How Much Does 2004 GMC Yukon Insurance Cost?

Want the cheapest insurance rates for your GMC Yukon? Cutting costs on insurance is always hard for consumers new to shopping for insurance online. Drivers have so many choices that it can quickly become a big hassle to find lower rates.

It’s a great practice to compare prices before your policy renews because rates are rarely the same from one policy term to another. Even if you got the best price on Yukon insurance on your last policy there may be better deals available now. You can find a lot of misleading information regarding insurance online but with this article, you’re going to get some great ways to find cheap insurance.

Why your GMC Yukon insurance rates may be high

An important part of buying insurance is that you know some of the elements that go into determining insurance rates. When you know what positively or negatively influences your rates allows you to make educated decisions that may reward you with better insurance rates.

Listed below are a partial list of the pieces companies use to determine rates.

  • Higher deductibles cost less – Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, protects your GMC from damage. Examples of covered claims are collision with another vehicle, collision with an animal, and rolling your vehicle. Deductibles for physical damage are the amount of money you are required to spend out-of-pocket before your insurance pays a claim. The more expense you’re willing to pay, the less your insurance will be on Yukon insurance.
  • Higher safety ratings means cheaper insurance – Vehicles with high crash test scores can get you lower premiums. Safe vehicles protect occupants better and any reduction in injury severity translates into fewer and smaller insurance claims and more competitive rates for policyholders. If your GMC earned at least an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
  • Being married is a good thing – Getting married helps lower the price on your insurance policy. Having a spouse translates into being more mature and responsible and statistics show being married results in fewer claims.
  • Liability coverage protects you – Liability coverage will protect you if you are found to be at fault for causing damage or personal injury in an accident. It provides for a legal defense which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap when compared with rates for comp and collision, so buy as much as you can afford.
  • Save money with special equipment – Purchasing a vehicle with anti-theft technology or alarm system can save you a little every year. Anti-theft features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping your car from being stolen.
  • Tickets mean higher rates – Even a single citation may increase your cost by as much as thirty percent. Drivers with clean records get better rates than their less careful counterparts. Drivers who get dangerous violations like hit and run, DWI or reckless driving convictions may be required to file a proof of financial responsibility form (SR-22) with their state DMV in order to prevent a license revocation.

Be sure to get all your discounts

Insurance can be prohibitively expensive, but discounts can save money and there are some available that many people don’t even know exist. Some discounts apply automatically at the time of purchase, but less common discounts must be asked for before you will receive the discount.

  • Discounts for Safe Drivers – Drivers who avoid accidents may receive a discount up to 45% less on Yukon insurance than their less cautious counterparts.
  • Early Switch Discount – A few companies offer discounts for signing up prior to your current policy expiration. It’s a savings of about 10%.
  • Lower Rates for Military – Having a family member in the military could be rewarded with lower premiums.
  • Safety Course Discount – Taking part in a driver safety course could possibly earn you a 5% discount depending on where you live.
  • Clubs and Organizations – Participating in certain professional organizations could trigger savings on insurance on Yukon insurance.
  • Life Insurance Discount – Larger companies have better rates if you take out a life insurance policy as well.
  • Fewer Miles Equal More Savings – Driving fewer miles can earn lower rates on the low mileage vehicles.
  • Multi-car Discount – Buying insurance for more than one vehicle on the same insurance policy could earn a price break for each car.
  • Distant Student – Children who are attending college without a vehicle on campus can receive lower rates.

It’s important to note that most discounts do not apply the the whole policy. Most only cut specific coverage prices like comprehensive or collision. Even though it may seem like you can get free auto insurance, companies don’t profit that way. But any discount will bring down the cost of coverage.

Companies that possibly offer these benefits include:

Before buying, ask each company which discounts you may be entitled to. Savings might not apply in every state.

How do I know if I need professional advice?

When it comes to buying the best auto insurance coverage for your personal vehicles, there really is no “perfect” insurance plan. Coverage needs to be tailored to your specific needs.

For example, these questions may help highlight whether or not you would benefit from an agent’s advice.

  • Are all vehicle passengers covered by medical payments coverage?
  • How do I insure my teen driver?
  • Is my ex-spouse still covered by my policy?
  • Which is better, split liability limits or combined limits?
  • Is my GMC Yukon covered if I use it for business?
  • How much liability do I need to cover my assets?
  • Can I make deliveries for my home business?

If you don’t know the answers to these questions, you may need to chat with an insurance agent. If you don’t have a local agent, complete this form.

Auto insurance 101

Knowing the specifics of your insurance policy aids in choosing the right coverages and the correct deductibles and limits. Policy terminology can be ambiguous and nobody wants to actually read their policy.

Medical costs insurance

Med pay and PIP coverage provide coverage for immediate expenses for prosthetic devices, hospital visits and rehabilitation expenses. They can be used to fill the gap from your health insurance plan or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. PIP is not universally available and may carry a deductible

Collision protection

This pays for damage to your Yukon resulting from colliding with another car or object. You first must pay a deductible then the remaining damage will be paid by your insurance company.

Collision can pay for claims like colliding with a tree, damaging your car on a curb, hitting a parking meter and colliding with another moving vehicle. Paying for collision coverage can be pricey, so consider removing coverage from older vehicles. It’s also possible to choose a higher deductible to save money on collision insurance.

Liability insurance

Liability coverage can cover damages or injuries you inflict on other’s property or people by causing an accident. It protects you against claims from other people. It does not cover your injuries or vehicle damage.

Split limit liability has three limits of coverage: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see policy limits of 25/50/25 that translate to $25,000 bodily injury coverage, a per accident bodily injury limit of $50,000, and a limit of $25,000 paid for damaged property. Alternatively, you may have a combined limit which limits claims to one amount with no separate limits for injury or property damage.

Liability can pay for things such as emergency aid, funeral expenses, repair costs for stationary objects, medical services and bail bonds. The amount of liability coverage you purchase is your choice, but consider buying as much as you can afford.

UM/UIM Coverage

This gives you protection from other motorists when they are uninsured or don’t have enough coverage. Covered claims include injuries to you and your family and damage to your GMC Yukon.

Because many people only purchase the least amount of liability that is required, it doesn’t take a major accident to exceed their coverage limits. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Frequently these coverages are similar to your liability insurance amounts.

Comprehensive or Other Than Collision

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers claims like vandalism, rock chips in glass, damage from getting keyed and fire damage. The maximum payout you’ll receive from a claim is the actual cash value, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.

Saving money is sweet as honey

As you prepare to switch companies, it’s a bad idea to buy less coverage just to save a little money. There are too many instances where someone sacrificed uninsured motorist or liability limits and found out when filing a claim they didn’t have enough coverage. The ultimate goal is to purchase a proper amount of coverage at the best price, not the least amount of coverage.

People who switch companies do it for a variety of reasons including being labeled a high risk driver, unfair underwriting practices, delays in paying claims and lack of trust in their agent. Whatever your reason, finding the right insurance coverage provider is not as hard as you think.

Budget-conscious 2004 GMC Yukon insurance is available on the web and also from your neighborhood agents, so you should compare both to get a complete price analysis. A few companies may not provide online quoting and these small, regional companies work with independent agents.

Even more information can be found at these sites: