2005 Pontiac GTO Insurance Rates

Are you a victim of an underperforming, overpriced insurance policy? It’s a common feeling and you’re not the only one.

You have multiple car insurance companies to choose from, and even though it’s nice to be able to choose, it can be more challenging to find the best rates for your vehicles.

What determines Pontiac GTO insurance premiums?

Lots of factors are considered when quoting car insurance. Some are obvious such as your driving history, although others are not as apparent such as your marital status or how safe your car is.

The following are some of the most common factors used by insurance companies to determine your prices.

  • Older drivers pay less – Older drivers are proven to be safer behind the wheel, tend to cause fewer accidents .Inexperience drivers have been known to be less responsible when driving so they pay higher auto insurance rates.
  • What are your comp and collision deductibles? – Comp and collision deductibles tell how much you are willing to pay out-of-pocket before your auto insurance pays a claim. Physical damage coverage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Some coverage claims would be colliding with a stationary object, collision with a deer, and having a roll-over accident. The more damage repair cost the insured is willing to pay, the bigger discount you will receive for GTO coverage.
  • Policy add-ons add up – Policies have extra add-on coverages you can purchase on your 2005 GTO policy. Coverage for things like coverage for rental cars, better glass coverage, and Farm Bureau memberships may not be needed and are just wasting money. They may seem like a good idea when deciding what coverages you need, but if you don’t need them think about removing them and cutting costs.
  • Bundle policies and save money – Many companies give better rates to insureds who have multiple policies with them. It’s known as a multi-policy discount. This can amount to anywhere from five to ten percent in most cases. Even with this discount, it’s still a good idea to shop around to confirm you are receiving the best rates possible.
  • Occupation stress can make you pay more – Did you know that where you work can have an impact on rates? Occupations such as real estate brokers, social workers and emergency personnel tend to have higher average rates attributed to intense work-related stress and long work hours. Conversely, professions such as scientists, engineers and the unemployed receive lower rates for GTO coverage.
  • What’s your car’s NHTSA crash test rating? – Safer cars are cheaper to insure. Highly rated vehicles result in less severe injuries and better occupant protection means your insurance company pays less and cheaper rates on your policy. If your Pontiac GTO scored at minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you are probably receiving a discount.
  • Women tend to take less risk – Over the last 30 years, statistics show that men are more aggressive behind the wheel. The data does not necessarily mean that females are better drivers. They both cause at-fault accidents at a similar rate, but the males tend to have more serious accidents. In addition to higher claims, males also receive more major tickets such as DWI and reckless driving.
  • No claims equals cheaper premiums – If you are a frequent claim filer, you can pretty much guarantee either policy cancellation or increased premiums. Companies generally give the best rates to drivers who file claims infrequently. Auto insurance is designed for the bigger claims that can’t be paid out-of-pocket.

Drivers can save with these money-saving discounts

Auto insurance companies don’t always publicize every policy discount in a way that’s easy to find, so we took the time to find both the well known and the more hidden savings tricks you should be using when you buy insurance coverage online.

  • Own a Home and Save – Simply owning a home can help you save on car insurance since home ownership is proof of financial responsibility.
  • Auto/Home Discount – When you combine your auto and home insurance with the same insurance company you could get a discount of approximately 10% to 15%.
  • Sign Early and Save – Select car insurance companies give a discount for switching policies prior to your current policy expiring. It could save around 10% when you buy insurance coverage online.
  • Claim-Free Discount – Insureds with no claims or accidents have much lower rates as compared to bad drivers.
  • Safety Restraint Discount – Drivers who always wear seat belts and also require passengers to fasten their seat belts can save 10% or more on medical payment and PIP coverage.
  • Student Driver Training – Have your child enroll in driver’s education in school.

You can save money using discounts, but some credits don’t apply to all coverage premiums. A few only apply to specific coverage prices like collision or personal injury protection. So when the math indicates having all the discounts means you get insurance for free, companies wouldn’t make money that way.

Companies and some of the discounts include:

  • State Farm has discounts for good student, passive restraint, student away at school, driver’s education, and good driver.
  • Farmers Insurance discounts include teen driver, alternative fuel, pay in full, early shopping, and distant student.
  • Progressive may include discounts for good student, multi-vehicle, continuous coverage, online quote discount, multi-policy, online signing, and homeowner.
  • GEICO offers discounts including driver training, air bags, daytime running lights, defensive driver, emergency military deployment, good student, and federal employee.
  • Auto-Owners Insurance includes discounts for student away at school, good student, mature driver, group or association, multiple vehicles, and anti-lock brakes.
  • The Hartford offers discounts for good student, vehicle fuel type, bundle, anti-theft, air bag, driver training, and defensive driver.
  • Farm Bureau offers premium reductions for multi-vehicle, safe driver, renewal discount, driver training, multi-policy, good student, and 55 and retired.
  • USAA may have discounts that include good student, new vehicle, driver training, safe driver, multi-policy, and defensive driver.

If you are trying to find affordable insurance coverage quotes, ask every prospective company which discounts you may be entitled to. Some of the discounts discussed earlier may not apply in your area. To locate insurers with discount car insurance rates, follow this link.

Insurance coverage advertising gotchas

Popular insurance coverage providers such as State Farm, GEICO and Progressive seem to constantly run ads on TV and radio. All the companies make the point about saving some big amount if you change your insurance coverage policy to them. How does every company save you money? This is the trick they use.

Insurance providers can use profiling for the right customer that makes them money. For instance, a profitable insured may need to be married and over the age of 30, has a clear driving record, and drives less than 5,000 miles a year. Any new insured that meets those criteria is entitled to the best price and have a good chance to save when they switch companies.

Drivers who don’t qualify for the requirements will be charged higher premiums which leads to the customer buying from someone else. If you pay close attention to the ads, they say “people that switch” not “everybody who quotes” can get the lowest rates when switching. That is how insurance companies can confidently state the savings. Each company has different criteria, so you should do a rate comparison at every renewal. It is just not possible to predict the company that will have the best prices for your profile.

Do I need special coverages?

When it comes to buying adequate coverage for your personal vehicles, there is no one size fits all plan. Each situation is unique so this has to be addressed. For example, these questions may help you determine whether your personal situation might need an agent’s assistance.

  • Which companies will insure high-risk drivers?
  • What is roadside assistance coverage?
  • Am I covered if I drive in a foreign country?
  • Is my 2005 Pontiac GTO covered for flood damage?
  • When do I need to add a new car to my policy?
  • Should I drop comprehensive coverage on older vehicles?
  • What is high-risk coverage and where do I buy it?

If you can’t answer these questions then you might want to talk to a licensed insurance agent. If you don’t have a local agent, simply complete this short form or you can go here for a list of companies in your area.

Specifics of your car insurance policy

Knowing the specifics of your car insurance policy aids in choosing which coverages you need for your vehicles. The terms used in a policy can be impossible to understand and coverage can change by endorsement. These are typical coverage types offered by car insurance companies.

Coverage for medical payments – Med pay and PIP coverage kick in for short-term medical expenses such as funeral costs, pain medications, X-ray expenses, nursing services and dental work. They can be used to cover expenses not covered by your health insurance policy or if you are not covered by health insurance. It covers not only the driver but also the vehicle occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is not available in all states but can be used in place of medical payments coverage

Collision – This coverage pays to fix your vehicle from damage from colliding with another vehicle or an object, but not an animal. You have to pay a deductible and the rest of the damage will be paid by collision coverage.

Collision can pay for things like colliding with a tree, scraping a guard rail, crashing into a ditch and driving through your garage door. This coverage can be expensive, so you might think about dropping it from older vehicles. Another option is to raise the deductible to save money on collision insurance.

Comprehensive coverages – This coverage pays to fix your vehicle from damage that is not covered by collision coverage. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage protects against things like hail damage, rock chips in glass, a tree branch falling on your vehicle and damage from flooding. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if it’s not worth much more than your deductible consider removing comprehensive coverage.

Coverage for liability – Liability insurance protects you from damage that occurs to a person or their property. This insurance protects YOU against claims from other people, and doesn’t cover damage to your own property or vehicle.

Liability coverage has three limits: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 100/300/100 which means a $100,000 limit per person for injuries, $300,000 for the entire accident, and a total limit of $100,000 for damage to vehicles and property.

Liability can pay for claims like legal defense fees, bail bonds, medical expenses, court costs and repair costs for stationary objects. How much coverage you buy is up to you, but consider buying as high a limit as you can afford.

Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists do not carry enough liability coverage. Covered claims include injuries sustained by your vehicle’s occupants as well as damage to your Pontiac GTO.

Due to the fact that many drivers carry very low liability coverage limits, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is important protection for you and your family.

More quotes. Lower rates.

When buying insurance coverage, it’s very important that you do not sacrifice coverage to reduce premiums. There are many occasions where an insured dropped liability coverage limits to discover at claim time that it was a big error on their part. The goal is to buy the best coverage you can find for the lowest price while still protecting your assets.

We just showed you some good ideas how you can save on 2005 Pontiac GTO insurance. It’s most important to understand that the more you quote insurance coverage, the better your comparison will be. Consumers may even find the best prices are with a smaller regional carrier. These smaller insurers can often insure niche markets at a lower cost than their larger competitors like Progressive or GEICO.

A few companies may not have the ability to get quotes online and most of the time these smaller companies only sell coverage through independent agents. Cheaper 2005 Pontiac GTO insurance can be purchased on the web and from local insurance agents, and you need to comparison shop both to have the best rate selection.

Much more information about insurance is located at the links below