Insuring your Chevrolet Silverado

It is important to know which car to buy. But it is just as important to know where to buy your dream car from. For those who feel that the Chevrolet Silverado 1500 is a smart choice, knowing which state offers the best deal for this full-size pickup is crucial.

The latest 2014 Chevrolet Silverado 1500 was unveiled in Detroit, Michigan at the North American International Auto Show. It boasts of a touch enabled interface, Bose for the audio system and three engine choices. However, buyers have a lot more to consider than these technologically savvy features.

The insurance percentage (the percentage of the median price that is spent on average annual insurance) could favour, for instance, buyers of a used Chevrolet Silverado from the states of Vermont, Virginia and North Carolina, where the number is as low as 3%.

With a median price of $19998, Ohio stands to offer a good deal for the vehicle, with an average insurance rate of $964, bringing the insurance percentage to 4%.

The median price of this Chevy is, however, the least in the state of Kentucky. Here, a prospective buyer would have to shell out an average of $16,317 to buy and $1,319 to insure this car.

The car’s steepest median price is in Rhode Island at $33,969. But, with an average insurance rate of $1614, the insurance percentage of the car in this state boils down to 4%, which is less than the percentages in Pennsylvania, Oklahoma and Montana, which are set at 5%, 6% and 7%, respectively.

Priced at $21,988, the Silverado is cheaper to buy in Michigan than in Louisiana where it costs $23,925. But with the average insurance rate set at $2040 and $2191, respectively, Michigan and Louisiana’s residents will have to shell out an extra 9% for insurance to wheel it onto the road.