If your goal is the lowest price, then the best way to find lower priced Hyundai Santa Fe insurance is to do a yearly price comparison from providers that sell auto insurance in Fort Worth. You can compare prices by following these steps.
First, read about the different coverages in a policy and the steps you can take to prevent expensive coverage. Many factors that cause rate increases such as your driving record and an unfavorable credit rating can be rectified by making small lifestyle or driving habit changes. Continue reading for more ideas to keep prices down and find hidden discounts.
Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from one company like GEICO or Allstate, while independent agencies can provide rate quotes for a wide range of insurance providers. View prices
Third, compare the quotes to the price on your current policy to see if cheaper Santa Fe coverage is available. If you find a lower rate quote and buy the policy, ensure coverage does not lapse between policies.
Fourth, tell your current company to cancel your existing policy. Submit any necessary down payment along with the completed application to the new insurer. Make sure you safely store the proof of insurance paperwork with your registration paperwork.
An essential thing to point out is to try to use the same liability limits and deductibles on every quote and and to compare every company you can. Doing this ensures a fair rate comparison and a good representation of prices.
Unfortunately, the vast majority of auto insurance customers renewed their policy with the same company for at least four years, and nearly 40% of drivers have never compared rates from other carriers. Fort Worth drivers could save roughly 70% each year by just comparing rate quotes, but they underestimate how much they could save if they bought a different policy.
Locating the most cost-effective insurance policy in Fort Worth is really not that difficult. If you have a policy now or are looking for a new policy, take advantage of these tips to find better prices without reducing protection. Comparison shoppers just need to know the proper methods to shop online from multiple companies.
Why Informed Drivers Pay Less for Hyundai Santa Fe Insurance
When buying car insurance it’s important to understand some of the factors that go into determining the level of your policy premiums. If you know what controls the rates you pay, this allows you to make good choices that may result in much lower annual insurance costs.
With age comes lower premiums – Older drivers are viewed as being more responsible, cost insurance companies less in claims, and are generally more financially stable. Inexperience drivers are statistically shown to be careless and easily distracted with other occupants in the car so car insurance rates are higher.
The following chart is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
Raise your coverage deductibles for better premiums – Insurance for physical damage, aka comp and collision, covers damage that occurs to your Hyundai. Some examples of claims that would be covered are a dented fender, damage caused by hail, and damage caused by flying debris. The deductibles you choose represent how much money you are required to spend before a claim is paid by your company. The more money you are required to pay out-of-pocket, the less money you will pay for car insurance.
Bad drivers pay high costs – Drivers with clean records pay lower auto insurance prices compared to bad drivers. Having a single chargeable violation may increase your cost by twenty percent. Drivers unfortunate enough to have severe violations such as DUI, reckless driving or excessive speeding may need to maintain a SR-22 with their state motor vehicle department in order to legally drive a vehicle.
The illustration below demonstrates how speeding tickets and at-fault collisions influence Hyundai Santa Fe premium costs for different age categories. The data assumes a single female driver, full physical damage coverage, $1,000 deductibles, and no discounts are factored in.
Save money by eliminating incidental coverages – There are many extra bells and whistles that you can get tricked into buying if you aren’t diligent. Insurance for things like roadside assistance, accidental death, and term life insurance are probably not needed. They may sound like good ideas initially, but if you don’t need them remove them and pocket the money.
Cars with good safety ratings means better car insurance rates – Cars with five star safety ratings are cheaper to insure. Safe vehicles help reduce the chance of injuries in an accident and fewer serious injuries translates into fewer and smaller insurance claims and thus lower rates.
Stress out and pay more – Occupations such as military personnel, police officers, and emergency personnel usually pay higher rates than the rest of us because of intense work requirements and lots of time spent away from family. Conversely, jobs like scientists, engineers and performers receive lower rates.
Insurance loss data for a Hyundai Santa Fe – Insurers take into consideration historical loss data for every vehicle when determining insurance rates. Vehicles that have higher number or severity of losses will cost more for coverage.
The table below outlines the collected loss data for Hyundai Santa Fe vehicles. For each policy coverage, the loss probability for all vehicles compiled together is a value of 100. Percentage numbers below 100 imply a favorable loss record, while numbers that are greater than 100 indicate a higher chance of having a claim or larger claims.
| Vehicle Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Hyundai Santa Fe 4dr 2WD | 91 | 94 | 82 | 86 | 92 | 91 |
| Hyundai Santa Fe 4dr 4WD | 109 | 115 | 97 | 96 | 84 | 94 |
| Hyundai Santa Fe Sport 4dr 2WD | 88 | 90 | 93 | 90 | 89 | 93 |
| Hyundai Santa Fe Sport 4dr 4WD | 95 | 91 | 110 | 90 | 96 | 84 |
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Hyundai Santa Fe insurance rates and statistics
The rate information shown below outlines a range of prices for Hyundai Santa Fe models. Having a good grasp of how insurance prices are formulated is important for making smart choices when choosing a car insurance company.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Santa Fe GLS 2WD | $248 | $486 | $388 | $24 | $116 | $1,262 | $105 |
| Santa Fe GLS 4WD | $286 | $486 | $388 | $24 | $116 | $1,300 | $108 |
| Santa Fe SE 2WD | $286 | $486 | $388 | $24 | $116 | $1,300 | $108 |
| Santa Fe Limited 2WD | $286 | $572 | $388 | $24 | $116 | $1,386 | $116 |
| Santa Fe SE 4WD | $286 | $572 | $388 | $24 | $116 | $1,386 | $116 |
| Santa Fe Limited 4WD | $322 | $572 | $388 | $24 | $116 | $1,422 | $119 |
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Data rating is based on married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, safe-driver, claim-free, and homeowner. Information does not factor in specific location information which can raise or lower price quotes considerably.
Hyundai Santa Fe insurance rates: Men versus women
The chart below compares Hyundai Santa Fe insurance costs for male and female drivers. The premiums assume no accidents, no driving violations, full coverage, $250 deductibles, single marital status, and no discounts are applied to the premium.
Difference between liability only and full coverage rates
The example below illustrates the comparison of Hyundai Santa Fe insurance premiums with full coverage compared to only the Texas minimum liability coverage. Data assumes no tickets, no at-fault accidents, $100 deductibles, single status, and no other discounts are factored in.
Deciding between full coverage and liability only
There is no specific rule to stop paying for physical damage coverage on your policy, but there is a general guideline. If the yearly cost for physical damage coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let’s assume your Hyundai Santa Fe replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most you would receive is $7,000 after you pay the deductible. If you are paying more than $700 annually for your policy with full coverage, then it might be time to consider dropping full coverage.
There are some cases where eliminating full coverage is not a good idea. If you haven’t paid off your loan, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you can’t afford to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage in place.
Verify you’re earning every discount
Insurance can be prohibitively expensive, but there are discounts available that may help make it more affordable. Certain discounts will be triggered automatically at the time you complete a quote, but some discounts are required to be requested specifically prior to getting the savings.
- Discounts for Responsible Drivers – Drivers without accidents may save up to 50% more than their less cautious counterparts.
- Auto/Life Discount – If the company offers life insurance, you could get a discounted insurance rate on car insurance if you buy some life insurance too.
- Senior Citizen Rates – Drivers that qualify as senior citizens can possibly qualify for better insurance rates.
- Braking Control Discount – Vehicles that have anti-lock braking systems are safer to drive and therefore earn up to a 10% discount.
- Early Payment Discounts – By paying your entire bill at once instead of making monthly payments you may have a lower total premium amount.
A little disclaimer on discounts, most discount credits are not given to your bottom line cost. A few only apply to individual premiums such as medical payments or collision. So despite the fact that it appears having all the discounts means you get insurance for free, nobody gets a free ride.
The chart below visualizes the comparison of Hyundai Santa Fe car insurance costs with and without discounts applied to the policy premium. The costs are based on a male driver, no claims or driving violations, Texas state minimum liability limits, comprehensive and collision coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-car, claim-free, multi-policy, homeowner, and marriage discounts applied.
Some of the larger companies that may offer quotes with most of the discounts above include:
Check with every company what discounts are available to you. Depending on the company, some discounts might not be available to policyholders in Fort Worth. To see a list of companies that offer the discounts shown above in Texas, click here to view.
One last thing about your coverage
When searching for low cost Fort Worth car insurance quotes, never reduce needed coverages to save money. There are many occasions where an insured dropped liability limits or collision coverage only to discover later that a couple dollars of savings turned into a financial nightmare. Your goal should be to purchase plenty of coverage at a price you can afford.
Low-cost Hyundai Santa Fe insurance in Fort Worth can be bought from both online companies in addition to local insurance agencies, and you should be comparing both to have the best rate selection. Some companies may not have online rate quotes and many times these small insurance companies only sell coverage through independent agencies.
Insureds who switch companies do it for any number of reasons including being labeled a high risk driver, not issuing a premium refund, extreme rates for teen drivers and even high prices. Regardless of your reason, finding a new company can be less work than you think.
To read more, feel free to visit the following helpful articles:
- How to shop for a safer car (Insurance Institute for Highway Safety)
- Who Has Affordable Fort Worth Car Insurance Quotes for Nurses? (FAQ)
- Who Has Cheap Auto Insurance for 17 Year Olds in Fort Worth? (FAQ)
- How Much are Auto Insurance Rates for a Ford Escape in Fort Worth? (FAQ)
- Who Has the Cheapest Auto Insurance for a Toyota Highlander in Fort Worth? (FAQ)
- Side airbags reduce rollover fatalities (Insurance Institute for Highway Safety)
- Rental Car Insurance Tips (Insurance Information Institute)