How to Save on Hyundai Santa Fe Insurance in Charlotte

Sadly, the vast majority of car insurance customers in North Carolina renewed their policy with the same company for four years or more, and virtually 40% of consumers have never shopped around. U.S. consumers could cut their rates by roughly 47% a year by just comparing quotes, but they assume it’s a waste of time to compare rates online.

If you want to save the most money, the best way to find the cheapest price for car insurance rates in Charlotte is to compare prices regularly from insurance carriers who sell insurance in North Carolina.

First, try to understand how insurance companies determine prices and the things you can change to keep rates down. Many risk factors that drive up the price such as at-fault accidents, speeding tickets, and a less-than-favorable credit rating can be eliminated by making minor driving habit or lifestyle changes. This article gives tips to help prevent expensive coverage and find discounts that you may qualify for.

Second, request rate estimates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from a single company like Progressive or State Farm, while independent agencies can quote rates from multiple sources.

Third, compare the price quotes to your current policy premium to see if a cheaper rate is available. If you can save money and decide to switch, make sure coverage is continuous and does not lapse.

Fourth, give proper notification to your current agent or company of your decision to cancel your existing policy. Submit a signed application and payment for the new coverage. Once the paperwork is finalized, keep your new certificate of insurance in a readily accessible location in your vehicle.

The critical component of shopping around is to compare the same coverage limits and deductibles on every quote request and to quote with as many car insurance companies as possible. This helps ensure a level playing field and the best rate selection.

Most companies allow you to get prices for coverage from their websites. Comparing Hyundai Santa Fe insurance rates online is fairly simple as you simply enter your required coverages into the quote form. When the form is submitted, the company’s rating system collects information on your driving record and credit history and generates a price determined by many factors.

Using the web to get rates for Hyundai Santa Fe insurance in Charlotte makes comparing rates easy, and it’s very important to perform this step in order to find cheap car insurance pricing.

To save time and find out if lower rates are available, compare rate quotes from the providers shown below. If you currently have coverage, we recommend you enter the coverages as shown on your current policy. Using the same limits helps guarantee you will have a rate comparison based on identical coverages.

The car insurance companies shown below are ready to provide comparison quotes in Charlotte, NC. To get cheaper auto insurance in NC, we suggest you visit several of them to get the cheapest price.

Hyundai Santa Fe insurance coverage information

The coverage information shown below highlights a range of insurance costs for Hyundai Santa Fe models. Having a good understanding how insurance policy premiums are figured helps drivers make decisions on the best policy to buy.

Prices based on 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, claim-free, multi-vehicle, homeowner, and multi-policy. Price estimates do not factor in specific location which can increase or decrease price quotes substantially.

Can higher deductibles save money?

One of the more difficult decisions when buying car insurance is which deductible level should you buy. The tables below highlight the premium difference between high and low insurance deductibles. The first table uses a $100 deductible for comprehensive and collision coverage and the second set of prices uses a $500 deductible.

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and North Carolina minimum liability limits. Discounts applied include claim-free, safe-driver, multi-vehicle, multi-policy, and homeowner. Premium costs do not factor in the specific area where the vehicle is garaged which can modify coverage prices noticeably.

Based on this data, using a $100 deductible could cost the average driver approximately $18 more each month or $216 for a full year averaged for all Santa Fe models than opting for the higher $500 deductible. Due to the fact that you would have to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you average at a minimum 22 months between claims, you would probably be better off if you elect the higher deductible.

Learn How to Find Car Insurance Cheaper

It’s important that you understand some of the elements that play a part in calculating the price you pay for car insurance. If you understand what controls the rates you pay, this enables you to make decisions that will entitle you to better car insurance rates.

• Insurance costs are higher for high performance vehicles – The performance level of the car or truck you need insurance for makes a huge difference in your premium level. The most favorable rates will normally be found when insuring low performance passenger cars, but your final cost has many other factors.

  The following data uses these variables: single male driver age 40, full coverage with $500 deductibles, and no discounts or violations. It illustrates Hyundai Santa Fe insurance premiums compared to other models of vehicles that have a range of performance rating factors.

• Is auto insurance cheaper for women or men? – Over the last 30 years, statistics show that females take fewer risks when driving. It does not mean males are worse at driving than females. Women and men cause fender benders in similar numbers, but the male of the species have accidents that have higher claims. Not only are claims higher, but men get ticketed for serious violations such as DWI and reckless driving. Youthful male drivers tend to get in the most accidents and thus pay the highest rates.

  The diagram below shows the comparison of Hyundai Santa Fe insurance premiums for male and female drivers. The data is based on no claims or driving citations, comp and collision included, $500 deductibles, single status, and no discounts are factored in.

• Get better rates if married – Getting married may cut your premiums on your car insurance bill. Having a significant other demonstrates that you tend to be more responsible and it’s statistically proven that drivers who are married are more cautious.
• Insurance companies don’t like frequent insurance claims – Insurance companies in North Carolina generally give most affordable rates to drivers who are not frequent claim filers. If you file claims often, you can definitely plan on either a policy non-renewal or much higher rates. Auto insurance is designed for more catastrophic claims.
• Your employer and car insurance rates – Careers such as judges, social workers, and accountants are shown to have the highest rates in part from high stress levels and long work hours. On the other hand, professions such as scientists, students and the unemployed get better rates.
• Know your vehicle’s safety rating – Vehicles with high crash test scores tend to have lower insurance rates. Vehicles engineered for safety reduce injuries and fewer injuries means less claims paid and more competitive rates for policyholders.
• No coverage gaps is important – Having a lapse in insurance coverage is a fast way to increase your rates. In addition to paying higher rates, getting caught without coverage could earn you fines or a revoked license. You may then be required to prove you have insurance by filing a SR-22 with the North Carolina motor vehicle department.
• Policy add-ons add up – There are a lot of add-on coverages that you can get tricked into buying on your Santa Fe policy. Add-on coverages like coverage for rental cars, accident forgiveness, and additional equipment coverage are examples of these. They may seem good initially, but if you don’t need them get rid of them and save.

• Insurance loss statistics a Hyundai Santa Fe – Insurance companies use claims history to help determine the price you pay. Models that tend to have higher losses will have a higher cost to insure.

  The next table shows the actual insurance loss data for Hyundai Santa Fe vehicles. For each coverage category, the claim amount for all vehicles, as an average, is considered to be 100. Percentage values below 100 mean the vehicle has better than average losses, while numbers above 100 point to more losses or an increased likelihood of larger losses.

  
  

  Auto Insurance Loss Data for Hyundai Santa Fe Models

  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

  BETTER

  AVERAGE

  WORSE

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

Here’s why insurance is not optional

Despite the high cost, paying for insurance is mandatory in North Carolina but it also protects more than you think.

First, almost all states have minimum liability requirements which means it is punishable by state law to not carry a minimum amount of liability protection if you don’t want to risk a ticket. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.

Second, if you bought your Santa Fe with a loan, most lenders will force you to have insurance to guarantee payment of the loan. If you let the policy lapse, the bank may buy a policy for your Hyundai for a much higher rate and require you to pay the higher price.

Third, insurance protects both your car and your personal assets. It will also pay for medical transport and hospital expenses for yourself as well as anyone injured by you. Liability insurance, one of your policy coverages, also pays for attorney fees and expenses if anyone sues you for causing an accident. If mother nature or an accident damages your car, comprehensive and/or collision insurance will cover the repair costs.

The benefits of carrying adequate insurance are without a doubt worth the cost, especially for larger claims. Today the average American driver is wasting up to $850 per year so shop around once a year at a minimum to help ensure money is not being wasted.