What Auto Insurance is Cheapest for a Chevrolet Silverado in Las Vegas?

Buying affordable insurance for a Chevy Silverado in Nevada depends on a whole bunch of rating criteria such as your age, if you have a tendency to file claims, and any past driving violations you may have had. Nevada drivers pay approximately $948 each year to insure their Silverado, but that cost is an estimation calculated based on a 50-year-old married male driver with full physical damage coverage and $250 deductibles.

There’s a good chance you are not 50 and maybe not even a male, possibly single instead of married, or maybe you want different physical damage deductibles. This shows why the only real way to find cheap car insurance rates for your Chevrolet is to compare as many rates as possible.

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Your Chevrolet’s trim level will influence the coverage cost, so the rate you pay to insure a Silverado LS Regular Cab 2WD trim level will be $202 lower than the price to insure the more well-appointed Silverado Crew Cab Hybrid 4WD version, as shown below.

Chevrolet Silverado Insurance Rates in Las Vegas, NV
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Silverado LS Regular Cab 2WD $162 $280 $334 $20 $100 $896 $75
Silverado LS Regular Cab 4WD $162 $280 $296 $18 $88 $844 $70
Silverado LT Regular Cab 2WD $186 $342 $334 $20 $100 $982 $82
Silverado LT Regular Cab $186 $342 $334 $20 $100 $982 $82
Silverado LS Extended Cab 4WD $186 $342 $296 $18 $88 $930 $78
Silverado LT Extended Cab 4WD $186 $342 $296 $18 $88 $930 $78
Silverado LT Extended Cab 2WD $186 $342 $334 $20 $100 $982 $82
Silverado LS Extended Cab 2WD $186 $342 $334 $20 $100 $982 $82
Silverado LT Crew Cab 4WD $210 $402 $296 $18 $88 $1,014 $85
Silverado LS Crew Cab 2WD $210 $402 $334 $20 $100 $1,066 $89
Silverado LS Crew Cab 4WD $210 $402 $296 $18 $88 $1,014 $85
Silverado LT Crew Cab 2WD $210 $402 $334 $20 $100 $1,066 $89
Silverado LTZ Extended Cab 2WD $210 $402 $334 $20 $100 $1,066 $89
Silverado LTZ Extended Cab 4WD $210 $402 $296 $18 $88 $1,014 $85
Silverado LTZ Crew Cab 2WD $210 $402 $334 $20 $100 $1,066 $89
Silverado LTZ Crew Cab 4WD $210 $402 $296 $18 $88 $1,014 $85
Silverado Crew Cab Hybrid 2WD $210 $462 $296 $18 $88 $1,074 $90
Silverado Crew Cab Hybrid 4WD $234 $462 $296 $18 $88 $1,098 $92
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Data assumes married male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Nevada minimum liability limits. Discounts applied include homeowner, multi-vehicle, claim-free, safe-driver, and multi-policy. Rates do not factor in specific garaging location which can raise or lower coverage prices significantly.

Figuring out which company has the most affordable insurance rates for a Chevy Silverado will take more work than just picking a company at random. Every insurance provider has their own process to set policy rates, so let’s rank the insurance companies with the overall best prices in Nevada.

It’s a good idea to know that Las Vegas insurance rates are based on many factors that will increase or decrease the cost of coverage. Simply getting older, moving to a new city, or having an accident can trigger changes in premium resulting in some companies being cheaper than competitors.

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Rankings for the cheapest Nevada auto insurance companies
Rank Company Cost Per Year
1 Allied $911
2 Travelers $930
3 Capital $1,008
4 Oregon Mutual $1,158
5 American Family $1,182
6 Progressive $1,202
7 GEICO $1,219
8 Nationwide $1,282
9 USAA $1,323
10 Safeco $1,346
11 Farmers $1,482
12 MetLife $1,583
13 Country $1,602
14 State Farm $1,681
15 Mercury $1,753
16 Victoria $2,031
17 Liberty Mutual $2,183
18 Bristol West $2,407
19 Allstate $2,408
20 Encompass $2,630
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Allied has some of the most affordable car insurance rates in Las Vegas at around $911 per year. Travelers, Capital, Oregon Mutual, and American Family would also be considered some of the most economical Las Vegas, NV insurance companies.

As shown above, if you buy coverage from Travelers and switched to Allied, you might achieve a yearly price reduction of about $19. Nevada drivers with Capital could save as much as $97 a year, and Oregon Mutual insureds might lower prices by $247 a year.

It’s important to note that these premium estimates are averages for all types of insureds and vehicles and do not take into consideration an exact location for a Chevy Silverado. So the auto insurance company that fits you best may not even be in the top 20 companies in the list above. That affirms the importance of why you need to get quotes using your own individual information.

Difference between full coverage and liability only rates

Buying cheaper insurance is important to most people, and one easy way to find cheaper insurance for a Chevy Silverado is to only buy liability coverage. The diagram below illustrates the difference between insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Nevada. The costs are based on a clean driving record, no claims, $250 deductibles, marital status is single, and no discounts are applied to the premium.

As an average for all age groups, comp and collision coverage costs an extra $1,750 per year over liability only. That is a significant amount which raises the question if full coverage is worth the money. There is no definitive guideline of when to drop physical damage coverage on your policy, but there is a broad guideline. If the yearly cost for physical damage coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then it may be the right time to buy liability only.

For example, let’s pretend your vehicle’s settlement value is $8,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $7,500 after paying the physical damage deductible. If you are paying in excess of $750 a year for full coverage, then you might want to consider buying only liability coverage.

There are some situations where removing full coverage is not a good idea. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

Low rates today, overpriced tomorrow

Las Vegas, NV insurance rates are calculated based on many things that may substantially change the cost of a policy. Simply having another birthday, having a claim, or getting a few speeding tickets can cause premium changes that can make some companies more affordable than competitors. Not only that, but companies change premium rates without warning in order to maintain liquidity for claims. Higher than usual claims can result in additional premium costs, while less frequent claims can cause lower-priced Silverado insurance rates.

To illustrate this point, the graph below shows which company has the cheapest car insurance in Las Vegas, NV for a 35-year-old female driver with a good driving record, no prior claims, and a high credit rating. Based on her current rating profile, Travelers may have the lowest car insurance rates in Las Vegas at $1,628 per year. This is $54 more than the average rate paid by Nevada drivers of $1,574. Allied, Capital, Oregon Mutual, and American Family are the remainder of the cheapest Las Vegas, NV auto insurance companies.

The chart below compares rates after we give the driver from the first rate comparison an accident claim, a lower credit rating, and a traffic citation. Because every insurance company has a unique approach to determine rates, analyzing rates may now result in a different list of the cheapest companies as shown below.

Progressive now has the cheapest auto insurance in Las Vegas with Nationwide, USAA, Capital, and Safeco also having competitive pricing. This example proves why consumers need to take the time to compare lots of rates when trying to get the lowest insurance rates for a Chevy Silverado. Rates consist of many risk factors and can change without notice, so the best option the last time you shopped around may now be quite expensive.

If you aren’t clear which coverage you need and would like to have a professional recommendation when comparing insurance rates for a Chevy Silverado, the agencies below are willing to aid you in deciding which auto insurance policy would work best for you.

To locate an agency in your neighborhood, click the button below the list.

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