Cheap Rates for Chevy Silverado 2500HD Insurance in Lexington

Sick and tired of paying out the nose to pay your auto insurance bill each month? You have the same problem as many other Kentucky drivers.

Sadly, the vast majority of consumers have purchased from the same company for more than four years, and roughly 40% of drivers have never compared quotes from other companies. Consumers in Lexington could save themselves roughly $630 a year by just comparing rate quotes, but they underestimate how much savings they would realize if they switched to a cheaper policy. Because there are so many insurance providers from which to choose, it’s nearly impossible to pick the lowest price auto insurance provider.

This article will teach you a little about the most effective way to quote insurance. If you are paying for car insurance now, you will most likely be able to cut your premiums using this strategy. Drivers just have to understand the most effective way to compare company rates using one simple form.

Best companies for low-cost Chevy Silverado 2500HD insurance in Kentucky

The following companies can provide price quotes in Kentucky. If multiple companies are listed, we suggest you get rates from several of them to get the most affordable price.

Car insurance statistics and figures

The coverage information shown below highlights detailed analysis of prices for Chevy Silverado 2500HD models. Learning how insurance prices are calculated can benefit drivers when making smart choices when comparing insurance rates.

Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Kentucky minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Rates do not factor in Lexington location which can modify premiums significantly.

Choosing deductibles

A question often asked by Lexington drivers is how high should your deductibles be. The tables below highlight the difference in cost between low and high coverage deductibles. The first rate comparisons uses a $250 deductible for comp and collision and the second price grid uses a $500 deductible.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Table data does not factor in the specific area where the vehicle is garaged which can change premium rates greatly.

Based on the data above, we can derive that using a $250 deductible costs about $15 more each month or $180 every year than choosing the higher $500 deductible. Since you would pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you normally average more than 17 months between claim filings, you would most likely save money by going with a higher deductible. The numbers below show a better example of how you can come to your own conclusion.

An important thing to remember is that increasing deductibles to lower your rates results in a higher out-of-pocket expense if you have a claim. That will require some funds available in the event you need to pay the higher deductible.

The information below demonstrates how choosing different deductibles and can increase or decrease Chevy Silverado 2500HD insurance rates for different categories of driver ages. The information is based on a married female driver, comp and collision included, and no discounts are applied.

Rate difference between full and liability-only coverage

The information below illustrates the difference between Chevy Silverado 2500HD car insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Kentucky. The rates are based on no claims or driving citations, $1,000 deductibles, marital status is single, and no discounts are applied to the premium.

When to stop buying physical damage coverage

There is no definitive rule to stop paying for full coverage on your policy, but there is a general guideline you can use. If the yearly cost of full coverage is more than about 10% of replacement cost minus your deductible, then you may need to consider dropping full coverage.

For example, let’s say your Chevy Silverado 2500HD book value is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $3,000 after paying your deductible. If you are paying more than $300 annually for physical damage coverage, then you might want to consider buying only liability coverage.

There are some circumstances where only buying liability is not a good idea. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not consider dropping full coverage.

Lower-cost Chevy Silverado 2500HD insurance in Lexington

Properly insuring your vehicles can get expensive, but you might be missing out on some discounts that could help you make your next renewal payment. A few discounts will be applied at the time of purchase, but a few must be specially asked for before being credited.

• Early Payment Discounts – If you can afford to pay the entire bill rather than spreading payments over time you may have a lower total premium amount.
• Data Collection Discounts – People who choose to allow companies to scrutinize vehicle usage by using a telematic data system such as Allstate’s Drivewise and State Farm’s In-Drive system might see lower rates as long as they are good drivers.
• Senior Citizen Rates – Drivers that qualify as senior citizens may receive lower premium rates.
• Low Mileage Discounts – Fewer annual miles on your Chevy may enable drivers to earn cheaper prices.
• Seat Belt Discounts – Forcing all vehicle occupants to fasten their seat belts can save up to 10 percent (depending on the company) on the premium charged for medical payments and/or PIP.
• Distant College Student Discount – College-age children who are enrolled in a college that is more than 100 miles from Lexington without a vehicle on campus could get you a discount.
• Discount for Life Insurance – Larger companies have better auto insurance rates if you take out a life policy as well.
• Paperwork-free – Certain larger companies give back up to $50 get Lexington auto insurance online.
• Defensive Driver – Taking part in a course teaching driver safety skills could cut 5% off your bill and also improve your driving technique.

Discounts lower rates, but some of the credits will not apply to all coverage premiums. Some only reduce the cost of specific coverages such as liability and collision coverage. So when the math indicates all those discounts means the company will pay you, companies don’t profit that way.

The information below shows the comparison of Chevy Silverado 2500HD premium costs with and without discounts applied to the policy rates. The rate quotes are based on a male driver, a clean driving record, no at-fault accidents, Kentucky state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, claim-free, homeowner, multi-policy, and multi-car discounts applied.

To find auto insurance companies that have a full spectrum of discounts in Kentucky, click this link.

Local agents and insurance

Some people still like to sit down and talk to an agent and that can be a great decision Good agents can point out coverage gaps and help you file claims. An additional benefit of price shopping on the web is you can get lower premium rates but also keep your business local. Buying from neighborhood agents is definitely important in Lexington.

After filling out this simple form, your insurance data is immediately sent to local insurance agents in Lexington who will give you bids for your business. There is no need to leave your computer as quotes are delivered directly to you. If you have a need to compare prices from a specific company, you just need to visit that company’s website and fill out the quote form the provide.

Picking an company should depend on more than just a cheap price quote. Below are some questions you should ask.

• Will you get a loaner vehicle if you car is being repaired?
• Are they properly licensed to sell insurance in Kentucky?
• Do they receive special compensation for putting your coverage with one company over another?
• Is coverage determined by price?
• How much can you save by raising your physical damage deductibles?
• Do you qualify for any additional discounts?

After you get good feedback and a good coverage price, chances are good that you have found an insurance company that meets the requirements to service your policy.

The best insurance company isn’t always the cheapest

The cheapest Chevy Silverado 2500HD insurance in Lexington can be purchased on the web and also from your neighborhood Lexington agents, so you need to quote Lexington auto insurance with both to have the best rate selection. Some insurance providers don’t offer rates over the internet and most of the time these regional insurance providers only sell coverage through local independent agents.

When you buy Lexington auto insurance online, it’s not a good idea to reduce needed coverages to save money. In many cases, someone sacrificed collision coverage to discover at claim time that a couple dollars of savings turned into a financial nightmare. Your aim should be to get the best coverage possible for the lowest price, but don’t skip important coverages to save money.

Steps to saving money on Chevy Silverado 2500HD insurance in Lexington

If you want to save the most money, the best way to quote cheaper car insurance rates in Lexington is to start comparing prices yearly from companies that insure vehicles in Kentucky. Rates can be compared by following these steps.

1. Try to learn a little about the coverage provided by your policy and the things you can change to prevent expensive coverage. Many things that drive up the price like speeding tickets, accidents and a negative credit history can be amended by making minor driving habit or lifestyle changes.
2. Get rate quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from one company like GEICO or Farmers Insurance, while independent agents can give you price quotes from multiple sources.
3. Compare the new rate quotes to your current policy and see if you can save money. If you find a better price and buy the policy, make sure there is no coverage gap between policies.
4. Notify your company or agent to cancel your current policy. Submit payment and a signed application to the newly selected company. Once received, place the new certificate verifying coverage with your registration paperwork.

A tip to remember is to use similar coverage information on each quote request and and to get quotes from as many companies as possible. This helps ensure an accurate price comparison and a thorough selection of prices.

For more information, feel free to browse the resources below:

• Car Insurance FAQ (Trusted Choice)
• Who Has Affordable Lexington Car Insurance Rates for Good Drivers? (FAQ)
• Who Has Affordable Car Insurance Rates for a Honda CR-V in Lexington? (FAQ)
• How Much are Auto Insurance Quotes for a Subaru Outback in Lexington? (FAQ)
• Who Has Affordable Auto Insurance for Drivers Over Age 70 in Lexington? (FAQ)
• Who Has Affordable Auto Insurance Quotes for a 20 Year Old Male in Lexington? (FAQ)
• Where can I buy Insurance? (Insurance Information Institute)
• Reducing Your Risks in a Car Crash Video (iihs.org)
• Shopping for a Safe Car (Insurance Information Institute)