Cheap Insurance Quotes for a Chevrolet Silverado in Tennessee

When talking about car insurance, the word cheap should not appear anywhere to describe car insurance prices. It’s just a fact that cheap car insurance for a Chevy Silverado can be extremely hard to find. Don’t let that discourage you, because we will show you how you can get coverage that is considered budget-friendly.

The chances of finding the best cheap coverage for a Chevy Silverado in Tennessee is contingent on a lot of different factors such as driver age, if you have ever let your coverage lapse, and if you have a history of accidents. Drivers will pay around $920 annually to buy insurance for a Chevrolet Silverado, but that rate is a ballpark figure based on cost data for a 30-year-old single male who purchased full coverage and $1,000 policy deductibles.

But there is a good chance that you are not a 30-year-old male, maybe you are married instead of single, and you want different coverage limits than the example. Auto insurance is unique to every driver, so the most reliable way to find the cheapest rates for your Chevrolet is to regularly compare rates at renewal.

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The trim level of your Chevrolet tends to impact the yearly cost, so the cost to insure a Silverado LS Regular Cab 2WD model will be $120 lower than the price to insure the high end Silverado Crew Cab Hybrid 4WD model, as shown by the rates below.

Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Prices do not factor in vehicle location which can affect auto insurance rates substantially.

Buying low-priced car insurance is not the easiest thing to do, and determining which companies offer the cheapest car insurance rates for a Chevy Silverado requires even more diligence. Each company uses a slightly different approach for determining rates in each state, so let’s rank the car insurance companies with the overall cheapest rates in Tennessee.

It’s important to know that Tennessee car insurance rates are influenced by many factors that will increase or decrease the cost of having a policy. Events like turning one year older, moving across town, or getting caught speeding can cause premium changes that can now make some companies cheaper than competitors.

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Utica National quotes some of the lowest car insurance rates in Tennessee at around $767 a year. Cincinnati Insurance, Auto-Owners, USAA, and Penn National also are some of the more affordable Tennessee car insurance companies.

In the rate table above, if you are insured with USAA and switched to Cincinnati Insurance, you might achieve annual savings of about $69. Customers with Penn National may save as much as $85 a year, and Erie customers might lower prices by $107 a year.

It’s important to note that these rates are averages across all insureds and vehicles and do not take into consideration a specific rate factor for a Chevy Silverado. So the insurer that is best for you may not even be featured in the list of companies above. That underscores the importance of why you need to compare as many prices as possible using your own personalized driver profile and vehicle information.

Cost of full coverage in Tennessee

Finding cheap insurance for a Chevy Silverado in Tennessee is probably important to the majority of people, and a great way to find cheap insurance is to not pay for full coverage. The illustration below compares insurance costs with and without physical damage coverage. The rates are based on no claims or driving citations, $250 deductibles, drivers are not married, and no discounts are applied to the premium.

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If averaged out across all ages, full coverage on your policy costs an extra $1,961 per year over and above liability only. That amount may make you wonder if buying full coverage is worth the money. There is no definitive rule of when to drop full coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.

There are some circumstances where dropping full coverage is not recommended. If you haven’t paid off your loan, you have to keep full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should keep full coverage.

The illustration below illustrates how your deductible choice can raise or lower insurance costs when searching for cheap insurance for a Chevy Silverado. The rates are based on a married male driver, comp and collision included, and no discounts are factored in.

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As shown above, a 50-year-old driver could pocket $240 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $364 by switching to a $1,000 deductible. Even younger insureds, like the 20-year-old, have the ability to save as much as $804 annually just by using higher deductibles.

When choosing a higher deductible, it is important to have enough savings set aside to satisfy the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.

Progressive vs State Farm vs Geico vs Allstate

If you’re looking for the best auto insurance, four companies to take a look at are Progressive, State Farm, Geico, and Allstate. When combined, they make up 48.5% of all auto insurance policies in force. They all offer your standard coverages, but each one has slightly different coverage options that shoppers can select from. The data below shows some of the different features that are available from each company.