2005 Pontiac GTO Insurance Cost

Looking for better insurance coverage rates for your Pontiac GTO? Expensive Pontiac GTO insurance can deplete your monthly budget and force you to tighten up your finances. Comparing price quotes can lower your rates and help to make ends meet.

Companies like State Farm, Progressive and Geico constantly bombard you with ads and it is challenging if not impossible to sift through the bull and take the time to shop coverage around.

It’s a good idea to do price comparisons every six months since prices change frequently. Just because you found the best price for GTO insurance last year you will most likely find a better rate today. Don’t believe everything you read about insurance coverage out there, but you can learn some solid techniques on how to save money.

Seven things that impact your insurance prices

Many things are part of the calculation when pricing auto insurance. Some factors are common sense like a motor vehicle report, but others are more obscure such as whether you are married or your financial responsibility.

  • Poor credit can mean higher costs – A driver’s credit score is a large factor in your rate calculation. So if your credit is low, you could pay less to insure your 2005 Pontiac GTO by improving your rating. Drivers who have excellent credit scores tend to file fewer claims than drivers who have lower ratings.
  • Low coverage deductibles mean high rates – The deductibles you choose state the amount of money you are required to spend if a claim is determined to be covered. Protection for physical damage, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Examples of some claims that would be covered would be collision with another vehicle, fire damage, and damage from wind. The more money you have to pay, the lower your rates will be for GTO insurance.
  • Vehicle theft costs us all – Purchasing a vehicle with anti-theft technology or alarm system can save you some money. Anti-theft features such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all hinder vehicle theft.
  • Responsible drivers have lower premiums – Good drivers have lower premiums as compared to those with violations. Getting just one speeding ticket or other violation may cause rates to rise by as much as twenty percent. Drivers who have gotten dangerous tickets such as DWI, reckless driving or hit and run convictions might be required by their state to prove financial responsibility with their state motor vehicle department in order to legally drive a vehicle.
  • High insurance claims frequency drives up prices – Car insurance companies generally give the lowest premiums to policyholders who do not file claims often. If you file a lot of claims you can look forward to either policy cancellation or increased premiums. Insurance coverage is intended to be relied upon for major claims that would cause financial hardship.
  • Females pay lower premiums – The statistics show that females take fewer risks when driving. However, don’t assume that men are WORSE drivers than women. Males and females get in accidents in similar numbers, but guys cause more damage and cost insurance companies more money. Not only that, but men also get more serious tickets such as reckless driving. Male drivers age 16 to 19 are several times more likely to be in an accident and therefore have the most expensive insurance rates.
  • With age comes responsibility – More experienced drivers have been proven to be more responsible, cause fewer claims and accidents , and usually have better credit.Beginning drivers have been known to be more careless when behind the wheel so they pay higher insurance rates.

The easiest way to compare insurance rates from multiple companies is to know almost all companies provide online access to provide you with a free rate quote. All consumers are required to do is provide details like if a SR-22 is needed, deductibles desired, whether you are married, and distance driven. That information is then sent to multiple companies and you will receive price estimates with very little delay.

Save $466 a year. For real?

Companies like Progressive, Geico, Allstate and State Farm consistently run television, radio, and online ads. All the ads convey the message about how much you will save if you switch to them. Is it even possible that every company can give you a lower rate? It’s all in the numbers.

Companies look for specific characteristics for the type of driver that will not have excessive claims. One example of a profitable risk profile might be a mature driver, owns a home, and insures a new vehicle. Any driver that matches those criteria will get a cheap rate quote and will save a lot of money.

Insureds who are not a match for this ideal profile will see higher premiums which leads to the prospect going elsewhere. The ads say “customers who switch” not “everyone who quotes” save that much. That’s the way companies can make the claims of big savings.

This really drives home the point why you should do a quote comparison often. It is impossible to guess which car insurance company will give you lower auto insurance rates than your current company.

Cut your car insurance rates with discounts

Some insurance providers don’t always list every possible discount in a way that’s easy to find, so the list below contains some of the best known and the more hidden discounts that you can inquire about if you buy insurance coverage online. If you do not check that you are getting every discount you deserve, you are not getting the best rate possible.

  • Life Insurance Discount – Companies who offer life insurance give a break if you buy a life insurance policy as well.
  • Telematics Data Discounts – Insureds who allow their company to study where and when they drive by using a small device installed in their vehicle such as Progressive’s Snapshot and State Farm’s In-Drive might get better premium rates if they have good driving habits.
  • Passive Restraint Discount – Vehicles equipped with air bags or motorized seat belts may earn rate discounts of 25 to 30%.
  • Drive Safe and Save – Accident-free drivers can save up to 40% or more on their insurance coverage quote for GTO insurance than drivers with accident claims.
  • Federal Government Employee – Having worked for a branch of the government could qualify for a slight premium decrease for GTO insurance with select insurance companies.
  • Homeowners Discount – Being a homeowner may earn you a small savings due to the fact that maintaining a home is proof of financial responsibility.
  • Memberships – Having an affiliation with a qualifying organization could earn you a nice discount when getting a insurance coverage quote.
  • Discounts for Seat Belt Usage – Drivers who always wear seat belts and also require passengers to buckle their seat belts could cut 10% or more on medical payment and PIP coverage.
  • Driver Safety – Completing a safe driver course could save 5% or more and also improve your driving technique.

A quick disclaimer, some credits don’t apply to the entire cost. The majority will only reduce individual premiums such as comp or med pay. So despite the fact that it appears you can get free auto insurance, company stockholders wouldn’t be very happy. But any discount should help lower the amount you have to pay.

To see a list of insurers who offer free car insurance quotes, follow this link.

You are unique and your insurance coverage should be too

When it comes to choosing proper insurance coverage, there really is not a “perfect” insurance plan. Everyone’s needs are different so your insurance needs to address that. Here are some questions about coverages that can aid in determining whether you would benefit from professional advice.

  • How high should my medical payments coverage be?
  • How high should my uninsured/underinsured coverage be in my state?
  • Can I drive in Mexico and have coverage?
  • What if I don’t agree with a claim settlement offer?
  • Do I get a pro-rated refund if I cancel my policy early?
  • Can I get a multi-policy discount?
  • Is a fancy paint job covered?

If it’s difficult to answer those questions, you might consider talking to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of insurance coverage companies in your area.

Car insurance policy coverages for a 2005 Pontiac GTO

Learning about specific coverages of a car insurance policy helps when choosing which coverages you need and the correct deductibles and limits. The terms used in a policy can be ambiguous and coverage can change by endorsement. Listed below are typical coverages found on the average car insurance policy.

Liability car insurance

Liability insurance can cover injuries or damage you cause to other’s property or people in an accident. This coverage protects you from legal claims by others. It does not cover your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. As an example, you may have values of 50/100/50 which means $50,000 bodily injury coverage, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property. Occasionally you may see a combined single limit or CSL which combines the three limits into one amount with no separate limits for injury or property damage.

Liability coverage pays for claims like structural damage, repair bills for other people’s vehicles, court costs, loss of income and legal defense fees. How much coverage you buy is a decision to put some thought into, but you should buy as large an amount as possible.

Collision coverage protection

This coverage will pay to fix damage to your GTO resulting from colliding with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims like crashing into a ditch, colliding with a tree and scraping a guard rail. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. It’s also possible to raise the deductible to save money on collision insurance.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses for rehabilitation expenses, doctor visits and ambulance fees. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover both the driver and occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage

Uninsured or underinsured coverage

Your UM/UIM coverage protects you and your vehicle from other drivers when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as your vehicle’s damage.

Due to the fact that many drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important. Normally these coverages do not exceed the liability coverage limits.

Comprehensive protection

Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive can pay for claims like damage from getting keyed, damage from a tornado or hurricane, a tree branch falling on your vehicle and theft. The highest amount your car insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much consider dropping full coverage.

Be a penny pincher

There are still a few companies who may not offer internet price quotes and these regional carriers only sell through independent insurance agents. Low-cost 2005 Pontiac GTO insurance is available from both online companies and from local agencies, so you should compare both in order to have the best price selection to choose from.

While you’re price shopping online, make sure you don’t skimp on critical coverages to save a buck or two. In many cases, consumers will sacrifice collision coverage only to discover later that saving that couple of dollars actually costed them tens of thousands. The aim is to purchase plenty of coverage at a price you can afford, not the least amount of coverage.

More detailed insurance coverage information can be read by following these links: