How Much is Insurance for a Chevrolet Silverado in Maine?

Whenever people write about auto insurance, the word affordable should not be used as a descriptor for auto insurance rates. It’s a simple fact that cheap car insurance for a Chevy Silverado can be extremely hard to find. Don’t get your dauber down, because we are going to tell you how you can find and buy auto insurance that fits into your budget.

Your chances of finding the cheapest coverage for a Chevy Silverado in Maine depends on a complex formula that considers things like the safety rating for your Silverado, whether or not you have prior claims, and citations or violations on your driving record. Maine drivers pay an average of $770 per year for Silverado insurance, but that rate is an approximation using cost data for a 40-year-old married female that has full coverage including both comprehensive and collision and $100 deductibles.

The issue with using an average estimated rate is the likelihood you may not be 40 years old (or even female), single instead of married, or maybe you’re a renter instead of a homeowner. Even a minor change in rating criteria or coverage limits can lead to a significant difference in the rate quoted for a Chevy Silverado.

Different coverage needs are the reason why the best method for finding affordable rates for your Chevrolet is to compare rates from as many companies as possible. It’s really quite easy you will be able to see rates from the best auto insurance companies that insure vehicles in Maine.

Compare Chevrolet Silverado Insurance Rates

The specific trim level will have an impact price, so the rate you pay to insure a Silverado LS Regular Cab 2WD trim level will cost $186 less than the price to insure the higher-end Silverado Crew Cab Hybrid 4WD trim level, as shown in the prices below.

Prices above based on married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Maine minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Price information does not factor in specific zip code location which can alter premiums greatly.

Maine insurance companies

Insuring your vehicle with the right insurance provider is hard considering how many choices there are in Maine. The ranking data in the lists below can help you choose which auto insurers you want to consider comparing rates from.

The ratings below are for large insurance companies, so smaller companies are not included in this list. If you wish to compare prices from the most competitive companies in Maine, simply click here.

Top 10 Large Auto Insurance Companies in Maine Ranked by A.M. Best Rating

1. GEICO – A++
2. Travelers – A++
3. State Farm – A++
4. USAA – A++
5. Allstate – A+
6. Nationwide – A+
7. Esurance – A+
8. Progressive – A+
9. The Hartford – A+
10. The General – A-

Top 10 Large Auto Insurance Companies Overall in Maine

1. The General
2. The Hartford
3. Progressive
4. Travelers
5. State Farm
6. Farmers Insurance
7. Safeco Insurance
8. USAA
9. GEICO
10. 21st Century

Top Companies for Chevrolet Silverado Insurance in Maine

How careless driving impacts Maine insurance rates

The ideal way to enjoy cheap insurance rates in Maine for a Silverado pickup is to drive carefully and avoid accidents and keep your driving record clean. The diagram below shows how speeding tickets and at-fault accidents drive up premium costs for each different age group. The rate quotes are based on a married female driver, comp and collision included, $1,000 deductibles, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and Two Accidents’],[‘Age 20’, 1199,1545,2939],[‘Age 30’, 833,1179,2569],[‘Age 40’, 827,1177,2565],[‘Age 50’, 729,1079,2471],[‘Age 60’, 697,1039,2431],[‘Age 70’, 753,1103,2491]]);var options = {title: ‘Impact of Tickets and Accidents on Maine Chevrolet Silverado Insurance’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Insurance Cost for a Chevrolet Silverado in Maine’,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);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

The data charted above shows the average cost of a car insurance policy in Maine per year with a clean driving record and no accidents is $840. Get two speeding tickets and the average cost swells to $1,187, an increase of $347 each year. Now get two accidents along with the two speeding tickets and the annual cost of insurance for a Chevy Silverado increases to an average of $2,578. That’s an increase of $1,738, or $145 per month, just for not being a responsible driver!

Comparison of full coverage and liability-only policies

Finding cheap insurance for a Chevy Silverado in Maine should be important to the majority of people, and one way to buy cheaper insurance is to not insure for full coverage. The chart below visualizes the comparison of insurance rates with and without physical damage coverage. The data is based on no claims, a clean driving record, $100 deductibles, single status, and no discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $100 Deductibles’, ‘Liability Only’],[‘Age 20’, 2755,827],[‘Age 30’, 1421,457],[‘Age 40’, 1415,425],[‘Age 50’, 1285,399],[‘Age 60’, 1243,391],[‘Age 70’, 1505,521]]);var options = {title: ‘Savings of Only Insuring for Liability’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a Chevrolet Silverado in Maine’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

Averaged out for all age groups, comprehensive and collision coverage on your policy costs an additional $1,604 per year more than carrying just liability coverage. That is a large expense and it proposes the question if it’s a good idea to buy full coverage. There is no set guideline that is best for determining when to drop physical damage insurance, but there is a general convention. If the annual cost of coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

For example, let’s assume your vehicle’s book value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $3,000 after paying the physical damage deductible. If you are paying in excess of $300 a year for physical damage coverage, then you may want to consider only buying liability coverage.

There are some circumstances where only buying liability is not a good idea. If you haven’t satisfied your loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not remove full coverage.