Car Insurance Quotes for a Hyundai Veracruz in Lubbock

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It's well known that car insurance companies don't want you quoting rates from other companies. Consumers who shop around for cheaper price quotes will presumably buy a different policy because they have a good chance of finding a lower-priced company. A study discovered that drivers who shopped around annually saved an average of $865 a year compared to people who never shopped around for cheaper prices.

If saving the most money on insurance is your objective, then having a grasp of the best ways to find and compare insurance coverage can help you succeed in finding affordable rates.

Insurance for Hyundai VeracruzIt takes a little time, but the best way to find better pricing on auto insurance rates is to make a habit of regularly comparing prices from insurers in Lubbock.

First, try to understand the different coverages in a policy and the measures you can control to prevent rate increases. Many things that cause high rates like traffic violations and your credit history can be controlled by being financially responsible and driving safely. This article provides more information to help prevent costly coverage and find additional discounts you may qualify for.

Second, get rate quotes from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only give prices from a single company like Progressive or Allstate, while independent agencies can give you price quotes from multiple insurance companies.

Third, compare the quotes to your current policy to see if a cheaper rate is available in Lubbock. If you find better rates and change companies, make sure coverage is continuous and does not lapse.

Fourth, provide proper notification to your current company to cancel your current car insurance policy. Submit the completed application along with a down payment to the new insurer. Once the application is submitted, safely store the certificate verifying proof of insurance above your visor, in the console, or in the glove compartment.

One thing to remember is to use the same liability limits and deductibles on each price quote and and to get rate quotes from as many carriers as you can. This guarantees an apples-to-apples comparison and many rates to choose from.

Low cost Lubbock Hyundai Veracruz insurance quotes online

It's important to know that comparing more rates from different companies increases your odds of finding a lower rate.

The providers in the list below provide comparison quotes in Lubbock, TX. To buy cheaper car insurance in Lubbock, we suggest you visit as many as you can to get the best price comparison.

You may qualify for discounts for Hyundai Veracruz insurance in Lubbock

The cost of insuring your cars can be expensive, but you may qualify for discounts that could help you make your next renewal payment. A few discounts will be applied at the time of quoting, but occasionally some discounts must be requested specifically prior to receiving the credit.Cheaper auto insurance with discounts

  • No Claim Discounts - Lubbock drivers who stay claim-free are rewarded with significantly better rates on Lubbock auto insurance quote when compared with accident-prone drivers.
  • Service Members Pay Less - Being on active deployment in the military may qualify for rate reductions.
  • Theft Prevention Discount - Anti-theft and alarm system equipped vehicles are less likely to be stolen and earn discounts up to 10% off your Lubbock auto insurance quote.
  • Telematics Data - Lubbock drivers who agree to allow companies to spy on when and where they use their vehicle remotely like Allstate's Drivewise could possibly reduce rates if they have good driving habits.
  • Own a Home - Owning a house in Lubbock can get you a discount due to the fact that maintaining a home shows financial diligence.
  • Distant Student - Older children who attend college more than 100 miles from Lubbock and do not have access to a covered vehicle could qualify for this discount.

One last thing about discounts, most of the big mark downs will not be given to your bottom line cost. Most cut individual premiums such as comprehensive or collision. So even though you would think all the discounts add up to a free policy, company stockholders wouldn't be very happy.

The diagram below visualizes the comparison of Hyundai Veracruz auto insurance costs with and without some available policy discounts. The costs are based on a male driver, no claims or driving violations, Texas state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, multi-car, marriage, multi-policy, and claim-free discounts applied.

A list of auto insurance companies and some of the discounts are shown below.

  • State Farm offers discounts including accident-free, multiple autos, driver's education, good driver, student away at school, and passive restraint.
  • Farmers Insurance includes discounts for early shopping, youthful driver, teen driver, switch companies, mature driver, and bundle discounts.
  • Progressive policyholders can earn discounts including homeowner, multi-policy, online signing, continuous coverage, good student, and multi-vehicle.
  • GEICO may offer discounts for five-year accident-free, daytime running lights, air bags, driver training, membership and employees, and military active duty.
  • Auto-Owners Insurance may have discounts that include group or association, good student, air bags, anti-theft, anti-lock brakes, and paperless.
  • The Hartford discounts include driver training, air bag, defensive driver, anti-theft, bundle, and good student.
  • Farm Bureau has discounts for safe driver, driver training, multi-policy, 55 and retired, youthful driver, and renewal discount.
  • USAA offers premium reductions for new vehicle, vehicle storage, defensive driver, annual mileage, loyalty savings, safe driver, and multi-vehicle.

If you need lower rates, check with all companies you are considering to apply every possible discount. Discounts may not be available in your area. If you would like to choose from a list of auto insurance companies with the best discounts in Texas, click here.

Hyundai Veracruz insurance rates and statistics

The price information shown next covers detailed analysis of policy rates for Hyundai Veracruz models. Being able to understand how insurance prices are determined can help customers make informed decisions when comparing rate quotes.

Hyundai Veracruz Insurance Rates in Lubbock, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Veracruz GLS 2WD $230 $452 $422 $24 $126 $1,254 $105
Veracruz GLS AWD $260 $452 $422 $24 $126 $1,284 $107
Veracruz Limited 2WD $260 $532 $422 $24 $126 $1,364 $114
Veracruz Limited AWD $260 $532 $422 $24 $126 $1,364 $114
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Table data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, multi-vehicle, and safe-driver. Price information does not factor in specific Lubbock garaging location which can lower or raise premiums significantly.

Rate comparison for different deductibles

When shopping for car insurance, a common question is which deductible level should you buy. The following insurance rates determine the cost difference between high and low physical damage coverage deductibles. The first table uses a $250 deductible and the second price table uses a $1,000 deductible.

Hyundai Veracruz insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Veracruz GLS 2WD $294 $496 $324 $20 $96 $1,255 $105
Veracruz GLS AWD $332 $496 $324 $20 $96 $1,293 $108
Veracruz Limited 2WD $332 $584 $324 $20 $96 $1,381 $115
Veracruz Limited AWD $332 $584 $324 $20 $96 $1,381 $115
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Hyundai Veracruz insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Veracruz GLS 2WD $182 $312 $324 $20 $96 $934 $78
Veracruz GLS AWD $206 $312 $324 $20 $96 $958 $80
Veracruz Limited 2WD $206 $368 $324 $20 $96 $1,014 $85
Veracruz Limited AWD $206 $368 $324 $20 $96 $1,014 $85
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include multi-policy, claim-free, homeowner, safe-driver, and multi-vehicle. Price information does not factor in specific zip code location which can lower or raise prices greatly.

Based on these figures, using a $250 deductible will cost you approximately $29 more each month or $348 for a full year averaged for all Veracruz models than choosing the higher $1,000 deductible. Due to the fact that you would have to pay $750 more out-of-pocket with a $1,000 deductible as compared to a $250 deductible, if you tend to go more than 26 months between claim filings, you would come out ahead by going with a higher deductible. The numbers below show a better example of how you can come to your own conclusion.

Average monthly premium for $250 deductibles: $111
Average monthly premium for $1,000 deductibles (subtract): - $82
Monthly savings from raising deductible: $29
Difference between deductibles ($1,000 - $250): $750
Divide difference by monthly savings: $750 / $29
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 26 months

One important note is that a higher deductible level means you will have to pay more out-of-pocket if you have a claim. You should have enough extra money in order to pay the higher deductible.

Full coverage versus liability only rates

The diagram below illustrates the comparison of Hyundai Veracruz insurance prices with full physical damage coverage compared to only buying the minimum liability limits required in Texas. The prices are based on no claims or driving violations, $100 deductibles, drivers are single, and no discounts are applied.

When to switch to liability coverage only

There is no definitive formula to stop buying comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is more than about 10% of replacement cost minus your deductible, then it's probably a good time to buy liability coverage only.

For example, let's assume your Hyundai Veracruz replacement value is $7,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would receive is $6,000 after you pay the deductible. If you are paying in excess of $600 a year for full coverage, then you might want to think about dropping full coverage.

There are a few situations where only buying liability is not financially feasible. If you haven't paid off your loan, you must maintain physical damage coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should keep full coverage on your policy.

Find Hyundai Veracruz Insurance at a Discount

Lots of factors are used in the calculation when quoting car insurance. Some are pretty understandable like a motor vehicle report, although others are more transparent such as whether you are married and annual miles driven. A large part of saving on insurance is knowing the rating factors that help calculate your insurance rates. If you know what controls the rates you pay, this helps enable you to make changes that will entitle you to lower rates.

  • Your credit score is important - Having a bad credit history is likely to be a major factor in determining your rates. Therefore, if your credit score is not that good, you may save money insuring your Hyundai Veracruz by spending a little time repairing your credit. Consumers who have high credit scores tend to be better drivers and file fewer claims as compared to drivers with lower ratings.
  • Tickets are costly - Drivers who don't get tickets tend to pay less for car insurance than people who have multiple driving citations. Having a single moving violation can increase the cost of insurance by as much as twenty percent. Drivers with dangerous tickets like hit and run, DWI or reckless driving convictions may face state-mandated requirements to file a SR-22 with their state's licensing department in order to prevent a license revocation.

    The illustration below shows how violations and at-fault collisions can affect Hyundai Veracruz insurance costs for different age groups. The rate quotes are based on a married male driver, comp and collision included, $1,000 deductibles, and no discounts are applied.

  • Performance impacts insurance rates - The performance level of the vehicle you need to insure makes a significant difference in your auto insurance rates. Smaller low performance passenger cars generally receive the lowest base rates, but your final cost has many other factors.

    The following data is based on a married female driver age 20, full coverage with $100 deductibles, and no discounts or violations. It compares Hyundai Veracruz rates compared to other models that have different performance rating factors.

  • Insurance premiums and driver gender - Over time, data shows women are more cautious behind the wheel. Now that doesn't mean females are better at driving than males. Females and males cause at-fault accidents at a similar rate, but the males cause more damage. In addition to higher claims, males also receive more costly citations such as DWI and reckless driving. Youthful male drivers generally have the highest accident percentage so it costs more to insure them.

    The illustration below visualizes the comparison of Hyundai Veracruz insurance rates for male and female drivers. The premiums assume no claims or violations, comprehensive and collision coverage, $250 deductibles, marital status is single, and no policy discounts are applied.

  • Always keep your insurance policy in place - Driving any period of time without insurance is a big no-no and companies may charge more for letting your insurance expire. Not only will you pay higher rates, getting caught without coverage can result in a steep fine or even jail time. Then you may be required to provide proof of insurance in the form of an SR-22 filing with the Texas department of motor vehicles.
  • Insurance claims cost money - If you are a frequent claim filer, you can expect either higher rates or even cancellation. Insurance companies in Texas provide the lowest premiums to policyholders who file claims infrequently. Your insurance policy is intended to be relied upon for claims that you cannot pay yourself.
  • High physical damage deductibles lower premiums - The deductibles you choose tell how much you are required to spend in the event of a claim. Insurance for physical damage to your car, otherwise known as comp (or other than collision) and collision, insures against damage to your car. Some coverage claims would be colliding with a stationary object, collision with a deer, and damage caused by road hazards. The more the insured is willing to pay, the less money you will pay for insurance.