How to Compare Denver GMC Canyon Insurance

Are you researching more competitive GMC Canyon insurance in Denver? There isn’t anyone who looks forward to paying premiums for insurance, especially knowing the cost is too high.

Unbelievably, over 70% of consumers have stayed with the same insurance company for at least four years, and just under half have never even compared quotes to find lower-cost rates. American drivers can save up to 47% each year by just comparing quotes, but they just assume it takes a lot of time to shop their coverage around.

Companies like Allstate, Liberty Mutual and State Farm constantly bombard you with advertising and it is difficult to ignore the promise of big savings and do the work needed to find the best deal.

It’s a good habit to get comparison quotes periodically due to the fact that insurance prices change frequently. Even if you got the best rates on GMC Canyon insurance in Denver on your last policy there may be better deals available now. Forget all the misinformation about insurance because I’m going to teach you one of the best ways to properly buy coverages and cut your premium.

The easiest way to compare car insurance rates for GMC Canyon insurance in Denver utilizes the fact all the major auto insurance companies participate in a system to provide you with a free rate quote. To begin a comparison, all you need to do is provide information including your credit rating estimate, if you have an active license, types of safety features, and how much you drive. That information is automatically sent to multiple top-rated companies and you will get price comparisons quickly.

If you wish to get multiple quotes for your GMC Canyon now, click here and enter your coverage details.

The providers in the list below are ready to provide price comparisons in Colorado. If several companies are displayed, we suggest you compare several of them to get the lowest price.

Data rating is based on married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Information does not factor in the specific area where the vehicle is garaged which can raise or lower insurance rates significantly.

Liability only or full coverage

The illustration below examines GMC Canyon insurance costs with full coverage compared to only the Colorado minimum liability coverage. The price estimates are based on a clean driving record, no claims, $500 deductibles, married female driver, and no discounts are taken into consideration.

Deciding between full coverage and liability only

There is no definitive formula to stop buying physical damage coverage, but there is a general guideline. If the yearly cost of full coverage is about 10% or more of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let’s assume your GMC Canyon settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after paying your deductible. If it’s costing you more than $300 annually for physical damage coverage, then you might want to consider buying only liability coverage.

There are a few cases where removing full coverage is not recommended. If you have an outstanding loan on your vehicle, you have to carry 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 totaled, you should not opt for liability only.

Auto insurance is an important decision

Even though Denver Canyon insurance rates can get expensive, paying for auto insurance may be mandatory for several reasons.

First, almost all states have minimum mandated liability insurance limits which means state laws require specific limits of liability in order to be legal. 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 Canyon has a lien holder, almost every bank will force you to have physical damage coverage to ensure loan repayment if the vehicle is totalled. If you cancel or allow the policy to lapse, the bank may buy a policy for your GMC for a lot more money and require you to fork over the higher premium.

Third, auto insurance preserves both your GMC Canyon and your personal assets. It also can pay for hospital and medical expenses for not only you but also any passengers injured in an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If your GMC gets damaged, your policy will cover the damage repairs after a deductible is paid.

The benefits of having auto insurance greatly outweigh the cost, particularly if you ever have a claim. The average driver in America is overpaying over $865 each year so it’s important to compare rates at every policy renewal to ensure rates are inline.

Cheaper rates with these nine discounts

Companies offering auto insurance don’t list all discounts very well, so we researched both the well known and also the more inconspicuous ways to save on car insurance.

• Pay Now and Pay Less – By paying your policy upfront rather than spreading payments over time you can avoid the installment charge.
• Paperwork-free – A few companies will provide an incentive for signing up over the internet.
• Discount for Life Insurance – Some insurance carriers give a lower rate if you buy a life policy as well.
• More Vehicles More Savings – Insuring all your vehicles on the same car insurance policy could earn a price break for each car.
• Anti-lock Brake System – Cars, trucks, and SUVs that have anti-lock braking systems have fewer accidents so you can save 10 percent or more.
• Driver Safety – Taking part in a safe driver course could cut 5% off your bill and also improve your driving technique.
• Telematics Data – Drivers that enable their company to study driving patterns by using a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system could save a few bucks as long as they are good drivers.
• Theft Deterrent Discount – Vehicles that have factory alarm systems and tracking devices have a lower chance of being stolen and will qualify for a discount on a Denver auto insurance quote.
• Good Student Discount – Excelling in school may save you up to 25%. The discount lasts up to age 25.

Discounts reduce rates, but you should keep in mind that most credits do not apply to your bottom line cost. The majority will only reduce specific coverage prices like collision or personal injury protection. If you do the math and it seems like all the discounts add up to a free policy, you aren’t that lucky.

For a list of providers who offer online GMC Canyon insurance quotes in Denver, follow this link.

What if I want to buy from local Denver car insurance agents?

Many people would rather get professional advice from a licensed agent and that can be a smart move A nice benefit of comparing rate quotes online is you may find better rates but also keep your business local.

Once you complete this form (opens in new window), the coverage information is transmitted to insurance agents in Denver who will give you quotes and help you find cheaper coverage. It makes it easy because there is no need to leave your computer because quoted prices will be sent to you. You can get cheaper car insurance rates without having to waste a lot of time. If for some reason you want to compare rates from a specific insurance company, you just need to find their quoting web page and give them your coverage information.

Choosing an company requires more thought than just the quoted price. Agents should be asked these questions:

• How experienced are they in personal risk management?
• Do they carry Errors and Omissions coverage?
• Are they primarily personal or commercial lines agents in Denver?
• Will their companies depreciate repairs to your car based on the mileage?
• Is every driver in your family covered?
• Can they help ensure a fair claim settlement?

Two different types of auto insurance agents

When looking for a local Denver insurance agency, it’s important to understand the different types of agents and how they can quote your rates. Car insurance policy providers can either be exclusive or independent agents depending on their company appointments.

Exclusive Insurance Agents

Exclusive agents can only place business with one company such as State Farm, Allstate, and Farm Bureau. They are unable to give you multiple price quotes so they have no alternatives for high prices. Exclusive agencies are trained well in insurance sales which helps them sell insurance even at higher premiums.

Listed below is a short list of exclusive insurance agencies in Denver who may provide you with price quotes.

More insurance agents

Independent Car Insurance Agencies

These agents can sell policies from many different companies so as a result can place your coverage with multiple insurance companies and help determine which has the cheapest rates. If prices rise, your agent can switch companies and you don’t have to find a new agent. When comparing rates, it’s recommended you get insurance quotes from independent agents to have the most options to choose from.

Listed below is a short list of independent agencies in Denver willing to provide rate quotes.

More insurance agents

After getting good feedback to your questions and an acceptable price quote, you may have just found an insurance agency that is reputable and can provide car insurance coverage.

Insurance policy specifics

Understanding the coverages of a insurance policy can help you determine appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be difficult to understand and even agents have difficulty translating policy wording. These are typical coverages found on the average insurance policy.

Comprehensive protection – This pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage protects against claims like hail damage, damage from flooding, hitting a deer, fire damage and falling objects. The maximum amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.

Collision coverages – Collision insurance pays for damage to your Canyon resulting from a collision with another car or object. You will need to pay your deductible then the remaining damage will be paid by your insurance company.

Collision can pay for things like sideswiping another vehicle, rolling your car, damaging your car on a curb and colliding with a tree. Collision coverage makes up a good portion of your premium, so you might think about dropping it from older vehicles. You can also increase the deductible on your Canyon to bring the cost down.

Medical expense coverage – Med pay and PIP coverage pay for bills like funeral costs, nursing services, hospital visits, ambulance fees and prosthetic devices. They are used to fill the gap from your health insurance policy or if you lack health insurance entirely. Coverage applies to not only the driver but also the vehicle occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is only offered in select states and gives slightly broader coverage than med pay

Liability coverages – Liability coverage will cover damage or injury you incur to people or other property by causing an accident. It protects you against claims from other people, and doesn’t cover your own vehicle damage or injuries.

Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 25/50/15 which stand for a limit of $25,000 per injured person, a limit of $50,000 in injury protection per accident, and property damage coverage for $15,000.

Liability insurance covers claims such as legal defense fees, repair costs for stationary objects, repair bills for other people’s vehicles and bail bonds. How much coverage you buy is a personal decision, but you should buy as much as you can afford. Colorado state law requires minimum liability limits of 25/50/15 but it’s recommended drivers buy higher limits.

Uninsured or underinsured coverage – Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. Covered claims include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Since a lot of drivers have only the minimum liability required by law (which is 25/50/15), it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

Quote. Compare. Save.

We just covered some good ideas how to lower your GMC Canyon insurance premium rates in Denver. The most important thing to understand is the more providers you compare, the more likely it is that you will get a better rate. You may even be surprised to find that the best price on auto insurance is with some of the lesser-known companies. These smaller insurers can often provide lower prices in certain areas as compared to the big name companies such as Allstate, GEICO and Progressive.

As you go through the steps to switch your coverage, it’s a bad idea to buy poor coverage just to save money. Too many times, an accident victim reduced full coverage and learned later that their decision to reduce coverage ended up costing them more. Your focus should be to get the best coverage possible at the best price while not skimping on critical coverages.

To read more, link through to these articles:

• What does Personal Injury Protection (PIP) Cover? (Allstate)
• Who Has the Cheapest Car Insurance Quotes for Police Officers in Denver? (FAQ)
• Who Has Cheap Auto Insurance Quotes for Hybrid Vehicles in Denver? (FAQ)
• What Insurance is Cheapest for Seniors in Denver? (FAQ)
• Who Has Affordable Denver Auto Insurance for a Ford Escape? (FAQ)
• Who Has Affordable Auto Insurance Quotes for Good Drivers in Denver? (FAQ)
• What Car Insurance is Cheapest for a 20 Year Old Male in Denver? (FAQ)
• Who Has the Cheapest Auto Insurance Quotes for a Hyundai Santa Fe in Denver? (FAQ)
• Neck Injury FAQ (iihs.org)
• Side Impact Crash Tests (iihs.org)