The easiest way to get budget auto insurance rates is to regularly compare prices from providers that insure vehicles in Toledo.
First, read about the different coverages in a policy and the changes you can make to lower rates. Many policy risk factors that result in higher rates like careless driving and a substandard credit score can be improved by making minor changes in your lifestyle.
Second, obtain price quotes from direct, independent, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like GEICO or Farmers Insurance, while agents who are independent can quote rates from many different companies.
Third, compare the new quotes to your existing coverage to determine if you can save on Yukon insurance in Toledo. If you find a better price, verify that coverage does not lapse between policies.
Fourth, provide written notification to your current company to cancel your current auto insurance policy. Submit the completed application along with a down payment to the new company. As soon as coverage is bound, keep your new certificate verifying coverage in an easily accessible location.
A good tip to remember is to make sure you’re comparing the same liability limits and deductibles on each quote and and to get prices from as many companies as possible. Doing this helps ensure the most accurate price comparison and the best price quote selection.
Statistics show that a large majority of auto insurance policyholders in Ohio renewed their policy with the same company for more than four years, and approximately 38% of consumers have never compared quotes from other companies. U.S. insurance shoppers could save as much as $859 each year just by shopping around, but they don’t know the amount of savings they would get if they moved their coverage to a different company.
Don’t neglect these discounts
Auto insurance companies don’t always publicize all possible discounts very clearly, so the following list contains some of the more common and the more hidden savings tricks you should be using when you buy Toledo car insurance online.
- Online Discount – Many insurance companies may give you up to $50 get Toledo car insurance over the internet.
- Pay Upfront and Save – If paying your policy premium upfront instead of making monthly payments you can avoid the installment charge.
- Good Student – This discount may save you up to 25%. Many companies even apply the discount to college students well after school through age 25.
- Drive Less and Save – Maintaining low annual mileage could be rewarded with discounted insurance rates on garaged vehicles.
- Waiver for an Accident – This one is not really a discount per se, but companies like Progressive, Allstate, and GEICO will let one accident slide before raising your premiums with the catch being you have to be claim-free for a particular time prior to the accident.
We need to note that some credits don’t apply to your bottom line cost. Some only apply to specific coverage prices like physical damage coverage or medical payments. Just because it seems like adding up those discounts means a free policy, insurance companies aren’t that generous.
The diagram below shows the comparison of GMC Yukon yearly insurance costs with and without discounts applied to the policy rates. The rates are based on a male driver, a clean driving record, no at-fault accidents, Ohio state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, claim-free, multi-policy, homeowner, and safe-driver discounts applied.
To locate providers that offer some of these discounts in Ohio, follow this link.
All the larger insurance companies give coverage price quotes online. Doing online quotes for GMC Yukon insurance in Toledo is quite easy because it’s just a matter of typing in your personal and coverage information into a form. After the form is submitted, the company’s rating system automatically orders reports for credit and driving violations and generates a price based on the data you entered.
Quoting online for GMC Yukon insurance in Toledo makes it easy to compare insurance prices and it’s absolutely necessary to compare as many rates as possible if you want to get the best possible rates on insurance.
To save time and use this form to compare rates, compare rate quotes from the providers shown below. If you have a policy now, it’s recommended you input the limits and deductibles exactly as shown on your declarations page. This way, you will receive a price comparison for similar coverage.
The companies in the list below have been selected to offer free quotes in Toledo, OH. If you want to find cheap auto insurance in Toledo, OH, it’s highly recommended you compare several of them to get a more complete price comparison.
Auto insurance data for a GMC Yukon
The premium information below highlights detailed analysis of insurance rates for GMC Yukon models. Learning a little about how car insurance prices are determined helps drivers make informed purchases.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Yukon SLE 2WD||$106||$182||$238||$14||$72||$612||$51|
|Yukon SLE 4WD||$106||$182||$238||$14||$72||$612||$51|
|Yukon SLT 2WD||$106||$182||$238||$14||$72||$612||$51|
|Yukon SLT 4WD||$118||$182||$238||$14||$72||$624||$52|
|Yukon Denali 2WD||$118||$214||$238||$14||$72||$656||$55|
|Yukon Denali 4WD||$118||$214||$238||$14||$72||$656||$55|
|Yukon Hybrid 2WD||$118||$248||$270||$16||$80||$732||$61|
|Yukon Hybrid 4WD||$118||$248||$270||$16||$80||$732||$61|
|Yukon Hybrid Denali 2WD||$130||$280||$270||$16||$80||$776||$65|
|Yukon Hybrid Denali 4WD||$130||$280||$270||$16||$80||$776||$65|
|Get Your Own Custom Quote Go|
Above prices assume married female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Rate quotes do not factor in specific garaging location which can modify price quotes greatly.
The example below demonstrates how deductible levels and can increase or decrease GMC Yukon yearly insurance costs for different age categories. The rate quotes are based on a married female driver, full coverage, and no discounts are taken into consideration.
Comparison of full coverage and liability-only policies
The illustration below visualizes the comparison of GMC Yukon auto insurance costs with full physical damage coverage and with liability coverage only. The premiums are based on a clean driving record, no claims, $500 deductibles, drivers are single, and no discounts are factored in.
Should you pay for full coverage or liability only?
There is no exact formula for eliminating full coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is 10% or more of the settlement you would receive from your company, then it could be time to drop full coverage.
For example, let’s assume your GMC Yukon replacement cost is $3,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $2,000 after you pay the deductible. If it’s costing in excess of $200 annually for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
There are a few cases where buying only liability insurance is not in your best interest. If you haven’t satisfied your loan, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should maintain full coverage.
Components of Your GMC Yukon Insurance Prices
One of the most helpful ways to save on insurance is to to have a grasp of some of the elements that go into determining the rates you pay for insurance. When you know what positively or negatively controls the rates you pay, this enables informed choices that could help you find cheaper rates.
The factors shown below are some of the most common factors insurance companies consider when setting your rate level.
Improve your credit history – Having a good credit score can be a huge factor in determining what you pay. Drivers with good credit tend to be more responsible and file fewer claims than those with poor credit. Therefore, if your credit score is low, you could potentially save money when insuring your GMC Yukon if you improve your credit rating.
Higher rates for specific employers – Do you work in a high-stress field? Careers like judges, airline pilots, and accountants are shown to have higher average rates in part from job stress and incredibly demanding work hours. On the other hand, careers such as professors, engineers and homemakers pay lower than average rates.
Get hitched and pay lower premiums – Having a significant other helps lower the price on insurance. Marriage demonstrates that you tend to be more mature and insurance companies like that drivers who are married are more cautious.
More performance means higher prices – The performance of the car or truck you own makes a big difference in your car insurance bill. Lower performance four cylinder passenger vehicles normally have pretty low rates, but that’s not the only thing that factors into the final price.
The next chart assumes a single female driver age 30, full coverage with $100 deductibles, and no discounts or violations. It compares GMC Yukon insurance premiums compared to other vehicles that have different performance rating factors.
Do you need those extra policy coverages? – There are many optional add-on coverages that can add up but may not be useful. Coverages for coverage for rental cars, towing, and Farm Bureau memberships may be wasting your money. They may sound like good ideas when you first buy your policy, but now you might not need them so think about removing them and cutting costs.
Bundle policies to earn discounts – Many insurers provide better rates to insureds that have more than one policy, otherwise known as a multi-policy discount. This can amount to ten or even fifteen percent. Even though this discount sounds good, you may still want to get quotes from other companies to help ensure you have the lowest rates.
Long commutes cost more – The more miles you rack up on your GMC annually the more you’ll pay to insure it. The majority of insurers charge rates based upon how much you drive. Cars and trucks that have low annual miles can be on a lower rate level than those that get driven frequently. It’s a smart idea to ensure your insurance policy is rated on the correct usage. Improper usage on your Yukon is just wasting money.
GMC Yukon historical loss data – Insurance companies use historical loss data when they file their rates in each state. Models that have higher frequency or amount of claims will have higher premium rates. The next table shows the collected loss data for GMC Yukon vehicles.
For each coverage category, the claim probability for all vehicles compiled together is represented as 100. Numbers shown that are under 100 imply a favorable loss record, while values that are above 100 point to more claims or statistically larger claims.
|Specific GMC Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|GMC Yukon 4dr 2WD||86||96||112||66|
|GMC Yukon 4dr 4WD||86||89||117||63||61||69|
|GMC Yukon XL 1500 4dr 2WD||111||99||137|
|GMC Yukon XL 1500 4dr 4WD||104||126||128||59|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Are auto insurance agents obsolete?
Some people still prefer to talk to a local agent. An additional benefit of getting online price quotes is the fact that you can find the best rates but also keep your business local.
To make it easy to find an agent, after completing this short form, your information is emailed to local insurance agents in Toledo that provide free Toledo car insurance quotes for your coverage. You never need to even leave your home since price quotes are sent to you directly. You can find the lowest rates AND a local agent. If for some reason you want to get a price quote from one company in particular, you would need to go to their quote page and complete a quote there.
Choosing an provider shouldn’t rely on just a cheap price quote. A good agent in Toledo will have answers to these questions.
- Is the agency involved in supporting local community causes?
- How are claims handled?
- Are they in the agency full-time?
- Will high miles depreciate repair valuations?
- When do they do a full risk review?
- Do they have any clout with companies to ensure a fair claim settlement?
- Do the agents have professional certifications like CPCU or CIC?
Types of car insurance agents in Toledo
If you’re trying to find a reliable agent, you should know the different types of agencies and how they differ in how they can insure your vehicles. Car insurance policy providers can be categorized as either independent agents or exclusive agents.
Agents that elect to be exclusive generally can only insure with one company like State Farm, Allstate, or Farmers Insurance. They generally cannot provide rate quotes from other companies so always compare other rates. Exclusive agencies are very knowledgeable in insurance sales which helps offset the inability to provide other markets. Many people use the same agent primarily because of the brand rather than low rates.
Listed below are exclusive agents in Toledo that can give you comparison quotes.
- Scott Wood – State Farm Insurance Agent
4802 N Summit St – Toledo, OH 43611 – (419) 726-3741 – View Map
- Allstate Insurance: Jessica J. Hernandez
1855 S Reynolds Rd B – Toledo, OH 43614 – (419) 536-9000 – View Map
- Eric Price – State Farm Insurance Agent
2600 N Reynolds Rd #104b – Toledo, OH 43615 – (419) 536-6030 – View Map
Independent Car Insurance Agencies
Agents that elect to be independent do not write with just one company so as a result can place your coverage amongst many companies and find you cheaper rates. To move your coverage to a new company, they can switch companies in-house and you won’t have to switch agencies.
When comparing car insurance prices, we recommend you include several independent insurance agents to ensure the widest selection of prices. Many can place coverage with small regional insurance companies that can offer cheaper rates than bigger companies.
Shown below is a short list of independent insurance agents in Toledo who can help you get rate quotes.
- Knight Insurance Group
22 N Erie St – Toledo, OH 43624 – (419) 241-5133 – View Map
- American Casualty Insurance
6060 Renaissance Pl i – Toledo, OH 43623 – (419) 885-3571 – View Map
- Stoner Johnson Insurance Agency
2330 Airport Hwy – Toledo, OH 43609 – (419) 385-3101 – View Map
If you get positive feedback to your questions and an acceptable price quote, chances are good that you have found a car insurance agent that will adequately provide car insurance. Just understand that you can always cancel coverage whenever you choose to so don’t assume you are locked into a specific company with no way out.
Insurance in Ohio serves several purposes
Despite the fact that insurance is not cheap in Toledo, buying insurance is a good idea for several reasons.
- Most states have minimum liability requirements which means you are required to buy a minimum amount of liability protection if you want to drive legally. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your Yukon, almost every bank will stipulate that you have full coverage to protect their interest in the vehicle. If you do not pay your insurance premiums, the lender may insure your GMC for a much higher rate and require you to fork over the higher price.
- Insurance protects not only your vehicle but also your assets. It also can pay for many types of medical costs for you, your passengers, and anyone else injured in an accident. Liability insurance also covers all legal expenses up to the policy limit if you are sued as the result of your driving. If your car is damaged in a storm or accident, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.
The benefits of buying insurance greatly outweigh the cost, specifically if you ever have a liability claim. Despite what companies tell you, the average driver overpays as much as $825 a year so compare quotes from several companies at least once a year to ensure rates are competitive.
Keep this in mind when shopping around
You just learned quite a bit of information on how to find cheap GMC Yukon insurance in Toledo. The key thing to remember is the more you quote Toledo car insurance, the more likely it is that you will get a better rate. Consumers may even find the lowest priced auto insurance comes from a smaller regional carrier.
Insureds switch companies for a variety of reasons including high rates after DUI convictions, policy cancellation, extreme rates for teen drivers or questionable increases in premium. Regardless of your reason, finding a great new company can be easy and end up saving you some money.
A few companies do not provide rates over the internet and many times these smaller providers only sell through local independent agencies. Cheaper GMC Yukon insurance in Toledo can be sourced online as well as from independent agents in Toledo, and you should be comparing both to have the best selection.
More information is available at these links:
- Safety Belts FAQ (iihs.org)
- Who Has Affordable Toledo Auto Insurance for Infrequent Drivers? (FAQ)
- How Much is Car Insurance for Police Officers in Toledo? (FAQ)
- Who Has Cheap Car Insurance Quotes for Low Income Drivers in Toledo? (FAQ)
- What Car Insurance is Cheapest for Young Drivers in Toledo? (FAQ)
- Automakers compete to add autobraking (Insurance Institute for Highway Safety)
- Child Safety FAQ (iihs.org)