Buying the cheapest auto insurance for a GMC Sierra can be pretty simple, but it hinges on a pretty complex algorithm that uses a lot of factors such as whether you are single or married, your occupation, and physical damage deductibles. Indiana drivers will pay on average $733 a year to insure their Sierra, but that amount is calculated using a 40-year-old married male driver with both comprehensive and collision coverage and $1,000 deductibles.
The issue with using an average estimated rate is the likelihood you aren't exactly 40 years old or even a male, possibly single instead of married, and maybe your Sierra just needs liability-only coverage. There is no one cookie-cutter policy that works for everyone, so the only way to find the most affordable coverage for your GMC is to compare rates from as many companies as possible. To cut your rates now, get a free quote and you can get prices from some of the best companies that insure vehicles in Indiana.
Vehicle trim level impacts the annual cost of coverage, so the price you will be charged to insure a Sierra SLE Regular Cab 2WD will be $106 less expensive the insurance cost for the more costly Sierra Denali Crew Cab 4WD version, as shown in the prices below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Sierra SLE Regular Cab 2WD||$122||$212||$290||$18||$86||$728||$61|
|Sierra SL Extended Cab 2WD||$122||$212||$290||$18||$86||$728||$61|
|Sierra SLE Crew Cab 2WD||$122||$212||$290||$18||$86||$728||$61|
|Sierra SL Crew Cab 2WD||$138||$250||$290||$18||$86||$782||$65|
|Sierra SLE Crew Cab 2WD||$138||$250||$290||$18||$86||$782||$65|
|Sierra SLE Regular Cab 4WD||$138||$250||$290||$18||$86||$782||$65|
|Sierra SLE Extended Cab 4WD||$138||$250||$290||$18||$86||$782||$65|
|Sierra SLE Crew Cab 4WD||$138||$250||$290||$18||$86||$782||$65|
|Sierra SLT Extended Cab 2WD||$138||$250||$290||$18||$86||$782||$65|
|Sierra SL Crew Cab 4WD||$138||$250||$290||$18||$86||$782||$65|
|Sierra SLT Extended Cab 4WD||$138||$250||$290||$18||$86||$782||$65|
|Sierra SLT Crew Cab 2WD||$138||$250||$290||$18||$86||$782||$65|
|Sierra SLT Crew Cab 4WD||$154||$286||$290||$18||$86||$834||$70|
|Sierra Denali Crew Cab 2WD||$154||$286||$290||$18||$86||$834||$70|
|Sierra Denali Crew Cab 4WD||$154||$286||$290||$18||$86||$834||$70|
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Above prices assume married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Rate information does not factor in Indiana location which can influence prices substantially.
Figuring out which companies offer the cheapest insurance rates for a GMC Sierra in Indiana requires more time than just getting one or two price quotes. Each insurer has a unique approach to set policy rates, so let's take a look at the overall cheapest insurance companies in Indiana.
It's important that readers know that Indiana insurance rates are impacted by many things which can substantially change the price you pay. Simply turning a year older, becoming a homeowner, or having a fender bender can cause premium changes resulting in some companies being more affordable than others.
Find the Cheapest Auto Insurance for Your Truck
|Rank||Company||Cost Per Year|
|7||Indiana Farmers Mutual||$867|
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Travelers has some of the most affordable car insurance rates in Indiana at around $602 per year. This is $638 less than the average price paid by Indiana drivers of $1,240. USAA, Cincinnati Insurance, Erie, and Western Reserve are also some of the cheaper Indiana insurance companies.
As shown in the table above, if you are a policyholder with Western Reserve and switched to USAA, you may see annual savings of in the neighborhood of $185. Policyholders with The Hartford might save as much as $194 a year, and Indiana Farmers Mutual customers might see rate reductions of $206 a year.
These premium estimates are averages for all insureds and vehicles and are not factoring in a specific rate factor for a GMC Sierra. So the company that fits you best may not even be in the list above. That's why you need to get rate quotes using your own specific driver information and vehicle.
Does it make sense to buy full coverage?
Saving money when shopping for insurance is important to most drivers, and one good way to find cheap insurance for a GMC Sierra in Indiana is to only buy liability coverage. The diagram below shows the difference between car insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Indiana. The premiums assume a clean driving record, no claims, $250 deductibles, drivers are not married, and no discounts are taken into consideration.
Averaged for all ages 20 through 70, comp and collision coverage costs $2,063 per year more than just buying liability only. That is a big expense that brings up the question if buying full coverage is worth the expense. There isn't a steadfast formula to drop full coverage, but there is a guideline you can consider. If the annual cost of your full coverage insurance is more than 10% of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.
There are some scenarios where dropping full coverage is not financially feasible. If you haven't satisfied your loan, you have to carry full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.
Who has the cheapest Sierra insurance?
Indiana insurance rates are impacted by many things that will increase or decrease the policy price. Improving your credit rating, having a claim, or getting caught speeding may cause policy rate changes that can cause some rates to be cheaper than competitors.
In addition, insurers change prices as often as every three months in order to remain profitable. Higher than normal claim frequency or severity can result in high rates, while less frequent claims can result in lower-priced Sierra insurance rates.
To illustrate this example, the chart below shows which company has the cheapest car insurance in Indiana for a 35-year-old male driver with no violations or accidents, and good financial standing. When quoting prices based on his current situation, Travelers might offer the lowest car insurance rates in Indiana at $602 annually. This is $638 less than the average price paid by Indiana drivers of $1,240. Cincinnati Insurance, USAA, Erie, and Western Reserve are also on the list of the cheapest Indiana auto insurance companies.
Now we will pretend the driver in the first example an accident surcharge, slightly worse credit, and a blemish on his driving record. Since every car insurance company has a different process to establish rates, comparing quotes could now result in a substantially altered list of affordable Indiana car insurance companies as shown below.
The Hartford now has the best price on car insurance in Indiana with Auto-Owners, Cincinnati Insurance, USAA, and Nationwide completing the list. This example illustrates why it is crucial to perform an extensive rate comparison when trying to get the most affordable insurance rates for a GMC Sierra. Car insurance prices can be altered by many different factors and can change substantially, so the cheapest rate two years ago may now be priced much higher than other options.
How to find cheaper car insurance for a GMC Sierra in Indiana
Lowering your rates is not difficult, and here are a few money-saving solutions that can help you get low-cost coverage.
- Increase physical damage deductibles
- If possible, do not file small claims
- Choose a safer vehicle and pay lower rates
- Do not pay for comprehensive and collision coverage on older vehicles
- Insure your home and auto with the same company
- Maintaining good credit helps earn cheaper rates
- Shop around once a year for cheaper rates
That last piece of advice is highly significant, as was noted in the article above. Auto insurance prices fluctuate considerably, so drivers shouldn't be reluctant to change insurance companies if you can find a cheaper rate. Brand loyalty is great, but is isn't recommended if that loyalty ends up costing several hundred dollars every year. In just a few minutes you could compare rates to find cheaper car insurance for a GMC Sierra.