Affordable Insurance for a GMC Sierra 3500HD in Minneapolis

If you want to save the most money, the best way to get more affordable GMC Sierra 3500HD insurance in Minneapolis is to compare prices at least once a year from companies in Minnesota.

1. Read and learn about how car insurance works and the things you can change to prevent high rates. Many rating criteria that cause high rates like accidents, careless driving, and an imperfect credit history can be eliminated by being financially responsible and driving safely.
2. Compare prices from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only quote rates from a single company like GEICO or Farmers Insurance, while independent agencies can give you price quotes from multiple insurance companies.
3. Compare the new quotes to your existing coverage to determine if switching companies saves money. If you find a lower rate quote and change companies, ensure coverage does not lapse between policies.
4. Provide notification to your current agent or company of your intent to cancel your current auto insurance policy. Submit a down payment along with a signed application for the new policy. Immediately safely store the proof of insurance paperwork along with the vehicle’s registration papers.

An essential thing to point out is that you’ll want to make sure you compare the same physical damage deductibles and liability limits on every price quote and and to analyze as many auto insurance providers as possible. Doing this helps ensure a fair rate comparison and the most accurate and complete price analysis.

A recent car insurance study discovered that over 70% of consumers kept their coverage with the same car insurance company for over three years, and roughly 40% of drivers have never compared rates to find lower-cost insurance. With the average car insurance premium being $2,240, Minneapolis drivers could pocket about 50% a year by just comparing rate quotes, but they don’t invest the time required to compare rate quotes.

Four Things That Determine Your Insurance Costs

Lots of factors are considered when you get your auto insurance bill. Some factors are common sense such as your driving history, although some other factors are less apparent like where you live or how financially stable you are.

Listed below are a few of the “ingredients” utilized by car insurance companies to help set prices.

• Is your vehicle theft-ready? – Driving a car that has an advanced theft prevention system can get you a discount on your auto insurance. Advanced theft deterrents like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help prevent auto theft.

• Get a ticket, pay higher prices – Having a clean driving record impacts premiums far more than you think. Having just one ticket can increase rates substantially. Careful drivers receive lower rates as compared to careless drivers. Drivers who get flagrant violations like reckless driving, hit and run or driving under the influence may face state-mandated requirements to prove financial responsibility with their state motor vehicle department in order to legally drive.

  The information below illustrates how traffic citations and at-fault accidents can raise GMC Sierra 3500HD insurance rates for each different age category. The prices are based on a single male driver, full physical damage coverage, $100 deductibles, and no policy discounts are applied.

• Do you really need roadside assistance? – Insurance companies have many additional extra coverages that may not really be needed if you aren’t careful. Coverage for things like rental car coverage, high-cost glass coverage, and motor club memberships are examples of these. They may seem like a good idea at first, but if you’ve never needed them in the past remove them from your policy.
• Liability claims can be big – Liability insurance will provide protection when you are found to be at fault for causing personal injury or damage in an accident. It will provide legal defense coverage which can cost a lot. This coverage is very inexpensive when compared to the cost of physical damage coverage, so do not cut corners here.

GMC Sierra 3500HD detailed coverage information

The information displayed next covers a range of coverage prices for GMC Sierra 3500HD models. Being aware of how rates are formulated is important for you to make informed decisions when shopping around for a new policy.

Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Rate quotes do not factor in vehicle location which can change coverage rates greatly.

Physical damage deductible comparison

One of the more difficult decisions when buying insurance is at what level do you set your deductibles. The following insurance rates help summarize how much more you’ll pay between high and low insurance deductibles. The first price estimate table uses a $100 deductible for comprehensive and collision coverage and the second rate table uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Rate information does not factor in specific location which can raise or lower auto insurance rates greatly.

Based on the figures above, using a $100 deductible costs roughly $27 more each month or $324 a year than choosing the higher $500 deductible. Because you would be required to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you tend to average at least 15 months between claim filings, you would probably be better off by selecting a higher deductible.

Price comparison of only insuring for liability

The illustration below shows the comparison of GMC Sierra 3500HD auto insurance costs with full coverage and liability only. Data assumes no claims or driving citations, $1,000 deductibles, single marital status, and no discounts are applied to the premium.

Should you pay for full coverage?

There isn’t a written rule of when to phase out physical damage coverage, but there is a general school of thought. If the annual cost of having full coverage is about 10% or more of replacement cost minus your deductible, then it may be the right time to buy liability only.

For example, let’s pretend your GMC Sierra 3500HD claim settlement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $3,000 after you pay the deductible. If you are paying in excess of $300 annually for full coverage, then it might be time to buy liability only.

There are some situations where removing full coverage is not financially feasible. If you haven’t paid off your loan, you have to maintain full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should not buy liability only.

Take policy discounts and save on GMC Sierra 3500HD insurance in Minneapolis

Insurance can be prohibitively expensive, but you may find discounts that you may not even be aware of. Many discounts should be triggered when you purchase, but less common discounts must be specifically requested in order for you to get them. If you do not check that you are getting every discount available, you are just wasting money.

• Braking Control Discount – Cars with anti-lock braking systems can reduce accidents and qualify for as much as a 10% discount.
• Smart Student Discounts – Performing well in school may save as much as 25% on a Minneapolis auto insurance quote. Earning this discount can benefit you well after school through age 25.
• Discounts for New Vehicles – Putting coverage on a new Sierra 3500HD can get you a discount because new vehicles have to meet stringent safety requirements.
• Drive Less and Save – Low mileage vehicles may enable drivers to earn better insurance rates on cars that stay parked.
• No Claim Discounts – Good drivers with no accidents can earn big discounts when compared to drivers who are more careless.
• Renewal Discounts – Some companies provide a discount for switching to them early. It can save you around 10%.

Just know that most discounts do not apply to the entire cost. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. Just because you may think it’s possible to get free car insurance, companies don’t profit that way.

The diagram below compares GMC Sierra 3500HD insurance rates with and without discounts being applied to the rates. The prices are based on a male driver, no accidents, no driving violations, Minnesota state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, homeowner, safe-driver, marriage, claim-free, and multi-policy discounts applied.

Some of the larger companies that may have most of these discounts include:

• State Farm
• GEICO
• Progressive
• 21st Century
• American Family
• The Hartford
• AAA

When comparing rates, check with each company or agent the best way to save money. Some of the earlier mentioned discounts may not be offered everywhere.

Final considerations

We covered some good ideas how you can shop for GMC Sierra 3500HD insurance online. The key concept to understand is the more companies you get auto insurance rates for, the higher your chance of finding cheaper Minneapolis auto insurance quotes. You may even discover the biggest savings come from an unexpected company.

As you shop your coverage around, don’t be tempted to skimp on coverage in order to save money. There are many occasions where drivers have reduced liability coverage limits to discover at claim time that they should have had better coverage. Your focus should be to buy enough coverage for the lowest price, but do not sacrifice coverage to save money.

Drivers who switch companies do it for any number of reasons including policy non-renewal, policy cancellation, high rates after DUI convictions or extreme rates for teen drivers. It doesn’t matter what your reason, switching car insurance companies can be pretty painless.

Even more information can be read at these sites:

• What is a Telematics Device? (Allstate)
• How Much are Auto Insurance Rates for a Chevrolet Silverado in Minneapolis? (FAQ)
• Who Has Cheap Car Insurance Rates for a School Permit in Minneapolis? (FAQ)
• Understanding Car Crashes Video (iihs.org)
• Avoiding Deer Collisions (Insurance Information Institute)
• Child Safety FAQ (iihs.org)
• What is Covered by an Auto Insurance Policy? (Insurance Information Institute)