View 2018 GMC Sierra 1500 Insurance Cost

Overpriced car insurance can overdraw your budget and force you to prioritize other expenses. You have so many insurers to insure vehicles with, and though it is a good thing to have multiple companies, lots of choices makes it harder to compare rates and cut insurance costs.

Buying car insurance is easy if you know what you’re doing. If you have a current auto insurance policy or need a new policy, you can use these tips to find better prices and still get good coverage. Drivers only need an understanding of how to compare company rates over the internet.

Informed consumers save on insurance

Part of the car insurance buying process is learning some of the elements that come into play when calculating the level of your policy premiums. If you know what determines premiums, this helps enable you to make changes that can help you get lower car insurance prices.

The items below are just a few of the factors that factor into your prices.

• Costs are affected by your address – Living in smaller towns and rural areas of the country can save you money when insuring your vehicles. Fewer drivers means a lower chance of having an accident in addition to fewer liability claims. Urban drivers have to deal with traffic congestion and longer commutes to work. More time commuting translates into higher accident risk.
• Do you really need to file that claims? – Auto insurance companies give better rates to insureds who only file infrequent claims. If you tend to file frequent claims, you can look forward to higher premiums or even policy non-renewal. Your car insurance is meant to be used in the event of the bigger claims that can’t be paid out-of-pocket.
• Never allow your policy to lapse – Not maintaining insurance is illegal and you will pay a penalty because you let your insurance coverage expire. In addition to paying higher premiums, failure to provide proof of insurance might get you a fine, jail time, or a revoked license.
• Male costs may be higher – The statistics show that females take fewer risks when driving. Now that doesn’t mean males are worse at driving than females. Men and women are responsible for fender benders at a similar rate, but men get into accidents with more damage. In addition to higher claims, males also get ticketed for serious violations like driving under the influence (DUI). Young men ages 16 to 20 tend to get in the most accidents so it costs more to insure them.

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Lower-cost insurance coverage rates with discounts

Some companies don’t always advertise the complete list of policy discounts very clearly, so here is a list both the well known and also the lesser-known discounts that you can inquire about if you buy insurance coverage online.

• Telematics Discount – Insureds that choose to allow driving data collection to track their driving habits by using a small device installed in their vehicle such as In-Drive from State Farm or Allstate’s Drivewise system may see discounts if they exhibit good driving behavior.
• Paperwork-free – A handful of companies will give a small break for buying your policy on their website.
• College Student – Any of your kids who are enrolled in higher education away from home and do not have a car may be able to be covered for less.
• Save with a New Car – Insuring a vehicle that is new is cheaper because newer vehicles are generally safer.
• Multi-policy Discount – If you combine your auto and home policies and insure them with the same company they may give you a discount of nearly 15% which can help you find affordable insurance coverage.
• Good Student Discount – Maintaining excellent grades can save 20 to 25%. You can use this discount normally up until you turn 25.
• Defensive Driver – Successfully completing a course that instructs on driving safety may get you a small discount depending on where you live.

Discounts lower rates, but most discount credits are not given the the whole policy. Some only reduce the cost of specific coverages such as medical payments or collision. Even though it may seem like you could get a free insurance coverage policy, insurance companies wouldn’t stay in business.

Insurance companies that may offer policyholders these benefits may include but are not limited to:

• State Farm
• Farmers Insurance
• Progressive
• Geico
• Auto-Owners Insurance
• The Hartford
• Farm Bureau
• USAA

When getting a coverage quote, ask each company which discounts can lower your rates. Discounts might not apply in your area. To see a list of providers that offer the discounts shown above, click here.

Don’t listen to company ads

Consumers can’t ignore all the ads that claim the cheapest car insurance rates from the likes of State Farm, Geico and Progressive. All the companies advertise the message about savings after switching your auto insurance coverage to their company.

How does each company claim to save you money? It’s all in the numbers.

Many companies have specific criteria for the type of customer that will generate a profit. An example of a preferred risk could be a married male, has a low-risk occupation, and has excellent credit. Any new insured who matches that profile will get very good rates and as a result will probably save when they switch companies.

Potential customers who may not quite match those standards may receive more expensive rates which leads to the customer buying from someone else. The ad wording is “customers that switch” but not “all drivers who get quotes” save that much money. This is how companies can truthfully make the claims of big savings. Because each company has a different risk profile, drivers must get insurance coverage quotes from several different companies. It’s just too difficult to predict the company that will provide the lowest premium rates.

Tailor your insurance coverage to you

When choosing adequate coverage, there isn’t really a cookie cutter policy. Each situation is unique and your policy should reflect that. For instance, these questions might point out whether your personal situation would benefit from professional advice.

• What is high-risk coverage and where do I buy it?
• Can my teen driver be rated on a liability-only vehicle?
• Does liability extend to a camper or trailer?
• I have health insurance so do I need medical payments coverage?
• How can I force my company to pay a claim?
• How much underlying liability do I need for an umbrella policy?

If it’s difficult to answer those questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It only takes a few minutes and you can get the answers you need.

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Insurance coverages and their meanings

Understanding the coverages of your insurance policy can be of help when determining the best coverages and the correct deductibles and limits. Policy terminology can be confusing and nobody wants to actually read their policy. Shown next are the normal coverages available from insurance companies.

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists are uninsured or don’t have enough coverage. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Because many people only carry the minimum required liability limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea.

Comprehensive protection

Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.

Comprehensive can pay for things like hitting a deer, fire damage and a broken windshield. The maximum payout a insurance company will pay at claim time is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Medical expense coverage

Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses such as nursing services, surgery, chiropractic care, funeral costs and dental work. They are often used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants in addition to if you are hit as a while walking down the street. PIP coverage is only offered in select states but can be used in place of medical payments coverage

Collision insurance

This coverage pays for damage to your Sierra 1500 caused by collision with another car or object. A deductible applies and then insurance will cover the remainder.

Collision coverage protects against claims like sustaining damage from a pot hole, hitting a parking meter and damaging your car on a curb. Paying for collision coverage can be pricey, so you might think about dropping it from older vehicles. It’s also possible to bump up the deductible to get cheaper collision coverage.

Auto liability insurance

Liability coverage can cover injuries or damage you cause to people or other property that is your fault. It protects YOU against claims from other people, and does not provide coverage for your injuries or vehicle damage.

Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. You might see limits of 25/50/25 which means $25,000 bodily injury coverage, a limit of $50,000 in injury protection per accident, and property damage coverage for $25,000.

Liability can pay for claims like attorney fees, court costs and structural damage. The amount of liability coverage you purchase is up to you, but you should buy as much as you can afford.

Make an honest buck

When searching for the cheapest insurance coverage quotes, you should never buy less coverage just to save a little money. There are many occasions where an insured cut physical damage coverage to discover at claim time that their decision to reduce coverage ended up costing them more. The goal is to purchase plenty of coverage at the best price while not skimping on critical coverages.

We just covered a lot of tips how to lower your 2018 GMC Sierra 1500 insurance auto insurance rates. The most important thing to understand is the more times you quote, the better likelihood of getting affordable insurance coverage. Drivers may discover the biggest savings come from the least-expected company. Some small companies can often provide lower premium rates in certain areas compared to the large companies like Allstate, Geico and Progressive.

Other resources

• What are my Rights when Filing a Claim? (Insurance Information Insitute)
• Side Impact Crash Tests (iihs.org)
• What if I Can’t Find Coverage? (Insurance Information Insitute)
• Vehicle Size and Weight FAQ (iihs.org)
• Distracted Driving Statistics (Insurance Information Insitute)
• Senior Drivers (Insurance Information Insitute)

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