2023 GMC Sierra 1500 Insurance Rates in 2024 – 7 Ideas for Cheapest Quotes

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Jun 6, 2024

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Want better insurance coverage rates for your GMC Sierra 1500? Paying for pricey GMC Sierra 1500 insurance can dry up your monthly budget and force you to tighten up your finances.

Many auto insurance companies compete for your business, and it can be difficult to compare rates to get the cheapest price

If you are paying for car insurance now, you should be able to lower your premiums substantially using this strategy. Choosing the best insurance company for you is not that difficult. But car owners benefit from understanding how the larger insurance companies price insurance differently and take advantage of how the system works.

Cheapest auto insurance quotes

There are multiple methods to compare auto insurance prices but some are easier and takes less work. You can waste hours driving to insurance agencies in your area, or you can stay home and use the internet to maximize your effort.

Many companies belong to a marketplace where prospective buyers send in one quote, and each participating company then returns a price quote based on the submitted data. This saves time by eliminating quote forms to every company.

To find out how much you’re overpaying now enter your zip code here.

One minor caveat to comparing rates this way is you can’t choose the companies you want pricing from. If you would rather choose specific providers to compare, we have a listing of auto insurance companies in your area. Click to enter zip code.

It’s your choice how you get your quotes, but be sure you’re using the exact same coverages for each quote you get. If you compare unequal deductibles or liability limits it will be next to impossible to make a fair comparison for your GMC Sierra 1500. Having just a slight variation in limits could throw off the whole comparison. And when price shopping your coverage, comparing all the rates in your area helps locate more affordable insurance. Not every company provides prices over the internet, so it’s recommended that you also compare rates on coverage from those companies, too.

Seven discounts to earn cheaper auto insurance rates

Not many people think insurance is cheap, but there could be available discounts that may help make it more affordable. Some of these discounts will be visible at quote time, but a few must be inquired about before being credited.

  • Switch and Save Discount – Some larger companies reward drivers for buying a new policy before your current coverage expires. This discount can save up to 10%.
  • Life Insurance Discount – Not all insurance carriers offer life insurance, but some may give you a small discount if you purchase some life insurance in addition to your auto policy.
  • New Vehicle Savings – Putting coverage on a new car can be considerably cheaper due to better safety requirements for newer models.
  • Theft Deterrent System – Vehicles that have factory alarm systems and tracking devices have a lower chance of being stolen and therefore earn up to a 10% discount.
  • Government Employee Discount – Federal government employees can earn a discount up to 10% on Sierra coverage with certain companies.
  • Seat Belts Save more than Lives – Drivers who require all occupants to wear their seat belts can save 10% or more on medical payment and PIP coverage.
  • First Accident Forgiveness – Not really a discount, but some insurance companies will turn a blind eye to one accident without raising rates as long as you don’t have any claims for a certain period of time.

You should keep in mind that some of the credits will not apply to your bottom line cost. Most only apply to individual premiums such as liability and collision coverage. So despite the fact that it appears you can get free auto insurance, companies wouldn’t make money that way.

Large auto insurance companies and the discounts they provide include:

  • State Farm may have discounts that include student away at school, anti-theft, good student, safe vehicle, Steer Clear safe driver discount, and driver’s education.
  • Farmers Insurance has discounts for business and professional, multi-car, distant student, pay in full, and bundle discounts.
  • Progressive discounts include good student, continuous coverage, online signing, online quote discount, homeowner, and multi-vehicle.
  • GEICO may offer discounts for multi-policy, federal employee, membership and employees, defensive driver, multi-vehicle, military active duty, and driver training.
  • Auto-Owners Insurance offers discounts for multi-policy, safe driver, good student, mature driver, group or association, and student away at school.
  • The Hartford includes discounts for driver training, defensive driver, anti-theft, air bag, bundle, and good student.
  • Farm Bureau offers premium reductions for youthful driver, safe driver, multi-policy, good student, driver training, and 55 and retired.
  • USAA policyholders can earn discounts including loyalty savings, new vehicle, multi-policy, safe driver, military installation, and annual mileage.

When getting free insurance quotes, it’s a good idea to all companies you are considering how you can save money. A few discounts might not apply in your state.

Tailor your car insurance coverage to you

When choosing proper insurance coverage, there really is not a perfect coverage plan. Everyone’s situation is unique so this has to be addressed. For instance, these questions could help you determine whether or not you would benefit from an agent’s advice.

  • Why do I need rental car insurance?
  • Is my vehicle covered by my employer’s policy when using it for work?
  • Which is better, split liability limits or combined limits?
  • Are rental cars covered under my policy?
  • What is medical payments coverage?
  • What is UM/UIM insurance?
  • Does insurance cover damages from a DUI accident?

If it’s difficult to answer those questions but you know they apply to you, you might consider talking to a licensed agent. To find an agent in your area, complete your zip code.

Insurance coverages and their meanings

Knowing the specifics of a insurance policy can be of help when determining which coverages you need and proper limits and deductibles. Policy terminology can be impossible to understand and coverage can change by endorsement. Below you’ll find the usual coverages available from insurance companies.

UM/UIM Coverage

Your UM/UIM coverage provides protection when other motorists either are underinsured or have no liability coverage at all. It can pay for injuries to you and your family as well as your vehicle’s damage.

Because many people carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Medical costs insurance

Medical payments and Personal Injury Protection insurance provide coverage for bills like surgery, chiropractic care and nursing services. They can be used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover all vehicle occupants as well as any family member struck as a pedestrian. PIP is only offered in select states and may carry a deductible

Coverage for liability

This protects you from injuries or damage you cause to people or other property that is your fault. This insurance protects YOU from claims by other people. Liability doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 100/300/100 which means a $100,000 limit per person for injuries, a limit of $300,000 in injury protection per accident, and a total limit of $100,000 for damage to vehicles and property.

Liability coverage pays for claims such as emergency aid, court costs and attorney fees. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

Collision insurance

Collision coverage covers damage to your Sierra 1500 resulting from colliding with another car or object. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for things like hitting a mailbox, crashing into a ditch and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so consider dropping it from lower value vehicles. You can also raise the deductible to get cheaper collision coverage.

Comprehensive or Other Than Collision

This coverage covers damage that is not covered by collision coverage. You first have to pay a deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things like hail damage, falling objects and damage from flooding. The maximum payout a insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.

A penny earned…

When you buy insurance online, don’t be tempted to sacrifice coverage to reduce premiums. There have been many cases where an accident victim reduced collision coverage only to regret that their decision to reduce coverage ended up costing them more. The ultimate goal is to purchase a proper amount of coverage for the lowest cost, but don’t skip important coverages to save money.

Throughout this article, we presented quite a bit of information on how to lower your 2023 GMC Sierra 1500 insurance prices. The most important thing to understand is the more rate comparisons you have, the more likely it is that you will get a better rate. You may even discover the biggest savings come from a small mutual company. They can often insure niche markets at a lower cost compared to the large companies like Progressive and GEICO.

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