Wish you could get out of an underperforming, overpriced auto insurance policy? It’s a common feeling and many Chicago drivers feel the same as you.
A recent survey discovered that over 70% of consumers have been with the same company for a minimum of four years, and approximately 40% of consumers have never even compared rates from other companies. Chicago insurance shoppers can save roughly $600 each year just by shopping around, but most tend to underestimate the amount of money they would save if they moved their coverage to a different company.
With so many online and local companies to choose from, it’s difficult to pick the cheapest insurance company.
Smart consumers take time to compare prices every six months since insurance prices change regularly. Even if you think you had the best deal on GMC Yukon insurance in Chicago at your last renewal you can probably find a better rate quote now. Ignore everything you know about auto insurance because we’re going to demonstrate the right way to get good coverage on GMC Yukon insurance in Chicago at a lower rate.
Choosing the best rates in Chicago can really be easy if you know what you’re doing. If you are paying for car insurance now, you will most likely be able to find the best rates using the ideas covered in this article. Nevertheless, Illinois drivers benefit from understanding the methods companies use to determine prices because it can help you find the best coverage.
Keep in mind that comparing all the rates in your area increases your odds of finding more affordable insurance.
The auto insurance companies shown below are our best choices to provide price comparisons in Illinois. If multiple companies are listed, it’s highly recommended you visit two to three different companies to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Yukon SLE 2WD||$182||$316||$316||$18||$94||$926||$77|
|Yukon SLE 4WD||$290||$406||$342||$20||$102||$1,160||$97|
|Yukon SLT 2WD||$252||$418||$352||$20||$106||$1,148||$96|
|Yukon SLT 4WD||$152||$210||$266||$16||$80||$724||$60|
|Yukon Denali 2WD||$142||$232||$268||$16||$80||$738||$62|
|Yukon Denali 4WD||$178||$316||$274||$16||$82||$866||$72|
|Yukon Hybrid 2WD||$178||$382||$334||$20||$100||$1,014||$85|
|Yukon Hybrid 4WD||$134||$298||$334||$20||$100||$886||$74|
|Yukon Hybrid Denali 2WD||$170||$378||$356||$22||$106||$1,032||$86|
|Yukon Hybrid Denali 4WD||$298||$704||$384||$22||$114||$1,522||$127|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Illinois minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Estimates do not factor in specific location which can revise coverage prices greatly.
Full coverage rates vs. liability-only
The information below shows the difference between GMC Yukon insurance prices with full physical damage coverage compared to only buying liability only. The rates are based on no violations or accidents, $250 deductibles, single male driver, and no policy discounts are applied.
Are you wasting money paying for full coverage?
There is no exact rule to exclude comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.
For example, let’s assume your GMC Yukon settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, the most your company will settle for is $8,000 after you pay the deductible. If it’s costing you more than $800 annually for comprehensive and collision coverage, then it’s probably a good time to buy liability coverage only.
There are a few cases where removing full coverage is not recommended. If you still have a lienholder on your title, you have to maintain full coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should keep full coverage.
Protect your GMC vehicle and other assets
Despite the high cost, insurance is most likely required but also gives you several important benefits.
- Just about all states have minimum mandated liability insurance limits which means you are required to carry a minimum amount of liability coverage in order to get the vehicle licensed. In Illinois these limits are 20/40/15 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you took out a loan on your GMC, most lenders will make it mandatory that you have insurance to guarantee payment of the loan. If you cancel or allow the policy to lapse, the lender may insure your GMC for a lot more money and make you pay a much higher amount than you were paying before.
- Insurance protects both your assets and your GMC Yukon. Insurance will pay for all forms of medical expenses for yourself as well as anyone injured by you. Liability coverage will also pay to defend you if someone files suit against you as the result of an accident. If your vehicle suffers damage from an accident or hail, comprehensive (other-than-collision) and collision coverage will cover the damage repairs after a deductible is paid.
The benefits of carrying enough insurance greatly outweigh the cost, specifically if you ever have a liability claim. As of last year, the average driver in Illinois overpays as much as $750 every year so you should quote and compare rates at every policy renewal to help ensure money is not being wasted.
Decisions You Make Can Impact Your Insurance Premiums
Many things are considered when you quote your car insurance policy. A few of the factors are predictable like your driving record, although some other factors are more transparent like your continuous coverage or your vehicle rating.
- Bump up comp and collision deductibles to lower rates – Comp and collision deductibles are the amount of money you are required to spend before a claim is paid by your company. Protection for physical damage, aka comp and collision, protects your car from damage. A few examples of covered claims would be colliding with a stationary object, vandalism, and having a roll-over accident. The more damage repair cost the insured is willing to pay, the lower your rates will be.
- File insurance claims and pay more – If you file claims often, you should expect either a policy non-renewal or much higher rates. Car insurance companies in Illinois award most affordable rates to policyholders who file claims infrequently. Your insurance policy is meant to be used in the event of larger claims.
- Does car insurance cost more for men? – Over time, data shows women are more cautious behind the wheel. It does not mean men are worse drivers. Both genders are responsible for accidents in similar numbers, but men have costlier accidents. Not only are claims higher, but men get more serious tickets such as DWI and reckless driving. Young men ages 16 to 20 tend to get in the most accidents so they pay the highest premiums.
- Can a thief steal your car? – Choosing to buy a car that has an advanced theft prevention system can save you a little every year. Theft prevention devices like GM’s OnStar, tamper alarm systems and vehicle immobilizers all help stop your car from being stolen.
- Rates increase with driving citations – Just one citation can boost insurance rates by twenty percent. Careful drivers tend to pay less for car insurance than their less careful counterparts. Drivers who have received flagrant citations like DWI, reckless driving or hit and run convictions may need to complete a SR-22 with their state motor vehicle department in order to prevent a license revocation.
- GMC Yukon historical loss data – Car insurance companies take into consideration historical loss data for every vehicle to calculate a rate that offsets possible losses. Models that the statistics show to have increased losses will have a higher cost to insure. The table below illustrates the loss history for GMC Yukon vehicles.
For each policy coverage type, the loss probability for all vehicles, as an average, is a value of 100. Numbers shown that are under 100 are indicative of better than average losses, while numbers above 100 indicate frequent claims or an increased probability of a larger loss.
GMC Yukon Insurance Claim Statistics
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 Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Save money with these premium slashing discounts
Some insurance providers don’t always list every discount they offer in an easy-to-find place, so the list below contains a few of the more common and also the more inconspicuous credits available to you.
- Policy Bundle Discount – When you have multiple policies and insure them both with the same insurance company you may earn up to 20% off your total Yukon insurance premium.
- Anti-lock Brake Discount – Cars with ABS and/or traction control are much safer to drive and therefore earn up to a 10% discount.
- Clubs and Organizations – Participating in a civic or occupational organization in Chicago is a good way to get lower rates on car insurance.
- Defensive Driver – Taking time to complete a safe driver class could possibly earn you a 5% discount and also improve your driving technique.
- E-sign Discounts – A handful of companies will give you a small discount for buying your policy digitally online.
Don’t be surprised that some credits don’t apply to your bottom line cost. Most only reduce individual premiums such as comprehensive or collision. So even though it sounds like adding up those discounts means a free policy, car insurance companies aren’t that generous. But any discount will lower the cost of coverage.
Larger car insurance companies and the discounts they provide can be found below.
- GEICO may include discounts for membership and employees, air bags, good student, five-year accident-free, defensive driver, and anti-lock brakes.
- MetLife offers discounts including accident-free, good student, good driver, claim-free, and defensive driver.
- State Farm may offer discounts for defensive driving training, good driver, multiple policy, multiple autos, passive restraint, driver’s education, and anti-theft.
- Progressive offers premium reductions for online signing, continuous coverage, multi-vehicle, online quote discount, and homeowner.
- Mercury Insurance has discounts for good student, low natural disaster claims, professional/association, accident-free, and multi-car.
- 21st Century policyholders can earn discounts including air bags, teen driver, driver training, early bird, homeowners, good student, and anti-lock brakes.
- Allstate has savings for teenSMART discount, good student, early signing, economy car, and anti-lock brakes.
If you need cheaper Chicago car insurance quotes, ask all companies you are considering how many discounts you can get. Some of the discounts discussed earlier might not apply everywhere. To see insurance companies with the best GMC Yukon insurance discounts in Illinois, follow this link.
Which policy gives me the best coverage?
When selecting the best insurance coverage for your vehicles, there is no perfect coverage plan. You are unique.
Here are some questions about coverages that could help you determine if you might need professional guidance.
- Is my GMC Yukon covered for flood damage?
- If I drive on a suspended license am I covered?
- Am I covered when renting a car or should I buy coverage from the car rental agency?
- Can I still get insurance after a DUI?
- Do all my vehicles need collision coverage?
- What if I don’t agree with a claim settlement offer?
- Can I rate high risk drivers on liability-only vehicles?
- What is glass protection for?
If you don’t know the answers to these questions but one or more may apply to you, you might consider talking to an insurance agent. If you want to speak to an agent in your area, complete this form.
Insurance agents can help
Many drivers just want to sit down and talk to an agent and that is a personal choice. The biggest benefit of comparing rates online is the fact that drivers can get lower rates and still choose a local agent.
To make it easy to find an agent, after completing this form (opens in new window), the coverage information is submitted to agents in your area that can provide free Chicago car insurance quotes and help you find cheaper coverage. There is no need to do any legwork because prices are sent to you instantly. You can most likely find cheaper rates and an insurance agent to talk to. If you need to get a price quote from a specific insurance provider, you can always navigate to their website and submit a quote form there.
Picking the best provider requires more thought than just the bottom line cost. Before buying a policy in Chicago, get answers to these questions.
- How many years have they been established?
- How much will you save each year by using a higher deductible?
- Does the agency have a current Errors and Omissions policy?
- Will the company cover a rental car if your car is getting fixed?
- Does the agency provide any after hours assistance?
Shown below are Chicago auto insurance companies that can give you price quote information for GMC Yukon insurance in Chicago.
W.A. George Insurance Agency
155 N Michigan Ave #300 – Chicago, IL 60601 – (312) 729-5265 – View Map
Quote more and you will save more
We covered a lot of information how to save on GMC Yukon insurance in Chicago. The most important thing to understand is the more you quote Chicago car insurance, the higher your chance of finding inexpensive Chicago car insurance quotes. Consumers could even find that the best premium rates are with a company that doesn’t do a lot of advertising.
Budget-friendly car insurance in Chicago is available on the web and from local agencies, so you should compare both to get a complete price analysis. Some companies do not provide price quotes online and most of the time these regional insurance providers provide coverage only through local independent agents.
When trying to cut insurance costs, never skimp on critical coverages to save a buck or two. There are many occasions where an insured dropped liability limits or collision coverage only to regret at claim time that their decision to reduce coverage ended up costing them more. Your goal is to purchase a proper amount of coverage at the best possible price, but do not skimp to save money.
Additional detailed information is available by following these links:
- State Car Insurance Guides (GEICO)
- Who Has the Cheapest Chicago Car Insurance Rates for Business Use? (FAQ)
- Who Has Affordable Chicago Car Insurance Rates for Good Students? (FAQ)
- How Much are Chicago Car Insurance Rates for Unemployed Drivers? (FAQ)
- Speed and Speed Limit FAQ (iihs.org)
- Warning systems don’t curb driver distraction (Insurance Institute for Highway Safety)
- Choosing a Car for Your Teen (State Farm)
- Auto Insurance FAQ (Farmers Insurance)