Nobody enjoys paying for car insurance, in particular when the cost is too high.
Remarkably, a study showed that nearly 70% of customers kept their policy with the same company for well over three years, and practically 40% of car insurance customers have never shopped around. Drivers in Fort Wayne can cut their rates by $700 a year just by shopping around, but they don't know the actual amount they would save if they switched to a more affordable policy.
Consumers have multiple auto insurance companies to pick from, and even though it's nice to have a selection, lots of choices makes it harder to compare company pricing for GMC Terrain insurance in Fort Wayne.
Comparing quotes for more affordable coverage in Fort Wayne is actually quite simple. Just about every car owner who is looking for cheaper auto insurance will more than likely find better rates. But Indiana car owners do need to learn the methods companies use to sell insurance online because rates fluctuate considerably.
Many insurance companies give prices for coverage direct online. The process is pretty painless because it's just a matter of typing in your coverage preferences into a form. When the form is submitted, their quoting system orders reports for credit and driving violations and returns a price. Being able to quote online for GMC Terrain insurance in Fort Wayne makes it a lot easier to compare rates and it's absolutely necessary to perform this step if you want to find a better rate.
To compare rates now, check out the insurance providers below. If you have your current policy handy, we recommend you replicate the coverages identical to your current policy. This helps ensure you're receiving comparison quotes based on identical coverages.
The following companies can provide quotes in Indiana. If multiple companies are shown, we suggest you visit several of them in order to find the lowest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Terrain SLE 2WD||$134||$230||$238||$14||$72||$688||$57|
|Terrain SLE AWD||$176||$294||$238||$14||$72||$794||$66|
|Terrain SLT 2WD||$310||$514||$312||$18||$94||$1,248||$104|
|Terrain SLT AWD||$210||$444||$270||$16||$80||$1,020||$85|
|Get Your Own Custom Quote Go|
Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Indiana minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Rate quotes do not factor in garaging location in Fort Wayne which can lower or raise price quotes noticeably.
Do you need full coverage?
The information below shows the difference between GMC Terrain car insurance costs with liability coverage only compared to full coverage. The costs are based on no claims or driving citations, $250 deductibles, married male driver, and no policy discounts are applied.
When to stop buying full coverage
There is no definitive guideline for excluding comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is more than about 10% of the vehicle's replacement cost less your deductible, then you might want to think about dropping full coverage.
For example, let's pretend your GMC Terrain book value is $8,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $7,000 after you pay the deductible. If premiums are more than $700 a year to have full coverage, then you might want to think about dropping full coverage.
There are some scenarios where only buying liability is not financially feasible. If you still owe a portion of the original loan, you must maintain physical damage coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle if your current one is in an accident, you should not eliminate full coverage.
Drive responsibly or pay higher rates
The illustration below demonstrates how citations and at-fault collisions can impact GMC Terrain auto insurance rates for different age groups of insureds. The rates are based on a single male driver, full physical damage coverage, $500 deductibles, and no discounts are factored in.
Auto insurance just makes sense
Despite the fact that auto insurance is not cheap in Fort Wayne, maintaining insurance serves several important purposes.
First, almost all states have mandatory insurance requirements which means state laws require a specific minimum amount of liability protection in order to drive the car legally. In Indiana these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you took out a loan on your GMC Terrain, it's most likely the lender will make it a condition of the loan that you have comprehensive coverage to ensure the loan is repaid in case of a total loss. If you cancel or allow the policy to lapse, the bank may buy a policy for your GMC for a much higher rate and make you pay for it.
Third, insurance safeguards both your assets and your GMC. Insurance will pay for hospital and medical expenses for you, your passengers, and anyone else injured in an accident. Liability coverage, the one required by state law, will also pay to defend you if someone files suit against you as the result of an accident. If you have damage to your GMC as the result of the weather or an accident, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of carrying enough insurance definitely exceed the cost, particularly when you have a large claim. Unknowingly, the average driver is overpaying over $855 a year so it's important to compare rates at every policy renewal to be sure current rates are still competitive.
Truth in insurance advertising
Popular insurance providers such as Allstate, GEICO and Progressive regularly use television and radio advertisements. They all seem to advertise the message that you'll save big if you change your coverage. How can each company make almost identical claims? You have to listen carefully.
Most companies are able to cherry pick for the type of driver that is profitable for them. A good example of a profitable insured may be a married male, has few claims, and drives a vehicle with a low ISO rating. Any new insured that meets those criteria gets the lowest car insurance rates and will also save a lot on Fort Wayne GMC Terrain insurance if they switch.
Drivers who don't measure up to those standards will see higher prices and this can result in the customer not buying. If you pay attention, the ads say "drivers who switch" not "everyone that quotes" save the amount stated. This is how companies can claim big savings.
Because of this risk profiling, you need to compare as many free Fort Wayne auto insurance quotes as you can. It's just not possible to know the company that will have the lowest rates for your situation.
Discounts mean cheaper rates for GMC Terrain insurance in Fort Wayne
Auto insurance is not cheap nor is it fun to buy but you may be missing some discounts that could help you make your next renewal payment. Some trigger automatically at the time of quoting, but a few must be asked for before being credited.
- Multi-car Discount - Buying coverage for multiple cars with the same auto insurance company qualifies for this discount.
- Onboard Data Collection - People who choose to allow data collection to analyze their driving habits by using a telematic data system such as Drivewise from Allstate or Snapshot from Progressive could save a few bucks if they have good driving habits.
- Paper-free Discount - Some larger companies will give a small break simply for signing on your computer.
- Memberships - Being a member of a professional or civic organization is a simple method to lower premiums on auto insurance.
- Discounts for Federal Employees - Active or former government employment can earn a discount up to 10% depending on your auto insurance provider.
- Accident-Free Discounts - Insureds with no claims or accidents get the best auto insurance rates when compared to policyholders that have many claims.
- Senior Citizen Rates - Seniors may qualify for a small discount on rates.
- Early Payment Discounts - If you pay your entire premium ahead of time as opposed to paying monthly you could save up to 5%.
Policy discounts save money, but most discount credits are not given to the entire policy premium. A few only apply to specific coverage prices like liability and collision coverage. So when the math indicates you could get a free auto insurance policy, you won't be that lucky.
To see a list of insurers with significant discounts in Fort Wayne, click here.
Independent versus exclusive car insurance agents
Many drivers still like to have an agent's advice and there is nothing wrong with that. A nice benefit of comparing rate quotes online is that drivers can save money and get the best rates and still have a local agent. Buying insurance from neighborhood insurance agencies is still important in Fort Wayne.
To make it easy to find an agent, after completing this short form, your insurance data is instantly submitted to agents in your area who will give you quotes for your business. There is no need to contact an agency because prices are sent to your email. It's the lowest rates and an insurance agent to talk to. If you need to compare rates from a specific company, you would need to find their quoting web page and fill out the quote form the provide.
If you want to buy car insurance from a local Fort Wayne insurance agency, there are two types of agencies and how they differ in how they can insure your vehicles. Insurance agencies in Fort Wayne are classified as either exclusive or independent.
Independent Insurance Agents
Agents that choose to be independent often have many company appointments so they can write business with an assortment of companies and get you the best rates possible. If premiums increase, they simply move your policy to a different company without you having to go to a different agency.
If you are trying to find cheaper rates, it's a good idea to include price quotes from several independent insurance agents so that you can do a thorough price comparison.
Listed below is a list of independent agencies in Fort Wayne who can help you get free price quotes.
Exclusive Insurance Agents
Agents in the exclusive channel work for only one company and some examples include American Family, State Farm, and Allstate. Exclusive agencies are unable to give you multiple price quotes so they have no alternatives for high prices. Exclusive agencies receive extensive training on their company's products which helps them sell insurance even at higher premiums.
The following are Fort Wayne exclusive insurance agents that can give you price quotes.
John Hayes - State Farm Insurance Agent
6407 Stellhorn Rd - Fort Wayne, IN 46815 - (260) 486-4711 - View Map
Picking the best car insurance agent is decision based upon more than just the quoted price. Agents should be asked these questions:
- How would your car be valued if totalled?
- Where would glass claims be handled in Fort Wayne?
- Where are claims handled?
- Does the agency have a good rating with the Better Business Bureau?
- Do they have adequate Errors and Omissions coverage? This protects you if they make a mistake.
- How many years have they been established?
- Will high miles depreciate repair valuations?
Knowing the specifics of auto insurance can help you determine the best coverages for your vehicles. The coverage terms in a policy can be impossible to understand and even agents have difficulty translating policy wording. Listed below are the usual coverages offered by auto insurance companies.
Medical payments and PIP coverage
Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses such as EMT expenses, X-ray expenses and hospital visits. They can be used to fill the gap from your health insurance policy or if you lack health insurance entirely. It covers both the driver and occupants and will also cover being hit by a car walking across the street. Personal injury protection coverage is not universally available and gives slightly broader coverage than med pay
This pays to fix your vehicle from damage caused by collision with another car or object. A deductible applies then your collision coverage will kick in.
Collision insurance covers claims such as backing into a parked car, driving through your garage door, hitting a parking meter and colliding with another moving vehicle. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Another option is to raise the deductible on your Terrain to get cheaper collision coverage.
Comprehensive auto coverage
This coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.
Comprehensive coverage protects against things such as a broken windshield, hitting a bird, rock chips in glass and hitting a deer. The highest amount your auto insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle's value it's not worth carrying full coverage.
UM/UIM (Uninsured/Underinsured Motorist) coverage
Your UM/UIM coverage protects you and your vehicle from other motorists when they either have no liability insurance or not enough. Covered claims include hospital bills for your injuries as well as your vehicle's damage.
Since many Indiana drivers only purchase the least amount of liability that is required (25/50/10 in Indiana), their liability coverage can quickly be exhausted. So UM/UIM coverage is a good idea. Normally the UM/UIM limits do not exceed the liability coverage limits.
Liability auto insurance
This can cover damages or injuries you inflict on people or other property by causing an accident. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have policy limits of 25/50/10 that means you have a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and $10,000 of coverage for damaged propery. Alternatively, you may have a combined single limit or CSL that pays claims from the same limit rather than limiting it on a per person basis.
Liability can pay for things like repair bills for other people's vehicles, legal defense fees and funeral expenses. How much liability coverage do you need? That is your choice, but it's cheap coverage so purchase as high a limit as you can afford. Indiana state law requires minimum liability limits of 25/50/10 but drivers should carry better liability coverage.
You can lower your auto insurance rates
You just learned a lot of tips how to shop for GMC Terrain insurance online. The most important thing to understand is the more rate quotes you have, the better likelihood of getting affordable Fort Wayne auto insurance quotes. Drivers may even discover the best price on auto insurance is with a small local company. Some small companies may have significantly lower premium rates on certain market segments compared to the large companies like GEICO and State Farm.
Budget-friendly auto insurance in Fort Wayne is attainable both online as well as from independent agents in Fort Wayne, and you need to price shop both to have the best chance of lowering rates. A few companies don't offer the ability to get a quote online and these regional insurance providers sell through local independent agents.
Additional detailed information is available in these articles:
- Airbag FAQ (iihs.org)
- Who Has Cheap Auto Insurance Rates for Drivers Over Age 70 in Indiana? (FAQ)
- Who Has the Cheapest Indiana Auto Insurance for a Learners Permit? (FAQ)
- Who Has the Cheapest Indiana Auto Insurance for Low Mileage Drivers? (FAQ)
- State Car Insurance Guides (GEICO)
- Auto Theft Statistics (Insurance Information Institute)
- Insurance losses by make and model (Insurance Institute for Highway Safety)