Cheapest 1995 GMC Sierra 1500 Insurance Rates in 2023
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UPDATED: Jun 1, 2023
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Having to pay for overpriced GMC Sierra 1500 insurance can take a big chunk out of your bank account and put a big crunch on your finances. Doing a price comparison is a smart way to help make ends meet. Having so many auto insurance companies to choose from, it can be challenging to choose the lowest cost car insurance company.
Factors determining your GMC Sierra 1500 insurance premium
An important part of buying insurance is that you know some of the elements that go into determining auto insurance rates. Understanding what determines base rates enables informed choices that may reward you with lower auto insurance prices.
Listed below are some of the items auto insurance companies consider when setting rates.
- Your credit rating is important – Having a bad credit score is a large factor in determining what you pay for auto insurance. Consumers who have high credit ratings tend to be less risk to insure than drivers who have lower ratings. So if your credit score is low, you could pay less to insure your 1995 GMC Sierra 1500 by improving your rating.
- Little extras can really add up – There are a ton of extra bells and whistles you can purchase when buying auto insurance. Things like rental car reimbursement, better glass coverage and term life insurance are some examples. These may sound like a good investment initially, but if they’re wasting money remove them from your policy.
- Pleasure use saves money – The more you drive every year the higher your rate. The majority of insurers apply a rate based on how the vehicle is used. Autos that are left in the garage get more affordable rates than those used for commuting. Verify your auto insurance policy properly reflects the correct driver usage. If your policy improperly rates your Sierra 1500 may be wasting your money.
- More than one policy can earn a discount – Many auto insurance companies provide better rates to customers who consolidate policies with them such as combining an auto and homeowners policy. Discounts can add up to ten or even up to twenty percent in some cases. If you currently are using one company, it’s in your best interest to shop around to verify if the discount is saving money.
- No coverage gaps is important – Driving without insurance is against the law and as a result your rates will increase for letting your insurance lapse. And not only will insurance be more expensive, getting caught without coverage might get you a license revocation or jail time.Then you may be required to provide proof of insurance in the form of an SR-22 filing with your state department of motor vehicles.
- Don’t skimp on liability – The liability section of your policy provides coverage if ever a jury decides you are liable for damages from an accident. Liability provides legal defense which can be incredibly expensive. This coverage is very inexpensive compared to insuring for physical damage coverage, so do not skimp.
- Sex matters – Statistics show women are more cautious behind the wheel. Now that doesn’t mean men are worse drivers. They both have accidents at about the same rate, but the men tend to have more serious accidents. Men also statistically receive more costly citations like DUI and reckless driving.
- Marriage brings a discount – Having a wife or husband can actually save you money on your policy. Having a spouse usually means you are more mature it has been statistically shown that drivers who are married are more cautious.
The best way we recommend to get policy rate comparisons is to understand all the major auto insurance companies participate in online systems to provide you with free rate quotes. All consumers are required to do is spend a couple of minutes providing details such as driver details, the make and model of your vehicles, level of coverage desired, and marital status. Your information is instantly sent to multiple different insurance companies and you receive quotes instantly to find the best rate.
Auto insurance ads bend the truth
Consumers get pounded daily by advertisements that promise big savings from companies such as Allstate, GEICO and Progressive. All the companies have a common claim of big savings after switching your policy.
But how can every company make the same claim? It’s all in the numbers.
Insurance companies can use profiling for the type of driver that is profitable for them. A good example of a profitable customer could possibly be over the age of 40, is a homeowner, and drives less than 10,000 miles a year. A customer who matches those parameters receives the best rates and most likely will cut their rates substantially.
Potential customers who don’t measure up to the “perfect” profile will have to pay a higher premium which usually ends up with business not being written. The ads say “customers who switch” not “people who quote” save that much. This is how insurance companies can confidently advertise the savings.
Because of the profiling, you absolutely need to get a wide range of price quotes. Because you never know which insurance companies will have the lowest GMC Sierra 1500 insurance rates.
Pay less for GMC Sierra 1500 insurance
Car insurance is not cheap, but discounts can save money and there are some available to cut the cost considerably. Some discounts apply automatically when you get a quote, but some may not be applied and must be inquired about prior to receiving the credit. If you’re not getting every credit possible, you’re just leaving money on the table.
- Distant Student – Children living away from home attending college and don’t have a car may qualify for this discount.
- Air Bag Discount – Factory air bags or automatic seat belts may earn rate discounts of more than 20%.
- Good Students Pay Less – This discount can get you a discount of up to 25%. The good student discount can last well after school through age 25.
- Employee of Federal Government – Active or retired federal employment may qualify you for a discount for Sierra insurance with a few car insurance companies.
- Payment Discounts – If you pay your entire premium ahead of time rather than paying monthly you could save up to 5%.
- Safety Course Discount – Successfully completing a course in driver safety could save 5% or more if your company offers it.
- Homeowners Savings – Owning a house may earn you a small savings because owning a home demonstrates responsibility.
A little note about advertised discounts, some of the credits will not apply the whole policy. Most cut individual premiums such as collision or personal injury protection. So when the math indicates it’s possible to get free car insurance, it just doesn’t work that way. Any amount of discount will cut the cost of coverage.
Car insurance companies that may have some of the above discounts include:
Double check with each company what discounts are available to you. Discounts might not be offered in every state.
Tailor your coverage to you
When choosing the right insurance coverage for your personal vehicles, there really is no “best” method to buy coverage. Everyone’s situation is a little different and your policy should reflect that. For example, these questions might help in determining if you might need professional guidance.
- Should I buy additional glass protection?
- Is my babysitter covered when using my vehicle?
- I have a DUI can I still get coverage?
- Who is covered by my policy?
- Do I need special endorsements for business use of my vehicle?
- Do I benefit by insuring my home with the same company?
- How can I force my company to pay a claim?
- What discounts do I qualify for?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- Do I have newly-aquired coverage?
If you don’t know the answers to these questions but one or more may apply to you, you may need to chat with an agent. If you don’t have a local agent, take a second and complete this form or click here for a list of insurance coverage companies in your area. It only takes a few minutes and can help protect your family.
Knowing the specifics of a insurance policy aids in choosing which coverages you need for your vehicles. Insurance terms can be ambiguous and coverage can change by endorsement. Below you’ll find typical coverages found on the average insurance policy.
Liability auto insurance
Liability insurance will cover damage or injury you incur to a person or their property by causing an accident. It protects YOU against claims from other people, and doesn’t cover your injuries or vehicle damage.
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. As an example, you may have limits of 50/100/50 which means $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and property damage coverage for $50,000. Some companies may use one number which is a combined single limit that pays claims from the same limit with no separate limits for injury or property damage.
Liability coverage pays for claims like repair bills for other people’s vehicles, funeral expenses, legal defense fees, repair costs for stationary objects and structural damage. How much liability coverage do you need? That is your choice, but it’s cheap coverage so purchase as high a limit as you can afford.
Medical costs insurance
Medical payments and Personal Injury Protection insurance reimburse you for immediate expenses like nursing services, surgery, ambulance fees, chiropractic care and rehabilitation expenses. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. They cover all vehicle occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible
Comprehensive or Other Than Collision
This pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things like hitting a deer, a broken windshield and rock chips in glass. The most a insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
This gives you protection from other drivers when they either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.
Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked. Frequently these coverages are identical to your policy’s liability coverage.
This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. A deductible applies then your collision coverage will kick in.
Collision coverage pays for claims such as sustaining damage from a pot hole, sideswiping another vehicle, hitting a parking meter, backing into a parked car and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are older. Another option is to increase the deductible to bring the cost down.
A little work can save a LOT of money
In this article, we covered a lot of techniques to compare 1995 GMC Sierra 1500 insurance prices online. The key concept to understand is the more times you quote, the better likelihood of reducing your rate. You may be surprised to find that the best price on car insurance is with a small local company. Smaller companies can often insure niche markets at a lower cost as compared to the big name companies such as Allstate and Progressive.
Affordable insurance can be sourced both online and with local insurance agents, so you should be comparing quotes from both so you have a total pricing picture. Some insurance providers do not offer the ability to get a quote online and usually these small, regional companies provide coverage only through local independent agents.
Additional information is located at the links below
- What is a Telematics Device? (Allstate)
- What is Covered by GAP Insurance? (Allstate)
- Steps to Take After an Auto Accident (Insurance Information Insitute)
- A Tree Fell on Your Car: Now What? (Allstate)
Frequently Asked Questions
How can I find the cheapest insurance for my 1995 GMC Sierra 1500?
To find the cheapest insurance for your 1995 GMC Sierra 1500, you can take the following steps:
- Shop around: Compare quotes from multiple insurance providers to find the best rates.
- Opt for higher deductibles: Choosing a higher deductible can lower your insurance premium.
- Maintain a good driving record: Having a clean driving history can help you qualify for lower insurance rates.
- Inquire about discounts: Ask your insurance provider about any available discounts, such as multi-car, multi-policy, or safe driver discounts.
- Consider usage-based insurance: Some insurers offer usage-based insurance programs that track your driving habits and offer discounts based on your behavior behind the wheel.
Are there any specific factors that affect insurance rates for a 1995 GMC Sierra 1500?
Yes, several factors can influence the insurance rates for a 1995 GMC Sierra 1500, including:
- Age and driving experience: Younger, less experienced drivers typically face higher insurance premiums.
- Location: Insurance rates can vary depending on where you live due to factors such as crime rates and the likelihood of accidents.
- Vehicle value and repair costs: The GMC Sierra 1500 is a pickup truck, and its value and repair costs may be moderate, which can impact insurance rates.
- Usage of the vehicle: If the vehicle is used for commercial purposes or has a high annual mileage, insurance rates may be higher.
- Claim history: If the vehicle has a history of frequent claims or accidents, insurance rates may be higher.
Does the type of insurance coverage affect the cost for a 1995 GMC Sierra 1500?
Yes, the type of insurance coverage you choose can affect the cost of insuring a 1995 GMC Sierra 1500. Comprehensive and collision coverage typically have higher premiums compared to liability-only coverage. Comprehensive coverage protects against theft and non-collision damage, while collision coverage covers damages resulting from collisions. Liability-only coverage is generally the least expensive option but only provides coverage for damages you cause to others.
Can I reduce insurance costs for a 1995 GMC Sierra 1500 by opting for minimum coverage?
While opting for minimum coverage (liability-only) can lower your insurance costs, it’s important to carefully consider the potential risks and financial consequences. Liability-only coverage does not provide protection for damages to your own vehicle, so you would have to bear the expenses out of pocket in case of an accident or other covered events. Assess your individual needs and evaluate the potential risks before deciding on the coverage level.
Are there any specific insurance companies that offer affordable rates for a 1995 GMC Sierra 1500?
Insurance rates can vary significantly between different insurance companies, so it’s essential to compare quotes from multiple providers. Some insurance companies known for offering competitive rates for pickup trucks like the 1995 GMC Sierra 1500 include GEICO, Progressive, State Farm, Allstate, and Nationwide. However, rates can depend on various factors, including your location, driving history, and coverage needs, so it’s best to obtain personalized quotes to find the most affordable option for your specific situation.
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