Auto Insurance Rates for a Hyundai Sonata in El Paso

Do you need a fast way to compare more affordable Hyundai Sonata insurance in El Paso? Have you finally had enough of trying to scrape together enough money to make your auto insurance payment? You’re in the same situation as the majority of other people in Texas.

It’s safe to conclude that insurance companies want to keep you from comparing rates. Consumers who get comparison quotes once a year will presumably switch to a new company because there is a good probability of finding lower rate quotes. A study showed that consumers who compared price quotes annually saved on average $3,500 over four years as compared to drivers who never compared other company’s rates.

If finding low prices for car insurance is your ultimate objective, then having a grasp of how to find companies and compare cheaper coverage can make it simple to find affordable coverage.

Popular companies such as State Farm, Allstate, GEICO and Progressive continually hit you with catchy ads and consumers find it hard to see past the geckos and flying pigs and find the best price available.

Consumers should take time to compare prices on a regular basis because prices change regularly. Even if you think you had the best price on Hyundai Sonata insurance in El Paso last year other companies may now be cheaper. Ignore everything you know about auto insurance because you’re about to learn one of the easiest ways to save money, get proper coverage and the best rates.

If you currently have car insurance, you will most likely be able to find the best rates using this information. Choosing the most cost-effective car insurance policy in El Paso can initially seem challenging. But Texas consumers benefit from understanding how companies determine how much to charge because it can help you find the best coverage.

It’s important to know that comparing more prices helps you find the best offered rates.

The following companies have been selected to offer price quotes in Texas. If multiple providers are shown, we recommend you get rates from several of them to get the best price comparison.

Get lower-cost Hyundai Sonata insurance in El Paso with discounts

Insurance is easily one of your largest bills, but there’s a good chance there are discounts that you may not know about. Certain discounts will be applied at the time of purchase, but some discounts are required to be specially asked for prior to getting the savings.

• Membership in Organizations – Joining qualifying employment or professional organizations is a good way to get lower rates on your policy.
• Discount for Good Grades – This discount can get you a discount of up to 25%. Earning this discount can benefit you well after school through age 25.
• Anti-lock Brake System – Vehicles with ABS braking systems or traction control can reduce accidents and the ABS can save up to 10%.
• Discounts for Cautious Drivers – Insureds who avoid accidents can get discounts for up to 45% lower rates than drivers with accidents.
• Passenger Safety Discount – Cars that have air bags or motorized seat belts can receive discounts of more than 20%.
• Discounts for New Vehicles – Buying a new car instead of a used Sonata can be considerably cheaper compared to insuring an older model.
• Accident Forgiveness – This isn’t a discount exactly, but some insurance companies will turn a blind eye to one accident before they charge you more for coverage so long as you haven’t had any claims for a certain period of time.
• Government Employees – Having worked for a branch of the government can earn a discount up to 10% with some insurance companies.
• Own a Home – Owning a house in El Paso can save you money since home ownership requires personal responsibility.

As a footnote on discounts, many deductions do not apply to your bottom line cost. Some only reduce individual premiums such as medical payments or collision. Despite the fact that it seems like it’s possible to get free car insurance, you aren’t that lucky.

The information below shows the comparison of Hyundai Sonata yearly insurance costs with and without discounts applied. The data is based on a male driver, a clean driving record, no at-fault accidents, Texas state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, homeowner, safe-driver, marriage, and multi-policy discounts applied.

Companies and some of the discounts can be found below.

• State Farm has discounts for multiple policy, good student, multiple autos, Steer Clear safe driver discount, good driver, and Drive Safe & Save.
• American Family has savings for mySafetyValet, bundled insurance, early bird, Steer into Savings, accident-free, multi-vehicle, and defensive driver.
• AAA includes discounts for education and occupation, good student, pay-in-full, anti-theft, and multi-policy.
• GEICO may have discounts that include military active duty, emergency military deployment, defensive driver, multi-policy, air bags, and anti-theft.
• Mercury Insurance may include discounts for ease of repair, multi-car, location of vehicle, multi-policy, age of vehicle, professional/association, and low natural disaster claims.
• Farmers Insurance offers discounts for early shopping, business and professional, teen driver, homeowner, good student, and mature driver.
• Progressive discounts include online quote discount, good student, multi-vehicle, multi-policy, online signing, and continuous coverage.

Before buying, ask every insurance company the best way to save money. Some discounts might not be available to policyholders in every state. To choose insurance companies that offer the discounts shown above in El Paso, follow this link.

Hyundai Sonata insurance rate analysis

The table displayed next outlines estimates of insurance rates for Hyundai Sonata models. Having a better understanding of how insurance premiums are formulated is important for making informed decisions when shopping around for a new policy.

Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Table data does not factor in specific garaging location which can raise or lower coverage prices considerably.

Can higher deductibles save money?

When buying car insurance, a common question is at what level do you set your deductibles. The comparisons below may help to conceptualize the differences in price between low and high insurance deductibles. The first rate estimation uses a $250 physical damage coverage deductible and the second pricing table uses a $500 deductible.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, claim-free, and multi-policy. Prices do not factor in your specific El Paso location which can decrease or increase premium rates noticeably.

Based on the above data, using a $250 deductible will cost you about $16 more each month or $192 each year across all Hyundai Sonata models than opting for the higher $500 deductible. Because you would pay $250 more out of your own pocket with a $500 deductible as compared to a $250 deductible, if you have more than 16 months between claims, you would more than likely save some money by going with a higher deductible.

An important sidenote is that a higher deductible results in a higher out-of-pocket expense when you have a comprehensive or collision claim. It will be required that you have access to more funds in order to pay the higher deductible.

Comparison of full coverage and liability-only policies

The diagram below shows the comparison of Hyundai Sonata yearly insurance costs with full coverage compared to only the Texas minimum liability coverage. The data is based on no violations or claims, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.

Are you wasting money on full coverage?

There is no definitive rule for eliminating physical damage insurance, but there is a general guideline you can use. If the yearly cost of comp and collision coverage is more than about 10% of any settlement you would receive from your insurance company, then you might consider buying liability only.

For example, let’s assume your Hyundai Sonata replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company will settle for is $2,000 after the deductible is paid. If you are currently paying more than $200 a year for your policy with full coverage, then you might consider buying liability only.

There are some circumstances where eliminating full coverage is not advised. If you haven’t satisfied your loan, you have to carry full coverage in order to keep the loan. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should not drop full coverage.

Why You Might Pay Increased Rates in El Paso

Part of the insurance buying process is learning the different types of things that go into determining the price you pay for insurance. When you know what positively or negatively positively or negatively impacts your premiums, this allows you to make good choices that may result in much lower annual insurance costs. Lots of things are part of the equation when you get your auto insurance bill. Some factors are common sense like your driving record, although others are less apparent such as whether you are married or how financially stable you are.

• Keep the miles off and save – The more you drive your Hyundai annually the more you will pay for insurance. A lot of companies calculate prices based upon how much you drive. Cars and trucks that are left in the garage cost less to insure than those used for commuting. Verify your insurance coverage properly reflects how each vehicle is driven. Improper usage on your Sonata can cost quite a bit.

• Gender and car insurance rates – The statistics show females are less aggressive when driving. It does not mean females are better at driving than males. Both genders have auto accidents at about the same rate, but males cause more damage and cost insurance companies more money. Not only are claims higher, but men receive more costly citations such as reckless driving.

  The information below visualizes the comparison of Hyundai Sonata insurance premiums for male and female drivers. The premiums assume no claims, a clean driving record, comprehensive and collision coverage, $500 deductibles, single status, and no policy discounts are applied.

• Consolidating policies can get discounts – Most major insurance companies will give better rates to customers who buy several policies from them. It’s known as a multi-policy discount. Even with this discount applied, drivers will still want to comparison shop to confirm you are receiving the best rates possible. You may still save money even if you have your coverage with different companies
• Lower rates with no policy lapses – Driving without insurance is illegal and insurance companies will penalize you for letting your coverage lapse. Not only will rates go up, the inability to provide proof of insurance might get you a steep fine or even jail time.

• Insurance losses for a Hyundai Sonata – Insurance companies analyze past claim statistics to help set a rate to offset losses. Models that the data shows to have increased losses will cost more for specific coverages.

  The table below demonstrates the historical insurance loss data for Hyundai Sonata vehicles. For each coverage type, the statistical loss for all vehicles, regardless of make, model or trim level, is represented as 100. Numbers shown that are under 100 are indicative of better than average losses, while values that are above 100 point to more losses or larger claims.

  
  

  Auto Insurance Loss Data for Hyundai Sonata Models

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Hyundai Sonata	129	88	101	138	149	110
  Hyundai Sonata Hybrid	142	116	119	124	138	121

  BETTER

  AVERAGE

  WORSE

  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years