Best GMC Canyon Insurance in Newark

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The best way we recommend to find affordable quotes for car insurance rates is to compare prices regularly from different companies in Newark. You can compare prices by completing these steps.

  1. Gain an understanding of what coverages are included in your policy and the factors you can control to prevent expensive coverage. Many rating criteria that cause high rates like high-risk driving behaviors and a bad credit score can be amended by being financially responsible and driving safely.
  2. Compare rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give rate quotes from one company like GEICO and State Farm, while independent agents can provide price quotes from multiple companies.
  3. Compare the new quotes to your existing policy to see if a cheaper price is available. If you find a lower rate quote, verify that coverage does not lapse between policies.
  4. Provide written notification to your current company to cancel your current car insurance policy. Submit payment and a signed application for your new policy. As soon as you receive it, keep your new certificate verifying proof of insurance in an easily accessible location in your vehicle.

An important bit of advice to remember is to try to use identical coverage information on each quote request and and to compare all possible companies. This provides a level playing field and a complete rate analysis.

Insurance quote for GMC Canyon in NewarkIt's well known that car insurance companies want to keep you from shopping around. People who compare rates once a year are very likely to buy a new policy because there is a significant possibility of finding lower rate quotes. A survey found that people who compared prices once a year saved over $70 a month compared to drivers who never shopped around for lower prices.

If finding discount rates on car insurance is your objective, learning how to get rate quotes and compare auto insurance can help simplify the task of finding more affordable coverage.

If you're already insured or are shopping for new coverage, use these techniques to find better prices without having to cut coverage. Finding the cheapest coverage in Newark is quite easy. Drivers just have to know the proper way to quote multiple rates online.

Detailed insurance information

The premium information shown next outlines detailed analysis of prices for GMC Canyon models. Knowing how premiums are formulated can be valuable when making informed decisions when comparing rate quotes.

GMC Canyon Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Canyon SLE Regular Cab 2WD $278 $530 $544 $32 $162 $1,546 $129
Canyon SLE Ext Cab 2WD $278 $644 $544 $32 $162 $1,660 $138
Canyon SLE Ext Cab Z71 2WD $278 $644 $544 $32 $162 $1,660 $138
Canyon SLE Crew Cab 2WD $278 $644 $544 $32 $162 $1,660 $138
Canyon SLE Regular Cab 4WD $320 $530 $544 $32 $162 $1,588 $132
Canyon SLE Crew Cab Z71 2WD $320 $644 $544 $32 $162 $1,702 $142
Canyon SLT Ext Cab 2WD $320 $644 $544 $32 $162 $1,702 $142
Canyon SLE Ext Cab 4WD $320 $530 $544 $32 $162 $1,588 $132
Canyon SLT Crew Cab 2WD $320 $760 $544 $32 $162 $1,818 $152
Canyon SLE Ext Cab Z71 4WD $320 $644 $544 $32 $162 $1,702 $142
Canyon SLE Crew Cab 4WD $360 $644 $544 $32 $162 $1,742 $145
Canyon SLE Crew Cab Z71 4WD $360 $644 $544 $32 $162 $1,742 $145
Canyon SLT Crew Cab 4WD $360 $644 $544 $32 $162 $1,742 $145
Canyon SLT Ext Cab 4WD $360 $644 $544 $32 $162 $1,742 $145
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Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, multi-vehicle, and claim-free. Rates do not factor in specific zip code location which can affect coverage prices considerably.

Raise deductibles and save

One common question asked by Newark drivers is which comprehensive and collision deductibles to buy. The comparison tables below may help to illustrate the difference in cost of buying low and high deductibles. The first data table uses a $100 physical damage deductible and the second set of prices uses a $500 deductible.

GMC Canyon insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Canyon SLE Regular Cab 2WD $360 $614 $480 $28 $144 $1,651 $138
Canyon SLE Ext Cab 2WD $360 $746 $480 $28 $144 $1,783 $149
Canyon SLE Ext Cab Z71 2WD $360 $746 $480 $28 $144 $1,783 $149
Canyon SLE Crew Cab 2WD $360 $746 $480 $28 $144 $1,783 $149
Canyon SLE Regular Cab 4WD $414 $614 $480 $28 $144 $1,705 $142
Canyon SLE Crew Cab Z71 2WD $414 $746 $480 $28 $144 $1,837 $153
Canyon SLT Ext Cab 2WD $414 $746 $480 $28 $144 $1,837 $153
Canyon SLE Ext Cab 4WD $414 $614 $480 $28 $144 $1,705 $142
Canyon SLT Crew Cab 2WD $414 $880 $480 $28 $144 $1,971 $164
Canyon SLE Ext Cab Z71 4WD $414 $746 $480 $28 $144 $1,837 $153
Canyon SLE Crew Cab 4WD $466 $746 $480 $28 $144 $1,889 $157
Canyon SLE Crew Cab Z71 4WD $466 $746 $480 $28 $144 $1,889 $157
Canyon SLT Crew Cab 4WD $466 $746 $480 $28 $144 $1,889 $157
Canyon SLT Ext Cab 4WD $466 $746 $480 $28 $144 $1,889 $157
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GMC Canyon insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Canyon SLE Regular Cab 2WD $264 $414 $480 $28 $144 $1,330 $111
Canyon SLE Ext Cab 2WD $264 $504 $480 $28 $144 $1,420 $118
Canyon SLE Ext Cab Z71 2WD $264 $504 $480 $28 $144 $1,420 $118
Canyon SLE Crew Cab 2WD $264 $504 $480 $28 $144 $1,420 $118
Canyon SLE Regular Cab 4WD $302 $414 $480 $28 $144 $1,368 $114
Canyon SLE Crew Cab Z71 2WD $302 $504 $480 $28 $144 $1,458 $122
Canyon SLT Ext Cab 2WD $302 $504 $480 $28 $144 $1,458 $122
Canyon SLE Ext Cab 4WD $302 $414 $480 $28 $144 $1,368 $114
Canyon SLT Crew Cab 2WD $302 $594 $480 $28 $144 $1,548 $129
Canyon SLE Ext Cab Z71 4WD $302 $504 $480 $28 $144 $1,458 $122
Canyon SLE Crew Cab 4WD $340 $504 $480 $28 $144 $1,496 $125
Canyon SLE Crew Cab Z71 4WD $340 $504 $480 $28 $144 $1,496 $125
Canyon SLT Crew Cab 4WD $340 $504 $480 $28 $144 $1,496 $125
Canyon SLT Ext Cab 4WD $340 $504 $480 $28 $144 $1,496 $125
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Premium costs do not factor in zip code location which can influence premium rates substantially.

Based on the data above, we can derive that using a $100 deductible costs an average of $30 more each month or $360 a year averaged for all Canyon models than requesting the higher $500 deductible. Since the policyholder would be required to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you normally average at least 13 months between claims, you would more than likely save some money going with the higher deductible. Here is an example of how this calculation is made.

Average monthly premium for $100 deductibles: $151
Average monthly premium for $500 deductibles (subtract): - $121
Monthly savings from raising deductible: $30
Difference between deductibles ($500 - $100): $400
Divide difference by monthly savings: $400 / $30
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 13 months

One important issue to know is that a higher deductible results in having to pay to pay more out-of-pocket when you file a claim. That will necessitate a higher level of savings in the event you have to pay the deductible to have repairs made.

The chart below demonstrates how deductible levels and can affect GMC Canyon insurance premiums for each different age group. The premiums are based on a married female driver, full coverage, and no additional discounts are factored in.

Difference between full coverage and liability only rates

The example below visualizes the comparison of GMC Canyon car insurance costs with full coverage compared to only the New Jersey minimum liability coverage. The price estimates are based on no violations or accidents, $500 deductibles, marital status is single, and no policy discounts are applied.

Should you pay for full coverage or liability only?

There isn't a steadfast formula for eliminating full coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is more than about 10% 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 Canyon replacement cost is $3,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most you would receive is $2,000 after the policy deductible has been paid. If you are paying over $200 a year for full coverage, then it might be time to buy liability only.

There are some conditions where removing full coverage is not a good idea. If you still have a lienholder on your title, you are required to maintain full coverage to satisfy the loan requirements. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should not remove full coverage.

The GMC Canyon Insurance Price Equation

Lots of things are part of the calculation when quoting car insurance. Some are pretty understandable like an MVR report, but other criteria are more obscure like your vehicle usage and annual miles driven.

Rates increase with driving citations - Just one citation may increase your cost twenty percent or more. Attentive drivers get better rates than bad drivers. Drivers with careless citations like hit and run, DWI or reckless driving convictions may find they need to prove financial responsibility with their state's licensing department in order to continue driving.

The chart below illustrates how violations and at-fault claims can drive up GMC Canyon insurance costs for different insured age categories. The rate quotes are based on a single male driver, full physical damage coverage, $1,000 deductibles, and no discounts are applied to the premium.

Protect yourself with liability insurance - Your car insurance policy's liability coverage is the coverage that protects you when a court rules you are at fault for damages caused by your negligence. It will provide for a legal defense up to the limits shown on your policy. Liability insurance is pretty cheap compared to comp and collision, so drivers should buy more than the minimum limits required by law.

Which gender costs less? - The statistics show females are less aggressive when driving. This data doesn't prove that men are worse drivers. Females and males cause accidents in similar numbers, but the male of the species cause more damage and cost insurance companies more money. Men also get higher numbers of serious violations like driving under the influence (DUI).

The example below shows the comparison of GMC Canyon insurance costs for male and female drivers. The data assumes no claims or driving citations, comprehensive and collision coverage, $100 deductibles, drivers are not married, and no other discounts are factored in.

Rural areas have lower premiums - Living in small towns and rural areas can be a good thing when shopping for auto insurance. Less people living in that area means fewer accidents as well as less vandalism and auto theft. Drivers in populated New Jersey areas have to deal with more auto accidents and longer commute times. More time on the road means higher likelihood of an accident.

High credit history translates to low prices - Having a bad credit rating factor in determining premium rates. Consumers who have excellent credit tend to be more responsible and file fewer claims as compared to drivers with lower credit ratings. If your credit history is lower than you'd like, you could potentially save money when insuring your GMC Canyon if you improve your credit rating.

Pleasure use or commuting - The higher the mileage driven annually the more you will pay for car insurance. The majority of insurers charge to insure your cars based on their usage. Cars and trucks used primarily for pleasure use qualify for better rates as compared to vehicles used primarily for driving to work. Having the wrong rating on your Canyon may be wasting your money. Make sure your car insurance coverage is rated on the proper vehicle usage, because it can save money.

Insurance losses for a GMC Canyon - Companies analyze past claim statistics to help determine the price you pay. Vehicles that the data determines to have higher losses will have a higher premium rate. The table below outlines the insurance loss data for GMC Canyon vehicles.

For each insurance policy coverage type, the loss probability for all vehicles, regardless of manufacturer or model, is equal to 100. Values that are below 100 suggest losses that are better than average, while values that are 100 or greater indicate frequent claims or an increased likelihood of larger losses.

GMC Canyon Insurance Loss Statistics
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
GMC Canyon Crew Cab 2WD 54 88
GMC Canyon Crew Cab 4WD 44 71
BETTER
AVERAGE
WORSE

Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years

Cheaper car insurance premiums are possible

We just presented many tips how you can lower your GMC Canyon insurance prices in Newark. The most important thing to understand is the more price quotes you have, the better chance you'll have of finding affordable Newark car insurance quotes. You may even discover the best prices are with a smaller regional carrier. Smaller companies may have significantly lower rates on certain market segments compared to the large companies like Allstate, GEICO and Progressive.

There are still a few companies who do not provide internet price quotes and many times these smaller providers only sell coverage through independent insurance agencies. Cheaper GMC Canyon insurance in Newark can be purchased both online and with local Newark insurance agents, and you need to price shop both in order to have the best price selection to choose from.

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