Cheapest 1998 GMC Sierra 1500 Insurance Rates in 2023
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UPDATED: May 12, 2022
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Paying for high-priced 1998 Sierra 1500 insurance can take a big chunk out of your bank account and force you to make sacrifices. Shopping your coverage around is a smart way to slash your bill and have more disposable income. Because there are so many options, it is very difficult to find the best insurer.
It’s important to take a look at other company’s rates before your policy renews due to the fact that insurance rates change regularly. If you had the lowest price for Sierra coverage on your last policy, there may be better deals available now. Forget all the misinformation about car insurance because I’m going to let you in on the secrets to how to use online quotes to find better coverage at a better price.
The purpose of this article is to help educate you on the best way to quote coverage and some tricks to saving. If you are paying for car insurance now, you will most likely be able to reduce your rates substantially using this information. Drivers just need to know the proper way to get comparison quotes over the internet.
1998 GMC Sierra 1500 Insurance rates can be determined by these details
Consumers need to have an understanding of the factors that play a part in calculating insurance rates. Understanding what determines base rates helps enable you to make changes that will entitle you to big savings.
Shown below are a few of the “ingredients” that factor into prices.
- Safer cars are cheaper to insure – Vehicles with high crash test scores tend to have better insurance rates. Safe vehicles protect occupants better and any reduction in injury severity means lower claim amounts and more competitive rates for policyholders. If your GMC scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website, you may qualify for a discount.
- Do you know your credit rating? – A driver’s credit score is a important factor in your rate calculation. So if your credit history is lower than you’d like, you could potentially save money when insuring your 1998 GMC Sierra 1500 by improving your rating. People with high credit scores tend to be more responsible than drivers with poor credit.
- The more you drive, the more you pay – The more miles you rack up on your GMC in a year’s time the higher your rates will be. Most companies price each vehicle’s coverage determined by how the vehicle is used. Autos used primarily for pleasure use qualify for better rates compared to those used for work or business. If your policy is improperly rated, your Sierra 1500 can cost quite a bit. Double check that your insurance policy is rated on how each vehicle is driven.
- Don’t let your coverage lapse – Allowing your coverage to lapse is a fast way to trigger a rate increase. Not only will rates go up, but being ticketed for driving with no insurance may earn you a steep fine or even jail time.
- Your job and insurance rates – Did you know your occupation can influence how much you pay for insurance? Careers like lawyers, business owners and financial analysts tend to pay higher average rates in part because of job stress and long work days. Conversely, professions such as farmers, engineers and homemakers have the lowest average rates for Sierra coverage.
- Extra coverage can waste money – There are a ton of extra bells and whistles that you can get tricked into buying on your insurance policy. Things like rental car reimbursement, accidental death and membership fees may cost you every month. These coverages may sound good initially, but your needs may have changed, so remove them from your policy.
- Rural vs Urban Areas – Choosing to live in a rural area is a positive aspect when buying insurance. Drivers in populated areas have more traffic problems and a longer drive to work. Fewer people living in that area translates into fewer accidents as well as less vandalism and auto theft.
Compare Quotes for Auto Insurance
There are a lot of ways to compare auto insurance prices, but there is one way that is less time-consuming than others. You could spend your day talking to agents in your area, or you could save time and use online quotes to get rate comparisons in just a few minutes.
The majority of car insurance companies participate in an industry program where insurance shoppers enter their policy data once, and at least one company then gives them pricing based on that information. This eliminates the need for repetitive form submissions for each company.
The only drawback to doing it this way is that buyers cannot specifically choose the insurers to receive prices from. So if you prefer to choose individual companies to request quotes from, we have a listing of the cheapest auto insurance companies in your area. View list of insurance companies.
It’s your choice how you get your quotes, but double check that you are using exactly the same information with each company. If each company quotes higher or lower deductibles than you won’t be able to truly determine the lowest rate.
Can you really save $390 a year on 1998 GMC Sierra 1500 Insurance?
Consumers constantly see and hear ads that promise big savings from companies such as Progressive, GEICO, Allstate and State Farm. All companies make the same claim about savings if you switch your policies.
How do they all claim to save you money? This is how they do it.
Insurance companies are able to cherry-pick the type of driver that makes them money. For example, a desirable insured might be over the age of 40, owns a home, and has a high credit rating. A driver who matches those parameters will get very good rates and, as a result, will probably save when switching.
Consumers who don’t measure up to the “perfect” profile will be quoted a more expensive rate and this can result in business not being written. The ads state “people who switch” not “everybody who quotes” save that kind of money. That is how insurance companies can confidently claim big savings.
This emphasizes why drivers should get as many quotes as possible. It’s not possible to predict the company that will fit your personal profile best.
Discounts can save BIG
Car insurance is not cheap, but you may find discounts to cut the cost considerably. Certain discounts will be triggered automatically when you quote, but some must be manually applied in order for you to get them. If you don’t get every credit available, you’re paying more than you need to.
- Airbag Discount – Cars that have air bags or automatic seat belts can receive discounts of up to 25% or more.
- Homeowners Pay Less – Being a homeowner can save you money because owning a home is proof that your finances are in order.
- No Charge for an Accident – Certain companies will forgive one accident before your rates go up if your claim history is clear prior to the accident.
- No Accidents – Claim-free drivers pay less than compared to frequent claim filers.
- Life Insurance – Larger companies have a discount if you purchase life insurance from them.
- Pay Upfront and Save – If you pay your policy premium upfront instead of paying each month, you could save 5% or more.
- Seat Belt Usage – Drivers who require all occupants to buckle their seat belts could save 15% off their medical premium.
- Discounts for Safe Drivers – Drivers who don’t get into accidents can pay as much as 50% less for Sierra coverage than drivers with accident claims.
- Military Rewards – Having a deployed family member may qualify for rate reductions.
Keep in mind that most of the big mark-downs will not be given to the entire cost. Some only apply to the price of certain insurance coverage like medical payments or collisions. Just because you may think you could get a free insurance policy, it just doesn’t work that way. But any discount will reduce your premiums.
Will just any policy work for me?
When buying coverage for your personal vehicles, there really is not a one size fits all plan. Every insured’s situation is different, and your policy should reflect that. For example, these questions can help discover whether your personal situation will benefit from professional help.
- Does my car insurance cover rental cars?
- Does my insurance cover a custom paint job?
- What is the minimum liability in my state?
- When do I need to add a new car to my policy?
- Why do I only qualify for high-risk insurance?
- How much liability do I need to cover my assets?
- Should I file a claim if it’s only slightly more than my deductible?
- Should I buy only the required minimum liability coverage?
What insurance coverages do you need for a 1998 GMC Sierra 1500 Insurance?
Having a good grasp of your policy aids in choosing the right coverage and proper limits and deductibles. Insurance terms can be difficult to understand and even agents have difficulty translating policy wording. These are typical coverage types found on most insurance policies.
Coverage for medical expenses
Med pay and PIP coverage reimburse you for expenses like pain medications, chiropractic care and X-ray expenses. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants as well as if you are hit while walking down the street. Personal injury protection coverage is not an option in every state, but it provides additional coverage not offered by medical coverage.
Collision coverage protection
This coverage covers damage to your Sierra 1500 resulting from colliding with an object or car. A deductible applies and then insurance will cover the remainder.
Collision can pay for things like damaging your car on a curb, crashing into a ditch, crashing into a building, rolling your car and sideswiping another vehicle. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. It’s also possible to increase the deductible to get cheaper collision coverage.
Liability insurance can cover damage that occurs to people or other property by causing an accident. This insurance protects YOU against claims from other people, and doesn’t cover damage sustained by your vehicle in an accident.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, a per accident bodily injury limit of $300,000, and property damage coverage for $100,000. Another option is a combined limit which provides one coverage limit with no separate limits for injury or property damage.
Liability coverage protects against things like pain and suffering, structural damage, repair bills for other people’s vehicles and loss of income. How much coverage you buy is up to you, but its cheap coverage, so purchase as high a limit as you can afford.
This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. A deductible will apply, then your comprehensive coverage will be paid.
Comprehensive coverage protects against things like damage from flooding, a tree branch falling on your vehicle and rock chips in glass. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if it’s not worth much more than your deductible consider removing comprehensive coverage.
Coverage for uninsured or underinsured drivers
This gives you protection from other drivers when they do not carry enough liability coverage. Covered losses include injuries to you and your family as well as damage to your 1998 GMC Sierra 1500.
Since many drivers only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage is a good idea. Frequently, these coverages are set the same as your liability limits.
Take this to the bank
When you buy insurance online, you should never reduce needed coverage to save money. There are a lot of situations where consumers will sacrifice full coverage and learned later that saving that couple of dollars actually costs them tens of thousands. The proper strategy is to buy enough coverage at the best price, to protect the value of your 1998 GMC Sierra 1500, not the least amount of coverage.
In this article, we covered some good ideas on how to compare 1998 GMC Sierra 1500 insurance prices online. The most important thing to understand is that the more price quotes you have, the better your chances of lowering your rates. Drivers may discover the lowest premiums are with an unexpected company. Some small companies can often insure niche markets at a lower cost as compared to the big – name companies such as State Farm, GEICO and Nationwide.
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