To save the most money, the best way to find better pricing on car insurance rates is to compare quotes annually from providers who provide auto insurance in Minneapolis. Drivers can shop around by completing these steps.
- Try to learn about how companies price auto insurance and the measures you can take to keep rates down. Many policy risk factors that increase rates like careless driving and an unacceptable credit history can be controlled by making lifestyle changes or driving safer. Continue reading for more details to prevent high prices and find additional discounts.
- Compare prices from direct carriers, independent agents, and exclusive agents. Exclusive and direct companies can only give rate quotes from one company like GEICO or Allstate, while independent agencies can provide rate quotes for a wide range of insurance providers.
- Compare the new rate quotes to your current policy and determine if cheaper Genesis coverage is available in Minneapolis. If you find a lower rate and change companies, make sure there is no coverage gap between policies.
The key aspect of shopping around is to make sure you’re comparing the same physical damage deductibles and liability limits on each quote and and to get quotes from as many different companies as possible. This provides a fair rate comparison and a thorough price selection.
A recent car insurance study discovered that a large majority of drivers have stayed with the same insurance company for a minimum of four years, and roughly 40% of drivers have never even compared quotes to find cheap rates. Consumers in the United States could cut their rates by approximately 47% a year, but they think it’s difficult to compare rates and save money.
There are several ways to obtain and compare prices from lots of Minnesota car insurance companies. The easiest way by far to find the cheapest Hyundai Genesis insurance rates consists of obtaining rate quotes online. Just remember that comparing more prices helps you find a lower rate. Some regional insurers cannot provide online Minneapolis Genesis insurance quotes, so you need to compare rates from them, too.
The companies in the list below can provide quotes in Minnesota. To get the cheapest auto insurance in Minneapolis, MN, we suggest you click on several of them in order to get a fair rate comparison.
Facts and figures for Hyundai Genesis insurance
The premium table displayed below showcases different coverage costs for Hyundai Genesis models. Being able to understand how insurance prices are formulated helps drivers make decisions on which coverage to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Genesis 2.0T 2-Dr Coupe | $212 | $464 | $372 | $22 | $112 | $1,182 | $99 |
| Genesis 3.8 4-Dr Sedan | $238 | $404 | $254 | $14 | $76 | $986 | $82 |
| Genesis 2.0T Premium 2-Dr Coupe | $238 | $464 | $372 | $22 | $112 | $1,208 | $101 |
| Genesis 3.8 2-Dr Coupe | $238 | $464 | $372 | $22 | $112 | $1,208 | $101 |
| Genesis 2.0T Track 2-Dr Coupe | $238 | $464 | $372 | $22 | $112 | $1,208 | $101 |
| Genesis 3.8 Grand Touring 2-Dr Coupe | $238 | $464 | $372 | $22 | $112 | $1,208 | $101 |
| Genesis 4.6 4-Dr Sedan | $238 | $464 | $254 | $14 | $76 | $1,046 | $87 |
| Genesis 3.8 Track 2-Dr Coupe | $238 | $526 | $372 | $22 | $112 | $1,270 | $106 |
| Get Your Own Custom Quote Go | |||||||
Price data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Minnesota minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, claim-free, and homeowner. Rate information does not factor in vehicle location which can raise or lower coverage prices noticeably.
An analysis of deductible level
When comparing car insurance rates, the most common question is how low should you set your deductibles. The following tables can help you visualize the premium difference when you select higher and lower coverage deductibles. The first set of rates uses a $100 physical damage deductible and the second price table uses a $500 deductible.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Genesis 2.0T 2-Dr Coupe | $308 | $668 | $396 | $24 | $118 | $1,539 | $128 |
| Genesis 3.8 4-Dr Sedan | $344 | $580 | $270 | $16 | $80 | $1,315 | $110 |
| Genesis 2.0T Premium 2-Dr Coupe | $344 | $668 | $396 | $24 | $118 | $1,575 | $131 |
| Genesis 3.8 2-Dr Coupe | $344 | $668 | $396 | $24 | $118 | $1,575 | $131 |
| Genesis 2.0T Track 2-Dr Coupe | $344 | $668 | $396 | $24 | $118 | $1,575 | $131 |
| Genesis 3.8 Grand Touring 2-Dr Coupe | $344 | $668 | $396 | $24 | $118 | $1,575 | $131 |
| Genesis 4.6 4-Dr Sedan | $344 | $668 | $270 | $16 | $80 | $1,403 | $117 |
| Genesis 3.8 Track 2-Dr Coupe | $344 | $756 | $396 | $24 | $118 | $1,663 | $139 |
| Get Your Own Custom Quote Go | |||||||
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Genesis 2.0T 2-Dr Coupe | $224 | $452 | $396 | $24 | $118 | $1,214 | $101 |
| Genesis 3.8 4-Dr Sedan | $250 | $392 | $270 | $16 | $80 | $1,008 | $84 |
| Genesis 2.0T Premium 2-Dr Coupe | $250 | $452 | $396 | $24 | $118 | $1,240 | $103 |
| Genesis 3.8 2-Dr Coupe | $250 | $452 | $396 | $24 | $118 | $1,240 | $103 |
| Genesis 2.0T Track 2-Dr Coupe | $250 | $452 | $396 | $24 | $118 | $1,240 | $103 |
| Genesis 3.8 Grand Touring 2-Dr Coupe | $250 | $452 | $396 | $24 | $118 | $1,240 | $103 |
| Genesis 4.6 4-Dr Sedan | $250 | $452 | $270 | $16 | $80 | $1,068 | $89 |
| Genesis 3.8 Track 2-Dr Coupe | $250 | $512 | $396 | $24 | $118 | $1,300 | $108 |
| Get Your Own Custom Quote Go | |||||||
Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Minnesota minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Rate information does not factor in zip code location which can revise coverage prices greatly.
We can derive from the above data that using a $100 deductible costs about $28 more each month or $336 every year than buying the higher $500 deductible. Due to the fact that you would have to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you tend to go at a minimum 14 months between claim filings, you would come out ahead if you decide on a higher deductible.
The example below demonstrates how deductibles and can affect Hyundai Genesis insurance costs for each age group. The data assumes a single male driver, comprehensive and collision coverage, and no policy discounts are applied.
Comparison of car insurance rates by gender
The example below shows the comparison of Hyundai Genesis yearly insurance costs for male and female drivers. The premiums are based on no violations or accidents, full coverage, $250 deductibles, marital status is single, and no discounts are applied.
How much more does full coverage cost in Minneapolis?
The diagram below shows the difference between Hyundai Genesis car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The prices are based on a clean driving record, no claims, $100 deductibles, drivers are single, and no discounts are applied to the premium.
Are you wasting money on full coverage?
There is no exact formula to stop paying for physical damage coverage, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then it could be time to drop full coverage.
For example, let’s say your Hyundai Genesis claim settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $8,000 after paying your deductible. If premium cost is more than $800 annually to have full coverage, then it may be the right time to buy liability only.
There are a few situations where dropping physical damage coverage is not financially feasible. If you still have a lienholder on your title, you have to keep full coverage as part of the loan conditions. Also, if you don’t have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Earn discounts to get lower-cost Minneapolis insurance quotes
Insurance can be pricey, but there could be significant discounts to help offset the cost. Certain discounts will be triggered automatically at the time you complete a quote, but some must be manually applied in order for you to get them. If you’re not getting every credit possible, you could be getting lower rates.
- Telematics Devices – Insureds who allow driving data collection to track their driving habits by using a telematics device in their vehicle such as Progressive’s Snapshot could possibly reduce rates if they show good driving skills.
- Accident Free – Drivers with accident-free driving histories have much lower rates in comparison with bad drivers.
- Defensive Driver Discounts – Taking a defensive driver course is a good idea and can lower rates and easily pay for the cost of the class.
- Auto/Life Discount – Some insurance companies give lower premium rates if you buy some life insurance too.
- Multiple Vehicles – Having all your vehicles with the same insurance company can reduce the rates for all insured vehicles.
- Passive Restraint Discount – Options like air bags can get savings of 25 to 30%.
- Discounts for Government Workers – Employees or retirees of the government can earn a discount up to 10% depending on your insurance provider.
- Membership in Organizations – Being a member of a civic or occupational organization in Minneapolis could trigger savings on your bill.
Don’t be shocked that most credits do not apply to the whole policy. Most cut individual premiums such as collision or personal injury protection. Just because you may think adding up those discounts means a free policy, it just doesn’t work that way.
The example below illustrates the difference between Hyundai Genesis car insurance costs with and without discounts applied to the rates. The premiums are based on a male driver, a clean driving record, no claims, Minnesota state minimum liability limits, full physical damage coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-policy, claim-free, marriage, safe-driver, and multi-car discounts applied.
Companies and a summarized list of policyholder discounts are:
- Progressive has discounts for multi-policy, continuous coverage, online quote discount, homeowner, good student, online signing, and multi-vehicle.
- GEICO policyholders can earn discounts including federal employee, driver training, multi-policy, good student, and membership and employees.
- State Farm includes discounts for good student, defensive driving training, student away at school, multiple policy, multiple autos, and anti-theft.
- Esurance may offer discounts for DriveSense, claim free, anti-lock brakes, Pac-12 alumni, online shopper, good student, and paid-in-full.
- The Hartford offers premium reductions for vehicle fuel type, bundle, good student, air bag, and defensive driver.
If you need lower rates, check with every company how many discounts you can get. Some discounts listed above may not be available in your area. To see insurance companies that can offer you the previously mentioned discounts in Minnesota, follow this link.
Why you need insurance for your Hyundai Genesis
Even though it can be expensive, auto insurance may be mandatory for several reasons.
First, almost all states have mandatory insurance requirements which means you are required to carry a specific minimum amount of liability coverage if you want to drive legally. In Minnesota these limits are 30/60/10 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you have a loan on your car, it’s guaranteed your bank will make it a condition of the loan that you have physical damage coverage to ensure the loan is repaid in case of a total loss. If coverage lapses or is canceled, the bank may buy a policy for your Hyundai for a lot more money and require you to fork over much more than you were paying before.
Third, insurance safeguards both your Hyundai and your assets. Insurance will also pay for many types of medical costs for yourself as well as anyone injured by you. Liability coverage, the one required by state law, also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and collision coverage will pay all costs to repair after the deductible has been paid.
The benefits of buying auto insurance outweigh the cost, particularly when you have a large claim. The average driver in America is currently overpaying as much as $820 a year so you should quote rates at least once a year to ensure rates are inline.
Your insurance coverage should be tailored to you
Always keep in mind that when comparing the best insurance coverage, there isn’t really a cookie cutter policy. You are unique.
For instance, these questions could help you determine whether or not you may require specific advice.
- When should I buy a commercial auto policy?
- Am I covered by my employer’s commercial auto policy when driving my personal car for business?
- Does low annual mileage earn a discount?
- What is glass protection for?
- Do I have coverage if my license is suspended?
- Can I rate high risk drivers on liability-only vehicles?
- Are my company tools covered if they get stolen?
- Can good grades get a discount?
- What states are considered no-fault?
If you can’t answer these questions, you might consider talking to an insurance agent. To find an agent in your area, fill out this quick form.
Buying from insurance agencies
Many drivers prefer to sit down and talk to an agent and that is recommended in a lot of cases The best thing about comparing rates online is that you can obtain cheap insurance rates but still work with a licensed agent.
After filling out this short form, your insurance data is submitted to local insurance agents that can give you free Minneapolis auto insurance quotes to get your business. There is no reason to search for an agent since rate quotes are delivered immediately to you. You can find better rates AND a local agent. If you need to compare rates from a specific insurance company, you can always go to their quote page and complete a quote there.
Finding the right insurance company is decision based upon more than just a cheap price. Here are some questions you should ask.
- What insurance companies do they work with in Minneapolis?
- Does the company have a solid financial rating?
- Do they have 24-hour customer assistance?
- Does the quote include credit and driving reports?
- Do clients work directly with the agent or are most inquiries handled by a CSR?
- Do the agents have professional certifications like CPCU or CIC?
Types of auto insurance agents in Minneapolis
If you would like to find an insurance agent, it helps to know the two types of insurance agents that you can choose from. Insurance agents are categorized either exclusive or independent.
Exclusive Agents
Exclusive agents write business for a single company and examples are State Farm, Allstate, and Farm Bureau. Exclusive agencies are unable to provide rate quotes from other companies so you might not find the best rates. Exclusive agents are highly trained on the products they sell which helps them sell insurance even at higher premiums. Some people will only choose to use a exclusive agent mainly due to the prominent brand name and solid financial strength.
Listed below is a short list of exclusive insurance agencies in Minneapolis who can help you get price quote information.
- American Family Insurance – Patrick Fagerlee Agency Inc
3910 Central Ave NE – Minneapolis, MN 55421 – (763) 789-6201 – View Map - Nathan Dao – State Farm Insurance Agent
220 South 6th St #180 – Minneapolis, MN 55402 – (612) 338-6422 – View Map - AAA Minneapolis Insurance
5400 Auto Club Way – Minneapolis, MN 55416 – (952) 927-2518 – View Map
Independent Agents
Agents in the independent channel are not locked into one company so they have the ability to put coverage through many companies depending on which coverage is best. To transfer your coverage to a different company, the business is moved internally and you won’t have to switch agencies. When searching for an agent, you absolutely need to get some free quotes from a couple of independent agencies to have the best price comparison. Most also have access to small regional insurance companies that may have much lower rates than larger companies.
Shown below is a short list of independent insurance agents in Minneapolis that are able to give rate quotes.
- Moreno Agency – Innovative Insurance
4748 Chicago Ave #2 – Minneapolis, MN 55407 – (612) 584-0077 – View Map - Alisho Dependable Ins. Agency
1929 S 5th St #104 – Minneapolis, MN 55454 – (612) 354-2576 – View Map - Oakwood Insurance Inc
5188 Central Ave NE – Minneapolis, MN 55421 – (763) 862-4800 – View Map