Who Has Cheap Insurance Quotes for a GMC Sierra in Minnesota?

Finding affordable car insurance for a GMC Sierra in Minnesota depends upon a lot of factors such as if you have purchased a home, what you do for a living, and if you have a clean driving record. Drivers pay on average $1,000 a year to buy insurance for a GMC Sierra, but that price is an estimation based on cost data for a 50-year-old single female driver that included full coverage including both comprehensive and collision and $500 deductibles.

There’s a high likelihood you are not a 50-year-old female, maybe you are married instead of single, or maybe you have a speeding ticket that needs to be factored in. What people think is a minor change in the rating input factors can cause significant differences in the amount insurance costs for a GMC Sierra.

Everyone has different rating factors, so the most reliable method for finding cheap insurance prices for your GMC is to do a thorough rate comparison.

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The trim level of your GMC will most likely have an effect on the insurance rate, so the price you will pay to insure a Sierra SLE Regular Cab 2WD will be $160 less than the price to insure the more well-appointed Sierra Denali Crew Cab 4WD trim level, as shown in the prices below.

Prices above based on single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Minnesota minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-policy, and multi-vehicle. Rate quotes do not factor in vehicle location which can revise premiums significantly.

Ending up with a good quality company is difficult considering how many choices there are in Minnesota. The company information shown below may help you choose which auto insurance companies to look at when comparing rate quotes.

The rankings below are only comprised of companies who write in the majority of U.S. states, so companies without a large exposure are not taken into consideration for this list. To view rates from the insurers below and more, click here.

The chart below demonstrates how deductible levels can affect insurance costs when quoting cheap insurance for a GMC Sierra. The premium estimates are based on a single male driver, full physical damage coverage, and no additional discounts are factored in.

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As shown above, a 50-year-old driver could cut expenses by $364 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $546 by selecting a $1,000 deductible. Younger drivers, such as the 20-year-old example, could possibly save $1,202 or even more by choosing a larger deductible amount. When raising deductibles, it is a good idea to have enough savings to satisfy the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Difference between full coverage and liability only rates

Finding cheap insurance for a GMC Sierra in Minnesota is probably important to the majority of people, and one of the best ways to pay less for insurance is to not buy comprehensive and collision coverage. The example below shows the comparison of insurance costs with full phyical damage coverage and with liability coverage only. The information is based on no claims or driving violations, $500 deductibles, single marital status, and no additional discounts are factored in.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 3527,1129],[‘Age 30’, 1827,621],[‘Age 40’, 1809,575],[‘Age 50’, 1645,539],[‘Age 60’, 1591,529],[‘Age 70’, 1935,707]]);var options = {title: ‘Savings of Only Insuring for Liability’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Insurance Cost for a GMC Sierra in Minnesota’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

Averaged for all age groups, physical damage coverage costs an extra $2,056 per year more than carrying just liability coverage. Many drivers may wonder when is the right time to remove full coverage. There is no definitive guideline of when to stop paying for physical damage coverage, but there is a general guideline you can use. If the annual cost of having full coverage is more than around 10% of any settlement you would receive from your insurance company, then you might consider buying liability only.

For example, let’s pretend your vehicle’s replacement cost is $7,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would get paid by your company is $6,500 after the policy deductible has been paid. If you are paying over $650 annually for comprehensive and collision coverage, then you may need to consider dropping full coverage.

How to find economical insurance for a GMC Sierra

It is possible to find better rates, and here are many penny-pinching solutions that can help Minnesota drivers locate cheap coverage.

• Having at-fault accidents will increase rates
• Bundle car and home insurance and save money
• Discounts for being claim-free can be substantial
• Vehicles with good safety ratings have lower liability rates
• Violations and traffic tickets increase rates
• Save money by insuring older vehicles for liability only
• Compare rates often to find the best deal

That final tip is extremely vital, as we stressed in the prior information. Auto insurance prices can be adjusted at any time, so drivers shouldn’t hesitate to switch to a new company if you find a better deal. Staying with the same car insurance company is fine, but it’s not a great idea if that inflexibility results in costing you a small fortune year after year. In just a few minutes you could compare rates to find cheaper auto insurance for a GMC Sierra.

Who is cheaper: Geico, Progressive, Allstate, or State Farm?

When researching car insurance, four companies you’ll want quotes from are Geico, Progressive, Allstate, and State Farm. Between them, they make up over 45% of all auto insurance policies in force. All offer liability and physical damage insurance, but each one has slightly different options that drivers can select from. The table below points out pricing and service ratings, as well as optional policy coverages that policyholders can buy.