Find Cheaper GMC Sierra Insurance in Lexington

Having to pay for expensive GMC Sierra insurance in Lexington can bleed your checking account and force you to make tough financial choices. Performing a rate comparison is a great way to lower your bills every month.

Amazingly, over 70% of Kentucky drivers kept their policy with the same company for more than four years, and approximately 40% of consumers have never even compared rates from other companies. With the average premium in America being $1,847, drivers could cut their rates by as much as $859 a year just by getting comparison quotes, but they feel it’s too difficult to do a rate comparison. Insurance companies such as State Farm, Farmers Insurance, GEICO and Allstate all claim big savings, bombarding you with TV and radio ads and it is challenging if not impossible to not get sucked in by the cute commercials and find the best price available.

If you are already insured or just want cheaper rates, use these cost-cutting techniques to save money and possibly find even better coverage. Buying affordable insurance in Lexington is quite easy. Smart shoppers only have to learn how to compare rate quotes from multiple carriers.

Finding low cost Lexington auto insurance prices is actually easier than you may think. All that’s required is to invest a little time comparing rates to see which company has affordable GMC Sierra insurance quotes.

Comparing rates online is fast and free, and it makes it obsolete to waste gas driving to insurance agents’ offices. The ability to buy insurance online reduces the need to sit down with an agent unless you require the personal advice of a licensed agent. Although you can obtain prices from the web but have your policy serviced through an agent.

The companies shown below can provide free rate quotes in Kentucky. If your goal is to find the best auto insurance in Lexington, we suggest you click on several of them in order to get a fair rate comparison.

GMC Sierra insurance charts and tables

The premium information displayed below outlines a range of policy rates for GMC Sierra models. Learning as much as possible about how auto insurance policy rates are calculated is important for making smart choices when choosing a car insurance company.

Data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Kentucky minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, safe-driver, and claim-free. Information does not factor in zip code location which can decrease or increase premium rates substantially.

Policy deductibles

A question often asked by Lexington drivers is how high should the deductibles for physical damage be. The rates shown below approximate how much more you’ll pay of buying low and high coverage deductibles. The first data table uses a $100 deductible for comp and collision and the second price grid uses a $500 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Information does not factor in your specific Lexington location which can change rates significantly.

We can derive from the above data that using a $100 deductible could cost the average driver approximately $25 more each month or $300 each year than selecting the higher $500 deductible. Due to the fact that you would have to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at a minimum 16 months between claim filings, you would probably save some money if you choose a higher deductible.

The chart below highlights how deductible selection and can raise or lower GMC Sierra insurance rates for different insured age categories. The prices are based on a single male driver, full coverage, and no discounts are applied to the premium.

Full coverage versus liability-only

The information below illustrates the difference between GMC Sierra auto insurance rates with full coverage compared to only the Kentucky minimum liability coverage. The data assumes no violations or claims, $100 deductibles, marital status is single, and no policy discounts are applied.

When to stop buying physical damage coverage

There is no clear-cut rule to stop paying for full coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

For example, let’s say your GMC Sierra replacement cost is $7,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most you would receive is $6,000 after you pay the deductible. If premium cost is more than $600 a year for physical damage coverage, then you might consider buying liability only.

There are a few cases where removing full coverage is not in your best interest. If you still owe a portion of the original loan, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage.

Why you need auto insurance

Despite the high insurance cost for a GMC Sierra in Lexington, paying for auto insurance may not be optional for several reasons.

• The majority of states have minimum liability requirements which means it is punishable by state law to not carry a specific minimum amount of liability protection in order to drive the car. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
• If your GMC Sierra has a loan, more than likely the lender will stipulate that you buy insurance to ensure the loan is repaid in case of a total loss. If you let the policy lapse, the lender will be forced to insure your GMC at an extremely high rate and force you to reimburse them much more than you were paying before.
• Insurance safeguards your GMC and your assets. Insurance will also pay for medical expenses that are the result of an accident. One policy coverage, liability insurance, will also pay to defend you if anyone sues you for causing an accident. If you have damage to your GMC as the result of the weather or an accident, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of buying auto insurance greatly outweigh the cost, particularly if you ever have a claim. The average driver in Kentucky overpays as much as $865 each year so you should quote rates every year to ensure rates are inline.

Lower Your Lexington Insurance Rates

One of the most helpful ways to save on car insurance is to to have a grasp of the rating factors that come into play when calculating the rates you pay for car insurance. If you know what positively or negatively impacts your premiums, this allows you to make educated decisions that could help you find lower premium levels.

Do you need those extra policy coverages? – There are a lot of optional add-on coverages that can waste your money on your car insurance policy. Coverage for things like roadside assistance, accidental death, and membership fees are probably not needed. The coverages may be enticing when deciding what coverages you need, but if you’ve never needed them in the past remove them and pocket the money.

Premiums are affected by your credit history – Your credit rating is a big factor in determining premium rates. People that have excellent credit scores tend to be more responsible than drivers who have poor credit. So if your credit score leaves room for improvement, you could be paying less to insure your GMC Sierra if you clean up your credit.

Costs also based on gender – Statistics demonstrate females are less aggressive when driving. However, this does not mean females are better drivers. Females and males cause at-fault accidents at a similar rate, but males cause more damage and cost insurance companies more money. Men also receive more major tickets like DUI and reckless driving.

The information below visualizes the comparison of GMC Sierra annual premium costs for male and female drivers. The data assumes a clean driving record, no claims, full physical damage coverage, $250 deductibles, marital status is single, and no other discounts are factored in.

Costs are impacted by vehicle performance – The performance level of the vehicle you are trying to find cheaper insurance for makes a big difference in your car insurance bill. The cheapest rates are for small economy passenger cars, but the final cost of insurance is determined by many other factors.

The next chart assumes a single male driver age 20, full coverage with $500 deductibles, and no discounts or violations. It illustrates GMC Sierra policy rates compared to other models that have different risk factors.

You might want pay the minor policy claims yourself – If you are the type of insured that files lots of claims you can expect either higher rates or even cancellation. Companies in Kentucky give the lowest premiums to policyholders who only file infrequent claims. Your insurance policy is designed for the bigger claims that can’t be paid out-of-pocket.

Insurance loss probability for a GMC Sierra – Auto insurance companies factor in historical loss data to calculate a rate that will offset losses. Vehicles that have increased claim numbers or amounts will have a higher cost to insure.

The information below illustrates the insurance loss data used by companies for GMC Sierra vehicles. For each coverage category, the claim probability for all vehicles combined as an average is a value of 100. Numbers below 100 indicate better than average losses, while numbers that are greater than 100 show a trend for more claims or an increased chance of a larger loss.

Save with these discounts

Some insurers don’t list every policy discount very clearly, so the below list has some of the more common and the more hidden savings tricks you should be using when you buy Lexington auto insurance online. If you check and find you aren’t receiving every discount you qualify for, you are throwing money away.

• Homeowners Savings – Just owning your own home may trigger a policy discount on auto insurance since owning and maintaining a home shows financial diligence.
• Anti-lock Brakes – Cars that have steering control and anti-lock brakes are much safer to drive and qualify for as much as a 10% discount.
• Sign Online – A few larger companies will provide an incentive for buying your policy over the internet.
• Driver’s Education for Students – Require your teen driver to take driver’s ed class as it can save substantially.
• Seat Belt Discounts – Using a seat belt and requiring all passengers to use their safety belts can save 10% or more on the premium charged for medical payments and/or PIP.

Don’t be surprised that most credits do not apply to the whole policy. Most only cut individual premiums such as collision or personal injury protection. So even though they make it sound like you can get free auto insurance, companies wouldn’t make money that way.

The example below shows the comparison of GMC Sierra auto insurance costs with and without discounts applied to the policy premium. The premiums assume a male driver, a clean driving record, no claims, Kentucky state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, safe-driver, multi-car, homeowner, multi-policy, and claim-free discounts applied.

If you would like to view insurers offering auto insurance discounts in Lexington, click here.

It’s not one size fits all

When buying the best insurance coverage, there really is not a “perfect” insurance plan. Every insured’s situation is different so your insurance needs to address that.
For instance, these questions may help you determine if your situation might need professional guidance.

• Can my teen drive my company car?
• Is rental equipment covered for theft or damage?
• Am I covered if I break a side mirror?
• Do I have coverage when making deliveries for my home business?
• Who does medical payments coverage extend to?
• Do I need replacement cost coverage on my GMC Sierra?
• Do I need PIP (personal injury protection) coverage in Kentucky?
• What is high-risk coverage and where do I buy it?

If it’s difficult to answer those questions, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, simply complete this short form or you can go here for a list of companies in your area. It is quick, free and can provide invaluable advice.

Comparing rates from local Lexington insurance agents

Many drivers still prefer to have an agent’s advice and that is recommended in a lot of cases Most agents can help you build your policy and give you someone to call. One of the great benefits of getting free rate quotes online is you may find lower premium rates and still have an agent to talk to.

To help locate an agent, after submitting this short form, your insurance coverage information is emailed to companies in Lexington that can provide free Lexington auto insurance quotes and help you find cheaper coverage. You never need to find an agent on your own due to the fact that quote results will go directly to you. In the event you want to get a rate quote from a particular provider, feel free to search and find their rate quote page and complete a quote there.

Finding the right insurer shouldn’t rely on just the bottom line cost. Ask your prospective agent these questions:

• Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
• If you have an accident, will your rates go up?
• Do they write coverage based solely on cost?
• Are there any discounts that you might be missing?
• Does the quote include credit and driving reports?
• Can they provide you with a list of referrals?
• Which insurance company do they prefer to write with?
• Has the agent ever had any license suspensions?

Best car insurance agent in Lexington

When searching for local Lexington agents, it’s important to understand the different types of agents and how they can quote your rates. Agents in Lexington can be categorized as either independent (non-exclusive) or exclusive. Either type can insure your vehicles, but it’s worth mentioning how they differ since it can affect buying decisions.

Exclusive Auto Insurance Agents

Exclusive agencies write business for a single company and examples are State Farm, AAA, Farmers Insurance or Allstate. Exclusive agents cannot provide other company’s prices so it’s a take it or leave it situation. These agents receive extensive training on sales techniques which helps them sell on service rather than price.

Shown below is a short list of exclusive insurance agents in Lexington willing to provide price quotes.

More insurance agents

Independent Auto Insurance Agents

These agents often have affiliation with several companies so they have the ability to put coverage with multiple insurance companies and find the cheapest auto insurance rates. If they quote lower rates, they simply move your policy to a different company which makes it simple for you.

If you are comparing auto insurance prices, you absolutely need to get several quotes from a few independent agents to maximize your price options.

The following is a short list of independent agencies in Lexington that can give you rate quotes.

More insurance agents

After receiving good answers to your questions as well as a price you’re happy with, you’ve probably found an insurance agent that is professional and can adequately provide auto insurance. Just keep in mind consumers can cancel coverage for any reason so don’t think that you are obligated to the auto insurance policy indefinitely.

Smart shoppers get results

We covered many ways to shop for GMC Sierra insurance online. The most important thing to understand is the more rate quotes you have, the higher your chance of finding affordable Lexington auto insurance quotes. Consumers could even find that the best car insurance rates are with some of the lesser-known companies. Smaller companies can often provide lower premium rates in certain areas as compared to the big name companies such as Allstate or State Farm.

Discount GMC Sierra insurance in Lexington is definitely available on the web as well as from insurance agents, so you need to quote Lexington auto insurance with both to have the best selection. Some insurance companies do not offer price quotes online and many times these smaller companies sell through independent agents.

As you shop your coverage around, make sure you don’t buy less coverage just to save a little money. There have been many cases where an accident victim reduced uninsured motorist or liability limits only to regret at claim time that they should have had better coverage. Your focus should be to buy the best coverage you can find at a price you can afford while not skimping on critical coverages.

How to save on GMC Sierra insurance in Lexington

The preferred way to find cheaper quotes for GMC Sierra insurance is to regularly compare prices from companies in Lexington.

• First, take a few minutes and learn about how companies set rates and the steps you can take to drop your rates. Many factors that increase rates such as distracted driving and an imperfect credit score can be controlled by making lifestyle changes or driving safer.
• Second, quote rates from direct, independent, and exclusive agents. Exclusive and direct companies can only give prices from a single company like Progressive and State Farm, while independent agents can provide prices from multiple insurance companies.
• Third, compare the new rate quotes to your current policy to see if a cheaper rate is available in Lexington. If you can save money and buy the policy, ensure there is no coverage lapse between policies.
• Fourth, provide proper notification to your current company of your intention to cancel the current policy and submit payment and a completed application for your new policy. Immediately upon receiving it, put the new certificate verifying coverage with your registration paperwork.

A good tip to remember is to make sure you enter the same physical damage deductibles and liability limits on each price quote and and to look at as many carriers as you can. Doing this guarantees an apples-to-apples comparison and and a good selection of different prices.

For more information, feel free to browse the following helpful articles:

• Insurance Losses by Make and Model (iihs.org)
• Who Has Affordable Lexington Auto Insurance for a Ford Escape? (FAQ)
• Who Has Affordable Car Insurance Quotes for 19 Year Olds in Lexington? (FAQ)
• Shopping for a Safe Car (Insurance Information Institute)
• Where can I buy Insurance? (Insurance Information Institute)
• Auto Insurance for Teen Drivers (Insurance Information Institute)