Wish you could get a refund on high-priced Chevy Silverado insurance in Tulsa? Trust us, there are lots of people in the same boat.
Amazingly, a recent NerdWallet.com study showed that nearly 70% of consumers kept their coverage with the same insurance company for more than four years, and about 40% of consumers have never compared rates from other carriers. Oklahoma consumers can cut their rates by approximately $550 a year by just shopping around, but they just don't want to compare rate quotes.
Steps to quoting cheaper Chevy Silverado insurance in Tulsa
If you want to save the most money, the best way to find better pricing on Chevy Silverado insurance is to make a habit of regularly comparing prices from providers who can sell car insurance in Tulsa.
Step 1: Try to learn about how car insurance works and the factors you can control to prevent expensive coverage. Many rating criteria that are responsible for high rates such as speeding tickets, accidents and a bad credit rating can be rectified by making small lifestyle or driving habit changes. Continue reading for additional ideas to help keep prices low and earn larger discounts.
Step 2: Quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can only quote rates from a single company like GEICO or Farmers Insurance, while independent agencies can provide rate quotes from many different companies.
Step 3: Compare the new quotes to the price on your current policy to see if switching to a new carrier will save money. If you find a better price and switch companies, make sure there is no lapse in coverage.
Step 4: Provide written notification to your current company to cancel your current coverage. Submit the signed application along with the required initial payment for your new coverage. As soon as coverage is bound, keep the new certificate verifying proof of insurance in an accessible location in your vehicle.
The critical component of shopping around is that you'll want to make sure you compare the same deductibles and limits on every quote request and and to get price quotes from all possible companies. This guarantees the most accurate price comparison and a thorough price selection.
Insurance companies such as State Farm, GEICO and Farmers Insurance promote their brand names with catchy ads and it is challenging if not impossible to see through the cute green geckos and mayhem and take the time to shop coverage around.
It's a good habit to compare premium rates yearly because insurance prices are rarely the same from one policy term to another. Even if you got the best quotes on Chevy Silverado insurance in Tulsa on your last policy other companies may now be cheaper. Don't believe everything you read about Silverado insurance online, but by reading this article, you're going to learn some excellent ideas to lower your insurance bill.
The method we recommend to compare insurance rates in your area is to know auto insurance companies allow for online access to provide you with a free rate quote. To get started, all you need to do is provide a small amount of information like if you are currently licensed, if the car is leased, how much school you completed, and which vehicles you own. Your rating data is then submitted to many highly-rated insurers and they provide comparison quotes immediately.
If you would like to start a quote now, click here and complete the quick form.
The following companies are our best choices to provide price quotes in Oklahoma. To locate the cheapest car insurance in Tulsa, OK, it's a good idea that you visit as many as you can in order to get a fair rate comparison.
Statistics and details
The premium table below highlights different insurance costs for Chevy Silverado models. Understanding how premiums are established can assist in making smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$290||$542||$658||$38||$198||$1,726||$144|
|Silverado LS Regular Cab 4WD||$290||$542||$584||$34||$174||$1,624||$135|
|Silverado LT Regular Cab 2WD||$332||$660||$658||$38||$198||$1,886||$157|
|Silverado LT Regular Cab||$332||$660||$658||$38||$198||$1,886||$157|
|Silverado LS Extended Cab 4WD||$332||$660||$584||$34||$174||$1,784||$149|
|Silverado LT Extended Cab 4WD||$332||$660||$584||$34||$174||$1,784||$149|
|Silverado LT Extended Cab 2WD||$332||$660||$658||$38||$198||$1,886||$157|
|Silverado LS Extended Cab 2WD||$332||$660||$658||$38||$198||$1,886||$157|
|Silverado LT Crew Cab 4WD||$376||$778||$584||$34||$174||$1,946||$162|
|Silverado LS Crew Cab 2WD||$376||$778||$658||$38||$198||$2,048||$171|
|Silverado LS Crew Cab 4WD||$376||$778||$584||$34||$174||$1,946||$162|
|Silverado LT Crew Cab 2WD||$376||$778||$658||$38||$198||$2,048||$171|
|Silverado LTZ Extended Cab 2WD||$376||$778||$658||$38||$198||$2,048||$171|
|Silverado LTZ Extended Cab 4WD||$376||$778||$584||$34||$174||$1,946||$162|
|Silverado LTZ Crew Cab 2WD||$376||$778||$658||$38||$198||$2,048||$171|
|Silverado LTZ Crew Cab 4WD||$376||$778||$584||$34||$174||$1,946||$162|
|Silverado Crew Cab Hybrid 2WD||$376||$896||$584||$34||$174||$2,064||$172|
|Silverado Crew Cab Hybrid 4WD||$418||$896||$584||$34||$174||$2,106||$176|
|Get Your Own Custom Quote Go|
Prices above based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Oklahoma minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Information does not factor in specific zip code location which can influence price quotes significantly.
The information below demonstrates how deductible levels and can affect Chevy Silverado premium costs for different insured age categories. The premiums assume a married male driver, comprehensive and collision coverage, and no policy discounts are applied.
Impact of citations and accidents on insurance rates
The chart below demonstrates how traffic citations and at-fault fender-benders impact Chevy Silverado auto insurance costs for different age categories. The data assumes a married male driver, comprehensive and collision coverage, $250 deductibles, and no discounts are taken into consideration.
Do you need full coverage?
The chart below illustrates the difference between Chevy Silverado annual premium costs with full physical damage coverage compared to only buying liability only. The premiums are based on a clean driving record, no claims, $500 deductibles, drivers are single, and no discounts are applied to the premium.
Should you pay for full coverage?
There is no clear-cut rule of when to stop paying for physical damage coverage, but there is a general guideline. If the annual cost of your full coverage insurance is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let's say your Chevy Silverado book value is $7,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $6,000 after the policy deductible has been paid. If premiums are more than $600 annually for full coverage, then it's probably a good time to buy liability coverage only.
There are a few situations where only buying liability is not financially feasible. If you still have a lienholder on your title, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should keep full coverage in place.
Why you need insurance for your vehicle
Even though it can be expensive, paying for insurance is required for several reasons.
- Almost all states have minimum liability requirements which means state laws require specific limits of liability if you don't want to risk a ticket. In Oklahoma these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you bought your Chevy with a loan, almost all lenders will make it mandatory that you carry insurance to ensure they get paid if you total the vehicle. If coverage lapses or is canceled, the bank will be required to insure your Chevy at a much higher rate and require you to reimburse them a much higher amount than you were paying before.
- Insurance protects your Chevy and your assets. It will also cover many types of medical costs incurred in an accident. Liability insurance will also pay attorney fees if anyone sues you for causing an accident. If you have damage to your Chevy as the result of the weather or an accident, your insurance policy will pay to repair the damage.
The benefits of buying insurance more than cancel out the cost, particularly if you ever have a claim. According to a 2015 survey, the average American driver is overpaying over $855 a year so you should quote and compare rates every year to ensure rates are competitive.
Car insurance coverages for a Chevy Silverado
Learning about specific coverages of a insurance policy can help you determine the best coverages and proper limits and deductibles. The terms used in a policy can be impossible to understand and reading a policy is terribly boring. Below you'll find the usual coverages found on the average insurance policy.
Medical expense coverage - Personal Injury Protection (PIP) and medical payments coverage kick in for expenses for nursing services, surgery, rehabilitation expenses and EMT expenses. The coverages can be utilized in addition to your health insurance plan or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay
Comprehensive protection - Comprehensive insurance covers damage OTHER than collision with another vehicle or object. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things like hitting a deer, vandalism, hail damage and fire damage. The most your insurance company will pay is the market value of your vehicle, so if it's not worth much more than your deductible it's probably time to drop comprehensive insurance.
Uninsured or underinsured coverage - This gives you protection when the "other guys" either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle's damage.
Because many people only carry the minimum required liability limits (Oklahoma limits are 25/50/25), it doesn't take a major accident to exceed their coverage limits. That's why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Most of the time your uninsured/underinsured motorist coverages are identical to your policy's liability coverage.
Collision coverage - This pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.
Collision coverage protects against claims such as damaging your car on a curb, hitting a parking meter, hitting a mailbox and backing into a parked car. Collision is rather expensive coverage, so consider removing coverage from vehicles that are 8 years or older. You can also choose a higher deductible on your Silverado to bring the cost down.
Liability auto insurance - This protects you from damage that occurs to a person or their property by causing an accident. This insurance protects YOU from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.
Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 25/50/25 which means a $25,000 limit per person for injuries, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property. Some companies may use a combined limit which limits claims to one amount rather than limiting it on a per person basis.
Liability can pay for things such as bail bonds, structural damage, court costs, emergency aid and loss of income. The amount of liability coverage you purchase is a decision to put some thought into, but it's cheap coverage so purchase as much as you can afford. Oklahoma requires minimum liability limits of 25/50/25 but drivers should carry higher limits.
The illustration below demonstrates why the minimum limit may not be enough.
What is YOUR best insurance company?
When searching for the cheapest Chevrolet Silverado rate quotes, never skimp on critical coverages to save a buck or two. There are a lot of situations where an insured cut full coverage and found out when filing a claim that the small savings ended up costing them much more. Your focus should be to buy the best coverage you can find at an affordable rate while not skimping on critical coverages.
Lower-priced Chevy Silverado insurance in Tulsa can be purchased both online and with local Tulsa insurance agents, and you need to comparison shop both to have the best rate selection. Some insurance companies may not have online rate quotes and many times these regional insurance providers provide coverage only through local independent agents.
Steps to saving money on Chevy Silverado insurance in Tulsa
The most effective way to get budget car insurance rates is to make a habit of comparing prices annually from providers in Tulsa. Prices can be compared by following these guidelines.
First, gain an understanding of car insurance and the measures you can control to drop your rates. Many rating criteria that result in higher rates like at-fault accidents, careless driving, and an imperfect credit history can be remedied by improving your driving habits or financial responsibility.
Second, request rate estimates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from a single company like Progressive and State Farm, while agents who are independent can quote prices for a wide range of companies.
Third, compare the new quotes to the premium of your current policy and see if you can save money. If you find a better price, ensure there is no coverage lapse between policies.
Fourth, provide proper notification to your current company of your intent to cancel the current policy and submit a completed application and payment for your new coverage. Don't forget to keep your new certificate verifying coverage in an easily accessible location.
One key aspect when comparing rates is to use the same coverage limits and deductibles on each quote request and to quote with as many car insurance companies as possible. Doing this ensures a fair rate comparison and a complete price analysis.
For more information, take a look at these articles:
- How do I File a Claim? (Insurance Information Institute)
- Who Has the Cheapest Tulsa Auto Insurance for 19 Year Olds? (FAQ)
- Who Has Affordable Car Insurance Quotes for a Subaru Outback in Tulsa? (FAQ)
- Who Has Affordable Car Insurance Rates for Unemployed Drivers in Tulsa? (FAQ)
- Who Has Affordable Tulsa Car Insurance Quotes for a Nissan Altima? (FAQ)
- Who Has Affordable Tulsa Car Insurance Quotes for Government Employees? (FAQ)
- Who Has Cheap Auto Insurance Quotes for Drivers Under 21 in Tulsa? (FAQ)
- When is the Right Time to Switch Car Insurance Companies? (Allstate)
- Distracted Driving (Insurance Information Institute)