2005 GMC Sierra 3500 Insurance Rates
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UPDATED: Jun 12, 2015
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Searching for cheaper insurance rates for your GMC Sierra 3500? Locating cheaper insurance for a new or used GMC Sierra 3500 could be an all-consuming task, but you can follow our insurance buying tips and make it easy.
There is a right way and a wrong way to compare insurance rates so you’re going to learn the best way to quote coverages for your GMC and locate the cheapest rates.
It’s smart to compare prices at least once a year because prices are adjusted regularly by insurance companies. Just because you had the best rates on Sierra insurance a couple years back a different company probably has better rates today. Ignore everything you know about insurance because we’re going to demonstrate the tricks you need to know to properly buy coverages while reducing your premium.
These discounts can slash insurance rates
Properly insuring your vehicles can get expensive, but you can get discounts that can drop the cost substantially. Most are applied when you get a quote, but a few need to be specifically requested before being credited. If you don’t get every credit available, you’re paying more than you need to.
- Payment Method – By paying your policy upfront rather than paying monthly you could save 5% or more.
- Use Seat Belts – Drivers who require all occupants to buckle their seat belts can save 10% or more off your medical payments premium.
- Save over 55 – Older drivers may be able to get reduced rates on Sierra insurance.
- Federal Employees – Active or retired federal employment may qualify you for a discount on Sierra insurance with select insurance companies.
- Safety Course Discount – Taking a course teaching defensive driving skills can save you 5% or more depending on where you live.
- Low Mileage – Driving fewer miles can qualify you for better rates on cars that stay parked.
- Theft Prevention System – Vehicles with anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
- Discount for New Cars – Adding a new car to your policy can save up to 30% because new vehicles have to meet stringent safety requirements.
- Driver’s Ed – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class in high school.
A little note about advertised discounts, many deductions do not apply to the entire cost. Most only apply to individual premiums such as comp or med pay. Even though it may seem like adding up those discounts means a free policy, it doesn’t quite work that way. But all discounts will bring down your premiums.
A partial list of companies who might offer some of the above discounts may include but are not limited to:
Double check with all companies you are considering what discounts are available to you. Some discounts may not apply in your area.
Finding Car Insurance
Reducing your 2005 GMC Sierra 3500 insurance rates can be quick and easy. You just have to take a couple of minutes getting comparison quotes from different insurance companies. This can be done in just a few minutes using one of these methods.
- The easiest and least time consuming way to get quotes for comparison is to use a rate comparison form like this one (opens in new window). This easy form keeps you from doing separate quotation requests for each company you want a rate for. A single form will get you rate comparisons from several companies. It’s definitely the quickest method.
- A harder way to get quotes online consists of visiting the website of each company and complete a new quote form. For sake of this example, let’s assume you want rates from GEICO, Progressive and Liberty Mutual. To find out each rate you need to take the time to go to each site and enter your policy data, and that’s why the first method is more popular. For a list of links to companies insuring cars in your area, click here.
- The least recommended way to get comparison rates is to spend your day driving to and from local insurance agencies. Buying insurance online can eliminate the need for a local agent unless you have a need for the professional advice of a licensed agent. It is possible to find lower rates online but still have the advice of a local agent. We’ll cover that shortly.
Whichever method you choose, compare the exact same coverage limits on every quote. If the quotes have higher or lower deductibles it’s impossible to determine the lowest rate for your GMC Sierra 3500.
Parts of the GMC Sierra 3500 rate equation
It’s important that you understand the different types of things that go into determining the rates you pay for insurance. Having a good understanding of what influences your rates enables informed choices that may reward you with lower insurance prices.
- Do you know you’re credit rating? – A driver’s credit score is a important factor in determining what you pay for insurance. Therefore, if your credit history is lower than you’d like, you could be paying less to insure your 2005 GMC Sierra 3500 by improving your rating. Drivers with high credit scores tend to file fewer claims and have better driving records than drivers who have poor credit.
- Higher deductibles cost less – Your deductibles represent how much money you are willing to pay out-of-pocket before your insurance pays a claim. Coverage for physical damage, termed comprehensive and collision coverage on your policy, insures against damage to your car. A few examples of covered claims would be colliding with a building, damage from fire, or theft. The higher the amount you have to pay, the less your company will charge you for insurance on Sierra insurance.
- Liability coverage is cheap – The liability section of your policy is the coverage that protects you if you are found to be at fault for damages from an accident. Liability insurance provides you with a defense in court which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so drivers should carry high limits.
- Mature drivers pay less – Mature drivers are more cautious drivers, statistically cause fewer accidents and get fewer tickets. Youthful drivers have a tendency to get distracted easily in a vehicle and because of this, their insurance rates are much higher.
- Discounts for multiple policies – Many insurance companies will give a discount to customers who buy several policies from them, otherwise known as a multi-policy discount. Even if you’re getting this discount it’s in your best interest to compare other company rates to confirm you are receiving the best rates possible. You may still find better rates by insuring with multiple companies.
- Theft deterrents lower rates – Choosing a vehicle with anti-theft technology or alarm system can help bring down rates. Theft prevention features like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can thwart your car from being stolen.
- Where you reside plays a part – Living in a small town is a positive aspect when it comes to insurance. City drivers regularly have more traffic problems and a longer drive to work. Less people living in that area means a lower chance of having an accident and also fewer theft and vandalism claims.
When might I need the advice of an agent?
When choosing proper insurance coverage for your personal vehicles, there really is no perfect coverage plan. Coverage needs to be tailored to your specific needs.
For example, these questions may help highlight whether or not you could use an agent’s help.
- Are my friends covered when driving my car?
- Is my vehicle covered by my employer’s policy when using it for work?
- At what point should I drop full coverage?
- Who is covered when they drive my 2005 GMC Sierra 3500?
- Will my rates increase for filing one claim?
- Is my teen driver covered when they drive my company car?
- Why does it cost so much to insure a teen driver?
- Can I rate high risk drivers on liability-only vehicles?
- What vehicles should carry emergency assistance coverage?
- How much liability coverage do I need in my state?
If you can’t answer these questions but you know they apply to you, you may need to chat with a licensed insurance agent. If you don’t have a local agent, fill out this quick form. It only takes a few minutes and you can get the answers you need.
Ads can be misleading
Drivers constantly see and hear ads for car insurance savings by State Farm, GEICO and Progressive. All the companies make the same claim that you’ll save big if you move to their company.
But how can every company say the same thing?
Different companies have a certain “appetite” for the type of driver that is profitable for them. An example of a driver they prefer might be between 25 and 40, has no driving citations, and has great credit. Any new insured who matches those parameters will get very good rates and is almost guaranteed to save when they switch companies.
Potential customers who do not match the requirements will have to pay higher rates and ends up with the customer not buying. The ads say “customers who switch” not “people who quote” save that much. This is how insurance companies can advertise the way they do.
Because of the profiling, it’s extremely important to get quotes from several different companies. Because you never know which insurance companies will have the lowest GMC Sierra 3500 insurance rates.
Insurance coverage basics
Understanding the coverages of a insurance policy can help you determine which coverages you need and the correct deductibles and limits. Policy terminology can be confusing and coverage can change by endorsement.
Comprehensive insurance covers damage that is not covered by collision coverage. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage protects against things like a broken windshield, theft and vandalism. The maximum amount you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.
Uninsured and underinsured coverage
Your UM/UIM coverage protects you and your vehicle’s occupants from other drivers when they either have no liability insurance or not enough. It can pay for injuries sustained by your vehicle’s occupants and also any damage incurred to your 2005 GMC Sierra 3500.
Because many people only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked. Most of the time the UM/UIM limits do not exceed the liability coverage limits.
Liability insurance will cover damages or injuries you inflict on a person or their property. This insurance protects YOU from claims by other people. It does not cover damage sustained by your vehicle in an accident.
Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show limits of 25/50/25 which stand for $25,000 bodily injury coverage, a total of $50,000 of bodily injury coverage per accident, and property damage coverage for $25,000. Another option is one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.
Liability coverage protects against things such as pain and suffering, bail bonds, repair bills for other people’s vehicles, legal defense fees and repair costs for stationary objects. How much coverage you buy is up to you, but you should buy as much as you can afford.
Coverage for medical payments
Coverage for medical payments and/or PIP pay for immediate expenses such as prosthetic devices, doctor visits, surgery, chiropractic care and funeral costs. They are used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers all vehicle occupants and also covers getting struck while a pedestrian. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage
Collision coverage will pay to fix damage to your Sierra 3500 caused by collision with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.
Collision insurance covers claims such as sideswiping another vehicle, damaging your car on a curb, colliding with a tree, backing into a parked car and crashing into a ditch. Collision coverage makes up a good portion of your premium, so consider removing coverage from older vehicles. You can also increase the deductible to save money on collision insurance.
Don’t break the bank
Insureds switch companies for any number of reasons including policy non-renewal, being labeled a high risk driver, not issuing a premium refund and even high rates after DUI convictions. It doesn’t matter what your reason, finding a new company is actually quite simple.
As you go through the steps to switch your coverage, do not buy poor coverage just to save money. There are too many instances where drivers have reduced liability limits or collision coverage and learned later they didn’t purchase enough coverage. The aim is to get the best coverage possible at the best price while still protecting your assets.
We covered many ideas to compare 2005 GMC Sierra 3500 insurance prices online. It’s most important to understand that the more providers you compare, the better likelihood of reducing your rate. Consumers may even find the biggest savings come from a small local company.
More information can be found below:
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