Best Insurance for a Hyundai Genesis in El Paso

It goes without saying that insurance companies don’t want you to compare rates. Insureds who shop for lower prices will probably buy a new policy because there is a high probability of finding a cheaper policy. A recent survey found that consumers who shopped around annually saved approximately $3,450 over four years as compared to drivers who never shopped around for cheaper prices.

If saving money on Hyundai Genesis insurance is the reason you’re reading this, then having some knowledge of how to quote and compare coverages can make the process more efficient.

The best way we recommend to find better pricing on auto insurance rates in El Paso is to annually compare prices from different companies who can sell car insurance in Texas. Drivers can shop around by completing these steps.

Step 1: Gain an understanding of what coverages are included in your policy and the things you can change to keep rates low. Many rating factors that drive up the price such as traffic tickets, fender benders, and an imperfect credit score can be controlled by making minor changes to your lifestyle.

Step 2: Request price quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give rate quotes from one company like Progressive or Farmers Insurance, while independent agents can quote prices from multiple companies. Start a quote

Step 3: Compare the price quotes to your current policy and determine if cheaper Genesis coverage is available. If you find a lower rate quote and decide to switch, make sure coverage is continuous and does not lapse.

Step 4: Give proper notification to your current agent or company to cancel your current auto insurance policy. Submit the completed application along with a down payment to your new insurance company. Once the paperwork is finalized, store the certificate of insurance along with your vehicle registration.

A crucial key to this process is to use identical coverages on every quote request and and to get rates from as many different companies as possible. Doing this provides a fair rate comparison and a complete rate analysis.

Statistics and details

The premium information shown next highlights different prices for Hyundai Genesis models. Learning how prices are calculated helps drivers make informed decisions when shopping around for a new policy.

Cost estimates assume married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Prices do not factor in specific zip code location which can affect premiums greatly.

Higher deductibles lower rates

When buying insurance, a common question is the level to set your comp and collision deductibles. The figures shown below can help you understand the differences in premium rates of buying low and high physical damage coverage deductibles. The first set of rates uses a $250 physical damage coverage deductible and the second set of prices uses a $1,000 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Price estimates do not factor in vehicle garaging location which can revise prices substantially.

Based on this data, using a $250 deductible will cost in the ballpark of $34 more each month or $408 annually than requesting the higher $1,000 deductible. Because you would be required to pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you normally go more than 22 months between claims, you would probably come out ahead by selecting a higher deductible.

One thing to be aware of is that raising deductibles to get cheaper rates means you will have to pay more when you have a comprehensive or collision claim. That will require access to more funds in the event you need to pay the deductible for vehicle repair.

Hyundai Genesis insurance rates by gender in El Paso

The information below visualizes the comparison of Hyundai Genesis insurance costs for male and female drivers. The rate quotes are based on no claims or driving citations, full coverage, $250 deductibles, marital status is single, and no discounts are applied.

What is the best auto insurance company in Texas?

Picking the best insurance provider can be rather challenging considering how many different companies insure vehicles in Texas. The company ratings listed below may help you analyze which car insurance providers to look at purchasing from.

Top 10 El Paso Car Insurance Companies Overall

1. Travelers
2. USAA
3. Mercury Insurance
4. AAA Insurance
5. Nationwide
6. Allstate
7. State Farm
8. The Hartford
9. Safeco Insurance
10. Progressive

Car insurance coverages and their meanings

Having a good grasp of your car insurance policy helps when choosing which coverages you need and the correct deductibles and limits. The terms used in a policy can be confusing and nobody wants to actually read their policy. These are the normal coverages found on the average car insurance policy.

Comprehensive insurance – This pays for damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive coverage protects against claims like theft, hitting a bird and a tree branch falling on your vehicle. The maximum amount your car insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Med pay and Personal Injury Protection (PIP) – Medical payments and Personal Injury Protection insurance provide coverage for expenses like EMT expenses, dental work, X-ray expenses, chiropractic care and funeral costs. They can be used to fill the gap from your health insurance plan or if you do not have health coverage. They cover both the driver and occupants and will also cover if you are hit as a while walking down the street. Personal injury protection coverage is not an option in every state and gives slightly broader coverage than med pay

Liability – Liability insurance will cover injuries or damage you cause to a person or their property by causing an accident. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have values of 30/60/25 which means 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. Alternatively, you may have one number which is a combined single limit that pays claims from the same limit rather than limiting it on a per person basis.

Liability insurance covers things like repair costs for stationary objects, structural damage and court costs. How much liability coverage do you need? That is your choice, but buy higher limits if possible. Texas requires drivers to carry at least 30/60/25 but you should consider buying more coverage.

The illustration below demonstrates why buying the state minimum limits may not be adequate coverage.

Uninsured/Underinsured Motorist (UM/UIM) – This gives you protection from other motorists when they are uninsured or don’t have enough coverage. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Hyundai Genesis.

Since a lot of drivers only purchase the least amount of liability that is required (30/60/25 in Texas), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage should not be overlooked. Frequently these limits are similar to your liability insurance amounts.

Collision – Collision insurance will pay to fix damage to your Genesis from colliding with another vehicle or an object, but not an animal. You first must pay a deductible then your collision coverage will kick in.

Collision can pay for claims like backing into a parked car, crashing into a ditch, driving through your garage door, damaging your car on a curb and crashing into a building. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Drivers also have the option to increase the deductible on your Genesis to get cheaper collision coverage.

Don’t give up on affordable premiums

We covered some good ideas how to shop for Hyundai Genesis insurance online. The key concept to understand is the more rate quotes you have, the more likely it is that you will get a better rate. You may even be surprised to find that the best price on insurance is with an unexpected company. Regional companies can often insure niche markets at a lower cost than the large multi-state companies such as GEICO and State Farm.

Budget-friendly insurance in El Paso can be purchased on the web as well as from independent agents in El Paso, so you should compare both to get a complete price analysis. Some insurance companies do not provide online quoting and these regional carriers only sell coverage through independent agents.

For more information, feel free to visit the articles below:

• Think You’re a Safe Driver? (State Farm)
• Booster Seat Ratings (iihs.org)
• New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)
• Understanding Car Crashes Video (iihs.org)
• Prepare your Teens for Safe Driving (InsureUonline.org)