Toyota Tundra Insurance vs Chevy Silverado Insurance

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Things to Remember...
  • A number of factors could impact the insurance costs of your vehicle
  • The Toyota Tundra and Chevy Silverado are similar vehicles with different insurance costs
  • Safety features and anti-theft devices can help bring down the cost of your vehicle’s insurance

There are a few differences between the two trucks that could cause the difference in insurance premium costs.

The Toyota Tundra is a foreign truck, so parts are generally more expensive than they would be for a Chevy Silverado, which leads to a higher insurance cost.

However, the Silverado has a few more safety and security options that can keep insurance costs down, especially for comprehensive insurance.

If you need an auto insurance quote for your truck, type your ZIP code into the FREE text box now!

About the Toyota Tundra

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According to the Toyota website, the Tundra comes in three basic styles:

  • Regular Cab  features a standard 4.0-liter V6 engine with an automatic five-speed transmission, seating for three
  • Double Cab  features a standard 4.0-liter V6 engine with an automatic five-speed transmission, seating for six
  • CrewMax – comes standard with a 4.6-liter V8 engine and a transmission with six speeds, seating for six

All three trim packages come with heated outside mirrors, 18-inch steel wheels, high solar energy-absorbing (HSEA) glass, dual zone air-conditioning, and an AM/FM stereo with six speakers and MP3/WMA playback capability.

All three versions also have optional alloy wheels, deck rail system with adjustable tie-down cleats, and upgraded stereo systems.

The CrewMax version of the Tundra has an impressive array of options available for it such as a navigation system and an anti-theft system with engine immobilizer or a power moonroof.

There are also various upgrade packages available for that truck, including a towing package, convenience package and a platinum package, among others.

There are also two special editions of the Tundra available: the TRD Sport, which is based on the Double Cab Model and the TRD Rock Warrior, which is based on the Double Cab or the Crew Max models.

About the Chevy Silverado

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The Chevy Silverado is a full-size pickup truck that has a strong reputation for toughness and a loyal customer base.

The Chevy website shows that there are five basic varieties of the Silverado:

  • The 1500
  • The Hybrid
  • The 2500HD
  • The 3500HD
  • The 3500 Chassis

The 1500 comes with a 4.8L V8 engine, while the others come with a larger 6.0L V8. The 2500HD and the 3500’s are bigger vehicles, with seating for up to six people.

The standard version of these trucks comes with rear wheel drive, 17-inch wheels, air-conditioning, and an AM/FM stereo.

The larger trucks have these features and some custom body styling options, like a chrome mesh grille and 18 inch polished aluminum wheels. There is a variety of towing and hauling packages available for the Silverado.

Some of the other options on the Silverado include heated and cooled seats, bedliners, fog lamps, and a rear-view camera.

Owners also have the option to activate services like OnStar, Sirius Satellite Radio, and the Chevy Mobile Hotspot for Internet connectivity.

Vehicle Cost and Insurance Cost

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New vehicles that are more expensive usually cost more to insure. This is because an insurance company must always take into account how much it will have to pay to replace a vehicle if it is totaled.

There is also some correlation between a vehicle’s cost and its cost to repair, which will also affect insurance cost.

The cost difference between the Chevy Silverado and the Toyota Tundra is interesting because the Silverado is both cheaper and more expensive than the Tundra, depending on the model.

Trucks like the Toyota Tundra and Chevy Silverado cost more to insure than cars, sometimes as much as 10 or 20 percent more.

There are exceptions, of course, but this rule usually holds true because trucks are bigger and heavier, which makes them able to cause more damage in an accident.

Parts are usually more expensive for trucks, especially four-wheel drive trucks, so the insurance cost is higher because of the higher cost to repair the vehicle.

In the case of the Toyota Tundra, the parts will be even more expensive because it is a foreign truck and some parts may need to be shipped a long distance.

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Safety Features and Insurance Cost

Both the Toyota Tundra and the Chevy Silverado come with a good collection of safety features.

Some of the standard features on both trucks include ABS brakes, child seat anchors, stability control, traction control and front and side airbags, as listed on Edmunds.

The Silverado also comes with optional emergency service and airbag deployment notification through OnStar.

The significance of the safety features is that they reduce the likelihood of serious injuries in an accident, which in turn can get you a better insurance rate.

Insurance companies actually look at safety features as part of the total picture of safety, a picture that includes crash test ratings and other factors, as well.

The National Highway Traffic Safety Association rates the Tundra and the Silverado with five stars for side impact collision and four stars for frontal collisions in crash tests.

Theft and Auto Insurance Cost

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How likely a vehicle is to get stolen affects the cost of comprehensive insurance for that vehicle.

The likelihood of being stolen is calculated based on statistical crime data for that particular vehicle, but other factors do play into it.

The location of the vehicle and the safety features it has are among the other factors that affect its likelihood of being stolen.

The Silverado comes standard with an anti-theft device and has optional stolen vehicle tracking while the Tundra has an optional anti-theft device.

In terms of frequency of being stolen, Forbes reports that the 1999 Chevy Silverado was the seventh most stolen car in America in 2011, according to the National Insurance Crime Bureau.

The Toyota Tundra did not make the top ten list. The most recent vehicle on the list was a 2006 Ford F-150, which would seem to indicate that recent advances in anti-theft devices are helping to deter theft.

Insurance You Need For a Truck

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If you own a truck like a Toyota Tundra or a Chevy Silverado your insurance requirements will be the same as they would be for a car.

The basic types of insurance coverage most people consider are:

  • Liability – which covers costs for other drivers if you cause an accident
  • Collision – which covers damage to your own vehicle in an accident
  • Comprehensive – which covers damage to your vehicle from other circumstances like fire, vandalism, or theft

Other popular types of insurance include uninsured motorist, underinsured motorist, and personal injury protection (PIP) insurance.

For starters, most states require some level of car insurance coverage, but the requirements can vary greatly from state to state.

While liability and personal injury protection (PIP) insurance may be required by a state, those may not be your only insurance requirements.

If you financed your vehicle, the lender will often dictate the type and level of insurance you need to carry.

Most lenders insist that you carry comprehensive and collision insurance so that they know the cost of damages to the vehicle will be covered in any situation, and they will not find themselves trying to collect money from you for a totaled and useless vehicle.

Beyond the requirements of your state or lender, you might still want to carry a little extra coverage.

Often the state minimums for liability are relatively low in terms of dollar amount of coverage, so you should carry more, especially if you have a lot of assets to protect.

If your vehicle is valuable and would cost a lot to repair or replace, it would make sense to carry comprehensive or collision insurance.

Uninsured or underinsured motorist insurance is often a good idea, too, especially if your state tends to have many uninsured drivers.

If you are ready to see what kind of auto insurance rate you can get on your Toyota Tundra or Chevy Silverado, type your ZIP code into the FREE search tool now!

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