2018 GMC Canyon Insurance Cost

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Dec 10, 2021

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Nobody rejoices having to buy auto insurance, especially when they know they could get a better deal. Online insurance companies like Allstate and Progressive increase brand awareness with advertising and consumers find it hard to avoid their marketing magic and do the work needed to find the best deal.

You should make it a habit to get comparison quotes periodically because auto insurance prices are adjusted regularly by insurance companies. If you had the best price for Canyon insurance on your last policy the chances are good that you can find a lower rate quote today. You can find a lot of information about auto insurance online, but I’m going to show you some guaranteed methods to lower your auto insurance premiums.

If you have insurance now or need new coverage, you can use these techniques to reduce the price you pay while maximizing coverage. Finding the best rates is not rocket science. Consumers just need to know the proper way to shop their coverage around on the web.

The quickest method to compare rate quotes is to take advantage of the fact most of the bigger providers actually pay money for the chance to provide you with a free rate quote. The only thing you need to do is provide a small amount of information such as if the vehicle is leased, the ages of drivers, level of coverage desired, and whether you drive to work or school. The rating information is instantly sent to multiple top-rated companies and they provide comparison quotes with very little delay.

Insurance savings promises

Consumers can’t get away from all the ads that promise big savings for switching by GEICO, State Farm and Progressive. All the companies tend to make the same promise that you’ll save big if you just switch to their company.

It sounds good, but how can they all charge less that you’re paying now? It’s all in the numbers.

Many companies can use profiling for the type of insured that makes them money. For example, a desirable risk should be a married female, has no prior claims, and has excellent credit. A propective insured who fits those characteristics will get the preferred car insurance rates and will also save money with a new company.

Drivers who don’t qualify for this ideal profile may be forced to pay a higher premium which translates to the prospect going elsewhere. Company advertisements say “customers who switch” but not “all drivers who get quotes” save that kind of money. That’s why companies can truthfully claim big savings.

Because each company has a different risk profile, drivers should compare rate quotes every year. It is just not possible to predict with any certainty which company will have the best premium rates for your profile.

Do you qualify for discounts?

Some companies don’t necessarily list every discount they offer in a way that’s easy to find, so the next list breaks down a few of the more well known as well as some of the hidden discounts that you may qualify for.

  • Theft Deterent – Vehicles that have factory alarm systems and tracking devices help deter theft and qualify for as much as a 10% discount.
  • No Claim Discounts – Drivers who stay claim-free get the best insurance coverage rates in comparison to drivers who are more careless.
  • Student Discounts – Getting good grades may save you up to 25%. You can use this discount normally up to age 25.
  • Government Employees – Active or former government employment could cut as much as 10% off for Canyon insurance with a few insurance coverage companies.
  • Defensive Driver Discounts – Taking a safe driver course could possibly earn you a 5% discount and easily recoup the cost of the course.
  • Telematics Devices – Insureds who allow companies to study when and where they use their vehicle by installing a telematics device such as Snapshot from Progressive or Drivewise from Allstate could see a rate decrease if they are good drivers.
  • Student in College – College-age children who are enrolled in higher education away from home and won’t have access to an insured vehicle could get you a discount.
  • Save over 55 – If you qualify as a senior citizen, you may qualify for reduced rates for Canyon insurance.

As a disclaimer on discounts, most discounts do not apply to the entire cost. The majority will only reduce the cost of specific coverages such as liability and collision coverage. So even though it sounds like you could get a free insurance coverage policy, companies don’t profit that way.

Larger insurance coverage companies and a summarized list of policyholder discounts can be found below.

  • State Farm has discounts for defensive driving training, Steer Clear safe driver discount, student away at school, passive restraint, and good student.
  • Liberty Mutual discounts include teen driver discount, good student, safety features, newly married, exclusive group savings, new vehicle discount, and new graduate.
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  • American Family offers discounts including air bags, good student, early bird, Steer into Savings, and good driver.
  • Progressive offers premium reductions for multi-vehicle, homeowner, multi-policy, continuous coverage, online quote discount, good student, and online signing.
  • Farmers Insurance has savings for homeowner, youthful driver, teen driver, distant student, and business and professional.
  • Auto-Owners Insurance offers discounts for multi-policy, group or association, good student, student away at school, paperless, and paid in full.
  • SAFECO policyholders can earn discounts including multi-car, drive less, anti-theft, teen safety rewards, bundle discounts, and teen safe driver.

If you want affordable insurance quotes, ask every prospective company which discounts you qualify for. A few discounts might not be offered on policies in your area. If you would like to view providers with discount insurance coverage rates, click here to view.

Don’t assume everyone needs the same insurance coverage

When it comes to choosing proper insurance coverage for your vehicles, there really is not a one size fits all plan. Every situation is different so your insurance needs to address that. These are some specific questions can help discover whether your personal situation would benefit from professional advice.

  • Can I pay claims out-of-pocket if I buy high deductibles?
  • Why does it cost so much to insure a teen driver?
  • Does my insurance cover damage caused when ticketed for reckless driving?
  • Do I need replacement cost coverage on my 2018 GMC Canyon?
  • Do I get a pro-rated refund if I cancel my policy early?
  • If my pet gets injured in an accident are they covered?
  • Do I need added coverage for expensive stereo equipment?
  • Does coverage extend to a rental car in a foreign country?

If you’re not sure about those questions but a few of them apply, you might consider talking to a licensed agent. If you don’t have a local agent, fill out this quick form or you can also visit this page to select a carrier It only takes a few minutes and you can get the answers you need.

Insurance policy coverages for a GMC Canyon

Learning about specific coverages of insurance can help you determine which coverages you need at the best deductibles and correct limits. Policy terminology can be difficult to understand and nobody wants to actually read their policy. Below you’ll find the usual coverages available from insurance companies.

Uninsured/Underinsured Motorist (UM/UIM) – This protects you and your vehicle’s occupants from other motorists when they are uninsured or don’t have enough coverage. Covered claims include hospital bills for your injuries as well as damage to your GMC Canyon.

Due to the fact that many drivers carry very low liability coverage limits, it only takes a small accident to exceed their coverage. So UM/UIM coverage should not be overlooked. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Collision coverage – Collision insurance pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision insurance covers things like rolling your car, hitting a parking meter, colliding with another moving vehicle, scraping a guard rail and crashing into a ditch. Collision is rather expensive coverage, so consider dropping it from lower value vehicles. You can also increase the deductible to save money on collision insurance.

Liability auto insurance – Liability insurance can cover damage or injury you incur to other people or property by causing an accident. This insurance protects YOU against claims from other people. It does not cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and property damage coverage for $100,000. Occasionally you may see one limit called combined single limit (CSL) which limits claims to one amount rather than limiting it on a per person basis.

Liability coverage pays for things like medical services, structural damage and repair bills for other people’s vehicles. The amount of liability coverage you purchase is up to you, but buy higher limits if possible.

Med pay and Personal Injury Protection (PIP) – Coverage for medical payments and/or PIP pay for expenses like hospital visits, nursing services and X-ray expenses. They are used to fill the gap from your health insurance policy or if you do not have health coverage. They cover both the driver and occupants and also covers being hit by a car walking across the street. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay

Comprehensive insurance – This will pay to fix damage from a wide range of events other than collision. A deductible will apply then your comprehensive coverage will pay.

Comprehensive insurance covers things like a tree branch falling on your vehicle, rock chips in glass, hitting a bird and falling objects. The highest amount you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle is not worth much consider dropping full coverage.

Save your cold hard cash

We covered many ideas to save on 2018 GMC Canyon insurance. It’s most important to understand that the more rate quotes you have, the better chance you’ll have of finding cheap insurance. Consumers could even find that the lowest prices are with the smaller companies. These companies may have significantly lower rates on certain market segments than the large multi-state companies such as Allstate, GEICO and Progressive.

When you buy insurance online, don’t be tempted to buy poor coverage just to save money. Too many times, an insured dropped collision coverage and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to find the BEST coverage at an affordable rate.

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