Cheap Quotes for GMC Sierra Insurance in Denver

I doubt anyone loves paying for auto insurance, in particular when the prices are way too high.

It’s astonishing, but a large majority of drivers have been with the same company for at least four years, and almost 40% of drivers have never compared rates to find lower-cost insurance. Colorado consumers could cut their rates by roughly $600 a year by just shopping around, but most undervalue the large savings they would see if they switched to a more affordable policy. Because there are so many choices of insurance companies that have cheap insurance for a GMC Sierra in Denver, it can be challenging to locate the right company.

You should take the time to do price comparisons occasionally since insurance prices are variable and change quite frequently. Just because you had the lowest rates on GMC Sierra insurance in Denver two years ago the chances are good that you can find a lower premium rate today. Ignore everything you know about auto insurance because you’re about to learn the easiest way to find better coverage on GMC Sierra insurance in Denver at a better price.

The method we recommend to compare rates for GMC Sierra insurance in Denver takes advantage of the fact most of the larger companies actually pay money for the chance to give you rate quotes. The one thing you need to do is take a few minutes to give details including how much coverage you want, driver details, if your license is active, and your education level. Those rating factors gets transmitted to multiple companies and they provide comparison quotes within a short period of time.

To compare rates for your GMC Sierra now, click here and enter your zip code.

The companies shown below can provide price comparisons in Denver, CO. If multiple companies are shown, it’s a good idea that you visit several of them in order to get a fair rate comparison.

Data assumes married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Estimates do not factor in zip code location which can revise prices noticeably.

Higher deductibles save money

The chart below demonstrates how choosing different deductibles and can influence GMC Sierra insurance premiums for different age categories. The premiums are based on a married male driver, full physical damage coverage, and no policy discounts are applied.

How much more does full coverage cost?

The example below shows the comparison of GMC Sierra auto insurance rates with full physical damage coverage compared to only buying liability only. The information is based on no claims, a clean driving record, $500 deductibles, single male driver, and no discounts are factored in.

Should you be buying full coverage?

There is no written rule for dropping comp and collision coverage, but there is a general guideline you can use. If the yearly cost of full coverage is more than about 10% of the settlement you would receive from your company, then you might want to think about dropping full coverage.

For example, let’s assume your GMC Sierra claim settlement value is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $6,000 after paying your policy deductible. If premium cost is more than $600 annually to have full coverage, then it may be the right time to buy liability only.

There are some conditions where removing full coverage is not recommended. If you still owe money on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not eliminate full coverage.

Analysis of deductible levels

One of the most common car insurance questions is how high should the deductibles for physical damage be. The tables below illustrate the difference in cost when you select higher and lower physical damage deductibles. The first data set uses a $250 deductible for physical damage and the second rate chart uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Premium amounts do not factor in specific zip code location which can modify premiums noticeably.

Using the premium rates above, we can conclude that using a $250 deductible will cost you roughly $15 more each month or $180 every year than buying the higher $500 deductible. Since you would pay $250 more out-of-pocket with a $500 deductible as compared to a $250 deductible, if you tend to average at least 17 months between claims, you would probably be better off going with the higher deductible.

Three main reasons to buy auto insurance

Despite the high cost, insuring your vehicle may be mandatory for several reasons.

First, just about all states have compulsory liability insurance requirements which means you are required to buy a specific level of liability insurance coverage in order to drive the car. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.

Second, if your GMC Sierra has a lien holder, almost every bank will stipulate that you buy full coverage to guarantee loan repayment. If you cancel or allow the policy to lapse, the lender will be forced to insure your GMC at a much higher premium rate and force you to reimburse them much more than you were paying before.

Third, auto insurance protects both your assets and your car. It will also reimburse you for most medical and hospital costs for both you and anyone you injure as the result of an accident. Liability insurance will also pay attorney fees in the event you are sued. If your GMC gets damaged, your auto insurance policy will pay all costs to repair after the deductible has been paid.

The benefits of insuring your car are definitely more than the cost, especially if you ever need it. According to a 2015 survey, the average American driver overpays more than $869 every year so smart consumers compare quotes at least once a year to help ensure money is not being wasted.

Companies offer lots of discounts on GMC Sierra insurance in Denver

Companies that sell car insurance do not advertise their entire list of discounts in a way that’s easy to find, so below is a list some of the more common and also the lesser-known credits available to you.

• Home Ownership Discount – Just owning your own home can earn you a little savings since home ownership is proof of financial responsibility.
• Auto/Life Discount – If the company offers life insurance, you could get a discount if you purchase life insurance.
• Federal Government Employee – Active or former government employment may qualify for a discount when you quote Denver auto insurance with some auto insurance companies.
• Low Miles Discount – Keeping the miles down on your GMC could be rewarded with lower premium rates due to less chance of an accident.
• Active Service Discounts – Being deployed in the military could qualify you for better prices.
• Accident Waiver – Not necessarily a discount, but some insurance companies may permit one accident without raising rates if you have no claims for a set time period.
• Discount for Good Grades – Excelling in school can save 20 to 25%. The good student discount can last up to age 25.
• Multi-policy Discount – If you have multiple policies and insure them both with the same insurance company you may earn at least 10% off all policies.
• Sign Early and Save – A few insurance companies give discounts for switching companies before your current Sierra insurance policy expires. It can save you around 10%.
• Theft Prevention Discount – Vehicles with anti-theft systems are less likely to be stolen and therefore earn up to a 10% discount.

One thing to note about discounts is that most discount credits are not given to your bottom line cost. A few only apply to specific coverage prices like comp or med pay. So when the math indicates all those discounts means the company will pay you, insurance companies wouldn’t stay in business. Any qualifying discounts will definitely lower your premiums.

For a list of providers with discount auto insurance rates in Denver, click this link.

You may need advice from a local insurance agent

Some people just want to talk to a local agent and that is a smart decision Professional agents are very good at helping people manage risk and give you someone to call. An additional benefit of comparing insurance prices online is that drivers can save money and get better rates and also buy local. Supporting neighborhood agents is important particularly in Denver.

After filling out this short form, the quote information is immediately sent to insurance agents in Denver that provide free Denver auto insurance quotes for your coverage. There is no need to visit any agencies because prices are sent straight to your inbox. If for some reason you want to get a rate quote from a specific insurance company, you can always jump over to their website and give them your coverage information.

Finding the right insurance company shouldn’t rely on just the quoted price. Before buying a policy in Denver, get answers to these questions.

• Are claims handled at the agent’s location?
• If you are a high risk driver, do they have special markets for your coverage?
• What company do they have the most business with?
• Where would your vehicle be repaired?
• Is every driver in your family covered?
• Do they review policy coverages at every renewal?
• Are there any hidden costs in their price quote and does it include driving and credit history?
• How long has their agency been open in Denver?

A conclusion for your car insurance search

Throughout this article, we presented a lot of ways to save on GMC Sierra insurance in Denver. It’s most important to understand that the more providers you compare, the better your chances of lowering your auto insurance rates. Drivers may even discover the lowest rates are with the smaller companies. These companies may often insure only within specific states and give better rates than their larger competitors like Allstate and Progressive.

When searching for affordable Denver auto insurance quotes, it’s very important that you do not buy less coverage just to save a little money. In many instances, consumers will sacrifice liability coverage limits only to find out that their decision to reduce coverage ended up costing them more. The aim is to get the best coverage possible at a price you can afford while not skimping on critical coverages.

Helpful articles

• Reducing Your Risks in a Car Crash Video (iihs.org)
• How Much is Car Insurance for College Students in Denver? (FAQ)
• Who Has Cheap Car Insurance for Electric Cars in Denver? (FAQ)
• Who Has Cheap Auto Insurance for College Graduates in Denver? (FAQ)
• Who Has Affordable Denver Auto Insurance Rates for State Employees? (FAQ)
• Who Has the Cheapest Denver Auto Insurance Quotes for Teenage Males? (FAQ)
• Who Has the Cheapest Car Insurance for a GMC Sierra in Denver? (FAQ)
• Determining Your Vehicle’s Value and Repair Cost (Insurance Information Institute)
• Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
• How Can I Save Money on Auto Insurance? (Insurance Information Institute)