Save on GMC Sierra Insurance in Memphis

It’s safe to conclude that insurance companies want to keep your business as long as possible. Consumers who shop around once a year are likely to switch to a new company because there is a good chance of finding good coverage at a lower price. A recent study showed that consumers who made a habit of comparing rate quotes saved $3,450 over four years compared to other drivers who never shopped for cheaper rates.

If finding discount rates on auto insurance is your intention, then having an understanding of how to get rate quotes and compare car insurance can save time and money.

The recommended way to find affordable quotes for auto insurance rates in Memphis is to start doing a yearly price comparison from providers who sell auto insurance in Tennessee.

Step 1: Try to comprehend individual coverages and the things you can change to drop your rates. Many factors that result in higher prices like traffic tickets, fender benders, and a substandard credit score can be improved by making minor changes to your lifestyle.

Step 2: Compare prices from direct, independent, and exclusive agents. Exclusive agents and direct companies can provide rates from a single company like Progressive or Allstate, while independent agencies can quote rates from multiple insurance companies. View companies

Step 3: Compare the quotes to your current policy premium to see if a cheaper rate is available in Memphis. If you find a lower rate quote and buy the policy, ensure there is no coverage lapse between policies.

Step 4: Provide adequate notice to your current company of your intent to cancel your current auto insurance policy. Submit a down payment along with a completed application for your new coverage. Once the application is submitted, store the proof of insurance certificate in your glove compartment.

A good tip to remember is that you’ll want to compare the same coverage limits and deductibles on every quote request and and to get prices from every insurance company. Doing this provides the most accurate price comparison and the most accurate and complete price analysis.

Buying the cheapest insurance in Memphis can really be easy if you know what you’re doing. If you’re already insured, you should be able to lower your rates using these techniques. But Tennessee car owners need to learn how insurance companies determine how much to charge and take advantage of how the system works.

What Affects GMC Sierra Insurance Rates?

Lots of things are part of the equation when premium rates are determined. Some factors are common sense such as your driving record, although others are more transparent such as your credit history or how safe your car is.

The factors shown below are some of the major factors utilized by car insurance companies to help set your prices.

• No auto insurance gaps is important – Allowing your auto insurance policy to lapse will be a quick way to bump up your auto insurance costs. Not only will you pay higher rates, the inability to provide proof of insurance may earn you a hefty fine and possibly a revoked license.

• Auto insurance rates and age – Teenage drivers in Tennessee are known to be careless and easily distracted when at the wheel of a vehicle and because of this, their auto insurance rates are much higher. If you’ve ever had to add a teenage driver onto your auto insurance can be quite pricey. Older people are proven to be safer behind the wheel, file fewer claims, and usually have better credit.

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

• Remove unneeded add-on coverages – Insurance policies have a lot of optional add-on coverages that can add up but may not be useful. Coverages like roadside assistance, death and dismemberment, and extra life insurance coverage are probably not needed. They may seem good when buying your policy, but your money might be better spent on other coverage so eliminate them to save money.
• Alarm systems save money – Choosing a vehicle with anti-theft technology or alarm system can save you some money. Theft prevention devices like vehicle immobilizer systems, OnStar, and tracking devices like LoJack help track and prevent auto theft.
• Certain employers pay higher rates – Occupational choices like military generals, police officers, and emergency personnel tend to have higher average rates in part from intense work-related stress and incredibly demanding work hours. On the other hand, occupations like scientists, students and retirees pay the least.
• Rural areas have lower rates – Residing in smaller towns and rural areas of the country has it’s advantages when insuring your vehicles. Fewer drivers means reduced accidents as well as less vandalism and auto theft. City drivers have traffic congestion and a longer drive to work. More time commuting means higher likelihood of an accident.
• Buy a safe car and pay less – Cars with high safety ratings cost less to insure. Safer cars reduce occupant injuries and any reduction in injury severity translates into fewer and smaller insurance claims and cheaper rates on your policy. If the GMC Sierra scored at minimum four stars on Safercar.gov you may pay a lower rate.

• GMC Sierra statistical loss data – Insurers factor in insurance loss information when they calculate premium costs for each model. Vehicles that statistically have a trend towards higher claims will cost more to insure. The table below illustrates the historical loss data for GMC Sierra vehicles.

  For each coverage type, the loss probability for all vehicles compiled together is equal to 100. Values that are below 100 imply a favorable loss record, while numbers that are greater than 100 indicate more frequent claims or an increased chance of a larger loss.

  
  

  GMC Sierra Insurance Loss Statistics

  Vehicle Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  GMC Sierra 1500 2WD	89	122	106
  GMC Sierra 1500 4WD	97	86	79
  GMC Sierra 1500 Crew Cab 2WD	87	99	132	69	69	89
  GMC Sierra 1500 Crew Cab 4WD	89	102	114	52	51	73
  GMC Sierra 1500 Ext Cab 2WD	98	109	96	70
  GMC Sierra 1500 Ext Cab 4WD	78	85	89	65	56	94
  GMC Sierra 2500 4WD	70		56
  GMC Sierra 2500 Crew Cab 2WD	63		101
  GMC Sierra 2500 Crew Cab 4WD	91	118	105	43	50	90
  GMC Sierra 2500 Ext Cab 4WD	67	108	85	40
  GMC Sierra 3500 Crew Cab 4WD	85	128	121	35

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Statistics from IIHS.org for 2013-2015 Model Years

Data for GMC Sierra insurance

The information displayed next showcases a range of insurance costs for GMC Sierra models. Learning as much as possible about how auto insurance prices are established can be of help when making decisions when choosing a new policy provider.

Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Rate information does not factor in specific garaging location which can affect premiums substantially.

Deductible comparison

One of the most common car insurance questions is the level to set your comp and collision deductibles. The comparison tables below can help you understand the rate fluctuation when you buy lower versus higher physical damage coverage deductibles. The first rate table uses a $100 deductible for physical damage and the second rate table uses a $1,000 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Price estimates do not factor in specific zip code location which can decrease or increase insurance rates significantly.

Based on the above data, using a $100 deductible could cost the average driver approximately $33 more each month or $396 for a full year than quoting the higher $1,000 deductible. Because you would pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you have at least 27 months between claim filings, you would more than likely save some money by going with a higher deductible.

How careless driving impacts Memphis car insurance rates

The illustration below illustrates how speeding tickets and accidents can influence GMC Sierra auto insurance costs for each different age category. The premiums are based on a single female driver, comp and collision included, $1,000 deductibles, and no discounts are taken into consideration.

Gender-based car insurance rates by age in Memphis

The illustration below shows the difference between GMC Sierra auto insurance rates for male and female drivers. The prices are based on no driving violations, no at-fault accidents, full coverage, $1,000 deductibles, drivers are single, and no policy discounts are applied.

Get cheaper rates on GMC Sierra insurance in Memphis with these discounts

Insurance can be prohibitively expensive, but you might find some hidden discounts that you may not even be aware of. Many of these discounts will be applied automatically when you get a quote, but once in a while a discount must be specially asked for before they will apply.

• Active Military Service – Having a family member in the military could qualify you for better prices.
• No Charge for an Accident – This one isn’t a discount, but companies like GEICO, State Farm, and Progressive may permit one accident without the usual rate increase as long as you don’t have any claims for a particular time prior to the accident.
• Fewer Miles Equal More Savings – Driving less could earn better rates on cars that stay parked.
• Discounts for Responsible Drivers – Drivers without accidents can save as much as half off their rates compared to rates paid by drivers with frequent claims.
• Accident Free – Claim-free drivers are rewarded with significantly better rates on Memphis auto insurance quote in comparison with policyholders that have many claims.
• Theft Deterrent Discount – Vehicles equipped with tracking devices and advanced anti-theft systems help deter theft and that can save you a little bit as well.
• College Student Discount – College-age children who are enrolled in higher education away from home and don’t have a car can be insured at a reduced rate.

Please keep in mind that most credits do not apply to your bottom line cost. Most only reduce the cost of specific coverages such as liability and collision coverage. So when the math indicates all those discounts means the company will pay you, you’re out of luck.

The chart below compares GMC Sierra insurance costs with and without some available policy discounts. The premium estimates are based on a male driver, no violations or accidents, Tennessee state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, homeowner, marriage, multi-policy, safe-driver, and multi-car discounts applied.

Some companies that may offer quotes with some of the above discounts possibly include:

• State Farm
• GEICO
• Allstate
• SAFECO
• Farm Bureau
• Progressive
• AAA

When comparing rates, check with every prospective company the best way to save money. Some discounts may not apply in Memphis. To see a list of insurance companies that have a full spectrum of discounts in Tennessee, click here to view.

Best car insurance in Memphis

Ending up with a good quality auto insurance provider can be a challenge considering how many choices you have in Tennessee. The information listed below can help you choose which auto insurance companies to look at comparing rate quotes with.

Top 10 Memphis Car Insurance Companies by A.M. Best Rank

1. Travelers – A++
2. USAA – A++
3. GEICO – A++
4. State Farm – A++
5. Erie Insurance – A+
6. Titan Insurance – A+
7. Esurance – A+
8. Progressive – A+
9. Nationwide – A+
10. The Hartford – A+

Top 10 Memphis Car Insurance Companies Ranked by Customer Service

1. USAA
2. Travelers
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Safeco Insurance
7. Progressive
8. State Farm
9. The Hartford
10. The General

The best rates come from being thorough

When getting Memphis auto insurance quotes online, do not reduce needed coverages to save money. Too many times, an accident victim reduced physical damage coverage to discover at claim time that their decision to reduce coverage ended up costing them more. Your objective should be to purchase plenty of coverage at the best price, but don’t skip important coverages to save money.

Throughout this article, we presented many ideas to reduce GMC Sierra insurance prices online in Memphis. The key concept to understand is the more providers you compare, the higher your chance of finding low cost Memphis auto insurance quotes. Drivers may even discover the lowest prices come from a smaller regional carrier. They may often insure only within specific states and give better rates as compared to the big name companies such as State Farm or Progressive.

To read more, feel free to visit these articles:

• New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
• Who Has Cheap Car Insurance Rates for a Dodge Grand Caravan in Memphis? (FAQ)
• Who Has Affordable Auto Insurance Quotes for High Mileage Drivers in Memphis? (FAQ)
• Who Has Cheap Memphis Auto Insurance for Homeowners? (FAQ)
• Who Has the Cheapest Auto Insurance Quotes for a Subaru Outback in Memphis? (FAQ)
• Who Has Affordable Car Insurance for Lyft Drivers in Memphis? (FAQ)
• Who Has Cheap Memphis Car Insurance for a Nissan Rogue? (FAQ)
• What is Full Coverage? (Allstate)
• Rental Car Insurance Tips (Insurance Information Institute)
• Teen Driving and Texting (State Farm)
• Teen Driving Statistics (iihs.org)