Cheapest 2005 Pontiac GTO Insurance Rates in 2024

Searching for the cheapest insurance rates for your Pontiac GTO? Sick and tired of robbing Peter to pay Paul each month for car insurance? You are no different than millions of other consumers.

Companies like Allstate, Progressive and GEICO constantly blast consumers with ads and it is difficult to see through the cute green geckos and mayhem and effectively compare rates to find the best deal.

If you currently have car insurance, you will most likely be able to lower your premiums substantially using these techniques. Buying car insurance is easy if you know what you’re doing. Although car owners can benefit from knowing how companies sell online.

How to Get Cheap Insurance

The are a couple different ways to get quotes from local insurance companies. The easiest way to find competitive 2005 Pontiac GTO insurance rates consists of shopping online. This is very easy and can be done in just a few minutes using one of these methods.

• The best way consumers can make multiple comparisons is a comparison rater form (click to open form in new window). This form saves time by eliminating separate forms for each company. One quote request will get you rate comparisons direct from many companies.
• A less efficient way to obtain and compare quotes online consists of going to each company website to complete a price quote. For instance, let’s say you want rates from Progressive, GEICO and Travelers. To get rate quotes you would need to visit each site to input your insurance information, which is why the first method is more popular. For a list of links to companies insuring cars in your area, click here.
• The least efficient method to get comparison rates is to spend your day driving to local insurance agencies. The internet can eliminate the need for a local agent unless you have a need for the professional guidance that only a license agent can provide. However, consumers can get the lowest quotes online but buy from a local insurance agent. We’ll cover that shortly.

It’s up to you how you get prices quotes, just make darn sure you compare identical coverage information for each comparison quote. If you enter unequal deductibles or liability limits then you won’t be able to determine the best price for your Pontiac GTO. Just a small difference in coverage limits may cause a big price difference. And when price shopping your coverage, quoting more gives you a better chance of getting better pricing.

More discounts equal less premium

The cost of insuring your cars can be expensive, but you can get discounts to help bring down the price. Larger premium reductions will be automatically applied when you get a quote, but a few need to be requested specifically before they will apply.

• Driver’s Ed – Make teen driver coverage more affordable by requiring them to successfully complete driver’s ed class if offered at their school.
• Clubs and Organizations – Participating in a professional or civic organization is a good way to get lower rates when shopping for insurance for GTO insurance.
• Multi-policy Discount – When you have multiple policies with the same insurance company you may save at least 10% off all policies.
• Paperless Signup – A few companies give back up to $50 simply for signing over the internet.
• Air Bag Discount – Factory air bags and/or automatic seat belt systems can get savings of up to 25% or more.
• Defensive Driver – Taking part in a course in driver safety could save 5% or more if you qualify.
• Discount for Good Grades – This discount can get you a discount of up to 25%. The good student discount can last up until you turn 25.
• Low Mileage – Keeping the miles down on your Pontiac can qualify you for lower rates on the low mileage vehicles.

It’s important to understand that most of the big mark downs will not be given to the entire policy premium. Most only apply to individual premiums such as medical payments or collision. So even though they make it sound like all those discounts means the company will pay you, you won’t be that lucky. But all discounts will cut your premiums.

A partial list of companies who might offer these discounts include:

• Farm Bureau
• State Farm
• Progressive
• Allstate
• Nationwide
• MetLife

Double check with every prospective company how you can save money. Discounts might not be offered everywhere.

It’s not one size fits all

When it comes to choosing proper insurance coverage, there is no best way to insure your cars. Every insured’s situation is different so your insurance needs to address that. Here are some questions about coverages that may help highlight if your insurance needs might need professional guidance.

• What is no-fault insurance?
• Do I have coverage when making deliveries for my home business?
• Do all my vehicles need collision coverage?
• Why is insurance for a teen driver so high?
• Will my rates increase for filing one claim?
• Why do I need rental car insurance?
• Does insurance cover damages from a DUI accident?
• Am I insured when driving a different vehicle?
• I don’t drive much so do I pay less?
• Can I afford to buy a different vehicle if my 2005 Pontiac GTO is totaled?

If it’s difficult to answer those questions then you might want to talk to a licensed insurance agent. To find lower rates from a local agent, complete this form or you can go here for a list of companies in your area.

Pontiac GTO rates influenced by many factors

Smart consumers have a good feel for some of the elements that play a part in calculating insurance rates. Knowing what determines base rates enables informed choices that will entitle you to big savings.

• Marriage brings a discount – Being married can actually save you money on your policy. Having a spouse translates into being more mature and it’s proven that married couples file fewer claims.
• How many coverages with the same company – The majority of insurance companies provide better rates to policyholders who have multiple policies with them such as combining an auto and homeowners policy. This can amount to ten or even up to twenty percent in some cases. Even though this discount sounds good, it’s in your best interest to compare rates to confirm you are receiving the best rates possible. Consumers may find better rates by buying insurance from more than one company.
• Do you work long hours in a high stress job? – Did you know your occupation can influence how much you pay for insurance? Occupations like real estate brokers, executives and dentists tend to have the highest average rates attributed to job stress and lots of time spent at work. Other jobs such as scientists, historians and homemakers receive lower rates for GTO insurance.
• Don’t buy coverages you don’t need – There are many extra coverages that can waste your money if you aren’t careful. Coverages like roadside assistance, accident forgiveness and membership fees may be costing you every month. They may seem like a good idea when you first buy your policy, but your needs may have changed so get rid of them and save.
• How your age affects price – Teen drivers are statistically proven to be careless and easily distracted when behind the wheel so insurance rates are higher. Older insureds are more cautious drivers, statistically cause fewer accidents and are safer drivers.
• Where you live can impact rates – Living in less populated areas can be a good thing when insuring your vehicles. Drivers who live in large cities have to deal with much more traffic and longer commute times. Fewer drivers translates into fewer accidents as well as less vandalism and auto theft.
• Optional equipment can affect rates – Purchasing a vehicle with a theft deterrent system can save you a little every year. Anti-theft features like tamper alarm systems, vehicle immobilizer technology and General Motors OnStar all aid in stopping your vehicle from being stolen.
• Drive less and save money – The more miles you rack up on your Pontiac every year the higher your rate. Almost all companies price each vehicle’s coverage based upon how you use the vehicle. Autos that are left in the garage qualify for better rates than those used for commuting. Verify your insurance policy properly reflects how each vehicle is driven. If your policy improperly rates your GTO may be wasting your money.

Parts of your car insurance policy

Understanding the coverages of your policy can be of help when determining the best coverages for your vehicles. Car insurance terms can be difficult to understand and nobody wants to actually read their policy. Shown next are the normal coverages available from car insurance companies.

Collision coverages – This coverage covers damage to your GTO caused by collision with an object or car. A deductible applies then the remaining damage will be paid by your insurance company.

Collision can pay for things such as driving through your garage door, sustaining damage from a pot hole, colliding with another moving vehicle and hitting a mailbox. This coverage can be expensive, so consider dropping it from vehicles that are older. It’s also possible to increase the deductible to bring the cost down.

Liability auto insurance – This will cover damage that occurs to people or other property that is your fault. This insurance protects YOU from legal claims by others. It does not cover damage sustained by your vehicle in an accident.

Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 100/300/100 which means $100,000 bodily injury coverage, a total of $300,000 of bodily injury coverage per accident, and a total limit of $100,000 for damage to vehicles and property. Another option is one number which is a combined single limit which provides one coverage limit without having the split limit caps.

Liability insurance covers things like loss of income, medical expenses, funeral expenses and bail bonds. How much coverage you buy is up to you, but it’s cheap coverage so purchase as much as you can afford.

Uninsured/Underinsured Motorist coverage – Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Pontiac GTO.

Because many people only carry the minimum required liability limits, their liability coverage can quickly be exhausted. For this reason, having high UM/UIM coverages is a good idea. Most of the time the UM/UIM limits do not exceed the liability coverage limits.

Comprehensive coverage – Comprehensive insurance pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things such as hitting a deer, falling objects, hitting a bird and hail damage. The most your car insurance company will pay is the market value of your vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Medical payments coverage and PIP – Medical payments and Personal Injury Protection insurance kick in for immediate expenses for pain medications, doctor visits and nursing services. The coverages can be used in conjunction with a health insurance program or if you are not covered by health insurance. Coverage applies to not only the driver but also the vehicle occupants and also covers any family member struck as a pedestrian. PIP coverage is not universally available but can be used in place of medical payments coverage

Keep this in mind

Throughout this article, we presented some good ideas how you can shop for 2005 Pontiac GTO insurance online. The key concept to understand is the more price quotes you have, the higher the chance of saving money. You may be surprised to find that the lowest rates come from a small local company. Smaller companies often have lower prices on specific markets compared to the large companies like Allstate or State Farm.

When trying to cut insurance costs, do not buy less coverage just to save a little money. In many instances, drivers have reduced liability limits or collision coverage and learned later that they should have had better coverage. Your focus should be to buy enough coverage for the lowest price.

Other information

• Uninsured Motorists: Threats on the Road (Insurance Information Institute)
• Speed and Speed Limit FAQ (iihs.org)
• Auto Theft Statistics (Insurance Information Institute)
• Prom Night Tips for Teen Drivers (State Farm)
• Vehicle Insurance (Wikipedia)
• Smart Auto Insurance Tips (Insurance Information Institute)