How to Compare Lexington Hyundai Elantra Insurance

If your goal is the lowest price, then the best way to find low-cost car insurance rates is to compare prices at least once a year from providers who sell insurance in Lexington.

• Step 1: Read about how auto insurance works and the measures you can control to prevent rate increases. Many risk factors that cause high rates like distracted driving and a not-so-good credit history can be rectified by making minor changes to your lifestyle.
• Step 2: Request rate estimates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can give quotes from a single company like Progressive or Allstate, while agents who are independent can provide rate quotes for a wide range of companies.
• Step 3: Compare the new quotes to your existing policy and see if you can save money. If you find a better price and switch companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
• Step 4: Provide proper notification to your current company to cancel your current auto insurance policy. Submit a down payment along with a signed application to your new insurance company. Don’t forget to store the certificate verifying coverage in a readily accessible location in your vehicle.

The most important part of this process is to use the same amount of coverage on each quote and and to analyze every insurance company. This guarantees a level playing field and many rates to choose from.

It’s astonishing, but the vast majority of consumers kept buying from the same company for over three years, and approximately 40% of consumers have never even shopped around for affordable coverage. The average driver in Lexington could pocket 30% a year just by comparing rates, but they just feel it’s too hard to compare rates and save money.

These discounts can lower your car insurance rates

Car insurance companies don’t always publicize every discount in a way that’s easy to find, so the list below contains some of the best known as well as the least known ways to save on car insurance.

• Senior Citizens – If you’re over the age of 55, you may be able to get better car insurance rates.
• Multiple Vehicles – Drivers who insure more than one vehicle with the same company could earn a price break for each car.
• Driver Training Discounts – Taking a safe driver class could possibly earn you a 5% discount and easily recoup the cost of the course.
• Discounts for Safe Drivers – Drivers who avoid accidents can pay as much as 50% less than their less cautious counterparts.
• Safety Restraint Discount – Forcing all vehicle occupants to fasten their seat belts can save up to 15% off PIP or medical payments premium.
• Auto/Home Discount – When you combine your home and auto insurance with one company they may give you a discount of approximately 10% to 15%.
• Distant Student Discount – Kids who attend college more than 100 miles from Lexington and don’t have a car could get you a discount.
• Good Students Pay Less – Getting good grades can get you a discount of up to 25%. This discount can apply up until you turn 25.
• Telematics Data – Drivers that enable their car insurance company to study driving manner by installing a telematics device such as In-Drive from State Farm or Allstate’s Drivewise system might get better premium rates if they are good drivers.
• Auto/Life Discount – If the company offers life insurance, you could get lower rates if you buy some life insurance in addition to your auto policy.

It’s important to note that most discounts do not apply to the overall cost of the policy. The majority will only reduce individual premiums such as medical payments or collision. So even though you would think having all the discounts means you get insurance for free, insurance companies wouldn’t stay in business. But any discount should help lower the premium cost.

The information below compares Hyundai Elantra yearly insurance costs with and without discounts applied to the rates. Data assumes a male driver, no claims, a clean driving record, Kentucky state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, marriage, claim-free, homeowner, and multi-car discounts applied.

A list of companies and their offered discounts are included below.

• State Farm discounts include anti-theft, student away at school, multiple policy, good student, and Steer Clear safe driver discount.
• Nationwide offers discounts including business or organization, good student, accident-free, multi-policy, and family plan.
• GEICO may include discounts for membership and employees, anti-theft, five-year accident-free, emergency military deployment, air bags, seat belt use, and military active duty.
• AAA policyholders can earn discounts including multi-car, multi-policy, anti-theft, pay-in-full, AAA membership discount, education and occupation, and good student.
• 21st Century includes discounts for driver training, teen driver, early bird, automatic seat belts, and student driver.
• The Hartford has savings for good student, driver training, anti-theft, air bag, vehicle fuel type, and bundle.

If you are trying to find affordable Hyundai Elantra insurance quotes, ask each insurance company how many discounts you can get. Some discounts listed above might not be available to policyholders in Lexington. If you would like to see a list of companies that offer many of these discounts in Kentucky, click here.

Keep in mind that quoting more helps increase your odds of locating more affordable rates. Some smaller insurers do not give rate quotes online, so you need to compare quotes from them, too.

The companies shown below are our best choices to provide comparison quotes in Kentucky. If you want the cheapest auto insurance in KY, it’s a good idea that you visit as many as you can to get the best price comparison.

Rates and data analysis

The data table displayed next highlights different insurance costs for Hyundai Elantra models. Having a better idea how insurance prices are figured helps drivers make decisions on which coverage to buy.

Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Kentucky minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-policy, and multi-vehicle. Information does not factor in specific location which can revise auto insurance rates noticeably.

How high should deductibles be?

When comparing car insurance rates, the most common question is how high should the deductibles for physical damage be. The rates shown below show the rate difference of buying low and high coverage deductibles. The first rate table uses a $250 physical damage coverage deductible and the second set of prices uses a $500 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Kentucky minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-vehicle, and multi-policy. Information does not factor in specific garaging location which can affect coverage rates considerably.

Using the premium rates above, we can conclude that using a $250 deductible will cost you approximately $13 more each month or $156 annually than choosing the higher $500 deductible. Due to the fact that you would have to pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to have at least 19 months between claim filings, you would come out ahead if you decide on a higher deductible. Here is the way you can come to your own conclusion.

One important caveat is that increasing deductibles to save money means you pay more out-of-pocket when you do file a claim. That will force you to have a higher level of savings in order to pay the deductible.

Premiums by gender and age

The example below illustrates the comparison of Hyundai Elantra auto insurance costs for male and female drivers. The price estimates are based on no claims, a clean driving record, full coverage, $1,000 deductibles, drivers are not married, and no discounts are factored in.

Should you buy full coverage?

The information below shows the comparison of Hyundai Elantra car insurance costs with full physical damage coverage and with liability coverage only. The rate quotes are based on no accidents or driving violations, $1,000 deductibles, single marital status, and no discounts are applied to the premium.

Should you buy full coverage or liability only?

There isn’t a steadfast formula of when to phase out comp and collision coverage, but there is a guideline you can consider. If the annual cost of coverage is about 10% or more of the settlement you would receive from your company, then you might want to think about dropping full coverage.

For example, let’s assume your Hyundai Elantra replacement cost is $8,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $7,000 after you pay the deductible. If you are paying in excess of $700 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are some cases where removing full coverage is not in your best interest. If you haven’t satisfied your loan, you have to maintain full coverage to satisfy the loan requirements. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not buy liability only.

Informed Drivers Know How to Find Car Insurance for Less

Consumers need to have an understanding of some of the factors that go into determining your premiums. If you have some idea of what influences your rates, this enables informed choices that may reward you with big savings.

The itemized list below are a few of the things used by companies to determine premiums.

• Vocation stress can make you pay more – Did you know that where you work can have an impact on rates? Jobs like military generals, airline pilots, and medical professionals are shown to have higher premiums than the average policyholder because of intense work-related stress and lots of time spent at work. Other occupations such as actors, engineers and homemakers have lower than average premiums.
• Always keep your coverage in force – Driving your car without having proper coverage is illegal and you may have a hard time finding new coverage because you let your insurance lapse. And not only will your rates increase, failure to provide proof of insurance could result in a revoked license or a big fine. Then you may be required to file a SR-22 with the Kentucky motor vehicle department to get your license reinstated.

• How your age affects premiums – Beginning drivers in Kentucky are statistically shown to get distracted easily when at the wheel of a vehicle therefore car insurance rates are much higher. Mature drivers are more cautious drivers, tend to cause fewer accidents, and usually have better credit.

  The next chart uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.

• Traffic violations increase prices – Whether or not you get tickets has a big impact on rates. Having just one chargeable violation can increase the cost of insurance substantially. Good drivers receive lower rates as compared to those with violations. People who have multiple citations such as hit and run, DWI or reckless driving convictions may find that they have to to prove financial responsibility to the state department of motor vehicles in order to prevent a license revocation.

  The illustration below shows how speeding tickets and at-fault fender-benders raise Hyundai Elantra yearly insurance costs for different age groups. The data assumes a single male driver, full physical damage coverage, $100 deductibles, and no discounts are factored in.

• Hyundai Elantra historical loss data – Car insurance companies use historical loss data to calculate a rate that offsets possible losses. Vehicles that are shown to have higher claim amounts or frequency will have higher rates for specific coverages. The data below shows the historical insurance loss data for Hyundai Elantra vehicles.

  For each policy coverage, the statistical loss for all vehicles, regardless of make, model or trim level, is equal to 100. Values that are 100 or less imply a favorable loss record, while values that are above 100 indicate more frequent claims or an increased chance of larger losses than average.

  
  

  Car Insurance Loss Data for Hyundai Elantra Models

  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: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

What is the best auto insurance coverage?

When quoting and choosing coverage for your vehicles, there really is not a “perfect” insurance plan. Your needs are unique to you.

For example, these questions may help highlight whether you may require specific advice.

• When would I need additional glass coverage?
• Can I still get insurance after a DUI?
• Is my Hyundai Elantra covered if I use it for business?
• Are all vehicle passengers covered by medical payments coverage?
• Can my babysitter drive my car?
• Am I covered when driving in Canada or Mexico?
• Is my business laptop covered if it gets stolen from my vehicle?

If you don’t know the answers to these questions but a few of them apply, then you may want to think about talking to an agent. To find lower rates from a local agent, complete this form.

When to get advice from an insurance agency

A small number of people would prefer to have an agent’s advice and that is a personal choice. One of the great benefits of price shopping on the web is the fact that you can find cheaper prices and still have a local agent.

Once you complete this simple form, your information is sent to local insurance agents that provide free Lexington car insurance quotes for your insurance coverage. There is no need to visit any agencies as quotes are delivered directly to you. It’s the lowest rates AND a local agent. If you have a need to compare rates for a specific company, feel free to go to their quote page and fill out their quote form.

Finding the right provider should depend on more than just a cheap price quote. These are some questions your agent should answer.

• How will an accident affect your rates?
• Do they get paid more for recommending certain coverages?
• Can you get a list of referrals?
• Do they see any coverage gaps in your plan?
• Which insurance companies are they affiliated with?

Different types of Lexington auto insurance agents

If you want to use a reliable agent, you should know the types of insurance agents and how they can service your needs differently. Insurance agencies in Lexington can be classified as either exclusive or independent.

Exclusive Agents

Agents that elect to be exclusive can only provide pricing for a single company and some examples include State Farm, Allstate, and Farm Bureau. They generally cannot provide other company’s prices so you might not find the best rates. These agents are trained well on their company’s products which can be an advantage. A lot of people purchase coverage from exclusives mainly due to the brand legacy and solid financial strength.

Listed below are Lexington exclusive insurance agencies who can help you get price quotes.

• Stewart Perry – State Farm Insurance Agent
  2128 Nicholasville Rd – Lexington, KY 40503 – (859) 277-7195 – View Map
• Jeff Briggs – State Farm Insurance Agent
  449 Lewis Hargett Cir #150 – Lexington, KY 40503 – (859) 273-8512 – View Map
• State Farm – Bob Pitman
  851 Corporate Dr Ste 200 – Lexington, KY 40503 – (859) 223-1191 – View Map

More insurance agents

Independent Insurance Agents

Agents in the independent channel do not write with just one company so they have the ability to put coverage with any number of different companies and find you cheaper rates. If they find a cheaper price, an independent agent can move your coverage which makes it simple for you.

When comparing car insurance prices, you will want to get quotes from independent agents to ensure the widest selection of prices. Most have the option of insuring with mutual insurance companies which can be an advantage.

Below is a list of independent agencies in Lexington willing to provide price quote information.

• KY Insurance and Investment Grp
  3320 Clays Mill Rd Suite 214 – Lexington, KY 40503 – (859) 224-0316 – View Map
• Elite Insurance
  2408 Sir Barton Way # 375 – Lexington, KY 40509 – (859) 264-9400 – View Map
• Carpenter-Warren Insurance Inc
  271 W Short St # 304 – Lexington, KY 40507 – (859) 252-6691 – View Map

More insurance agents

Best reasons to buy insurance in Kentucky

Even though it can be expensive, paying for insurance is required in Kentucky but also provides important benefits.

First, just about all states have mandatory liability insurance requirements which means the state requires a specific level of liability insurance coverage if you drive a vehicle. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.

Second, if you bought your vehicle with a loan, almost every bank will stipulate that you buy insurance to ensure they get paid if you total the vehicle. If you do not pay your insurance premiums, the bank or lender will purchase a policy for your Hyundai at a much higher premium rate and require you to reimburse them the higher price.

Third, insurance protects your vehicle and your assets. It also can pay for medical transport and hospital expenses incurred in an accident. One policy coverage, liability insurance, also covers all legal expenses up to the policy limit if you cause an accident and are sued. If mother nature or an accident damages your car, collision and comprehensive coverages will pay to have it repaired.

The benefits of insuring your Elantra greatly outweigh the cost, especially with large liability claims. The average driver in America is overpaying over $865 each year so we recommend shopping around every year to be sure current rates are still competitive.

Persistence pays off

Throughout this article, we presented a lot of ways to compare Hyundai Elantra insurance car insurance rates in Lexington. The key concept to understand is the more price quotes you have, the better chance you’ll have of finding cheaper Lexington car insurance quotes. Consumers could even find that the lowest car insurance rates come from an unexpected company.

Cheaper Hyundai Elantra insurance in Lexington is available both online in addition to many Lexington insurance agents, so you should be comparing quotes from both to have the best rate selection. A few companies may not have online rate quotes and most of the time these small, regional companies provide coverage only through independent agents.

Consumers who switch companies do it for a number of reasons such as extreme rates for teen drivers, delays in paying claims, lack of trust in their agent or not issuing a premium refund. Regardless of your reason for switching companies, finding a new insurance company can be easier than you think.

Additional detailed information can be read in these articles:

• Understanding Your Insurance Deductible (Insurance Information Institute)
• Who Has Affordable Auto Insurance for Drivers Over Age 70 in Lexington? (FAQ)
• Liability Insurance Coverage (Nationwide)
• Teen Driving Statistics (iihs.org)