2020 Hyundai Elantra Insurance Rates in 2024 – 8 Tips for Cheapest Quotes

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: May 13, 2024

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Scraping up a payment for overpriced Hyundai Elantra insurance can drain your funds and put the squeeze on your family’s finances. Performing a price comparison can help to slash your bill and have more disposable income.

With people having so many choices, it is very difficult to pick the right insurer.

Finding more affordable auto insurance coverage can be fairly easy. Basically, anyone who buys auto insurance will be able to lower their premiums. Although consumers must comprehend the way insurance companies market insurance on the web and take advantage of how the system works.

How to compare free auto insurance price quotes

When shopping for auto insurance there are multiple ways of comparing rates from local auto insurance companies. The best way to find cheaper 2020 Hyundai Elantra rates consists of obtaining rate quotes online. This can be accomplished in just a few minutes using one of these methods.

  • Probably the best way consumers can analyze rates is an all-inclusive rate comparison. This easy form keeps you from doing repetitive form submissions for every company. One simple form gets coverage cost estimates direct from many companies.
  • Another way to analyze rates requires a trip to the website of each company and fill out a new quote form. For examples sake, let’s assume you need rates from Farmers, State Farm and Progressive. To get rate quotes you would need to navigate to each company’s site to input your insurance information, which is why most consumers use the first method.
  • The final way to price shop rates is calling or driving to local insurance agencies. The ability to buy insurance online eliminates this option unless you prefer the extra assistance of an agent trained in personal lines coverage. Although, it is possible find lower rates online but buy from a local insurance agent.

It’s up to you how you get prices quotes, just make sure you compare apples-to-apples coverages on every price quote you get. If your comparisons have unequal deductibles or liability limits it will be next to impossible to decipher which rate is best. Just a small difference in coverages could throw off the whole comparison. And when comparing auto insurance rates, know that comparing a large number of companies increases the change that you will find more affordable insurance. Not every company allows you to get online price quotes, so it’s important to compare prices on coverage from those companies, too.

The car insurance bait and switch

Car insurance companies such as GEICO, State Farm and Progressive continually stream ads on TV and radio. All the ads state the claim that people will save just by switching your car insurance policy to them. How is it plausible that every one can offer drivers better rates? It’s all in the numbers.

All companies quote their best rates for the right customer that makes them money. One example of a desirable risk may need to be over the age of 45, has never had a claim, and does not commute to work. A customer getting a price quote that meets those criteria will get a cheap rate quote and as a result will probably save money with a new company.

Potential insureds who fall short of those standards must pay higher rates which translates to the customer not buying. The trick is to say “customers that switch” not “all people who quote” save that much when switching. That’s why companies can truthfully claim big savings.

Each company has different criteria, so drivers must do a price quote comparison at every renewal. It is impossible to guess which car insurance company will have the lowest rate quotes.

Affordable auto insurance rates with discounts

Some insurance providers don’t always list all available discounts very well, so the next list breaks down both well-publicized and the harder-to-find auto insurance savings.

  • Club Memberships – Belonging to qualifying employment or professional organizations is a simple method to lower premiums on auto insurance.
  • Good Students Pay Less – A discount for being a good student can be rewarded with saving of up to 25%. Most companies allow this discount well after school through age 25.
  • Own a Home and Save – Just owning your own home may trigger a policy discount on auto insurance because owning a home shows financial diligence.
  • No Accidents – Good drivers with no accidents can save substantially as opposed to drivers with a long claim history.
  • Discounts for Federal Employees – Being employed by or retired from a federal job could provide a small rate reduction on Elantra coverage with select insurance companies.
  • Senior Citizens – If you qualify as a senior citizen, you may receive lower premium rates on Elantra coverage.
  • Accident Forgiveness – Not really a discount, but some insurance companies allow you one accident before your rates go up if you have no claims prior to being involved in the accident.
  • Discounts for Safe Drivers – Insureds who avoid accidents could pay up to 40% less on Elantra coverage than their less cautious counterparts.

Discounts reduce rates, but you should keep in mind that most discount credits are not given to all coverage premiums. The majority will only reduce individual premiums such as medical payments or collision. So when the math indicates you would end up receiving a 100% discount, company stockholders wouldn’t be very happy.

Some of the larger companies that may offer quotes with some of the discounts shown above include:

  • Progressive
  • Farmers Insurance
  • Farm Bureau
  • State Farm
  • Liberty Mutual

If you are trying to find the cheapest insurance quotes, ask all the companies how you can save money. Some of the discounts discussed earlier may not be available in your area. If you would like to see a list of companies with significant discounts, enter your zip code here.

Tailor your insurance coverage to you

When it comes to choosing adequate coverage for your vehicles, there is no single plan that fits everyone. Everyone’s situation is a little different and your policy should reflect that. These are some specific questions can help discover if your situation could use an agent’s help.

  • How much can I save by bundling my policies?
  • Am I covered if I hit a deer?
  • Is my nanny covered when driving my vehicle?
  • Am I covered if I crash into my own garage door?
  • What is the ISO rating for a 2020 Hyundai Elantra?
  • Why am I required to get a high-risk car insurance policy?
  • Are my friends covered when driving my 2020 Hyundai Elantra?
  • How do I buy GAP insurance?
  • Is rental equipment covered for theft or damage?
  • Is my camper covered by my car insurance policy?

If you don’t know the answers to these questions, then you may want to think about talking to a licensed insurance agent. To find an agent in your area, complete your zip code.

Learn about car insurance coverages for a Hyundai Elantra

Learning about specific coverages of car insurance aids in choosing the right coverages and proper limits and deductibles. The terms used in a policy can be confusing and nobody wants to actually read their policy. Listed below are typical coverages found on the average car insurance policy.

Comprehensive coverages

Comprehensive insurance will pay to fix damage that is not covered by collision coverage. You first must pay your deductible and then insurance will cover the rest of the damage.

Comprehensive can pay for claims such as hitting a deer, vandalism, damage from flooding and falling objects. The maximum payout 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.

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists do not carry enough liability coverage. It can pay for hospital bills for your injuries and also any damage incurred to your Hyundai Elantra.

Due to the fact that many drivers have only the minimum liability required by law, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important. Most of the time these limits do not exceed the liability coverage limits.

Liability insurance

This provides protection from damage that occurs to other people or property by causing an accident. Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. Your policy might show limits of 100/300/100 which means $100,000 in coverage for each person’s injuries, a total of $300,000 of bodily injury coverage per accident, and a limit of $100,000 paid for damaged property. Another option is a combined single limit or CSL which combines the three limits into one amount rather than limiting it on a per person basis.

Liability can pay for things such as repair costs for stationary objects, medical expenses and loss of income. How much coverage you buy is up to you, but you should buy as large an amount as possible.

Collision coverage protection

Collision coverage pays for damage to your Elantra caused by collision with a stationary object or other vehicle. You will need to pay your deductible then your collision coverage will kick in.

Collision coverage pays for things like hitting a parking meter, crashing into a ditch, crashing into a building and rolling your car. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. It’s also possible to choose a higher deductible to get cheaper collision coverage.

Coverage for medical payments

Med pay and PIP coverage kick in for expenses like prosthetic devices, EMT expenses, nursing services, doctor visits and rehabilitation expenses. They are used to fill the gap from your health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover both the driver and occupants and will also cover if you are hit as a while walking down the street. PIP coverage is not an option in every state but can be used in place of medical payments coverage

The bottom line

When getting insurance quotes online, don’t be tempted to buy poor coverage just to save money. There are a lot of situations where consumers will sacrifice liability coverage limits and discovered at claim time that the few dollars in savings costed them thousands. The aim is to get the best coverage possible at the lowest possible cost while still protecting your assets.

In this article, we presented quite a bit of information on how to get a better price on 2020 Hyundai Elantra insurance. The most important thing to understand is the more rate comparisons you have, the higher the chance of saving money. You may even find the most savings is with some of the smallest insurance companies. Some small companies may have significantly lower premium rates on certain market segments than their larger competitors like State Farm, GEICO and Nationwide.

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