2014 Hyundai Genesis Insurance Rates

Did you come to the realization that you have overpriced car insurance? It’s a common feeling and you are not the only one feeling buyer’s remorse. You have multiple car insurance companies to pick from, and although it’s a good thing to have a selection, so many choices can make it hard to find a good deal.

You need to check car insurance prices occasionally because car insurance rates trend upward over time. If you had the lowest premium rates on Genesis coverage last year you will most likely find a better price today. Ignore everything you know about car insurance because you’re going to learn how to use the internet to properly buy coverages and cut your premium.

Why you might pay lower rates

Lots of things are used in the calculation when you quote your car insurance policy. Some are pretty understandable such as your driving history, although some other factors are more transparent like where you live and annual miles driven.When buying auto insurance it’s important to understand a few of the rating criteria that play a part in calculating the rates you pay for auto insurance. When you know what positively or negatively impacts premium levels, this enables informed choices that could result in lower rates.

The list below includes just a few of the factors that factor into your rate level.

• Insurance companies don’t like frequent claims – If you are a frequent claim filer, don’t be surprised to see either policy cancellation or increased premiums. Car insurance companies award the best rates to insureds who are not frequent claim filers. Insurance coverage is designed for more catestrophic claims.
• Men tend to take more risk – The statistics show that females tend to be a little less risky than males. It does not mean men are worse drivers. Females and males have fender benders in similar numbers, but the men have costlier accidents. Not only that, but men also get more serious tickets like DUI and reckless driving. Youthful male drivers tend to get in the most accidents and therefore pay the highest rates.
• How much liability protection – Liability insurance will afford coverage if ever you are ruled to be at fault for causing personal injury or damage in an accident. Your liability coverage provides for a legal defense which can cost a lot. Liability insurance is pretty cheap compared to insuring for physical damage coverage, so do not skimp.
• Single drivers take more risk – Walking down the aisle may save some money on your policy. Having a spouse usually means you are more stable financially and statistics show married drivers tend to have fewer serious accidents.
• Tickets mean higher costs – Drivers with clean records tend to pay less for car insurance than people who have multiple driving citations. Even a single moving violation may cause rates to rise by as much as twenty percent. People who have serious violations like hit and run, DWI or reckless driving convictions may face state-mandated requirements to submit a SR-22 or proof of financial responsibility to the state department of motor vehicles in order to legally drive a vehicle.

Cut your auto insurance rates with discounts

Auto insurance is easily one of your largest bills, but companies offer discounts that may help make it more affordable. Certain discounts will be triggered automatically at the time of purchase, but a few need to be asked for before they will apply.

• Buy New and Save – Buying a new car instead of a used car may earn a small discount compared to insuring an older model.
• Low Mileage – Low annual miles could qualify for better auto insurancerates on cars that stay parked.
• Waiver for an Accident – Not really a discount, but companies like Geico, Allstate and Liberty Mutual will forgive one accident before they charge you more for coverage if you have no claims for a certain period of time.
• Student Discount for Driver Training – Cut your cost by having your teen driver participate in a local driver’s education class if offered at their school.
• Early Switch Discount – Select companies give a discount for renewing your policy prior to your current policy expiring. You can save around 10% with this discount.
• Multiple Vehicles – Buying coverage for all your vehicles on a single policy can get a discount for every vehicle.

One last thing about discounts, some of the credits will not apply to your bottom line cost. Some only apply to the cost of specific coverages such as comp or med pay. If you do the math and it seems like all the discounts add up to a free policy, that’s just not realistic.

To see a list of insurers with significant discounts, click here.

You are unique and your auto insurance should be too

When buying proper insurance coverage, there is no “perfect” insurance plan. Each situation is unique so your insurance needs to address that. For instance, these questions could help you determine if your insurance needs may require specific advice.

• Is my 2014 Hyundai Genesis covered for smoke damage?
• When can my company non-renew my policy?
• Does my policy pay for OEM or aftermarket parts?
• How much liability coverage do I need in my state?
• Can I make deliveries for my home business?
• Do I get a pro-rated refund if I cancel my policy early?
• Can I afford to buy a different vehicle if my 2014 Hyundai Genesis is totaled?
• When should I buy a commercial auto policy?
• Which is better, split liability limits or combined limits?

If you can’t answer these questions, you might consider talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, free and can provide invaluable advice.

Specific coverage details

Having a good grasp of a insurance policy can be of help when determining which coverages you need and proper limits and deductibles. The coverage terms in a policy can be ambiguous and coverage can change by endorsement. Below you’ll find typical coverage types found on most insurance policies.

Medical costs insurance – Coverage for medical payments and/or PIP kick in for bills for things like nursing services, rehabilitation expenses and ambulance fees. They are often used to fill the gap from your health insurance program or if there is no health insurance coverage. They cover you and your occupants and also covers if you are hit as a while walking down the street. Personal injury protection coverage is not available in all states but it provides additional coverages not offered by medical payments coverage

Collision coverage – Collision insurance pays for damage to your Genesis from colliding with an object or car. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for things like scraping a guard rail, sideswiping another vehicle and rolling your car. This coverage can be expensive, so analyze the benefit of dropping coverage from vehicles that are older. Another option is to bump up the deductible to bring the cost down.

UM/UIM Coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. Covered losses include hospital bills for your injuries and damage to your Hyundai Genesis.

Due to the fact that many drivers only carry the minimum required liability limits, it only takes a small accident to exceed their coverage. That’s why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked. Usually your uninsured/underinsured motorist coverages are similar to your liability insurance amounts.

Comprehensive or Other Than Collision – This pays to fix your vehicle from damage from a wide range of events other than collision. You first must pay your deductible then your comprehensive coverage will pay.

Comprehensive coverage pays for things like falling objects, hitting a bird, damage from a tornado or hurricane, vandalism and hail damage. The maximum payout your insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low consider dropping full coverage.

Coverage for liability – Liability insurance protects you from damage that occurs to other’s property or people by causing an accident. It protects YOU against other people’s claims. It does not cover damage to your own property or vehicle.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. As an example, you may have values of 100/300/100 which means a limit of $100,000 per injured person, $300,000 for the entire accident, and a limit of $100,000 paid for damaged property. Another option is one limit called combined single limit (CSL) which provides one coverage limit without having the split limit caps.

Liability coverage pays for claims such as repair costs for stationary objects, structural damage, repair bills for other people’s vehicles and funeral expenses. How much liability coverage do you need? That is a personal decision, but buy as much as you can afford.

What is YOUR best insurance company?

As you go through the steps to switch your coverage, it’s very important that you do not buy less coverage just to save a little money. There have been many situations where an insured dropped collision coverage and learned later they didn’t have enough coverage. The proper strategy is to buy a smart amount of coverage at the best price and still be able to protect your assets.

You just learned a lot of tips how to save on 2014 Hyundai Genesis insurance. The key concept to understand is the more rate quotes you have, the better your comparison will be. You may be surprised to find that the best price on auto insurance is with the least-expected company. They may cover specific market segments cheaper than the large multi-state companies such as Allstate and Progressive.

More information is available at the links below

• Protect Yourself Against Auto Theft (Insurance Information Insitute)
• What is a Telematics Device? (Allstate)
• Liability Insurance Coverage (Nationwide)
• Five Tips to Save on Auto Insurance (Insurance Information Insitute)