Cheapest Insurance for a Hyundai Elantra in Minneapolis

Are you sick of overpaying and want lower-priced Hyundai Elantra insurance in Minneapolis? Locating the cheapest insurance for a Hyundai Elantra in Minnesota can normally be difficult, but you can use the following methods and make it easy. There is a better way to find auto insurance online so you’re going to learn the best way to price shop coverage on a Hyundai and obtain the best price possible from Minneapolis insurance agents and online providers.

Reducing your insurance rates is actually quite simple. All you need to do is take a few minutes comparing price quotes online with multiple companies.

The providers in the list below provide price comparisons in Minnesota. To get cheaper car insurance in Minnesota, we suggest you click on several of them to get a more complete price comparison.

Facts and figures for Hyundai Elantra insurance

The price information displayed next covers different insurance premium costs for Hyundai Elantra models. Understanding how insurance prices are formulated is important for you to make smart choices when selecting a coverage provider.

Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Minnesota minimum liability limits. Discounts applied include homeowner, multi-policy, safe-driver, claim-free, and multi-vehicle. Information does not factor in vehicle location which can lower or raise coverage rates noticeably.

Analysis of deductible levels

One of the most common auto insurance questions is how high or low should comp and collision deductibles be. The data tables below summarize how much more rates are when you choose different insurance deductibles. The first data set uses a $250 deductible and the second pricing table uses a $500 deductible.

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

Using the data above, we can ascertain that using a $250 deductible will cost you approximately $13 more each month or $156 every year than choosing the higher $500 deductible. Because you would be required to pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you have more than 19 months between claim filings, you would save more money if you opt for a higher deductible.

The diagram below demonstrates how deductible levels and can influence Hyundai Elantra insurance rates for each age group. The prices are based on a single female driver, full physical damage coverage, and no policy discounts are applied.

Responsible drivers pay cheaper Minneapolis auto insurance rates

The illustration below demonstrates how traffic citations and accidents impact Hyundai Elantra annual premium costs for each age group. The price estimates are based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no other discounts are factored in.

Difference between liability only and full coverage rates

The information below shows the comparison of Hyundai Elantra insurance costs when comparing full coverage to state minimum liability only. The premiums assume a clean driving record, no claims, $1,000 deductibles, marital status is single, and no discounts are applied.

Are you wasting money on full coverage?

There is no definitive guideline for excluding physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is about 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

For example, let’s assume your Hyundai Elantra book value is $6,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would receive is $5,000 after paying your policy deductible. If premiums are more than $500 a year to have full coverage, then it’s probably a good time to buy liability coverage only.

There are some circumstances where buying only liability insurance is not recommended. If you haven’t paid off your loan, you are required to maintain full coverage as part of the loan requirements. Also, if your savings is not enough to buy a different vehicle in the event your current vehicle is totaled, you should not eliminate full coverage.

Insurance is not optional in Minnesota

Even though it’s not necessarily cheap to insure a Hyundai in Minneapolis, paying for insurance is required in Minnesota but it also protects you in many ways.

• The majority of states have compulsory liability insurance requirements which means it is punishable by state law to not carry a specific minimum amount of liability insurance in order to get the vehicle licensed. 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.
• If you have a lien on your Hyundai, most banks will require you to have insurance to ensure loan repayment if the vehicle is totaled. If you default on your policy, the lender may have to buy a policy to insure your Hyundai at a much higher premium rate and force you to pay for it.
• Insurance protects not only your vehicle but also your assets. It will also pay for hospital and medical expenses for not only you but also any passengers injured in an accident. One of the most valuable coverages, liability insurance, also covers legal expenses if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will pay to restore your vehicle to like-new condition.

The benefits of buying enough insurance are definitely more than the cost, especially with large liability claims. According to a 2015 survey, the average American driver is overpaying more than $825 a year so you should quote rates each time the policy renews to make sure the price is not too high.

Do you qualify for these five discounts?

Car insurance companies do not list every possible discount very well, so the below list has both well-publicized as well as some of the hidden credits available to you.

• Pay Upfront and Save – By paying your policy upfront rather than paying in monthly installments you can avoid the installment charge.
• Discount for Passive Restraints – Options like air bags and/or automatic seat belt systems may get savings as much as 30%.
• Low Mileage Discounts – Keeping the miles down on your Hyundai could earn lower premium rates due to less chance of an accident.
• Active Military Service – Being on active duty in the military could be rewarded with lower rates.
• Minneapolis Homeowners Pay Less – Being a homeowner can save you money since home ownership is proof of financial responsibility.

Don’t be shocked that some credits don’t apply to the entire policy premium. Most only reduce specific coverage prices like liability, collision or medical payments. Even though the math looks like all the discounts add up to a free policy, companies don’t profit that way. Any qualifying discounts should help reduce the cost of coverage.

The example below shows the difference between Hyundai Elantra premium costs with and without discounts applied to the premium. The premiums are based on a female driver, no violations or claims, Minnesota state minimum liability limits, comprehensive and collision coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, marriage, multi-policy, homeowner, and claim-free discounts applied.

A few of the larger companies and a partial list of their discounts are:

• State Farm offers discounts including driver’s education, accident-free, passive restraint, Steer Clear safe driver discount, and safe vehicle.
• Liberty Mutual policyholders can earn discounts including hybrid vehicle, exclusive group savings, new vehicle discount, good student, new graduate, teen driver discount, and newly married.
• American Family discounts include TimeAway discount, good student, bundled insurance, defensive driver, early bird, and mySafetyValet.
• Progressive offers premium reductions for online signing, good student, multi-vehicle, multi-policy, online quote discount, and homeowner.
• Farmers Insurance has discounts for business and professional, homeowner, early shopping, distant student, and electronic funds transfer.
• Auto-Owners Insurance may offer discounts for good student, safe vehicle, safe driver, multiple vehicles, and anti-theft.
• SAFECO includes discounts for teen safety rewards, safe driver, multi-car, accident prevention training, bundle discounts, and anti-theft.

When getting free Minneapolis car insurance quotes, it’s a good idea to every prospective company how you can save money. A few discounts may not apply to policyholders in your state.

Shop online but buy locally

Many people prefer to buy from a local agent and we recommend doing that Insurance agents are highly skilled in risk management and help in the event of a claim. One of the great benefits of price shopping on the web is you can get the best rates but still work with a licensed agent.

To make it easy to find an agent, after completing this quick form, the coverage information is sent to insurance agents in Minneapolis that provide free Minneapolis car insurance quotes for your coverage. It simplifies rate comparisons since you won’t have to contact any insurance agencies as quotes are delivered to you directly. In the event you want to compare prices from a specific insurance company, you can always jump over to their website and fill out their quote form.

Picking the best company requires more thought than just a cheap quote. Here are some questions you should ask.

• When do they do a full risk review?
• If you have an accident, will your rates go up?
• If independent agents, which companies do they recommend?
• How much experience to they have in personal lines coverages?
• Do they get extra compensation for selling add-on coverages?

Pick the best auto insurance agent in Minneapolis for you

When narrowing the list to find a reliable agent, you must know there are a couple different types of agencies from which to choose. Minneapolis agents may be either independent or exclusive depending on the company they work for. Either one can write policy coverage, but it is important to understand how they differ because it may have an impact on the kind of agent you use.

Exclusive Car Insurance Agents

Agents in the exclusive channel generally can only insure with one company and examples are Allstate, State Farm and Farmers Insurance. Exclusive agents are unable to provide other company’s prices so they really need to provide good service. These agents are usually quite knowledgeable in insurance sales which helps them sell on service rather than price. Consumers sometimes buy insurance from these agents partially due to the prominence of the brand and the convenience of having a single billing for all their coverages.

Below is a short list of exclusive insurance agencies in Minneapolis that are able to give price quote information.

• Allstate Insurance: Lois A. Castaneda
  127 W Grant St, # C – Minneapolis, MN 55403 – (612) 871-6830 – View Map
• Kim Nybo – State Farm Insurance Agent
  2724 University Ave SE – Minneapolis, MN 55414 – (612) 767-7775 – View Map
• Jeff Meyer – State Farm Insurance Agent
  4316 S Upton Ave – Minneapolis, MN 55410 – (612) 920-2340 – View Map

More insurance agents

Independent Agencies or Brokers

Independent agencies do not sell for just one brand so they can insure your vehicles through many different car insurance companies and find the cheapest rate. If prices rise, they simply switch companies in-house and you don’t have to do anything. When comparing rates, we recommend you get some free quotes from at least one independent agent in order to have the best price comparison. Many write coverage with small regional insurance companies that may have much lower rates than larger companies.

The following is a list of independent agencies in Minneapolis that can give you price quotes.

• Shamrock Agencies
  1 Groveland Terrace #102 – Minneapolis, MN 55403 – (952) 474-0929 – View Map
• Moreno Agency – Innovative Insurance
  4748 Chicago Ave #2 – Minneapolis, MN 55407 – (612) 584-0077 – View Map
• Landreau Insurance Group Inc
  2615 E Franklin Ave – Minneapolis, MN 55406 – (612) 276-7035 – View Map

More insurance agents

After receiving positive feedback to all your questions as well as an affordable premium quote, you may have found an insurance agency that meets the criteria to properly insure your vehicles. Just be aware that you are entitled to cancel your coverage whenever you wish so never feel that you are permanently stuck with your new company for any length of time.

Specific coverages for a Hyundai Elantra

Knowing the specifics of a insurance policy helps when choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be confusing and nobody wants to actually read their policy.

UM/UIM Coverage – Uninsured or Underinsured Motorist coverage protects you and your vehicle’s occupants from other motorists when they either are underinsured or have no liability coverage at all. It can pay for injuries sustained by your vehicle’s occupants and damage to your Hyundai Elantra.

Since a lot of drivers only carry the minimum required liability limits (Minnesota limits are 30/60/10), their limits can quickly be used up. For this reason, having high UM/UIM coverages is a good idea.

Medical costs insurance – Med pay and PIP coverage pay for expenses for things like EMT expenses, pain medications, dental work, rehabilitation expenses and funeral costs. They are often used in conjunction with a health insurance policy or if you are not covered by health insurance. Medical payments and PIP cover both the driver and occupants and will also cover being hit by a car walking across the street. PIP coverage is only offered in select states but can be used in place of medical payments coverage

Auto liability – Liability insurance can cover damages or injuries you inflict on other’s property or people that is your fault. 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. As an example, you may have limits of 30/60/10 that translate to $30,000 bodily injury coverage, a total of $60,000 of bodily injury coverage per accident, and property damage coverage for $10,000.

Liability insurance covers things like loss of income, emergency aid, medical services, medical expenses and bail bonds. How much coverage you buy is up to you, but you should buy as high a limit as you can afford. Minnesota requires minimum liability limits of 30/60/10 but you should consider buying more coverage.

The illustration below demonstrates why buying low liability limits may not be adequate coverage.

Collision coverage – This pays to fix your vehicle from damage from colliding with another vehicle or an object, but not an animal. You first must pay a deductible and then insurance will cover the remainder.

Collision coverage pays for things like colliding with another moving vehicle, backing into a parked car, hitting a parking meter, crashing into a building and colliding with a tree. Paying for collision coverage can be pricey, so you might think about dropping it from vehicles that are older. Drivers also have the option to choose a higher deductible on your Elantra in order to get cheaper collision rates.

Comprehensive or Other Than Collision – Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first must pay your deductible and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive coverage pays for things such as hitting a deer, a broken windshield, a tree branch falling on your vehicle, damage from flooding and vandalism. The maximum payout your insurance company will pay is the market value of your vehicle, so if the vehicle is not worth much consider removing comprehensive coverage.

The best insurance company isn’t always the cheapest

Low-cost Hyundai Elantra insurance in Minneapolis can be found from both online companies as well as from independent agents in Minneapolis, and you should compare price quotes from both to have the best selection. Some companies may not provide online quoting and these regional carriers prefer to sell through independent insurance agents.

Insureds who switch companies do it for many reasons like denial of a claim, policy non-renewal, an unsatisfactory settlement offer and even high rates after DUI convictions. Whatever your reason, switching car insurance companies is easier than you think.

When getting Minneapolis car insurance quotes online, do not buy poor coverage just to save money. In many cases, drivers have reduced uninsured motorist or liability limits and found out when filing a claim that it was a big mistake. Your goal is to purchase a proper amount of coverage at an affordable rate and still be able to protect your assets.

How to find low-cost Hyundai Elantra insurance in Minneapolis

The easiest way to find lower priced Hyundai Elantra insurance is to compare quotes once a year from insurance carriers in Minneapolis.

1. It will benefit you to learn about car insurance and the things you can control to prevent high rates. Many rating criteria that cause rate increases like traffic citations and a low credit rating can be amended by making lifestyle changes or driving safer.
2. Compare rates from direct, independent, and exclusive agents. Direct and exclusive agents can only provide price estimates from one company like Progressive or Farmers Insurance, while agents who are independent can quote prices from multiple companies.
3. Compare the quotes to the price on your current policy and determine if there is any savings. If you find better rates and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
4. Provide proper notification to your current company to cancel your existing policy. Submit a down payment and signed policy application to the new company. When you receive it, put the certificate verifying proof of insurance in your vehicle’s glove compartment or console.

One tip to remember is to use the same amount of coverage on every price quote and and to get rates from as many companies as you can. Doing this ensures the most accurate price comparison and the best price selection.

For more information, take a look at the articles below:

• Uninsured Motorist Statistics (Insurance Information Institute)
• How Much is Auto Insurance for Drivers Under 25 in Minneapolis? (FAQ)
• Who Has Cheap Minneapolis Car Insurance for High Mileage Drivers? (FAQ)
• Collision Insurance Coverage (Nationwide)
• Eight Auto Insurance Myths (Insurance Information Institute)
• Child Safety Seats (Insurance Information Institute)