What Insurance is Cheapest for a Chevrolet Silverado in Toledo?

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Buying economical insurance for a Chevy Silverado in Ohio is dependent upon an enormous amount of factors such as your gender, your profession, and any driving offenses on your record. Drivers pay on average $875 annually to insure their Silverado, but that price is a valuation using a 30-year-old married male driver with full comprehensive and collision coverage and $100 deductibles.

Odds are that you may not be 30 years old (or even male), maybe you are single instead of married, or maybe you prefer to not insure for full coverage. Having the smallest difference in rating criteria or coverage limits may result in a big change in the cost of insuring your Silverado.

Insurance is an individual thing, so the best way to find cheap auto insurance rates for your Chevrolet is to compare rates from as many companies as possible.

Find Cheaper Chevrolet Silverado Insurance

The specific model of Silverado will have an impact the annual cost of coverage, so the cost to insure a Silverado LS Regular Cab 2WD trim level will cost $224 less than the cost to insure the fancier Silverado Crew Cab Hybrid 4WD version, as shown in the chart below.

Chevrolet Silverado Insurance Rates in Toledo, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Silverado LS Regular Cab 2WD $170 $290 $256 $16 $76 $808 $67
Silverado LS Regular Cab 4WD $170 $290 $226 $14 $68 $768 $64
Silverado LT Regular Cab 2WD $196 $352 $256 $16 $76 $896 $75
Silverado LT Regular Cab $196 $352 $256 $16 $76 $896 $75
Silverado LS Extended Cab 4WD $196 $352 $226 $14 $68 $856 $71
Silverado LT Extended Cab 4WD $196 $352 $226 $14 $68 $856 $71
Silverado LT Extended Cab 2WD $196 $352 $256 $16 $76 $896 $75
Silverado LS Extended Cab 2WD $196 $352 $256 $16 $76 $896 $75
Silverado LT Crew Cab 4WD $220 $416 $226 $14 $68 $944 $79
Silverado LS Crew Cab 2WD $220 $416 $256 $16 $76 $984 $82
Silverado LS Crew Cab 4WD $220 $416 $226 $14 $68 $944 $79
Silverado LT Crew Cab 2WD $220 $416 $256 $16 $76 $984 $82
Silverado LTZ Extended Cab 2WD $220 $416 $256 $16 $76 $984 $82
Silverado LTZ Extended Cab 4WD $220 $416 $226 $14 $68 $944 $79
Silverado LTZ Crew Cab 2WD $220 $416 $256 $16 $76 $984 $82
Silverado LTZ Crew Cab 4WD $220 $416 $226 $14 $68 $944 $79
Silverado Crew Cab Hybrid 2WD $220 $478 $226 $14 $68 $1,006 $84
Silverado Crew Cab Hybrid 4WD $246 $478 $226 $14 $68 $1,032 $86
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Prices do not factor in Toledo location which can change rates greatly.

Ohio auto insurance companies

Selecting the top company is difficult considering how many different insurance companies sell coverage in Toledo. The company ratings shown below can help you select which car insurance providers to look at when shopping insurance around for a Chevy Silverado.

The rankings below are only comprised of large nationwide companies, so companies that have a smaller presence will not be included in this list. To check prices and find cheaper insurance for a Chevy Silverado, just click here.

Top 10 Large Car Insurance Companies in Toledo Ranked by Customer Satisfaction

  1. USAA - 92%
  2. Erie Insurance - 88%
  3. American Family - 88%
  4. State Farm - 88%
  5. Nationwide - 88%
  6. 21st Century - 88%
  7. AAA Insurance - 87%
  8. Liberty Mutual - 87%
  9. Farmers Insurance - 87%
  10. The Hartford - 87%

The information below demonstrates how choosing different deductibles can affect premium costs when trying to find cheap insurance for a Chevy Silverado. The prices are based on a married male driver, comp and collision included, and no discounts are applied to the premium.

As shown above, a 50-year-old driver could cut expenses by $190 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $286 by switching to a $1,000 deductible. Young drivers, such as the 20-year-old example, have the ability to save $630 or more just by using higher deductibles.

If you do make the decision to raise your deductibles, it is necessary to have plenty of savings on hand to enable you to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.

Cost of full coverage in Toledo

Buying cheaper auto insurance should be important to most drivers, and one of the best ways to find cheaper insurance for a Chevy Silverado is to only buy liability coverage. The chart below shows the difference between insurance costs with full coverage compared to only the Ohio minimum liability coverage. The rate quotes are based on no accidents, no driving violations, $250 deductibles, marital status is single, and no discounts are applied to the premium.

If averaged out across all ages, physical damage insurance costs $1,547 per year over and above liability coverage. That proposes the question if paying for full coverage is a waste of money. There is no definitive guideline for dropping full coverage, but there is a guideline you can consider. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

There are some conditions where removing full coverage is not financially feasible. If you still owe money on your vehicle, you have to keep full coverage in order to satisfy the requirements of the loan. Also, if you can't afford to buy a different vehicle if your current one is in an accident, you should not consider dropping full coverage.

Careless Toledo drivers pay higher rates

The ideal way to receive good auto insurance prices for a Silverado pickup is to be a cautious driver and have a clean driving record. The information below demonstrates how speeding tickets and at-fault claims raise car insurance rates for different insured age categories. The rates are based on a single male driver, comp and collision included, $1,000 deductibles, and no discounts are applied.

The chart shows that the average cost of a car insurance policy in Ohio per year with no accidents or violations is $1,293. Get two speeding tickets and the average cost rises to $1,706, an increase of $413 each year. Then throw in two accidents along with the two speeding tickets and the 12-month cost of auto insurance for a Chevy Silverado jumps again to an average of $3,315. That's an increase of $2,022, or $168 per month, just for not being a responsible driver!