2008 GMC Canyon Insurance Rates

Average insurance rates for a 2008 GMC Canyon are $998 a year with full coverage. Comprehensive costs around $156 each year, collision insurance costs $210, and liability costs $474. Buying a liability-only policy costs as little as $522 a year, and high-risk insurance costs around $2,148. Teen drivers receive the highest rates at up to $4,040 a year.

Annual premium for full coverage: $998

Rate estimates for 2008 GMC Canyon Insurance

Rate data is compiled from all 50 U.S. states and averaged for all 2008 GMC Canyon models. Rates are based on a 40-year-old male driver, $500 comprehensive and collision deductibles, and a clean driving record. Remaining premium consists of UM/UIM coverage, Medical/PIP, and policy fees.

Price Range by Coverage and Risk

View Chart as Image

These differences demonstrate why all drivers should compare rates for a specific zip code and risk profile, instead of making a decision based on price averages.

Use the form below to get rates for your location.

Searching for lower car insurance rates for your GMC Canyon? Are you intimidated by the sheer number of car insurance company choices? You have a lot of company. Drivers have so many companies to choose from that it can turn into a ton of work to find lower rates.

Finding Car Insurance Deals

There are multiple methods to shop for 2008 GMC Canyon car insurance, and some are less labor-intensive and much quicker. You can spend your afternoon discussing policy coverages with local insurance agents in your area, or you could save time and use the web to achieve your goal.

The majority of car insurance companies belong to an insurance system where prospective buyers submit their information once, and each participating company returns a competitive quote based on that information. This saves time by eliminating quote requests to each company.

To participate in this free quote system, click here (opens in new window).

The one downside to comparing rates this way is you cannot specify which providers to get quotes from. If you wish to select specific insurance companies to compare prices, we have a listing of car insurance companies in your area. Click to view list.

It’s up to you which method you use, but make sure you use the exact same coverages with every price quote. If your comparisons have unequal deductibles or liability limits it will be next to impossible to make an equal comparison. Slightly different coverage limits could mean much higher rates. It’s important to know that having more price comparisons will improve the odds of getting the best price.

You probably qualify for some discounts

Companies don’t list every available discount in an easy-to-find place, so we researched both the well known as well as the least known discounts you could be receiving.

• Multi-car Discount – Buying insurance for more than one vehicle on one policy qualifies for this discount.
• Homeowners Savings – Being a homeowner may trigger a insurance coverage policy discount due to the fact that maintaining a home requires personal responsibility.
• Early Signing – A few companies offer discounts for buying a policy before your current policy expires. This can save 10% or more.
• Anti-lock Brakes – Vehicles equipped with ABS or steering control can reduce accidents and qualify for as much as a 10% discount.
• Air Bag Discount – Vehicles with factory air bags and/or automatic seat belt systems can get savings up to 30%.
• Discounts for Safe Drivers – Insureds without accidents may save up to 50% more for Canyon insurance than drivers with accident claims.
• One Accident Forgiven – Certain companies will forgive one accident without raising rates as long as you don’t have any claims for a certain period of time.
• Federal Government Employee – Active or retired federal employment can earn a discount up to 10% for Canyon insurance with certain companies.

It’s important to note that some of the credits will not apply to your bottom line cost. Some only apply to the cost of specific coverages such as medical payments or collision. So despite the fact that it appears all the discounts add up to a free policy, companies wouldn’t make money that way.

Companies that possibly offer some of the above discounts may include but are not limited to:

• Progressive
• The Hartford
• Mercury Insurance
• GEICO
• AAA
• State Farm

It’s a good idea to ask all companies you are considering which discounts they offer. All car insurance discounts may not be available in every state.

There’s no such thing as the perfect policy

When choosing proper insurance coverage, there isn’t really a cookie cutter policy. Every situation is different.

Here are some questions about coverages that can aid in determining if your situation might need professional guidance.

• Is upholstery damage covered by car insurance?
• Should I sign the liability waiver when renting a car?
• How can I get my company to pay me more for my totalled car?
• Is my nanny covered when driving my vehicle?
• Does my liability insurance cover pulling a trailer or camper?
• Does my policy cover me when driving someone else’s vehicle?
• Does my insurance cover damage caused when ticketed for reckless driving?
• What can I do if my company won’t pay a claim?
• Is my teen driver covered when they drive my company car?

If you can’t answer these questions, you might consider talking to an agent. To find an agent in your area, simply complete this short form.

Specific coverages for a 2008 GMC Canyon

Knowing the specifics of your policy aids in choosing the best coverages at the best deductibles and correct limits. The terms used in a policy can be impossible to understand and coverage can change by endorsement.

Uninsured/Underinsured Motorist (UM/UIM) – This coverage protects you and your vehicle when the “other guys” are uninsured or don’t have enough coverage. Covered losses include hospital bills for your injuries and damage to your GMC Canyon.

Because many people have only the minimum liability required by law, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important.

Liability insurance – Liability insurance can cover injuries or damage you cause to people or other property. This coverage protects you against other people’s claims. Liability doesn’t cover your injuries or vehicle damage.

Liability coverage has three limits: 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 25/50/25 which means a limit of $25,000 per injured person, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.

Liability coverage pays for claims such as loss of income, pain and suffering and legal defense fees. How much liability should you purchase? That is your choice, but it’s cheap coverage so purchase as large an amount as possible.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP provide coverage for bills for prosthetic devices, hospital visits and surgery. The coverages can be utilized in addition to your health insurance policy or if you lack health insurance entirely. Coverage applies to both the driver and occupants and also covers getting struck while a pedestrian. PIP is only offered in select states but can be used in place of medical payments coverage

Comprehensive insurance – Comprehensive insurance coverage pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers claims such as falling objects, damage from getting keyed, hitting a deer, damage from flooding and damage from a tornado or hurricane. The most a car insurance company will pay at claim time is the cash value of the vehicle, so if the vehicle is not worth much consider dropping full coverage.

Collision coverage – This coverage pays for damage to your Canyon resulting from a collision with another car or object. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision coverage protects against claims such as sideswiping another vehicle, colliding with another moving vehicle, colliding with a tree, crashing into a building and hitting a mailbox. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. Drivers also have the option to raise the deductible to get cheaper collision coverage.

Online plus local equals savings

Lower-priced 2008 GMC Canyon insurance can be found on the web in addition to many insurance agents, so you should be comparing quotes from both to have the best chance of lowering rates. Some insurance companies do not provide online price quotes and most of the time these regional insurance providers sell through independent agents.

As you shop your coverage around, it’s a bad idea to buy lower coverage limits just to save a few bucks. There have been many situations where drivers have reduced full coverage only to discover later that the small savings ended up costing them much more. Your focus should be to buy the best coverage you can find at an affordable rate, not the least amount of coverage.

In this article, we covered a lot of information how to lower your insurance rates. The key concept to understand is the more rate comparisons you have, the better likelihood of reducing your rate. You may be surprised to find that the biggest savings come from a company that doesn’t do a lot of advertising.

For more information, feel free to visit these articles:

• Five Tips to Save on Auto Insurance (Insurance Information Insitute)
• Medical Payments Coverage (Liberty Mutual)
• Frontal Crash Tests (iihs.org)
• Protecting Teens from Drunk Driving (Insurance Information Insitute)
• Safety Belts FAQ (iihs.org)

Use our FREE quote tool to compare rates now!