Scraping up a payment for pricey Hyundai Genesis insurance in Jacksonville can bleed your funds and possibly require you to analyze your spending habits. Comparing cost estimates can be a smart way to ensure you are getting the best deal.
Unfortunately, about 70% of customers have stayed with the same insurance company for at least the last four years, and 38% of customers have never taken the time to shop around. Drivers in Florida could save 55% every year by just comparing rate quotes, but they don’t know the actual amount they would save if they changed companies.
Steps to finding more affordable Hyundai Genesis insurance in Jacksonville
The best way to get cheaper Hyundai Genesis insurance is to compare quotes annually from providers in Jacksonville.
- First, read about how your policy works and the measures you can control to lower rates. Many risk factors that increase rates like getting speeding tickets and an unacceptable credit rating can be eliminated by making minor changes in your lifestyle. Keep reading for instructions to prevent high prices and find discounts that may have been missed.
- Second, compare prices from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give rate quotes from a single company like GEICO or Farmers Insurance, while independent agencies can provide prices for a wide range of companies. Begin your rate comparison
- Third, compare the price quotes to the premium of your current policy and determine if there is any savings. If you find a lower rate quote and decide to switch, make sure there is no coverage gap between policies.
One bit of advice is to make sure you’re comparing similar limits and deductibles on every quote and and to get price estimates from as many different companies as possible. This guarantees an apples-to-apples comparison and the most accurate and complete price analysis.
People have many auto insurance companies to buy insurance from, and although it’s nice to be able to choose, so many choices can make it hard to compare rates for Hyundai Genesis insurance in Jacksonville.
It’s smart to quote other rates as often as possible because prices fluctuate regularly. Just because you had the best price on Hyundai Genesis insurance in Jacksonville a year ago you may be paying too much now. Ignore everything you know about insurance because we’re going to show you how to use online quotes to find better rates and still maintain coverage.
Jacksonville insurance discounts
Auto insurance companies don’t list every discount available in an easy-to-find place, so the below list has both the well known as well as the least known credits available to lower your premiums when you buy Jacksonville car insurance online.
- Discounts for Federal Employees – Having worked for a branch of the government could provide a small rate reduction with a few insurance companies.
- Telematics Devices – Drivers who elect to allow companies to monitor their driving habits by using a telematics device like In-Drive from State Farm and Progressive’s Snapshot could see a rate decrease if their driving habits are good.
- Pay Early and Save – By paying your entire bill at once rather than paying in monthly installments you can avoid the installment charge.
- Renewal Discounts – Select insurance companies give a discount for switching policies before your current coverage expires. You could save around 10% when you buy Jacksonville car insurance online.
- Drivers Education – Cut your cost by having your teen driver enroll in driver’s education if offered at their school.
- Jacksonville Homeowners Discount – Simply owning a home can get you a discount because of the fact that having a home requires a higher level of personal finance.
You can save money using discounts, but many deductions do not apply to the entire policy premium. Most only cut the cost of specific coverages such as physical damage coverage or medical payments. Despite the appearance that you would end up receiving a 100% discount, you won’t be that lucky.
The diagram below illustrates the difference between Hyundai Genesis annual premium costs with and without discounts applied to the premium. The prices are based on a female driver, no claims or driving citations, Florida state minimum liability limits, comp and collision included, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, marriage, homeowner, claim-free, multi-policy, and multi-car discounts applied.
To choose insurers with discount rates in Jacksonville, click this link.
The companies shown below can provide price quotes in Florida. If the list has multiple companies, it’s highly recommended you visit two to three different companies to get a more complete price comparison.
Analysis of coverages
The coverage table displayed next outlines a range of rate quotes for Hyundai Genesis models. Having a good understanding how premiums are formulated can benefit drivers when making smart choices when purchasing an auto insurance policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Genesis 2.0T 2-Dr Coupe||$296||$594||$522||$30||$156||$1,598||$133|
|Genesis 3.8 4-Dr Sedan||$330||$516||$354||$20||$106||$1,326||$111|
|Genesis 2.0T Premium 2-Dr Coupe||$330||$594||$522||$30||$156||$1,632||$136|
|Genesis 3.8 2-Dr Coupe||$330||$594||$522||$30||$156||$1,632||$136|
|Genesis 2.0T Track 2-Dr Coupe||$330||$594||$522||$30||$156||$1,632||$136|
|Genesis 3.8 Grand Touring 2-Dr Coupe||$330||$594||$522||$30||$156||$1,632||$136|
|Genesis 4.6 4-Dr Sedan||$330||$594||$354||$20||$106||$1,404||$117|
|Genesis 3.8 Track 2-Dr Coupe||$330||$672||$522||$30||$156||$1,710||$143|
|Get Your Own Custom Quote Go|
Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Florida minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Rate quotes do not factor in vehicle garaging location which can lower or raise price quotes considerably.
The information below shows how choosing a deductible and can affect Hyundai Genesis insurance prices for different age groups. The price estimates are based on a married female driver, comp and collision included, and no policy discounts are applied.
Informed Consumers Know How to Quote Auto Insurance More Affordably
Lots of things are used in the calculation when quoting car insurance. A few of the factors are predictable like an MVR report, although some other factors are more transparent like where you live or your commute time.
What type of car do you drive? – The make and model of the car you own makes a huge difference in the rate you pay. The cheapest insurance rates will generally be found on lower cost passenger cars, but your final cost has many other factors.
The chart below uses these assumptions: single female driver age 50, full coverage with $1000 deductibles, and no discounts or violations. The chart compares Hyundai Genesis policy rates compared to other models that have a range of risk factors.
Certain vocations pay higher rates – Jobs like judges, police officers, and financial analysts tend to pay higher average rates because of job stress and incredibly demanding work hours. On the flip side, occupations like professors, engineers and retirees receive lower rates.
Extra coverages can cost a lot – There are a ton of additional coverages that can waste your money if you aren’t diligent. Things like vanishing deductibles, towing, and term life insurance are probably not needed. These may sound like a good investment when buying your policy, but if they’re wasting money eliminate the coverages to reduce your premium.
Cautious drivers have lower premiums – Getting just one citation can increase the cost of insurance by twenty percent. Attentive drivers receive lower rates than their less careful counterparts. Drivers who have received dangerous tickets such as reckless driving or DUI may find they need to submit a SR-22 or proof of financial responsibility with their state DMV in order to keep their license.
The example below shows how speeding tickets and fender-benders influence Hyundai Genesis premium costs for different age groups. The rate quotes are based on a single male driver, full coverage, $250 deductibles, and no other discounts are factored in.
File a insurance claims and pay more – If you file a lot of claims you can pretty much guarantee higher premiums or even policy non-renewal. Insurance companies in Florida award the lowest premiums to policyholders who only file infrequent claims. Insurance coverage is intended for claims that you cannot pay yourself.
Put fewer miles on your vehicle – The higher the miles on your Hyundai each year the higher your rates will be. Most companies rate vehicles based on how the vehicle is used. Cars and trucks not used for work or commuting get more affordable rates as compared to vehicles used primarily for driving to work. Double check that your auto insurance policy states how each vehicle is driven, because improper ratings can cost you money. An incorrectly rated Genesis can cost quite a bit.
High comp and collision deductibles equal low rates – The deductibles you choose tell how much you are willing to pay if a covered claim is submitted. Physical damage coverage, aka comp and collision, protects your car from damage. Some coverage claims are rear-ending another vehicle, hail damage, and having a roll-over accident. The more you are required to pay out-of-pocket, the bigger discount you will receive.
No policy gaps is important – Having an insurance coverage lapse will be a sure-fire way to increase your renewal premiums. And not only will insurance be more expensive, not being able to provide proof of insurance may earn you a license revocation or jail time.
Hyundai Genesis claim statistics – Companies use claims history to calculate a rate that offsets possible losses. Models that tend to have higher number or severity of losses will have higher rates. The table shown below demonstrates the insurance loss data used by companies for Hyundai Genesis vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles, without regard to make or model, is a value of 100. Percentage numbers below 100 indicate a favorable loss history, while numbers above 100 point to more frequent losses or larger claims.
|Make and Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Hyundai Genesis 4dr||154||71||154||85||99|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Buying car insurance from Jacksonville auto insurance agents
A lot of people prefer to talk to a local agent and there is nothing wrong with that. Agents can help determine the best coverages and help file insurance claims. One of the benefits of comparing rates online is that drivers can save money and get lower rates and still buy from a local agent. Supporting local agents is still important in Jacksonville.
To help locate an agent, after submitting this simple form, your information is immediately sent to local insurance agents in Jacksonville that can give you free Jacksonville car insurance quotes for your business. It makes it easy because there is no need to contact an agency because quoted prices will be sent to you. If you have a need to compare prices from one company in particular, you can always search and find their rate quote page and fill out the quote form the provide.
Different types of Jacksonville auto insurance agents
If you need to find a local Jacksonville insurance agent, it’s important to understand the types of insurance agents and how they function. Jacksonville agents are considered either exclusive agents or independent agents. Either type can insure your vehicles properly, but it’s worth mentioning the difference between them because it may have an impact on the selection process.
Independent Agencies or Brokers
Agents of this type often have affiliation with several companies and that enables them to quote your coverage through many companies and get the cheapest rates. If your agent finds better pricing, an independent agent can move your coverage and you won’t have to switch agencies. When comparison shopping, we recommend you include a few independent agents so that you can do a thorough price comparison.
Shown below is a partial list of independent insurance agents in Jacksonville that can give you cheap rate quotes.
Exclusive Car Insurance Agencies
Agents that elect to be exclusive can only write with one company such as Allstate, State Farm and Farmers Insurance. Exclusive agencies are unable to place coverage with different providers so keep that in mind. Exclusive agents are usually quite knowledgeable on what they offer and that enables them to sell even at higher rates.
The following is a list of exclusive insurance agencies in Jacksonville that can give you comparison quotes.
Finding the right insurance agency needs to be determined by more than just the quoted price. The answers to these questions are important, too.
- Will a damage claim use OEM or aftermarket replacement parts?
- Are they in the agency full-time?
- Will one accident increase rates?
- Is there a Errors and Omissions policy in force?
- How is replacement cost determined on your vehicle?
- How much can you save by raising your physical damage deductibles?
- Do they see any coverage gaps in your plan?
- Do they have 24-hour customer assistance?
Three good reasons to insure your Hyundai Genesis
Despite the high cost of buying insurance for a Hyundai Genesis in Jacksonville, car insurance may be mandatory for several reasons.
First, the majority of states have minimum mandated liability insurance limits which means you are required to buy a specific minimum amount of liability insurance in order to be legal. In Florida these limits are 10/20/10 which means you must have $10,000 of bodily injury coverage per person, $20,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if your vehicle has a loan, most banks will require you to have physical damage coverage to guarantee their interest in the vehicle. If you default on your policy, the lender will be forced to insure your Hyundai at an extremely high rate and force you to pay a much higher amount than you were paying before.
Third, insurance protects not only your car but also your assets. Insurance will also pay for all forms of medical expenses incurred in an accident. One policy coverage, liability insurance, will also pay for a defense attorney if anyone sues you for causing an accident. If mother nature or an accident damages your car, your policy will pay to have it repaired.
The benefits of carrying enough insurance more than cancel out the cost, especially if you ever need it. On average, a vehicle owner in Jacksonville is overpaying over $865 each year so shop around at every renewal to make sure the price is not too high.
Shop smart and save
Some insurance providers don’t offer the ability to get quotes online and these small, regional companies only sell coverage through independent agencies. More affordable insurance in Jacksonville is available both online as well as from insurance agents, and you should be comparing both in order to have the best chance of saving money.
When getting Jacksonville car insurance quotes online, it’s very important that you do not sacrifice coverage to reduce premiums. There have been many situations where consumers will sacrifice physical damage coverage only to find out that the small savings ended up costing them much more. The goal is to purchase plenty of coverage at the best cost while not skimping on critical coverages.
We just covered many ways to find affordable Hyundai Genesis insurance in Jacksonville. The key thing to remember is the more rate comparisons you have, the higher the chance of saving money. Consumers could even find that the lowest car insurance rates come from the smaller companies. Some small companies may have significantly lower premium rates on certain market segments than their larger competitors like State Farm and Allstate.
How to find lower priced Hyundai Genesis insurance in Jacksonville
If you want to find the absolute lowest rates, then the best way to find lower priced car insurance rates is to regularly compare prices from providers in Jacksonville.
- Get a basic knowledge of individual coverages and the steps you can take to keep rates in check. Many factors that increase rates such as at-fault accidents, careless driving, and a bad credit rating can be controlled by making minor changes to your lifestyle.
- Compare prices from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only quote rates from a single company like Progressive or Allstate, while independent agents can give you price quotes from multiple insurance companies.
- Compare the price quotes to your existing rates and determine if there is any savings. If you can save money and change companies, make sure there is no coverage gap between policies.
- Provide written notification to your current company of your intent to cancel your current coverage and submit the signed application along with the required initial payment to the new company. As soon as you can, put the new certificate verifying coverage in an easily accessible location.
The most important part of this process is to make sure you’re comparing similar coverage information on each quote and and to get price estimates from as many different insurance providers as possible. Doing this helps ensure a fair rate comparison and many rates to choose from.
For more information, take a look at the resources below:
- Uninsured Motorists: Threats on the Road (Insurance Information Institute)
- What Auto Insurance is Cheapest for Felons in Jacksonville? (FAQ)
- Who Has Affordable Auto Insurance Rates for 19 Year Olds in Jacksonville? (FAQ)
- Who Has Affordable Jacksonville Car Insurance Quotes for Uber Drivers? (FAQ)
- What Car Insurance is Cheapest for High Mileage Drivers in Jacksonville? (FAQ)
- What Car Insurance is Cheapest for a Nissan Altima in Jacksonville? (FAQ)
- How Much is Jacksonville Auto Insurance for a Ford Escape? (FAQ)
- Preventing Carjacking and Theft (Insurance Information Institute)
- Airbag FAQ (iihs.org)