The most effective way to get budget GMC Canyon insurance is to annually compare prices from companies that sell auto insurance in Arlington.
Step 1: Try to learn a little about the different coverages in a policy and the things you can control to prevent high rates. Many factors that drive up the price like speeding and your credit history can be improved by being financially responsible and driving safely.
Step 2: Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like Progressive or State Farm, while independent agencies can provide price quotes from multiple sources.
Step 3: Compare the new quotes to the premium of your current policy to see if a cheaper rate is available. If you can save money, ensure coverage does not lapse between policies.
Step 4: Provide written notification to your current company to cancel your current policy. Submit the required down payment along with the signed application for the new policy. Once coverage is bound, place your new certificate of insurance somewhere easily accessible.
A good tip to remember is to make sure you enter identical limits and deductibles on each quote request and to quote with as many companies as possible. This helps ensure an accurate price comparison and and a good selection of different prices.
Amazingly, a recent NerdWallet.com study showed that the vast majority of drivers have remained with the same auto insurance company for at least four years, and about 40% of consumers have never quoted auto insurance rates at all. Texas insurance shoppers could pocket $1,770 a year by just comparing quotes, but most tend to underestimate the amount of money they would save if they moved their coverage to a different company.
Finding affordable auto insurance coverage in Arlington is not as confusing as people think. Virtually every person who needs cheaper auto insurance will more than likely find a lower price. But Texas drivers should learn the way insurance companies charge you for coverage because it can help you find the best coverage.
Data for GMC Canyon insurance
The premium information shown below outlines a range of coverage costs for GMC Canyon models. Learning how rates are calculated is important for you to make smart choices when purchasing an insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Canyon SLE Regular Cab 2WD||$246||$476||$430||$26||$128||$1,306||$109|
|Canyon SLE Ext Cab 2WD||$246||$580||$430||$26||$128||$1,410||$118|
|Canyon SLE Ext Cab Z71 2WD||$246||$580||$430||$26||$128||$1,410||$118|
|Canyon SLE Crew Cab 2WD||$246||$580||$430||$26||$128||$1,410||$118|
|Canyon SLE Regular Cab 4WD||$282||$476||$430||$26||$128||$1,342||$112|
|Canyon SLE Crew Cab Z71 2WD||$282||$580||$430||$26||$128||$1,446||$121|
|Canyon SLT Ext Cab 2WD||$282||$580||$430||$26||$128||$1,446||$121|
|Canyon SLE Ext Cab 4WD||$282||$476||$430||$26||$128||$1,342||$112|
|Canyon SLT Crew Cab 2WD||$282||$684||$430||$26||$128||$1,550||$129|
|Canyon SLE Ext Cab Z71 4WD||$282||$580||$430||$26||$128||$1,446||$121|
|Canyon SLE Crew Cab 4WD||$318||$580||$430||$26||$128||$1,482||$124|
|Canyon SLE Crew Cab Z71 4WD||$318||$580||$430||$26||$128||$1,482||$124|
|Canyon SLT Crew Cab 4WD||$318||$580||$430||$26||$128||$1,482||$124|
|Canyon SLT Ext Cab 4WD||$318||$580||$430||$26||$128||$1,482||$124|
|Get Your Own Custom Quote Go|
Data rating is based on single female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Price estimates do not factor in zip code location which can modify premium rates significantly.
Impact of age and gender on insurance rates
The illustration below illustrates the difference between GMC Canyon insurance premiums for male and female drivers. The prices are based on a clean driving record, no at-fault accidents, full physical damage coverage, $100 deductibles, drivers are single, and no policy discounts are applied.
Full coverage or liability only
The example below visualizes the comparison of GMC Canyon insurance premiums with full coverage and liability only. The data assumes a clean driving record, no claims, $1,000 deductibles, drivers are not married, and no discounts are applied.
Should you be buying full coverage?
There is no definitive rule for dropping comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s assume your GMC Canyon replacement cost is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,000 after you pay the deductible. If you are paying in excess of $300 a year for full coverage, then you might want to consider buying only liability coverage.
There are some scenarios where dropping full coverage is not recommended. If you still owe money on your vehicle, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should keep full coverage.
Five Tips to Get Cheaper Arlington Insurance Costs
An important part of buying insurance is that you know a few of the rating criteria that help determine your insurance rates. When you know what positively or negatively influences your rates, this enables informed choices that can earn you lower rates. Multiple criteria are used in the calculation when you get your auto insurance bill. Some factors are common sense such as traffic violations, although some other factors are not quite as obvious like your continuous coverage or your commute time.
Get a ticket, pay higher costs – Being a careful driver has a big impact on rates. Just one ticket can boost insurance rates twenty percent or more. Drivers who don’t get tickets have lower premiums than bad drivers. People who have serious violations like reckless driving, hit and run or driving under the influence may find that they have to to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to drive a vehicle legally.
The example below demonstrates how citations and at-fault accidents drive up GMC Canyon insurance costs for each age group. The rate quotes are based on a single male driver, comprehensive and collision coverage, $100 deductibles, and no other discounts are factored in.
What’s your car’s IIHS safety rating? – Safe vehicles tend to be cheaper to insure. Highly rated vehicles reduce occupant injuries and lower injury rates translates directly to fewer claims and more competitive rates for policyholders. If the GMC Canyon is rated at least four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
Insurance policy lapses lead to higher prices – Allowing your insurance policy to lapse can be a fast way to increase your insurance rates. In addition to paying higher premiums, getting caught without coverage can result in a hefty fine and possibly a revoked license. You may need to submit proof of financial responsibility or a SR-22 with the Texas DMV.
Liability coverage limits should be high – Your insurance policy’s liability coverage kicks in if a court rules you are at fault for an accident. This coverage provides legal defense coverage up to the limits shown on your policy. Carrying liability coverage is mandatory and cheap when compared to the cost of physical damage coverage, so do not skimp.
More policies can equal more savings – Lots of companies will award a discount to clients that buy multiple policies. It’s known as a multi-policy discount. The discount can add up to ten percent or more. If you currently are using one company, consumers should still compare other company rates to make sure you are getting the best deal. You may still be able to find a better deal by buying insurance from more than one company.
GMC Canyon claim probability – Insurers factor in historical loss data in order to profitably underwrite each model. Models that the data determines to have high amounts or severity of claims will be charged more to insure. The information below illustrates the insurance loss data for GMC Canyon vehicles.
For each coverage type, the loss probability for all vehicles combined as an average equals 100. Percentage numbers below 100 suggest losses that are better than average, while percentage numbers above 100 point to more claims or tendency to have larger claims.
|Specific GMC Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|GMC Canyon Crew Cab 2WD||54||88|
|GMC Canyon Crew Cab 4WD||44||71|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
One last thing to lower rates
When searching for affordable Arlington auto insurance quotes, don’t be tempted to reduce needed coverages to save money. There are a lot of situations where an accident victim reduced collision coverage to discover at claim time that the few dollars in savings costed them thousands. The goal is to buy enough coverage for the lowest cost while not skimping on critical coverages.
Budget-conscious GMC Canyon insurance can be bought on the web as well as from insurance agents, and you need to comparison shop both in order to have the best price selection to choose from. Some insurance companies may not provide online price quotes and many times these small insurance companies work with independent agents.
More tips and info about insurance can be found by following these links:
- Older Driver Statistics (Insurance Information Institute)
- What Insurance is Cheapest for a Jeep Grand Cherokee in Arlington? (FAQ)
- How Much is Auto Insurance for Uninsured Drivers in Arlington? (FAQ)
- Who Has the Cheapest Arlington Auto Insurance Rates for Single Moms? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Drivers Over Age 50 in Arlington? (FAQ)
- Insuring a Leased Car (Insurance Information Institute)
- Bodily Injury Coverage (Liberty Mutual)