Buying the best cheap coverage for a Chevy Silverado in New Jersey is normally pretty easy, but it is dependent upon a pretty complex algorithm that uses a lot of factors such as how you use your vehicle, the likelihood of vehicle theft, and any driving offenses on your record. Drivers in New Jersey pay on average $1,775 each year for Silverado insurance, but that figure is a valuation using a 40-year-old married male driver with full comprehensive and collision coverage and $100 deductibles.
Most likely you’re not a 40-year-old male, maybe you are single instead of married, and you might want liability-only or different deductibles. Have just a small change in the factors used in pricing a policy could result in a significant change in the cost of insurance.
There is no perfect policy for every driver, so the only real way to find the cheapest coverage for your Chevrolet is to just compare rates yourself.
The trim level of your vehicle will influence the yearly cost, so the price to insure a Silverado LS Regular Cab 2WD trim level will cost $426 less than the price to insure the fancier Silverado Crew Cab Hybrid 4WD version, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Silverado LS Regular Cab 2WD||$328||$564||$560||$34||$168||$1,654||$138|
|Silverado LS Regular Cab 4WD||$328||$564||$496||$30||$148||$1,566||$131|
|Silverado LT Regular Cab 2WD||$376||$688||$560||$34||$168||$1,826||$152|
|Silverado LT Regular Cab||$376||$688||$560||$34||$168||$1,826||$152|
|Silverado LS Extended Cab 4WD||$376||$688||$496||$30||$148||$1,738||$145|
|Silverado LT Extended Cab 4WD||$376||$688||$496||$30||$148||$1,738||$145|
|Silverado LT Extended Cab 2WD||$376||$688||$560||$34||$168||$1,826||$152|
|Silverado LS Extended Cab 2WD||$376||$688||$560||$34||$168||$1,826||$152|
|Silverado LT Crew Cab 4WD||$424||$810||$496||$30||$148||$1,908||$159|
|Silverado LS Crew Cab 2WD||$424||$810||$560||$34||$168||$1,996||$166|
|Silverado LS Crew Cab 4WD||$424||$810||$496||$30||$148||$1,908||$159|
|Silverado LT Crew Cab 2WD||$424||$810||$560||$34||$168||$1,996||$166|
|Silverado LTZ Extended Cab 2WD||$424||$810||$560||$34||$168||$1,996||$166|
|Silverado LTZ Extended Cab 4WD||$424||$810||$496||$30||$148||$1,908||$159|
|Silverado LTZ Crew Cab 2WD||$424||$810||$560||$34||$168||$1,996||$166|
|Silverado LTZ Crew Cab 4WD||$424||$810||$496||$30||$148||$1,908||$159|
|Silverado Crew Cab Hybrid 2WD||$424||$932||$496||$30||$148||$2,030||$169|
|Silverado Crew Cab Hybrid 4WD||$474||$932||$496||$30||$148||$2,080||$173|
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Table data represents married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Estimates do not factor in specific location information which can increase or decrease premium rates considerably.
Insuring your vehicle with a good quality insurance company can be a challenge considering how many companies there are to choose from in Newark. The company ratings below could help you analyze which car insurance providers you want to consider to insure your vehicles.
The ratings below include companies who write in the majority of U.S. states, so smaller companies that only insure vehicles in New Jersey are not factored into these rankings. To check rates from these and other competitive companies, just click here.
Top 10 Large Auto Insurance Providers in Newark Ranked by Customer Satisfaction
- The Hartford – 93%
- Progressive – 90%
- 21st Century – 89%
- USAA – 87%
- Mercury Insurance – 87%
- State Farm – 87%
- Travelers – 87%
- Safeco Insurance – 86%
- AAA Insurance – 86%
- American Family – 85%
Top 10 Large Auto Insurance Providers in Newark Ranked by Value
- The Hartford
- Mercury Insurance
- Farmers Insurance
- Safeco Insurance
- AAA Insurance
- 21st Century
- State Farm
- American Family
The diagram below demonstrates how deductibles can affect insurance premiums when researching cheap insurance for a Chevy Silverado. The data assumes a married male driver, comp and collision included, and no additional discounts are factored in.
The chart above illustrates that a 30-year-old driver could cut expenses by $444 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $672 by switching to a $1,000 deductible. Younger drivers, like the 20-year-old category, could possibly save $1,336 each year by using a higher deductible. If you do raise deductibles, it is a good idea to have plenty of savings on hand to allow you to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.
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New Jersey auto insurance rates are impacted by many factors which can substantially decrease or increase the price you have to pay. Simply having a birthday, buying a home instead of renting, or getting a DUI may cause policy rate changes resulting in some rates now being more affordable than others.
Not only may your situation change, but companies change prices every year to help ensure profitability. Unexpectedly high claims can result in additional premium costs, while lower claims may cause lower-cost Silverado insurance rates.
The graph below compares the cheapest car insurance in Newark, NJ for a 45-year-old male driver with a clear driving record, no claims, and solid credit. If we estimate rates based on his personal profile, 21st Century quotes the lowest car insurance rates in Newark at $1,576 each year. This is $276 less than the average rate paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades are the rest of the cheapest Newark, NJ auto insurance companies.
Now we will give the driver from the first rate comparison an at-fault accident, a lower credit rating, and a traffic ticket or two. Since every car insurance company has a different process for determining prices, analyzing rate quotes may now present a new list of affordable companies as shown below.
The Hartford now has the lowest car insurance rate in Newark with Allstate, USAA, Travelers, and Mercury also having competitive pricing. This demonstrates why drivers need to compare many different companies to find the most economical car insurance rates for a Chevy Silverado. Auto insurance prices are made up of many things and change dramatically, so the most economical option six months ago may now be quite expensive.