How to Save on Newark Hyundai Elantra Insurance

Insurance rates Hyundai Elantra in NewarkDo you want to stop overpaying and find the cheapest Hyundai Elantra insurance in Newark? Finding cheap rates for Hyundai Elantra insurance in Newark might be hard for drivers who are beginners to online insurance quotes. Consumers have so many options available that it can easily be a burden to find the best rates.

Amazingly, a large majority of drivers have stayed with the same insurance company for at least the last four years, and 38% of drivers have never compared rate quotes at all. With the average premium in New Jersey being $2,010, drivers could save 40% a year by just comparing quotes, but they don’t understand how simple it is to compare rates online.

If you have a policy now, you should be able to shop for the lowest rates using the techniques covered below. Finding and comparing affordable auto insurance coverage in Newark can be fairly easy. Nevertheless, New Jersey drivers must learn the way insurance companies price online insurance and take advantage of how the system works.

The easiest way to compare car insurance company rates for Hyundai Elantra insurance in Newark is to know most of the bigger providers will pay a fee to compare rate quotes. The only thing you need to do is provide a little information such as daily mileage, types of safety features, whether or not you need a SR-22, and driver details. The data is instantly submitted to multiple top-rated companies and they return rate quotes instantly to find the best rate.

To start a quote now, click here and see if a lower rate is available in Newark.

The auto insurance companies shown below are ready to provide comparison quotes in New Jersey. To locate the best auto insurance in Newark, we recommend you get rates from several of them to get the most competitive price.

Lower rates by qualifying for discounts

The price of auto insurance can be rather high, but there could be available discounts that you may not even be aware of. Many of these discounts will be applied automatically when you quote, but a few need to be specially asked for before you will receive the discount. If you’re not getting every credit you qualify for, you’re just leaving money on the table.Discount insurance

A little note about advertised discounts, some of the credits will not apply to the entire policy premium. Most only reduce specific coverage prices like comprehensive or collision. So despite the fact that it appears you could get a free insurance policy, it just doesn’t work that way. But all discounts will cut the premium cost.

The chart below visualizes the comparison of Hyundai Elantra car insurance costs with and without policy discounts. The rates are based on a male driver, no accidents, no driving violations, New Jersey state minimum liability limits, full 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, safe-driver, multi-car, marriage, and claim-free discounts applied.

Companies that may have most of these discounts may include but are not limited to:

When comparing rates, check with each insurance company what discounts are available to you. All car insurance discounts may not apply in every state. To find companies that offer many of these discounts in Newark, click here.

Data for Hyundai Elantra insurance

The coverage information shown next highlights different rate quotes for Hyundai Elantra models. Knowing how car insurance prices are established can help drivers make decisions on which insurance to purchase.

Hyundai Elantra Insurance Rates in Newark, NJ
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $172 $334 $462 $28 $138 $1,134 $95
Elantra Blue 4-Dr Sedan $172 $478 $544 $32 $162 $1,388 $116
Elantra GLS 4-Dr Sedan $198 $478 $544 $32 $162 $1,414 $118
Elantra SE 4-Dr Sedan $198 $478 $544 $32 $162 $1,414 $118
Elantra SE Touring Station Wagon $198 $406 $462 $28 $138 $1,232 $103
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Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and New Jersey minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, homeowner, and multi-vehicle. Table data does not factor in specific zip code location which can change coverage prices substantially.

The diagram below illustrates how your deductible choice and can increase or decrease Hyundai Elantra insurance premiums for different categories of driver ages. The prices are based on a married male driver, comprehensive and collision coverage, and no other discounts are factored in.

Full coverage versus liability only rates

The diagram below visualizes the comparison of Hyundai Elantra insurance rates when comparing full coverage to liability only. The costs are based on no claims, a clean driving record, $1,000 deductibles, single marital status, and no additional discounts are factored in.

Guidelines for dropping full coverage

There isn’t a steadfast formula to exclude comp and collision coverage, but there is a guideline you can use. If the yearly cost of full coverage is more than about 10% 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 say your Hyundai Elantra book value is $8,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most you would get paid by your company is $7,000 after paying your policy deductible. If premium cost is more than $700 a year for your policy with full coverage, then you might want to think about dropping full coverage.

There are a few situations where dropping full coverage is not financially feasible. If you still owe money on your vehicle, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle in case of an accident, you should not consider dropping full coverage.

Get Lower-cost Insurance Rates by Understanding These Factors

Lots of things are used when you get your auto insurance bill. Most are fairly basic such as your driving record, but others are not quite as obvious such as whether you are married or how financially stable you are. A large part of saving on insurance is knowing a few of the rating criteria that aid in calculating your insurance rates. If you have some idea of what determines premiums, this helps enable you to make changes that can earn you lower rates.

Lower physical damage deductibles cost more – Deductibles for physical damage define how much you are willing to pay before a claim is paid by your company. Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, insures against damage to your car. Examples of covered claims are colliding with a stationary object, fire damage, and damage from wind. The more of the claim you are required to pay out-of-pocket, the less money you will pay for insurance.

Get hitched and pay less – Having a spouse may cut your premiums on your insurance policy. Having a spouse generally demonstrates drivers are more mature and it’s proven that drivers who are married file infrequent claims.

Buy as much liability protection as you can afford – Your policy’s liability coverage provides coverage when you are determined to be liable for damages from an accident. Your policy’s liability insurance provides you with a defense in court to defend your case. Liability insurance is pretty cheap compared to comp and collision, so insureds should have plenty of protection for their assets.

When should you file insurance claims? – If you frequently file small claims, you shouldn’t be surprised to get much higher rates or policy non-renewal. Car insurance companies in New Jersey generally give better rates to people who only file infrequent claims. Insurance coverage is designed for more catastrophic claims.

Gender and auto insurance rates – Statistics have proven that women are safer drivers than men. This data doesn’t prove that females are better drivers. They both are in accidents at a similar rate, but the men tend to have higher claims. Not only are claims higher, but men receive more costly citations such as DWI and reckless driving. Youthful male drivers are the most expensive to insure so it costs more to insure them.

The diagram below shows the difference between Hyundai Elantra auto insurance costs for male and female drivers. The rate quotes are based on a clean driving record, no claims, full physical damage coverage, $500 deductibles, single marital status, and no discounts are applied.

Hyundai Elantra insurance loss probability – Insurers analyze historical claim data to help determine rates. Models that have higher number or severity of losses will have a higher cost to insure. The table below illustrates the historical insurance loss data for Hyundai Elantra vehicles.

For each coverage type, the loss probability for all vehicles compiled together equals 100. Percentage numbers below 100 represent a good loss history, while values that are above 100 show a trend for more claims or an increased chance of a larger loss.

Insurance Loss Ratings for Hyundai Elantra Vehicles
Specific Hyundai Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Hyundai Elantra 102 102 90 133 137 117
Hyundai Elantra GT 95 91 95 112 114 107

Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years