Chevrolet Car and Truck Insurance

Auto Insurance Rates for Chevy Cobalt, Impala and Silverado Compared

Dec 4, 2009
Daniel Workman

: Chevrolet Impala Auto Insurance - Karrmann (Wikimedia Commons)

Average auto insurance premiums for Chevrolet Cobalt and Impala are lower than rates for the more expensive workhorse truck Silverado.

This analysis compares the average minimum and maximum auto insurance rates that Insurance.com quoted for the Chevrolet Cobalt LS, Cobalt LT, Impala LT and the half-ton pickup Silverado C1500.

Insurance premium data is based on over 250,000 single-driver quotes for 2008 and the first 2 quarters of 2009. Insurance.com provided those statistics to the author as part of a consumer education project.

Quotes used in this study were limited to vehicles made in 2006, 2007, 2008 and 2009.

The first step in this comparison is to benchmark purchase prices for each vehicle's 2010 model.

Prices to Buy Selected Chevrolet Vehicles

Presented below are average market prices for 2010 models, according to AOL Autos. The high and low prices are shown within brackets for each vehicle.

Cobalt LS … US$19,263 market price ($14,490 low to $24,035 high)
Cobalt LT … $19,663 ($15,290 to 24,035)
Impala LT … $25,760($22,890 to $28,630)
Silverado C1500 … $30,313($19,850 to $40,775).

Prices for car and truck models can vary widely because of such factors as vehicle features and demand in the local market where an automobile is sold.

For example, the Cobalt is available as either a 2-door coupe or a 4-door sedan. The Cobalt LT trim has features that the LS models lack. These include rear carpeted floor mats, power mirrors, power windows and door locks with remote keyless entry.

A full-size sedan that can carry up to 6 people, the Impala LT is larger and more powerful than the Cobalt.

The Silverado C1500 is a half-ton truck available in a wide range of styles and sizes. The price spread for this dependable and rugged work truck goes from $19,850 for a base model to $40,775 for a full-featured, high-end version.

Comparing Chevrolet Auto Insurance Rates

The following list shows the average annual insurance rates quoted by Insurance.com as of the second quarter 2009.

Silverado C1500 … US$2,487 average annual premium (down 2.7% from 2008)
Impala LT … $2,746(up 4.8%)
Cobalt LT … $2,816 (down 3.5%)
Cobalt LS … $2,918 (down 1.2%).

On average, the Silverado pickup truck costs more to buy than the Chevrolet cars in this study. Yet the average yearly premium for the Silverado C1500 is 14.5% lower than annual insurance rate for the much smaller Cobalt LS car.

In fact, the smallest and least expensive car in this comparison has rates:

5.9% higher than the full-sized passenger Impala LT car
3.3% higher than its Cobalt LT sister which has more expensive features.

More expensive rates for the Cobalt LS could be due to a higher concentration of quotes for requestors in states that charge higher insurance rates in general. For example, Insurance.com services quote requests from 47 U.S. states plus the District of Columbia.

Chevrolet Vehicles Offering Greatest Insurance Savings

More severe is the percentage difference between the lowest and highest average quotes for each vehicle during 2009’s first 2 quarters.

Impala LT … US$2,145 to $3,444 average annual premium (60.5% difference)
Silverado C1500 … $1,936 to $3,093 (59.7%)
Cobalt LS … $2,278 to $3,511 (54.1%)
Cobalt LT … $2,248 to $3,453 (53.6%).

Impala LT owners received quotes that varied by up to $1,298 per year. Other premium rate differences were:

$1,233 for Cobalt LT drivers
$1,205 for Cobalt LS drivers
$1,156 for Silverado C1500 drivers.

So while more expensive vehicles do not necessarily result in higher auto insurance premiums, competitive rate quotes can potentially save consumers over a thousand dollars annually. This is true for all cars and the truck in this brief study.

Consumers are encouraged to carefully compare the latest quotes from a number of reputable automobile insurers before selecting the most comprehensive coverage at the lowest possible costs.

Sources for this Article

This article presents copyrighted data provided to the author by Insurance.com, a leading provider of online comparative insurance quotes. Insurance.com is dedicated to educating consumers, with a website that showcases the latest business intelligence technology.