No one in their right mind cherishes buying car insurance, especially when they are paying too much.
Companies like Progressive, State Farm and GEICO constantly blast consumers with ads and consumers find it hard to not get sucked in by the cute commercials and find the best price available.
It’s important to compare rates once or twice a year because prices go up and down regularly. If you had the lowest price on Genesis coverage a year ago there is a good chance you can find better rates now. So forget all the misinformation about car insurance because we’re going to show you the right way to remove unneeded coverages and save money.
Are you getting all your discounts?
Car insurance companies don’t always list every available discount in an easy-to-find place, so we took the time to find some of the more common and also the lesser-known savings tricks you should be using.
- Service Members Pay Less – Being on active duty in the military could mean lower rates.
- Accident Forgiveness – A handful of insurance companies allow you one accident without raising rates if you are claim-free for a certain period of time.
- Multi-policy Discount – When you have multiple policies with the same insurance company you may save approximately 10% to 15%.
- More Vehicles More Savings – Having multiple cars or trucks on one policy qualifies for this discount.
- Anti-lock Brake Discount – Vehicles with anti-lock braking systems can reduce accidents and will save you 10% or more.
- Defensive Driver – Taking part in a driver safety course could possibly earn you a 5% discount if you qualify.
- Seat Belt Usage – Buckling up and requiring all passengers to wear their seat belts could save 15% off the personal injury premium cost.
- Anti-theft Discount – Cars that have factory anti-theft systems help deter theft and earn discounts up to 10%.
It’s important to note that most of the big mark downs will not be given to all coverage premiums. The majority will only reduce individual premiums such as collision or personal injury protection. Even though it may seem like all the discounts add up to a free policy, you won’t be that lucky.
For a list of insurance companies offering car insurance discounts, click here to view.
When might I need the advice of an agent?
When it comes to buying adequate coverage for your vehicles, there really is not a single plan that fits everyone. Every situation is different and a cookie cutter policy won’t apply. These are some specific questions may help highlight whether you could use an agent’s help.
- Am I covered when driving someone else’s vehicle?
- Do I need added coverage for expensive stereo equipment?
- Am I covered when pulling a rental trailer?
- Is my vehicle covered by my employer’s policy when using it for work?
- How can I get high-risk coverage after a DUI?
- When does my teenage driver need to be added to my policy?
- Is business equipment covered while in my vehicle?
If you don’t know the answers to these questions but a few of them apply, you may need to chat with a licensed insurance agent. To find an agent in your area, fill out this quick form or you can go here for a list of companies in your area.
Neighborhood insurance agents
Some people would rather buy from a local agent. One of the great benefits of price shopping on the web is you can get lower rates and still choose a local agent.
Upon completion of this simple form, the coverage information is immediately sent to companies who will give you bids for your coverage. There is no reason to drive around due to the fact that quote results will go immediately to your email address. Get lower rates and a licensed agent to work with.
Selecting an insurance company needs to be determined by more than just a cheap price. Some important questions to ask are:
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Can glass repairs be made at your home?
- How long has their agency been open?
- Do the coverages you’re quoting properly cover your vehicle?
- Who is covered by the car insurance policy?
- Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?
- Does the agency have a good rating with the Better Business Bureau?
If you want to view a list of agents in your state to contact, visit this site.
Upon receiving positive feedback to your questions and a good coverage price, you have narrowed it down to a company that is a good match to service your policy. Keep in mind once you purchase a policy you can cancel coverage at any point so don’t feel you’re contractually obligated to the car insurance policy for the entire policy term.
Coverage specifics
Understanding the coverages of a car insurance policy aids in choosing appropriate coverage at the best deductibles and correct limits. Policy terminology can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find the normal coverages available from car insurance companies.
Uninsured or underinsured coverage – This protects you and your vehicle’s occupants when other motorists either have no liability insurance or not enough. It can pay for hospital bills for your injuries and also any damage incurred to your Hyundai Genesis.
Since a lot of drivers only carry the minimum required liability limits, their limits can quickly be used up. This is the reason having UM/UIM coverage is very important.
Comprehensive protection – This coverage covers damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive coverage pays for claims like damage from getting keyed, damage from a tornado or hurricane, hail damage and damage from flooding. The maximum payout a car insurance company will pay at claim time is the actual cash value, so if the vehicle’s value is low consider removing comprehensive coverage.
Collision coverage – This coverage pays to fix your vehicle from damage resulting from colliding with a stationary object or other vehicle. You first must pay a deductible then your collision coverage will kick in.
Collision can pay for things like backing into a parked car, colliding with another moving vehicle, crashing into a ditch and hitting a mailbox. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. It’s also possible to choose a higher deductible to get cheaper collision coverage.
Medical expense coverage – Medical payments and Personal Injury Protection insurance reimburse you for bills such as chiropractic care, funeral costs, surgery and ambulance fees. They are used in conjunction with a health insurance policy or if there is no health insurance coverage. It covers you and your occupants and will also cover any family member struck as a pedestrian. Personal injury protection coverage is only offered in select states but it provides additional coverages not offered by medical payments coverage
Liability auto insurance – This can cover damages or injuries you inflict on a person or their property in an accident. It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. Your policy might show liability limits of 100/300/100 that means you have a limit of $100,000 per injured person, a per accident bodily injury limit of $300,000, and a total limit of $100,000 for damage to vehicles and property.
Liability coverage pays for things such as court costs, pain and suffering and attorney fees. How much coverage you buy is your choice, but you should buy as large an amount as possible.
Online plus local equals savings
We just covered many ideas to compare Hyundai Genesis insurance prices online. The most important thing to understand is the more companies you get rates for, the higher the chance of saving money. Consumers may even find the biggest savings come from a company that doesn’t do a lot of advertising. Some small companies may often insure only within specific states and give getter rates compared to the large companies like GEICO and State Farm.
When shopping online for car insurance, never skimp on critical coverages to save a buck or two. There have been many cases where consumers will sacrifice uninsured motorist or liability limits to discover at claim time they didn’t have enough coverage. Your aim should be to buy the best coverage you can find for the lowest price while still protecting your assets.
