How to Compare Baltimore Hyundai Genesis Insurance

If you want to find the absolute lowest rates, then the best way to get more affordable Hyundai Genesis insurance in Baltimore is to compare quotes once a year from different companies who sell auto insurance in Maryland.

• First, try to learn about auto insurance and the measures you can take to prevent rate increases. Many risk factors that are responsible for high rates such as your driving record and a bad credit rating can be rectified by making lifestyle changes or driving safer. Read the full article for more details to get low prices and earn larger discounts.
• Second, get rate quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only give prices from one company like GEICO and Allstate, while independent agents can give you price quotes for a wide range of insurance providers.
• Third, compare the new rate quotes to the price on your current policy and determine if cheaper Genesis coverage is available in Baltimore. If you can save some money, make sure coverage does not lapse between policies.
• Fourth, give notification to your current company of your intent to cancel the current policy. Submit a signed application and payment to the new insurer. Once coverage is bound, put the new certificate verifying coverage with the vehicle registration.

The key aspect of shopping around is to make sure you enter the same level of coverage on every price quote and and to look at as many different insurance providers as possible. Doing this guarantees a level playing field and a thorough selection of prices.

We don’t have to tell you that insurance companies want to keep you from comparing prices. Consumers who compare rates at least once a year are highly likely to move their business because there is a good probability of finding a lower-cost company. Surprisingly, a recent survey revealed that consumers who compared rates regularly saved an average of $70 a month as compared to drivers who never shopped for cheaper rates.

If finding the lowest price for Hyundai Genesis insurance is your objective, learning the best ways to shop for coverage rates can save time, money, and frustration.

Our goal in writing this article introduce you to the best way to quote coverages. If you have a policy now, you will definitely be able to lower your rates using the ideas covered in this article. Shoppers just need to understand the best way to buy car insurance online from multiple companies.

The companies shown below have been selected to offer quotes in Maryland. If you want to find the cheapest auto insurance in Baltimore, it’s a good idea that you visit two to three different companies in order to get a fair rate comparison.

Affordable Baltimore car insurance rates with discounts

Car insurance is not an enjoyable expense, but companies offer discounts that may help make it more affordable. Certain credits will be shown when you purchase, but some may not be applied and must be inquired about prior to receiving the credit.

• Mature Driver Discount – If you’re over the age of 55, you may be able to get reduced rates.
• Seat Belts Save – Drivers who always wear seat belts and also require passengers to buckle up can save up to 15% on medical payment and PIP coverage.
• Anti-lock Brakes – Anti-lock brake equipped vehicles prevent accidents so you can save 10 percent or more.
• Auto/Home Discount – If you combine your auto and homeowners policies with one insurance company you may save at least 10 to 15 percent or more.
• Paper-free Discount – Some insurance companies provide a small discount shop Baltimore car insurance over the internet.
• Save with More Vehicles Insured – Insuring primary and secondary vehicles on a single policy can reduce the rates for all insured vehicles.
• Driver’s Ed – Cut your cost by having your teen driver successfully complete driver’s ed class if it’s offered in school.
• Low Mileage Discounts – Low mileage vehicles may enable drivers to earn discounted prices on garaged vehicles.

Discounts lower rates, but some of the credits will not apply to all coverage premiums. A few only apply to specific coverage prices like comprehensive or collision. Even though the math looks like all the discounts add up to a free policy, companies wouldn’t make money that way.

The diagram below shows the difference between Hyundai Genesis auto insurance costs with and without discounts applied to the premium. The prices are based on a male driver, a clean driving record, no at-fault accidents, Maryland state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, multi-policy, claim-free, marriage, homeowner, and safe-driver discounts applied.

Larger car insurance companies and a partial list of their discounts include:

• State Farm policyholders can earn discounts including good driver, safe vehicle, defensive driving training, accident-free, and multiple policy.
• Liberty Mutual offers discounts for hybrid vehicle, new vehicle discount, newly retired, safety features, new graduate, and newly married.
• American Family offers discounts including air bags, early bird, bundled insurance, accident-free, good student, and Steer into Savings.
• Progressive includes discounts for multi-vehicle, online quote discount, good student, online signing, homeowner, continuous coverage, and multi-policy.
• Farmers Insurance may have discounts that include youthful driver, early shopping, multi-car, good student, electronic funds transfer, and bundle discounts.
• Auto-Owners Insurance may include discounts for safe driver, multi-policy, company car, paperless, air bags, and multiple vehicles.
• SAFECO discounts include teen safe driver, drive less, bundle discounts, multi-car, safe driver, and anti-theft.

If you need low cost Baltimore car insurance quotes, ask each company or agent how many discounts you can get. Some of the earlier mentioned discounts might not apply in Baltimore.

Rate information and statistics

The coverage table below showcases a range of rate quotes for Hyundai Genesis models. Understanding more about how premiums are formulated can help you make informed decisions when comparing rates.

Table data represents married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and Maryland minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, claim-free, and homeowner. Price estimates do not factor in vehicle garaging location which can affect price quotes significantly.

Choosing deductibles

When shopping for insurance, a common question is which deductibles should you choose. The following insurance rates help summarize the premium difference of buying low and high insurance deductibles. The first rate quote example uses a $100 deductible for comprehensive and collision coverage and the second rate table uses a $500 deductible.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Maryland minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Price information does not factor in Baltimore location which can modify coverage rates noticeably.

Based on the above data, using a $100 deductible will cost you roughly $36 more each month or $432 for a full year across all Hyundai Genesis models than selecting the higher $500 deductible. Because you would be required to pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you average more than 11 months between claims, you would save more money if you elect the higher deductible. The numbers below show a better example of how we made this calculation.

The diagram below illustrates how choosing a deductible and can impact Hyundai Genesis insurance rates for different age categories. The premium estimates are based on a single male driver, full coverage, and no discounts are applied to the premium.

Difference between liability only and full coverage rates

The example below shows the difference between Hyundai Genesis insurance prices when comparing full coverage to liability only. The premiums are based on no claims, a clean driving record, $1,000 deductibles, single marital status, and no discounts are applied to the premium.

When to switch to liability coverage only

There is no clear-cut rule of when to exclude physical damage coverage on your policy, but there is a guideline you can use. If the annual cost of coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.

For example, let’s say your Hyundai Genesis claim settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most your company would pay you is $2,000 after the policy deductible has been paid. If you are currently paying more than $200 annually 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 recommended. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is totaled, you should maintain full coverage.

Compare rates but buy from a neighborhood Baltimore auto insurance agent

Many people would rather talk to an insurance agent and that is a personal choice. Professional insurance agents can help you build your policy and give you someone to call. An additional benefit of getting online price quotes is that you can obtain better rates but also keep your business local. Buying from neighborhood insurance agencies is important especially in Baltimore.

To make it easy to find an agent, after completing this short form, your coverage information is sent to local insurance agents in Baltimore that provide free Baltimore car insurance quotes for your insurance coverage. You never need to contact any agents since price quotes are sent to your email. If you need to compare prices for a specific company, don’t hesitate to go to their quote page and fill out their quote form.

Selecting an company should depend on more than just a cheap price. Agents should be asked these questions:

• Which family members are covered?
• Are they full-time agents?
• Do they offer accident forgiveness?
• If your car is in the repair shop, do you have coverage for a rental car?
• Is their price quote a firm figure or are their hidden costs?
• How long has the business existed?
• Is assistance available after office hours?
• Are aftermarket or OEM parts used to repair vehicles?

How to Lower Your Insurance Costs

Lots of things are part of the calculation when you get your auto insurance bill. Some of the criteria are obvious such as traffic violations, but other factors are less obvious like your continuous coverage or your vehicle rating.

• Save miles driven and save money – The higher the miles on your Hyundai every year the higher your rate. Almost all companies charge rates based on how the vehicle is used. Cars and trucks used primarily for pleasure use receive better premium rates compared to those used for work or business. An improperly rated Genesis is just wasting money. Verify your car insurance coverage is showing the right rating data, because it can save money.
• Higher premiums for specific vocations – Did you know your job can affect your rates? Careers such as military generals, social workers, and dentists tend to pay higher premiums than the average policyholder due to job stress and incredibly demanding work hours. On the other hand, occupations such as professors, students and performers get better rates.
• Five star IIHS safety rating saves money – Safe vehicles can get you lower premiums. Vehicles engineered for safety reduce occupant injuries and lower rates of occupant injuries translates directly to fewer claims and more competitive rates for policyholders. If your Hyundai scored at minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you may be receiving a better rate.
• Remove unneeded extra policy coverages – There are a ton of add-on coverages that you can buy if you aren’t diligent. Add-on coverages like coverage for rental cars, high-cost glass coverage, and membership fees may not be needed and are just wasting money. They may sound like good ideas when buying your policy, but if you don’t need them remove them and pocket the money.
• Insure car and home with the same company – The majority of insurance companies give discounts for people that purchase more than one policy, otherwise known as a multi-policy discount. Even with this discount, consumers should still shop around to ensure the best deal. Drivers may still find lower rates even if you have your coverage with different companies
• Raise coverage deductibles and save – Comprehensive and collision coverage deductibles represent how much money you are willing to pay if a claim is determined to be covered. Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, covers damage that occurs to your car. Some coverage claims are colliding with a stationary object, animal collisions, and damage caused by road hazards. The more of the claim the insured is willing to pay, the less your car insurance will be.

• Insurance loss statistics a Hyundai Genesis – Insurers use past insurance losses to help calculate a profitable premium price. Models that the data determines to have increased claim numbers or amounts will cost more for coverage.

  The table below demonstrates the compiled insurance loss statistics for Hyundai Genesis vehicles. For each coverage category, the claim probability for all vehicles compiled together equals 100. Values below 100 suggest a better than average loss history, while values that are 100 or greater indicate a higher chance of having a claim or tendency to have larger claims.

  
  

  Car Insurance Loss Data for Hyundai Genesis Models

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Hyundai Genesis	178	122	117	119	103	117
  Hyundai Genesis 4dr	154	71	154	85	99

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Three reasons car insurance is important

Even though it can be expensive, insuring your vehicle is required in Maryland but it also protects you in many ways.

• Almost all states have minimum liability requirements which means the state requires a specific level of liability coverage in order to license the vehicle. In Maryland these limits are 30/60/15 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
• If you bought your vehicle with a loan, almost every bank will make it mandatory that you have comprehensive coverage to ensure they get paid if you total the vehicle. If you cancel or allow the policy to lapse, the lender will be forced to insure your Hyundai at a much higher rate and require you to reimburse them the higher price.
• Car insurance protects both your Hyundai Genesis and your assets. It also can pay for hospital and medical expenses for you, any passengers, and anyone injured in an accident. One of the most valuable coverages, liability insurance, will also pay attorney fees if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, your policy will pay to restore your vehicle to like-new condition.

The benefits of buying enough insurance more than offset the price you pay, particularly when you have a large claim. According to a survey of 1,000 drivers, the average driver is currently overpaying as much as $850 per year so you should quote and compare rates at every renewal to make sure the price is not too high.

You can find cheaper coverage

We’ve covered a lot of tips how to lower your Hyundai Genesis insurance auto insurance rates in Baltimore. The most important thing to understand is the more quotes you get, the higher the chance of saving money. You may even be surprised to find that the most savings is with a smaller regional carrier. These companies can often provide lower premium rates in certain areas than the large multi-state companies such as State Farm or Progressive.

When you buy Baltimore car insurance online, don’t be tempted to skimp on critical coverages to save a buck or two. In many instances, an accident victim reduced liability coverage limits only to regret at claim time that a couple dollars of savings turned into a financial nightmare. The aim is to buy the best coverage you can find at a price you can afford while not skimping on critical coverages.

More resources

• Safety Tips for Teen Drivers (Insurance Information Institute)
• Who Has Affordable Baltimore Car Insurance Rates for 17 Year Olds? (FAQ)
• Who Has Affordable Baltimore Car Insurance Rates for Lyft Drivers? (FAQ)
• Who Has the Cheapest Auto Insurance Rates for Government Employees in Baltimore? (FAQ)
• Who Has Cheap Car Insurance Rates for Nurses in Baltimore? (FAQ)
• Who Has Cheap Car Insurance Quotes for a Honda CR-V in Baltimore? (FAQ)
• What Car Insurance is Cheapest for High School Students in Baltimore? (FAQ)
• Auto Insurance 101 (About.com)
• Side Impact Crash Tests (iihs.org)
• Information for Teen Drivers (GEICO)
• How Does Hitting a Deer Impact Insurance Rates? (Allstate)