Buying affordable auto insurance for a Chevy Silverado is normally pretty easy, but it hinges on a complicated rating formula that uses factors such as how far you commute, whether or not you have filed claims in the past, and blemishes on your driving record. Drivers in Louisiana will pay on average $1,429 a year to insure their Silverado, but that figure is an estimation based on a 50-year-old married male driver with full physical damage coverage and $250 deductibles.
When making auto insurance estimates, the issue arises that you are not 50 years old and maybe not even male, possibly single instead of married, and maybe you want higher deductibles. Each driver’s needs are different, and that demonstrates why the best way to find the most affordable coverage for your Chevrolet is to do the rate comparisons yourself. Compare rate quotes now and you can get prices from the cheapest companies that offer coverage in Louisiana.
The trim level of your vehicle will have an impact the coverage cost, so the rate you will pay to insure a Silverado LS Regular Cab 2WD will be $306 lower than the price to insure the higher-end Silverado Crew Cab Hybrid 4WD trim level, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$244||$422||$504||$30||$150||$1,350||$113|
|Silverado LS Regular Cab 4WD||$244||$422||$446||$26||$134||$1,272||$106|
|Silverado LT Regular Cab 2WD||$280||$514||$504||$30||$150||$1,478||$123|
|Silverado LT Regular Cab||$280||$514||$504||$30||$150||$1,478||$123|
|Silverado LS Extended Cab 4WD||$280||$514||$446||$26||$134||$1,400||$117|
|Silverado LT Extended Cab 4WD||$280||$514||$446||$26||$134||$1,400||$117|
|Silverado LT Extended Cab 2WD||$280||$514||$504||$30||$150||$1,478||$123|
|Silverado LS Extended Cab 2WD||$280||$514||$504||$30||$150||$1,478||$123|
|Silverado LT Crew Cab 4WD||$316||$606||$446||$26||$134||$1,528||$127|
|Silverado LS Crew Cab 2WD||$316||$606||$504||$30||$150||$1,606||$134|
|Silverado LS Crew Cab 4WD||$316||$606||$446||$26||$134||$1,528||$127|
|Silverado LT Crew Cab 2WD||$316||$606||$504||$30||$150||$1,606||$134|
|Silverado LTZ Extended Cab 2WD||$316||$606||$504||$30||$150||$1,606||$134|
|Silverado LTZ Extended Cab 4WD||$316||$606||$446||$26||$134||$1,528||$127|
|Silverado LTZ Crew Cab 2WD||$316||$606||$504||$30||$150||$1,606||$134|
|Silverado LTZ Crew Cab 4WD||$316||$606||$446||$26||$134||$1,528||$127|
|Silverado Crew Cab Hybrid 2WD||$316||$698||$446||$26||$134||$1,620||$135|
|Silverado Crew Cab Hybrid 4WD||$352||$698||$446||$26||$134||$1,656||$138|
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Premium data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Louisiana minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Information does not factor in specific garaging location which can change premiums noticeably.
Deciphering which companies offer the most affordable car insurance rates for a Chevy Silverado calls for a bit more work in order to find the best policy.
Each auto insurer used slightly different criteria to set premium rates, so let’s rank the car insurance companies that tend to have lower prices in Louisiana. It’s important to understand that Louisiana car insurance rates are calculated based on many things that may substantially change the cost of coverage. Turning one year older, buying a different vehicle, or getting a ticket for careless driving may cause policy rate changes that can now make some companies more affordable than others.
Best Cheap Insurance Rates for Your Silverado Truck
|Rank||Company||Cost Per Year|
|6||Southern Farm Bureau||$2,248|
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USAA offers some of the most affordable car insurance rates in New Orleans at around $1,642 each year. MetLife, Progressive, GEICO, and Safeway are also some of the lowest-priced New Orleans, LA insurance companies.
As depicted above, if you are a policyholder with GEICO and switched to MetLife, you might realize yearly savings of in the vicinity of $111. Insureds with Safeway could save as much as $300 a year, and Southern Farm Bureau policyholders might lower prices by $394 a year.
To compare your rates to other Louisiana insurance companies, click here to start your custom quote or visit several of the following companies.
Understand that those prices are averages across all drivers and vehicles in Louisiana and do not take into consideration an exact vehicle garaging location for a Chevy Silverado. So the auto insurance company that fits your needs best may not even be in the top 12 companies shown above. That emphasizes why you need to compare as many prices as possible using your own specific driver and vehicle information.
How accidents and violations affect rates
The common sense way to earn the cheapest car insurance rates for a Silverado pickup is to drive attentively and not have accidents or get tickets. The illustration below demonstrates how speeding tickets and accident claims raise premium costs for different age groups of insureds. The prices are based on a married male driver, full physical damage coverage, $1,000 deductibles, and no discounts are factored in.
The data above shows the average cost of auto insurance per year with a clean driving record and no accidents is $2,230. Add in two speeding tickets and the average cost hikes up to $3,067, an increase of $838 each year. Then include two accidents along with the two speeding tickets and the 12-month cost of car insurance for a Chevy Silverado increases to an average of $6,544. That’s an increase of $4,315, or $360 per month, just for not driving attentively!
Types of discounts on New Orleans auto insurance rates
Insurers that sell policies for a Chevy Silverado may have premium discounts that could potentially reduce rates by as much as 30% if you qualify. A list of car insurance companies and a summarized list of policyholder discounts are outlined below.
- State Farm includes discounts for anti-theft, Steer Clear safe driver discount, multiple policy, good student, and safe vehicle.
- GEICO may have discounts that include federal employee, military active duty, air bags, multi-policy, anti-lock brakes, and seat belt use.
- Allstate has discounts for economy car, good payer, utility vehicle, resident student, 55 and retired, senior citizen, and teenSMART discount.
- SAFECO offers premium reductions for bundle discounts, drive less, multi-car, teen safe driver, accident prevention training, anti-lock brakes, and anti-theft.
- Farm Bureau offers discounts including 55 and retired, safe driver, good student, driver training, youthful driver, and multi-vehicle.
- Progressive offers discounts for online signing, online quote discount, multi-vehicle, multi-policy, continuous coverage, homeowner, and good student.
- AAA may offer discounts for anti-theft, AAA membership discount, pay-in-full, multi-policy, multi-car, and good student.
The diagram below shows the comparison of insurance rates with and without discounts being applied to the rates. The information is based on a female driver, no accidents or driving violations, Louisiana state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second shows the rates with marriage, defensive driving course, claim-free, multiple policy, safe-driver, and passive restraint discounts applied. When drivers take advantage of discounts, theaverage amount saved on car insurance for a Chevy Silverado is 28% or $905.
A good deal can quickly turn bad
Louisiana car insurance rates are impacted by many factors which can significantly increase or decrease the price you pay for coverage. Improving your credit rating, getting divorced, or having an accident may prompt premium changes that may make certain companies more affordable than the competition.
In addition, companies change premium rates as often as every quarter in order to remain profitable. A period of increased losses can result in increased policy costs, while lower claim expenses can result in more affordable Silverado insurance rates.
To illustrate this point, the bar chart below shows the companies that have the cheapest car insurance in New Orleans, LA for a 40-year-old male driver with a clear driving record, no claims, and a high credit rating. If we look at prices based on his current situation, USAA offers the cheapest car insurance rates in New Orleans at $2,756 each year. This is $342 more than the average rate paid by Louisiana drivers of $2,414. MetLife, GEICO, Progressive, and Safeway are also on the list of the best New Orleans, LA auto insurance companies.
In this next rate comparison, we will give the driver in the first example a claim or two, bad credit, and a stop sign violation. Since every car insurance company has a proprietary method for establishing rates, comparing insurance quotes could result in a new list of the cheapest New Orleans car insurance companies as shown below.
California Casualty now has the lowest car insurance rate in New Orleans, LA with State Farm, USAA, Safe Auto, and MetLife now rounding out the top five. This illustrates why consumers need to compare many different companies when trying to get the most economical auto insurance quotes for a Chevy Silverado.
Insurance rates are calculated by many risk factors and change frequently, so the cheapest option the last time you shopped your coverage around may now be costing you a lot of money.
How to find budget-friendly car insurance for a Chevy Silverado
Lowering your rates is not difficult, and here are many money-saving ideas that can help Louisiana drivers get cheaper coverage.
- Increase deductibles to save money
- Home or renters coverage can save on auto insurance
- Do not pay for comprehensive and collision coverage on older vehicles
- Drive safe vehicles
- Discounts for being claim-free can be substantial
- Better credit rating means better rates
- Comparison shop frequently
The last item on the list is especially important, as we pointed out in this piece. Insurance rates can be changed at any time, so you should be ready to buy from a different company if you find a cheaper price. Being loyal to a particular company is commendable, but it’s not recommended if that inflexibility results in costing you money that could be going to better use. Take a couple minutes and shop around and find cheaper car insurance for a Chevy Silverado in New Orleans.
If you have coverage questions and would like to have some professional guidance when comparing insurance rates for a Silverado pickup, the agents below can help you make a decision which coverages and limits you need. To locate an agency closest to you, click the button following the list or click here to compare prices now.
Allstate Insurance: John Carbo Jr.
621 Homedale St – New Orleans, LA 70124 – (504) 488-0070
Allstate Insurance: Daniel Occhi
4006 Canal St – New Orleans, LA 70119 – (504) 517-9080
Pat Leboeuf Insurance
601 Seguin St – New Orleans, LA 70114 – (504) 361-4600
Andy Bowden – State Farm Insurance Agent
6325 Elysian Fields Ave a – New Orleans, LA 70122 – (504) 288-2219