Compare 2003 GMC Sierra 1500 Car Insurance Quotes

I doubt anyone rejoices having to buy car insurance, especially when the price is too high.

Popular companies such as Progressive, State Farm and GEICO constantly bombard you with fancy advertisements and it is challenging if not impossible to sift through the bull and find the best price available.

It’s a great practice to do price comparisons quite often due to the fact that insurance prices are usually higher with each renewal. Just because you found the lowest price on Sierra insurance at your last renewal you may be paying too much now. Ignore everything you know about car insurance because you’re about to find out the right way to buy cheaper car insurance.

If you currently have car insurance, you stand a good chance to be able to save some money using this information. Finding the best rates is easy if you know what you’re doing. But vehicle owners should learn the methods companies use to price insurance differently and take advantage of how the system works.

Do you qualify for discounts?

The cost of insuring your cars can be expensive, but you may qualify for discounts that can dramatically reduce your bill. Many of these discounts will be applied automatically when you purchase, but a few need to be asked for before being credited.

  • Seat Belt Usage – Drivers who always wear seat belts and also require passengers to buckle up before driving could cut 10% or more off PIP or medical payments premium.
  • Telematics Data Discounts – People who choose to allow companies to monitor their driving habits remotely like Allstate’s Drivewise might get better premium rates if they exhibit good driving behavior.
  • Multi-policy Discount – If you have multiple policies and insure them both with the same insurance company you will save at least 10 to 15 percent or more.
  • Smart Student Discounts – Excelling in school may save you up to 25%. Many companies even apply the discount to college students up until you turn 25.
  • Savings for New Vehicles – Adding a new car to your policy can get you a discount since new model year vehicles have better safety ratings.
  • Switch and Save Discount – Some auto insurance companies provide a discount for switching to them prior to your current policy expiration. You could save around 10% when you buy auto insurance online.
  • Accident Forgiveness – Not really a discount, but companies like Allstate and GEICO will turn a blind eye to one accident before hitting you with a surcharge with the catch being you have to be claim-free for a specific time period.
  • Discounts for Safe Drivers – Drivers without accidents could pay up to 40% less on Sierra insurance than drivers with accidents.
  • Discount for Life Insurance – Insurance companies who offer life insurance give better prices if you take out a life policy as well.
  • Senior Citizen Rates – If you’re over the age of 55, you may qualify for reduced rates on Sierra insurance.

Discounts save money, but please remember that most credits do not apply to your bottom line cost. Most only apply to the price of certain insurance coverages like comp or med pay. So even though it sounds like you would end up receiving a 100% discount, companies wouldn’t make money that way.

To view insurance companies that offer multiple discounts, click here.

Lower your insurance premiums

Many different elements are part of the equation when you get your auto insurance bill. Some are obvious such as your driving history, but others are not quite as obvious such as your marital status or how financially stable you are.Part of the insurance coverage buying process is learning a few of the rating criteria that go into determining your insurance coverage rates. If you understand what determines premiums, this allows you to make good choices that could result in lower premium levels.

Shown below are some of the most rate-impacting factors used by your company to calculate rates.

  • Better insurance coverage rates on safer vehicles – Vehicles with high crash test scores cost less to insure. Safe vehicles result in less severe injuries and any reduction in injury severity means less money paid by your insurance company and more competitive rates for policyholders.
  • Incidental coverages push up prices – There are a lot of extra add-on coverages that sound like a good idea at the time if you don’t pay attention. Coverages for vanishing deductibles, towing coverage, and term life insurance could be just wasting money. You may think they are a good idea when you first buy your policy, but if you have no use for them think about removing them and cutting costs.
  • Liability protection is peace of mind – The liability coverage on your policy provides coverage when a jury decides you are liable for damages caused by your negligence. This coverage provides legal defense to attempt to prove you were not liable. This coverage is relatively inexpensive as compared to coverage for physical damage, so drivers should buy more than the minimum limits required by law.
  • Prevent coverage lapses – Driving any period of time without insurance can get your license suspended and as a result your rates will increase for letting your coverage have a gap. Not only will rates go up, being ticketed for driving with no insurance may result in fines and jail time.
  • Higher insurance coverage rates for demanding occupations – Do you work in a high-stress field? Careers such as military personnelpolice officers and stock brokers generally pay higher premiums than the average policyholder in part from intense work-related stress and lots of time spent at work. Other careers such as farmers, athletes and homemakers generally pay rates lower than average on Sierra insurance.
  • Male prices may be higher – Statistics have proven that females take fewer risks when driving. It does not mean men are WORSE drivers than women. Both genders are in accidents at a similar rate, but males cause more damage and cost insurance companies more money. Men also receive more major tickets such as driving while intoxicated (DWI) or driving recklessly.
  • Pay more by driving carelessly – Attentive drivers pay less for auto insurance than people who have multiple driving citations. Having a single ticket can boost insurance rates to the point where it’s not affordable. Drivers unfortunate enough to have flagrant citations like DWI, reckless driving or hit and run convictions may face state-mandated requirements to file a SR-22 with their state’s department of motor vehicles in order to drive a vehicle legally.

Don’t assume everyone needs the same car insurance coverage

When it comes to buying the best car insurance coverage for your vehicles, there isn’t really a single plan that fits everyone. Every situation is different and a cookie cutter policy won’t apply. These are some specific questions can aid in determining whether your personal situation may require specific advice.

  • Does having multiple vehicles earn me a discount?
  • Am I covered by my employer’s commercial auto policy when driving my personal car for business?
  • Am I covered when delivering products for my home-based business?
  • Can I afford to pay high deductible claims out of pocket?
  • Do all my vehicles need collision coverage?
  • Which is better, split liability limits or combined limits?
  • Why do I need rental car insurance?
  • Is extra glass coverage worth it?
  • Is my ex-spouse still covered by my policy?
  • Do I need to file an SR-22 for a DUI in my state?

If it’s difficult to answer those questions, you might consider talking to a licensed insurance agent. If you don’t have a local agent, complete this form or you can go here for a list of companies in your area.

Auto insurance coverage information

Knowing the specifics of your insurance policy can be of help when determining appropriate coverage at the best deductibles and correct limits. Policy terminology can be difficult to understand and even agents have difficulty translating policy wording. These are the usual coverages found on the average insurance policy.

Uninsured Motorist or Underinsured Motorist insurance

Your UM/UIM coverage protects you and your vehicle from other motorists when they are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries and damage to your GMC Sierra 1500.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Normally these limits are similar to your liability insurance amounts.

Coverage for collisions

Collision coverage will pay to fix damage to your Sierra 1500 resulting from colliding with another car or object. You have to pay a deductible then your collision coverage will kick in.

Collision can pay for things like rolling your car, sustaining damage from a pot hole and sideswiping another vehicle. Collision coverage makes up a good portion of your premium, so you might think about dropping it from lower value vehicles. Drivers also have the option to increase the deductible in order to get cheaper collision rates.

Insurance for medical payments

Medical payments and Personal Injury Protection insurance kick in for expenses like pain medications, ambulance fees, X-ray expenses and EMT expenses. They are used to fill the gap from your health insurance program or if you are not covered by health insurance. They cover you and your occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is only offered in select states but can be used in place of medical payments coverage

Comprehensive coverage (or Other than Collision)

Comprehensive insurance coverage will pay to fix damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for claims such as damage from getting keyed, falling objects, damage from flooding, rock chips in glass and vandalism. The highest amount your insurance company will pay is the ACV or actual cash value, so if the vehicle is not worth much consider removing comprehensive coverage.

Liability

This coverage will cover damages or injuries you inflict on other people or property that is your fault. This insurance protects YOU from legal claims by others, and does not provide coverage for your own vehicle damage or injuries.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show values of 50/100/50 that translate to $50,000 in coverage for each person’s injuries, a per accident bodily injury limit of $100,000, and a total limit of $50,000 for damage to vehicles and property. Alternatively, you may have one limit called combined single limit (CSL) which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for claims such as medical services, loss of income and emergency aid. How much liability should you purchase? That is a personal decision, but you should buy higher limits if possible.

Be Smart and Buy Smart

As you restructure your insurance plan, do not buy lower coverage limits just to save a few bucks. There have been many situations where someone sacrificed collision coverage only to regret that the small savings ended up costing them much more. The proper strategy is to find the BEST coverage at an affordable rate, but do not sacrifice coverage to save money.

You just read a lot of ways to lower your 2003 GMC Sierra 1500 insurance premium rates. It’s most important to understand that the more you quote auto insurance, the better chance you’ll have of finding cheaper auto insurance. You may even discover the lowest priced insurance coverage comes from some of the smallest insurance companies. These smaller insurers may have significantly lower prices on certain market segments than the large multi-state companies such as State Farm and Allstate.

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