Want to learn how to save money and find cheaper Hyundai Elantra insurance in Durham? Searching for cheaper insurance for a Hyundai Elantra in North Carolina can turn out to be an all-consuming task, but you can use our auto insurance buying tips to find lower rates. There is a better way to compare auto insurance rates so we’re going to tell you the proper way to quote coverages for your Hyundai and get the cheapest rates from Durham insurance agents and online providers.
Consumers need to shop coverage around periodically because insurance prices tend to go up over time. Even if you think you had the best rate on Hyundai Elantra insurance in Durham a couple years back a different company probably has better premium rates today. There is lot of inaccurate information about Elantra insurance on the web, but in a few minutes you can learn some great ways to buy auto insurance cheaper in Durham.
Finding cheap Hyundai Elantra car insurance rates is not rocket science. Consumers just need to invest a little time to get quotes to discover which company has cheaper Durham auto insurance quotes.
The companies shown below can provide quotes in Durham, NC. To buy the cheapest car insurance in North Carolina, it’s a good idea that you get rate quotes from several of them to find the most competitive auto insurance rates.
Hyundai Elantra insurance statistics and information
The coverage table displayed below highlights detailed analysis of insurance premium costs for Hyundai Elantra models. Learning more about how auto insurance prices are established can assist in making decisions on which insurance to purchase.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Elantra GLS Touring Station Wagon | $118 | $222 | $240 | $14 | $72 | $666 | $56 |
| Elantra Blue 4-Dr Sedan | $118 | $318 | $282 | $16 | $84 | $818 | $68 |
| Elantra GLS 4-Dr Sedan | $134 | $318 | $282 | $16 | $84 | $834 | $70 |
| Elantra SE 4-Dr Sedan | $134 | $318 | $282 | $16 | $84 | $834 | $70 |
| Elantra SE Touring Station Wagon | $134 | $270 | $240 | $14 | $72 | $730 | $61 |
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Data rating is based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, safe-driver, multi-vehicle, claim-free, and multi-policy. Prices do not factor in specific location information which can modify premium rates noticeably.
The illustration below illustrates how choosing a deductible and can impact Hyundai Elantra insurance costs for each age group. The price estimates are based on a single female driver, full physical damage coverage, and no additional discounts are factored in.
Rate difference between full and liability-only coverage
The chart below shows the difference between Hyundai Elantra yearly insurance costs when comparing full coverage to liability only. Data assumes no driving violations, no at-fault accidents, $250 deductibles, marital status is single, and no discounts are applied.
When to drop comp and collision
There is no exact rule for phasing out full coverage, but there is a general guideline. If the annual cost of your full coverage insurance is more than about 10% of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s pretend your Hyundai Elantra replacement cost is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, the most you would receive is $6,000 after the policy deductible has been paid. If you are paying in excess of $600 a year for full coverage, then you might want to consider buying only liability coverage.
There are some cases where dropping full coverage is not a good plan. If you haven’t paid off your loan, you have to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should not consider dropping full coverage.
Insurance protects more than just your car
Despite the fact that insurance is not cheap in Durham, insurance is mandatory in North Carolina but it also protects more than you think.
- Almost all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a minimum amount of liability if you want to drive legally. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you bought your Hyundai Elantra with a loan, it’s guaranteed your bank will require that you buy insurance to guarantee loan repayment. If you let the policy lapse, the lender will be forced to insure your Hyundai for a lot more money and require you to pay the higher premium.
- Insurance safeguards both your Hyundai and your personal assets. It will also reimburse you for hospital and medical expenses incurred in an accident. One policy coverage, liability insurance, will also pay attorney fees if anyone sues you for causing an accident. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of buying enough insurance are without a doubt worth the cost, particularly for liability claims. An average driver in America is overpaying more than $800 each year so compare rates each time the policy renews to save money.
Smart Buyers Know How to Quote Car Insurance Cheaper
Consumers need to have an understanding of the rating factors that go into determining the level of your policy premiums. When you know what positively or negatively influences your rates, this helps enable you to make changes that can earn you big savings.
The following are most of the major factors used by insurance companies to determine your rates.
Know your credit history – An insured’s credit rating is likely to be a major factor in determining premium rates. Therefore, if your credit rating is lower than you’d like, you may save money insuring your Hyundai Elantra by repairing your credit. Consumers who have good credit tend to be better drivers and file fewer claims as compared to drivers with lower credit ratings.
Small claims can cost you – If you are a frequent claim filer, you can look forward to either policy cancellation or increased premiums. Auto insurance companies in North Carolina give the best rates to policyholders who file claims infrequently. Auto insurance is meant to be used in the event of claims that you cannot pay yourself.
Traffic violations can be expensive – Having just one ticket can increase rates forty percent or more. Good drivers get better rates than people who have multiple driving citations. Drivers who have severe violations like reckless driving or DUI are required to submit a SR-22 form with their state motor vehicle department in order to prevent a license revocation.
The illustration below shows how speeding tickets and accidents can impact Hyundai Elantra insurance costs for each age group. The price estimates are based on a single male driver, comp and collision included, $500 deductibles, and no discounts are taken into consideration.
Insurance rates and vehicle performance – The performance of the vehicle you need to insure makes a big difference in your rates. Lower performance four cylinder passenger vehicles usually are quite affordable to insure, but your final cost has many other factors.
The following chart assumes a married male driver age 40, full coverage with $100 deductibles, and no discounts or violations. It shows Hyundai Elantra car insurance rates compared to other makes and models that have a range of risk factors.
Gender and insurance rates – Over the last 30 years, statistics show that women are safer drivers than men. However, don’t assume that males are worse at driving than females. Both sexes have auto accidents in similar percentages, but men cause more damage and cost insurance companies more money. Men also statistically receive more costly citations like DWI (DUI) or reckless driving.
The information below shows the difference between Hyundai Elantra auto insurance rates for male and female drivers. The rates are based on no claims or driving violations, full physical damage coverage, $250 deductibles, marital status is single, and no discounts are applied to the premium.
Insurance loss probability for a Hyundai Elantra – Companies analyze historical claim data to calculate a price that will offset losses. Models that the data shows to have increased claim numbers or amounts will cost more to insure.
The table below shows the collected loss data for Hyundai Elantra vehicles. For each coverage type, the statistical loss for all vehicles compiled together equals 100. Percentage values below 100 indicate better than average losses, while percentage numbers above 100 indicate higher probability of having a loss or a tendency for claims to be larger.
| Make and 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 |
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
What insurance coverages do I need?
When choosing the right insurance coverage, there really is not a one size fits all plan. Everyone’s needs are different and your policy should reflect that.
These are some specific questions can aid in determining if your insurance needs would benefit from professional advice.
- How can I find cheaper teen driver insurance?
- How much coverage applies to personal belongings?
- Do I really need UM/UIM coverage?
- I don’t drive much so do I pay less?
- Does my policy pay for OEM or aftermarket parts?
- When should I remove comp and collision on my Hyundai Elantra?
If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to a licensed insurance agent. To find lower rates from a local agent, simply complete this short form or you can go here for a list of companies in your area. It’s fast, doesn’t cost anything and can provide invaluable advice.
North Carolina car insurance company ratings
Finding a good quality car insurance provider can be difficult considering how many companies there are in North Carolina. The company ratings listed below may help you choose which car insurance providers to look at when shopping around.
Top 10 Durham Car Insurance Companies Overall
- Travelers
- USAA
- AAA Insurance
- Nationwide
- Allstate
- State Farm
- The Hartford
- Safeco Insurance
- Progressive
- American Family
Top 10 Durham Car Insurance Companies Ranked by Customer Service
- USAA
- Travelers
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
- Esurance
Get the best coverage at the most affordable price
As you go through the steps to switch your coverage, don’t be tempted to sacrifice coverage to reduce premiums. There are many occasions where an insured dropped uninsured motorist or liability limits only to regret at claim time that a couple dollars of savings turned into a financial nightmare. Your goal is to buy the best coverage you can find at the best cost while still protecting your assets.
Cheap Hyundai Elantra insurance in Durham is possible both online in addition to many Durham insurance agents, and you need to price shop both to get a complete price analysis. A few companies do not provide online rate quotes and usually these small, regional companies sell through local independent agents.
We covered a lot of tips how to compare Hyundai Elantra insurance premium rates in Durham. The key concept to understand is the more providers you compare, the higher the chance of saving money. You may even discover the biggest savings come from the least-expected company. They may have significantly lower prices on certain market segments compared to the large companies like Allstate, GEICO and Progressive.
Steps to buying low-cost Hyundai Elantra insurance in Durham
The recommended way to get more affordable Hyundai Elantra insurance is to start comparing prices regularly from different companies who provide auto insurance in Durham. Rate comparisons can be done by completing these steps.
- First, try to learn about coverages and the things you can change to prevent rate increases. Many things that drive up the price like tickets, at-fault accidents, and an unacceptable credit score can be eliminated by improving your driving habits or financial responsibility.
- Second, compare rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only provide price estimates from a single company like Progressive or State Farm, while independent agencies can quote rates from multiple insurance companies.
- Third, compare the quotes to your current policy premium to see if cheaper Elantra coverage is available. If you can save money, ensure there is no coverage lapse between policies.
- Fourth, give proper notification to your current agent or company of your decision to cancel your current policy. Submit a down payment and signed policy application to your new agent or company. Be sure to safely store the certificate verifying proof of insurance with the vehicle registration.
One piece of advice is to try to use identical coverage information on every quote and and to get prices from as many carriers as you can. Doing this helps ensure an accurate price comparison and a thorough price selection.
More detailed car insurance information can be read by following these links:
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- What Car Insurance is Cheapest for Drivers Requiring a SR22 in Durham? (FAQ)
- Who Has Affordable Car Insurance for 16 Year Olds in Durham? (FAQ)
- Who Has Affordable Durham Car Insurance Quotes for a Subaru Impreza? (FAQ)
- What Auto Insurance is Cheapest for State Employees in Durham? (FAQ)
- Who Has Cheap Auto Insurance Quotes for a Subaru Outback in Durham? (FAQ)
- Who Has the Cheapest Car Insurance for Lyft Drivers in Durham? (FAQ)
- Who Has Cheap Durham Auto Insurance Quotes for Drivers Over Age 50? (FAQ)
- What is Full Coverage? (Allstate)
- Protect Yourself Against Auto Theft (Insurance Information Institute)
- What is a Telematics Device? (Allstate)
- Determining Auto Insurance Rates (GEICO)