The average cost of car insurance for a Chevy Silverado is relatively cheap at $1,340 per year. State Farm offers the cheapest policy. Car insurance rates vary based on your car’s model year, your age and your provider.
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeeks Head of Insurance. He has been studying the insurance market for more than five years, doing his own research and making content that is specific to each type of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www. cnbc. com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do. html), [NBC News](https://www. nbcnews. com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable. com/article/tesla-insurance-rates). A bachelor’s degree from Boston College and a master’s degree in economics and international relations from Johns Hopkins University are what Fitzpatrick has to offer. He really wants to use his knowledge of insurance and economics to make financial topics clearer and help people feel good about the choices they make with their money.
Victoria Copans is a professional writer, editor and translator. She previously worked as the managing editor for online events industry publication XLIVE. She joined personal finance to help share important and useful information that people might not have access to otherwise. She calls herself a “budgeting nerd.” She loves to travel, learn languages, and explore the beautiful grounds where she lives in Vermont in her spare time.
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeeks Head of Insurance. He has been studying the insurance market for more than five years, doing his own research and making content that is specific to each type of buyer. He has been quoted in several insurance-related publications, including [CNBC](https://www. cnbc. com/2020/04/15/cant-keep-up-with-insurance-premiums-heres-what-to-do. html), [NBC News](https://www. nbcnews. com/business/autos/flooded-cars-are-problem-their-owners-future-car-buyers-n1278493) and [Mashable](https://mashable. com/article/tesla-insurance-rates). A bachelor’s degree from Boston College and a master’s degree in economics and international relations from Johns Hopkins University are what Fitzpatrick has to offer. He really wants to use his knowledge of insurance and economics to make financial topics clearer and help people feel good about the choices they make with their money.
Victoria Copans is a professional writer, editor and translator. She previously worked as the managing editor for online events industry publication XLIVE. She joined personal finance to help share important and useful information that people might not have access to otherwise. She calls herself a “budgeting nerd.” She loves to travel, learn languages, and explore the beautiful grounds where she lives in Vermont in her spare time.
The cost of car insurance varies based on the drivers age. A full coverage policy for a 16-year-old driving a 2009 Chevy Silverado costs about $5,401 a year. For a 40-year-old driver, the cost is about $1,156 a year. A 16-year-old pays about $6,692 a year for a 2022 model, but a 40-year-old driver only pays $1,156 a year.
Why Should You Trust MoneyGeek? To find the average rates for a Chevy Silverado, we got thousands of quotes from Quadrant Information Services.
We changed our information on car insurance rates to show how much it costs now for a Chevy Silverado in 2023.
Insuring an older vehicle like a 1998 Chevy 1500 pickup can be confusing Rates vary widely based on your specific truck, driving history, location and other personal factors
In this comprehensive guide, we’ll look at what impacts insurance costs for a 1998 Chevrolet 1500. You’ll find tips to find the best rate along with average prices recommended coverage discounts and more.
Average Cost to Insure a 1998 Chevy 1500
On average, annual insurance for a 1998 Chevy 1500 ranges from:
- $800 – $2,200 for minimum liability coverage
- $1,600 – $3,800 for a full coverage policy
However, your exact rate depends on driving record, mileage, location and other specifics.
Here are average yearly rates by company for minimum and full coverage based on sample driver profiles:
| Company | Liability Only | Full Coverage |
|---|---|---|
| Geico | $820 | $1,780 |
| Allstate | $930 | $2,130 |
| State Farm | $980 | $2,250 |
| Progressive | $1,120 | $2,500 |
| USAA | $740 | $1,620 |
*Profile 40-year old driver in Houston TX with clean record
Younger drivers, accidents, and states like California and Florida will have higher rates. Full coverage adds key protections like collision and comprehensive.
What Impacts 1998 Chevy 1500 Insurance Costs
Many personal and vehicle factors determine your exact 1998 Chevy 1500 insurance rate, including:
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Driving Record – Tickets, accidents and violations raise rates substantially. Clean records get the lowest prices.
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Location – Urban areas and regions prone to extreme weather or theft have higher premiums.
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Your Age – Drivers under 25 pay the most due to inexperience. Mature drivers get better rates.
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Credit History – An excellent credit score can save you hundreds compared to poor credit.
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Coverage Level – Minimum liability is cheapest but leaves you vulnerable. Full coverage costs more but provides better protection.
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Deductible Amount – Choosing a higher deductible like $500 or $1,000 lowers your premium but increases out-of-pocket costs when you file a claim.
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Vehicle Use – Insuring for pleasure only is cheaper versus daily commuting.
Also consider safety features, discounts, annual mileage and other factors specific to your situation when getting rate quotes.
Tips to Get the Lowest 1998 Chevy 1500 Insurance Price
Here are some effective strategies to use when shopping for cheap 1998 Chevy 1500 insurance:
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Compare quotes from multiple insurers. Rates can vary a lot between companies.
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Maintain good credit for the biggest savings compared to poor credit.
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Ask about all discounts like multi-policy, safe driver, anti-theft device and more.
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Raise deductibles like $500 or $1,000 to reduce premiums at the expense of higher out-of-pocket costs when filing claims.
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Limit coverage on older vehicles to just liability if your truck is over 10 years old.
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Check rates at least once a year for potential cheaper pricing.
Saving a few hundred dollars a year on your old Chevy pickup makes a difference.
Recommended Minimum Coverage
At minimum, look for a 1998 Chevy 1500 policy that includes:
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Liability – Covers injury/damage to others. 100/300/100 split limit or $300,000 combined single limit is recommended.
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Uninsured Motorist – Protects you if hit by an uninsured driver. Match your liability limits.
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Collision – Repairs damage from collision with objects like trees or poles.
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Comprehensive – Covers non-collision damage from theft, vandalism, weather, etc.
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Personal Injury Protection – Pays immediate medical bills for you and passengers. Required in no-fault states.
You can also add optional coverage like rental reimbursement, roadside assistance and gap insurance.
Comparing Insurance Provider Options
As an older model, the 1998 Chevy 1500 can be insured through:
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Mainstream insurers like Geico, Allstate and State Farm offer competitive pricing.
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Classic car insurers like American Modern, Grundy and Hagerty specialize in collectibles and antiques but aren’t required for a 1998 model.
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Local independent agents provide policy options from multiple carriers to get you the best fit and rate.
Always compare quotes from providers in each channel to find the right blend of price, coverage and service.
Discounts to Lower Your Rate
Take advantage of any discounts offered by insurance companies to save money. Here are some common ones to ask about:
- Multi-policy discount
- Safe driver discount
- Defensive driving course discount
- Good student discount
- Loyalty discount
- Anti-theft device discount
- Low mileage discount
- Good payer discount
Every bit of savings helps reduce the cost of insuring your 1998 Chevy 1500 pickup.
How Rates Change Over Time
As your truck gets older, the value depreciates each year which gradually lowers the premium. However:
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Rates won’t necessarily drop a certain amount per year.
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Your individual risk profile determines cost more than vehicle age.
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Best to compare rates each renewal to ensure you have the lowest available price.
Don’t assume your rate will drop over time. Shop around regularly to take advantage of your aging vehicle’s depreciating value.
Final Tips to Save on 1998 Chevy 1500 Insurance
To recap, here are some final tips to lower insurance costs for your 1998 Chevrolet 1500:
- Compare quotes from insurers like Geico, Allstate and Direct Auto
- Ask about all available discounts
- Take a defensive driving course
- Raise deductibles to $500 or $1,000
- Consider dropping collision/comprehensive on older vehicles
- Check for cheaper rates at every renewal
Finding affordable 1998 Chevy 1500 insurance requires being persistent in comparing quotes. But the savings make it worthwhile. Use these tips to start finding a lower insurance rate for your old pickup.
Best Companies for Insuring a Chevy Silverado
When shopping for car insurance, it’s important to think about more than just the rates. You should also think about how good the customer service and claims process is. These companies offer the best car insurance for a Chevy Silverado:
- CashGeek gave State Farm a score of 90 out of 100, which equals $1,088 per year.
- This company got an 89 out of 100 from MoneyGeek and costs $1,137 a year.
State Farm received the best ratings for affordability and ranked second for customer satisfaction. Not only is it the cheapest company, but it also provides quality service to its clients.
Cost of Insuring a Chevy Silverado for 16- to 25-Year-Olds
Younger drivers, including teenagers and those in their 20s, generally face higher insurance premiums compared to older drivers. One example is that a 16-year-old pays $6,025 a year to insure a Chevy Silverado, while a 40-year-old pays only $1,306 a year for the same coverage. Car insurance for teens gets cheaper each year they drive, and it usually stays the same when they reach their 20s.
| 16 | Average Annual Premium$6,025 |
| 17 | Average Annual Premium$4,891 |
| 18 | Average Annual Premium$4,292 |
| 19 | Average Annual Premium$2,981 |
| 20 | Average Annual Premium$2,696 |
| 21 | Average Annual Premium$2,070 |
| 22 | Average Annual Premium$1,913 |
| 23 | Average Annual Premium$1,778 |
| 24 | Average Annual Premium$1,687 |
| 25 | Average Annual Premium$1,522 |
Putting teens on a family plan instead of getting their own plans, which cost more, can save them money on car insurance. It is also important to remember that most of the time, teens under 18 need a parent or guardian to co-sign for them in order to buy their own policy.
State Farm has the cheapest rates for a single policy for a 16-year-old driving a 2022 Chevy Silverado. The rate is $4,104 per year. Meanwhile, Farmers is the most expensive option at $9,309 per year. To get the cheapest car insurance for teens, you should look at plans from a number of different companies. This is true whether you choose a plan for yourself or your whole family.
| State Farm | Average Annual Premium$4,104 |
| Travelers | Average Annual Premium$5,752 |
| GEICO | Average Annual Premium$5,781 |
| Nationwide | Average Annual Premium$6,071 |
| Allstate | Average Annual Premium$7,386 |
| Progressive | Average Annual Premium$7,866 |
| Farmers | Average Annual Premium$9,309 |
Cost of ownership – 1999 Chevrolet C1500
FAQ
Are Chevy trucks expensive to insure?
How much is insurance for a 2024 Silverado 1500?
How much is insurance on a 2015 Chevy Silverado?
|
Year
|
16-19 yr old
|
40-49 yr old
|
|
2015
|
$333.01 / mo
|
$142.23 / mo
|
|
2014
|
$343.89 / mo
|
$131.89 / mo
|
|
2013
|
$346.95 / mo
|
$114.65 / mo
|
|
2012
|
$167.23 / mo
|
$135.31 / mo
|
What is the insurance cost for a Camaro?
How much is car insurance for a Chevrolet Silverado 1500?
Auto insurance for a Chevrolet Silverado 1500 will cost about $2,446 per year. This beats the national average for popular pickup models by $449. Our car insurance comparison study assumes a 40 year old good driver with full coverage and good credit that drives around 13,000 miles per year.
Should you insure a 1998 Chevrolet C/K 1500 series?
So if your credit is not that good, you could potentially save money when insuring your 1998 Chevrolet C/K 1500 Series by improving your rating. Drivers who have good credit tend to be better drivers and file fewer claims as compared to drivers with lower credit scores.
How much does a 1998 Chevrolet 1500 cost?
Used 1998 Chevrolet 1500 Regular Cab pricing starts at $4,117 for the 1500 Regular Cab Short Bed, which had a starting MSRP of $19,250 when new. The range-topping 1998 1500 Regular Cab Long Bed starts at $4,589 today, originally priced from $19,550. Original MSRP KBB Fair Purchase Price (nat’l average) Short Bed $19,250 $4,117 Long Bed $19,550
How reliable is a 1998 Chevrolet 1500 Regular Cab?
1998 Chevrolet 1500 Regular Cab Reliability The 1998 Chevrolet 1500 Regular Cab receives an average consumer rating of 4.5 overall and a 4.7 for reliability, which means owners consider its reliability to be above average. Favorite 1998 1500 Regular Cab Features