Are you the proud owner of a $14,000 Silverado pickup truck? If so, then you might be wondering just how much full coverage auto insurance is going to cost you. After all, protecting your investment is important – but at what price?
In this blog post, we’re going to take a deep dive into the world of auto insurance and give you some insights on what kind of premiums you can expect for your Silverado. So pull up a chair and get ready to learn everything you need to know about insuring one of America’s most popular trucks!
What is Full Coverage Auto Insurance?
Full coverage auto insurance is a type of policy that provides comprehensive protection for you and your car in the event of an accident. This coverage includes damage to your vehicle, regardless of who was at fault, as well as medical expenses, lost wages, and other costs associated with a car crash.
There are three types of full coverage auto insurance: personal injury protection (PIP), property damage liability (PDL), and uninsured motorist (UM) protection. PIP covers you and any passengers in your car for injuries that you or they sustained in an accident. PDL pays for damages to your car caused by someone else. UM covers you if someone driving without insurance hits your car, even if they were at fault.
Each policy has its own set of exclusions and limitations, so it’s important to read the fine print before buying one. Full coverage auto insurance typically costs about twice as much as standard liability insurance, but it’s a good investment because it protects you financially in case of an accident.
Types of Coverage
There are three types of auto insurance coverage: bodily injury liability, property damage liability, and collision. Each provides different levels of protection for you and your vehicle in the event of a crash.
Bodily injury liability covers you financially if you’re held liable for someone else’s injuries in a car accident. This type of coverage is usually required by law in most states.
Property damage liability covers your car and any property it damages in a crash. This coverage can help you pay for damage to other cars, homes, and businesses.
Collision covers the cost of repairing or replacing your car if it’s damaged in a crash. This coverage is optional but is often recommended by insurance companies.
What Is Included in Full Coverage Auto Insurance?
Full coverage auto insurance is the most comprehensive type of car insurance available. This policy will cover you in case of damage to or theft of your vehicle. Some common features of a full coverage policy include:
Collision coverage: This covers damages that occur when your car collides with another object. It will pay for damages to the vehicle itself and any injuries that may be sustained as a result of the accident.
Liability coverage: This protects you financially if someone is injured or killed as a result of an accident that was caused by you or your vehicle.
Property damage coverage: This covers damage to property, including people, animals, and property belonging to other drivers in an accident.
How Much Does Full Coverage Auto Insurance Cost for Silverado Pickup Truck??
When you are shopping for full coverage auto insurance for your Chevy Silverado pickup truck, you will want to make sure that the policy that you purchase offers the amount of coverage that you need. There are many factors to consider when choosing the right level of coverage for your truck, including:
Your driving record
The type and value of your vehicle
The location where you drive
The type of coverage that you need
Each policy has a different cost, so it is important to shop around and get a quote from several providers.
Here are some general guidelines on how much full coverage auto insurance may cost for a Silverado pickup truck:
If your driving record is clean, rates may be cheaper than if your history includes accidents or tickets. Rates also increase as the value of the vehicle increases. Coverage options may include liability, comprehensive and collision. A typical rate for a Silverado pickup with liability insurance would be $2,000 per year. Comprehensive and collision coverage can add an additional $1,000 or more per year to the cost of your policy.
A comprehensive policy provides protection in case of damage caused by things other than collisions, such as theft or vandalism. Collision coverage pays for damages caused when the truck runs into something else while being driven. A collision policy could cost up to $50,000 per occurrence.
Conclusion
Assuming you have a good driving record and no claims on your vehicle, full coverage auto insurance will cost you between $1,490 and $2,590 per year. That ranges from about 10% to 20% more than the base price of $14,000 for a silverado pickup truck. Factor in an annual deductible of $1,000 and you’re looking at paying anywhere from $15,490 to $21,590.
