Finding competitive car insurance for a Hyundai Elantra in North Carolina can be really easy, but it hinges on a complex formula that considers things such as how many years you have been driving, your credit status, and violations on your driving record. Drivers will pay on average $637 a year to insure their Elantra, but that cost is an estimation calculated using a 30-year-old single male driver with full physical damage coverage and $1,000 deductibles.
There’s a high likelihood you aren’t exactly 30 years old or even a male, possibly married instead of single, or maybe you have a speeding ticket or two that will increase rates. Everyone has unique insurance needs, and this illustrates why the only way to find the cheapest coverage for your Hyundai is to do the rate comparisons yourself. Quotes are free and you will be able to see rates from top-rated companies that insure vehicles in North Carolina.
The trim level of your Hyundai can impact the cost of coverage, so the price you pay to insure a Elantra GLS Touring Station Wagon will be $54 less than the insurance cost for the higher-end Elantra SE Touring Station Wagon version, as shown in the table below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Elantra GLS Touring Station Wagon | $118 | $168 | $278 | $16 | $84 | $664 | $55 |
| Elantra Blue 4-Dr Sedan | $118 | $240 | $326 | $20 | $98 | $802 | $67 |
| Elantra GLS 4-Dr Sedan | $136 | $240 | $326 | $20 | $98 | $820 | $68 |
| Elantra SE 4-Dr Sedan | $136 | $240 | $326 | $20 | $98 | $820 | $68 |
| Elantra SE Touring Station Wagon | $136 | $204 | $278 | $16 | $84 | $718 | $60 |
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Table data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Price estimates do not factor in garaging location in Charlotte which can affect premium rates greatly.
Deciphering which company quotes the cheapest insurance rates for a Hyundai Elantra takes a bit more work in order to find the best policy.
Each company uses their own calculation to establish rates, so let’s examine the lowest cost insurance companies in Charlotte.
Cheap Insurance Rates for Your Hyundai
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Progressive | $632 |
| 2 | Utica National | $636 |
| 3 | NC Farm Bureau | $716 |
| 4 | Penn National | $725 |
| 5 | Liberty Mutual | $728 |
| 6 | Titan | $737 |
| 7 | GEICO | $742 |
| 8 | State Farm | $749 |
| 9 | Auto-Owners | $844 |
| 10 | National General | $881 |
| 11 | Allied | $892 |
| 12 | Travelers | $909 |
| 13 | Erie | $931 |
| 14 | Peerless | $962 |
| 15 | MetLife | $1,018 |
| 16 | Safeco | $1,034 |
| 17 | Nationwide | $1,041 |
| 18 | Unitrin | $1,042 |
| 19 | Allstate | $1,054 |
| 20 | Encompass | $1,063 |
| Find Your Rate Go | ||
Progressive has some of the most affordable car insurance rates in Charlotte at around $632 per year. Utica National, NC Farm Bureau, Penn National, and Liberty Mutual also make the cut as some of the most economical Charlotte, NC car insurance companies.
As the example above demonstrates, if you are currently insured with Penn National and switched to Progressive, you could realize a yearly price reduction of approximately $93. Drivers with Liberty Mutual might save as much as $96 a year, and Titan policyholders might realize rate reductions of up to $105 a year.
To compare your rates to other North Carolina insurance companies, click here to get a free quote or visit several of the following companies.
Remember that these policy rates are averages across all drivers and vehicles and are not factoring in an exact zip code location for a Hyundai Elantra. So the car insurance company that is best for you may not even be in the top 20 companies in the list above. That emphasizes why you need to get rate quotes using your own personalized driver profile and vehicle information.
Careless drivers pay higher rates
The common sense way to find low insurance rates in North Carolina for an Elantra is to drive cautiously and maintain a clean driving record. The information below demonstrates how citations and at-fault collisions can increase auto insurance rates for each age group. The costs are based on a married male driver, full coverage, $1,000 deductibles, and no policy discounts are applied.
In the previous example, the average cost of a car insurance policy in North Carolina per year with a clean driving record and no accidents is $1,114. Factor in one speeding ticket and the average cost hikes up to $1,281, an increase of $167 each year. Now throw in two accidents along with the one speeding ticket and the yearly cost of insurance for a Hyundai Elantra increases to an average of $2,830. That’s an increase of $1,716, or $143 per month, just for not being more responsible behind the wheel!
Does full coverage make sense?
Finding the cheapest insurance is the goal of the majority of people, and an easy way to pay lower rates for insurance for a Hyundai Elantra is to only buy liability insurance. The illustration below compares insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The rate quotes are based on no driving violations, no at-fault accidents, $500 deductibles, single marital status, and no policy discounts are applied.
If we average all the age groups together, comprehensive and collision coverage on your policy costs $1,482 per year over and above liability coverage. That raises the question if full coverage is worth the money. There is no definitive formula to drop physical damage coverage, but there is a general school of thought. If the annual cost of having full coverage is more than 10% of the replacement cost minus the deductible, then it could be time to drop full coverage.
For example, let’s assume your vehicle’s settlement value is $8,500 and you have $1,000 policy deductibles. If your vehicle is severely damaged, you would only receive $7,500 after paying the physical damage deductible. If you are currently paying more than $750 annually for full coverage, then you may want to consider only buying liability coverage.
How to find low-cost insurance for a Hyundai Elantra
It’s not impossible to find cheaper rates, and here are a few penny-pinching suggestions that can help North Carolina drivers find low-cost coverage.
- Raise deductibles to save money
- Avoid filing excessive claims
- Buying home and auto insurance together can earn discounts
- Better credit scores save money
- Serious violations like DUI or reckless driving can increase rates dramatically
- Do not get into accidents that are your fault
- Compare prices frequently to find the best deal
The last tip is notably crucial, as was noted in the prior article. Prices charged by car insurance companies fluctuate constantly, so don’t be hesitant to switch to a new company if a more affordable price is available.
Many consumers stick with the same company and that’s fine, but it’s not a great idea if that inflexibility results in costing you lots of hard earned cash every month. In just a couple of minutes you could compare prices and find cheaper car insurance for a Hyundai Elantra in Charlotte.
If you aren’t sure which coverage to buy and prefer to have professional advice when trying to find lower insurance rates for a Hyundai Elantra, the agents shown below can aid you in deciding which policy is best. To locate an agency closest to you, click the button link following the list or click here to compare price quotes.
- George Pettice – State Farm Insurance Agent
820 Tyvola Rd #103 – Charlotte, NC 28217 – (704) 523-1717 - Craig and Preston Insurance Agency
2210 Coronation Blvd Suite A – Charlotte, NC 28227 – (704) 321-2900 - Todd Younker – State Farm Insurance Agent
7725 Matthews-Mint Hill Road – Charlotte, NC 28227 – (704) 545-9111 - Nationwide Insurance – William Laurie Agency
8820 University E Dr Ste B – Charlotte, NC 28213 – (704) 945-2331