Are you trying to find low-cost car insurance rates in Cincinnati, OH? Cincinnati buyers have lots of choices when searching for low-cost Hyundai Santa Fe insurance. You can either spend your time contacting agents to compare prices or save time using the internet to get rate quotes. There are both good and bad ways to find car insurance online so we’re going to tell you the quickest way to price shop coverage for a Hyundai and locate the lowest possible price either online or from Cincinnati insurance agents.
If you are insured now or need a new policy, use these money-saving tips to find better prices without having to cut coverage. This information will tell you the most effective ways to compare rates. Shoppers only need an understanding of the quickest method to find the lowest price from many companies at once.
All major insurance companies such as Allstate, GEICO and Progressive make it easy to get pricing from their websites. The process is possible for anyone because you just enter your required coverages on the page. Once you submit the form, the company’s rating system collects information on your driving record and credit history and gives you a price quote based on many factors.
Being able to quote online for Hyundai Santa Fe insurance in Cincinnati helps simplify price comparisons, and it is important to have as many quotes as possible if you are searching for lower-cost insurance pricing.
To quickly find out how much you’re overpaying now, take a look at the companies shown below. If you have your current policy handy, we recommend you type in the coverage information exactly as they are listed on your policy. This way, you will receive a rate comparison based on the exact same insurance coverage.
The auto insurance companies shown below have been selected to offer price comparisons in Cincinnati, OH. If multiple companies are listed, it’s a good idea that you visit two to three different companies to find the most competitive auto insurance rates.
Analysis of Hyundai Santa Fe rates
The information shown next outlines estimates of insurance coverage prices for Hyundai Santa Fe models. Learning as much as possible about how insurance prices are figured can benefit drivers when making smart buying decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Santa Fe GLS 2WD||$170||$352||$226||$14||$68||$830||$69|
|Santa Fe GLS 4WD||$196||$352||$226||$14||$68||$856||$71|
|Santa Fe SE 2WD||$196||$352||$226||$14||$68||$856||$71|
|Santa Fe Limited 2WD||$196||$416||$226||$14||$68||$920||$77|
|Santa Fe SE 4WD||$196||$416||$226||$14||$68||$920||$77|
|Santa Fe Limited 4WD||$220||$416||$226||$14||$68||$944||$79|
|Get Your Own Custom Quote Go|
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Ohio minimum liability limits. Discounts applied include claim-free, homeowner, safe-driver, multi-vehicle, and multi-policy. Rate information does not factor in your specific Cincinnati location which can increase or decrease price quotes considerably.
The diagram below shows how choosing a deductible and can impact Hyundai Santa Fe annual premium costs for each different age category. Data assumes a single male driver, full coverage, and no policy discounts are applied.
Difference between full coverage and liability only rates
The example below shows the comparison of Hyundai Santa Fe insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Ohio. The costs are based on no tickets, no at-fault accidents, $100 deductibles, drivers are single, and no discounts are applied.
When to buy liability coverage only
There is no exact formula for eliminating full coverage on your policy, but there is a guideline you can consider. If the yearly cost of full coverage is 10% or more of any settlement you would receive from your insurance company, then it’s probably a good time to buy liability coverage only.
For example, let’s pretend your Hyundai Santa Fe settlement value is $4,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would get paid by your company is $3,000 after the policy deductible has been paid. If it’s costing you more than $300 annually for physical damage coverage, then it might be time to consider dropping full coverage.
There are some cases where dropping physical damage coverage is not financially feasible. If you have an outstanding loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if your savings is not enough to buy a different vehicle if your current one is in an accident, you should not consider dropping full coverage.
What Determines Hyundai Santa Fe Insurance Rates?
It’s important that you understand the factors that go into determining the rates you pay for auto insurance. When you know what positively or negatively determines premiums, this enables you to make decisions that can earn you big savings. Many things are used in the calculation when pricing auto insurance. Some are pretty understandable like an MVR report, but others are more obscure such as your marital status or how safe your car is.
The factors shown below are most of the major factors auto insurance companies consider when setting your rate level.
- Getting married can save on auto insurance – Having a significant other can actually save you money on your auto insurance bill. Having a significant other demonstrates that you tend to be less irresponsible and it’s proven that being married results in fewer claims.
Avoid traffic tickets – Having just one moving violation may increase your cost substantially. Drivers with clean records tend to pay less for car insurance as compared to careless drivers. Drivers who have flagrant tickets like hit and run, DWI or reckless driving convictions may find that they have to to complete a SR-22 with the DMV in their state in order to prevent a license revocation.
The illustration below demonstrates how speeding tickets and at-fault fender-benders can increase Hyundai Santa Fe insurance costs for different insured age categories. The price estimates are based on a single female driver, comp and collision included, $500 deductibles, and no discounts are applied.
- Your liability insurance limits – A critical coverage on your policy, liability insurance kicks in if you are determined to be liable for damages from an accident. Liability provides you with a defense in court which can be incredibly expensive. This coverage is relatively inexpensive compared to comp and collision, so drivers should carry high limits.
Gender impacts rates – Over the last 50 years, statistics have shown that women are safer drivers than men. That doesn’t necessarily mean that females are better at driving than males. Both sexes tend to get into fender benders in similar percentages, but the male of the species have accidents that have higher claims. In addition to higher claims, males also get higher numbers of serious violations like reckless driving and DUI. Teenage male drivers tend to get in the most accidents and thus pay the highest rates.
The illustration below shows the difference between Hyundai Santa Fe insurance costs for male and female drivers. The prices are based on no violations or accidents, comprehensive and collision coverage, $100 deductibles, single status, and no additional discounts are factored in.
- Adjust coverage deductibles and save – Physical damage insurance, also called ‘full coverage’, protects your Hyundai from damage. Some examples of covered claims are colliding with a building, vandalism, and burglary. Deductibles for physical damage define the amount you are required to pay if you file a covered claim. The more money you pay before a claim is paid (deductible), the bigger discount you will receive.
- Rates may be lower depending on your occupation – Did you know your job can affect your rates? Jobs like military generals, executives, and stock brokers generally have higher premiums than the average policyholder in part from intense work situations and lengthy work days. Other occupations such as professors, athletes and homemakers receive lower rates.
Hyundai Santa Fe insurance loss statistics – Insurance companies take into consideration historical loss data for every vehicle when they set coverage costs for each model. Vehicles that the statistics show to have a trend towards higher claims will have a higher premium rate.
The table below shows the historical insurance loss data for Hyundai Santa Fe vehicles. For each insurance policy coverage type, the statistical loss for all vehicles, as a total average, is represented as 100. Values that are under 100 represent a good loss history, while percentage numbers above 100 indicate frequent claims or statistically larger claims.
Insurance Loss Ratings for Hyundai Santa Fe Vehicles Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Hyundai Santa Fe 4dr 2WD 91 94 82 86 92 91 Hyundai Santa Fe 4dr 4WD 109 115 97 96 84 94 Hyundai Santa Fe Sport 4dr 2WD 88 90 93 90 89 93 Hyundai Santa Fe Sport 4dr 4WD 95 91 110 90 96 84BETTERAVERAGEWORSE
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Why do I need car insurance?
Even though it’s not necessarily cheap to insure a Hyundai in Cincinnati, paying for car insurance serves an important purpose.
- Almost all states have compulsory liability insurance requirements which means state laws require specific minimum amounts of liability coverage 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 Hyundai Santa Fe, more than likely the lender will have a requirement that you have comprehensive coverage to guarantee loan repayment. If coverage lapses or is canceled, the lender may have to buy a policy to insure your Hyundai at a much higher rate and make you pay for the much more expensive policy.
- Insurance safeguards not only your Hyundai Santa Fe but also your financial assets. It will also reimburse you for medical bills incurred in an accident. Liability insurance also covers all legal expenses up to the policy limit if someone files suit against you as the result of an accident. If your Hyundai gets damaged, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of having car insurance definitely exceed the cost, particularly when you have a large claim. An average driver in America is wasting up to $700 annually so it’s important to compare rates at least once a year to be sure current rates are still competitive.