Are you drained from trying to scrape together enough money to pay high insurance rates every month? You are in the same boat as millions of other consumers.
It goes without saying that car insurance companies want to keep you from comparing prices. Insureds who shop around for better prices will probably switch insurance companies because there is a significant possibility of finding a lower rate. Remarkably, a study showed that people who regularly compared price quotes saved $3,450 over four years as compared to drivers who never compared prices.
If finding budget-friendly insurance is your ultimate target, understanding how to find companies and compare insurance premiums can make the process less intimidating. Insurance companies such as State Farm and GEICO persitently shower you with fancy advertisements and it is challenging if not impossible to sift through the bull and find the best price available.
It is always a good idea to quote other rates quite often because insurance rates are rarely the same from one policy term to another. Even if you got the lowest rate on Hyundai Elantra insurance in Greensboro a couple years back you can probably find a lower rate today. There is a lot of wrong information about Elantra insurance online, but I’m going to show you the easiest ways to buy insurance cheaper in Greensboro.
The companies shown below offer price comparisons in Greensboro, NC. To locate the cheapest auto insurance in NC, we recommend you get prices from several of them to get the best price comparison.
Car insurance is not optional
Even though it can be expensive, insurance is required in North Carolina but also provides important benefits.
First, just about all states have minimum mandated liability insurance limits which means the state requires a specific level of liability protection if you don’t want to risk a ticket. 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.
Second, if your Hyundai Elantra has a loan, almost all lenders will require that you have insurance to protect their interest in the vehicle. If you do not keep the policy in force, the bank may insure your Hyundai at a more expensive rate and force you to pay a much higher amount than you were paying before.
Third, insurance safeguards not only your vehicle but also your financial assets. It will also pay for most medical and hospital costs for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, also covers all legal expenses up to the policy limit if you cause an accident and are sued. If you have damage to your Hyundai as the result of the weather or an accident, your car insurance policy will cover the repair costs.
The benefits of buying car insurance are without a doubt worth the cost, particularly for liability claims. In a recent study of 1,000 drivers, the average customer overpays as much as $825 a year so you should quote your policy with other companies each time the policy renews to be sure current rates are still competitive.
Rates and information analytics
The rate information shown next showcases detailed analysis of prices for Hyundai Elantra models. Having a good understanding how car insurance premiums are figured is important for you to make decisions on which coverage to buy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Elantra GLS Touring Station Wagon||$162||$262||$216||$12||$64||$716||$60|
|Elantra Blue 4-Dr Sedan||$162||$374||$254||$16||$76||$882||$74|
|Elantra GLS 4-Dr Sedan||$186||$374||$254||$16||$76||$906||$76|
|Elantra SE 4-Dr Sedan||$186||$374||$254||$16||$76||$906||$76|
|Elantra SE Touring Station Wagon||$186||$318||$216||$12||$64||$796||$66|
|Get Your Own Custom Quote Go|
Data assumes married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and North Carolina minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in garaging location in Greensboro which can affect coverage prices substantially.
The chart below highlights how deductible choice and can affect Hyundai Elantra annual premium costs for different insured age categories. The costs are based on a married female driver, full coverage, and no discounts are taken into consideration.
How violations and accidents impact rates
The diagram below highlights how speeding tickets and at-fault collisions can affect Hyundai Elantra insurance costs for different age groups of insureds. The data is based on a single male driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.
Hyundai Elantra insurance rates by age and gender
The example below illustrates the comparison of Hyundai Elantra insurance premiums for male and female drivers. The data is based on no claims or driving citations, full coverage, $250 deductibles, single status, and no discounts are applied.
Cost comparison with and without full coverage
The information below illustrates the difference between Hyundai Elantra insurance costs with liability coverage only compared to full coverage. The premiums assume no violations or accidents, $250 deductibles, single marital status, and no discounts are applied.
When to buy liability coverage only
There isn’t a steadfast formula of when to drop full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is about 10% or more of the settlement you would receive from your company, then you might want to consider buying only liability coverage.
For example, let’s pretend your Hyundai Elantra book value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $8,000 after paying your deductible. If premiums are more than $800 a year for full coverage, the it may be a good time to stop paying for full coverage.
There are a few cases where eliminating full coverage is not financially feasible. If you still owe a portion of the original loan, you have to maintain full coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Insurance discounts help lower rates for Hyundai Elantra insurance in Greensboro
Insurance is not cheap nor is it fun to buy but companies offer discounts that you may not know about. Some of these discounts will be visible when you complete an application, but a few must be specifically requested before being credited.
- Responsible Driver Discount – Safe drivers may receive a discount up to 45% compared to accident prone drivers.
- Theft Prevention Discount – Vehicles equipped with tracking devices and advanced anti-theft systems can help prevent theft and can earn a small discount on your policy.
- Include Life Insurance and Save – Companies who offer life insurance give a break if you buy life insurance from them.
- Federal Government Employee – Employees or retirees of the government can earn a discount up to 10% but check with your company.
- Military Discounts – Being deployed in the military could trigger a small discount.
Just know that some of the credits will not apply to your bottom line cost. Some only reduce the cost of specific coverages such as physical damage coverage or medical payments. Even though it appears you could get a free insurance policy, it just doesn’t work that way. Any qualifying discounts will definitely reduce the premium cost.
The diagram below shows the comparison of Hyundai Elantra auto insurance rates with and without policy discounts. The data assumes a female driver, no claims, a clean driving record, North Carolina state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, multi-car, claim-free, homeowner, and marriage discounts applied.
A few of the larger companies and a summarized list of policyholder discounts are shown below.
- State Farm offers discounts including multiple policy, good student, student away at school, multiple autos, safe vehicle, and anti-theft.
- Progressive may include discounts for online signing, homeowner, multi-vehicle, multi-policy, good student, and continuous coverage.
- Progressive has savings for continuous coverage, online quote discount, good student, multi-policy, multi-vehicle, online signing, and homeowner.
- MetLife may offer discounts for defensive driver, multi-policy, good driver, accident-free, claim-free, good student
- Farm Bureau policyholders can earn discounts including good student, renewal discount, safe driver, multi-policy, 55 and retired, and youthful driver.
- GEICO includes discounts for anti-lock brakes, multi-policy, seat belt use, emergency military deployment, good student, and daytime running lights.
- SAFECO discounts include anti-lock brakes, teen safety rewards, anti-theft, homeowner, and teen safe driver.
If you want cheaper Greensboro car insurance quotes, ask every company to apply every possible discount. Discounts might not apply in your state. To view insurance companies that offer many of these discounts in Greensboro, click this link.
Car insurance agents near you
Some consumers still like to talk to an insurance agent and that is a smart decision Agents can help you choose the best coverages and help submit paperwork. An additional benefit of comparing rates online is that you can obtain cheap auto insurance quotes and also buy local.
By using this simple form, your insurance coverage information is immediately sent to local insurance agents in Greensboro that give free quotes for your auto insurance coverage. You won’t even need to do any legwork because quoted prices will be sent to you directly. In the event you want to get a rate quote from a specific auto insurance provider, you can always go to their quote page and give them your coverage information.
Deciding on an company requires more thought than just the price. The questions below may impact your decision as well.
- Are all drivers listed on the coverage quote?
- Do they have 24-hour customer assistance?
- Is coverage determined by price?
- Which insurance company do they prefer to write with?
- Can glass repairs be made at your home?
- Will the company cover a rental car if your car is getting fixed?
- When do they do a full risk review?
Not all car insurance agents are the same
When looking for a reputable agency, you should know the types of insurance agents to choose from. Agencies in Greensboro are categorized either exclusive or independent agents depending on their company appointments. Both can write policy coverage, but it’s important to know why they differ since it can affect which type of agent you select.
Agents of this type are contracted to one company and examples are AAA, Allstate, and State Farm. These agents are not able to provide other company’s prices so you might not find the best rates. Exclusive insurance agents receive a lot of sales training in insurance sales which helps them sell on service rather than price.
Below are exclusive insurance agencies in Greensboro that are able to give price quote information.
Archie Herring – State Farm Insurance Agent
1175 Revolution Mill Dr Suite 12 – Greensboro, NC 27405 – (336) 274-8434 – View Map
Independent Agencies or Brokers
Agents in the independent channel are not employed by one company so as a result can place your coverage through lots of different companies and get the cheapest rates. If premiums increase, the business is moved internally and you can keep the same agent. When searching for an agent, it’s a good idea to include a couple of independent agencies for the best price selection.
Listed below is a short list of independent agencies in Greensboro who can help you get comparison quotes.
Nationwide Insurance: Jenkins Insurance Agency Inc
3907 W Market St a – Greensboro, NC 27407 – (336) 854-7900 – View Map
When to get professional advice
When selecting your policy for your vehicles, there isn’t really a cookie cutter policy. Coverage needs to be tailored to your specific needs.
For instance, these questions may help you determine whether your personal situation will benefit from professional help.
- Does every company file a SR-22 automatically?
- What policy terms are available?
- When should I drop full coverage on my Hyundai Elantra?
- Do I get a pro-rated refund if I cancel my policy early?
- Will damage be repaired with OEM parts?
- Do they offer discounts for home and auto coverage?
If you don’t know the answers to these questions then you might want to talk to an agent. To find an agent in your area, simply complete this short form. It only takes a few minutes and can provide invaluable advice.
Insurance coverage basics
Learning about specific coverages of your policy can help you determine the best coverages and the correct deductibles and limits. Insurance terms can be difficult to understand and coverage can change by endorsement.
Coverage for uninsured or underinsured drivers
Your UM/UIM coverage provides protection from other motorists when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as damage to your Hyundai Elantra.
Due to the fact that many North Carolina drivers have only the minimum liability required by law (30/60/25 in North Carolina), their limits can quickly be used up. So UM/UIM coverage should not be overlooked.
Collision coverage protection
Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. A deductible applies and then insurance will cover the remainder.
Collision can pay for claims like sideswiping another vehicle, damaging your car on a curb, hitting a parking meter and driving through your garage door. Paying for collision coverage can be pricey, so consider dropping it from vehicles that are older. You can also choose a higher deductible on your Elantra to save money on collision insurance.
Coverage for medical expenses
Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for pain medications, rehabilitation expenses, dental work, surgery and nursing services. The coverages can be used to cover expenses not covered by your health insurance policy or if you do not have health coverage. Coverage applies to you and your occupants as well as being hit by a car walking across the street. PIP coverage is not an option in every state and may carry a deductible
Coverage for liability
Liability insurance protects you from damage that occurs to people or other property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. As an example, you may have values of 30/60/25 which stand for a limit of $30,000 per injured person, $60,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property.
Liability coverage protects against claims like repair bills for other people’s vehicles, medical expenses and emergency aid. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford. North Carolina requires minimum liability limits of 30/60/25 but you should consider buying higher limits.
The next chart demonstrates why buying low liability limits may not provide adequate coverage.
This covers damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive can pay for things like damage from a tornado or hurricane, hitting a deer, vandalism and theft. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.
Compare but don’t skimp
Cheaper insurance in Greensboro is attainable from both online companies in addition to local insurance agencies, so you need to shop Greensboro car insurance with both in order to have the best chance of saving money. A few companies do not provide rate quotes online and these smaller providers sell through independent agencies.
When trying to cut insurance costs, it’s a bad idea to buy less coverage just to save a little money. There are too many instances where an insured dropped uninsured motorist or liability limits to discover at claim time that it was a big mistake. Your focus should be to buy the best coverage you can find at the lowest possible cost but still have enough coverage for asset protection.
You just learned a lot of ways to lower your Hyundai Elantra insurance rates in Greensboro. It’s most important to understand that the more price quotes you have, the better likelihood of getting low cost Greensboro car insurance quotes. Consumers could even find that the best rates are with the least-expected company.
How to save money on Hyundai Elantra insurance in Greensboro
If your goal is the lowest price, then the best way to get affordable auto insurance rates is to start comparing prices yearly from providers who provide auto insurance in Greensboro.
- Gain an understanding of how companies set rates and the steps you can take to prevent high rates. Many risk factors that cause high rates like speeding tickets, accidents and an unacceptable credit history can be improved by making minor driving habit or lifestyle changes.
- Request price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give rate quotes from one company like GEICO or Farmers Insurance, while independent agents can quote rates from multiple companies. View a list of agents
- Compare the new rates to your existing policy to see if a cheaper rate is available in Greensboro. If you find better rates and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
An important note is to compare the same physical damage deductibles and liability limits on each price quote and and to get quotes from as many companies as possible. This helps ensure a level playing field and a complete price analysis.
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