Buying the cheapest auto insurance for a Chevy Silverado in Texas doesn’t take a ton of time, but it relies on many rating factors such as age of the driver, your residence address, and citations on your driving record. Texas drivers pay approximately $1,176 a year to insure their Silverado, but that is an approximation based upon a 30-year-old married female driver with full coverage and $500 deductibles.
There’s a high likelihood you’re not a 30-year-old female, possibly single instead of married, or maybe you rent instead of own your home. Having different needs demonstrates why the only real way to find cheap insurance rates for your Chevrolet is to compare rates from as many companies as possible.
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The trim level of your vehicle will most likely have an effect on the yearly cost, so the rate you will pay to insure a Silverado LS Regular Cab 2WD trim level will be $230 less than the price to insure the more costly Silverado Crew Cab Hybrid 4WD model, as shown in the table below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Silverado LS Regular Cab 2WD | $202 | $322 | $440 | $26 | $132 | $1,122 | $94 |
| Silverado LS Regular Cab 4WD | $202 | $322 | $388 | $24 | $116 | $1,052 | $88 |
| Silverado LT Regular Cab 2WD | $232 | $392 | $440 | $26 | $132 | $1,222 | $102 |
| Silverado LT Regular Cab | $232 | $392 | $440 | $26 | $132 | $1,222 | $102 |
| Silverado LS Extended Cab 4WD | $232 | $392 | $388 | $24 | $116 | $1,152 | $96 |
| Silverado LT Extended Cab 4WD | $232 | $392 | $388 | $24 | $116 | $1,152 | $96 |
| Silverado LT Extended Cab 2WD | $232 | $392 | $440 | $26 | $132 | $1,222 | $102 |
| Silverado LS Extended Cab 2WD | $232 | $392 | $440 | $26 | $132 | $1,222 | $102 |
| Silverado LT Crew Cab 4WD | $262 | $462 | $388 | $24 | $116 | $1,252 | $104 |
| Silverado LS Crew Cab 2WD | $262 | $462 | $440 | $26 | $132 | $1,322 | $110 |
| Silverado LS Crew Cab 4WD | $262 | $462 | $388 | $24 | $116 | $1,252 | $104 |
| Silverado LT Crew Cab 2WD | $262 | $462 | $440 | $26 | $132 | $1,322 | $110 |
| Silverado LTZ Extended Cab 2WD | $262 | $462 | $440 | $26 | $132 | $1,322 | $110 |
| Silverado LTZ Extended Cab 4WD | $262 | $462 | $388 | $24 | $116 | $1,252 | $104 |
| Silverado LTZ Crew Cab 2WD | $262 | $462 | $440 | $26 | $132 | $1,322 | $110 |
| Silverado LTZ Crew Cab 4WD | $262 | $462 | $388 | $24 | $116 | $1,252 | $104 |
| Silverado Crew Cab Hybrid 2WD | $262 | $532 | $388 | $24 | $116 | $1,322 | $110 |
| Silverado Crew Cab Hybrid 4WD | $292 | $532 | $388 | $24 | $116 | $1,352 | $113 |
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Prices above based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Rate quotes do not factor in vehicle garaging location which can change coverage rates noticeably.
Determining which companies quote the lowest-priced insurance rates for a Chevy Silverado involves a bit more work in order to find the lowest price quote. Each auto insurance company has their own formula for determining rates, so let’s take a look at the most budget-friendly insurance companies in Texas.
It’s important that you understand Austin, TX insurance rates are based on many factors which can substantially decrease or increase the cost of a policy. Simply getting older, buying a home, or getting a ticket for running a stop sign can trigger price changes resulting in some companies being cheaper than competitors.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Travelers | $1,010 |
| 2 | USAA | $1,128 |
| 3 | Texas Farm Bureau | $1,247 |
| 4 | Germania Mutual | $1,256 |
| 5 | California Casualty | $1,382 |
| 6 | Esurance | $1,407 |
| 7 | State Farm | $1,450 |
| 8 | Mercury | $1,521 |
| 9 | Nationwide | $1,538 |
| 10 | Safe Auto | $1,597 |
| 11 | Allstate | $1,667 |
| 12 | Progressive | $1,698 |
| 13 | Amica | $1,723 |
| 14 | GEICO | $2,135 |
| 15 | Home State | $2,155 |
| 16 | MetLife | $2,227 |
| 17 | Encompass | $2,324 |
| 18 | Unitrin | $2,333 |
| 19 | 21st Century | $2,494 |
| 20 | Titan | $2,568 |
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Travelers has some of the lowest car insurance rates in Austin at around $1,010 per year. USAA, Texas Farm Bureau, Germania Mutual, and California Casualty also qualify as some of the cheaper Austin, TX insurance companies.
In this example, if you are a customer of Texas Farm Bureau and switched to Travelers, you might realize a yearly savings of about $237. Policyholders with Germania Mutual may save as much as $246 a year, and California Casualty insureds might reduce prices by as much as $372 a year.
To see if you’re overpaying, click here to start your free quote or visit any of the low-priced companies below.
Bear in mind that those rates are averaged for all drivers and vehicles and and are not calculated with a specific location for a Chevy Silverado. So the car insurance company that fits your needs best may not even be in the top 23 companies shown above. That’s why you need to compare rates from as many companies as possible using your own driver data and vehicle information.
Does it make sense to buy full coverage?
Finding the cheapest insurance is the goal of most people, and a good way to pay lower rates for insurance for a Chevy Silverado is to not buy comprehensive and collision coverage. The information below illustrates the difference between auto insurance rates with and without full coverage. The costs are based on no violations or claims, $500 deductibles, drivers are single, and no discounts are applied to the premium.
If the expense is averaged for all age categories, physical damage coverage on your policy costs $2,431 per year more than just insuring for liability. Many drivers will wonder when is the right time to remove full coverage. There is no exact rule to delete full coverage, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.
For example, let’s assume your vehicle’s replacement cost is $4,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most your company would pay you is $3,500 after paying the physical damage deductible. If premium cost is more than $350 annually for your policy with full coverage, the it may be a good time to stop paying for full coverage.
Compare rates to save
Austin insurance rates are impacted by many factors which can substantially change the cost of coverage. Simply turning a year older, having a teen driver, or having an accident can cause premium changes that can cause some rates to be much cheaper than others. In addition, companies change their prices every year or even multiple times each year in order to protect their financial rating. An extended period of higher than normal claims can cause a rate increase, while lower claim levels may produce cheaper Silverado insurance rates.
The data below compares the cheapest car insurance in Austin, TX for a 45-year-old female driver with no prior claims, no tickets, and good credit. If we look at prices based on her current risk profile, Travelers might offer the lowest car insurance rates in Austin at $1,141 a year. This is $763 less than the average policy premium paid by Texas drivers of $1,904. USAA, Germania Mutual, Texas Farm Bureau, and Esurance also make the list of the best Austin, TX auto insurance companies.
The chart below compares rates after we give the driver from the first rate comparison a chargeable accident, a lower credit score, and a blemish on her driving record. Due to the fact that every insurance company has a proprietary method for filing rates in each state, comparing rates will most likely result in a substantially altered list of the cheapest Austin car insurance companies as shown below.
State Farm now has the best price in Austin with Mercury, Nationwide, USAA, and Safe Auto also having competitive pricing. This illustrates why it is critical to compare as many rates as possible when trying to find cheap insurance quotes for a Chevy Silverado. Rates are impacted by many factors and can increase or decrease at any time, so the most economical company three years ago may now be one of the more expensive options.
Tips for buying cheaper auto insurance for a Chevy Silverado
Below you’ll find some of the recommended penny-pinching ideas that can help Austin drivers get low-cost coverage.
- Violations and traffic tickets increase rates
- Save money by staying claim-free
- Buying home and auto together can help save money
- Safe vehicles cost less to insure
- Avoid accidents
- Save money by insuring older vehicles for liability only
- Shop around for cheaper prices often
That final tip is extremely necessary, as we hit on in the article above. Prices fluctuate considerably, so drivers shouldn’t be reluctant to switch companies if you can find a cheaper rate. Brand loyalty is great, but it’s not recommended if that loyalty results in overpaying lots of money. Spend a few minutes and compare prices to find cheaper insurance for a Chevy Silverado in Austin.