Pricey Hyundai Genesis insurance in Indianapolis can stress out your funds and put the squeeze on your family's finances. Getting a rate comparison can lower your rates and help to reduce premiums and put more money in your pocket.
A recent study showed that the vast majority of insurance customers kept buying from the same company for a minimum of four years, and 38% of customers have never quoted insurance rates at all. Indiana drivers can cut their rates by 55% a year by just comparing quotes, but they won't spend time to find lower-cost insurance by shopping around. Multiple insurers compete for your business, so it can be very hard to choose a insurance company and get the best coverage at the best price available on Hyundai Genesis insurance in Indianapolis.
It's a great practice to do price comparisons at least once a year because insurance prices fluctuate regularly. Just because you found the best deal on Hyundai Genesis insurance in Indianapolis six months ago you can probably find a better rate now. You'll find quite a bit of inaccurate information about Genesis insurance online but we're going to give you some excellent ideas to put money back in your pocket.
Cutting your car insurance rates is actually easier than you may think. Just take time to compare rates to find the company with affordable Hyundai Genesis insurance quotes.
Getting price quotes online is very simple and it makes it obsolete to go to insurance agents' offices. Comparing Hyundai Genesis insurance rate quotes online has reduced the need for local agents unless you have a complicated situation and need the personal advice of a local agency. It is possible with some companies get the lowest quotes online and have a local agent actually service the policy.
The companies shown below are ready to provide quotes in Indiana. If several companies are displayed, we suggest you visit as many as you can to get a more complete price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Genesis 2.0T 2-Dr Coupe||$130||$306||$396||$24||$118||$974||$81|
|Genesis 3.8 4-Dr Sedan||$262||$504||$250||$14||$76||$1,106||$92|
|Genesis 2.0T Premium 2-Dr Coupe||$262||$580||$368||$22||$110||$1,342||$112|
|Genesis 3.8 2-Dr Coupe||$166||$358||$424||$26||$128||$1,102||$92|
|Genesis 2.0T Track 2-Dr Coupe||$144||$306||$396||$24||$118||$988||$82|
|Genesis 3.8 Grand Touring 2-Dr Coupe||$346||$592||$460||$28||$138||$1,564||$130|
|Genesis 4.6 4-Dr Sedan||$310||$496||$312||$18||$94||$1,230||$103|
|Genesis 3.8 Track 2-Dr Coupe||$346||$670||$460||$28||$138||$1,642||$137|
|Get Your Own Custom Quote Go|
Table data represents single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Indiana minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, claim-free, and homeowner. Information does not factor in vehicle garaging location which can revise premiums significantly.
Rate difference between full and liability-only coverage
The illustration below illustrates the comparison of Hyundai Genesis auto insurance rates with full physical damage coverage compared to only buying liability only. The prices are based on no tickets, no at-fault accidents, $250 deductibles, married male driver, and no policy discounts are applied.
When to drop comprehensive and collision
There isn't a written rule for phasing out physical damage coverage on your policy, but there is a guideline you can consider. If the yearly cost of comp and collision coverage is about 10% or more of replacement cost minus your deductible, then it's probably a good time to buy liability coverage only.
For example, let's assume your Hyundai Genesis settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $2,000 after paying your deductible. If it's costing you more than $200 annually to have full coverage, then it may be the right time to buy liability only.
There are some situations where dropping full coverage is not a good idea. If you still have a lienholder on your title, you have to keep full coverage in order to keep the loan. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.
Violations and accidents raise rates
The example below shows how violations and fender-benders influence Hyundai Genesis car insurance costs for different age groups of insureds. The rates are based on a single male driver, comp and collision included, $500 deductibles, and no discounts are factored in.
Analysis of deductible levels
The example below demonstrates how choosing different deductibles and can influence Hyundai Genesis premium costs for each age group. The data assumes a married male driver, comp and collision included, and no discounts are factored in.
Why do I need car insurance?
Even though it can be expensive, paying for insurance is required in Indiana but it also protects you in many ways.
First, almost all states have minimum mandated liability insurance limits which means you are required to buy specific minimum amounts of liability insurance coverage in order to get the vehicle licensed. In Indiana these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you bought your Hyundai Genesis with a loan, it's most likely the lender will require you to have insurance to guarantee their interest in the vehicle. If you do not keep the policy in force, the bank or lender will purchase a policy for your Hyundai for a lot more money and force you to pay a much higher amount than you were paying before.
Third, insurance protects both your Hyundai Genesis and your assets. It will also reimburse you for all forms of medical expenses for both you and anyone you injure as the result of an accident. Liability coverage, the one required by state law, will also pay attorney fees if you are sued as the result of an accident. If mother nature or an accident damages your car, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of having insurance outweigh the cost, specifically if you ever have a liability claim. An average driver in America is currently overpaying as much as $865 each year so smart consumers compare quotes every year to ensure rates are inline.
Four Tips to Get Lower-cost Indianapolis Insurance Costs
Part of the car insurance buying process is learning some of the elements that help determine your car insurance rates. When consumers understand what determines premiums, this enables you to make decisions that could help you find big savings. Lots of things are part of the equation when quoting car insurance. Some of the criteria are obvious like an MVR report, although others are more transparent like your continuous coverage or your financial responsibility.
- Are women or men drivers cheaper? - Over time, data shows that women are safer drivers than men. However, don't assume that women are BETTER drivers than men. Women and men have fender benders at a similar rate, but the males get into accidents with more damage. Men also tend to receive more major tickets such as driving while intoxicated (DWI) or driving recklessly. Youthful male drivers have the highest risk to insure and thus pay the highest rates.
- Premiums are affected by your credit rating - An insured's credit score can be a huge factor in determining what you pay. Insureds with very high credit ratings tend to be better risks to insure as compared to drivers with lower ratings. So if your credit score is low, you may save money insuring your Hyundai Genesis by improving your credit score.
- Physical damage deductibles are a factor - Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your Hyundai. Examples of covered claims could be a broken side mirror, collision with an animal, and windstorm damage. Comprehensive and collision coverage deductibles define how much you are required to spend if you file a covered claim. The more money you choose to pay out-of-pocket, the less your company will charge you for insurance.
- Do thieves like your car? - Driving a car with anti-theft technology or alarm system can get you a discount on your car insurance. Anti-theft devices like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all help prevent your car from being stolen.
- Hyundai Genesis insurance loss statistics - Insurers factor in insurance loss information to calculate a rate that will offset losses. Vehicles that have high amounts or severity of claims will have higher premium rates.
The table below illustrates the actual insurance loss data for Hyundai Genesis vehicles. For each policy coverage, the loss probablilty for all vehicles, as a total average, is a value of 100. Values that are under 100 are indicative of better than average losses, while numbers above 100 indicate more frequent claims or a tendancy for claims to be larger.
Hyundai Genesis Insurance Claim Statistics
Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Hyundai Genesis 178 122 117 119 103 117 Hyundai Genesis 4dr 154 71 154 85 99
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Discounts can help lower premiums on Hyundai Genesis insurance in Indianapolis
Insurance can cost an arm and a leg, but you might already qualify for some discounts to cut the cost considerably. A few discounts will be applied at the time you complete a quote, but occasionally some discounts must be specially asked for prior to receiving the credit.
- Safe Driver Discounts - Safe drivers could pay up to 40% less than their less cautious counterparts.
- Anti-lock Brakes - Cars and trucks with anti-lock braking systems are safer to drive and therefore earn up to a 10% discount.
- Defensive Driver Discount - Taking a defensive driving class can save you 5% or more if you qualify.
- Full Payment Discount - If paying your policy premium upfront rather than paying monthly you can avoid monthly service charges.
- Driver's Ed - Require your teen driver to successfully take a driver's education course in high school.
- Bundled Policy Discount - When you have multiple policies and insure them both with the same insurance company you could earn a discount of up to 20% and get you cheaper Genesis insurance.
Drivers should understand that most discount credits are not given the the whole policy. Some only apply to the price of certain insurance coverages like liability, collision or medical payments. Even though it appears having all the discounts means you get insurance for free, you aren't that lucky.
Companies and their possible discounts can be found below.
- State Farm policyholders can earn discounts including Steer Clear safe driver discount, student away at school, multiple policy, good driver, and Drive Safe & Save.
- American Family has savings for TimeAway discount, Steer into Savings, mySafetyValet, accident-free, and defensive driver.
- AAA may offer discounts for multi-policy, education and occupation, AAA membership discount, good driver, good student, multi-car, and pay-in-full.
- GEICO discounts include daytime running lights, driver training, defensive driver, air bags, federal employee, emergency military deployment, and anti-lock brakes.
- Mercury Insurance offers discounts for annual mileage, low natural disaster claims, professional/association, ease of repair, and good student.
- Farmers Insurance offers discounts including multi-car, mature driver, distant student, early shopping, business and professional, switch companies, and pay in full.
- Progressive offers premium reductions for online quote discount, multi-vehicle, continuous coverage, good student, and online signing.
It's a good idea to ask every prospective company which discounts can lower your rates. Depending on the company, some discounts might not be offered on policies in every state. To view insurers with significant discounts in Indianapolis, click here to view.
Compare rates but buy from a local Indianapolis insurance agent
Many drivers just want to get professional advice from a licensed agent. Agents are very good at helping people manage risk and help in the event of a claim. A good thing about comparing rate quotes online is that you can find cheap rate quotes and still have a local agent. And supporting local insurance agents is still important in Indianapolis.
Once you complete this simple form, your insurance coverage information is emailed to companies in Indianapolis who will give you quotes for your business. It's much easier because you don't need to visit any agencies as quotes are delivered to you. If you need to get a comparison quote from a specific insurance provider, just go to their quote page and give them your coverage information.
Not all car insurance agents are the same
If you prefer to buy insurance from a local Indianapolis insurance agency, you need to know there are two different types of agencies and how they function. Insurance policy providers can be classified as either independent or exclusive depending on the company they work for. Either one can handle insurance, but it is a good idea to know the differences since it can affect your agent selection.
Independent Insurance Agencies or Brokers
These agents are not restricted to one company so they can quote policies with multiple insurance companies and find the cheapest rate. If your premiums go up, your agent can just switch to a different company which makes it simple for you.
When searching for an agent, you need to get rate quotes from several independent insurance agents to get the best comparison.
Shown below are independent agencies in Indianapolis who may provide free price quotes.
Affordable Insurance Agency
10 S Mickley Ave - Indianapolis, IN 46241 - (317) 484-9195 - View Map
Exclusive Insurance Agencies
These agents can only provide one company's prices like Farmers Insurance or State Farm. They usually cannot provide prices from multiple companies so if the price isn't competitive there isn't much they can do. They are well schooled on the products they sell which helps them compete with independent agents.
Shown below is a list of exclusive insurance agents in Indianapolis willing to provide price quote information.
Picking the best insurance agent requires you to look at more than just the quoted price. Any good agent in Indianapolis should know the answers to these questions.
- By raising physical damage deductibles, how much would you save?
- How often do they review coverages?
- Does the agent help file claims?
- Do they carry Errors and Omissions coverage?
- How many years of experience in personal auto insurance do they have?
- Will you get a loaner vehicle if you car is being repaired?
- Do the companies they represent have a solid financial rating?
Cheaper car insurance premiums are out there
As you restructure your insurance plan, do not sacrifice coverage to reduce premiums. There have been many cases where an insured cut full coverage and discovered at claim time that the small savings ended up costing them much more. The proper strategy is to buy the best coverage you can find at the lowest possible cost, not the least amount of coverage.
Lower-priced car insurance in Indianapolis is possible from both online companies as well as from independent agents in Indianapolis, and you should compare rates from both to have the best rate selection. Some car insurance companies may not have internet price quotes and usually these regional carriers sell through independent agents.
You just read a lot of ways to lower your Hyundai Genesis insurance premium rates in Indianapolis. The most important thing to understand is the more companies you get prices for, the higher the chance of saving money. Consumers may even find the best premium rates are with some of the lesser-known companies. Smaller companies may often insure only within specific states and give getter rates as compared to the big name companies such as Progressive and GEICO.
For more information, link through to these articles:
- Cellphones, Texting and Driving (iihs.org)
- Who Has Affordable Car Insurance for a Ford Fusion in Indiana? (FAQ)
- How Much are Indiana Car Insurance Quotes for a Ford Explorer? (FAQ)
- Who Has Affordable Indiana Car Insurance for a GMC Sierra? (FAQ)
- Who Has Cheap Auto Insurance for Homeowners in Indiana? (FAQ)
- Who Has the Cheapest Indiana Auto Insurance for Low Mileage Drivers? (FAQ)
- Crash Avoidance Technologies FAQ (iihs.org)
- Insuring a Leased Car (Insurance Information Institute)
- Comprehensive Coverage (Liberty Mutual)