Best El Paso GMC Terrain Insurance

Insurance rates GMC Terrain in El PasoThe best way to get the cheapest car insurance rates is to start doing a yearly price comparison from different companies who provide car insurance in El Paso.

  1. Spend some time learning about car insurance and the factors you can control to prevent expensive coverage. Many policy risk factors that increase rates such as at-fault accidents, careless driving, and a lousy credit rating can be rectified by making lifestyle changes or driving safer. Continue reading for tips to get low prices and find hidden discounts.
  2. Compare rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like Progressive and State Farm, while agents who are independent can provide prices from many different companies.
  3. Compare the new rates to your existing rates and determine if there is any savings. If you find a better price and decide to switch, make sure coverage is continuous and does not lapse.
  4. Provide notification to your current agent or company of your decision to cancel your current coverage and submit any necessary down payment along with the completed application to your new company or agent. As soon as you can, safely store the proof of insurance certificate in a readily accessible location in your vehicle.

The most important part of shopping around is to try to use the same physical damage deductibles and liability limits on each quote request and and to get quotes from as many carriers as you can. This ensures a level playing field and a good representation of prices.

Shockingly, over 70% of consumers kept buying from the same company for a minimum of four years, and almost half have never compared insurance rates at all. Many drivers in Texas could save almost $1,770 every year just by getting comparison quotes, but they don’t know the large savings they would see if they bought a different policy.

Finding the cheapest coverage in El Paso can be easy if you know a few tricks. If you are insured now or just want cheaper rates, follow these tips to shop for the lowest rates without reducing protection. Smart shoppers only have to learn the most effective way to find the lowest price using one simple form.

The companies shown below provide quotes in El Paso, TX. If the list has multiple companies, it’s a good idea that you compare several of them in order to find the most competitive rates.

Rate information and statistics

The coverage information below highlights a range of insurance coverage prices for GMC Terrain models. Learning how policy rates are determined can aid in making smart choices when comparing insurance rates.

GMC Terrain Insurance Rates in El Paso, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Terrain SLE 2WD $206 $392 $366 $22 $110 $1,096 $91
Terrain SLE AWD $206 $392 $366 $22 $110 $1,096 $91
Terrain SLT 2WD $232 $462 $366 $22 $110 $1,192 $99
Terrain SLT AWD $232 $462 $366 $22 $110 $1,192 $99
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Table data does not factor in vehicle location which can lower or raise insurance rates considerably.

Rate comparison for different deductibles

One frequently asked question is how high should the physical damage deductibles be. The premium rates below may help to conceptualize the costs and benefits when you buy lower versus higher coverage deductibles. The first set of rates uses a $250 comprehensive and collision deductible and the second set of prices uses a $1,000 deductible.

GMC Terrain insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Terrain SLE 2WD $294 $496 $324 $20 $96 $1,255 $105
Terrain SLE AWD $294 $496 $324 $20 $96 $1,255 $105
Terrain SLT 2WD $332 $584 $324 $20 $96 $1,381 $115
Terrain SLT AWD $332 $584 $324 $20 $96 $1,381 $115
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GMC Terrain insurance with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Terrain SLE 2WD $182 $312 $324 $20 $96 $934 $78
Terrain SLE AWD $182 $312 $324 $20 $96 $934 $78
Terrain SLT 2WD $206 $368 $324 $20 $96 $1,014 $85
Terrain SLT AWD $206 $368 $324 $20 $96 $1,014 $85
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Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Premium costs do not factor in specific location information which can modify rates considerably.

Using the data above, we can ascertain that using a $250 deductible could cost the average driver approximately $28 more each month or $336 for a full year averaged for all Terrain models than selecting the higher $1,000 deductible. Because you would pay $750 more if you turn in a claim with a $1,000 deductible as compared to a $250 deductible, if you usually have at a minimum 27 months between claim filings, you would save more money by selecting a higher deductible.

Careless El Paso drivers pay higher rates

The chart below highlights how speeding tickets and accident claims impact GMC Terrain annual premium costs for different age categories. The premiums are based on a married male driver, full coverage, $500 deductibles, and no additional discounts are factored in.

Comparison of car insurance rates by gender

The illustration below illustrates the comparison of GMC Terrain insurance costs for male and female drivers. The rate quotes are based on no claims, a clean driving record, full physical damage coverage, $100 deductibles, marital status is single, and no additional discounts are factored in.

Difference between full coverage and liability only rates

The information below shows the comparison of GMC Terrain insurance prices with and without physical damage coverage. The data assumes no claims or driving citations, $500 deductibles, marital status is single, and no discounts are applied.

When to drop comp and collision

There is no definitive guideline of when to eliminate full coverage on your policy, but there is a general convention. If the annual cost of comprehensive and collision coverage is about 10% or more of the settlement you would receive from your company, then you might want to think about dropping full coverage.

For example, let’s pretend your GMC Terrain claim settlement value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, you would only receive $5,000 after the policy deductible has been paid. If you are currently paying more than $500 annually for your policy with full coverage, then it may be the right time to buy liability only.

There are some situations where only buying liability is not a good plan. If you still have a lienholder on your title, you must maintain physical damage coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should not consider dropping full coverage.

El Paso Insurance Rates are Influenced by These Factors

Multiple criteria are taken into consideration when you get your auto insurance bill. Most are fairly basic like an MVR report, although some other factors are less apparent like where you live or how safe your car is.

The factors shown below are a few of the “ingredients” used by companies to determine your rates.

Vehicle risk affects prices – The type of vehicle you are trying to find cheaper insurance for makes a substantial difference in determining your rates. The lowest premiums will generally be found on economy passenger models, but other factors influence the final cost greatly.

The chart below is based on a married male driver age 20, full coverage with $500 deductibles, and no discounts or violations. It compares GMC Terrain car insurance rates compared to other models of vehicles that have a range of risk factors.

Costs increase with policy add-ons – Insurance policies have a lot of extra bells and whistles that can add up if you aren’t careful. Add-on coverages like roadside assistance, accident forgiveness, and extra life insurance coverage are some examples. The coverages may be enticing when deciding what coverages you need, but your needs may have changed so eliminate them to save money.

Annual mileage impacts prices – The higher the miles on your GMC in a year’s time the higher your rates will be. Most companies calculate rates based upon how the vehicle is primarily used. Vehicles not used for work or commuting can be on a lower rate level as compared to vehicles used primarily for driving to work. Having the wrong rating on your Terrain may be costing you higher rates. Make sure your vehicle rating is rated on the correct usage, because it can save money.

Five star IIHS safety rating saves money – Safer cars tend to have lower insurance rates. Safe vehicles help reduce the chance of injuries in an accident and better occupant protection translates directly to fewer claims and lower rates for you. If your GMC Terrain scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website or four stars on the National Highway Traffic Safety Administration website it may be receiving lower rates.

Small claims can cost you – Companies in Texas generally give lower rates to insureds who are claim-free. If you’re an insured who likes to file claims you can look forward to either policy cancellation or increased premiums. Your car insurance is designed for claims that pose a financial burden.

Insurance loss data for GMC Terrain vehicles – Insurers analyze claim trends for every vehicle to determine a rate that will be profitable for them. Vehicles that statistically have higher frequency or amount of claims will have a higher cost to insure. The next table shows the historical insurance loss data for GMC Terrain vehicles.

For each policy coverage type, the claim amount for all vehicles as a whole is represented as 100. Values under 100 indicate better than average losses, while percentages above 100 indicate frequent claims or larger claims.

Car Insurance Loss Data for GMC Terrain Models
Vehicle Make and 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

Here’s why car insurance is not optional

Despite the high insurance cost for a GMC Terrain in El Paso, insuring your vehicle is a good idea for several reasons.

The benefits of carrying enough insurance are definitely more than the cost, especially when you need to use it. The average driver in America overpays more than $855 a year so you should quote rates once a year at a minimum to make sure the price is not too high.