I can't think of a single person who likes buying insurance, especially knowing they are paying too much.
It's hard to believe, but over 70% of consumers have remained with the same insurance company for four years or more, and about 40% of consumers have never even shopped around for cheaper coverage. Indiana consumers can save hundreds of dollars each year by just comparing quotes, but they just assume it's a time-consuming process to compare rate quotes.
Online insurance companies like Progressive, GEICO and Farmers Insurance promote their brand names with ad campaigns and it can be hard to ignore the flashy ads and effectively compare rates to find the best deal.
If you have a policy now, you stand a good chance to be able to find better prices using the concepts covered in this article. Buying the cheapest auto insurance in Fort Wayne is really quite simple as long as you have a good starting point. But Indiana consumers benefit from understanding how the larger insurance companies determine premium rates because rates are impacted by many factors.
Car insurance providers offering affordable price quotes in Indiana
The companies shown below provide comparison quotes in Indiana. If multiple companies are listed, we suggest you get price quotes from several of them in order to find the cheapest rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Azera GLS 4-Dr Sedan||$104||$224||$264||$16||$80||$688||$57|
|Azera Limited 4-Dr Sedan||$210||$426||$264||$16||$80||$996||$83|
|Get Your Own Custom Quote Go|
Data variables include married female driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Indiana minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Estimates do not factor in garaging location in Fort Wayne which can modify auto insurance rates substantially.
Rate comparison for different deductibles
The example below highlights how deductible choice and can impact Hyundai Azera premium costs for each age group. The prices are based on a single female driver, comprehensive and collision coverage, and no discounts are factored in.
Cost difference between full coverage and liability
The illustration below examines Hyundai Azera yearly insurance costs with full physical damage coverage compared to only buying liability only. The premium estimates are based on no violations or accidents, $1,000 deductibles, single female driver, and no discounts are taken into consideration.
When to stop buying full coverage
There is no definitive formula of when to stop paying for comp and collision coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost minus the deductible, then you might want to think about dropping full coverage.
For example, let's assume your Hyundai Azera replacement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $7,000 after you pay the deductible. If you are paying in excess of $700 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.
There are a few situations where only buying liability is not financially feasible. If you still owe money on your vehicle, you are required to maintain 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 in case of an accident, you should not consider dropping full coverage.
Impact of citations and accidents on Fort Wayne insurance rates
The diagram below shows how violations and at-fault collisions can raise Hyundai Azera insurance rates for each different age category. The rate quotes are based on a single male driver, comp and collision included, $500 deductibles, and no policy discounts are applied.
Why Your Insurance Premiums might be higher
It's important that you understand some of the elements that help calculate auto insurance rates. When consumers understand what impacts premium levels, this empowers consumers to make smart changes that could help you find better auto insurance rates. Multiple criteria are used in the calculation when you get your auto insurance bill. A few of the factors are predictable like a motor vehicle report, although some other factors are more transparent like your vehicle usage or your vehicle rating.
- Physical damage deductibles - Protection for physical damage, also called 'full coverage', helps pay for damage to your vehicle. Some coverage claims would be collision with another vehicle, flood damage, and rolling your vehicle. Deductibles for physical damage represent how much money you are required to pay before a claim is paid by your company. The larger the amount you choose to pay out-of-pocket, the better rate you will receive.
- Liability insurance risk factors in - The liability coverage on your policy is the coverage that protects you if ever a jury decides you are liable for personal injury or accident damage. Your policy's liability insurance provides for a legal defense which can cost thousands of dollars. Liability insurance is pretty cheap compared to other policy coverages, so insureds should have plenty of protection for their assets.
- Employer impacts prices - Did you know your job can affect your rates? Jobs such as military generals, executives and miners generally pay higher premiums than the average policyholder because of intense work-related stress and lengthy work days. On the flip side, professions such as actors, historians and the unemployed get better rates.
- Know your vehicle's IIHS safety rating - Safer cars tend to have better insurance rates. Safe vehicles result in less severe injuries and better occupant protection means less claims paid passed on to you as lower rates.
- Insurance costs and vehicle performance - The make and model of the car, truck or SUV you are buying insurance for makes a significant difference in your car insurance bill. Since the Hyundai Azera falls in the passenger car class, insuring your vehicle will cost similar in price or lower when compared to the average rates in Fort Wayne. Small economy passenger cars receive the most favorable rates, but many other things help determine your insurance rates.
- Car features that lower prices - Choosing a vehicle with a theft deterrent system can help lower your rates. Theft prevention devices such as OnStar, LoJack tracking, and tamper alarms can thwart your vehicle from being stolen.
- Insurance losses for a Hyundai Azera - Insurance companies study historical loss data when they file their rates in each state. Vehicles that the data shows to have increased claim numbers or amounts will be charged more to insure. The table below shows the historical insurance loss data for Hyundai Azera vehicles.
For each coverage type, the claim amount for all vehicles compiled together is a value of 100. Values below 100 are indicative of better than average losses, while values that are 100 or greater point to more claims or statistically larger losses.
Hyundai Azera Insurance Loss Statistics
Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Hyundai Azera 115 83 101 99 106 91
Statistics from IIHS.org for 2013-2015 Model Years
Affordable Fort Wayne insurance quotes with discounts
Car insurance companies do not list every discount very clearly, so the following is a list of both the well known as well as the least known savings tricks you should be using when you buy Fort Wayne car insurance online.
- Fort Wayne Homeowners Discount - Just being a homeowner can earn you a little savings because owning a home is proof that your finances are in order.
- Lower Rates for Military - Having a family member in the military may qualify for rate reductions.
- Low Mileage - Maintaining low annual mileage may enable drivers to earn lower insurance rates due to less chance of an accident.
- Club Memberships - Belonging to qualifying employment or professional organizations is a good way to get lower rates on your next insurance statement.
- Early Switch Discount - A few insurance companies allow discounts for signing up prior to your current Azera insurance policy expiring. The savings is around 10%.
- Paperwork-free - A handful of larger companies give back up to $50 for buying a policy and signing up on their website.
- Good Driver Discounts - Drivers who avoid accidents can save up to 40% or more on their Fort Wayne car insurance quote than their less cautious counterparts.
- Anti-lock Brakes - Cars with ABS and/or traction control can avoid accidents and will save you 10% or more on Azera insurance in Fort Wayne.
- Policy Bundle Discount - When you have multiple policies and place coverage with the same company you could save approximately 10% to 15%.
- Include Life Insurance and Save - Not all insurance companies offer life insurance, but some may give you a lower rate if you buy auto and life insurance together.
While discounts sound great, it's important to understand that many deductions do not apply to all coverage premiums. Most only apply to the cost of specific coverages such as collision or personal injury protection. Even though it appears it's possible to get free car insurance, you won't be that lucky. Any qualifying discounts will positively reduce the cost of your policy.
To locate insurers that offer multiple discounts in Indiana, click this link.
Buying from insurance agents
Some consumers just prefer to buy from a local agent and that is recommended in a lot of cases One of the benefits of comparing insurance online is that drivers can save money and get lower rates but still work with a licensed agent. And supporting neighborhood insurance agencies is definitely important in Fort Wayne.
After completing this short form, the quote information is immediately sent to local insurance agents in Fort Wayne that provide free Fort Wayne car insurance quotes for your insurance coverage. You won't need to find an agent because prices are sent directly to you. Get lower rates without having to waste a lot of time. If you have a need to get a price quote from a specific insurance provider, don't hesitate to go to their quote page and fill out their quote form.
If you are searching for a local Fort Wayne insurance agent, it helps to know the two types of insurance agents and how they are slightly different. Agencies in Fort Wayne can be classified as either independent agents or exclusive agents depending on their employer.
Independent Agencies or Brokers
Independent agents often have many company appointments and that enables them to quote your coverage with many different companies and find the cheapest insurance rates. If your agent finds better pricing, the business is moved internally which requires no work on your part.
If you are comparing rate quotes, you absolutely need to get some free quotes from a few independent agents to get the best comparison.
Featured below are independent agents in Fort Wayne that may be able to give you pricing information.
Affordable Agency Inc
2314 Lake Ave - Fort Wayne, IN 46805 - (260) 485-2526 - View Map
These type of agents can only quote rates from one company like State Farm, AAA, Farmers Insurance or Allstate. These agents are unable to place coverage with different providers so it's a take it or leave it situation. These agents receive extensive training on sales techniques and that allows them to sell at a higher price point.
Below are exclusive insurance agents in Fort Wayne who can help you get price quote information.
Deciding on a insurance agent should include more criteria than just the price. A good agent in Fort Wayne will have answers to these questions.
- Do you work with a CSR or direct with the agent?
- Will your rates increase after a single accident?
- If you raise deductibles, how much can you save?
- Do they get paid more for recommending certain coverages?
- How many years of experience in personal auto insurance do they have?
- When do they do a full risk review?
Your insurance coverage should be tailored to you
Always keep in mind that when comparing coverage for your vehicles, there really is not a one-size-fits-all type of policy. Your needs are not the same as everyone else's and your policy should reflect that. These are some specific questions can help discover whether you might need an agent's assistance.
- Why is insurance for a teen driver so high in Fort Wayne?
- Should I buy additional glass protection?
- Can I afford low physical damage deductibles?
- How much underlying liability do I need for an umbrella policy?
- Does my Hyundai Azera qualify for pleasure use?
- Am I covered if I crash into my own garage door?
If it's difficult to answer those questions, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, complete this form or you can also visit this page to select a carrier
In this article, we covered many ideas to reduce Hyundai Azera insurance prices online in Fort Wayne. The key concept to understand is the more times you quote, the better likelihood of getting inexpensive Fort Wayne car insurance quotes. You may even be surprised to find that the lowest prices come from the smaller companies. Regional companies can often provide lower rates in certain areas than the large multi-state companies such as State Farm, GEICO and Nationwide.
When trying to cut insurance costs, it's a bad idea to buy less coverage just to save a little money. There have been many situations where someone sacrificed uninsured motorist or liability limits only to regret that the savings was not a smart move. Your strategy should be to purchase a proper amount of coverage for the lowest price and still be able to protect your assets.
To learn more, feel free to visit the resources below:
- Child Safety FAQ (iihs.org)
- Who Has the Cheapest Indiana Car Insurance for Single Moms? (FAQ)
- How Much is Auto Insurance for Ride Shares in Indiana? (FAQ)
- What is the Cheapest Car Insurance in South Bend, Indiana? (FAQ)
- Teen Driving Statistics (iihs.org)
- No-Fault Auto Insurance Statistics (Insurance Information Institute)
- Teen Driving and Texting (State Farm)
- Parking Tips to Reduce Door Dings (State Farm)