How to Save on Hyundai Genesis Insurance in Toledo

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Insurance quote for Hyundai Genesis in ToledoIt's safe to assume that insurance companies want to keep your business as long as possible. People who compare rates once a year will presumably switch to a new company because they have a good chance of finding good coverage at a lower price. A survey found that drivers who compared prices regularly saved as much as $72 a month compared to people who never compared other company's rates.

If finding the most affordable Hyundai Genesis insurance is your intention, then learning about how to shop and compare auto insurance can help make the process easier and more efficient.

The preferred way to get cheaper Hyundai Genesis insurance in Toledo is to start comparing rates regularly from companies who provide car insurance in Ohio.

Step 1: Learn about what coverages are included in your policy and the measures you can control to prevent high rates. Many policy risk factors that increase rates such as accidents, traffic tickets, and a less-than-favorable credit rating can be remedied by making lifestyle changes or driving safer.

Step 2: Compare prices from direct, independent, and exclusive agents. Direct companies and exclusive agencies can give quotes from one company like Progressive or Farmers Insurance, while independent agencies can quote prices for a wide range of insurance providers.

Step 3: Compare the quotes to your current policy to see if a cheaper rate is available. If you can save some money, make sure there is no lapse between the expiration of your current policy and the new one.

Step 4: Provide notification to your current agent or company to cancel the current policy and submit a down payment along with a completed application to the new company. Once the application is submitted, keep your new certificate verifying coverage with the vehicle registration.

One bit of advice is that you use identical deductibles and limits on every quote request and and to analyze every company you can. Doing this guarantees an apples-to-apples comparison and a complete price analysis.

Choices You Make Can Impact Your Insurance Rates

One of the most helpful ways to save on insurance is to to have a grasp of the factors that help determine your policy premiums. If you know what determines base rates, this allows you to make good choices that could result in lower rates.

Liability protection is important - Liability coverage is the coverage that protects you when a court rules you are at fault for causing damage or personal injury in an accident. It will provide legal defense coverage to defend your case. Carrying liability coverage is mandatory and cheap compared to insuring for physical damage coverage, so buy as much as you can afford.

Teenagers vs. older drivers - More experienced drivers tend to be more responsible, tend to cause fewer accidents, and are generally more financially stable. Drivers with little experience are statistically proven to be less responsible in a vehicle therefore insurance rates are much higher.

The data below is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.

Cheaper insurance rates for prior coverage - Going without insurance can be a quick way to drive up your policy premiums. Not only will you pay higher rates, failure to provide proof of insurance might get you fines or a revoked license.

Does your occupation raise your premiums? - Occupations like lawyers, business owners, and emergency personnel generally have the highest average rates because of intense work requirements and lots of time spent at work. On the flip side, careers such as professors, students and the unemployed receive lower rates.

Hyundai Genesis insurance claim data - Insurers factor in insurance loss information to calculate a rate that will offset any claims. Models that the data shows to have higher loss trends will have higher rates. The table below illustrates the insurance loss data for Hyundai Genesis vehicles.

For each insurance policy coverage type, the statistical loss for all vehicles, without regard to make or model, equals 100. Numbers under 100 indicate a favorable loss history, while values over 100 indicate higher probability of having a loss or an increased chance of larger losses than average.

Insurance Loss Ratings for Hyundai Genesis Vehicles
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

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

Car insurance statistics for a Hyundai Genesis

The rate table displayed below showcases estimates of coverage costs for Hyundai Genesis models. Being aware of how insurance premiums are formulated can assist in making informed decisions when shopping around for a new policy.

Hyundai Genesis Insurance Rates in Toledo, OH
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Genesis 2.0T 2-Dr Coupe $160 $324 $284 $16 $84 $868 $72
Genesis 3.8 4-Dr Sedan $180 $280 $192 $12 $58 $722 $60
Genesis 2.0T Premium 2-Dr Coupe $180 $324 $284 $16 $84 $888 $74
Genesis 3.8 2-Dr Coupe $180 $324 $284 $16 $84 $888 $74
Genesis 2.0T Track 2-Dr Coupe $180 $324 $284 $16 $84 $888 $74
Genesis 3.8 Grand Touring 2-Dr Coupe $180 $324 $284 $16 $84 $888 $74
Genesis 4.6 4-Dr Sedan $180 $324 $192 $12 $58 $766 $64
Genesis 3.8 Track 2-Dr Coupe $180 $366 $284 $16 $84 $930 $78
Get Your Own Custom Quote Go

Price data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Ohio minimum liability limits. Discounts applied include multi-policy, safe-driver, multi-vehicle, homeowner, and claim-free. Rate information does not factor in specific Toledo garaging location which can alter insurance rates considerably.

Rate comparison for different deductibles

When buying car insurance, a common question is where should you set your physical damage deductibles. The tables below determine the premium difference when you select higher and lower policy deductibles. The first pricing table uses a $250 physical damage coverage deductible and the second pricing table uses a $500 deductible.

Hyundai Genesis insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Genesis 2.0T 2-Dr Coupe $198 $400 $284 $16 $84 $1,007 $84
Genesis 3.8 4-Dr Sedan $220 $348 $192 $12 $58 $855 $71
Genesis 2.0T Premium 2-Dr Coupe $220 $400 $284 $16 $84 $1,029 $86
Genesis 3.8 2-Dr Coupe $220 $400 $284 $16 $84 $1,029 $86
Genesis 2.0T Track 2-Dr Coupe $220 $400 $284 $16 $84 $1,029 $86
Genesis 3.8 Grand Touring 2-Dr Coupe $220 $400 $284 $16 $84 $1,029 $86
Genesis 4.6 4-Dr Sedan $220 $400 $192 $12 $58 $907 $76
Genesis 3.8 Track 2-Dr Coupe $220 $454 $284 $16 $84 $1,083 $90
Get Your Own Custom Quote Go
Hyundai Genesis insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Genesis 2.0T 2-Dr Coupe $160 $324 $284 $16 $84 $868 $72
Genesis 3.8 4-Dr Sedan $180 $280 $192 $12 $58 $722 $60
Genesis 2.0T Premium 2-Dr Coupe $180 $324 $284 $16 $84 $888 $74
Genesis 3.8 2-Dr Coupe $180 $324 $284 $16 $84 $888 $74
Genesis 2.0T Track 2-Dr Coupe $180 $324 $284 $16 $84 $888 $74
Genesis 3.8 Grand Touring 2-Dr Coupe $180 $324 $284 $16 $84 $888 $74
Genesis 4.6 4-Dr Sedan $180 $324 $192 $12 $58 $766 $64
Genesis 3.8 Track 2-Dr Coupe $180 $366 $284 $16 $84 $930 $78
Get Your Own Custom Quote Go

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Ohio minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, homeowner, and safe-driver. Price estimates do not factor in specific location which can influence premium rates greatly.

Based on this data, using a $250 deductible will cost in the ballpark of $12 more each month or $144 a year than selecting the higher $500 deductible. Since you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you go at a minimum 21 months between claims, you would come out ahead if you choose the higher deductible.

How to calculate deductible break even period

Average monthly premium for $250 deductibles: $83
Average monthly premium for $500 deductibles (subtract): - $71
Monthly savings from raising deductible: $12
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $12
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 21 months

An important sidenote is that increasing deductibles to save money means you will have to pay more of your own money when you do file a claim. You should have enough disposable savings in the event you have to pay the deductible to have repairs made.

Car insurance premiums based on gender

The example below illustrates the difference between Hyundai Genesis premium costs for male and female drivers. The rate quotes are based on no claims or driving violations, full physical damage coverage, $100 deductibles, drivers are not married, and no discounts are applied.

Get cheaper Hyundai Genesis insurance in Toledo with discounts

Insurance can cost an arm and a leg, but you might be missing out on some discounts that can drop the cost substantially. Most are applied at the time you complete a quote, but some must be specifically requested before being credited.Save money with discounts

  • Full Payment Discount - If you can afford to pay the entire bill rather than paying in monthly installments you can avoid monthly service charges.
  • 55 and Retired - Mature drivers may receive a slight reduction on a Toledo auto insurance quote.
  • Defensive Driver - Taking part in a course teaching defensive driver skills could cut 5% off your bill and easily recoup the cost of the course.
  • Passive Restraints and Air Bags - Vehicles equipped with air bags may earn rate discounts up to 30%.
  • Multiple Vehicles - Having multiple cars or trucks on one policy can get a discount for every vehicle.

Consumers should know that many deductions do not apply to the overall cost of the policy. Some only reduce specific coverage prices like comp or med pay. Just because you may think it's possible to get free car insurance, you won't be that lucky.

The diagram below shows the difference between Hyundai Genesis insurance rates with and without discounts applied to the policy rates. The costs are based on a female driver, no claims or driving violations, Ohio state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-policy, multi-car, homeowner, safe-driver, claim-free, and marriage discounts applied.

A list of companies and a selection of discounts are shown below.

  • State Farm has savings for safe vehicle, multiple autos, Drive Safe & Save, driver's education, and accident-free.
  • American Family has discounts for mySafetyValet, good student, air bags, bundled insurance, and TimeAway discount.
  • AAA may offer discounts for good student, pay-in-full, education and occupation, anti-theft, good driver, AAA membership discount, and multi-policy.
  • GEICO discounts include good student, anti-lock brakes, military active duty, federal employee, emergency military deployment, and seat belt use.
  • Mercury Insurance includes discounts for multi-car, professional/association, age of vehicle, good driver, low natural disaster claims, type of vehicle, and good student.
  • Farmers Insurance may include discounts for electronic funds transfer, early shopping, alternative fuel, teen driver, homeowner, and pay in full.
  • Progressive offers discounts including online signing, continuous coverage, homeowner, multi-vehicle, online quote discount, multi-policy, and good student.

If you need affordable Toledo auto insurance quotes, ask each company or agent which discounts can lower your rates. Some credits may not apply to policies in your area. To view providers that offer multiple discounts in Ohio, click this link.

Best auto insurance company in Ohio

Buying coverage from the right auto insurance provider can be challenging considering how many companies sell insurance in Toledo. The ranking information in the next section may help you decide which providers you want to consider comparing price quotes from.

Top 10 Toledo Car Insurance Companies Ranked by Value

  1. USAA
  2. GEICO
  3. AAA Insurance
  4. Erie Insurance
  5. State Farm
  6. Liberty Mutual
  7. Safeco Insurance
  8. Allstate
  9. 21st Century
  10. Travelers

Top 10 Toledo Car Insurance Companies by A.M. Best Rank

  1. USAA - A++
  2. GEICO - A++
  3. Travelers - A++
  4. State Farm - A++
  5. Allstate - A+
  6. Progressive - A+
  7. Erie Insurance - A+
  8. The Hartford - A+
  9. Nationwide - A+
  10. Esurance - A+

More quotes mean more auto insurance savings

In this article, we presented many tips how you can reduce Hyundai Genesis insurance premium rates online in Toledo. The key concept to understand is the more rate comparisons you have, the more likely it is that you will get a better rate. Drivers may even discover the best price on auto insurance is with a small mutual company. These companies often have lower prices on specific markets than the large multi-state companies such as Allstate and Progressive.

Some insurance providers don't offer the ability to get quotes online and most of the time these small insurance companies only sell coverage through independent agencies. More affordable auto insurance in Toledo is attainable online as well as from independent agents in Toledo, and you need to price shop both in order to have the best price selection to choose from.

As you shop your coverage around, do not buy lower coverage limits just to save a few bucks. Too many times, drivers have reduced physical damage coverage only to find out that saving that couple of dollars actually costed them tens of thousands. The ultimate goal is to find the BEST coverage at a price you can afford.

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