Who Has Cheap Minneapolis Auto Insurance for a Hyundai Sonata?

Buying competitive coverage for a Hyundai Sonata in Minnesota hinges on lots of different rating factors such as whether you are married, if you are a frequent claim filer, and any past driving violations you may have had. Minnesota drivers will pay on average $1,125 annually to insure their Sonata, but that cost is a valuation based upon a 40-year-old married female driver with full coverage and $100 deductibles.

When estimating a car insurance rate like we just did, the issue is that you are not 40 years old and maybe not even female, possibly single instead of married, and you need different coverage limits than the sample rates. This example demonstrates why the only real way to find cheap auto insurance rates for your Hyundai is to do a thorough rate comparison.

Compare Hyundai Sonata Insurance Rates

Your Hyundai’s trim level impacts the insurance rate, so the price you pay to insure a Sonata GLS 4-Dr Sedan trim level will be $116 less than the cost to insure the more costly Sonata Limited 4-Dr Sedan version, as shown in the table below.

Prices above based on married female driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Minnesota minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, claim-free, and multi-policy. Rate quotes do not factor in vehicle garaging location which can modify auto insurance rates considerably.

Finding good, budget insurance is challenging, and figuring out which company quotes the cheapest insurance rates for a Hyundai Sonata requires even more perseverance. Each auto insurer uses different criteria for determining rates in each state, so let’s begin by examining the insurance companies that tend to have lower prices in Minneapolis.

It’s a good idea to know that Minnesota insurance rates are calculated based on many things that control the price you have to pay. Things like having a birthday, having a teenage driver, or getting a ticket for running a stop sign can cause premium changes resulting in some rates now being more expensive than others.

Best Car Insurance Prices for Your Sonata

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Travelers has some of the lowest car insurance rates in Minneapolis at around $661 per year. USAA, Farm Bureau Mutual, Western National, and The Hartford also rank well as some of the cheapest Minneapolis, MN insurance companies.

In the above rates, if you buy coverage from Farm Bureau Mutual and switched to Travelers, you might see an annual savings of in the vicinity of $144. Drivers with Western National could save as much as $267 a year, and The Hartford insureds might realize rate reductions of up to $275 a year.

To find the cheapest rates for your vehicle, click here to start your custom quote or visit any of the low-priced companies below.

Bear in mind that those estimates are averaged across all types of insureds and vehicles and are not factoring in a specific zip code for a Hyundai Sonata. So the auto insurance company that has the cheapest price for you may not even be in the top 24 companies in the list above. That point stresses why you need to get quotes using your own specific driver information and vehicle.

The example below illustrates how choosing a deductible can affect premium costs when quoting cheap insurance for a Hyundai Sonata. The premiums are based on a single male driver, full coverage, and no discounts are factored in.

The data above shows that a 40-year-old driver could lower their policy premium by $354 a year by switching the physical damage coverage from a $100 deductible up to a $500 deductible, or save $530 by switching to a $1,000 deductible. Even younger insureds, like the Age 20 chart data, could potentially save up to $1,176 every year just by using higher deductibles.

When increasing deductibles, it will be necessary to have emergency funds available to pay the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

Difference between full coverage and liability only rates

Paying less for insurance is important to most vehicle owners, and a good way to pay lower rates for insurance for a Hyundai Sonata is to not insure for full coverage. The example below illustrates the comparison of insurance rates with full physical damage coverage compared to only buying liability only. Data assumes no claims, a clean driving record, $1,000 deductibles, single status, and no discounts are applied to the premium.

As an overall average, physical damage coverage on your policy costs $1,778 per year over and above liability only. Lot’s of drivers question if paying for full coverage is a waste of money. There isn’t a written rule to stop paying for comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is 10% or more of the vehicle’s replacement cost less your deductible, then you might want to think about dropping full coverage.

For example, let’s pretend your vehicle’s settlement value is $9,500 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $8,500 after you pay the deductible. If you are currently paying more than $850 a year for full coverage, then you may need to consider dropping full coverage.

There are some scenarios where only buying liability is not financially feasible. If you have an outstanding loan on your vehicle, you have to maintain full coverage to protect the lienholder’s interest. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not remove full coverage.

How to get discounts on Minneapolis auto insurance rates

Car insurance companies that offer quotes for a Hyundai Sonata may also provide rate discounts that can reduce rates by as much as 30% if you meet eligibility requirements. Companies and a selection of discounts can be found below.

• AAA includes discounts for anti-theft, education and occupation, good driver, multi-car, multi-policy, and AAA membership discount.
• Progressive has savings for continuous coverage, homeowner, multi-policy, multi-vehicle, online quote discount, online signing, and good student.
• State Farm may have discounts that include defensive driving training, passive restraint, multiple policy, good student, safe vehicle, and anti-theft.
• Esurance offers premium reductions for Pac-12 alumni, homeowner, claim free, multi-policy, anti-lock brakes, DriveSense, and online shopper.
• Nationwide policyholders can earn discounts including multi-policy, good student, anti-theft, accident-free, and business or organization.

The information below compares insurance premiums with and without discounts being applied to the rates. The rates are based on a male driver, no driving violations, no at-fault accidents, Minnesota state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with defensive driving course, passive restraint, multiple policy, multiple vehicle, homeowner, and vehicle safety discounts applied. When drivers qualify for the discounts, the average amount saved each year on insurance for a Hyundai Sonata is 28% or $626.