View 1998 GMC Suburban Insurance Cost
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UPDATED: May 11, 2022
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Are you intimidated by the sheer number of insurance coverage companies? You have a lot of company. Consumers have so many choices that it can turn into a ton of work to locate the lowest price.
It is always a good idea to price shop coverage periodically because insurance rates are constantly changing. Despite the fact that you may have had the best deal on Suburban insurance on your last policy you will most likely find a better rate today. You can find a lot of wrong information about insurance coverage on the internet, so I’m going to show you some good information on how to slash your insurance coverage rates.
Why you might be paying too much to insure your GMC Suburban
An important part of buying insurance is that you know some of the elements that come into play when calculating your auto insurance rates. Having a good understanding of what influences your rates empowers consumers to make smart changes that can help you get better auto insurance rates.
The list below includes some of the factors used by your company to calculate your rates.
- Your age impacts your rates – Mature drivers are more cautious drivers, file fewer claims and get fewer tickets. Youthful drivers are statistically proven to be less responsible in a vehicle therefore auto insurance rates are much higher.
- Extra coverages can waste money – There are many extra bells and whistles that you can get tricked into buying if you aren’t careful. Things like rental car reimbursement, accidental death and term life insurance are some examples. They may seem good when you first buy your policy, but if they’re wasting money remove them from your policy.
- Your spouse saves you money – Being married can get you a discount on your auto insurance policy. Having a significant other translates into being more mature than a single person and it’s proven that being married results in fewer claims.
- Occupation reflects on rates – Jobs such as real estate brokers, executives and financial analysts tend to pay higher average rates due to high stress levels and long work days. Conversely, professions such as farmers, engineers and the unemployed have the lowest average rates on Suburban insurance.
- Multi-policy discounts can save money – Most insurers will give a discount to policyholders who have multiple policies with them such as combining an auto and homeowners policy. Discounts can amount to five, ten or even twenty percent. Even if you’re getting this discount it’s in your best interest to comparison shop to confirm you are receiving the best rates possible. You may still be able to find better rates by insuring with multiple companies.
These discounts can slash car insurance rates
Companies don’t always publicize every discount very well, so we break down both well-publicized as well as the least known ways to save on car insurance.
- Auto/Life Discount – Some companies give a break if you buy life insurance.
- Federal Employees – Simply working for the federal government may qualify you for a discount on Suburban insurance depending on your company.
- Anti-theft Discount – Anti-theft and alarm systems prevent vehicle theft and earn discounts up to 10%.
- Save with a New Car – Insuring a new car can save up to 30% due to better safety requirements for new cars.
- More Vehicles More Savings – Having multiple cars or trucks on the same car insurance policy may reduce the rate for each vehicle.
- Service Members Pay Less – Having a deployed family member may qualify for rate reductions.
- Good Student – A discount for being a good student can save 20 to 25%. The discount lasts until age 25.
- Senior Discount – Mature drivers may be able to get better car insurance rates on Suburban insurance.
Drivers should understand that most discount credits are not given to the entire policy premium. Most only apply to the cost of specific coverages such as medical payments or collision. Even though it may seem like all those discounts means the company will pay you, it doesn’t quite work that way.
Car insurance companies that may have these money-saving discounts are:
Double check with all companies you are considering which discounts they offer. Savings might not apply in every state.
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When might I need the advice of an agent?
When buying the right insurance coverage, there is no cookie cutter policy. Everyone’s situation is unique.
Here are some questions about coverages that may help highlight if your insurance needs might need professional guidance.
- How much liability insurance is required?
- Am I covered if my car is in a flood?
- Is my GMC Suburban covered if I use it for business?
- Do I need replacement cost coverage on my 1998 GMC Suburban?
- Does my medical payments coverage pay my health insurance deductible?
- Should I have combined single limit or split liability limits?
- Does my insurance cover damage caused when ticketed for reckless driving?
- How does medical payments coverage work?
If you’re not sure about those questions but one or more may apply to you, you might consider talking to a licensed insurance agent. If you want to speak to an agent in your area, complete this form.
Learn about insurance coverages for a GMC Suburban
Learning about specific coverages of insurance helps when choosing appropriate coverage and the correct deductibles and limits. The coverage terms in a policy can be confusing and coverage can change by endorsement.
Coverage for liability
Liability insurance can cover damage or injury you incur to people or other property by causing an accident. It protects you from legal claims by others, and doesn’t cover damage to your own property or vehicle.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. You commonly see limits of 25/50/25 that translate to $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.
Liability insurance covers claims like bail bonds, repair costs for stationary objects, structural damage, court costs and medical services. The amount of liability coverage you purchase is a decision to put some thought into, but consider buying as high a limit as you can afford.
Uninsured or underinsured coverage
Your UM/UIM coverage gives you protection from other motorists when they either are underinsured or have no liability coverage at all. Covered losses include medical payments for you and your occupants as well as your vehicle’s damage.
Since a lot of drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage is important protection for you and your family.
Medical expense coverage
Med pay and PIP coverage provide coverage for bills for things like chiropractic care, doctor visits, dental work and X-ray expenses. They are often utilized in addition to your health insurance program or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants in addition to if you are hit as a while walking down the street. PIP is only offered in select states and gives slightly broader coverage than med pay
Comprehensive insurance coverage pays for damage from a wide range of events other than collision. A deductible will apply and then insurance will cover the rest of the damage.
Comprehensive can pay for claims like hitting a bird, a tree branch falling on your vehicle, falling objects and rock chips in glass. The most your insurance company will pay is the actual cash value, so if the vehicle’s value is low consider dropping full coverage.
This coverage pays for damage to your Suburban resulting from a collision with another car or object. You first must pay a deductible then your collision coverage will kick in.
Collision insurance covers claims like hitting a mailbox, sideswiping another vehicle, scraping a guard rail, crashing into a building and crashing into a ditch. Paying for collision coverage can be pricey, so consider dropping it from older vehicles. You can also choose a higher deductible to bring the cost down.
Don’t be a big spender
As you go through the steps to switch your coverage, it’s very important that you do not reduce coverage to reduce premium. There are a lot of situations where an accident victim reduced physical damage coverage to discover at claim time that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to buy the best coverage you can find at the best price while still protecting your assets.
Affordable 1998 GMC Suburban insurance is available online in addition to many insurance agents, so you should compare both to have the best chance of lowering rates. There are still a few companies who do not provide online price quotes and most of the time these small, regional companies sell through independent agents.
We just showed you a lot of tips how to shop for insurance online. The key thing to remember is the more companies you get rates for, the better your chances of lowering your rates. Consumers may even find the lowest premiums are with some of the smallest insurance companies.
Additional information is located on the following sites:
- Child Safety Seats (Insurance Information Insitute)
- Older Drivers FAQ (iihs.org)
- Should I Buy a New or Used Car? (Allstate)
- Prom Night Tips for Teen Drivers (State Farm)
- Uninsured Motorists: Threats on the Road (Insurance Information Insitute)
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