Have you fallen victim to high-priced GMC Terrain insurance in Lincoln? Say no more because there are lots of people in the same boat.
Statistics show that the vast majority of insurance customers renewed their policy with the same company for at least the last four years, and almost half have never shopped around. Many consumers in Nebraska can cut their rates by about 30% a year by just comparing quotes, but they don’t understand how simple it is to compare rates online.
Numerous auto insurance companies battle to insure your vehicles, so it can be very hard to choose a insurer to get the lowest cost out there.
It’s important to price shop coverage before your next renewal due to the fact that insurance prices fluctuate regularly. Just because you found the best deal on GMC Terrain insurance in Lincoln a few years ago there may be better deals available now. Forget anything you know (or think you know) about insurance because you’re about to learn the only way to buy cheaper GMC Terrain insurance in Lincoln.
If you currently have a car insurance policy, you will surely be able to get lower rates using these tips. Buying the cheapest car insurance in Lincoln is much easier if you know where to start. Nevertheless, Nebraska consumers must understand how insurance companies calculate your policy premium and take advantage of how the system works.
Four Things That Influence Your Insurance Rates
Part of the car insurance buying process is learning some of the things that aid in calculating the level of your policy premiums. If you know what positively or negatively impacts your premiums, this allows you to make good choices that may reward you with big savings.
The itemized list below are some of the major factors used by insurance companies to determine your rate level.
Never let your car insurance expire – Allowing your car insurance policy to lapse is a sure-fire way to pay more for car insurance. And not only will insurance be more expensive, not being able to provide proof of insurance may result in a steep fine or even jail time. You may have to provide proof of insurance in the form of an SR-22 filing with the Nebraska DMV.
Your location is a factor – Residing in small towns and rural areas has it’s advantages when it comes to car insurance. Fewer people translates into fewer accidents as well as less vandalism and auto theft. Urban drivers regularly have more traffic problems and more severe claims. The longer drive time translates into higher accident risk.
The higher your credit score the lower your premiums – Credit history is likely to be a major factor in calculating your car insurance rates. Therefore, if your credit rating is low, you may save money insuring your GMC Terrain by spending a little time repairing your credit. Insureds that have high credit scores tend to be better risks to insure than drivers with lower credit scores.
Better drivers pay lower prices – Getting just one driving citation can bump up the cost by twenty percent. Careful drivers pay less for auto insurance than people who have multiple driving citations. Drivers who have license-revoking violations such as DWI, reckless driving or hit and run convictions might be required by their state to submit a SR-22 or proof of financial responsibility with their state motor vehicle department in order to drive a vehicle legally.
The diagram below highlights how speeding tickets and at-fault collisions raise GMC Terrain annual premium costs for different age categories. The data is based on a single female driver, full coverage, $1,000 deductibles, and no other discounts are factored in.
Insurance loss data for a GMC Terrain – Insurance companies use data from past claims to calculate a rate that will offset any claims. Vehicles that statistically have higher claim frequency or loss amount will have higher premium rates.
The table below illustrates the insurance loss data for GMC Terrain vehicles. For each coverage category, the statistical loss for all vehicles, regardless of manufacturer or model, equals 100. Percentage numbers below 100 imply a favorable loss record, while numbers above 100 indicate more frequent claims or an increased probability of a larger loss.
| 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
Analysis of GMC Terrain rates
The premium table below covers a range of policy rates for GMC Terrain models. Having a good grasp of how insurance prices are established can help drivers make informed purchases.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Terrain SLE 2WD | $258 | $480 | $344 | $20 | $102 | $1,204 | $100 |
| Terrain SLE AWD | $258 | $480 | $344 | $20 | $102 | $1,204 | $100 |
| Terrain SLT 2WD | $290 | $566 | $344 | $20 | $102 | $1,322 | $110 |
| Terrain SLT AWD | $290 | $566 | $344 | $20 | $102 | $1,322 | $110 |
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Above prices assume single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Nebraska minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Information does not factor in Lincoln location which can influence insurance rates considerably.
Male drivers versus female drivers
The illustration below visualizes the comparison of GMC Terrain car insurance costs for male and female drivers. The premium estimates are based on no accidents, no driving violations, full coverage, $100 deductibles, single marital status, and no discounts are taken into consideration.
Get cheaper rates with discounts
Not too many consumers would say insurance is affordable, but you may qualify for discounts that many people don’t even know exist. Certain discounts will be applied when you quote, but a few need to be requested specifically prior to receiving the credit.
- Smart Student Discounts – Performing well in school may save as much as 25% on a Lincoln auto insurance quote. The good student discount can last well after school through age 25.
- Online Discount – Some of the larger companies give back up to $50 get Lincoln auto insurance over the internet.
- Bundle and Save – If you insure your home and vehicles with the same insurance company you may save as much as 10 to 15 percent.
- ABS and Traction Control Discounts – Cars, trucks, and SUVs with ABS and/or traction control can stop better under adverse conditions and therefore earn up to a 10% discount.
- College Student Discount – Any of your kids who are enrolled in a college that is more than 100 miles from Lincoln and do not have access to a covered vehicle can be insured at a reduced rate.
- No Charge for an Accident – Not a discount per se, but companies like Liberty Mutual, Allstate and State Farm will let one accident slide before hitting you with a surcharge if you have no claims for a particular time prior to the accident.
- Military Deployment Discount – Being on active deployment in the military could trigger a small discount.
As a disclaimer on discounts, most credits do not apply to all coverage premiums. Some only apply to specific coverage prices like comprehensive or collision. So even though they make it sound like all the discounts add up to a free policy, it doesn’t quite work that way.
The information below visualizes the comparison of GMC Terrain insurance costs with and without policy discounts. The premium estimates are based on a female driver, no tickets, no at-fault accidents, Nebraska state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, safe-driver, multi-policy, homeowner, marriage, and multi-car discounts applied.
The best insurance companies and a partial list of their discounts can be read below.
- Farm Bureau may have discounts that include good student, safe driver, renewal discount, multi-vehicle, youthful driver, 55 and retired, and driver training.
- Liberty Mutual includes discounts for new vehicle discount, new move discount, hybrid vehicle, good student, and teen driver discount.
- State Farm offers discounts including Drive Safe & Save, student away at school, multiple autos, safe vehicle, good driver, and passive restraint.
- Auto-Owners Insurance may include discounts for student away at school, company car, air bags, teen driver, and group or association.
- GEICO has savings for defensive driver, air bags, anti-theft, five-year accident-free, military active duty, daytime running lights, and emergency military deployment.
- SAFECO offers premium reductions for multi-car, bundle discounts, teen safe driver, drive less, anti-theft, accident prevention training, and safe driver.
Before you buy a policy, ask each insurance company which discounts they offer. Savings may not apply in Lincoln.
Nebraska car insurance companies ranked
Selecting the top car insurance company is difficult considering how many different companies sell coverage in Nebraska. The company information in the next section may help you pick which auto insurance companies you want to consider shopping prices with.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 99 | 100 | 90 | 92% | A++ | 97.4 |
| 21st Century | 89 | 86 | 100 | 88% | A | 92.7 |
| GEICO | 97 | 91 | 88 | 85% | A++ | 92.5 |
| Nationwide | 88 | 94 | 91 | 88% | A+ | 91.3 |
| AAA Insurance | 93 | 87 | 88 | 87% | A | 90.8 |
| Liberty Mutual | 91 | 91 | 92 | 87% | A | 90.7 |
| Safeco Insurance | 90 | 93 | 88 | 86% | A | 90.2 |
| State Farm | 91 | 94 | 80 | 88% | A++ | 90.2 |
| Travelers | 89 | 91 | 94 | 79% | A++ | 90.1 |
| American Family | 88 | 92 | 83 | 88% | A | 89.4 |
| Allstate | 90 | 90 | 84 | 85% | A+ | 89.1 |
| Progressive | 83 | 85 | 99 | 87% | A+ | 88.7 |
| The Hartford | 87 | 89 | 84 | 87% | A+ | 88 |
| Esurance | 84 | 88 | 85 | 83% | A+ | 86 |
| Farmers Insurance | 79 | 88 | 84 | 87% | A | 84.7 |
| The General | 88 | 80 | 85 | 80% | A- | 84.5 |
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Data Source: Insure.com Best Car Insurance Companies
Find affordable rates by being thorough
We just presented a lot of information how to save on GMC Terrain insurance in Lincoln. The key concept to understand is the more quotes you get, the better chance you’ll have of finding the cheapest GMC Terrain rate quotes. Drivers may even discover the most savings is with the least-expected company. They may have significantly lower car insurance rates on certain market segments than the large multi-state companies such as State Farm or Progressive.
Lower-priced GMC Terrain insurance in Lincoln is definitely available from both online companies as well as from independent agents in Lincoln, so get free Lincoln auto insurance quotes from both of them in order to have the best chance of saving money. Some insurance providers don’t offer price quotes online and many times these regional insurance providers work with independent agencies.
Steps to buying low-cost GMC Terrain insurance in Lincoln
If you want to find the absolute lowest rates, then the best way to find affordable car insurance rates is to compare prices at least once a year from companies who provide car insurance in Lincoln. Price quotes can be compared by following these guidelines.
First, learn about individual coverages and the modifications you can make to keep rates low. Many rating criteria that are responsible for high rates like inattentive driving and a poor credit score can be controlled by making small lifestyle or driving habit changes.
Second, obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from one company like Progressive or State Farm, while independent agents can give you price quotes for many different companies.
Third, compare the new rate quotes to the price on your current policy and determine if there is any savings. If you find a lower rate and decide to switch, ensure there is no coverage lapse between policies.
Fourth, notify your current company of your intention to cancel your current auto insurance policy and submit a down payment along with a signed application for the new policy. Once received, put the certificate of insurance in an accessible location in your vehicle.
One tip to remember is to try to use the same liability limits and deductibles on each price quote and and to get rate quotes from as many companies as possible. This guarantees an apples-to-apples comparison and the best price quote selection.
More learning opportunities
- What is a Telematics Device? (Allstate)
- What Insurance is Cheapest for Postal Workers in Lincoln? (FAQ)
- Who Has Affordable Lincoln Car Insurance for Low Credit Scores? (FAQ)
- Rental Car Insurance Tips (Insurance Information Institute)
- Prepare your Teens for Safe Driving (InsureUonline.org)
- Five Mistakes to Avoid (Insurance Information Institute)