How Much is Jersey City Auto Insurance for a Chevrolet Silverado?

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Buying the best cheap car insurance for a Chevy Silverado in New Jersey can be really easy, but it hinges on an enormous amount of rating factors such as your age, if you are a frequent claim filer, and citations or violations on your driving record. New Jersey drivers pay on average $1,548 annually to insure their Silverado, but that figure is a projection based upon a 50-year-old single male driver with both comprehensive and collision coverage and $500 deductibles.

Most likely you are not 50 and maybe not even a male, maybe you are married instead of single, or maybe you're a renter instead of a homeowner. Having just a slight change in the criteria used to calculate rates may result in a big change in the cost of insurance for a Chevy Silverado.

Having different needs demonstrates why the only way to find the cheapest insurance price for your Chevrolet is to compare as many rates as you can. In just a couple of minutes you can get prices from the best companies around.

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The trim level of your vehicle will have an impact the cost of insurance, so the price you pay to insure a Silverado LS Regular Cab 2WD will be $282 cheaper than the insurance cost for the more well-appointed Silverado Crew Cab Hybrid 4WD version, as shown in the chart below.

Chevrolet Silverado Insurance Rates in Jersey City, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Silverado LS Regular Cab 2WD $226 $428 $614 $36 $184 $1,488 $124
Silverado LS Regular Cab 4WD $226 $428 $544 $32 $162 $1,392 $116
Silverado LT Regular Cab 2WD $260 $520 $614 $36 $184 $1,614 $135
Silverado LT Regular Cab $260 $520 $614 $36 $184 $1,614 $135
Silverado LS Extended Cab 4WD $260 $520 $544 $32 $162 $1,518 $127
Silverado LT Extended Cab 4WD $260 $520 $544 $32 $162 $1,518 $127
Silverado LT Extended Cab 2WD $260 $520 $614 $36 $184 $1,614 $135
Silverado LS Extended Cab 2WD $260 $520 $614 $36 $184 $1,614 $135
Silverado LT Crew Cab 4WD $294 $612 $544 $32 $162 $1,644 $137
Silverado LS Crew Cab 2WD $294 $612 $614 $36 $184 $1,740 $145
Silverado LS Crew Cab 4WD $294 $612 $544 $32 $162 $1,644 $137
Silverado LT Crew Cab 2WD $294 $612 $614 $36 $184 $1,740 $145
Silverado LTZ Extended Cab 2WD $294 $612 $614 $36 $184 $1,740 $145
Silverado LTZ Extended Cab 4WD $294 $612 $544 $32 $162 $1,644 $137
Silverado LTZ Crew Cab 2WD $294 $612 $614 $36 $184 $1,740 $145
Silverado LTZ Crew Cab 4WD $294 $612 $544 $32 $162 $1,644 $137
Silverado Crew Cab Hybrid 2WD $294 $706 $544 $32 $162 $1,738 $145
Silverado Crew Cab Hybrid 4WD $326 $706 $544 $32 $162 $1,770 $148
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Premium data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Rates do not factor in specific location which can change premiums noticeably.

Figuring out which companies offer the cheapest insurance rates for a Chevy Silverado may require more work than just quoting one company's rates. Each insurance company has a different process for establishing rates, so we'll take a look at the insurance companies with the overall cheapest rates in Jersey City, NJ.

It's important to know that Jersey City insurance rates are based on many factors that will increase or decrease the price you pay. Improving your credit rating, becoming a homeowner, or getting a couple of tickets may cause policy rate changes that can now make some companies cheaper than competitors.

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Rankings for the cheapest car insurance companies in New Jersey
Rank Company Cost Per Year
1 21st Century $1,078
2 Travelers $1,180
3 New Jersey Manufacturers $1,310
4 Palisades $1,341
5 Penn National $1,379
6 California Casualty $1,481
7 Allstate $1,493
8 The Hartford $1,521
9 Mercury $1,587
10 USAA $1,600
11 Amica $1,832
12 Esurance $1,913
13 Progressive $1,938
14 MetLife $2,010
15 State Farm $2,226
16 GEICO $2,240
17 Encompass $2,327
18 Liberty Mutual $2,920
19 Hanover $3,869
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21st Century offers some of the most affordable car insurance rates in Jersey City at around $1,078 annually. Travelers, New Jersey Manufacturers, Palisades, and Penn National also make the cut as some of the cheaper Jersey City, NJ insurance companies.

In the above example, if you are a policyholder with Penn National and switched to Travelers, you might realize a yearly price reduction of roughly $199. Policyholders with California Casualty might save as much as $301 a year, and Allstate customers might reduce rates by $313 a year.

Bear in mind that those policy rates are averages for all types of drivers and the different vehicles they drive and do not take into consideration an exact vehicle garaging location for a Chevy Silverado. So the insurer that is most affordable for your situation may not even be in the top 19 companies shown above. That underscores the importance of why you need to get quotes using your own driver information and specific vehicle type.

Comparison of full coverage and liability-only policies

Saving on insurance is probably important to most drivers, and one good way to reduce the cost of insurance for a Chevy Silverado is to buy only liability coverage. The illustration below shows the difference between auto insurance rates when comparing full coverage to liability only. The data assumes no claims or violations, $1,000 deductibles, single status, and no discounts are applied to the premium.

If we average all the age groups together, comprehensive and collision coverage on your policy costs $2,377 per year more than buying just liability insurance. That is a large expense and it proposes the question if full coverage is worth the money. There is no exact rule that works best for making the decision to drop physical damage coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.

There are a few cases where removing full coverage is not a good plan. If you still owe money on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should keep full coverage on your policy.

Chances are good that you're overpaying for Silverado insurance

Jersey City insurance rates are determined by lots of factors that may substantially change the price of your policy. Simply improving your credit, becoming a homeowner, or getting a DUI may prompt premium changes that can make some companies much cheaper than others. Additionally, companies change premium rates as often as every three months in order to maintain liquidity for claims. Significantly higher losses may result in higher prices, while profitable underwriting may result in more affordable Silverado insurance rates.

To illustrate this example, the data below compares the cheapest car insurance in Jersey City, NJ for a 30-year-old male driver with a good driving record, no prior claims, and a good credit rating. Based on his current situation, 21st Century might offer the most affordable car insurance rates in Jersey City at $1,481 per year. This is $371 less than the average rate paid by New Jersey drivers of $1,852. Travelers, New Jersey Manufacturers, Penn National, and Palisades round out the rest of the cheapest Jersey City, NJ auto insurance companies.

Let's now give the driver in the first example some claims, less-than-perfect credit, and a speeding citation. Since every car insurance company uses their own calculation to set policy rates, comparing rates may now present a completely different list of the cheapest Jersey City car insurance companies as shown below.

The Hartford now has the best auto insurance rate in Jersey City, NJ with Allstate, USAA, Travelers, and Mercury also being competitive. This example proves why Jersey City drivers need to compare many different companies when trying to get the most budget-friendly auto insurance quotes for a Chevy Silverado. Auto insurance prices are determined by many risk factors and change substantially, so the most affordable company three years ago may now be quite expensive.

How to find more affordable car insurance for a Chevy Silverado

Lowering your rates is not difficult, and here are many money-saving solutions that can help New Jersey drivers get low-cost auto insurance.

The final tip is extremely valuable, as we discussed in this write-up. Prices can change considerably in a year, so don't be hesitant to change insurance companies if a lower-cost policy is available.

Staying with the same company for years is fine, but it's not a good idea if that dedication is costing a wad of cash every year. It only takes a couple minutes to shop around to find cheaper insurance for a Chevy Silverado in Jersey City.

The Jersey City, NJ, insurance agents below are a good start to aid you in deciding which policy fits your needs best, as some drivers wish to have a consultation when comparing insurance rates for a Chevy Silverado. It can be challenging to find the cheapest car insurance policy, so professional agents can give satisfaction knowing your coverage gives you sufficient protection if you have a claim.

To locate a Jersey City car insurance agency close to you, click the button below the list.

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