Save on 2007 GMC Sierra 1500 Insurance Rates

Are you tired of sacrificing other expenses to pay high car insurance rates every month? You’re in the same situation as most other people.

There is such a variety of insurance companies to purchase coverage from, and though it is a good thing to be able to choose, more options can take longer to find a good deal.

Consumers need to do rate comparisons before your next renewal because car insurance prices fluctuate regularly. If you had the best price for Sierra insurance a couple years back other companies may now be cheaper. Block out anything you think you know about car insurance because you’re about to find out the best way to buy cheaper car insurance.

The purpose of this article is to familiarize you with the best way to quote coverages and some money-saving tips. If you currently have car insurance, you should be able to reduce your rates substantially using these methods. Nevertheless, car owners do need to learn the way insurance companies sell online and take advantage of how the system works.

How insurers determine GMC Sierra 1500 insurance costs

Many factors are used when quoting car insurance. Some of the criteria are obvious such as traffic violations, but other criteria are not quite as obvious such as your marital status and annual miles driven.

  • More annual miles equals more premium – The higher the mileage driven in a year the more you’ll pay to insure your vehicle. The majority of insurers calculate rates based on how the vehicle is used. Cars and trucks that do not get driven very much receive better premium rates compared to those used for work or business. It’s always a good idea to double check that your auto insurance policy is rated on how each vehicle is driven, because improper ratings can cost you money. An improperly rated Sierra 1500 may be costing you higher rates.
  • Teenage drivers pay more – Teen drivers are known to be less responsible when behind the wheel so they pay higher auto insurance rates. Parents adding a youthful driver onto a policy will cause a huge premium hike. More experienced drivers tend to be more responsible, cost insurance companies less in claims .
  • Don’t let your policy lapse – Driving without insurance coverage in place is a misdemeanor and you may have a hard time finding new coverage because you let your insurance lapse for non-payment. In addition to paying higher premiums, not being able to provide proof of insurance could earn you a license revocation or jail time.
  • Your address can impact price – Being located in less populated areas can be a good thing when it comes to auto insurance. Fewer drivers and short commutes means fewer accidents and lower theft and vandalism rates. People in densly populated areas tend to have more aggressive driving styles and more severe claims. More time behind the wheel translates into higher accident risk.
  • Battle of the sexes – Statistics have proven women are more cautious behind the wheel. However, this does not mean men are worse drivers. Both genders tend to get into at-fault accidents at about the same rate, but males have accidents that have higher claims. Men also receive more major tickets like DWI (DUI) or reckless driving.
  • Responsible credit equals lower premiums – Having a good credit score is likely to be a major factor in calculating your auto insurance rates. Insureds with excellent credit tend to file fewer claims than drivers who have lower ratings. If your credit score could use some work, you may save money insuring your 2007 GMC Sierra 1500 by taking the time to improve your credit score.
  • Your stress level may be raising your premiums – Occupations such as real estate brokers, executives and dentists tend to have higher premiums than the average policyholder because of intense work situations and long work hours. Conversely, occupations like actors, historians and the unemployed have the lowest average rates for Sierra insurance.

More discounts mean cheap premiums

Insurance coverage can be pricey, but you may qualify for discounts that could drop your premiums quite a bit. Most are applied at quote time, but some may not be applied and must be manually applied prior to getting the savings.

  • Smart Student Discounts – Performing well in school could provide a savings of up to 20% or more. Earning this discount can benefit you well after school through age 25.
  • Homeowners Discount – Owning a house can save a few bucks because of the fact that having a home means you have a higher level of financial diligence.
  • Telematics Devices – People who choose to allow data collection to analyze vehicle usage by installing a telematics device like Drivewise from Allstate or In-Drive from State Farm may get a rate reduction as long as the data is positive.
  • ABS Brakes – Cars and trucks equipped with ABS or steering control can avoid accidents so companies give up to a 10% discount.
  • Discount for Multiple Policies – If you can bundle your auto and home insurance with the same insurance company you will save up to 20% and get you affordable auto insurance.

A little note about advertised discounts, most discount credits are not given the the whole policy. Most only reduce the cost of specific coverages such as comp or med pay. Even though the math looks like all the discounts add up to a free policy, you’re out of luck.

Popular insurance coverage companies and some of the premium reductions they offer are detailed below.

  • State Farm offers discounts including passive restraint, anti-theft, defensive driving training, accident-free, good driver, and driver’s education.
  • Esurance may have discounts that include multi-policy, renters, Switch & Save, good student, and good driver.
  • Progressive policyholders can earn discounts including continuous coverage, online signing, homeowner, multi-policy, and multi-vehicle.
  • Liberty Mutual offers discounts for newly retired, safety features, multi-car, good student, new move discount, and new vehicle discount.
  • Auto-Owners Insurance includes discounts for mature driver, good student, anti-lock brakes, company car, air bags, and group or association.
  • Geico offers premium reductions for military active duty, multi-vehicle, good student, daytime running lights, anti-theft, and multi-policy.

When comparing rates, check with all companies you are considering how many discounts you can get. Some discounts listed above may not be available in your area.

It’s not one size fits all

When it comes to buying proper insurance coverage for your vehicles, there is no “best” method to buy coverage. Everyone’s needs are different so this has to be addressed. These are some specific questions might point out if your insurance needs might need professional guidance.

  • What companies insure drivers after a DUI or DWI?
  • What if I owe more than I can insure my car for?
  • Am I covered when pulling a rental trailer?
  • Why am I required to buy high-risk coverage?
  • When does my teenage driver need to be added to my policy?
  • Do I need an umbrella policy?
  • Should I bundle my homeowners policy with my auto?

If you don’t know the answers to these questions but a few of them apply, you may need to chat with an insurance agent. If you don’t have a local agent, fill out this quick form or go to this page to view a list of companies.

Car insurance 101

Having a good grasp of a car insurance policy helps when choosing which coverages you need and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording. Shown next are the usual coverages offered by car insurance companies.

Medical payments coverage and PIP

Personal Injury Protection (PIP) and medical payments coverage pay for short-term medical expenses for things like chiropractic care, dental work, nursing services and hospital visits. They can be used to fill the gap from your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover you and your occupants in addition to getting struck while a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

Collision coverage

This coverage pays for damage to your Sierra 1500 from colliding with another vehicle or an object, but not an animal. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage protects against things such as crashing into a building, colliding with a tree and driving through your garage door. Collision is rather expensive coverage, so consider dropping it from vehicles that are older. Another option is to choose a higher deductible to bring the cost down.

Auto liability insurance

This coverage provides protection from damage that occurs to people or other property in an accident. This coverage protects you against claims from other people, and doesn’t cover damage to your own property or vehicle.

Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show limits of 50/100/50 that means you have a $50,000 limit per person for injuries, a limit of $100,000 in injury protection per accident, and a total limit of $50,000 for damage to vehicles and property. Some companies may use a combined single limit or CSL that pays claims from the same limit rather than limiting it on a per person basis.

Liability can pay for claims such as loss of income, legal defense fees, funeral expenses and attorney fees. How much liability should you purchase? That is up to you, but buy as large an amount as possible.

Comprehensive coverage

Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against claims like hitting a deer, vandalism and damage from flooding. The maximum payout you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.

Uninsured/Underinsured Motorist coverage

Uninsured or Underinsured Motorist coverage gives you protection when the “other guys” do not carry enough liability coverage. It can pay for injuries to you and your family and also any damage incurred to your GMC Sierra 1500.

Since many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time the UM/UIM limits do not exceed the liability coverage limits.

The best insurance company isn’t always the cheapest

When trying to cut insurance costs, make sure you don’t reduce coverage to reduce premium. There are a lot of situations where someone dropped liability limits or collision coverage and found out when filing a claim that the few dollars in savings costed them thousands. The proper strategy is to buy a smart amount of coverage at the best possible price, but do not skimp to save money.

We’ve covered some good ideas how to shop for 2007 GMC Sierra 1500 insurance online. The key thing to remember is the more providers you compare, the better your comparison will be. Consumers may even find the most savings is with a lesser-known regional company. Some small companies may have significantly lower premium rates on certain market segments as compared to the big name companies such as State Farm and Allstate.

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