Chevy Silverado insurance cost image courtesy of QuoteInspector.com
There isn't a single person who likes having to buy auto insurance, particularly when the cost is too high.
We don't have to point out that fact that car insurance companies want to keep you from shopping around. Consumers who shop around for the cheapest rate will, in all likelihood, buy a different policy because there are good odds of finding a lower-priced company. Surprisingly, a recent survey revealed that consumers who compared rate quotes regularly saved approximately $860 a year as compared to drivers who never compared rates.
If finding the lowest rates on insurance is your ultimate goal, then having an understanding of how to choose a company and compare auto insurance can make it easier for you to save money. Due to the large number of different company options, it's difficult to find a more affordable auto insurance company.
Locating the best rates in Memphis is actually quite simple. If you're already insured or just want to save money, use these techniques to get lower rates and still have adequate protection. Drivers only have to learn the fastest way to shop their coverage around online.
Most of the larger companies such as Progressive, GEICO, Allstate and State Farm provide coverage prices on their websites. Obtaining pricing for Chevy Silverado insurance in Memphis is pretty painless as you simply enter your personal and coverage information as requested by the quote form. When complete, the quote system automatically retrieves your driving and credit reports and generates a price determined by many factors. This makes it easy to compare insurance prices and it's also necessary to compare as many rates as possible if you want to find a lower rate.
To save time and fill out one form to compare multiple rates now, visit the companies below or click here to submit a quote request to multiple companies at once. To compare your current rates, we recommend you duplicate the coverage information as close as possible to your current policy. This helps ensure you will receive rate comparison quotes for the exact same coverage.
The companies shown below are our best choices to provide free rate quotes in Memphis, TN. To buy cheap auto insurance in TN, we suggest you visit as many as you can in order to get a fair rate comparison.
Insurance coverage analysis
The price information shown next showcases estimates of insurance policy prices for Chevy Silverado models. Learning a little about how prices are calculated 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||$152||$282||$424||$26||$126||$1,010||$84|
|Silverado LS Regular Cab 4WD||$152||$282||$376||$22||$112||$944||$79|
|Silverado LT Regular Cab 2WD||$174||$342||$424||$26||$126||$1,092||$91|
|Silverado LT Regular Cab||$174||$342||$424||$26||$126||$1,092||$91|
|Silverado LS Extended Cab 4WD||$174||$342||$376||$22||$112||$1,026||$86|
|Silverado LT Extended Cab 4WD||$174||$342||$376||$22||$112||$1,026||$86|
|Silverado LT Extended Cab 2WD||$174||$342||$424||$26||$126||$1,092||$91|
|Silverado LS Extended Cab 2WD||$174||$342||$424||$26||$126||$1,092||$91|
|Silverado LT Crew Cab 4WD||$196||$404||$376||$22||$112||$1,110||$93|
|Silverado LS Crew Cab 2WD||$196||$404||$424||$26||$126||$1,176||$98|
|Silverado LS Crew Cab 4WD||$196||$404||$376||$22||$112||$1,110||$93|
|Silverado LT Crew Cab 2WD||$196||$404||$424||$26||$126||$1,176||$98|
|Silverado LTZ Extended Cab 2WD||$196||$404||$424||$26||$126||$1,176||$98|
|Silverado LTZ Extended Cab 4WD||$196||$404||$376||$22||$112||$1,110||$93|
|Silverado LTZ Crew Cab 2WD||$196||$404||$424||$26||$126||$1,176||$98|
|Silverado LTZ Crew Cab 4WD||$196||$404||$376||$22||$112||$1,110||$93|
|Silverado Crew Cab Hybrid 2WD||$196||$464||$376||$22||$112||$1,170||$98|
|Silverado Crew Cab Hybrid 4WD||$218||$464||$376||$22||$112||$1,192||$99|
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Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Rate information does not factor in garaging location in Memphis which can lower or raise auto insurance rates noticeably.
Should you buy full coverage?
The chart below compares Chevy Silverado car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Tennessee. The rate quotes are based on no tickets, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are applied.
When to eliminate full coverage
There is no set rule of when to stop paying for full coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let's pretend your Chevy Silverado replacement cost is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $8,000 after the policy deductible has been paid. If you are currently paying more than $800 annually for your policy with full coverage, then you may need to consider dropping full coverage.
There are a few cases where dropping full coverage is not in your best interest. If you haven't paid off your loan, you have to maintain full coverage to protect the lienholder's interest in the vehicle. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not buy liability only.
Auto insurance agents can help
Many drivers would prefer to talk to an insurance agent and doing that can be a smart decision Professional agents are trained risk managers and will help you if you have claims. One of the benefits of price shopping on the web is the fact that you can find the lowest rates and still have an agent to talk to.
Upon completion of this short form, your insurance data is submitted to local insurance agents who will give you bids for your coverage. It's much easier because you don't need to contact any insurance agencies because prices are sent to you. In the event you want to get a price quote from one company in particular, you would need to search and find their rate quote page and complete a quote there.
Finding the right insurer should depend on more than just the bottom line cost. You should also get answers to these questions.
- Will the agent help in case of a claim?
- Do they get extra compensation for selling add-on coverages?
- Is vehicle damage repaired with OEM or aftermarket parts?
- Can glass repairs be made at your home?
- Do the companies they represent have a solid financial rating?
- Is auto insurance their primary focus in Memphis?
- What insurance companies do they work with in Memphis?
- Is the coverage adequate for your vehicle?
When searching for a reliable insurance agency, you need to know there are two different types of agencies and how they can quote your rates. Car insurance agents in Memphis are either independent or exclusive depending on the company they work for. Both types of agents can properly insure your vehicles, but we need to point out how they are different because it can impact your selection of an agent.
Exclusive agents can usually just insure with one company such as State Farm or Allstate. These agents are not able to give you multiple price quotes so they are skilled at selling on more than just price. Exclusive agencies are well schooled on their company's products which helps offset the inability to provide other markets.
Shown below are exclusive insurance agencies in Memphis that can give you comparison quotes.
Independent Agents (or Brokers)
Agents that elect to be independent are not limited to a single company and that is an advantage because they can write policies with any number of different companies and find the cheapest rate. If you are not satisfied with one company, the agent simply finds a different carrier and you don't have to switch agencies.
When comparing rates, you should always get insurance quotes from multiple independent agents to get the best comparison.
The following are Memphis independent agents that are able to give price quote information.
Upon getting answers to your satisfaction to these questions and an affordable coverage quote, you've probably found an insurance agency that is professional and can provide car insurance coverage. Keep in mind you are entitled to terminate coverage whenever you wish so never assume you are locked into any specific company for any length of time.