Cheap Insurance for a GMC Canyon in Minneapolis

It’s well known that car insurance companies want to prevent you from shopping around. Insureds who shop around for cheaper prices are highly likely to move their business because there is a high probability of finding good coverage at a lower price. A recent insurance study discovered that consumers who made a habit of comparing rate quotes saved over $865 a year compared to other drivers who didn’t regularly shop around.

If saving the most money on auto insurance is your ultimate target, then having a good understanding how to get free comparison quotes and analyze auto insurance can help you be more efficient.

It takes a little time, but the best way to get budget auto insurance rates is to start doing a yearly price comparison from insurers who sell auto insurance in Minneapolis. Price quotes can be compared by following these steps.

1. Spend some time learning about the coverage provided by your policy and the things you can control to drop your rates. Many things that drive up the price like speeding and an imperfect credit score can be remedied by paying attention to minor details. Keep reading for more information to help prevent expensive coverage and get bigger discounts.
2. Quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from one company like GEICO or Farmers Insurance, while independent agents can provide price quotes for a wide range of insurance providers.
3. Compare the price quotes to your current policy premium to determine if you can save on Canyon insurance. If you find a lower rate and buy the policy, make sure there is no lapse between the expiration of your current policy and the new one.

An important bit of advice to remember is that you’ll want to compare the same coverage limits and deductibles on each quote request and and to get prices from as many companies as you can. This ensures an accurate price comparison and maximum price selection.

Buying the cheapest auto insurance in Minneapolis seems hard but is not really that difficult. Essentially anyone who buys auto insurance will probably be able to find better rates. But Minnesota vehicle owners need to have an understanding of the methods companies use to market on the web and use it to find better rates.

GMC Canyon insurance rate analysis

The coverage table displayed next covers detailed analysis of policy rates for GMC Canyon models. Understanding how insurance policy rates are formulated can be useful when making decisions on which insurance to purchase.

Prices above based on married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, safe-driver, and multi-vehicle. Price estimates do not factor in vehicle garaging location which can impact insurance rates greatly.

Physical damage deductibles

When buying auto insurance, a common question is how high should the deductibles for physical damage be. The following tables illustrate the cost difference when you select higher and lower insurance deductibles. The first rate comparisons uses a $100 deductible and the second rate table uses a $1,000 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, multi-policy, claim-free, safe-driver, and homeowner. Table data does not factor in specific zip code location which can alter coverage rates greatly.

Based on these figures, using a $100 deductible will cost you roughly $31 more each month or $372 a year than selecting the higher $1,000 deductible. Because you would be required to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you go more than 29 months between claim filings, you would most likely save money going with the higher deductible.

Rate comparison of men versus women

The information below compares GMC Canyon insurance rates for male and female drivers. The costs are based on no accidents or driving violations, full physical damage coverage, $250 deductibles, marital status is single, and no policy discounts are applied.

Cheaper rates by getting these ten discounts

Car insurance companies do not list every available discount very clearly, so the next list breaks down a few of the more common and the more hidden discounts that may be available.

• Life Insurance Discount – Insurance companies who offer life insurance give better rates if you take out some life insurance in addition to your auto policy.
• Seat Belts Save more than Lives – Drivers who always wear seat belts and also require passengers to buckle their seat belts could save 15% off PIP or medical payments premium.
• Discount for Home Ownership – Being a homeowner can get you a discount since owning and maintaining a home means you have a higher level of financial diligence.
• Distant Student – Kids who are enrolled in a college that is more than 100 miles from Minneapolis without a vehicle on campus can be insured at a reduced rate.
• Driver Education Discount – Make teen driver coverage more affordable by requiring them to enroll and complete driver’s education in high school.
• Senior Citizens – Drivers that qualify as senior citizens could receive reduced rates.
• Air Bags and Passive Restraints – Cars that have air bags or motorized seat belts may qualify for discounts up to 30%.
• Pay Upfront and Save – By paying your policy upfront instead of paying each month you may reduce your total bill.
• Telematics Data Discounts – Policyholders that allow their insurance company to scrutinize driving habits by using a small device installed in their vehicle like Drivewise from Allstate or In-Drive from State Farm may see discounts if they exhibit good driving behavior.
• Lower Rates for Military – Being deployed in the military may lower your prices slightly.

Discounts save money, but please remember that most discounts do not apply to the whole policy. Most cut specific coverage prices like collision or personal injury protection. Despite the fact that it seems like it’s possible to get free car insurance, companies wouldn’t make money that way.

The chart below illustrates the comparison of GMC Canyon car insurance rates with and without discounts applied to the policy premium. The information is based on a male driver, a clean driving record, no claims, Minnesota state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, homeowner, multi-car, claim-free, and multi-policy discounts applied.

Large insurance companies and a selection of discounts are outlined below.

• GEICO may have discounts that include anti-theft, air bags, military active duty, multi-policy, and federal employee.
• SAFECO has discounts for teen safety rewards, anti-theft, drive less, bundle discounts, homeowner, and teen safe driver.
• State Farm offers discounts for anti-theft, passive restraint, student away at school, driver’s education, and multiple policy.
• MetLife has savings for good driver, multi-policy, accident-free, defensive driver, claim-free, good student
• 21st Century includes discounts for driver training, air bags, homeowners, theft prevention, 55 and older, anti-lock brakes, and automatic seat belts.
• Progressive may offer discounts for good student, homeowner, multi-vehicle, online signing, and multi-policy.

Before purchasing a policy, check with each company or agent how many discounts you can get. Some discounts listed above might not be available to policyholders in Minneapolis. If you would like to see a list of insurance companies who offer online GMC Canyon insurance quotes in Minneapolis, click this link.

Auto insurance coverages

Learning about specific coverages of your policy can help you determine the right coverages for your vehicles. Auto insurance terms can be confusing and even agents have difficulty translating policy wording. These are typical coverage types available from auto insurance companies.

Medical costs insurance – Personal Injury Protection (PIP) and medical payments coverage provide coverage for short-term medical expenses such as pain medications, hospital visits and doctor visits. They are often used to fill the gap from your health insurance program or if you are not covered by health insurance. Medical payments and PIP cover not only the driver but also the vehicle occupants in addition to if you are hit as a while walking down the street. Personal Injury Protection is not available in all states and gives slightly broader coverage than med pay

UM/UIM Coverage – Your UM/UIM coverage provides protection from other drivers when they do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as your vehicle’s damage.

Since a lot of drivers carry very low liability coverage limits (Minnesota limits are 30/60/10), their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea.

Auto liability insurance – This provides protection from damage that occurs to other people or property in an accident. It consists of three limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. Your policy might show values of 30/60/10 that means you have $30,000 bodily injury coverage, a total of $60,000 of bodily injury coverage per accident, and a total limit of $10,000 for damage to vehicles and property.

Liability coverage protects against things like court costs, bail bonds, structural damage, attorney fees and loss of income. How much coverage you buy is your choice, but buy as much as you can afford. Minnesota requires minimum liability limits of 30/60/10 but you should think about purchasing more coverage.

The chart below shows why minimum state limits may not be adequate.

Collision coverage – This coverage covers damage to your Canyon from colliding with another car or object. A deductible applies then your collision coverage will kick in.

Collision coverage protects against things such as crashing into a building, hitting a parking meter, colliding with a tree and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. Another option is to choose a higher deductible on your Canyon to bring the cost down.

Comprehensive or Other Than Collision – This coverage pays for damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive can pay for claims such as damage from a tornado or hurricane, a tree branch falling on your vehicle, falling objects and fire damage. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if the vehicle’s value is low it’s not worth carrying full coverage.

Auto insurance company ratings

Insuring your vehicle with the top car insurance provider can be rather challenging considering how many different companies there are to choose from in Minnesota. The company information listed below may help you choose which insurers to look at comparing rates with.

Top 10 Minneapolis Car Insurance Companies Ranked by Value

1. USAA
2. GEICO
3. AAA Insurance
4. State Farm
5. Liberty Mutual
6. Allstate
7. Safeco Insurance
8. 21st Century
9. Travelers
10. Titan Insurance

Top 10 Minneapolis Car Insurance Companies Ranked by Customer Satisfaction

1. USAA – 92%
2. American Family – 88%
3. State Farm – 88%
4. Nationwide – 88%
5. 21st Century – 88%
6. AAA Insurance – 87%
7. Liberty Mutual – 87%
8. Farmers Insurance – 87%
9. The Hartford – 87%
10. Progressive – 87%

Affordable car insurance is out there

We just covered a lot of tips how to save on GMC Canyon insurance in Minneapolis. The key concept to understand is the more companies you get premium rates for, the higher your chance of finding cheaper Minneapolis auto insurance quotes. You may even discover the biggest savings come from a lesser-known regional company. They can often provide lower premium rates in certain areas than the large multi-state companies such as Progressive and GEICO.

Cheaper GMC Canyon insurance in Minneapolis can be sourced online as well as from independent agents in Minneapolis, and you should compare rates from both to have the best selection. There are still a few companies who do not provide rate quotes online and most of the time these small insurance companies only sell coverage through independent insurance agents.

As you shop your coverage around, it’s a bad idea to skimp on coverage in order to save money. There have been many cases where an insured cut collision coverage and discovered at claim time that their decision to reduce coverage ended up costing them more. The ultimate goal is to buy the best coverage you can find for the lowest price, but do not sacrifice coverage to save money.

For more information, take a look at the following helpful articles:

• Get the Right Protection (InsureUonline.org)
• What Insurance is Cheapest for High School Students in Minneapolis? (FAQ)
• Who Has Affordable Auto Insurance for Low Credit Scores in Minneapolis? (FAQ)
• New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
• Auto Insurance Basics (Insurance Information Institute)
• State Car Insurance Guides (GEICO)
• Choosing a Car for Your Teen (State Farm)