Unbelievably, most insurance policyholders in Michigan have stayed with the same insurance company for at least the last four years, and almost 40% of drivers have never even compared quotes to find lower-cost rates. Consumers in the U.S. can save approximately $859 each year just by shopping around, but they just don’t understand how easy it is to compare other rate quotes.
It takes a little time, but the best way to get affordable GMC Acadia insurance in Detroit is to start doing a yearly price comparison from insurance carriers who provide car insurance in Michigan. Price quotes can be compared by following these guidelines.
Step 1: Learn about how insurance works and the factors you can control to prevent high rates. Many things that drive up the price like getting speeding tickets and a less-than-favorable credit history can be rectified by making small lifestyle or driving habit changes. Later in this article we will cover more ideas to help prevent expensive coverage and get additional discounts that may be available.
Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. 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 multiple insurance companies.
Step 3: Compare the new rates to the price on your current policy to determine if switching companies saves money. If you find a lower rate and change companies, ensure there is no coverage lapse between policies.
Step 4: Notify your agent or company of your intention to cancel your current auto insurance policy. Submit a completed policy application and payment to the new company. Once the application is submitted, store the proof of insurance certificate somewhere easily accessible.
The most important part of shopping around is to try to compare similar deductibles and liability limits on every quote and and to get quotes from as many companies as feasibly possible. Doing this ensures a level playing field and the best price quote selection.
If you currently have a car insurance policy, you will be able to get lower rates using these techniques. Locating the best insurance company for you in Detroit is quite easy. Although Michigan vehicle owners need to have an understanding of how companies market insurance on the web because it varies considerably.
Most larger insurance companies like State Farm and Allstate provide prices on their websites. Comparing prices online for GMC Acadia insurance in Detroit can be done by anyone as you simply type in the amount of coverage you want into the quote form. Behind the scenes, the company’s rating system will obtain credit information and your driving record and gives you a price quote based on many factors. This simplifies rate comparisons, and it’s also necessary to compare as many rates as possible in order to find cheap prices.
To save time and fill out one form to compare multiple rates now, check out the auto insurance providers below. If you have a policy now, it’s recommended that you enter the limits and deductibles identical to your current policy. Using the same limits helps guarantee you will have a rate comparison using the same coverage and limits.
The companies shown below have been selected to offer free rate quotes in Michigan. If you wish to find the best car insurance in Michigan, we recommend you compare several of them to get a more complete price comparison.
GMC Acadia coverage analysis
The data table displayed below outlines estimates of insurance rates for GMC Acadia models. Learning a little about how auto insurance premiums are calculated is important for you to make decisions on the best policy coverages.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Acadia SL 2WD | $324 | $584 | $780 | $46 | $234 | $1,968 | $164 |
| Acadia SL AWD | $374 | $584 | $780 | $46 | $234 | $2,018 | $168 |
| Acadia SLE 2WD | $374 | $584 | $780 | $46 | $234 | $2,018 | $168 |
| Acadia SLE AWD | $374 | $710 | $780 | $46 | $234 | $2,144 | $179 |
| Acadia SLT 2WD | $374 | $710 | $780 | $46 | $234 | $2,144 | $179 |
| Acadia SLT AWD | $422 | $710 | $780 | $46 | $234 | $2,192 | $183 |
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Data variables include single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Michigan minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Price estimates do not factor in garaging location in Detroit which can change price quotes substantially.
Safe drivers Detroit pay cheaper rates
The illustration below illustrates how violations and fender-benders can drive up GMC Acadia annual premium costs for each age group. The rate quotes are based on a single male driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.
Liability only or full coverage
The diagram below shows the difference between GMC Acadia insurance costs with full physical damage coverage and with liability coverage only. The price estimates are based on no tickets, no at-fault accidents, $250 deductibles, marital status is single, and no policy discounts are applied.
When to drop comp and collision
There is no exact rule to eliminate full coverage on your policy, but there is a general guideline. If the annual cost of coverage is more than 10% of the replacement cost minus the deductible, then it might be time to buy liability only.
For example, let’s assume your GMC Acadia replacement cost is $4,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company would pay you is $3,000 after paying your policy deductible. If you are paying in excess of $300 annually for your policy with full coverage, then it may be the right time to buy liability only.
There are some cases where buying only liability insurance is not a good idea. If you have an outstanding loan on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest in the vehicle. Also, if your finances do not allow you to purchase a different vehicle if your current one is totaled, you should keep full coverage in place.
How Insurers Determine GMC Acadia Insurance Costs
Consumers need to have an understanding of the rating factors that go into determining the rates you pay for auto insurance. If you know what influences your rates, this allows you to make good choices that can earn you better auto insurance rates. Lots of things are taken into consideration when quoting car insurance. Some factors are common sense such as your driving record, but other criteria are not quite as obvious like your vehicle usage or how safe your car is.
The list below includes some of the items auto insurance companies consider when setting your rate level.
More than one policy can earn a discount – Most larger companies apply better rates for people who have multiple policies with them, otherwise known as a multi-policy discount. If you currently are using one company, it’s still a good idea to check prices from other companies to help ensure you have the lowest rates.
Drive a fast car and pay more – The performance of the car you own makes a substantial difference in your car insurance bill. Lower performance four cylinder passenger cars usually have the lowest rates, but the final cost of insurance is determined by many other factors.
The chart below uses these variables: single female driver age 20, full coverage with $100 deductibles, and no discounts or violations. It illustrates GMC Acadia insurance rates compared to other vehicles that have different performances.
Prices impacted by vehicle usage – The more miles you rack up on your GMC in a year the more you’ll pay to insure it. Most insurance companies rate vehicles based upon how much you drive. Vehicles used primarily for pleasure use receive better premium rates than cars that get driven a lot. An improperly rated Acadia can cost quite a bit. Make sure your auto insurance declarations sheet properly reflects how each vehicle is driven.
Eliminate extra policy coverages – There are a ton of extra coverages that you can get tricked into buying when buying auto insurance. Insurance for rental car reimbursement, death and dismemberment, and motor club memberships are some examples. They may seem good when deciding what coverages you need, but now you might not need them so consider taking them off your policy.
Insurance loss statistics a GMC Acadia – Insurers factor in historical loss data when they calculate premium prices for each model. Vehicles that tend to have higher claim frequency or loss amount will cost more for specific coverages.
The table below outlines the loss history for GMC Acadia vehicles. For each policy coverage type, the claim probability for all vehicles compiled together is considered to be 100. Numbers under 100 suggest a positive loss record, while values that are 100 or greater point to more claims or an increased probability of a larger loss.
| Specific GMC Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| GMC Acadia 4dr 2WD | 75 | 86 | 73 | 71 | 69 | 80 |
| GMC Acadia 4dr 4WD | 83 | 100 | 88 | 62 | 63 | 80 |
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Why you need car insurance
Despite the potentially high cost of GMC Acadia insurance, maintaining insurance is required in Michigan but also provides important benefits.
- Most states have minimum mandated liability insurance limits which means state laws require a minimum amount of liability protection if you don’t want to risk a ticket. In Michigan these limits are 20/40/10 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a loan on your GMC, most banks will make it mandatory that you carry insurance to guarantee their interest in the vehicle. If coverage lapses or is canceled, the lender will be forced to insure your GMC at an extremely high rate and require you to pay the higher price.
- Car insurance protects both your assets and your GMC. It also can pay for hospital and medical expenses for yourself as well as anyone injured by you. One policy coverage, liability insurance, will also pay for a defense attorney if someone files suit against you as the result of an accident. If your car is damaged in a storm or accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of buying enough insurance more than offset the price you pay, particularly if you ever have a claim. According to a recent study, the average American driver is currently overpaying as much as $800 each year so shop around once a year at a minimum to save money.