Cheap Insurance for a GMC Sierra in Iowa

The likelihood of finding cheap coverage for a GMC Sierra in Iowa depends upon a complicated equation that takes into consideration things such as the age of the Sierra, if you have maintained coverage continuously, and your motor vehicle report. Drivers in Iowa will pay around $890 a year for Sierra insurance, but that rate is a projection assuming a 30-year-old single male driver who requires comprehensive and collision coverage and $500 physical damage deductibles.

There is a high likelihood that you are not a 30-year-old male, maybe you are married instead of single, and maybe your credit level is not the same as what was rated. Every driver has different characteristics, so your best shot at finding the most affordable coverage for your GMC is to regularly compare rates at renewal. Quotes only take a few minutes and you will receive price comparisons from some of the most affordable companies that offer coverage in Iowa.

Find Cheaper GMC Sierra Insurance

The trim level of your vehicle tends to have a direct effect on the coverage cost, so the price to insure a Sierra SLE Regular Cab 2WD trim level will be $140 lower than the insurance cost for the higher-end Sierra Denali Crew Cab 4WD version, as shown in the table below.

Data rating is based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Iowa minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Premium amounts do not factor in specific location which can increase or decrease auto insurance rates noticeably.

Deciding which insurers offer the cheapest insurance rates for a GMC Sierra will require a bit more work than just picking a company at random.

Every insurance company uses different criteria for determining rates in each state, so let’s take a look at the most affordable insurance companies in Iowa.

Best Cheap Insurance Rates for Your Truck

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USAA normally has some of the most affordable car insurance rates in Iowa at around $669 a year. Partners Mutual, Allied, Western National, and Hastings Mutual are also some of the lowest-priced Iowa car insurance companies.

In the rate table above, if you currently have coverage with Partners Mutual and switched to USAA, you might realize annual savings of in the vicinity of $29. Customers with Allied could save as much as $118 a year, and Western National policyholders might see rate reductions of $132 a year.

To see if your current coverage is too expensive, click here to get a free quote or visit any of the companies below.

It’s important to note that these estimates are averages for all ages of drivers and types of vehicles and are not factoring in a specific rating modification for a GMC Sierra. So the insurer that can offer you the best rate may not even be featured in the company chart above. That helps illustrate why you need to get quotes using your own personal information and vehicle type.

The information below demonstrates how deductibles can change annual premium costs when quoting cheap insurance for a GMC Sierra. The premiums are based on a married female driver, full physical damage coverage, and no discounts are factored in.

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The data above shows that a 30-year-old driver could lower their car insurance rates by $236 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $358 by choosing a $1,000 deductible. Even younger drivers, like the Age 20 category, could potentially save $504 or even more just by choosing higher deductibles. When insureds make the decision to increase the deductibles on their policy, it is important to have spare funds to allow you to pay the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.

Rate difference between full and liability-only coverage

Finding cheap insurance for a GMC Sierra in Iowa is important to most people, and one of the fastest ways to save on the cost of insurance is to buy liability only. The diagram below shows the difference between annual premium costs with and without full coverage. The premiums are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are single, and no policy discounts are applied.

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If the expense is averaged for all age categories, full coverage costs $1,696 per year more than just buying liability insurance. That raises the question when is it safe to stop buying full coverage. There is no written rule that is best for determining when to drop full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is about 10% or more of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

For example, let’s pretend your vehicle’s settlement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would receive is $5,000 after the policy deductible has been paid. If you are currently paying more than $500 a year for your policy with full coverage, then it might be time to buy liability only.

There are some cases where buying only liability insurance is not a good plan. If you haven’t paid off your loan, you have to keep full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.

Who has the cheapest GMC Sierra insurance quotes?

Due to technology, there are many ways to buy insurance in Iowa, but the most popular methods are from a non-exclusive or independent agent, an exclusive insurance agent such as Allstate or Liberty Mutual, or direct online or over the phone from a company like Progressive or Geico. Each way has the same basic steps, but they differ in how they provide price quotes.

Independent insurance agencies write for multiple companies and can get rate quotes from every one. They have the ability to provide multiple price quotes, which can help you get the best chance of saving money. If your agent finds better pricing, an independent agent can move your coverage and you can remain with the same agent.

A captive or exclusive agent is only able to write business for one company, two of the more popular are a State Farm or Liberty Mutual agent. They are unable to quote prices from more than a single company, which will not provide a complete price comparison.

The last way is buying direct, which means you skip either of the other two types of agents and instead buy buying direct from a company like Progressive or Esurance. This option may be preferred by families who have limited assets and understand the limitations of their policy.

So what is the best way for finding cheap insurance for a GMC Sierra in Iowa? The obvious answer would be buying from a direct company results in the best prices since it doesn’t require paying agent commissions, but in reality, that is not the case. We could also assume that an independent agent guarantees the cheapest rates since they can quote with many companies, but that is not necessarily true either. In many circumstances, the exclusive agents have coverage prices that other insurance companies cannot touch.

Because there are so many factors that make up insurance rates, the guaranteed way to not overpay for insurance is to obtain price quotes and compare them. Industry experts recommend getting quotes from all three to have a good selection of rates to choose from. To see some of the cheapest online companies available, click here to view.