If saving the most money is your goal, then the best way to get cheaper GMC Terrain insurance in Jacksonville is to make a habit of regularly comparing prices from providers who sell auto insurance in Florida. Price quotes can be compared by completing these steps.
Step 1: Read about how car insurance works and the factors you can control to keep rates down. Many risk factors that increase rates like traffic violations, accidents, and a low credit rating can be rectified by being financially responsible and driving safely.
Step 2: Compare price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only quote rates from a single company like GEICO or Allstate, while independent agencies can give you price quotes from multiple sources.
Step 3: Compare the new quotes to the price on your current policy and see if you can save money. If you find a lower rate and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
One thing to point out is that you use the same amount of coverage on each quote request and to quote with as many auto insurance providers as possible. This provides a fair rate comparison and a better comparison of the market.
It’s an obvious conclusion that insurance companies don’t want customers comparing rates. Consumers who get comparison quotes once a year are inclined to buy a different policy because of the high probability of finding a cheaper policy. A study discovered that consumers who compared prices once a year saved about $3,450 over four years as compared to drivers who don’t regularly compare prices.
If saving money on GMC Terrain insurance in Jacksonville is why you’re here, then having some knowledge of the best way to shop and compare car insurance can help simplify the task of finding more affordable coverage.
Facts and figures for GMC Terrain insurance
The information displayed next covers a range of policy rates for GMC Terrain models. Having a better understanding of how policy premiums are figured is important to be able to make smart choices when purchasing an insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Terrain SLE 2WD | $344 | $732 | $460 | $28 | $138 | $1,702 | $142 |
| Terrain SLE AWD | $344 | $732 | $460 | $28 | $138 | $1,702 | $142 |
| Terrain SLT 2WD | $388 | $864 | $460 | $28 | $138 | $1,878 | $157 |
| Terrain SLT AWD | $388 | $864 | $460 | $28 | $138 | $1,878 | $157 |
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Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in Jacksonville location which can impact prices noticeably.
Cost of full coverage
The example below shows the comparison of GMC Terrain insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Florida. Data assumes no claims or driving citations, $100 deductibles, drivers are not married, and no policy discounts are applied.
Deciding between full coverage and liability only
There is no exact formula to exclude physical damage insurance, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s assume your GMC Terrain claim settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after you pay the deductible. If premium cost is more than $400 a year for physical damage coverage, then it might be time to buy liability only.
There are some situations where eliminating full coverage is not recommended. If you still owe money on your vehicle, you must maintain physical damage coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle if your current one is in an accident, you should keep full coverage in place.
Lower Your Jacksonville Insurance Costs
It’s important that you understand a few of the rating criteria that go into determining your premiums. When consumers understand what impacts premium levels, this allows you to make educated decisions that may result in big savings. Many factors are part of the equation when pricing auto insurance. Some of the criteria are obvious like an MVR report, but others are not as apparent like your continuous coverage or how safe your car is.
Alarm systems save money – Choosing to buy a car with advanced anti-theft systems can help bring down rates. Theft prevention devices such as GM’s OnStar, tamper alarm systems and vehicle immobilizers can help prevent auto theft.
Battle of the sexes – Statistics demonstrate that females take fewer risks when driving. Now that doesn’t mean men are worse drivers. Males and females tend to get into accidents in similar percentages, but the males cause more damage and cost insurance companies more money. They also have more aggressive citations like reckless driving and DUI.
The information below shows the difference between GMC Terrain yearly insurance costs for male and female drivers. Data assumes no driving violations, no at-fault accidents, comprehensive and collision coverage, $250 deductibles, drivers are not married, and no discounts are applied.
Do you really need to file that insurance claims? – If you are a frequent claim filer, you should expect increased rates or even have your policy non-renewed. Companies in Florida provide better rates to policyholders who do not file claims often. Your insurance policy is intended for the large, substantial claims.
Your age impacts your costs – More experienced drivers are shown to be more cautious, cost insurance companies less in claims, and are generally more financially stable. Inexperience drivers have a tendency to be easily distracted when at the wheel of a vehicle so they pay higher insurance rates.
The following chart is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.
Insurance rates in urban areas – Residing in less populated areas of the country can save you money when trying to find low car insurance rates. Drivers who live in large cities regularly have traffic congestion and a longer drive to work. Lower population means a lower chance of having an accident and also fewer theft and vandalism claims.
GMC Terrain statistical loss data – Auto insurance companies analyze historical claim data when they calculate premium prices for each model. Vehicles that historically have higher prevalence or dollar amount of losses will have higher rates for specific coverages. The next table illustrates the compiled insurance loss statistics for GMC Terrain vehicles.
For each coverage type, the loss probability for all vehicles as a whole is a value of 100. Numbers shown that are under 100 indicate a favorable loss history, while numbers above 100 indicate more frequent claims or statistically larger claims.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| GMC Terrain 4dr 2WD | 89 | 83 | 81 | 96 | 92 | 86 |
| GMC Terrain 4dr 4WD | 89 | 86 | 85 | 83 | 82 | 74 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
One last note
A few companies may not provide price quotes online and most of the time these regional carriers provide coverage only through local independent agents. Budget-conscious GMC Terrain insurance can be purchased online and with local Jacksonville insurance agents, so you need to compare both so you have a total pricing picture.
We just showed you quite a bit of information on how to shop for GMC Terrain insurance online. The most important thing to understand is the more rate quotes you have, the more likely it is that you will get a better rate. Consumers could even find that the best prices are with some of the smallest insurance companies. Regional companies may often insure only within specific states and give better rates than their larger competitors like Allstate or State Farm.
Even more information can be found by following these links:
- Senior Drivers (Insurance Information Institute)
- Who Has Cheap Jacksonville Car Insurance Rates for Drivers with Good Credit? (FAQ)
- How Much are Auto Insurance Rates for a Toyota Tacoma in Jacksonville? (FAQ)
- How Much are Auto Insurance Quotes for Low Income Drivers in Jacksonville? (FAQ)
- How Does Hitting a Deer Impact Insurance Rates? (Allstate)
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- Distracted Driving Extends Beyond Texting (State Farm)
- Driving in Bad Weather (Insurance Information Institute)