2014 Hyundai Genesis Insurance Rates – 7 Ways to Save

Searching for lower insurance coverage rates for your Hyundai Genesis? Have you fallen victim to high-priced insurance coverage? Believe me when I say you’re not the only one. Many auto insurance companies compete to insure your vehicles, and it can be difficult to compare rates and get the best coverage at the best rate

Consumers should take time to compare rates every six months since insurance rates change quite often. Even if you think you had the best deal for Genesis coverage a few years ago there is a good chance you can find better rates now. Don’t believe everything you read about insurance coverage online, so we’re going to give you some good information on how to find affordable insurance coverage.

If you are insured now or need a new policy, you will benefit by learning to cut your premiums and still get good coverage. Finding the best rates is not rocket science. Vehicle owners just need to learn the tricks to buy insurance coverage over the internet.

Don’t overlook these seven discounts

Car insurance companies don’t list all their discounts very well, so the following is a list of both the well known and the harder-to-find insurance coverage savings. If you don’t get every credit you qualify for, you’re paying more than you need to.

  • Military Rewards – Being deployed with a military unit may qualify for rate reductions.
  • Senior Citizens – Mature drivers can possibly qualify for a discount up to 10% for Genesis coverage.
  • Safe Drivers – Drivers who avoid accidents may save up to 50% more for Genesis coverage than drivers with accidents.
  • Drivers Education – Require your teen driver to complete a driver education course in school.
  • Homeowners Savings – Owning a home may earn you a small savings due to the fact that maintaining a home shows financial diligence.
  • Seat Belts Save – Using a seat belt and requiring all passengers to wear their seat belts could cut 10% or more off the personal injury premium cost.
  • Multiple Policy Discount – When you have multiple policies with the same company you will save up to 20% off your total premium.

A little note about advertised discounts, most credits do not apply to the entire policy premium. Most cut the cost of specific coverages such as physical damage coverage or medical payments. So despite the fact that it appears you would end up receiving a 100% discount, companies don’t profit that way.

Insurance companies that may offer these benefits may include but are not limited to:

Double check with each company which discounts you may be entitled to. All car insurance discounts might not be offered everywhere.

Is my situation unique?

When it comes to buying the right insurance coverage for your vehicles, there really is not a one size fits all plan. Everyone’s needs are different so your insurance needs to address that. These are some specific questions can help discover whether your personal situation will benefit from professional help.

  • Is a new car covered when I drive it off the dealer lot?
  • Is a fancy paint job covered?
  • What is covered by UM/UIM coverage?
  • Who is covered by my policy?
  • Is extra glass coverage worth it?
  • Do I have coverage when pulling a U-Haul trailer?

If it’s difficult to answer those questions, you might consider talking to a licensed insurance agent. If you don’t have a local agent, take a second and complete this form or you can go here for a list of companies in your area. It’s fast, free and can provide invaluable advice.

Switch companies and save? Really?

Drivers can’t ignore all the ads for car insurance savings from the likes of Progressive, Allstate and Geico. All the ads say the same thing about savings if you move your coverage to them.

How do they all say the same thing? It’s all in the numbers.

Insurance companies can use profiling for the driver they prefer to insure. A good example of a preferred risk might be between the ages of 30 and 50, has no driving citations, and has a high credit rating. A customer who matches those parameters will get the preferred rates and most likely will save when switching.

Potential customers who do not match the requirements will have to pay higher rates which usually ends up with the customer not buying. The ad wording is “customers who switch” not “everybody who quotes” save that kind of money. This is how companies can make those claims. Because of the profiling, you need to get quotes from several different companies. It is impossible to predict the company that will have the lowest Hyundai Genesis insurance rates.

Auto insurance policy coverages for a 2014 Hyundai Genesis

Knowing the specifics of your auto insurance policy can be of help when determining the best coverages at the best deductibles and correct limits. Auto insurance terms can be impossible to understand and reading a policy is terribly boring. Listed below are typical coverages found on the average auto insurance policy.

Comprehensive coverages – This covers damage that is not covered by collision coverage. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as rock chips in glass, a broken windshield and fire damage. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if your deductible is as high as the vehicle’s value it’s not worth carrying full coverage.

Coverage for liability – This coverage will cover damages or injuries you inflict on a person or their property by causing an accident. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You commonly see values of 25/50/25 that translate to a limit of $25,000 per injured person, a total of $50,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged propery.

Liability insurance covers things such as repair bills for other people’s vehicles, structural damage, funeral expenses and court costs. How much liability coverage do you need? That is a personal decision, but consider buying as large an amount as possible.

Collision coverage – This pays for damage to your Genesis resulting from colliding with another car or object. A deductible applies and then insurance will cover the remainder.

Collision can pay for claims such as rolling your car, colliding with a tree and sustaining damage from a pot hole. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are 8 years or older. It’s also possible to increase the deductible to get cheaper collision coverage.

Uninsured and underinsured coverage – Uninsured or Underinsured Motorist coverage provides protection from other motorists when they either have no liability insurance or not enough. This coverage pays for injuries to you and your family and also any damage incurred to your 2014 Hyundai Genesis.

Due to the fact that many drivers carry very low liability coverage limits, their liability coverage can quickly be exhausted. That’s why carrying high Uninsured/Underinsured Motorist coverage is very important.

Coverage for medical payments – Coverage for medical payments and/or PIP reimburse you for immediate expenses such as rehabilitation expenses, dental work and nursing services. They can be used to fill the gap from your health insurance policy or if you are not covered by health insurance. It covers both the driver and occupants and will also cover getting struck while a pedestrian. Personal injury protection coverage is not universally available and may carry a deductible

Pennies from heaven

You just learned a lot of information how to shop for 2014 Hyundai Genesis insurance online. The key concept to understand is the more times you quote, the more likely it is that you will get a better rate. Drivers may discover the lowest premiums are with a smaller regional carrier. These smaller insurers may cover specific market segments cheaper than the large multi-state companies such as Progressive and Geico.

While you’re price shopping online, it’s not a good idea to buy less coverage just to save a little money. There have been many cases where someone dropped liability limits or collision coverage only to discover later that saving that couple of dollars actually costed them tens of thousands. The proper strategy is to purchase a proper amount of coverage at the best price while not skimping on critical coverages.

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