How to Save on Raleigh Hyundai Elantra Insurance

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Insurance quote for Hyundai Elantra in RaleighEveryone knows that insurance companies don't want customers comparing rates. People who rate shop once a year are likely to switch insurance companies because there is a high probability of finding a policy with more affordable rates. A recent insurance study discovered that people who make a habit of shopping around saved $3,400 over four years compared to drivers who never shopped around for lower prices.

If finding the best rates on insurance in Raleigh is your target objective, then having an understanding of how to quote and compare auto insurance can save time and make the process easier.

If saving money is your primary concern, then the best way to find low-cost auto insurance rates in Raleigh is to compare prices once a year from different companies who provide auto insurance in North Carolina.

  1. Try to comprehend auto insurance and the things you can control to prevent rate increases. Many rating criteria that cause high rates like traffic tickets, fender benders, and poor credit can be remedied by paying attention to minor details. This article gives instructions to get cheaper rates and find overlooked discounts.
  2. Quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can only give prices from one company like GEICO or State Farm, while agents who are independent can give you price quotes from many different companies. View companies
  3. Compare the price quotes to your existing policy and see if there is a cheaper rate in Raleigh. If you can save some money, make sure coverage does not lapse between policies.
  4. Provide notification to your current company of your intention to cancel your current car insurance policy. Submit the required down payment along with the signed application to your new carrier. As soon as you can, safely store the certificate of insurance in a readily accessible location in your vehicle.

A tip to remember is that you'll want to make sure you compare the same level of coverage on every quote request and and to get quotes from as many carriers as you can. This ensures a fair price comparison and a complete price analysis.

The following companies are our best choices to provide free rate quotes in North Carolina. If you want the best cheap car insurance in Raleigh, it's a good idea that you visit several of them to find the most affordable car insurance rates.

Insurance discounts are available to lower rates

Not too many consumers would say insurance is affordable, but there are discounts available that you may not know about. Certain credits will be shown at the time you complete a quote, but some may not be applied and must be specifically requested in order for you to get them.Cheaper insurance with discounts

  • Multiple Policy Discount - If you insure your home and vehicles with the same insurance company you could save over 10 percent off each policy depending on the company.
  • Paperwork-free - A few larger online companies will provide an incentive simply for signing online.
  • Discount for Passive Restraints - Cars that have air bags or automatic seat belts may earn rate discounts as much as 30%.
  • Anti-theft System - Anti-theft and alarm system equipped vehicles prevent vehicle theft and will save you 10% or more on Elantra insurance in Raleigh.
  • Good Grades Discount - Excelling in school could provide a savings of up to 20% or more. You can use this discount normally well after school through age 25.
  • Early Payment Discounts - If you can afford to pay the entire bill rather than paying in monthly installments you may have a lower total premium amount.
  • Military Deployment Discount - Being on active duty in the military could mean lower prices.

As is typical with insurance, most of the big mark downs will not be given to your bottom line cost. Some only apply to the cost of specific coverages such as physical damage coverage or medical payments. Despite the appearance that having all the discounts means you get insurance for free, insurance companies aren't that generous. But all discounts will definitely reduce your policy premium.

The diagram below visualizes the comparison of Hyundai Elantra insurance costs with and without discounts applied to the rates. The prices are based on a male driver, no claims or driving citations, North Carolina state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with claim-free, marriage, multi-car, multi-policy, homeowner, and safe-driver discounts applied.

If you would like to see a list of insurers with discount rates in Raleigh, click here to view.

Facts and figures for Hyundai Elantra insurance

The price information displayed below showcases detailed analysis of insurance costs for Hyundai Elantra models. Learning as much as possible about how car insurance premiums are figured can benefit drivers when making smart buying decisions.

Hyundai Elantra Insurance Rates in Raleigh, NC
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
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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, safe-driver, multi-policy, claim-free, and multi-vehicle. Price information does not factor in vehicle garaging location which can influence premium rates significantly.

Insurance deductibles

One common question asked by Raleigh drivers is how low should you set your deductibles. The premium rates below sum up the cost difference between low and high physical damage coverage deductibles. The first set of rates uses a $250 physical damage deductible and the second price grid uses a $500 deductible.

Hyundai Elantra insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $168 $266 $212 $12 $64 $747 $62
Elantra Blue 4-Dr Sedan $168 $382 $250 $14 $74 $913 $76
Elantra GLS 4-Dr Sedan $192 $382 $250 $14 $74 $937 $78
Elantra SE 4-Dr Sedan $192 $382 $250 $14 $74 $937 $78
Elantra SE Touring Station Wagon $192 $324 $212 $12 $64 $829 $69
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Hyundai Elantra insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $136 $214 $212 $12 $64 $638 $53
Elantra Blue 4-Dr Sedan $136 $308 $250 $14 $74 $782 $65
Elantra GLS 4-Dr Sedan $156 $308 $250 $14 $74 $802 $67
Elantra SE 4-Dr Sedan $156 $308 $250 $14 $74 $802 $67
Elantra SE Touring Station Wagon $156 $262 $212 $12 $64 $706 $59
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Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Rates do not factor in Raleigh location which can decrease or increase price quotes greatly.

We can estimate from the data above that using a $250 deductible costs approximately $11 more each month or $132 each year than quoting the higher $500 deductible. Since you would have to pay $250 more to settle a claim with a $500 deductible as compared to a $250 deductible, if you have at a minimum 23 months between claim filings, you would probably be better off if you decide on a higher deductible.

The information below demonstrates how deductibles and can affect Hyundai Elantra insurance costs for each age group. The rate quotes are based on a single male driver, comprehensive and collision coverage, and no other discounts are factored in.

Bad driving habits will cost you more

The example below illustrates how traffic citations and at-fault accidents drive up Hyundai Elantra auto insurance rates for different age groups. The premiums assume a single male driver, full physical damage coverage, $1,000 deductibles, and no discounts are taken into consideration.

Male drivers versus female drivers

The diagram below shows the comparison of Hyundai Elantra annual premium costs for male and female drivers. The premium estimates are based on a clean driving record, no claims, full physical damage coverage, $1,000 deductibles, single status, and no other discounts are factored in.

Rate difference between full and liability-only coverage

The illustration below shows the difference between Hyundai Elantra insurance premiums with full coverage compared to only the North Carolina minimum liability coverage. The premium estimates are based on no driving violations, no at-fault accidents, $250 deductibles, drivers are single, and no policy discounts are applied.

When to drop comprehensive and collision

There is no clear-cut rule for eliminating full coverage, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than around 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.

For example, let's say your Hyundai Elantra replacement value is $4,000 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $3,000 after paying your policy deductible. If you are paying over $300 a year to have full coverage, then it may be the right time to buy liability only.

There are a few cases where dropping full coverage is not financially feasible. If you still owe money on your vehicle, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should keep full coverage in place.

Lower Your Raleigh Insurance Premiums

It's important that you understand some of the factors that aid in calculating the level of your policy premiums. When you know what positively or negatively positively or negatively impacts your premiums, this allows you to make educated decisions that could help you find big savings. Many factors are used when you get a price on insurance. Most are fairly basic like a motor vehicle report, but other factors are not quite as obvious such as your marital status or your vehicle rating.

The list below includes a few of the "ingredients" car insurance companies consider when setting your rate level.

More traffic means higher claims - Choosing to live in a rural area can save you money when insuring your vehicles. City drivers have much more traffic and more severe claims. Fewer drivers and short commutes means less chance of accidents and a lower car theft rate.

Never allow your policy to lapse - Driving without insurance is illegal and companies may charge more for letting your coverage have a gap. Not only will you pay more, the inability to provide proof of insurance could result in a license revocation or jail time.

Your spouse saves you money - Walking down the aisle helps lower the price on your car insurance policy. It demonstrates that you tend to be more mature than a single person and insurance companies like that drivers who are married are more cautious.

Infrequent drivers can save - The more you drive your Hyundai in a year's time the higher your rates will be. A lot of companies rate vehicles determined by how the vehicle is used. Autos not used for work or commuting receive lower rates compared to those used for work or business. It's a smart idea to ensure your car insurance policy is rated on the correct driver usage. Having the wrong rating on your Elantra may be costing you.

Your stress level may be raising your premiums - Did you know your career choice can influence rates? Jobs like lawyers, airline pilots, and miners usually pay higher rates than average because of intense work situations and lots of time spent at work. Conversely, occupations such as scientists, engineers and retirees receive lower rates.

More performance means more cost - The make and model of the vehicle you are buying insurance for makes a substantial difference in your rates. Smaller low performance passenger cars usually have the lowest premiums, but your final cost has many other factors.

The following data uses these assumptions: single male driver age 20, full coverage with $100 deductibles, and no discounts or violations. It compares Hyundai Elantra insurance premiums compared to other vehicles that have different performances.

Too many car insurance claims will drive premiums up - Companies in North Carolina award most affordable rates to drivers who file claims infrequently. If you file claims often, you can pretty much guarantee increased rates or even have your policy non-renewed. Insurance coverage is meant to be used in the event of claims that pose a financial burden.

Insurance loss probability for a Hyundai Elantra - Companies analyze historical claim data to determine a rate that will be profitable for them. Models that are shown to have higher frequency or amount of claims will have higher rates.

The table below demonstrates the insurance loss data used by companies for Hyundai Elantra vehicles. For each policy coverage type, the loss probability for all vehicles averaged together is equal to 100. Numbers that are below 100 are indicative of better than average losses, while values that are 100 or greater indicate higher probability of having a loss or statistically larger losses.

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