Cheap Insurance for a Hyundai Genesis in Denver

How long have you put off shopping around for lower-priced Hyundai Genesis insurance in Denver? Have you finally had enough of not being able to scrape enough together to pay insurance each month? You have the same problem as most other vehicle owners in Colorado.

It’s amazing but most drivers kept their policy with the same company for four years or more, and roughly 40% of drivers have never compared rates to find cheaper insurance. Drivers in Colorado could save 35% each year just by shopping around, but they assume it’s a waste of time to shop around. Insurance companies such as State Farm, Allstate, GEICO and Progressive constantly blast consumers with TV and radio ads and it can be hard to sift through the bull and do the work needed to find the best deal.

It’s important to do price comparisons as often as possible because insurance prices are rarely the same from one policy term to another. If you had the lowest rates on Hyundai Genesis insurance in Denver six months ago there may be better deals available now. You can find a lot of wrong information about Genesis insurance online but by reading this article, you’re going to learn some solid techniques on how to slash your insurance rates in Denver.

Companies offering Hyundai Genesis insurance in Colorado

The companies in the list below offer price quotes in Colorado. If more than one company is shown, we suggest you visit several of them in order to find the lowest rates.

Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Premium costs do not factor in specific Denver garaging location which can impact prices noticeably.

Hyundai Genesis insurance rates: Men versus women

The diagram below visualizes the comparison of Hyundai Genesis insurance premiums for male and female drivers. The premiums are based on no claims or driving citations, comprehensive and collision coverage, $250 deductibles, drivers are not married, and no additional discounts are factored in.

Car insurance deductibles

The information below illustrates how your choice of deductibles and can raise or lower Hyundai Genesis insurance costs for each different age group. The information is based on a married male driver, comp and collision included, and no additional discounts are factored in.

Deductible comparison

One of the most common car insurance questions is how high should the deductibles for physical damage be. The rates below can help show the difference in cost between low and high deductibles. The first set of rates uses a $100 deductible for comprehensive and collision coverage and the second price grid uses a $500 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Colorado minimum liability limits. Discounts applied include multi-vehicle, safe-driver, claim-free, homeowner, and multi-policy. Information does not factor in garaging location in Denver which can raise or lower premium rates noticeably.

Based on the data above, we can derive that using a $100 deductible could cost the average driver approximately $30 more each month or $360 each year than selecting the higher $500 deductible. Since you would have to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you normally go more than 13 months between claim filings, you would more than likely save some money going with the higher deductible.

Cheaper Denver insurance quotes with discounts

Insurance can be pricey, but you may find discounts that many consumers don’t even know exist. Some trigger automatically at the time of quoting, but lesser-known reductions have to be specially asked for before being credited.

• Theft Deterrent System – Vehicles that have factory alarm systems and tracking devices have a lower chance of being stolen and that can save you a little bit as well.
• Accident Free – Insureds with no claims or accidents can save substantially when compared with policyholders that have many claims.
• Low Mileage – Low mileage vehicles may allow you to get cheaper rates.
• Good Students Pay Less – A discount for being a good student may save you up to 25%. The good student discount can last until age 25.
• Government Employees – Active or former government employment can earn a discount up to 10% depending on your insurance provider.
• Switch and Save Discount – A few insurance companies give discounts for signing up before your current coverage expires. It could save around 10% when you buy Denver auto insurance online.
• Senior Citizens – Drivers that qualify as senior citizens can possibly qualify for a discount up to 10%.
• Driver Education Discount – Reduce the cost of insurance for teen drivers by having them enroll in driver’s education if offered at their school.

As is typical with insurance, most credits do not apply to the whole policy. A few only apply to the price of certain insurance coverages like physical damage coverage or medical payments. So even though they make it sound like having all the discounts means you get insurance for free, insurance companies aren’t that generous. But all discounts should help lower your insurance premiums.

Large insurance companies and a partial list of their discounts can be read below.

• Farmers Insurance discounts include switch companies, multi-car, distant student, good student, pay in full, and early shopping.
• State Farm may include discounts for good student, anti-theft, Drive Safe & Save, multiple policy, driver’s education, multiple autos, and defensive driving training.
• Liberty Mutual policyholders can earn discounts including hybrid vehicle, newly married, newly retired, teen driver discount, multi-policy, and exclusive group savings.
• MetLife may have discounts that include multi-policy, accident-free, good driver, defensive driver, and good student.
• Progressive offers premium reductions for online signing, continuous coverage, multi-policy, multi-vehicle, and good student.

When getting a coverage quote, ask every company to apply every possible discount. Some credits might not be offered on policies everywhere.

How Your Genesis Insurance Rates are Determined

Lots of factors are part of the equation when you quote your car insurance policy. A few of the factors are predictable like a motor vehicle report, but other criteria are more obscure like your continuous coverage or your financial responsibility.

Shown below are just a few of the factors auto insurance companies consider when setting prices.

More traffic equals higher rates – Living in less populated areas has definite advantages when buying auto insurance. Fewer drivers means fewer accidents and lower theft and vandalism rates. Residents of big cities have to deal with much more traffic and higher rates of accident claims. Higher commute times means higher likelihood of an accident.

Vocation reflects on rates – Occupational choices like military personnel, executives and dentists are shown to have higher rates than average because of intense work requirements and lots of time spent away from family. Conversely, jobs such as scientists, engineers and homemakers receive lower rates.

Liability risk factors in – A critical coverage on your policy, liability insurance is the coverage that protects you if ever a court rules you are at fault for physical damage or personal injury to other. Your liability coverage provides you with a defense in court up to the limits shown on your policy. This coverage is relatively inexpensive compared to physical damage coverage, so drivers should buy more than the minimum limits required by law.

Having a spouse is a good thing – Being married may earn you lower rates on your auto insurance bill. Having a significant other generally demonstrates drivers are more responsible and insurance companies reward insureds because being married results in fewer claims.

Cautious drivers pay lower rates – Being a careful driver impacts your car insurance rates tremendously. Drivers who don’t get tickets pay less for auto insurance compared to drivers with tickets. Having a single ticket can bump up the cost by as much as thirty percent. Drivers who have gotten careless tickets such as DWI, reckless driving or hit and run convictions may face state-mandated requirements to maintain a SR-22 with their state DMV in order to continue driving.

Only buy extra coverages you need – There are many extra bells and whistles that can waste your money if you aren’t diligent. Coverages like rental car coverage, accident forgiveness, and Farm Bureau memberships may not be needed and are just wasting money. They may seem good when buying your policy, but if you’ve never needed them in the past eliminate the coverages to reduce your premium.

Age of drivers – Mature drivers are proven to be safer behind the wheel, tend to cause fewer accidents, and usually have better credit.Teenage drivers are statistically proven to be more careless when behind the wheel so auto insurance rates are higher.

Gender and auto insurance – Statistics have proven women tend to be less risk to insure than men. It does not mean men are WORSE drivers than women. They both have accidents in similar numbers, but men cause more damage and cost insurance companies more money. Not only that, but men also get ticketed for serious violations like driving under the influence (DUI).

Hyundai Genesis historical loss data – Insurers take into consideration insurance loss statistics for every vehicle to help set a rate to offset losses. Models that tend to have high amounts or severity of claims will have increased rates. The data below shows the collected loss data for Hyundai Genesis vehicles.

For each coverage type, the loss probability for all vehicles, as a total average, is set at 100. Percentage values below 100 imply a favorable loss record, while values that are above 100 point to more losses or statistically larger claims.

Do I need an insurance agency?

A lot of people still prefer to get advice from a local agent and often times that is recommended Experienced insurance agents are trained to spot inefficiencies and help in the event of a claim. A nice benefit of comparing rates online is the fact that you can find the lowest rates and still have a local agent. And providing support for local agents is still important in Denver.

By using this form (opens in new window), the quote information is submitted to agents in your area that can provide free Denver auto insurance quotes and help you find cheaper coverage. It’s much easier because you don’t need to do any legwork since rate quotes are delivered immediately to you. If you have a need to get a comparison quote from a specific insurance company, you just need to search and find their rate quote page and fill out the quote form the provide.

When searching for an insurance agent, you should know the different agency structures and how they function. Auto insurance policy providers are categorized either independent or exclusive depending on the company they work for. Either one can sell and service auto insurance coverage, but it is important to understand why they differ because it can impact the selection process.

Independent Agencies or Brokers

Independent agents do not work for one specific company so they have the ability to put coverage with an assortment of companies and potentially find a lower price. If your agent finds better pricing, your agent can just switch to a different company and you stay with the same agent.

When comparison shopping, we recommend you check rates from several independent agencies to maximize your price options.

Shown below is a list of independent insurance agents in Denver that may be able to provide free price quotes.

More insurance agents

Exclusive Auto Insurance Agencies

Agents that choose to be exclusive work for only one company such as Allstate, AAA, Farmers Insurance, and State Farm. These agents are not able to provide prices from multiple companies so you might not find the best rates. Exclusive agents are well schooled on their products and sales techniques which aids in selling service over price.

Shown below is a short list of exclusive agencies in Denver willing to provide comparison quotes.

More insurance agents

Deciding on an insurance agent should depend on more than just a cheap price. These are some questions your agent should answer.

• If they are an independent agency in Denver, which companies do they recommend?
• Will they take your side in the event of a claim?
• Do they see any coverage gaps in your plan?
• How does the company pay claims for a total loss?
• Is the agency active in community causes in Denver?
• Do they have advanced training designations such as CPCU, AAI, AIC, or CIC?
• How much training do they have in personal risk management?
• Will one accident increase rates?

Insurance savings promises

Colorado drivers can’t get away from all the ads that claim the best premium rates from companies such as Allstate and Progressive. All the companies have a common claim about savings just by switching to their company.

Is it even possible that every company can make almost identical claims? Here is how they do it.

Most companies are able to cherry pick for the right customer that will add to their bottom line. For instance, a profitable risk profile might be between 25 and 40, carries high limits, and drives a safe vehicle. A customer getting a price quote that hits that “sweet spot” gets the lowest car insurance rates and therefore will save when switching.

Potential customers who cannot meet these criteria may be required to pay higher rates with the end result being the customer not purchasing. The ad wording is “people who switch” but not “everyone who gets a quote” save that much money. This is how insurance companies can lure you into getting a quote.

This emphasizes why you need to compare quotes as often as possible. Because you never know with any certainty which company will have the lowest rate quotes.

More effort can pay off

We’ve covered many tips how you can save on Hyundai Genesis insurance in Denver. The key thing to remember is the more rate quotes you have, the better chance you’ll have of finding inexpensive Denver auto insurance quotes. Consumers could even find that the biggest savings come from some of the lesser-known companies. Regional companies can often insure niche markets at a lower cost than their larger competitors like Allstate and Progressive.

Low-cost Hyundai Genesis insurance in Denver is available from both online companies as well as from independent agents in Denver, and you should compare rates from both in order to have the best price selection to choose from. Some insurance providers may not offer the ability to get a quote online and many times these small, regional companies only sell through local independent agents.

Other learning opportunities

• Prepare your Teens for Safe Driving (InsureUonline.org)
• Avoiding Deer Collisions (Insurance Information Institute)
• Medical Payments Coverage (Liberty Mutual)
• Understanding Car Crashes Video (iihs.org)