Cheapest Quotes for Chevy Silverado 2500HD Insurance in Memphis

If saving money is your primary concern, then the best way to get more affordable Chevy Silverado 2500HD insurance is to compare quotes once a year from providers in Memphis. Rate comparisons can be done by completing these steps.

1. It will benefit you to learn about the coverage provided by your policy and the things you can control to keep rates in check. Many rating criteria that drive up the price such as high-risk driving behaviors and a not-so-good credit rating can be controlled by improving your driving habits or financial responsibility.
2. Request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from one company like GEICO or Allstate, while agents who are independent can quote rates for a wide range of insurance providers.
3. Compare the new rates to your existing policy to see if cheaper Silverado 2500HD coverage is available in Memphis. If you can save money, make sure coverage is continuous and does not lapse.

The critical component of shopping around is that you use similar deductibles and liability limits on every quote and and to get prices from every company you can. Doing this provides a fair price comparison and and a good selection of different prices.

Surprisingly, a recent survey revealed that the vast majority of consumers kept buying from the same company for at least the last four years, and roughly 40% of drivers have never compared rate quotes at all. Tennessee drivers could save $480 a year by just shopping around, but they don’t invest the time required to find lower-cost rates by getting comparison quotes.

Cheapest Chevy insurance rates in Memphis

The companies shown below are our best choices to provide quotes in Tennessee. If you want to find cheaper car insurance in Memphis, it’s a good idea that you visit several of them to get the best price comparison.

Rate information and statistics

The premium information below highlights detailed analysis of rate quotes for Chevy Silverado 2500HD models. Knowing how premiums are formulated can help drivers make smart choices when buying a car insurance policy.

Data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Estimates do not factor in specific location which can lower or raise rates significantly.

Comparison of policy deductibles

One common question asked by Memphis drivers is how high should the deductibles for physical damage be. The following tables lay out the differences in price when you choose different coverage deductibles. The first data table uses a $250 comprehensive and collision deductible and the second data table uses a $500 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Price estimates do not factor in specific garaging location which can change price quotes considerably.

Using the premium rates above, we can conclude that using a $250 deductible would cost the average driver about $15 more each month or $180 annually than buying the higher $500 deductible. Due to the fact that you would have to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you normally go more than 17 months between claim filings, you would more than likely save some money going with the higher deductible.

One thing to note is that a higher deductible level results in more money out-of-pocket at claim time. You must have some extra savings in order to pay the higher deductible.

The information below illustrates how your deductible choice and can raise or lower Chevy Silverado 2500HD insurance rates for different age groups of insureds. The data assumes a single male driver, comprehensive and collision coverage, and no discounts are applied.

Does full coverage make sense?

The chart below compares Chevy Silverado 2500HD auto insurance rates with full physical damage coverage compared to only buying liability only. The rate quotes are based on no claims, a clean driving record, $100 deductibles, marital status is single, and no discounts are applied.

When to stop buying full coverage

There is no definitive formula of when to drop comp and collision coverage, but there is a general guideline you can use. If the annual cost of your full coverage insurance is more than about 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.

For example, let’s assume your Chevy Silverado 2500HD book value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $6,000 after paying your deductible. If it’s costing you more than $600 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are some scenarios where only buying liability is not a good idea. If you still owe a portion of the original loan, you have to carry full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not remove full coverage.

Get cheaper rates by applying discounts

Auto insurance companies don’t list all possible discounts very clearly, so the below list has a few of the more common and also the lesser-known savings tricks you should be using when you buy Memphis auto insurance online.

• Professional Organizations – Belonging to a civic or occupational organization in Memphis could qualify you for a break on car insurance.
• Drivers Education – Reduce the cost of insurance for teen drivers by having them successfully take a driver’s education course if it’s offered in school.
• Payment Discounts – By paying your entire bill at once instead of making monthly payments you may reduce your total bill.
• Resident Student – Older children living away from Memphis attending college and do not have access to a covered vehicle may be insured at a cheaper rate.
• Discounts for Seat Belt Usage – Drivers who require all occupants to buckle up before driving could save 15% off the PIP or medical payment premium.
• Air Bag Discount – Vehicles with factory air bags or automatic seat belts may qualify for discounts as much as 30%.

It’s important to note that many deductions do not apply to the overall cost of the policy. Most cut individual premiums such as collision or personal injury protection. Even though the math looks like you would end up receiving a 100% discount, you won’t be that lucky.

The information below visualizes the comparison of Chevy Silverado 2500HD car insurance rates with and without discounts applied to the policy premium. The rates are based on a female driver, no claims or driving violations, Tennessee state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, safe-driver, homeowner, multi-policy, and multi-car discounts applied.

Popular car insurance companies and their possible discounts are:

• 21st Century has discounts for anti-lock brakes, homeowners, good student, early bird, 55 and older, and theft prevention.
• State Farm offers premium reductions for safe vehicle, good student, passive restraint, accident-free, and anti-theft.
• AAA includes discounts for anti-theft, multi-car, AAA membership discount, education and occupation, good student, and pay-in-full.
• Liberty Mutual policyholders can earn discounts including newly retired, hybrid vehicle, multi-car, newly married, new graduate, safety features, and preferred payment discount.
• Progressive may have discounts that include good student, continuous coverage, homeowner, online signing, multi-policy, online quote discount, and multi-vehicle.

If you need affordable Chevrolet Silverado 2500HD insurance quotes, ask each company or agent to give you their best rates. Discounts might not apply in your state. If you would like to choose from a list of insurance companies that offer discounts in Memphis, click this link.

You Can Change Your Insurance Premiums

An important part of buying insurance is that you know some of the factors that aid in calculating your policy premiums. If you have a feel for what positively or negatively impacts your premiums, this helps enable you to make changes that can earn you cheaper rates. Many different elements are part of the equation when you get your auto insurance bill. Some are obvious like a motor vehicle report, although some other factors are more transparent like your vehicle usage and annual miles driven.

• Uninterrupted coverage saves money – Driving without insurance is against the law and your next policy will cost more because you let your coverage have a gap. And not only will your rates increase, getting caught without coverage may earn you a license revocation or jail time. You may need to file a SR-22 with the Tennessee motor vehicle department.

• Which gender costs less? – Over time, data shows that men are more aggressive behind the wheel. The data does not necessarily mean that males are worse at driving than females. Both sexes tend to get into at-fault accidents in similar numbers, but the male of the species get into accidents with more damage. Men also tend to receive more costly citations such as DWI and reckless driving. Males from age 16 to 21 tend to get in the most accidents and are penalized with high insurance rates.

  The example below illustrates the comparison of Chevy Silverado 2500HD premium costs for male and female drivers. The rate quotes are based on no tickets, no at-fault accidents, full physical damage coverage, $100 deductibles, single marital status, and no other discounts are factored in.

• Don’t buy add-on coverages that aren’t used – There are quite a few add-on coverages that may not really be needed if you aren’t diligent. Coverages like rental car coverage, accidental death, and extra equipment coverage are probably not needed. They may seem good when buying your policy, but if they’re wasting money remove them from your policy.
• Better prices on vehicles with better crash test results – Vehicles that have high safety ratings are cheaper to insure. Safe vehicles result in less severe injuries and fewer serious injuries translates into fewer and smaller insurance claims and thus lower rates.
• GPS tracking and theft deterrents reduce rates – Choosing to buy a car that has an advanced theft prevention system can save you a little every year. Theft prevention devices such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack help track and prevent auto theft.
• Reserve insurance claims for larger damages – Insurance companies in Tennessee generally give the lowest premiums to people that do not abuse their auto insurance. If you are a frequent claim filer, you can definitely plan on either a policy non-renewal or much higher rates. Insurance coverage is intended for claims that you cannot pay yourself.

Compare prices but work with a neighborhood Memphis auto insurance agent

A lot of people prefer to talk to a local agent and doing so can bring peace of mind Agents are very good at helping people manage risk and help you file claims. The best thing about comparing rates online is that you can find better rates and still have a local agent. And supporting small agencies is definitely important in Memphis.

Once you complete this short form, your information is submitted to local insurance agents in Memphis who want to provide quotes for your business. There is no need to leave your house due to the fact that quote results will go to you. If you wish to get a rate quote from a specific insurance provider, feel free to jump over to their website and complete a quote there.

Two types of car insurance agents

If you’re trying to find a local agent, you should know the types of agencies that you can select. Insurance agents in Memphis are categorized either exclusive agents or independent agents. Both types of agents can insure your vehicles, but it’s important to point out the subtle differences since it may influence your agent selection.

Independent Insurance Agencies or Brokers

Agents that elect to be independent are not locked into one company so they have the ability to put coverage amongst many companies depending on which coverage is best. If premiums increase, the agent simply finds a different carrier and that require little work on your part.

When comparing insurance rates, you need to get insurance quotes from at least one independent agent in order to have the best price comparison.

Featured below are Memphis independent insurance agencies that may be able to give pricing information.

View more Memphis agents

Exclusive Insurance Agencies

Agents of this type can only provide one company’s prices and examples are AAA, State Farm, Farmers Insurance, and Allstate. They usually cannot provide rate quotes from other companies so you need to shop around if the rates are high. These agents are very knowledgeable on sales techniques which aids in selling service over price.

Below is a short list of exclusive agents in Memphis who can help you get rate quotes.

View more Memphis agents

Choosing an car insurance agent needs to be determined by more than just a cheap quote. These are some questions you should get answers to.

• Are aftermarket or OEM parts used to repair vehicles?
• Do you qualify for any additional discounts?
• If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
• Do they have any clout with companies to ensure a fair claim settlement?
• Are they actively involved in the community?
• What are their preferred companies if they are an independent agency?

Tennessee car insurance companies

Finding a high-quality car insurance company can be a challenge considering how many choices drivers have in Tennessee. The company rank data below may help you pick which coverage providers you want to consider when looking for cheaper rates.

Top 10 Memphis Car Insurance Companies Ranked by Claims Service

1. Travelers
2. Allstate
3. Nationwide
4. State Farm
5. GEICO
6. Liberty Mutual
7. American Family
8. Esurance
9. AAA Insurance
10. Titan Insurance

Top 10 Memphis Car Insurance Companies Overall

1. Travelers
2. USAA
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Allstate
7. State Farm
8. The Hartford
9. Safeco Insurance
10. Progressive

Don’t give up on affordable rates

You just learned many ideas to lower your Chevy Silverado 2500HD insurance premium rates in Memphis. It’s most important to understand that the more times you quote, the better likelihood of getting inexpensive Memphis auto insurance quotes. Drivers may even discover the most savings is with a small local company. These companies may cover specific market segments cheaper compared to the large companies like Progressive or GEICO.

When buying insurance coverage, don’t be tempted to sacrifice coverage to reduce premiums. There have been many situations where an insured dropped liability limits or collision coverage and found out when filing a claim that a couple dollars of savings turned into a financial nightmare. The aim is to buy the best coverage you can find at an affordable rate, not the least amount of coverage.

Much more information about insurance in Tennessee can be found below:

• Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
• Who Has Affordable Auto Insurance Rates for 17 Year Olds in Memphis? (FAQ)
• Pickups fall short in headlight tests (Insurance Institute for Highway Safety)
• Distracted Driving Statistics (Insurance Information Institute)
• Comprehensive Coverage (Liberty Mutual)
• Five Steps to Filing an Auto Insurance Claim (Insurance Information Institute)