Unbelievable but true according to a study nearly 70% of customers have remained with the same auto insurance company for four years or more, and about 40% of consumers have never compared auto insurance rates at all. U.S. consumers could save themselves roughly $859 a year, but they won't spend time to go online and compare rates.
If saving the most money is your goal, then the best way to get affordable GMC Canyon insurance is to start comparing rates regularly from insurers in Lubbock. This can be done by following these guidelines.
First, try to learn a little about what coverages are included in your policy and the measures you can take to prevent expensive coverage. Many rating factors that drive up the price such as speeding tickets, careless driving and a low credit score can be eliminated by paying attention to minor details. This article provides more ideas to get cheaper rates and earn a bigger discount.
Second, request price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only quote rates from a single company like GEICO and State Farm, while agents who are independent can give you price quotes from many different companies.
Third, compare the new rate quotes to your existing policy to see if you can save by switching companies. If you find better rates and switch companies, make sure there is no coverage gap between policies.
One thing to remember is to try to use identical deductibles and limits on each quote request and and to compare as many companies as feasibly possible. Doing this enables the most accurate price comparison and plenty of rates choose from.
If you are insured now or are looking for a new policy, follow these tips to reduce premiums without reducing coverage. Quoting and buying the best coverage in Lubbock is not as hard as you think. Consumers just have to learn the least time-consuming way to compare company rates from multiple carriers.
The best way to compare rates for GMC Canyon insurance in Lubbock takes advantage of the fact all the major auto insurance companies pay for the opportunity to give you rate quotes. All consumers are required to do is take a few minutes to give details including which vehicles you own, how much you drive, if you lease or own, and how old drivers are. Your details is automatically sent to multiple companies and they respond with quotes instantly.
If you would like to start a quote now, click here and see if a lower rate is available in Lubbock.
The companies in the list below provide price comparisons in Lubbock, TX. To get cheap auto insurance in Lubbock, it's a good idea that you visit as many as you can to find the most affordable car insurance rates.
GMC Canyon coverage statistics
The table below highlights a range of insurance policy prices for GMC Canyon models. Learning how rates are formulated can be valuable when making informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Canyon SLE Regular Cab 2WD||$152||$290||$496||$30||$148||$1,116||$93|
|Canyon SLE Ext Cab 2WD||$152||$352||$496||$30||$148||$1,178||$98|
|Canyon SLE Ext Cab Z71 2WD||$152||$352||$496||$30||$148||$1,178||$98|
|Canyon SLE Crew Cab 2WD||$152||$352||$496||$30||$148||$1,178||$98|
|Canyon SLE Regular Cab 4WD||$174||$290||$496||$30||$148||$1,138||$95|
|Canyon SLE Crew Cab Z71 2WD||$174||$352||$496||$30||$148||$1,200||$100|
|Canyon SLT Ext Cab 2WD||$174||$352||$496||$30||$148||$1,200||$100|
|Canyon SLE Ext Cab 4WD||$174||$290||$496||$30||$148||$1,138||$95|
|Canyon SLT Crew Cab 2WD||$174||$416||$496||$30||$148||$1,264||$105|
|Canyon SLE Ext Cab Z71 4WD||$174||$352||$496||$30||$148||$1,200||$100|
|Canyon SLE Crew Cab 4WD||$198||$352||$496||$30||$148||$1,224||$102|
|Canyon SLE Crew Cab Z71 4WD||$198||$352||$496||$30||$148||$1,224||$102|
|Canyon SLT Crew Cab 4WD||$198||$352||$496||$30||$148||$1,224||$102|
|Canyon SLT Ext Cab 4WD||$198||$352||$496||$30||$148||$1,224||$102|
|Get Your Own Custom Quote Go|
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Price estimates do not factor in vehicle location which can increase or decrease rates substantially.
Does it make sense to buy full coverage?
The chart below visualizes the comparison of GMC Canyon premium costs with and without physical damage coverage. The premiums are based on a clean driving record, no at-fault accidents, $250 deductibles, single status, and no discounts are applied.
Should you buy full coverage or liability only?
There is no clear-cut formula of when to exclude comp and collision coverage, but there is a general convention. If the yearly cost for physical damage coverage is 10% or more of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.
For example, let's pretend your GMC Canyon replacement cost is $6,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company will settle for is $5,000 after paying the physical damage deductible. If you are paying in excess of $500 annually to have full coverage, then it's probably a good time to buy liability coverage only.
There are some conditions where only buying liability is not in your best interest. If you still have a lienholder on your title, you have to keep full coverage in order to prevent your loan from defaulting. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.
Do you qualify for discounts on GMC Canyon insurance in Lubbock?
Auto insurance can be pricey, but you can get discounts to help bring down the price. Larger premium reductions will be automatically applied at the time you complete a quote, but occasionally some discounts must be asked about before you get the savings.
- Discounts for Multiple Vehicles - Insuring multiple cars or trucks on one policy can reduce the rates for all insured vehicles.
- Safety Course Discount - Successfully completing a defensive driving course is a good idea and can lower rates and also improve your driving technique.
- Lower Rates for Military - Having a family member in the military may lower your auto insurance rates slightly.
- Anti-lock Brake Discount - Cars, trucks, and SUVs with ABS and/or traction control have fewer accidents so you can save 10 percent or more.
- Resident Student - College-age children who live away from home to go to college and leave their car at home could qualify for this discount.
- Savings for New Vehicles - Buying a new car instead of a used Canyon can get you a discount because new vehicles are generally safer.
- Discount for Life Insurance - Larger insurance carriers have a discount if you purchase life insurance.
- Low Mileage Discounts - Low annual miles could earn discounted auto insurance rates on garaged vehicles.
You should keep in mind that most discounts do not apply to the entire cost. Most only reduce specific coverage prices like medical payments or collision. Despite the appearance that you would end up receiving a 100% discount, you're out of luck. But all discounts will definitely lower your overall premium however.
The diagram below compares GMC Canyon insurance rates with and without discounts applied to the policy rates. The costs are based on a female driver, no tickets, no at-fault accidents, Texas state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, claim-free, multi-car, safe-driver, multi-policy, and homeowner discounts applied.
If you would like to view auto insurance companies that provide some of the discounts listed above in Texas, follow this link.
Choosing the best Canyon insurance in Texas is an important decision
Even though Lubbock Canyon insurance rates can get expensive, maintaining insurance is mandatory in Texas but it also protects more than you think.
- The majority of states have compulsory liability insurance requirements which means you are required to buy a specific minimum amount of liability insurance coverage in order to drive the car. In Texas these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If your GMC has a lienholder, most banks will have a requirement that you have physical damage coverage to ensure they get paid if you total the vehicle. If you do not keep the policy in force, the bank may buy a policy for your GMC for a much higher rate and force you to reimburse them for the expensive policy.
- Auto insurance preserves your GMC and your assets. It will also cover medical expenses incurred in an accident. Liability insurance, one of your policy coverages, will also pay to defend you in the event you are sued. If your car is damaged in a storm or accident, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.
The benefits of carrying adequate insurance greatly outweigh the cost, particularly for liability claims. According to a survey of 1,000 drivers, the average driver is overpaying over $810 a year so it's very important to do a rate comparison at least once a year to make sure the price is not too high.
You may need specialized insurance coverage
Keep in mind that when it comes to choosing the best insurance coverage for your personal vehicles, there really is no cookie cutter policy. Coverage needs to be tailored to your specific needs so this has to be addressed. For instance, these questions may help you determine whether or not you might need professional guidance.
- Does my car insurance cover rental cars?
- When should I not buy collision coverage?
- Do I need to file an SR-22 for a DUI in Texas?
- How do I buy GAP insurance?
- Why is insurance for a teen driver so high in Lubbock?
- Can my babysitter drive my car?
- Does my policy cover me if I wreck while driving under the influence?
If it's difficult to answer those questions but you think they might apply to your situation, you might consider talking to an agent. If you want to speak to an agent in your area, take a second and complete this form or click here for a list of insurance companies in your area. It only takes a few minutes and may give you better protection.
Get rate quotes but still have a local Lubbock insurance agent
Many people just prefer to sit down and talk to an agent and that is a personal choice. Good insurance agents can help you build your policy and help file insurance claims. One of the great benefits of getting free rate quotes online is that you can obtain lower rates and also buy local.
After completing this short form, the coverage information gets sent to companies in Lubbock who want to provide quotes for your business. There is no reason to find an agent on your own since rate quotes are delivered to you. If you have a need to compare rates from a specific company, don't hesitate to find their quoting web page and complete a quote there.
Finding a good company requires you to look at more than just the price. Before buying a policy in Lubbock, get answers to these questions.
- Are claim adjusters local or do you have to take your car somewhere else?
- Are all drivers listed on the coverage quote?
- Will their companies depreciate repairs to your car based on the mileage?
- Will they give you a referral list?
- Is the agent properly licensed in Texas?
- How much training do they have in personal risk management?
- Can they help ensure a fair claim settlement?
Shown below are Lubbock insurers who can help you get price quotes for GMC Canyon insurance in Lubbock.
- Ana Borrego - State Farm Insurance Agent
8001 Quaker Ave STE G - Lubbock, TX 79424 - (806) 745-2555 - View Map
- All Write Insurance Agency
2413 20th St - Lubbock, TX 79411 - (806) 763-2886 - View Map
- Lubbock AllState Agent
2312 19th St - Lubbock, TX 79401 - (806) 412-1471 - View Map
- Alan Henry Insurance Agency
3405 19th St - Lubbock, TX 79410 - (806) 792-3771 - View Map
Upon receiving good feedback for all questions you ask as well as a price you're happy with, you may have found an insurer that is a good match to provide insurance coverage. Just understand that it's your coverage and you can cancel a policy for any reason so don't assume you're contractually obligated to any specific agency for a certain time period.
Detailed coverages of your auto insurance policy
Understanding the coverages of your auto insurance policy helps when choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Shown next are typical coverages available from auto insurance companies.
Medical costs insurance
Coverage for medical payments and/or PIP kick in for bills such as rehabilitation expenses, ambulance fees, funeral costs, dental work and nursing services. They can be used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants and also covers getting struck while a pedestrian. PIP is only offered in select states and may carry a deductible
Comprehensive or Other Than Collision
This coverage pays for 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 insurance covers claims such as rock chips in glass, falling objects and hail damage. The highest amount a auto insurance company will pay at claim time is the actual cash value, so if the vehicle's value is low consider dropping full coverage.
This coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. It can pay for hospital bills for your injuries and also any damage incurred to your GMC Canyon.
Since many Texas drivers only carry the minimum required liability limits (which is 30/60/25), their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea.
Auto liability insurance
Liability coverage provides protection from injuries or damage you cause to other people or property in an accident. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 30/60/25 which means a limit of $30,000 per injured person, a total of $60,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.
Liability insurance covers things like funeral expenses, attorney fees and repair costs for stationary objects. How much liability should you purchase? That is a decision to put some thought into, but you should buy as large an amount as possible. Texas requires minimum liability limits of 30/60/25 but you should think about purchasing better liability coverage.
The next chart demonstrates why buying the state minimum limits may not provide adequate coverage.
Collision coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You have to pay a deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers claims like backing into a parked car, colliding with another moving vehicle, colliding with a tree and crashing into a ditch. Collision coverage makes up a good portion of your premium, so consider removing coverage from vehicles that are 8 years or older. You can also bump up the deductible on your Canyon to bring the cost down.