Find Affordable Hyundai Elantra Insurance in Lubbock

  1. Home
  2. >
  3. Lubbock Auto Insurance
  4. >
  5. Hyundai Elantra

Really, the only way to get discount car insurance rates in Lubbock is to start comparing prices yearly from insurers who sell insurance in Texas. Rate comparisons can be done by following these steps.

  • Step 1: It will benefit you to learn about how your policy works and the factors you can control to drop your rates. Many risk factors that are responsible for high rates such as multiple speeding tickets and poor credit can be controlled by making lifestyle changes or driving safer. Later in this article we will cover more ideas to prevent high prices and get additional discounts.
  • Step 2: Quote rates from exclusive agents, independent agents, and direct providers. Direct and exclusive agents can only give rate quotes from a single company like GEICO or Allstate, while independent agencies can provide prices from many different companies.
  • Step 3: Compare the new rate quotes to your existing rates and see if you can save money. If you find a better price and switch companies, make sure coverage is continuous and does not lapse.
  • Step 4: Give proper notification to your current agent or company to cancel your current auto insurance policy and submit the required down payment along with the signed application to your new insurance company. As soon as coverage is bound, store the certificate verifying coverage along with the vehicle's registration papers.

The most important part of shopping around is to try to use similar deductibles and liability limits on each price quote and and to get rate quotes from all possible companies. This helps ensure an accurate price comparison and many rates to choose from.

Insurance for Hyundai ElantraA recent study showed that a large majority of drivers have been with the same company for a minimum of four years, and just short of a majority have never compared rates from other carriers. Most drivers in Texas can save hundreds of dollars each year by just comparing quotes, but they don't believe the big savings they would realize if they switched.

Insurance coverage analysis

The premium table displayed next highlights different coverage costs for Hyundai Elantra models. Having a better idea how car insurance premiums are formulated can be useful when making decisions when shopping your coverage around.

Hyundai Elantra Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $204 $378 $392 $24 $118 $1,116 $93
Elantra Blue 4-Dr Sedan $204 $542 $462 $28 $138 $1,374 $115
Elantra GLS 4-Dr Sedan $234 $542 $462 $28 $138 $1,404 $117
Elantra SE 4-Dr Sedan $234 $542 $462 $28 $138 $1,404 $117
Elantra SE Touring Station Wagon $234 $460 $392 $24 $118 $1,228 $102
Get Your Own Custom Quote Go

Table data represents single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, multi-vehicle, homeowner, safe-driver, and claim-free. Premium amounts do not factor in Lubbock location which can increase or decrease rates substantially.

Deductible comparison

One of the hardest decisions when shopping for insurance is where should you set your physical damage deductibles. The following tables can help you visualize the premium difference of buying low and high coverage deductibles. The first rate estimation uses a $250 physical damage deductible and the second set of rates uses a $1,000 deductible.

Hyundai Elantra insurance premium estimates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $256 $408 $324 $20 $96 $1,129 $94
Elantra Blue 4-Dr Sedan $256 $584 $382 $22 $114 $1,383 $115
Elantra GLS 4-Dr Sedan $294 $584 $382 $22 $114 $1,421 $118
Elantra SE 4-Dr Sedan $294 $584 $382 $22 $114 $1,421 $118
Elantra SE Touring Station Wagon $294 $496 $324 $20 $96 $1,255 $105
Get Your Own Custom Quote Go
Hyundai Elantra insurance premium estimates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $158 $256 $324 $20 $96 $854 $71
Elantra Blue 4-Dr Sedan $158 $368 $382 $22 $114 $1,044 $87
Elantra GLS 4-Dr Sedan $182 $368 $382 $22 $114 $1,068 $89
Elantra SE 4-Dr Sedan $182 $368 $382 $22 $114 $1,068 $89
Elantra SE Touring Station Wagon $182 $312 $324 $20 $96 $934 $78
Get Your Own Custom Quote Go

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, safe-driver, and multi-vehicle. Price information does not factor in the specific area where the vehicle is garaged which can affect premium rates substantially.

Based on this data, using a $250 deductible will cost you roughly $27 more each month or $324 every year averaged for all Elantra models than selecting the higher $1,000 deductible. Since you would pay $750 more if you file a claim with a $1,000 deductible as compared to a $250 deductible, if you usually have at least 28 months between claims, you would more than likely save some money if you decide on a higher deductible.

How to decide to raise your deductibles

Average monthly premium for $250 deductibles: $110
Average monthly premium for $1,000 deductibles (subtract): - $83
Monthly savings from raising deductible: $27
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $27
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 28 months

One important issue to know is that a higher deductible level means you will have to pay more of your own money when you do file a claim. That will require some non-essential savings in the event you need to pay more to get your vehicle repaired.

Hyundai Elantra insurance rates: Men versus women

The illustration below illustrates the difference between Hyundai Elantra insurance costs for male and female drivers. The price estimates are based on no violations or accidents, comprehensive and collision coverage, $500 deductibles, single status, and no discounts are applied.

Hyundai Elantra liability-only versus full coverage

The diagram below shows the difference between Hyundai Elantra premium costs when comparing full coverage to state minimum liability only. The premiums are based on no claims or driving violations, $250 deductibles, single marital status, and no additional discounts are factored in.

When to drop comprehensive and collision

There is no definitive guideline for dropping physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is about 10% or more of the replacement cost minus the deductible, then you might consider buying liability only.

For example, let's say your Hyundai Elantra claim settlement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $5,000 after paying your deductible. If premium cost is more than $500 a year for full coverage, then you may want to consider only buying liability coverage.

There are a few cases where removing full coverage is not advised. If you haven't satisfied your loan, you have to carry full coverage in order to satisfy the requirements of the loan. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is totaled, you should not opt for liability only.

Informed Consumers Can Slash Their Insurance Premiums

Lots of things are considered when quoting car insurance. A few of the factors are predictable such as your driving history, although others are not as apparent such as whether you are married or how financially stable you are.

  • City traffic equals higher prices - Living in small towns and rural areas is a positive aspect if you are looking for the lowest rates. Fewer drivers on the road means a lower chance of having an accident and lower theft and vandalism rates. People who live in big cities regularly have more aggressive driving styles and longer commute times. More time commuting means more chances of being involved in an auto accident.
  • Good drivers pay less - Whether or not you get tickets influences premium rates substantially. Having just one speeding ticket or other violation could increase your next policy renewal forty percent or more. Drivers with clean records get better prices compared to drivers with tickets. Drivers with severe tickets like DUI, reckless driving or excessive speeding are required to submit a SR-22 form to the state department of motor vehicles in order to prevent a license revocation.

    The example below shows how violations and at-fault claims drive up Hyundai Elantra auto insurance costs for each age group. The information is based on a married male driver, full coverage, $1,000 deductibles, and no policy discounts are applied.

  • Rate your vehicle for proper use - The higher the mileage driven in a year the higher your rates will be. A lot of insurance companies apply a rate based on their usage. Autos that sit idle most of the time cost less to insure as compared to vehicles used primarily for driving to work. Having the wrong rating on your Elantra can result in significantly higher rates. Ask your agent if your auto insurance coverage properly reflects the proper vehicle usage.
  • Alarm systems systems cut prices - Driving a car with a theft deterrent system can get you a discount on your auto insurance. Anti-theft devices such as LoJack tracking devices, vehicle tamper alarm systems or GM's OnStar system can thwart auto theft and help lower rates.
  • Pay more for higher performance vehicles - The make and model of the car you drive makes a substantial difference in the rate you pay. The lowest rates will generally be found on lower performance four cylinder passenger cars, but the cost you end up paying is determined by many additional factors.

    The following data uses these assumptions: single male driver age 40, full coverage with $500 deductibles, and no discounts or violations. It shows Hyundai Elantra rates compared to other vehicles that have a range of performance rating factors.

  • Insurance loss data for Hyundai Elantra vehicles - Companies use past loss statistics for each vehicle as a way to help calculate a profitable premium price. Models that the data determines to have higher prevalence or dollar amount of losses will have higher rates. The next table illustrates the historical loss data for Hyundai Elantra vehicles.

    For each policy coverage type, the claim amount for all vehicles, as a total average, is considered to be 100. Numbers under 100 suggest losses that are better than average, while percentages above 100 indicate a higher chance of having a claim or statistically larger losses.

    Hyundai Elantra Insurance Loss Statistics
    Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Hyundai Elantra 102 102 90 133 137 117
    Hyundai Elantra GT 95 91 95 112 114 107
    BETTER
    AVERAGE
    WORSE

    Statistics from IIHS.org for 2013-2015 Model Years

Quote more and you will save more

We just presented many tips how you can get a better price on Hyundai Elantra insurance in Lubbock. The most important thing to understand is the more times you quote, the better your chances of lowering your prices. You may even discover the lowest premium rates are with the smaller companies.

People change insurance companies for many reasons like poor customer service, delays in responding to claim requests, policy non-renewal or extreme rates for teen drivers. Regardless of your reason, switching insurance companies is actually quite simple.

Some insurance providers may not offer online rate quotes and usually these smaller providers only sell coverage through independent agents. Lower-priced Hyundai Elantra insurance in Lubbock can be found from both online companies and with local Lubbock insurance agents, and you should compare rates from both to have the best chance of lowering rates.

Much more information about insurance in Texas can be found on the following sites: