How to Save on Hyundai Elantra Insurance in Cincinnati

Would you like to save money by finding more competitive Hyundai Elantra insurance in Cincinnati? Do you think you bought an under-performing, overpriced auto insurance policy? Believe me, there are many people just like you.

Anyone knows that insurance companies want to keep you from comparing prices. Drivers who compare price quotes will most likely switch to a new company because the odds are good of finding discount prices. A recent auto insurance study revealed that drivers who faithfully checked for cheaper rates saved over $850 each year compared to policyholders who don’t make a habit of comparing rates.

If finding discount rates on Hyundai Elantra insurance in Cincinnati is why you’re here, then having some insight into how to find and compare cheaper coverage can help make the process easier.

Steps to finding more affordable Hyundai Elantra insurance in Cincinnati

The best way we recommend to get discount auto insurance rates is to regularly compare prices from different companies that sell auto insurance in Cincinnati. Rate comparisons can be done by following these steps.

Step 1: It will benefit you to learn about how auto insurance works and the factors you can control to keep rates in check. Many factors that result in higher rates such as accidents, traffic tickets, and an unfavorable credit rating can be improved by making minor changes in your lifestyle.

Step 2: Compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can give quotes from one company like Progressive or Allstate, while agents who are independent can quote rates for a wide range of insurance providers.

Step 3: Compare the price quotes to the premium of your current policy and see if there is a cheaper rate in Cincinnati. If you find a better price and buy the policy, ensure coverage does not lapse between policies.

Step 4: Tell your current agent or company of your intention to cancel your current auto insurance policy. Submit the signed application along with the required initial payment for your new coverage. Make sure you store the certificate verifying proof of insurance in your glove compartment.

An important note is to compare the same amount of coverage on each quote request and and to compare as many car insurance companies as possible. Doing this provides the most accurate price comparison and a better comparison of the market.

Numerous insurance companies battle for your insurance dollar, so it’s not easy to compare every insurance company to get the best price available on Hyundai Elantra insurance in Cincinnati.

It’s smart to take a look at other company’s rates occasionally because insurance prices tend to go up over time. Despite the fact that you may have had the lowest rates on Hyundai Elantra insurance in Cincinnati two years ago the chances are good that you can find a lower premium rate today. Forget all the misinformation about auto insurance because you’re going to get a crash course in the fastest way to reduce your cost while increasing coverage.

If you are already insured, you will be able to get lower rates using these techniques. Buying the cheapest auto insurance in Cincinnati is really quite easy. But Ohio vehicle owners can benefit from knowing the way insurance companies market insurance on the web because rates fluctuate considerably.

Just remember that comparing a wide range of rates provides better odds of finding lower pricing. Some companies don’t provide online Cincinnati Elantra insurance quotes, so you also need to get rates from those companies as well.

The following companies are our best choices to provide comparison quotes in Cincinnati, OH. If your goal is to find cheap car insurance in Ohio, we suggest you get rates from several of them to get the best price comparison.

Coverage information

The data table displayed next highlights estimates of prices for Hyundai Elantra models. Having insight into how insurance quotes are calculated is important for you to make smart choices when comparing insurance quotes.

Data based on married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Premium costs do not factor in your specific Cincinnati location which can influence coverage prices greatly.

Should you raise deductibles?

One of the hardest decisions when shopping for auto insurance is how high or low should comp and collision deductibles be. The data tables below may help you to understand the rate differences when you choose different deductibles. The first data set uses a $250 deductible for comp and collision and the second pricing table uses a $1,000 deductible.

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, multi-policy, and safe-driver. Rate information does not factor in specific Cincinnati garaging location which can decrease or increase coverage rates greatly.

Using the data above, we can ascertain that using a $250 deductible costs an average of $17 more each month or $204 for a full year than opting for the higher $1,000 deductible. Because you would pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you go at a minimum 44 months between claims, you would save money by selecting a higher deductible.

One thing to be aware of is that raising deductibles to get cheaper rates results in a higher out-of-pocket expense when you do file a claim. That will require enough extra savings in the event you have to pay the higher deductible in order to repair your vehicle.

The chart below demonstrates how choosing different deductibles and can impact Hyundai Elantra insurance costs for each age group. The price estimates are based on a single male driver, comp and collision included, and no policy discounts are applied.

Yearly auto insurance costs for men versus women

The chart below shows the comparison of Hyundai Elantra premium costs for male and female drivers. The data assumes a clean driving record, no claims, full physical damage coverage, $250 deductibles, single marital status, and no policy discounts are applied.

How much more does full coverage cost?

The chart below visualizes the comparison of Hyundai Elantra insurance prices with and without full coverage. The premium estimates are based on no claims or driving citations, $100 deductibles, single status, and no discounts are factored in.

Are you wasting money paying for full coverage?

There is no written rule for phasing out comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost of comp and collision coverage is about 10% or more of the settlement you would receive from your company, then you may want to consider only buying liability coverage.

For example, let’s assume your Hyundai Elantra replacement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most your company will settle for is $6,000 after paying the physical damage deductible. If you are currently paying more than $600 annually to have full coverage, then it may be the right time to buy liability only.

There are some cases where removing full coverage is not recommended. If you still owe money on your vehicle, you have to carry full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not remove full coverage.

Informed Drivers Can Reduce Their Insurance Rates

One of the most helpful ways to save on auto insurance is to to have a grasp of the rating factors that help calculate the level of your policy premiums. When you know what positively or negatively influences your rates, this enables you to make decisions that can earn you better auto insurance rates. Many things are used when premium rates are determined. Some are obvious like a motor vehicle report, but some are not quite as obvious like your continuous coverage or your commute time.

• What type of car do you drive? – The performance of the vehicle you are buying insurance for makes a substantial difference in your rates. The lowest premiums are for low performance passenger vehicles, but other factors influence the final cost greatly.

  The following chart uses these assumptions: married female driver age 20, full coverage with $1000 deductibles, and no discounts or violations. The data compares Hyundai Elantra insurance premiums compared to other models of vehicles that have different risk factors.

• Vehicles with better crash test results save money – Cars with five star safety ratings cost less to insure. Vehicles engineered for safety result in less severe injuries and fewer injuries translates into savings for insurance companies and thus lower rates. If the Hyundai Elantra is rated at a minimum an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
• Only buy add-on coverages you need – There are a lot of additional extra coverages you can purchase on your auto insurance policy. Coverages for roadside assistance, towing coverage, and membership fees are some examples. These may sound like a good investment when deciding what coverages you need, but now you might not need them so get rid of them and save.
• Where you reside is a factor – Residing in areas with lower population is a good thing when talking about auto insurance. Drivers who live in large cities tend to have more traffic problems and more severe claims. Fewer drivers corresponds to lower accident rates as well as less vandalism and auto theft.
• Do you have a tough employer? – Careers like judges, executives, and accountants generally pay higher premiums than the average policyholder because of high stress and lots of time spent at work. Other occupations like actors, engineers and the unemployed pay the least.
• Liability protection – Your auto insurance policy’s liability coverage will provide protection in the event that you are determined to be liable for damages from an accident. Your liability coverage provides legal defense to defend your case. It is affordable coverage compared to other policy coverages, so drivers should carry high limits.
• Cheaper rates with high comp and collision deductibles – Comprehensive and collision coverage deductibles tell how much you are willing to pay in the event of a claim. Physical damage protection, also called ‘full coverage’, insures against damage to your car. A few examples of covered claims would be collision with another vehicle, hail damage, and damage caused by road hazards. The more expense the insured has to pay upfront, the less money you will pay for auto insurance.

• Loss probability for a Hyundai Elantra – Companies factor in insurance loss information as a way to help calculate a profitable premium rate. Vehicles that have high amounts or severity of claims will have higher premium rates. The table below outlines the historical loss data for Hyundai Elantra vehicles.

  For each coverage category, the loss probability for all vehicles, regardless of make or model, is considered to be 100. Numbers that are below 100 suggest a positive loss record, while numbers that are greater than 100 indicate frequent claims or statistically larger losses.

  
  

  Insurance Loss Ratings for Hyundai Elantra Vehicles

  Specific Hyundai Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Hyundai Elantra	102	102	90	133	137	117
  Hyundai Elantra GT	95	91	95	112	114	107

  BETTER

  AVERAGE

  WORSE

  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Protect more than your vehicle

Even though it’s not necessarily cheap to insure a Hyundai in Cincinnati, maintaining insurance serves several important purposes.

• Almost all states have mandatory liability insurance requirements which means you are required to buy a specific minimum amount of liability protection if you don’t want to risk a ticket. In Ohio these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If you took out a loan on your Elantra, most lenders will require that you buy full coverage to guarantee their interest in the vehicle. If you let the policy lapse, the bank may buy a policy for your Hyundai at an extremely high rate and require you to reimburse them the higher price.
• Insurance safeguards both your vehicle and your personal assets. Insurance will pay for most medical and hospital costs that are the result of an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you are sued as the result of an accident. If you have damage to your Hyundai as the result of the weather or an accident, comprehensive (other-than-collision) and collision coverage will pay all costs to repair after the deductible has been paid.

The benefits of having car insurance more than cancel out the cost, particularly if you ever have a claim. According to a survey of 1,000 drivers, the average driver is currently overpaying as much as $825 a year so compare quotes from several companies once a year at a minimum to save money.

How to find a good Cincinnati auto insurance company

Picking a high-quality insurance company can be a challenge considering how many companies there are to choose from in Cincinnati. The ranking data shown below could help you select which providers you want to consider purchasing a policy from.

Top 10 Cincinnati Car Insurance Companies Overall

1. USAA
2. 21st Century
3. GEICO
4. Nationwide
5. AAA Insurance
6. Liberty Mutual
7. Safeco Insurance
8. State Farm
9. Travelers
10. American Family

Top 10 Cincinnati Car Insurance Companies by A.M. Best Rank

1. USAA – A++
2. GEICO – A++
3. Travelers – A++
4. State Farm – A++
5. Allstate – A+
6. Progressive – A+
7. Erie Insurance – A+
8. The Hartford – A+
9. Nationwide – A+
10. Esurance – A+