Pretty sure you bought an overpriced auto insurance policy? Trust us when we tell you there are many Denver drivers thinking the same thing.
Statistics show that the vast majority of drivers renewed their policy with the same company for well over three years, and just under half have never even compared quotes to find cheaper rates. Consumers in Colorado can save hundreds of dollars each year, but they underestimate the actual amount they would save if they swap their current policy for a cheaper one.
Due to the large number of choices for buying cheaper insurance for a GMC Yukon in Denver, it can be hard to find the right company.
Consumers need to get comparison quotes quite often since insurance prices are rarely the same from one policy term to another. Despite the fact that you may have had the best deal on GMC Yukon insurance in Denver a couple years back you may be paying too much now. Forget anything you know (or think you know) about auto insurance because I'm going to let you in on the secrets to one of the best ways to lower your rates without sacrificing coverage.
Quoting and buying the cheapest protection in Denver is not as time-consuming as you think. Practically everyone who needs cheaper auto insurance should find a lower-cost company. Nevertheless, Colorado drivers must comprehend the methods companies use to calculate their prices and apply this information to your search.
It's important to know that quoting more helps increase your odds of locating lower pricing. Some insurance companies are not set up to provide online Denver Yukon insurance quotes, so you also need to get price quotes from them as well.
The companies in the list below can provide price quotes in Denver, CO. If several companies are displayed, it's a good idea that you compare several of them in order to find the cheapest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Yukon SLE 2WD||$378||$672||$474||$28||$142||$1,694||$141|
|Yukon SLE 4WD||$148||$244||$338||$20||$100||$850||$71|
|Yukon SLT 2WD||$294||$562||$396||$24||$118||$1,394||$116|
|Yukon SLT 4WD||$266||$416||$456||$28||$136||$1,302||$109|
|Yukon Denali 2WD||$278||$434||$352||$20||$106||$1,190||$99|
|Yukon Denali 4WD||$372||$740||$426||$26||$128||$1,692||$141|
|Yukon Hybrid 2WD||$266||$566||$516||$30||$154||$1,532||$128|
|Yukon Hybrid 4WD||$326||$726||$416||$24||$124||$1,616||$135|
|Yukon Hybrid Denali 2WD||$258||$544||$536||$32||$160||$1,530||$128|
|Yukon Hybrid Denali 4WD||$200||$432||$416||$24||$124||$1,196||$100|
|Get Your Own Custom Quote Go|
Data based on married female driver age 40, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Table data does not factor in vehicle location which can change premiums considerably.
Drive safe and save
The example below demonstrates how speeding tickets and at-fault fender-benders can impact GMC Yukon yearly insurance costs for different ages of insureds. The premium estimates are based on a single female driver, full coverage, $250 deductibles, and no discounts are taken into consideration.
Higher deductibles lower rates
The example below illustrates how your choice of deductibles and can raise or lower GMC Yukon yearly insurance costs for different insured age categories. The premiums assume a married female driver, full coverage, and no other discounts are factored in.
How much more does full coverage cost in Denver?
The chart below shows the comparison of GMC Yukon annual premium costs with and without physical damage coverage. The data assumes no violations or accidents, $250 deductibles, married male driver, and no discounts are applied to the premium.
Guidelines for dropping full coverage
There isn't a steadfast formula of when to stop paying for comprehensive and collision coverage on your policy, but there is a general convention. If the annual cost of your full coverage insurance is 10% or more of any settlement you would receive from your insurance company, then you might consider buying liability only.
For example, let's assume your GMC Yukon replacement cost is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $8,000 after the policy deductible has been paid. If you are paying in excess of $800 annually to have full coverage, then it could be time to drop full coverage.
There are some situations where only buying liability is not a good idea. If you have an outstanding loan on your vehicle, you have to maintain full coverage to protect the lienholder's interest in the vehicle. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Car insurance quotes and discounts
The cost of insuring your cars can be expensive, but you may be missing some discounts that many people don't even know exist. Certain discounts will be triggered automatically at the time of quoting, but a few must be asked about prior to receiving the credit.
- Air Bags and Passive Restraints - Cars that have air bags or automatic seat belts can qualify for discounts of up to 25% or more.
- Multiple Cars - Having primary and secondary vehicles on one policy can reduce rates for all insured vehicles.
- Early Signing - A few companies allow discounts for buying a new policy prior to your current Yukon insurance policy expiring. You may see this discount when you get Denver car insurance quotes online.
- Mature Driver Discount - Drivers that qualify as senior citizens can possibly qualify for a slight reduction on a Denver car insurance quote.
- Active Military Service - Having a deployed family member could trigger a small discount.
- Multiple Policy Discount - If you can bundle your auto and homeowners insurance with one insurance company you may earn over 10 percent off each policy depending on the company.
Remember that some of the credits will not apply the the whole policy. Most only reduce specific coverage prices like comp or med pay. Even though it may seem like all those discounts means the company will pay you, it's just not the way it works. But any discount will bring down the amount you have to pay.
To choose insurers who offer discounts in Colorado, follow this link.
Car insurance in Colorado serves several purposes
Despite the high insurance cost for a GMC Yukon in Denver, paying for car insurance is required in Colorado but it also protects you in many ways.
- Almost all states have minimum mandated liability insurance limits which means you are required to buy specific limits of liability insurance coverage in order to drive the car. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you have a lien on your vehicle, it's guaranteed your bank will require you to have physical damage coverage to ensure loan repayment if the vehicle is totalled. If coverage lapses or is cancelled, the bank may buy a policy for your GMC for a much higher rate and require you to fork over for the much more expensive policy.
- Insurance protects both your assets and your GMC. Insurance will pay for medical bills for you, your passengers, and anyone else injured in an accident. One policy coverage, liability insurance, will also pay for a defense attorney if someone files suit against you as the result of an accident. If mother nature or an accident damages your car, your policy will cover the damage repairs after a deductible is paid.
The benefits of insuring your Yukon are definitely more than the cost, particularly when you have a large claim. Today the average American driver is overpaying over $865 each year so we recommend shopping around at every policy renewal to make sure the price is not too high.
What if I want to buy from local Denver auto insurance agents?
Many drivers just prefer to sit down and talk to an agent. The biggest benefit of comparing auto insurance online is you may find lower car insurance rates and still choose a local agent. And providing support for local insurance agencies is important especially in Denver.
After filling out this quick form, your insurance data is instantly submitted to local insurance agents in Denver that can provide free Denver car insurance quotes for your insurance coverage. It's much easier because you don't need to visit any agencies since price quotes are sent immediately to your email address. You'll get the best rates AND an agent nearby. If you want to get a price quote from a specific company, don't hesitate to navigate to their website to submit a rate quote request.
Finding the right insurer requires more thought than just the price. These are valid questions to ask:
- Is the agency involved in supporting local community causes?
- Do the companies they represent have a solid financial rating?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Are they able to provide referrals?
- Can they help ensure a fair claim settlement?
- Is the agency covered by Errors and Omissions coverage?
Specific coverages for a GMC Yukon
Knowing the specifics of your policy aids in choosing appropriate coverage for your vehicles. Policy terminology can be ambiguous and even agents have difficulty translating policy wording. Below you'll find typical coverage types available from auto insurance companies.
Coverage for uninsured or underinsured drivers
This gives you protection when the "other guys" are uninsured or don't have enough coverage. This coverage pays for hospital bills for your injuries and damage to your GMC Yukon.
Since many Colorado drivers only purchase the least amount of liability that is required (25/50/15 in Colorado), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages is important protection for you and your family. Frequently these coverages are similar to your liability insurance amounts.
Comprehensive auto insurance
Comprehensive insurance coverage pays for damage from a wide range of events other than collision. A deductible will apply then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage pays for things like a tree branch falling on your vehicle, hail damage, vandalism and damage from a tornado or hurricane. The highest amount you can receive from a comprehensive claim is the market value of your vehicle, so if it's not worth much more than your deductible consider removing comprehensive coverage.
Coverage for medical expenses
Medical payments and Personal Injury Protection insurance provide coverage for expenses such as surgery, doctor visits, prosthetic devices, chiropractic care and funeral costs. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover you and your occupants in addition to getting struck while a pedestrian. Personal injury protection coverage is not universally available but it provides additional coverages not offered by medical payments coverage
This covers damage to your Yukon resulting from a collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.
Collision can pay for claims like crashing into a ditch, hitting a parking meter, damaging your car on a curb, rolling your car and sideswiping another vehicle. Collision is rather expensive coverage, so consider removing coverage from older vehicles. Drivers also have the option to bump up the deductible on your Yukon to get cheaper collision coverage.
Liability insurance will cover injuries or damage you cause to other's property or people by causing an accident. Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have policy limits of 25/50/15 that translate to $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and $15,000 of coverage for damaged propery. Another option is one number which is a combined single limit which limits claims to one amount rather than limiting it on a per person basis.
Liability insurance covers things like emergency aid, repair bills for other people's vehicles, repair costs for stationary objects, attorney fees and pain and suffering. How much liability coverage do you need? That is your choice, but it's cheap coverage so purchase higher limits if possible. Colorado state law requires minimum liability limits of 25/50/15 but you should think about purchasing more coverage.