Truthfully, the best way to get cheaper Hyundai Accent insurance in Cincinnati is to start comparing prices regularly from companies in Ohio. You can compare rates by following these guidelines.
- Take a few minutes and learn about the coverage provided by your policy and the changes you can make to keep rates in check. Many risk factors that cause high rates like speeding and a bad credit rating can be eliminated by improving your driving habits or financial responsibility.
- Compare prices from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from a single company like GEICO or Farmers Insurance, while agents who are independent can quote prices for a wide range of insurance providers.
- Compare the price quotes to your existing rates to see if a cheaper price is available in Cincinnati. If you find a lower rate quote, make sure the effective date of the new policy is the same as the expiration date of the old one.
The most important part of this process is to try to use identical coverages on every quote and to quote with as many different companies as possible. This ensures a fair price comparison and a good representation of prices.
It’s amazing but a large majority of car insurance policyholders have purchased from the same company for a minimum of four years, and just under half have never compared quotes from other companies. Cincinnati drivers could save up to 55% each year, but they think it’s difficult to shop their coverage around.
If you have insurance now or are looking for a new policy, use these cost-cutting techniques to save money while maximizing coverage. Buying affordable car insurance in Cincinnati can be made easier if you know where to look. Shoppers just need to know the most time-saving way to compare company rates from multiple carriers.
Components of Your Hyundai Accent Insurance Rates
Many factors are used in the calculation when quoting car insurance. A few of the factors are predictable such as your driving record, although others are less obvious such as whether you are married or how financially stable you are.
Shown below are most of the major factors insurance companies consider when setting your prices.
Save money with higher coverage deductibles – The deductibles state the amount of money the insured will be required to pay if a claim is determined to be covered. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Some coverage claims are a windshield broken by a bird, damage caused by hail, and damage caused by road hazards. The more money you have to pay, the less your insurance will be.
The type of car you drive affects your prices – The performance level of the car you need insurance for makes a substantial difference in your rates. The lowest performance passenger models usually are quite affordable to insure, but that’s not the only thing that factors into the final price.
The following data uses these assumptions: single male driver age 50, full coverage with $1000 deductibles, and no discounts or violations. It illustrates Hyundai Accent car insurance rates compared to other models that have different performance risks.
Your job is a factor – Did you know your insurance rates can be affected by your occupation? Jobs like doctors, airline pilots, and financial analysts usually pay higher average rates because of intense work requirements and incredibly demanding work hours. On the flip side, careers such as scientists, athletes and retirees get better rates.
Lower rates come with age – Older insureds are shown to be more cautious, tend to cause fewer accidents, and are safer drivers. Inexperience drivers are known to be inattentive when at the wheel of a vehicle so they pay higher insurance rates.
The following chart uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.
Excellent credit saves on insurance – Having a bad credit score can be a huge factor in determining what you pay. If your credit history is lower than you’d like, you could be paying less to insure your Hyundai Accent if you improve your credit rating. People with very good credit scores tend to be less risk to insure as compared to drivers with poor credit scores.
Hyundai Accent claim data – Insurers factor in historical loss data to help determine rates. Models that the statistics show to have increased losses will have increased rates. The information below illustrates the historical loss data for Hyundai Accent vehicles.
For each insurance policy coverage type, the claim 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 values that are 100 or greater indicate higher probability of having a loss or an increased probability of a larger loss.
|Specific Hyundai Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
The coverage information below showcases different prices for Hyundai Accent models. Being aware of how policy premiums are figured can assist in making decisions when choosing a new policy provider.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Accent Blue 2-Dr Hatchback||$144||$298||$260||$16||$78||$796||$66|
|Accent GS 2-Dr Hatchback||$170||$364||$260||$16||$78||$888||$74|
|Accent GLS 4-Dr Sedan||$170||$428||$346||$20||$104||$1,068||$89|
|Accent SE 2-Dr Hatchback||$194||$494||$260||$16||$78||$1,042||$87|
|Get Your Own Custom Quote Go|
Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Ohio minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Information does not factor in specific garaging location which can influence rates considerably.
The information below highlights how deductible choice and can change Hyundai Accent insurance costs for different age groups of insureds. The premiums are based on a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
How accidents and violations affect rates
The information below shows how traffic citations and at-fault accidents can raise Hyundai Accent insurance premiums for different categories of driver ages. The premiums are based on a single female driver, comp and collision included, $100 deductibles, and no policy discounts are applied.
Yearly auto insurance costs for men versus women
The example below illustrates the comparison of Hyundai Accent auto insurance rates for male and female drivers. The costs are based on no violations or accidents, comprehensive and collision coverage, $1,000 deductibles, single status, and no discounts are applied to the premium.
Hyundai Accent liability rates compared to full coverage
The illustration below visualizes the comparison of Hyundai Accent annual premium costs with liability coverage only compared to full coverage. The rates are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are single, and no other discounts are factored in.
When to eliminate full coverage
There is no definitive formula of when to phase out full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than around 10% of the vehicle’s replacement cost less your deductible, the it may be a good time to stop paying for full coverage.
For example, let’s pretend your Hyundai Accent book value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $8,000 after paying the physical damage deductible. If premium cost is more than $800 a year for full coverage, then it may be the right time to buy liability only.
There are some scenarios where dropping full coverage is not advised. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage in place.
Get cheap rates on Hyundai Accent insurance in Cincinnati with these auto insurance discounts
Some insurers don’t necessarily list all discounts very clearly, so we break down some of the best known as well as the least known discounts that you may qualify for.
- Smart Student Discounts – This discount can be rewarded with saving of up to 25%. Earning this discount can benefit you up until you turn 25.
- Employee of Federal Government – Being employed by or retired from a federal job could provide a small rate reduction but check with your company.
- Seat Belts Save – Drivers who require all occupants to use a seat belt can save up to 15% off the PIP or medical payment premium.
- Defensive Driver Discounts – Successfully completing a course teaching defensive driver skills could possibly earn you a 5% discount if your company offers it.
- New Car Discount – Insuring a vehicle that is new can cost up to 25% less since newer models have better safety ratings.
- Drive Less and Save – Keeping the miles down on your Hyundai may enable drivers to earn substantially lower rates.
As is typical with insurance, most discounts do not apply to your bottom line cost. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So even though they make it sound like all the discounts add up to a free policy, insurance companies wouldn’t stay in business. But any discount should help reduce the premium cost.
The diagram below shows the comparison of Hyundai Accent insurance costs with and without discounts being applied to the rates. The premiums are based on a female driver, no tickets, no at-fault accidents, Ohio state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, safe-driver, homeowner, multi-policy, and claim-free discounts applied.
If you would like to see a list of providers that have a full spectrum of discounts in Ohio, click here.
When you buy Cincinnati car insurance online, make sure you don’t buy less coverage just to save a little money. There are too many instances where consumers will sacrifice uninsured motorist or liability limits only to regret they didn’t purchase enough coverage. Your strategy should be to buy the best coverage you can find at the best possible price while not skimping on critical coverages.
Throughout this article, we presented many tips how you can save on Hyundai Accent insurance in Cincinnati. The key thing to remember is the more rate comparisons you have, the higher your chance of finding affordable Hyundai Accent insurance quotes. You may even discover the best price on auto insurance is with a small mutual company. They can often insure niche markets at a lower cost compared to the large companies like GEICO and State Farm.
For more information, take a look at the resources below:
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
- Who Has the Cheapest Cincinnati Car Insurance Rates for High Mileage Drivers? (FAQ)
- What Car Insurance is Cheapest for Drivers with Good Credit in Cincinnati? (FAQ)
- How Much are Cincinnati Car Insurance Quotes for a Toyota RAV4? (FAQ)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Smart Auto Insurance Tips (Insurance Information Institute)