As we mentioned earlier, GMC has four core brands of cars but within each of those brands there is quite a variety of vehicles. It makes the question “How much is insurance for a GMC?” a tough one to answer. Your insurance rate can be higher or lower depending on which GMC vehicle you are planning to purchase. Here’s why.
Insurance companies consider a multitude of things when determining the likelihood that an applicant will eventually file a claim for damage to their vehicle. The province you live in, whether you work in town or the city, how long you’ve been driving, your past driving record, your insurance history, vehicle type, model, safety features, safety rating — these are just some of the variables considered.
To give you a sense of how even just one variable can influence the cost of your insurance, consider vehicle type. For example, an entry-level, commuter vehicle like the 2-door Chevrolet Spark will command a lower insurance premium than the Chevrolet Camaro sports car. Why? Sports cars are relatively rare on Canadian roads and the cost to repair them is higher than your average sedan.
Canadian insurance companies also refer to the Claims Loss Experience Automobile Rating system to help them gauge how likely a GMC vehicle will be involved in a claim and what that claim is projected to cost.
Insurance claims on a GMC or any other brand of vehicle are usually the result of one of three things: collisions, injury or theft.
Theft may seem like the less likely cause of a claim but consider this: in Atlantic Canada, the Chevrolet Silverado pickup truck is the most stolen vehicle. Since it is, if you’re a resident of Atlantic Canada and are thinking of purchasing a Silverado you are likely going to pay a little more for your insurance coverage than you would if you bought a different brand of truck. This is a good example of why the average insurance price isn’t a reliable benchmark to base your budget on and why it’s better to get quotes specifically for the GMC vehicle you are considering.
Another thing to keep in mind is that in British Columbia, Saskatchewan and Manitoba car insurance is government-run. Meanwhile, in the Atlantic provinces, Quebec, Ontario and Alberta car insurance is only offered by private companies. Generally, if you are a high-risk driver you will pay more for insurance offered by a private company than you would a government-run plan.
If you’re looking for the best insurance rates for a GMC, start with a quote. LowestRates.ca will help you find an insurance policy for your GMC that meets your needs, for free.
To give you a general sense of the average insurance cost for a GMC, whether you’re buying insurance for the first time or it’s an insurance renewal on your GMC, some estimated premiums are below.
Here are real some GMC car insurance rates offered to recent LowestRates.ca users.