Are you a victim of an underperforming, overpriced insurance policy? Trust us, many drivers feel the same as you.
Insurance companies such as Geico, 21st Century and Progressive all claim big savings with ad campaigns and it can be hard to ignore the propoganda and effectively compare rates to find the best deal.
If you currently have car insurance, you will most likely be able to cut costs considerably using this strategy. Choosing the best insurance company for you is easy if you know what you’re doing. Although vehicle owners must learn how insurance companies sell insurance online and use this information to your advantage.
When shopping for auto insurance there are multiple ways to obtain and compare prices from local auto insurance companies. The recommended way to do a complete rate comparison is to get quotes online. This can be done by using one of the methods below.
For a list of companies in your area, click here.
The approach you take is up to you, just do your best to use the same coverage limits for each price quote. If you have higher or lower deductibles then you won’t be able to determine which rate is truly the best. Quoting even small variations in insurance coverages or limits may cause a big price difference. Just remember that making a lot of price comparisons provides better odds of finding a lower rate than you’re paying now.
State Farm, Geico and Progressive endlessly run ads in print and on television. They all state the claim about how much you will save after switching your policy. That’s great but how can every company claim to save you money? This is the trick they use.
Insurance companies provide the lowest rates for the type of insured that is profitable for them. A good example of this type of insured may need to be over the age of 45, insures multiple vehicles, and has excellent credit. A driver that fits those parameters receives the best premium rates and as a result will probably save when they switch companies.
People who cannot meet the ideal profile will probably have to pay higher premiums which translates to the customer buying from someone else. If you pay close attention to the ads, they say “customers who switch” not “all people who quote” save that much money. That is how insurance companies can advertise the savings. Because of this risk profiling, you really need to compare many company’s car insurance rates. It’s impossible to know which company will provide you with the cheapest rates.
Some insurance providers don’t always list every disount available in a way that’s easy to find, so we took the time to find some of the best known as well as some of the hidden discounts you could be receiving when you buy auto insurance online.
Discounts lower rates, but most of the big mark downs will not be given to the overall cost of the policy. Some only apply to the price of certain insurance coverages like medical payments or collision. So even though they make it sound like having all the discounts means you get insurance for free, you’re out of luck.
Companies and their offered discounts are detailed below.
Before you buy a policy, ask all the companies to apply every possible discount. Depending on the company, some discounts may not apply in your area. To locate providers that offer the discounts shown above, click this link.
When it comes to choosing adequate coverage for your personal vehicles, there really is no one size fits all plan. Your needs are not the same as everyone else’s so your insurance should reflect that For example, these questions could help you determine if your insurance needs would benefit from an agent’s advice.
If you’re not sure about those questions then you might want to talk to a licensed insurance agent. If you want to speak to an agent in your area, fill out this quick form or you can go here for a list of companies in your area.
Knowing the specifics of a auto insurance policy can help you determine appropriate coverage at the best deductibles and correct limits. Policy terminology can be ambiguous and reading a policy is terribly boring. Below you’ll find the normal coverages found on most auto insurance policies.
Medical expense coverage – Coverage for medical payments and/or PIP reimburse you for short-term medical expenses such as ambulance fees, doctor visits, hospital visits, chiropractic care and rehabilitation expenses. The coverages can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Medical payments and PIP cover not only the driver but also the vehicle occupants as well as if you are hit as a while walking down the street. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Comprehensive protection – Comprehensive insurance coverage pays for damage OTHER than collision with another vehicle or object. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive coverage protects against things such as a broken windshield, fire damage and rock chips in glass. The maximum amount you’ll receive from a claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s probably time to drop comprehensive insurance.
Liability auto insurance – This provides protection from damages or injuries you inflict on people or other property. It protects YOU from legal claims by others. It does not cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have limits of 50/100/50 which means a limit of $50,000 per injured person, a per accident bodily injury limit of $100,000, and $50,000 of coverage for damaged propery.
Liability insurance covers claims like loss of income, medical expenses, funeral expenses and medical services. How much liability should you purchase? That is a personal decision, but consider buying higher limits if possible.
Collision coverage – Collision coverage covers damage to your Elantra resulting from colliding with an object or car. You will need to pay your deductible then your collision coverage will kick in.
Collision coverage protects against things like sustaining damage from a pot hole, hitting a parking meter, colliding with another moving vehicle and colliding with a tree. This coverage can be expensive, so consider dropping it from vehicles that are older. It’s also possible to raise the deductible to save money on collision insurance.
Uninsured or underinsured coverage – This coverage protects you and your vehicle from other drivers when they either have no liability insurance or not enough. This coverage pays for injuries sustained by your vehicle’s occupants as well as damage to your Hyundai Elantra.
Due to the fact that many drivers only purchase the least amount of liability that is required, their limits can quickly be used up. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.
We just covered quite a bit of information on how to lower your 2004 Hyundai Elantra insurance premium rates. The key thing to remember is the more providers you compare, the higher the chance of saving money. Drivers may discover the most savings is with a small local company. These smaller insurers often have lower prices on specific markets than their larger competitors like State Farm, Geico and Nationwide.
As you restructure your insurance plan, you should never buy poor coverage just to save money. In many instances, drivers have reduced uninsured motorist or liability limits only to discover later that a couple dollars of savings turned into a financial nightmare. The ultimate goal is to purchase plenty of coverage at the best cost, but do not sacrifice coverage to save money.
Additional information can be found at the links below
Cornelius Haley
GEICO and State Farm had the best prices I found in Virginia.
Enola Bryant
Cheap car insurance? What’s that? Proud to be from Indianapolis, Indiana. Got quotes from Allstate, Erie, and The General for my Hyundai and saved $68 a year. Left Allstate to switch. A clean driving record helps.
Alyssa Barr
Does 21st Century do SR22s in South Dakota?
Martin Dawson
I got quite a few price quotes for a 2004 Hyundai Elantra in Minneapolis, MN. Ended up at darn near $70 every six months with Amica. Was with Eastwood. I recommend comparing lots of rates.
Johnathon Bradley
I’m in Springfield, MO. I compared lots of rates. Saved darn near $20 a month. GEICO was the cheapest option for me. Insured with Amica before.
Majorie Reyes
Not sure if this is cheap. I’m in the suburbs of Columbus, Georgia. Compared quite a few companies. Saved roughly $20 a month. 21st Century was the cheapest option for me. Just go online and compare their rates. Full coverage costs too much.
Astrid Edwards
This is too expensive. I live in Missoula, MT. Compared quite a few companies. Saved about $20 a month. State Farm was the best choice for me. Was with State Farm. I don’t have comp or collision coverage.
Anastacia Graves
Here’s what I found out. Live in Wilmington, Delaware. I compared lots of rates. Saved about $20 a month. Progressive was the cheapest option for me. Just liability coverage since it’s getting old.
Shawnta Keith
If you’re a decent driver and live near Juneau, AK, check out State Farm. They seem to be cheaper. I have a teen driver too. Can still barely afford it. Next renewal I’ll just do liability.
Nestor Perkins
I got decent rates for a 2004 Hyundai Elantra in Greensboro, North Carolina. Ended up at roughly $70 every six months with Auto-Owners. I used their online quote form to compare rates. It’s only liability tho.
Jesenia Welch
From Buffalo, New York. Got rates from Nationwide, Erie, State Farm, and American Family for my 2004 Hyundai Elantra and I think I cut my rates about $20 each month. Have a couple speeding tickets too. Book value doesn’t justify full coverage anymore.
Evonne Williamson
I can’t pay high rates. I’m in the suburbs of Dallas, Texas. I got free quotes from Auto-Owners, Mercury, and some smaller one I can’t remember the name of for my 2004 Hyundai Elantra and saved $78 a year. Was with Liberty Mutual. Anyone else drop full coverage?
Rebecka Blackburn
When do I drop full coverage?
Ramona Gray
Anyone find cheap rates around Baton Rouge, Louisiana?
Haley Woods
Lots of good stuff here. I’m from Charleston, South Carolina. Quoted prices from GEICO, Auto-Owners, and Eastwood for my 2004 Hyundai Elantra and I think I saved around $20 each month. I dropped full coverage awhile back.
Kathie Knight
Well-written and thought out article. I’m in the suburbs of Davenport, Iowa. Quoted rates from Amica, Mercury, and Travelers for my Hyundai and I’m now saving $16 a month. Was with American Family. I get lower rates because of my clean driving record. I used their website to get prices. I dropped full coverage awhile back.