Unbelievably, nearly 70% of customers renewed their policy with the same company for more than four years, and virtually 40% of consumers have never even shopped around for lower-cost coverage. Most drivers in the United States could save an average of $859 each year just by shopping around, but they think it’s difficult to compare rate quotes.
The preferred way to get low-cost car insurance rates is to start comparing prices regularly from different companies who sell insurance in Toledo. You can compare prices by following these steps.
First, read about how companies price auto insurance and the changes you can make to keep rates low. Many things that increase rates such as getting speeding tickets and your credit history can be eliminated by making minor changes in your lifestyle.
Second, get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from a single company like GEICO or Allstate, while independent agencies can give you price quotes from multiple sources.
Third, compare the quotes to your current policy and see if you can save money. If you find a lower rate and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, notify your current company to cancel your current car insurance policy. Submit the application along with any required down payment to your new company or agent. As soon as you can, put the new proof of insurance certificate in an accessible location in your vehicle.
The key thing to know about shopping around is to try to use identical limits and deductibles on each quote request and and to get prices from every company you can. This provides an apples-to-apples comparison and and a good selection of different prices.
If you currently have auto insurance, you will surely be able to shop for the lowest rates using the ideas presented in this article. Finding the lowest cost auto insurance in Toledo is not as hard as you think. Nevertheless, Ohio consumers need to learn how the larger insurance companies charge you for coverage.
Four factors that impact insurance rates
It’s important that you understand the rating factors that help determine your policy premiums. If you have some idea of what determines premiums, this helps enable you to make changes that can help you get lower rates.
The factors shown below are some of the most rate-impacting factors auto insurance companies consider when setting prices.
High comp and collision deductibles reduce premiums – The deductibles you choose tell how much you are required to spend before your auto insurance pays a claim. Physical damage insurance, aka comp and collision, covers damage that occurs to your car. Some instances where coverage would apply are rear-ending another vehicle, damage caused by hail, and having a roll-over accident. The more the insured has to pay upfront, the less money you will pay for auto insurance.
Premiums and your address – Having an address in a small town may provide you with better prices if you are looking for the lowest rates. Drivers in populated areas have to deal with more auto accidents and more severe claims. Fewer drivers on the road translates into fewer accidents and also fewer theft and vandalism claims.
Lower annual miles equals lower premium – The more miles you rack up on your Chevy in a year’s time the more it will cost to insure it. Most companies price each vehicle’s coverage based upon how much you drive. Vehicles that are left in the garage receive better premium rates than cars that get driven a lot. Verify your auto insurance declarations sheet reflects the proper vehicle usage. Incorrect rating for your Silverado 3500HD can cost quite a bit.
Add-on coverages push up costs – There are a lot of extra bells and whistles you can purchase on your Silverado 3500HD policy. Coverages for rental car reimbursement, high-cost glass coverage, and Farm Bureau memberships may not be needed and are just wasting money. The coverages may be enticing when deciding what coverages you need, but if you have no use for them eliminate them to save money.
All the larger auto insurance companies like 21st Century, Allstate and State Farm allow you to get coverage prices online. Getting online rates for Chevy Silverado 3500HD insurance in Toledo doesn’t take a lot of time as you just type in the coverages you want on the page. After you submit the form their quoting system gets credit information and your driving record and returns pricing information.
The ability to get online rates for Chevy Silverado 3500HD insurance in Toledo helps simplify price comparisons, and it’s absolutely necessary to get many rate quotes in order to get a lower rate.
To use this form to compare rates, compare rate quotes from the providers shown below. To compare your current rates, we recommend you copy coverages and limits identical to your current policy. This helps ensure you will be getting comparison quotes based on similar coverages.
The providers in the list below are ready to provide comparison quotes in Ohio. If you want the best car insurance in Toledo, we recommend you get prices from several of them to get a more complete price comparison.
Rates and detailed analysis
The information displayed below covers different rate quotes for Chevy Silverado 3500HD models. Knowing how car insurance prices are figured is important to be able to make smart policy decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado 3500HD LT Crew Cab 4WD||$240||$550||$344||$20||$102||$1,256||$105|
|Silverado 3500HD LT Extended Cab 4WD||$240||$550||$344||$20||$102||$1,256||$105|
|Silverado 3500HD LT Crew Cab 2WD||$240||$478||$274||$16||$82||$1,090||$91|
|Silverado 3500HD LTZ Crew Cab 2WD||$266||$478||$274||$16||$82||$1,116||$93|
|Silverado 3500HD LT Crew Cab Diesel 2WD||$266||$550||$274||$16||$82||$1,188||$99|
|Silverado 3500HD LTZ Crew Cab Diesel 2WD||$266||$550||$274||$16||$82||$1,188||$99|
|Get Your Own Custom Quote Go|
Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Price information does not factor in specific location which can raise or lower premiums greatly.
The information below shows how choosing a deductible and can influence Chevy Silverado 3500HD insurance rates for different insured age categories. The prices are based on a married female driver, comp and collision included, and no discounts are applied to the premium.
Chevrolet Silverado 3500HD insurance rates: Men versus women
The illustration below illustrates the difference between Chevy Silverado 3500HD auto insurance costs for male and female drivers. The rates are based on no violations or accidents, comp and collision included, $250 deductibles, marital status is single, and no other discounts are factored in.
Rate comparison of full coverage and liability-only
The illustration below compares Chevy Silverado 3500HD insurance costs with full coverage and liability only. The price estimates are based on no claims or violations, $250 deductibles, marital status is single, and no discounts are applied to the premium.
When to drop comprehensive and collision
There is no definitive formula to exclude comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost minus the deductible, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Chevy Silverado 3500HD settlement value is $5,000 and you have $1,000 deductibles. If your vehicle is severely damaged, you would only receive $4,000 after paying your policy deductible. If premium cost is more than $400 annually for comprehensive and collision coverage, then you might consider buying liability only.
There are a few situations where removing full coverage is not in your best interest. If you haven’t satisfied your loan, you have to maintain full coverage as part of the loan conditions. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not remove full coverage.
Why you need Silverado 3500HD insurance in Ohio
Despite the high insurance cost for a Chevy Silverado 3500HD in Toledo, paying for insurance is required in Ohio but also provides important benefits.
- Most states have minimum liability requirements which means you are required to carry a specific level of liability insurance in order to get the vehicle licensed. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your Chevy has a lienholder, almost every bank will have a requirement that you buy insurance to ensure loan repayment if the vehicle is totaled. If coverage lapses or is canceled, the lender may insure your Chevy for a much higher rate and force you to pay a much higher amount than you were paying before.
- Insurance preserves not only your Chevy but also your financial assets. It will also cover medical expenses for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also pays expenses related to your legal defense if you are named as a defendant in an auto accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of carrying enough insurance definitely exceed the price paid, particularly when you have a large claim. Today the average American driver is overpaying over $825 a year so smart consumers compare quotes every year to save money.
Earn discounts on Toledo auto insurance
Car insurance can cost a lot, but you might find some hidden discounts that you may not know about. Most are applied when you quote, but less common discounts must be asked for in order for you to get them.
- Driver Safety – Successfully completing a class that teaches safe driver techniques could possibly earn you a 5% discount and also improve your driving technique.
- New Vehicle Savings – Adding a new car to your policy can get you a discount because newer models are generally safer.
- Life Insurance – Not all insurance companies offer life insurance, but some may give you a discounted rate on car insurance if you buy a life insurance policy as well.
- Driver’s Education for Students – Teen drivers should enroll in driver’s education if offered at their school.
- Discount for Low Mileage – Fewer annual miles on your Chevy can earn slightly better prices than normal.
- Driving Data Discount – Insureds that choose to allow data collection to look at their driving habits by using a telematics device like Drivewise from Allstate or In-Drive from State Farm could save a few bucks if they are good drivers.
- Distant Student Discount – Older children living away from Toledo attending college and don’t have a car can receive lower rates.
We need to note that some of the credits will not apply to the entire policy premium. A few only apply to the cost of specific coverages such as comprehensive or collision. If you do the math and it seems like all the discounts add up to a free policy, it doesn’t quite work that way. Any amount of discount should help lower the cost of your policy.
The information below compares Chevy Silverado 3500HD annual premium costs with and without discounts applied to the rates. The information is based on a female driver, no claims, a clean driving record, Ohio state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, safe-driver, claim-free, multi-policy, marriage, and homeowner discounts applied.
The best auto insurance companies and a selection of discounts are shown below.
- State Farm may include discounts for defensive driving training, driver’s education, accident-free, good student, Drive Safe & Save, and Steer Clear safe driver discount.
- GEICO policyholders can earn discounts including driver training, anti-theft, multi-vehicle, emergency military deployment, and seat belt use.
- SAFECO offers premium reductions for teen safety rewards, multi-car, accident prevention training, anti-lock brakes, bundle discounts, and anti-theft.
- Farmers Insurance may offer discounts for pay in full, early shopping, mature driver, multi-car, distant student, and homeowner.
- AAA discounts include anti-theft, multi-car, AAA membership discount, education and occupation, and good driver.
- USAA has savings for family discount, multi-policy, loyalty savings, new vehicle, defensive driver, driver training, and vehicle storage.
When getting free Toledo car insurance quotes, it’s a good idea to each company or agent the best way to save money. Depending on the company, some discounts might not be available to policyholders in Toledo. For a list of auto insurance companies with significant discounts in Toledo, follow this link.
Compare rate quotes but still have a local neighborhood Toledo car insurance agent
A lot of people just prefer to talk to a local agent. One of the benefits of comparing insurance prices online is the fact that you can find cheap insurance rates and still buy from a local agent. And supporting small agencies is especially important in Toledo.
Once you complete this simple form, the coverage information is instantly submitted to participating agents in Toledo who will return price quotes for your business. It simplifies rate comparisons since you won’t have to drive around as quotes are delivered to you instantly. You can most likely find cheaper rates and a licensed agent to work with. In the event you want to get a rate quote from a specific company, feel free to search and find their rate quote page and give them your coverage information.
Listed below are agents in Toledo that are able to give price quotes for Chevy Silverado 3500HD insurance in Toledo.
- Nationwide Insurance – AOK Agency
5207 Secor Rd – Toledo, OH 43623 – (419) 472-9405 – View Map
- Bud Moody – State Farm Insurance Agent
1751 W Sylvania Ave – Toledo, OH 43613 – (419) 471-9909 – View Map
- Allstate Insurance: Tim Wyrostek
2008 N Holland Sylvania Rd – Toledo, OH 43615 – (419) 536-5100 – View Map
- Brooks Insurance
1120 Madison Ave – Toledo, OH 43604 – (419) 243-1191 – View Map
Choosing an insurer is decision based upon more than just a low price. Below are some questions you should ask.
- What company do they have the most business with?
- Do they review policy coverages at every renewal?
- Is insurance their full-time profession?
- Are there any discounts for paying up front?
- Are they able to influence company decisions when a claim is filed?
Smart shoppers get results
When you buy Toledo car insurance online, make sure you don’t skimp on coverage in order to save money. There are too many instances where an insured dropped liability coverage limits and discovered at claim time that they should have had better coverage. Your objective should be to buy the best coverage you can find at the best price while not skimping on critical coverages.
The cheapest Chevy Silverado 3500HD insurance in Toledo is attainable on the web as well as from insurance agents, so you need to quote Toledo car insurance with both to get a complete price analysis. A few companies may not offer rate quotes online and usually these regional carriers provide coverage only through independent insurance agents.
Drivers who switch companies do it for a number of reasons such as lack of trust in their agent, not issuing a premium refund, denial of a claim or even an unsatisfactory settlement offer. It doesn’t matter what your reason, choosing a new company is easier than you think.
For more information, feel free to visit the following helpful articles:
- What is a Telematics Device? (Allstate)
- How Much are Auto Insurance Quotes for Nurses in Toledo? (FAQ)
- Safety Belts FAQ (iihs.org)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)