Buying affordable auto insurance for a GMC Sierra in Wisconsin is pretty easy for most people, but it relies on many rating factors such as whether you are married or single, your profession, and any driving offenses on your record. Drivers pay approximately $811 a year for Sierra insurance, but that figure is an estimation calculated using a 30-year-old married male driver with full coverage and $250 deductibles.
Odds are that you're not a 30-year-old male, single instead of married, and you may just want the cheapest liability coverage you can find. Auto insurance is unique to each driver, so the best way to find the cheapest insurance price for your GMC is to just compare rates yourself. Quotes only take a couple of minutes and you will receive price comparisons from the best companies that offer coverage in Wisconsin.
The trim level of your Sierra will be a contributing factor to the insurance rate, so the rate you pay to insure a Sierra SLE Regular Cab 2WD model will be $152 cheaper than the cost to insure the more costly Sierra Denali Crew Cab 4WD version, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Sierra SLE Regular Cab 2WD||$178||$300||$230||$14||$68||$790||$66|
|Sierra SL Extended Cab 2WD||$178||$300||$230||$14||$68||$790||$66|
|Sierra SLE Crew Cab 2WD||$178||$300||$230||$14||$68||$790||$66|
|Sierra SL Crew Cab 2WD||$200||$352||$230||$14||$68||$864||$72|
|Sierra SLE Crew Cab 2WD||$200||$352||$230||$14||$68||$864||$72|
|Sierra SLE Regular Cab 4WD||$200||$352||$230||$14||$68||$864||$72|
|Sierra SLE Extended Cab 4WD||$200||$352||$230||$14||$68||$864||$72|
|Sierra SLE Crew Cab 4WD||$200||$352||$230||$14||$68||$864||$72|
|Sierra SLT Extended Cab 2WD||$200||$352||$230||$14||$68||$864||$72|
|Sierra SL Crew Cab 4WD||$200||$352||$230||$14||$68||$864||$72|
|Sierra SLT Extended Cab 4WD||$200||$352||$230||$14||$68||$864||$72|
|Sierra SLT Crew Cab 2WD||$200||$352||$230||$14||$68||$864||$72|
|Sierra SLT Crew Cab 4WD||$224||$406||$230||$14||$68||$942||$79|
|Sierra Denali Crew Cab 2WD||$224||$406||$230||$14||$68||$942||$79|
|Sierra Denali Crew Cab 4WD||$224||$406||$230||$14||$68||$942||$79|
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Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, safe-driver, and claim-free. Premium amounts do not factor in the specific area where the vehicle is garaged which can modify premium rates substantially.
Finding budget car insurance is tough enough, and deciding which company has the most affordable insurance rates for a GMC Sierra requires more quotes for comparison. Every insurance company has their own process for establishing rates, so let's begin by examining the insurance companies that tend to be cheaper in Madison.
Find Cheaper Car Insurance for Your Truck
|Rank||Company||Cost Per Year|
|6||Rural Mutual Insurance||$772|
|11||West Bend Mutual||$899|
|15||Auto Club Group||$948|
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USAA offers some of the most affordable car insurance rates in Madison at around $586 per year. Partners Mutual, Erie, Rockford Mutual, and Nationwide also rank well as some of the cheapest Madison, WI car insurance companies.
As shown above, if you are currently insured with Partners Mutual and switched to USAA, you could earn an annual premium reduction of about $40. Wisconsin drivers with Erie might save as much as $138 a year, and Rockford Mutual insureds might see rate reductions of $168 a year.
It's important to note that these premium estimates are averages for all insureds and vehicles and do not take into consideration a vehicle location for a GMC Sierra. So the car insurance company that has the lowest price for you may not even be in the top 30 companies shown above. That emphasizes why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
The illustration below highlights how deductible selection can increase or decrease insurance rates when quoting cheap insurance for a GMC Sierra. The premium estimates are based on a married male driver, comp and collision included, and no additional discounts are factored in.
The chart above illustrates that a 40-year-old driver could cut expenses by $224 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $338 by choosing a $1,000 deductible. Younger drivers, such as the 20-year-old example, could drop their prices $746 every year just by choosing larger deductibles.
When insureds make the decision to increase the deductibles on their policy, it is necessary to have additional savings on hand to cover the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.
Does full coverage make sense?
Buying cheaper insurance is probably important to most drivers, and a good way to buy cheap insurance for a GMC Sierra is to only buy liability insurance. The example below shows the comparison of car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premiums are based on a clean driving record, no claims, $500 deductibles, single marital status, and no discounts are applied.
If all age groups are averaged, comp and collision coverage costs an extra $1,291 per year over and above liability only. That is a significant amount which raises the question when is it safe to stop buying full coverage. There is no exact formula for phasing out full coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is about 10% or more of any settlement you would receive from your insurance company, then it's probably a good time to buy liability coverage only.
For example, let's say your vehicle's settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $8,000 after paying your deductible. If it's costing you more than $800 annually for your policy with full coverage, then you might consider buying liability only.
There are some circumstances where only buying liability is not financially feasible. If you still have a lienholder on your title, you are required to maintain full coverage to protect the lienholder's interest. Also, if you can't afford to buy a different vehicle if your current one is in an accident, you should keep full coverage on your policy.
Low rates today, overpriced tomorrow
Madison, WI insurance rates are calculated based on many things that can increase the price you pay for coverage. Simply improving your credit, buying another vehicle, or getting a ticket for careless driving may cause policy rate changes that can now make some companies cheaper than competitors. Also, car insurance companies modify rates as needed in order to be able to pay unexpected claims. An extended period of higher than normal claims can cause rate hikes, while profitable underwriting can result in lower-priced Sierra insurance rates.
To illustrate this point, the chart below shows a variety of companies that have the cheapest car insurance in Madison, WI for a 40-year-old female driver with no prior claims, no tickets, and a high credit rating. When comparing rates based on her current risk factors, USAA offers the lowest car insurance rates in Madison at $666 annually. This is $495 less than the average rate paid by Wisconsin drivers of $1,161. Partners Mutual, Erie, Rockford Mutual, and Nationwide are the remaining top five cheapest Madison, WI auto insurance companies.
The chart below compares rates after we give the driver from the first rate comparison a claim, a lower credit rating, and a blemish on her driving record. Since every insurance provider uses their own method for determining prices, comparing prices will most likely result in a completely different list of the cheapest companies as shown below.
Pekin Insurance now has the cheapest car insurance in Madison with Western National, Integrity Mutual, Travelers, and Partners Mutual also being competitive. This example proves why Wisconsin drivers need to perform an extensive rate comparison to get the most economical car insurance quotes for a GMC Sierra.
Auto insurance prices can be altered by many factors and change substantially, so the cheapest rate two years ago may now be wasting a lot of money.
How to find low-cost auto insurance for a GMC Sierra
Here are some of the recommended penny-pinching suggestions that can help Madison drivers get low-cost coverage.
- Buy a safer vehicle
- Raise deductibles
- Prevent price hikes by avoiding at-fault accidents
- Higher credit scores may earn you cheaper rates
- Remove physical damage coverage on older vehicles
- Speeding tickets and other violations increase rates
- Compare prices as often as possible
The last item on the list is very critical, as we emphasized in the article above. Coverage prices fluctuate constantly, so you should be ready to change to a new company if you can save money.
Having brand loyalty is commendable, but is isn't recommended if that stubbornness costs you money that could be used for better things. If you have a few minutes, now is a great time to compare rates to find cheaper insurance for a GMC Sierra in Madison.
The insurance agencies listed below can help you determine which auto insurance policy fits you best, since some people prefer to get some guidance when shopping for cheaper insurance for a Sierra pickup. It can be complicated to find the best policy on your own, so getting advice from a licensed Wisconsin insurance agent can provide peace of mind knowing your coverage gives you enough coverage when you need it.
To find a Madison insurance agency closest to you, click the button at the bottom of the list or click here to compare price quotes.
- Abacus-Bertz Financial
6417 Odana Rd Suite 13 - Madison, WI 53719 - (608) 238-5800
- American Family Insurance - Yolanda Grajales-Sutter
7878 Big Sky Dr Ste I - Madison, WI 53719 - (608) 826-4518
- M3 Insurance
828 John Nolen Dr - Madison, WI 53713 - (608) 273-0655
- The Curtis Agency
2929 Atwood Ave - Madison, WI 53704 - (608) 250-2501