How Much Does 2002 GMC Yukon Car Insurance Cost?

Want lower car insurance rates? Drivers have options when trying to find the lowest priced GMC Yukon insurance. You can either waste hours calling around to compare prices or leverage the internet to get rate quotes.

There is a right way and a wrong way to shop for car insurance and you need to know the proper way to compare rates for a GMC and get the cheapest rates.

If you have a policy now or are shopping for new coverage, you will benefit by learning to find the best rates while maintaining coverages. The purpose of this article is to help educate you on how to effectively get price quotes and some tricks to saving. Consumers just need to learn the tricks to get comparison quotes on the web.

How to Lower Your Car Insurance Cost

There are a lot of ways you can shop for car insurance but one way is more efficient than others. You could waste time driving to insurance companies in your area, or you can stay home and use online quoting to get rate comparisons in just a few minutes.

Most major companies enroll in a system that allows shoppers to enter their policy data once, and each company then returns a price quote based on that data. This prevents consumers from doing quote forms for each company you want a rate for.

To access this free quoting program, click to open in new window.

The only drawback to using this type of form is that consumers can’t choose the insurers to get pricing from. So if you prefer to pick from a list of companies to request quotes from, we put together a list of companies who write car insurance in your area. Click to view list.

However you get your quotes, make sure you use apples-to-apples deductibles and coverage limits for every quote you compare. If you enter different liability limits it’s not possible to make a fair comparison for your GMC Yukon.

Save $423 a year? Really?

Consumers get pounded daily by advertisements that promise big savings from companies such as Allstate, Geico and Progressive. All the companies make an identical promise that you can save after switching your policy.

How can each company make almost identical claims? It’s all in the numbers.

All the different companies are able to cherry pick for the driver that makes them money. An example of a preferred risk might be between 30 and 50, has no driving citations, and has great credit. A customer that hits that “sweet spot” will qualify for the lowest rates and is almost guaranteed to save a lot of money.

Potential customers who fall outside these standards will have to pay more money which leads to the customer not buying. The ads state “customers that switch” not “people who quote” save money. This is how insurance companies can confidently advertise the savings.

Because of the profiling, drivers must quote coverage with many companies. It’s not possible to predict which company will give you the biggest savings on GMC Yukon insurance.

What determines your GMC Yukon insurance premium

An important part of buying insurance is that you know the rating factors that play a part in calculating the rates you pay for auto insurance. Knowing what determines base rates allows you to make educated decisions that may reward you with better auto insurance rates.

Shown below are some of the items companies use to determine rates.

  • Rates may be higher depending on your occupation – Did you know your job can affect your rates? Occupations like doctors, executives and accountants are shown to have higher rates than average attributed to job stress and lengthy work days. On the flip side, jobs such as pilots, athletes and performers pay the least on Yukon coverage.
  • The more you drive the more you pay – Driving more miles in a year’s time the more you’ll pay to insure your vehicle. Most companies price each vehicle’s coverage based on their usage. Autos used primarily for pleasure use get more affordable rates than vehicles that are driven to work every day. Double check that your auto insurance coverage is showing the proper vehicle usage. Incorrect usage on your Yukon may be wasting your money.
  • Safe vehicles cost less to insure – Vehicles with good safety scores are cheaper to insure. These vehicles reduce injuries and any reduction in injury severity means lower claim amounts and more competitive rates for policyholders. If your GMC Yukon scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
  • Do you qualify for a multi-policy discount? – The majority of auto insurance companies give discounts to customers who carry more than one policy. It’s known as a multi-policy discount. Discounts can add up to ten or even up to twenty percent in some cases. Even though this discount sounds good, you still need to shop around to verify if the discount is saving money. Consumers may find a better deal by buying insurance from more than one company.
  • No coverage gaps is important – Driving with no insurance can get your license suspended and auto insurance companies will penalize you for letting your insurance lapse. And not only will your rates increase, failure to provide proof of insurance may earn you a steep fine or even jail time.
  • Clean credit earns discounts – Your credit score is a huge factor in determining what you pay for auto insurance. Drivers with good credit tend to file fewer claims and have better driving records than drivers with lower credit scores. Therefore, if your credit score is low, you could pay less to insure your 2002 GMC Yukon by improving your rating.
  • Traffic citations inflate rates – Good drivers tend to pay less for car insurance than their less careful counterparts. Only having one moving violation can increase rates twenty percent or more. Drivers who get dangerous violations such as DWI, reckless driving or hit and run convictions may be required to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to prevent a license revocation.

Discounts to lower GMC Yukon insurance rates

Insuring your vehicles can cost a lot, but discounts can save money and there are some available to help bring down the price. Certain discounts will be triggered automatically when you get a quote, but a few must be specially asked for before being credited. If they aren’t giving you every credit you qualify for, you’re paying more than you need to.

  • Student in College – Any of your kids living away from home attending college and don’t have a car can receive lower rates.
  • Anti-lock Brake Discount – Anti-lock brake equipped vehicles prevent accidents and earn discounts up to 10%.
  • Discount for Good Grades – A discount for being a good student can get you a discount of up to 25%. This discount can apply until age 25.
  • Passive Restraint Discount – Vehicles with factory air bags can get savings of up to 25% or more.
  • No Charge for an Accident – A few companies allow you one accident before raising your premiums if you are claim-free for a particular time prior to the accident.
  • Seat Belt Usage – Buckling up and requiring all passengers to use their safety belts could cut 10% or more on the medical payments or PIP coverage costs.
  • Life Insurance Discount – Companies who offer life insurance give better rates if you take out auto and life insurance together.
  • Student Driver Training – Cut your cost by having your teen driver complete a driver education course in school.
  • Drive Safe and Save – Insureds without accidents can get discounts for up to 45% lower rates on Yukon coverage than their less cautious counterparts.
  • Homeowners Discount – Being a homeowner may trigger a auto insurance policy discount because of the fact that having a home requires personal responsibility.

As a disclaimer on discounts, many deductions do not apply to the entire policy premium. Most only cut individual premiums such as physical damage coverage or medical payments. Even though it may seem like adding up those discounts means a free policy, companies don’t profit that way. Any amount of discount will reduce the amount you have to pay.

For a list of insurers offering auto insurance discounts, click here to view.

Tailor your coverage to you

When it comes to choosing the best car insurance coverage for your personal vehicles, there really is no cookie cutter policy. Everyone’s situation is unique.

For example, these questions might point out whether or not you might need professional guidance.

  • Are all vehicle passengers covered by medical payments coverage?
  • Do I need PIP coverage since I have good health insurance?
  • Am I covered when pulling a rental trailer?
  • Am I covered if I hit my neighbor’s mailbox?
  • Where can I get insurance after a DUI in my state?
  • Am I covered when renting a car or should I buy coverage from the car rental agency?
  • Should I have combined single limit or split liability limits?
  • How do I file an SR-22 for a DUI in my state?
  • How much underlying liability do I need for an umbrella policy?

If you can’t answer these questions then you might want to talk to a licensed insurance agent. To find an agent in your area, fill out this quick form. It’s fast, free and you can get the answers you need.

Detailed coverages of your auto insurance policy

Knowing the specifics of your policy helps when choosing the best coverages for your vehicles. Auto insurance terms can be confusing and nobody wants to actually read their policy.

Medical costs insurance

Med pay and PIP coverage reimburse you for immediate expenses for X-ray expenses, pain medications, ambulance fees and funeral costs. The coverages can be used in conjunction with a health insurance policy or if you lack health insurance entirely. Coverage applies to you and your occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is not universally available but can be used in place of medical payments coverage

Collision coverage

This coverage pays for damage to your Yukon resulting from colliding with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.

Collision coverage protects against things such as crashing into a ditch, colliding with another moving vehicle, scraping a guard rail, colliding with a tree and sustaining damage from a pot hole. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. Drivers also have the option to increase the deductible in order to get cheaper collision rates.

UM/UIM Coverage

Uninsured or Underinsured Motorist coverage gives you protection when other motorists do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your GMC Yukon.

Since many drivers only purchase the least amount of liability that is required, it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family. Usually these coverages are set the same as your liablity limits.

Liability coverage

This coverage provides protection from damage that occurs to other’s property or people in an accident. It protects YOU from legal claims by others, and doesn’t cover your injuries or vehicle damage.

It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see values of 50/100/50 that means you have $50,000 in coverage for each person’s injuries, a limit of $100,000 in injury protection per accident, and $50,000 of coverage for damaged propery. Some companies may use a combined single limit or CSL which provides one coverage limit without having the split limit caps.

Liability coverage pays for things like emergency aid, attorney fees, medical services, pain and suffering and repair bills for other people’s vehicles. How much liability coverage do you need? That is your choice, but consider buying as high a limit as you can afford.

Comprehensive or Other Than Collision

Comprehensive insurance pays to fix your vehicle from damage that is not covered by collision coverage. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage pays for things like fire damage, rock chips in glass, vandalism and damage from getting keyed. The maximum amount a auto insurance company will pay at claim time is the market value of your vehicle, so if it’s not worth much more than your deductible consider dropping full coverage.

The best insurance company isn’t always the cheapest

While you’re price shopping online, it’s a bad idea to buy lower coverage limits just to save a few bucks. There are many occasions where someone dropped liability limits or collision coverage only to find out that they should have had better coverage. Your goal should be to buy a smart amount of coverage at a price you can afford.

Drivers change insurance companies for a number of reasons such as denial of a claim, not issuing a premium refund, extreme rates for teen drivers and delays in responding to claim requests. It doesn’t matter why you want to switch finding a new company is not as difficult as it may seem.

We just covered a lot of information how to get a better price on 2002 GMC Yukon insurance. The key concept to understand is the more price quotes you have, the higher the chance of saving money. You may be surprised to find that the lowest rates come from an unexpected company.

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