Searching for better insurance rates for your GMC Sierra 2500? Being forced to pay for overpriced insurance premiums can stress out your personal savings and possibly require you to analyze your spending habits.
You have multiple insurers to insure vehicles with, and even though it’s nice to be able to choose, having more insurers makes it harder to get the best deal.
Performing a rate comparison can be a daunting task if you don’t utilize the best way to get rate quotes. You can waste a few hours (or days) talking about coverages with insurance companies in your area, or you can utilize the web to maximize your effort.
Many insurance companies enroll in a system that allows shoppers to enter their policy data once, and at least one company provides a quote based on the submitted data. This system prevents you from having to do repetitive form submissions to each company.
To compare pricing click to open in new window.
The only drawback to doing it this way is that you can’t choose the companies you want pricing from. So if you want to choose specific insurance companies for rate comparison, we have a page of low cost car insurance companies in your area. Click here for list of insurance companies.
It’s up to you which method you use, but ensure you’re using equivalent coverage data for each quote you get. If you are comparing different liability limits you will not be able to make a fair rate comparison. Quoting even small variations in limits could mean much higher rates. And when price shopping your coverage, making a lot of price comparisons helps increase your odds of locating the best rates. Some companies don’t provide online rate quotes, so it’s important to compare prices from the smaller companies as well.
Insurance can be pricey, but you might already qualify for some discounts that you may not even know about. Certain reductions will be credited at the time you complete a quote, but lesser-known reductions have to be asked about before being credited.
One last thing about discounts, some of the credits will not apply to your bottom line cost. Most only cut the price of certain insurance coverages like medical payments or collision. So even though it sounds like you would end up receiving a 100% discount, it’s just not the way it works.
If you would like to choose from a list of insurance companies that offer multiple discounts, click this link.
When choosing coverage, there isn’t really a “best” method to buy coverage. Everyone’s situation is a little different so your insurance needs to address that. For instance, these questions can help discover if your situation might need an agent’s assistance.
If you’re not sure about those questions but one or more may apply to you, you might consider talking to an insurance agent. If you don’t have a local agent, simply complete this short form or go to this page to view a list of companies.
Many different elements are considered when quoting car insurance. Some factors are common sense like a motor vehicle report, although others are more obscure such as whether you are married and annual miles driven.
Understanding the coverages of your policy aids in choosing the right coverages and the correct deductibles and limits. Auto insurance terms can be impossible to understand and nobody wants to actually read their policy. Listed below are typical coverage types offered by auto insurance companies.
Liability coverage provides protection from injuries or damage you cause to other people or property that is your fault. It protects you from claims by other people, and does not provide coverage for damage sustained by your vehicle in an accident.
Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see limits of 100/300/100 that means you have $100,000 bodily injury coverage, a per accident bodily injury limit of $300,000, and $100,000 of coverage for damaged propery. Alternatively, you may have a combined limit which combines the three limits into one amount without having the split limit caps.
Liability coverage protects against things like pain and suffering, medical services and attorney fees. How much liability coverage do you need? That is a decision to put some thought into, but it’s cheap coverage so purchase higher limits if possible.
Comprehensive auto coverage
Comprehensive insurance coverage covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things such as damage from flooding, theft, rock chips in glass and damage from a tornado or hurricane. The maximum payout a auto insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle’s value is low consider removing comprehensive coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
This protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. It can pay for hospital bills for your injuries and damage to your GMC Sierra 2500.
Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Usually your uninsured/underinsured motorist coverages are set the same as your liablity limits.
Collision coverage pays for damage to your Sierra 2500 caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible then your collision coverage will kick in.
Collision insurance covers claims like hitting a parking meter, hitting a mailbox and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. Another option is to bump up the deductible to get cheaper collision coverage.
Medical payments and PIP coverage
Medical payments and Personal Injury Protection insurance pay for bills like chiropractic care, doctor visits and hospital visits. They are often used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. It covers both the driver and occupants and also covers getting struck while a pedestrian. PIP coverage is not an option in every state but it provides additional coverages not offered by medical payments coverage
We just covered many tips how you can lower your 2004 GMC Sierra 2500 insurance rates. The key thing to remember is the more times you quote, the better your chances of lowering your auto insurance rates. Consumers could even find that the lowest rates are with some of the lesser-known companies. Some small companies often have lower auto insurance rates on specific markets than the large multi-state companies such as Allstate, GEICO and Progressive.
When buying insurance coverage, never buy lower coverage limits just to save a few bucks. There are a lot of situations where consumers will sacrifice collision coverage and discovered at claim time that the savings was not a smart move. Your goal should be to buy the best coverage you can find for the lowest cost, but don’t skip important coverages to save money.