Who Has the Cheapest Insurance Quotes for a Chevrolet Silverado in South Dakota?

Finding cheaper auto insurance for a Chevy Silverado in South Dakota relies on a pretty complex algorithm that uses a lot of factors like whether you own a home, whether you have good credit, and your choice of deductibles. South Dakota drivers on average will pay $920 every 12 months to buy Chevrolet Silverado insurance, but that amount is a projection assuming a 40-year-old single male who needs full physical damage coverage and $1,000 deductibles.

There is a high likelihood that you are not exactly 40 years old and possibly not even male, married instead of single, or you want lower deductibles. Using even a minor difference in policy rating data can result in a massive change in the cost of insurance.

This illustrates why the most reliable way to find affordable rates for your Chevrolet is to quote often and with as many companies as possible.

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Vehicle trim level tends to have a direct impact on the annual cost of coverage, so the price you pay to insure a Silverado LS Regular Cab 2WD model will cost $138 less than the cost to insure the higher-priced Silverado Crew Cab Hybrid 4WD model, as demonstrated by the prices below.

Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and South Dakota minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Information does not factor in specific location which can raise or lower prices noticeably.

Figuring out which company offers the most affordable car insurance rates for a Chevy Silverado may require a bit more effort in order to find coverage that fits your buget. Every insurance company has their own unique process to set their prices, so we will examine the lowest cost car insurance companies in South Dakota.

Lowest Insurance Price Quotes for Your Silverado Truck

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USAA quotes some of the best car insurance rates in South Dakota at around $657 annually. Auto-Owners, State Farm, Farmers Mutual of Nebraska, and Unitrin would also be considered some of the more affordable South Dakota auto insurance companies.

In the above rates, if you buy coverage from Farmers Mutual of Nebraska and switched to USAA, you might achieve yearly savings of roughly $339. South Dakota drivers with Unitrin could save as much as $418 a year, and Western National insureds might realize rate reductions of up to $421 a year.

To discover how much you can save, click here to start your free quote or quote rates from the companies below.

Understand that those estimates are averages for all types of drivers and the different vehicles they drive and do not factor in a specific rate factor for a Chevy Silverado. So the car insurance company that has the cheapest price for you may not even be included in the list above. That points out the importance of why you need to get quotes using your own driver information and specific vehicle type.

Full coverage rates compared to liability-only

Finding the cheapest insurance for a Chevy Silverado in South Dakota is the goal of most vehicle owners, and a great way to save on the cost of insurance is to buy liability only. The chart below shows the comparison of annual premium costs with full coverage compared to only the South Dakota minimum liability coverage. The premium estimates are based on no accidents, no driving violations, $100 deductibles, single marital status, and no policy discounts are applied.

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If averaged for all ages, full coverage on your policy costs an extra $1,923 per year over having just liability coverage. That touches on the question if it’s a good idea to buy full coverage. There is no clear-cut formula to stop paying for comprehensive and collision coverage on your policy, but there is a general guideline. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it’s probably a good time to buy liability coverage only.

For example, let’s pretend your vehicle’s replacement cost is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, you would only receive $6,000 after paying your policy deductible. If you are paying over $600 annually for full coverage, then it may be the right time to buy liability only.

There are a few situations where buying only liability insurance is not financially feasible. If you haven’t paid off your loan, you have to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should maintain full coverage.

The illustration below illustrates how choosing a deductible can change insurance rates when quoting cheap insurance for a Chevy Silverado. The costs are based on a single female driver, comprehensive and collision coverage, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 3057,2793,2501,2227],[‘Age 30’, 2129,1937,1717,1507],[‘Age 40’, 1971,1797,1599,1409],[‘Age 50’, 1725,1573,1401,1233],[‘Age 60’, 1663,1517,1349,1191],[‘Age 70’, 1935,1767,1581,1407]]);var options = {title: ‘Deductible Levels and Chevrolet Silverado Insurance Rates in South Dakota’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Insurance Cost for a Chevrolet Silverado’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

The data above shows that a 50-year-old driver could lower their policy premium by $324 a year by switching their comprehensive and collision coverages from a $100 deductible up to a $500 deductible, or save $492 by changing to a $1,000 deductible. Even younger drivers, like the 20-year-old, could shave $830 or even more just by choosing higher deductibles when buying full coverage. When using a larger deductible, it will now be necessary to have plenty of money set aside to allow you to pay the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

How to find low-cost insurance for a Chevy Silverado

The list below details some money-saving solutions that can help South Dakota drivers quote more affordable coverage.

• Buy a car with high safety ratings
• Save money by obeying traffic laws and keeping a clean driving record
• Claim-free drivers earn discounts
• Save money by insuring your home and auto with the same company
• Do not get into accidents that are your fault
• Keep rates low by shopping around frequently

That last piece of advice is remarkably valuable, as was stressed in the prior article. Prices charged by companies can be modified anytime, so don’t be unwilling to buy a policy from a new company if a cheaper price is available. Loyalty to a specific company is fine, but it isn’t a good idea if that stubbornness costs you potentially thousands of dollars a year. In just a couple of minutes you could compare rates and find cheaper insurance for a Chevy Silverado.

State Farm vs Progressive vs Geico vs Allstate

When comparing car insurance, probably the best companies to start with are State Farm, Progressive, Geico, and Allstate. The following table breaks down price and claims rank as well as some different options that are available.