It’s well known that insurance companies want to keep you from comparing prices. Drivers who get price quotes annually will, in all likelihood, buy a new policy because the odds are good of finding a more affordable policy premium. A recent survey revealed that people who routinely compared quotes saved about $860 a year compared to policyholders who never shopped around for lower prices.
If finding budget-friendly rates on GMC Yukon insurance in Madison is the reason you’re here, then having a grasp of how to choose a company and compare coverages can help you be more efficient.
If you want to find the absolute lowest rates, then the best way to get cheaper GMC Yukon insurance is to compare prices regularly from insurance carriers who provide auto insurance in Madison.
First, take a little time to learn about auto insurance and the measures you can control to prevent expensive coverage. Many rating criteria that are responsible for high rates like tickets, at-fault accidents, and an unfavorable credit rating can be improved by making lifestyle changes or driving safer. Continue reading for ideas to keep prices down and get additional discounts that may have been overlooked.
Second, request price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from one company like GEICO and Allstate, while independent agents can provide rate quotes from multiple insurance companies.
Third, compare the new rate quotes to your existing policy and see if there is a cheaper rate. If you find a lower rate quote and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.
Fourth, provide notification to your current company of your intention to cancel your current coverage. Submit a signed application and payment for the new coverage. Make sure you put the new proof of insurance paperwork somewhere easily accessible.
An important bit of advice to remember is to use the same amount of coverage on every price quote and and to get price quotes from as many different companies as possible. This enables an apples-to-apples comparison and a complete rate analysis.
Best companies for GMC Yukon insurance
The car insurance companies shown below are ready to provide free rate quotes in Madison, WI. If you want cheap car insurance in Wisconsin, we recommend you click on several of them to get the best price comparison.
Analysis of GMC Yukon rates
The rate information shown below highlights detailed analysis of insurance premium costs for GMC Yukon models. Having a good understanding how rates are calculated can assist in making informed coverage decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Yukon 2WD | $214 | $404 | $298 | $18 | $90 | $1,024 | $85 |
| Yukon SLE 2WD | $214 | $404 | $298 | $18 | $90 | $1,024 | $85 |
| Yukon 4WD | $214 | $404 | $298 | $18 | $90 | $1,024 | $85 |
| Yukon SLE 4WD | $214 | $404 | $298 | $18 | $90 | $1,024 | $85 |
| Yukon SLT 2WD | $214 | $404 | $298 | $18 | $90 | $1,024 | $85 |
| Yukon SLT 4WD | $238 | $404 | $298 | $18 | $90 | $1,048 | $87 |
| Yukon Denali 2WD | $238 | $476 | $298 | $18 | $90 | $1,120 | $93 |
| Yukon Denali 4WD | $238 | $476 | $298 | $18 | $90 | $1,120 | $93 |
| Yukon Hybrid 2WD | $238 | $548 | $338 | $20 | $102 | $1,246 | $104 |
| Yukon Hybrid 4WD | $238 | $548 | $338 | $20 | $102 | $1,246 | $104 |
| Yukon Hybrid Denali 2WD | $264 | $620 | $338 | $20 | $102 | $1,344 | $112 |
| Yukon Hybrid Denali 4WD | $264 | $620 | $338 | $20 | $102 | $1,344 | $112 |
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, claim-free, and safe-driver. Premium costs do not factor in vehicle garaging location which can decrease or increase auto insurance rates significantly.
What Affects GMC Yukon Insurance Rates?
Many factors are used when pricing auto insurance. Some are obvious such as traffic violations, but other criteria are not as apparent such as your credit history or your financial responsibility.
Shown below are just a few of the factors car insurance companies consider when setting your premiums.
Improve your credit rating and save – Having a bad credit history is likely to be a major factor in calculating your premium rate. Consumers who have high credit ratings tend to be more responsible and file fewer claims as compared to drivers with poor credit. If your credit leaves room for improvement, you could potentially save money when insuring your GMC Yukon by spending a little time repairing your credit.
Avoid traffic tickets – Just one speeding ticket can increase rates twenty percent or more. Drivers with clean records receive lower rates compared to bad drivers. Drivers who have multiple tickets like DUI or willful reckless driving may need to file a proof of financial responsibility form (SR-22) with their state in order to continue driving.
The information below highlights how traffic violations and at-fault claims can raise GMC Yukon car insurance costs for different ages of insureds. The information is based on a married male driver, comprehensive and collision coverage, $1,000 deductibles, and no discounts are applied to the premium.
Discounts for married drivers – Your spouse may save some money on your policy. It may mean you are more responsible and statistics prove drivers who are married file infrequent claims.
Frequent car insurance claims will cost you more – Companies in Wisconsin give cheaper rates to drivers who are claim-free. If you’re an insured who likes to file claims you can pretty much guarantee increased rates or even have your policy non-renewed. Your insurance policy is intended to be relied upon for more catastrophic claims.
GMC Yukon historical loss data – Insurance companies analyze historical claim data to help calculate a profitable premium price. Vehicles that historically have higher claim frequency or loss amount will have higher rates. The table below illustrates the compiled insurance loss statistics for GMC Yukon vehicles.
For each policy coverage type, the statistical loss for all vehicles, without regard to make or model, is equal to 100. Numbers that are below 100 imply a favorable loss record, while numbers shown that are more than 100 point to more losses or an increased probability of a larger loss.
| 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
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Cheap Madison car insurance rates with discounts
Car insurance is expensive, but you may qualify for discounts that many consumers don’t even know exist. Certain discounts will be triggered automatically at the time you complete a quote, but a few must be requested specifically prior to receiving the credit. If you don’t get every credit possible, you could be paying more than you need to.
- Claim Free – Madison drivers who stay claim-free pay much less in comparison to accident-prone drivers.
- Early Switch Discount – A few companies offer discounts for renewing your policy before your current Yukon insurance policy expires. This can save 10% or more.
- Pay Now and Pay Less – If you pay your bill all at once instead of making monthly payments you could save up to 5%.
- Own a Home – Being a homeowner may trigger a policy discount on car insurance since home ownership requires personal responsibility.
- Student Discounts – Getting good grades could provide a savings of up to 20% or more. The good student discount can last up to age 25.
- Telematics Discount – Insureds who allow their car insurance company to analyze driving manner by using a telematics device in their vehicle such as Progressive’s Snapshot might see lower rates if they exhibit good driving behavior.
- Low Mileage Discounts – Fewer annual miles on your GMC may allow you to get substantially lower premium rates.
- Student in College – College-age children who live away from home to go to college and do not have access to a covered vehicle may be able to be covered for less.
- Life Insurance – Larger car insurance companies have a lower car insurance rate if you buy life insurance.
- Waiver for an Accident – Not necessarily a discount, but certain companies will allow you to have one accident without raising rates if you have no claims for a certain period of time.
As is typical with insurance, some credits don’t apply to the overall cost of the policy. Most only reduce specific coverage prices like comprehensive or collision. If you do the math and it seems like you could get a free car insurance policy, nobody gets a free ride. But all discounts will cut your policy cost.
The information below compares GMC Yukon annual premium costs with and without discounts applied. The costs are based on a female driver, no violations or accidents, Wisconsin state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, claim-free, marriage, multi-policy, and homeowner discounts applied.
Companies that may include many of the previously listed discounts include:
If you want affordable Madison car insurance quotes, ask every insurance company the best way to save money. A few discounts might not apply in every state.
Buying car insurance from Madison insurance agencies
A small number of people would rather sit down with an agent and often times that is recommended Good agents are trained to spot inefficiencies and help you file claims. The biggest benefit of price shopping on the web is the fact that drivers can get lower premium rates and still choose a local agent.
By using this quick form, your insurance coverage information is submitted to participating agents in Madison who will give you bids and help you find cheaper coverage. You never need to leave your house since price quotes are sent directly to you. If you need to compare prices from one company in particular, just jump over to their website to submit a rate quote request.
Finding the right provider needs to be determined by more than just a cheap price quote. You should also get answers to these questions.
- If you raise deductibles, how much can you save?
- Can they help ensure a fair claim settlement?
- What insurance companies do they work with in Madison?
- Do they make recommendations based only on price?
- How many years of experience in personal auto insurance do they have?
- Are they full-time agents?
- Are you getting all the discounts the company offers?
Different types of auto insurance agents in Madison
When searching for a reliable insurance agent, it helps to know the two types of insurance agents and how they operate. Agents are categorized either exclusive agents or independent agents. Either one can insure your vehicles, but it’s worth learning the difference between them since it may influence your selection of an agent.
Exclusive Agents
Agents in the exclusive channel normally can only provide a single company’s rates like Allstate, Farmers Insurance, State Farm, and AAA. They generally cannot compare rates from other companies so if the price isn’t competitive there isn’t much they can do. They are trained well on their company’s products which helps offset the inability to provide other markets.
Listed below is a short list of exclusive agents in Madison willing to provide rate quotes.
Aaron Perry – State Farm Insurance Agent
2605 Monroe St – Madison, WI 53711 – (608) 238-7107 – View Map
Farmers Insurance
2317 International Ln – Madison, WI 53704 – (608) 249-7380 – View Map
Farmers Insurance – Allen Maxwell
2980 Cahill Main #205 – Madison, WI 53711 – (608) 630-9776 – View Map
Independent Agents (or Brokers)
Agents that choose to be independent are not employed by one company so as a result can place your coverage with lots of companies and potentially find a lower price. If premiums increase, your agent can switch companies which is easy for the insured. When comparing rates, it’s a good idea to get some free quotes from at a minimum one independent agency to have the most options to choose from.
The following is a short list of independent agencies in Madison who can help you get rate quotes.
Gehrke Insurance
1310 Mendota St # 108 – Madison, WI 53714 – (608) 241-4136 – View Map
Homewood Insurance Agency
583 D’onofrio Dr Ste. 1012 – Madison, WI 53719 – (608) 442-6666 – View Map
Stainbrook Agency
2810 Crossroads Dr #4000 – Madison, WI 53718 – (608) 535-9291 – View Map
Insurance can get complicated
When quoting and choosing the right insurance coverage for your personal vehicles, there is no one-size-fits-all type of policy. Each situation is unique.
For example, these questions could help you determine whether or not you may require specific advice.
- Is my GMC Yukon covered for flood damage?
- Does my insurance cover a custom paint job?
- Does coverage extend to my business vehicle?
- Are my friends covered when driving my GMC Yukon?
- What is no-fault insurance?
- Is business equipment covered while in my vehicle?
- Can I still get insurance after a DUI?
If it’s difficult to answer those questions but you know they apply to you, then you may want to think about talking to an agent. If you don’t have a local agent, complete this form. It’s fast, doesn’t cost anything and may give you better protection.
Persistent drivers can save
When trying to cut insurance costs, you should never reduce coverage to reduce premium. In many cases, consumers will sacrifice liability coverage limits and discovered at claim time that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to buy the best coverage you can find at the best cost, not the least amount of coverage.
We’ve covered a lot of techniques to shop for GMC Yukon insurance online. It’s most important to understand that the more times you quote, the higher the chance of saving money. You may even find the lowest prices are with some of the lesser-known companies.
People leave their current company for many reasons like poor customer service, unfair underwriting practices, delays in responding to claim requests or delays in paying claims. Whatever your reason, choosing a new company is actually quite simple.
Additional articles
- Property Damage Coverage (Liberty Mutual)
- Who Has Affordable Madison Car Insurance Quotes for Low Mileage Drivers? (FAQ)
- Who Has Cheap Auto Insurance for 16 Year Olds in Madison? (FAQ)
- How Much are Auto Insurance Rates for Retired Military in Madison? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Government Employees in Madison? (FAQ)
- Car Insurance FAQ (Trusted Choice)
- All About Airbag Safety (State Farm)
- Tools for Teen Driving Safety (State Farm)
- Learn About Car Insurance (GEICO)