Car Insurance Rate Quotes for a GMC Yukon in Lexington

Would you like to stop wasting money and find more affordable GMC Yukon insurance in Lexington? Finding the cheapest insurance for a GMC Yukon in Kentucky could be a painful process, but you can follow a few tricks to make it easier.

There is a right way and a wrong way to find car insurance online and we’ll show you the best way to price shop coverage for a new or used GMC and get the best price possible.

Discount GMC Yukon insuranceIt’s safe to assume that car insurance companies don’t want their customers to go rate shopping. People who shop around at least once a year are highly likely to switch car insurance companies because they have good chances of finding a lower rate. A study showed that consumers who compared rates once a year saved an average of $850 each year compared to policyholders who don’t regularly compare prices.

If finding low prices for insurance in Lexington is your ultimate target, then learning a little about how to shop and compare cheaper coverage can save time and money.

It is always a good idea to compare prices as often as possible because insurance rates trend upward over time. Just because you had the best premium rates on GMC Yukon insurance in Lexington on your last policy you can probably find a better price now. Forget all the misinformation about car insurance because I’m going to let you in on the secrets to one of the easiest ways to get good coverage on GMC Yukon insurance in Lexington at a lower rate.

The best way we recommend to compare car insurance rates for GMC Yukon insurance in Lexington is to understand all the major auto insurance companies provide online access to give rate comparisons. All consumers are required to do is provide information like the year, make and model of vehicles, if your license is active, how much school you completed, and whether your vehicle is owned or leased. The data is instantly sent to many different companies and you get price estimates instantly.

If you wish to get multiple quotes for your car now, click here then complete the form.

The companies in the list below can provide free rate quotes in Lexington, KY. To buy the best car insurance in Lexington, KY, it’s highly recommended you get prices from several of them to get the best price comparison.

Affordable rates with discounts

Some insurers don’t list every discount they offer in a way that’s easy to find, so the list below contains some of the best known and the more hidden discounts you could be receiving when you buy Lexington auto insurance online. If they aren’t giving you every credit available, you are not getting the best rate possible.Save money with discounts

As is typical with insurance, many deductions do not apply to your bottom line cost. Most only reduce the price of certain insurance coverages like comp or med pay. Just because you may think it’s possible to get free car insurance, you’re out of luck.

The diagram below illustrates the comparison of GMC Yukon premium costs with and without discounts applied to the policy premium. The premium estimates are based on a female driver, no tickets, no at-fault accidents, Kentucky state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, claim-free, multi-car, marriage, safe-driver, and multi-policy discounts applied.

To see providers that can offer you the previously mentioned discounts in Kentucky, click here to view.

Statistics and details

The coverage table shown below covers different policy rates for GMC Yukon models. Having insight into how car insurance premiums are figured is important to be able to make decisions when shopping your coverage around.

GMC Yukon Insurance Rates in Lexington, KY
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Yukon 2WD $304 $574 $424 $26 $128 $1,456 $121
Yukon SLE 2WD $304 $574 $424 $26 $128 $1,456 $121
Yukon 4WD $304 $574 $424 $26 $128 $1,456 $121
Yukon SLE 4WD $304 $574 $424 $26 $128 $1,456 $121
Yukon SLT 2WD $304 $574 $424 $26 $128 $1,456 $121
Yukon SLT 4WD $340 $574 $424 $26 $128 $1,492 $124
Yukon Denali 2WD $340 $676 $424 $26 $128 $1,594 $133
Yukon Denali 4WD $340 $676 $424 $26 $128 $1,594 $133
Yukon Hybrid 2WD $340 $778 $480 $28 $144 $1,770 $148
Yukon Hybrid 4WD $340 $778 $480 $28 $144 $1,770 $148
Yukon Hybrid Denali 2WD $374 $880 $480 $28 $144 $1,906 $159
Yukon Hybrid Denali 4WD $374 $880 $480 $28 $144 $1,906 $159
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Data rating is based on single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Rates do not factor in Lexington location which can decrease or increase price quotes noticeably.

Deductible analysis

One of the hardest decisions when shopping for car insurance is which deductible level should you buy. The data tables below can help you visualize how much more rates are when you select higher and lower policy deductibles. The first set of rates uses a $100 deductible for comp and collision and the second rate table uses a $500 deductible.

GMC Yukon insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Yukon 2WD $318 $508 $326 $20 $98 $1,295 $108
Yukon SLE 2WD $318 $508 $326 $20 $98 $1,295 $108
Yukon 4WD $318 $508 $326 $20 $98 $1,295 $108
Yukon SLE 4WD $318 $508 $326 $20 $98 $1,295 $108
Yukon SLT 2WD $318 $508 $326 $20 $98 $1,295 $108
Yukon SLT 4WD $354 $508 $326 $20 $98 $1,331 $111
Yukon Denali 2WD $354 $598 $326 $20 $98 $1,421 $118
Yukon Denali 4WD $354 $598 $326 $20 $98 $1,421 $118
Yukon Hybrid 2WD $354 $688 $368 $22 $110 $1,567 $131
Yukon Hybrid 4WD $354 $688 $368 $22 $110 $1,567 $131
Yukon Hybrid Denali 2WD $390 $778 $368 $22 $110 $1,693 $141
Yukon Hybrid Denali 4WD $390 $778 $368 $22 $110 $1,693 $141
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GMC Yukon insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Yukon 2WD $232 $342 $326 $20 $98 $1,018 $85
Yukon SLE 2WD $232 $342 $326 $20 $98 $1,018 $85
Yukon 4WD $232 $342 $326 $20 $98 $1,018 $85
Yukon SLE 4WD $232 $342 $326 $20 $98 $1,018 $85
Yukon SLT 2WD $232 $342 $326 $20 $98 $1,018 $85
Yukon SLT 4WD $258 $342 $326 $20 $98 $1,044 $87
Yukon Denali 2WD $258 $404 $326 $20 $98 $1,106 $92
Yukon Denali 4WD $258 $404 $326 $20 $98 $1,106 $92
Yukon Hybrid 2WD $258 $466 $368 $22 $110 $1,224 $102
Yukon Hybrid 4WD $258 $466 $368 $22 $110 $1,224 $102
Yukon Hybrid Denali 2WD $284 $526 $368 $22 $110 $1,310 $109
Yukon Hybrid Denali 4WD $284 $526 $368 $22 $110 $1,310 $109
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Prices do not factor in garaging location in Lexington which can raise or lower auto insurance rates significantly.

Based on the figures above, using a $100 deductible will cost you roughly $26 more each month or $312 a year than choosing the higher $500 deductible. Because you would pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you have at least 15 months between claims, you would come out ahead by selecting a higher deductible.

How to calculate if a higher deductible is a good decision

Average monthly premium for $100 deductibles: $119
Average monthly premium for $500 deductibles (subtract): – $93
Monthly savings from raising deductible: $26
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $26
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 15 months

One thing to be aware of is that raising deductibles results in a higher out-of-pocket expense at claim time. That will necessitate some extra savings in order to pay more for the deductible.

GMC Yukon liability-only versus full coverage

The example below illustrates the comparison of GMC Yukon car insurance costs with full coverage and liability only. The rates are based on no accidents or driving violations, $250 deductibles, drivers are single, and no policy discounts are applied.

Guidelines for eliminating full coverage

There is no definitive guideline to eliminate physical damage coverage, but there is a general guideline. If the annual cost of coverage is about 10% or more of the replacement cost minus the deductible, then you might want to think about dropping full coverage.

For example, let’s assume your GMC Yukon replacement cost is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $5,000 after the deductible is paid. If you are paying in excess of $500 a year for comprehensive and collision coverage, then it might be time to buy liability only.

There are some circumstances where buying only liability insurance is not a good idea. If you still owe money on your vehicle, you have to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should not remove full coverage.

Reduce Insurance Rates with These Tips

Many factors are used when you quote your car insurance policy. Some factors are common sense like an MVR report, but others are less obvious such as your credit history or how safe your car is. The best way to find cheaper auto insurance is to take a look at the rating factors that help calculate the level of your policy premiums. If you have some idea of what impacts premium levels, this empowers consumers to make smart changes that will entitle you to cheaper rates.

The following are a few of the things that factor into your prices.

Continuous coverage saves money – Having a lapse in insurance coverage is a fast way to increase your rates. Not only will you pay more, getting caught without coverage may earn you a steep fine or even jail time.

Liability insurance risk factors – Liability coverage is the protection if ever you are determined to be liable for personal injury or accident damage. It provides legal defense coverage which can cost a lot. Carrying liability coverage is mandatory and cheap compared to comp and collision, so drivers should buy more than the minimum limits required by law.

Annual miles is a factor – Driving a lot of miles each year the more you’ll pay to insure it. Many insurance companies apply a rate based upon how you use the vehicle. Cars used primarily for pleasure use can be on a lower rate level than cars that get driven a lot. Having an incorrect usage rating on your Yukon is just wasting money. It’s a good idea to make sure your policy shows annual mileage, because improper ratings can cost you money.

Teenagers are high risk – Inexperience drivers are statistically proven to be careless and easily distracted when driving so they pay higher auto insurance rates. More mature drivers are viewed as being more responsible, file fewer claims, and are safer drivers.

The following data uses these variables: single driver, full coverage with $500 deductibles, and no discounts or violations.

Extra coverages can add up – There are a lot of extra bells and whistles that can waste your money if you aren’t diligent. Add-on coverages like replacement cost coverage, towing, and term life insurance could be just wasting money. These may sound like a good investment when talking to your agent, but if you’ve never needed them in the past consider taking them off your policy.

Insurance losses for a GMC Yukon – Insurance companies include the past claim history for a vehicle to calculate a rate that will offset any claims. Models that have higher prevalence or dollar amount of losses will have higher rates.

The next table illustrates the historical loss data for GMC Yukon vehicles. For each policy coverage, the loss probability for all vehicles, as a total average, is a value of 100. Values under 100 suggest a better than average loss history, while numbers above 100 show a trend for more claims or a tendency for losses to be larger than average.

GMC Yukon Insurance Claim Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
GMC Yukon 4dr 2WD 86 96 112 66
GMC Yukon 4dr 4WD 86 89 117 63 61 69
GMC Yukon XL 1500 4dr 2WD 111 99 137
GMC Yukon XL 1500 4dr 4WD 104 126 128 59

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Are insurance agents of importance?

A small number of people just want to visit with an insurance agent and that is recommended in a lot of cases Most agents can answer important questions and help in the event of a claim. One of the benefits of getting free rate quotes online is that you can find lower prices but still work with a licensed agent. And supporting neighborhood agents is especially important in Lexington.

To help locate an agent, after submitting this simple form, your information is emailed to local insurance agents in Lexington that give free quotes for your insurance coverage. There is no need to find an agent due to the fact that quote results will go to the email address you provide. If you need to get a comparison quote from a particular provider, you would need to navigate to their website and complete a quote there.

The difference between Lexington car insurance agents

If you want local Lexington agents, there are a couple of types of insurance agents to choose from. Agents in Lexington are classified as either exclusive or independent. Both can handle auto insurance, but it’s worth mentioning the subtle differences because it can impact the selection process.

Independent Auto Insurance Agencies

Independent agencies can quote rates with many companies and that gives them the ability to insure with multiple insurance companies and find the cheapest rate. If they quote lower rates, your agent can switch companies which is easy for the insured. When comparing rates, we recommend you include rate quotes from several independent agencies so that you can do a thorough price comparison. They often place coverage with companies you’ve never heard of that may have much lower rates than larger companies.

Below are independent agencies in Lexington that can possibly get you cheap rate quotes.

More insurance agents

Exclusive Insurance Agencies

Agents of this type work for only one company and examples are Allstate, State Farm and Farm Bureau. They are unable to compare rates from other companies so you need to shop around if the rates are high. They are very knowledgeable on their company’s products which helps them sell on service rather than price. Some consumers prefer to buy from exclusive agents mostly because of the prominence of the brand instead of buying on price only.

The following is a list of exclusive insurance agencies in Lexington willing to provide rate quotes.

More insurance agents

Picking the best insurance agency shouldn’t rely on just the price. Here are some questions to ask:

After talking to the agent and getting positive responses to all your questions as well as cheap Yukon insurance quotes, most likely you have located an insurance agency that meets your needs to provide auto insurance coverage. Keep in mind you can always cancel your coverage whenever you want so never feel you’re contractually obligated to a policy indefinitely.

Your situation helps dictate your coverage

When selecting coverage for your personal vehicles, there really is no “perfect” insurance plan. You are unique.Higher deductibles save money

For instance, these questions could help you determine whether or not you might need professional guidance.

If you can’t answer these questions, you may need to chat with a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form. It is quick, free and may give you better protection.

Find cheaper rates by comparing often

Insureds switch companies for many reasons like delays in paying claims, delays in responding to claim requests, policy cancellation and policy non-renewal. It doesn’t matter why you want to switch switching companies can be less work than you think.

We’ve covered a lot of tips how to compare GMC Yukon insurance premium rates in Lexington. It’s most important to understand that the more rate comparisons you have, the better your chances of lowering your prices. Drivers may even discover the biggest savings come from a small mutual company.

When shopping online for insurance, it’s not a good idea to sacrifice coverage to reduce premiums. In many cases, an insured dropped comprehensive coverage or liability limits and discovered at claim time that the small savings ended up costing them much more. Your goal should be to buy enough coverage for the lowest price and still be able to protect your assets.

How to buy affordable GMC Yukon insurance in Lexington

Truthfully, the best way to get cheaper auto insurance rates in Lexington is to do an annual price comparison from providers who sell insurance in Kentucky.

  1. Read and learn about how companies price auto insurance and the things you can control to prevent rate increases. Many things that drive up the price like multiple speeding tickets and poor credit can be controlled by improving your driving habits or financial responsibility.
  2. Compare prices from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only provide price estimates from a single company like GEICO and Allstate, while agents who are independent can provide price quotes from multiple companies.
  3. Compare the new quotes to your current policy premium and see if you can save money. If you find a better price and switch companies, make sure there is no coverage gap between policies.
  4. Notify your current company to cancel your current coverage and submit payment and a completed application to the new insurer. Immediately upon receiving it, place your new certificate of insurance in an easily accessible location.

A crucial key to this process is to try to compare the same deductibles and limits on every quote and and to get price quotes from as many different insurance providers as possible. This enables a fair rate comparison and a complete rate analysis.

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