Save Money on Hyundai Sonata Insurance in Raleigh

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Insurance rates Hyundai Sonata in RaleighDo you want to learn how to find more competitive Hyundai Sonata insurance in Raleigh? Having to pay for expensive Hyundai Sonata insurance in Raleigh can drain your funds and possibly require you to analyze your spending habits. Price shopping at each renewal is an excellent way to reduce premiums and put more money in your pocket.

It goes without saying that auto insurance companies want to keep you from comparing rates. Consumers who shop around once a year will probably move their business because there is a good probability of finding a policy with more affordable rates. A recent insurance study discovered that consumers who shopped around annually saved over $3,500 over four years compared to those who never shopped around.

If finding budget-friendly rates on insurance is the reason you're here, then understanding how to get rate quotes and compare insurance can make it simple to find affordable coverage. Popular companies such as GEICO, 21st Century and Progressive promote their brand names with ads and consumers find it hard to avoid their marketing magic and find the best price available.

It's important to take a look at other company's rates on a regular basis because insurance rates go up and down regularly. Despite the fact that you may have had the best premium rates on Hyundai Sonata insurance in Raleigh two years ago you can probably find a lower rate today. You'll find a ton of advice on Sonata insurance on the web, but in this article, you're going to get some proven techniques to find affordable insurance in Raleigh.

Insurance coverage details

The coverage information displayed next outlines a range of insurance rates for Hyundai Sonata models. Being more informed about how prices are determined is important for you to make smart buying decisions.

Hyundai Sonata Insurance Rates in Raleigh, NC
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sonata GLS 4-Dr Sedan $136 $204 $368 $22 $110 $840 $70
Sonata GLS 4-Dr Sedan $136 $204 $368 $22 $110 $840 $70
Sonata GLS 4-Dr Sedan $136 $204 $368 $22 $110 $840 $70
Sonata SE 4-Dr Sedan $136 $240 $368 $22 $110 $876 $73
Sonata SE 4-Dr Sedan $136 $240 $368 $22 $110 $876 $73
Sonata Limited 4-Dr Sedan $152 $240 $368 $22 $110 $892 $74
Sonata Limited 4-Dr Sedan $152 $240 $368 $22 $110 $892 $74
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Data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, multi-policy, and homeowner. Rate quotes do not factor in specific location information which can affect coverage rates noticeably.

Policy deductible comparison

One of the most common car insurance questions is which deductible level should you buy. The data tables below may help you to understand the rate difference between high and low comp and collision deductibles. The first rate table uses a $100 deductible for physical damage and the second rate chart uses a $1,000 deductible.

Hyundai Sonata insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sonata GLS 4-Dr Sedan $214 $386 $282 $16 $84 $1,007 $84
Sonata GLS 4-Dr Sedan $214 $386 $282 $16 $84 $1,007 $84
Sonata GLS 4-Dr Sedan $214 $386 $282 $16 $84 $1,007 $84
Sonata SE 4-Dr Sedan $214 $456 $282 $16 $84 $1,077 $90
Sonata SE 4-Dr Sedan $214 $456 $282 $16 $84 $1,077 $90
Sonata Limited 4-Dr Sedan $242 $456 $282 $16 $84 $1,105 $92
Sonata Limited 4-Dr Sedan $242 $456 $282 $16 $84 $1,105 $92
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Hyundai Sonata insurance policy rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Sonata GLS 4-Dr Sedan $118 $204 $282 $16 $84 $704 $59
Sonata GLS 4-Dr Sedan $118 $204 $282 $16 $84 $704 $59
Sonata GLS 4-Dr Sedan $118 $204 $282 $16 $84 $704 $59
Sonata SE 4-Dr Sedan $118 $240 $282 $16 $84 $740 $62
Sonata SE 4-Dr Sedan $118 $240 $282 $16 $84 $740 $62
Sonata Limited 4-Dr Sedan $134 $240 $282 $16 $84 $756 $63
Sonata Limited 4-Dr Sedan $134 $240 $282 $16 $84 $756 $63
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Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Premium amounts do not factor in the specific area where the vehicle is garaged which can impact rates considerably.

Based on this data, we can arrive at the conclusion that using a $100 deductible will cost in the ballpark of $27 more each month or $324 each year than buying the higher $1,000 deductible. Since you would have to pay $900 more out of your own pocket with a $1,000 deductible as compared to a $100 deductible, if you have more than 33 months between claims, you would come out ahead if you choose the higher deductible.

Calculate deductible break even point

Average monthly premium for $100 deductibles: $88
Average monthly premium for $1,000 deductibles (subtract): - $61
Monthly savings from raising deductible: $27
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $27
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 33 months

An important sidenote is that a higher deductible level results in more money out-of-pocket when you have a physical damage claim. You need to make sure you have some extra savings in order to pay more to get your vehicle repaired.

The information below shows how choosing a deductible and can affect Hyundai Sonata insurance costs for each age group. The data assumes a married male driver, full physical damage coverage, and no policy discounts are applied.

Car insurance premiums based on gender

The illustration below illustrates the comparison of Hyundai Sonata insurance premiums for male and female drivers. The costs are based on a clean driving record, no claims, comp and collision included, $1,000 deductibles, drivers are single, and no discounts are factored in.

Does full coverage make sense?

The example below illustrates the difference between Hyundai Sonata auto insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in North Carolina. The rates are based on no accidents, no driving violations, $1,000 deductibles, drivers are single, and no additional discounts are factored in.

Should you buy full coverage or liability only?

There is no set rule of when to eliminate physical damage coverage on your policy, but there is a general guideline you can use. If the annual cost of your full coverage insurance is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you may want to consider only buying liability coverage.

For example, let's say your Hyundai Sonata claim settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled, you would only receive $8,000 after paying your deductible. If it's costing you more than $800 annually for comprehensive and collision coverage, then you might want to think about dropping full coverage.

There are a few cases where removing full coverage is not in your best interest. If you still owe a portion of the original loan, you have to carry full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in case of an accident, you should not buy liability only.

Parts of your insurance policy

Having a good grasp of insurance helps when choosing the best coverages and proper limits and deductibles. Insurance terms can be difficult to understand and nobody wants to actually read their policy. Listed below are typical coverages found on most insurance policies.

Comprehensive auto coverage

Comprehensive insurance will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive insurance covers things like damage from flooding, hitting a bird and hail damage. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle is not worth much it's probably time to drop comprehensive insurance.

Auto liability

This will cover damage that occurs to other people or property in an accident. Coverage consists of three different limits, per person bodily injury, per accident bodily injury, and a property damage limit. Your policy might show liability limits of 30/60/25 which stand for a limit of $30,000 per injured person, a total of $60,000 of bodily injury coverage per accident, and a limit of $25,000 paid for damaged property.

Liability coverage pays for things like funeral expenses, court costs and pain and suffering. How much liability should you purchase? That is your choice, but you should buy as much as you can afford. North Carolina state minimum liability requirements are 30/60/25 but it's recommended drivers buy higher limits.

The illustration below demonstrates why buying low liability limits may not be enough.

UM/UIM (Uninsured/Underinsured Motorist) coverage

Uninsured or Underinsured Motorist coverage protects you and your vehicle's occupants from other drivers when they either have no liability insurance or not enough. It can pay for hospital bills for your injuries as well as your vehicle's damage.

Due to the fact that many North Carolina drivers only carry the minimum required liability limits (which is 30/60/25), their liability coverage can quickly be exhausted. That's why carrying high Uninsured/Underinsured Motorist coverage should not be overlooked.

Collision coverage

This coverage pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. A deductible applies then your collision coverage will kick in.

Collision coverage protects against claims like damaging your car on a curb, driving through your garage door, sideswiping another vehicle and hitting a mailbox. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from older vehicles. It's also possible to choose a higher deductible on your Sonata to bring the cost down.

Medical payments and PIP coverage

Personal Injury Protection (PIP) and medical payments coverage kick in for expenses like funeral costs, hospital visits, doctor visits and EMT expenses. They are often utilized in addition to your health insurance plan or if you do not have health coverage. Coverage applies to both the driver and occupants as well as if you are hit as a while walking down the street. Personal Injury Protection is only offered in select states and gives slightly broader coverage than med pay

Frequent quotes can save

When searching for inexpensive Raleigh auto insurance quotes, it's very important that you do not buy less coverage just to save a little money. There have been many cases where someone dropped collision coverage only to find out they didn't purchase enough coverage. The ultimate goal is to buy a smart amount of coverage for the lowest cost, but don't skip important coverages to save money.

We covered some good ideas how you can lower your Hyundai Sonata insurance car insurance rates in Raleigh. It's most important to understand that the more price quotes you have, the higher the chance of saving money. You may even find the best car insurance rates are with some of the smallest insurance companies. These companies may often insure only within specific states and give better rates compared to the large companies like State Farm or Progressive.

Steps to buying cheaper Hyundai Sonata insurance in Raleigh

The most effective way to find cheaper quotes for Hyundai Sonata insurance in Raleigh is to start comparing prices regularly from insurance carriers in North Carolina.

  • Step 1: Take a few minutes and learn about how car insurance works and the measures you can control to drop your rates. Many factors that drive up the price such as high-risk driving behaviors and a low credit rating can be improved by paying attention to minor details.
  • Step 2: Obtain price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only provide price estimates from a single company like GEICO or Allstate, while independent agents can give you price quotes from multiple companies. View prices
  • Step 3: Compare the quotes to your existing rates to determine if switching companies saves money. If you find better rates, make sure there is no lapse in coverage.
  • Step 4: Tell your current company to cancel your existing policy. Submit the completed application along with a down payment to your new company or agent. Don't forget to keep your new proof of insurance certificate in an easily accessible location.

The key thing to know about shopping around is to use similar coverage information on each price quote and and to analyze every insurance company. This ensures a level playing field and the best rate selection.

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