Cheapest 1993 GMC Sierra 1500 Insurance Rates in 2023
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UPDATED: May 12, 2022
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Having to pay for overpriced insurance can empty your bank account and put a big crunch on your finances. Doing a price comparison is a great way to make sure you’re not throwing money away.
Having so many options when it comes to insurance, it is very difficult to choose the most affordable insurance company.
The method we recommend to compare rate quotes is to understand car insurance companies pay for the opportunity to give you rate quotes. To start a quote, the only thing you need to do is provide a little information including your education level, if the car is leased, if it has an anti-theft system, and whether you drive to work or school. Your rating data is automatically sent to many different companies and you will receive price estimates with very little delay.
To compare multiple company rates now, click here then complete the form.
How to reduce 1993 GMC Sierra 1500 insurance rates
Car insurance companies don’t always publicize every available discount very well, so we researched some of the best known and the harder-to-find discounts you could be receiving.
- Auto/Home Discount – If you insure your home and vehicles with one insurance company you will save at least 10% off all policies.
- Military Discounts – Having a deployed family member can result in better rates.
- Low Mileage – Fewer annual miles on your GMC can earn a substantially lower rate.
- College Student – Any of your kids living away from home attending college and do not have a car may qualify for this discount.
- Homeowners Savings – Simply owning a home can help you save on car insurance due to the fact that maintaining a home is proof that your finances are in order.
- More Vehicles More Savings – Insuring multiple cars or trucks on one policy can get a discount on all vehicles.
- One Accident Forgiven – Certain companies allow you one accident before hitting you with a surcharge if you are claim-free prior to the accident.
- Life Insurance – Larger companies have a discount if you purchase life insurance from them.
Keep in mind that some credits don’t apply to the overall cost of the policy. Most only reduce specific coverage prices like comprehensive or collision. So when the math indicates adding up those discounts means a free policy, you’re out of luck.
A partial list of companies that may offer these money-saving discounts include:
- American Family
- 21st Century
- Farmers Insurance
Check with each insurance company which discounts they offer. Savings might not apply everywhere.
Elements that influence GMC Sierra 1500 insurance rates
Smart consumers have a good feel for the factors that help determine your insurance rates. Understanding what determines base rates allows you to make educated decisions that will entitle you to better insurance rates.
The following are a partial list of the pieces companies use to determine prices.
- Your job and insurance rates – Occupations like judges, executives and financial analysts tend to pay higher average rates attributed to high stress levels and long work hours. Conversely, occupations such as farmers, engineers and the unemployed have the lowest average rates on Sierra coverage.
- More miles equals more premium – Driving more miles each year the more you’ll pay to insure your vehicle. Most companies apply a rate based upon how you use the vehicle. Cars and trucks left parked in the garage receive lower rates compared to those used for work or business. Make sure your insurance coverage shows the proper vehicle usage, because improper ratings can cost you money. Incorrect usage on your Sierra 1500 may be costing you.
- Keep rates low by being claim-free – If you tend to file frequent claims, you can look forward to either policy cancellation or increased premiums. Companies provide discounts to insureds who are claim-free. Your insurance policy is meant to be used in the event of larger claims.
- Credit scores impact insurance rates – Your credit rating is a important factor in determining what you pay for insurance. Consumers who have high credit ratings tend to be less risk to insure than drivers who have lower credit scores. So if your credit history can use some improvement, you could potentially save money when insuring your 1993 GMC Sierra 1500 by improving your rating.
Tailor your coverage to you
When buying the right insurance coverage, there isn’t really a perfect coverage plan. Coverage needs to be tailored to your specific needs so your insurance should reflect that For instance, these questions might help in determining whether your personal situation might need an agent’s assistance.
- How high should my uninsured/underinsured coverage be in my state?
- Are my friends covered when driving my car?
- Are rental cars covered under my policy?
- Is my business laptop covered if it gets stolen from my vehicle?
- Does my policy cover my teen driver if they drive my company car?
- Does my 1993 GMC Sierra 1500 qualify for pleasure use?
If it’s difficult to answer those questions, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, take a second and complete this form or you can go here for a list of companies in your area.
The car insurance bait and switch
Companies like Allstate, GEICO and Progressive consistently run ads on TV and radio. All the ads say the same thing of big savings if you change to their company. How does each company say the same thing? It’s all in the numbers.
Different companies have a preferred profile for the driver that earns them a profit. For instance, a desirable insured might be over the age of 50, is a homeowner, and drives less than 7,500 miles a year. A customer getting a price quote who matches those parameters gets the lowest rates and most likely will save a lot of money.
Potential customers who are not a match for the “perfect” profile will be quoted more money and this can result in business going elsewhere. Company advertisements say “people who switch” but not “drivers who get quotes” save money. This is how insurance companies can confidently advertise the way they do. This emphasizes why drivers must get as many quotes as possible. It’s just too difficult to predict which company will fit your personal profile best.
Knowing the specifics of auto insurance helps when choosing the best coverages and the correct deductibles and limits. Auto insurance terms can be confusing and nobody wants to actually read their policy. These are typical coverages available from auto insurance companies.
Liability auto insurance
This will cover damage or injury you incur to other’s property or people by causing an accident. It protects YOU from claims by other people, 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 injured, bodily injury for the entire accident and a property damage limit. You might see liability limits of 25/50/25 which stand for a $25,000 limit per person for injuries, a total of $50,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.
Liability coverage protects against claims like attorney fees, emergency aid and court costs. How much liability coverage do you need? That is a personal decision, but buy higher limits if possible.
Coverage for medical payments
Med pay and PIP coverage reimburse you for immediate expenses such as hospital visits, nursing services, surgery, pain medications and prosthetic devices. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers you and your occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage
Comprehensive insurance will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage protects against things like damage from getting keyed, hail damage, a tree branch falling on your vehicle, hitting a deer and vandalism. The maximum payout you’ll receive from a claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Collision insurance pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You have to pay a deductible then your collision coverage will kick in.
Collision insurance covers things such as backing into a parked car, damaging your car on a curb, colliding with a tree, hitting a mailbox and hitting a parking meter. This coverage can be expensive, so consider dropping it from vehicles that are older. You can also raise the deductible to bring the cost down.
Uninsured and underinsured coverage
Uninsured or Underinsured Motorist coverage gives you protection from other drivers when they either are underinsured or have no liability coverage at all. Covered losses include injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Due to the fact that many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is a good idea.
Do the work, save more money
Cost effective 1993 GMC Sierra 1500 insurance can be sourced online as well as from independent agents, so compare prices from both so you have a total pricing picture. Some insurance companies don’t offer online price quotes and usually these regional insurance providers provide coverage only through local independent agents.
We just covered some good ideas how you can shop for insurance online. The most important thing to understand is the more quotes you get, the more likely it is that you will get a better rate. You may even discover the lowest premiums are with a smaller regional carrier. Regional companies can often provide lower rates in certain areas than their larger competitors like Progressive and GEICO.
More detailed insurance coverage information can be found by following these links:
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Five Steps to Filing an Auto Insurance Claim (Insurance Information Insitute)
- Keeping Children Safe in Crashes Video (iihs.org)
- Choosing an Insurance Company (Insurance Information Insitute)
- Distracted Driving Statistics (Insurance Information Insitute)
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