Would you like an easy way to compare lower-priced GMC Canyon insurance in Memphis? Wish you could get out of an underperforming, overpriced auto insurance policy? Don't sweat it because you are not the only one feeling buyer's remorse.
Regrettably, most auto insurance policyholders have been with the same company for well over three years, and just under half have never even compared rates from other companies. Tennessee consumers could save up to 35% a year just by comparing rates, but they don't invest the time required to compare rates and save money. Numerous insurers battle to insure your vehicles, so it can be very hard to choose a insurance company and uncover the absolute best rate on GMC Canyon insurance in Memphis.
If you have a current auto insurance policy or need a new policy, use these cost-cutting techniques to reduce premiums without sacrificing coverage. Buying the cheapest auto insurance in Memphis can initially seem challenging. Smart shoppers just need to learn how to shop for auto insurance online.
Companies offering GMC Canyon insurance in Memphis
The companies shown below are our best choices to provide price quotes in Memphis, TN. If more than one company is shown, we recommend you compare several of them to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Canyon SLE Regular Cab 2WD||$176||$284||$298||$18||$90||$866||$72|
|Canyon SLE Ext Cab 2WD||$246||$448||$378||$22||$114||$1,208||$101|
|Canyon SLE Ext Cab Z71 2WD||$94||$202||$278||$16||$82||$672||$56|
|Canyon SLE Crew Cab 2WD||$176||$372||$390||$24||$116||$1,078||$90|
|Canyon SLE Regular Cab 4WD||$118||$190||$326||$20||$98||$752||$63|
|Canyon SLE Crew Cab Z71 2WD||$126||$218||$298||$18||$90||$750||$63|
|Canyon SLT Ext Cab 2WD||$134||$232||$294||$18||$88||$766||$64|
|Canyon SLE Ext Cab 4WD||$176||$244||$294||$18||$88||$820||$68|
|Canyon SLT Crew Cab 2WD||$182||$358||$288||$18||$86||$932||$78|
|Canyon SLE Ext Cab Z71 4WD||$156||$298||$326||$20||$98||$898||$75|
|Canyon SLE Crew Cab 4WD||$172||$290||$390||$24||$116||$992||$83|
|Canyon SLE Crew Cab Z71 4WD||$234||$304||$378||$22||$114||$1,052||$88|
|Canyon SLT Crew Cab 4WD||$216||$368||$304||$18||$90||$996||$83|
|Canyon SLT Ext Cab 4WD||$274||$516||$350||$20||$104||$1,264||$105|
|Get Your Own Custom Quote Go|
Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, homeowner, and claim-free. Rate information does not factor in Memphis location which can change insurance rates substantially.
Males versus Females
The chart below shows the difference between GMC Canyon car insurance rates for male and female drivers. The information is based on no claims or driving citations, comp and collision included, $1,000 deductibles, drivers are single, and no discounts are applied.
Accidents and violations increase rates
The information below demonstrates how speeding tickets and accidents drive up GMC Canyon insurance premiums for different age groups. The information is based on a married female driver, full physical damage coverage, $500 deductibles, and no additional discounts are factored in.
Full coverage versus liability only rates
The example below illustrates the difference between GMC Canyon insurance prices with full physical damage coverage compared to only buying the minimum liability limits required in Tennessee. The premium estimates are based on no driving violations, no at-fault accidents, $100 deductibles, married female driver, and no policy discounts are applied.
Are you wasting money on full coverage?
There is no clear-cut rule that works best for making the decision to drop full coverage, but there is a guideline you can use. If the yearly cost of full coverage is more than 10% of the settlement you would receive from your company, then you might consider buying liability only.
For example, let's pretend your GMC Canyon claim settlement value is $5,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $4,000 after the deductible is paid. If premium cost is more than $400 annually to have full coverage, then it may be the right time to buy liability only.
There are a few situations where removing full coverage is not advised. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not opt for liability only.
Score discounts on Memphis insurance
Insurance is easily one of your largest bills, but discounts can save money and there are some available that could drop your premiums quite a bit. A few discounts will be applied when you purchase, but some need to be specifically requested prior to getting the savings. If you do not double check each discount you deserve, you could be paying more than you need to.
- Pay Upfront and Save - If you pay your bill all at once instead of monthly or quarterly installments you can actually save on your bill.
- No Accidents - Insureds who avoid accidents and claims are rewarded with significantly better rates on Memphis car insurance quote as opposed to frequent claim filers.
- Sign Online - Many insurance companies give back up to $50 shop Memphis car insurance on the web.
- Life Insurance - Select insurance carriers reward you with a small discount if you purchase a life policy as well.
- Student Discounts - Excelling in school may save you up to 25%. Most companies allow this discount up until you turn 25.
- Discount for Passive Restraints - Vehicles equipped with air bags or motorized seat belts could see savings of 20% or more.
As is typical with insurance, some credits don't apply to the entire cost. The majority will only reduce specific coverage prices like collision or personal injury protection. If you do the math and it seems like you could get a free insurance policy, insurance companies aren't that generous. But any discount will reduce the amount you have to pay.
A few popular companies and some of the discounts are included below.
- The Hartford offers premium reductions for vehicle fuel type, air bag, anti-theft, bundle, defensive driver, good student, and driver training.
- American Family discounts include accident-free, early bird, Steer into Savings, good driver, and multi-vehicle.
- Progressive may have discounts that include online quote discount, multi-vehicle, homeowner, continuous coverage, good student, and multi-policy.
- Travelers may include discounts for good student, save driver, multi-car, home ownership, and new car.
- Farmers Insurance may offer discounts for switch companies, teen driver, electronic funds transfer, bundle discounts, early shopping, multi-car, and business and professional.
- USAA offers discounts for defensive driver, safe driver, military installation, new vehicle, vehicle storage, multi-vehicle, and annual mileage.
- Liberty Mutual offers discounts including hybrid vehicle, safety features, newly retired, new graduate, multi-car, and new vehicle discount.
It's a good idea to ask all the companies which discounts you qualify for. Some discounts may not be available everywhere. To locate insurance companies that provide some of the discounts listed above in Memphis, follow this link.
What Impacts GMC Canyon Insurance Rates?
Many factors are used in the calculation when you get your auto insurance bill. Some are obvious like your driving record, but some are more obscure like your vehicle usage or your vehicle rating. An important part of buying insurance is that you know the factors that help determine your auto insurance rates. If you know what determines premiums, this empowers consumers to make smart changes that may reward you with lower auto insurance prices.
- Don't let your auto insurance lapse - Having a gap between insurance policy dates is a sure-fire way to bump up your auto insurance costs. In addition to paying higher rates, failure to provide proof of insurance will get you a steep fine or even jail time.
- Liability insurance preserves assets - A critical coverage on your policy, liability insurance will protect you when you are determined to be liable for physical damage or personal injury to other. It will provide legal defense coverage which can cost thousands of dollars. Liability is cheap compared to physical damage coverage, so do not cut corners here.
- Single vs. married - Having a wife or husband may cut your premiums on your policy. Having a significant other usually means you are more mature and it's proven that married drivers tend to file fewer claims.
- Save money with good credit - Having a good credit score will be a significant factor in calculating your premium rate. People that have very high credit ratings tend to be less risk to insure than drivers with lower ratings. Therefore, if your credit history could use some work, you could pay less to insure your GMC Canyon by improving your rating.
- Occupation stress can make you pay more - Careers like doctors, airline pilots, and emergency personnel generally have higher rates than the rest of us due to stressful work requirements and long work hours. On the other hand, jobs such as actors, engineers and the unemployed receive lower rates.
- How your age affects rates - Youthful drivers in Tennessee are statistically proven to be easily distracted when driving with friends and because of this, their auto insurance rates are much higher. More experienced drivers are more responsible, tend to file fewer claims, and are safer drivers.
- More policies can equal more savings - The majority of auto insurance companies will give better rates to policyholders that have more than one policy in the form of a multi-policy discount. Even if you qualify for this discount already, drivers will still want to compare other Memphis Canyon insurance rates to help guarantee you have the best rates. Drivers may still save even more than the discount even if you have your coverage with different companies
- Drive lots and pay more - The more you drive annually the higher your rates will be. Most insurance companies charge rates based on their usage. Cars used primarily for pleasure use receive better premium rates as compared to vehicles used primarily for driving to work. It's a smart idea to ensure your auto insurance declarations sheet states the proper vehicle usage, because it can save money. A policy that improperly rates your Canyon may be costing you.
- Insurance loss data for a GMC Canyon - Companies factor in historical loss data when determining insurance rates. Vehicles that the data determines to have a trend towards higher claims will cost more for coverage.
The information below illustrates the historical insurance loss data for GMC Canyon vehicles. For each policy coverage type, the loss probability for all vehicles averaged together is considered to be 100. Percentages below 100 suggest losses that are better than average, while percentage numbers above 100 point to more losses or a tendency for claims to be larger.
Insurance Loss Ratings for GMC Canyon Vehicles
Vehicle 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
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When to have guidance from a local insurance agent
Some people still prefer to buy from a local agent. Most agents will help you protect your assets and will help you if you have claims. One of the benefits of comparing rate quotes online is that you can obtain the best rates and still choose a local agent. And buying from local insurance agents is definitely important in Memphis.
To find an agent, once you fill out this short form, the quote information is immediately sent to insurance agents in Memphis who will gladly provide quotes and help you find cheaper coverage. There is no need to search for any insurance agencies because prices are sent to the email address you provide. If you wish to compare prices from a specific auto insurance provider, just search and find their rate quote page to submit a rate quote request.
Different types of car insurance agents in Memphis
When researching a good insurance agency, it's helpful to know the types of insurance agents and how they differ in how they can insure your vehicles. Auto insurance agents in Memphis may be either exclusive or independent (non-exclusive). Either one can insure your vehicles properly, but we need to point out how they are different because it may have an impact on the type of agent you choose.
Agents in the independent channel are normally appointed by many insurers so they can write business through lots of different companies enabling the ability to shop coverage around. If prices rise, they simply move your policy to a different company which requires no work on your part.
If you need lower rates, we recommend you include rate quotes from at least one independent agent to have the best price comparison.
Featured below is a short list of independent insurance agencies in Memphis who may be able to give you free price quotes.
Exclusive Auto Insurance Agencies
Exclusive insurance agents work for only one company such as Allstate and State Farm. They generally cannot place coverage with different providers so keep that in mind. Exclusive agents are well trained on sales techniques which can be an advantage.
Below is a list of exclusive insurance agencies in Memphis who can help you get rate quotes.
Finding a good insurance agent should depend on more than just the premium amount. Ask your prospective agent these questions:
- Will one accident increase rates?
- In the event of vehicle damage, can you pick the collision repair facility?
- Do they have any clout with companies to ensure a fair claim settlement?
- Do they write coverage based solely on cost?
- Do they see any coverage gaps in your plan?
Do auto insurance companies bend the truth?
Consumers in Tennessee can't get away from ads for cheaper auto insurance from the likes of Progressive, GEICO, Allstate and State Farm. All the ads try to convey promises that you'll save big after switching to them.
How does every auto insurance company make almost identical claims? It's all in the words they use.
Companies offer their best rates for the driver that will most likely be profitable. One example of this type of risk profile may need to be between the ages of 30 and 50, carries high limits, and has great credit. A customer getting a price quote who matches those parameters will get very good Memphis premium rates and will most likely save a lot of money.
Potential customers who may not quite match those standards will be quoted more expensive rates and ends up with business not being written. Company advertisements say "people that switch" not "all people who quote" save that much when switching. That is how insurance companies can make those statements.
Because of this risk profiling, you really need to get Memphis car insurance quotes from several different companies. It's impossible to know the company that will have the lowest premium rates for your situation.
More quotes mean more insurance savings
More affordable insurance in Memphis is available both online and with local Memphis insurance agents, so get free Memphis car insurance quotes from both of them in order to have the best price selection to choose from. A few companies don't offer rates over the internet and these smaller companies work with independent agents.
When buying insurance coverage, never reduce needed coverages to save money. There have been many situations where consumers will sacrifice collision coverage only to discover later that the few dollars in savings costed them thousands. Your goal is to purchase plenty of coverage at the best price while not skimping on critical coverages.
Even more information is located by following these links:
- Drunk Driving Statistics (Insurance Information Institute)
- Who Has Affordable Tennessee Car Insurance Rates for Business Use? (FAQ)
- Who Has Affordable Car Insurance Rates for a Chevrolet Equinox in Tennessee? (FAQ)
- State Laws for Cellphones and Texting (iihs.org)
- What to do at the Scene of an Accident (Insurance Information Institute)
- Self-driving cars won't replace humans (Insurance Institute for Highway Safety)
- Tools for Teen Driving Safety (State Farm)