How Much Does 2003 Hyundai Elantra Insurance Cost?

Trying to find the cheapest auto insurance rates? Buyers have a choice when searching for the lowest priced Hyundai Elantra insurance. They can either spend hours struggling with agents getting price quotes or use the internet to make rate comparisons. There is a better way to find auto insurance online so we’re going to tell you the best way to price shop coverage for a new or used Hyundai and find the lowest price from local insurance agents and online providers.

It’s important to take a look at other company’s rates yearly because rates are constantly changing. Even if you think you had the best rates for Elantra coverage a year ago you can probably find a lower rate today. Ignore everything you know about auto insurance because you’re about to find out the best way to reduce your cost while improving coverage.

Which Car Insurance is Cheapest?

There are a variety of methods to compare 2003 Hyundai Elantra car insurance quotes, but some are less labor-intensive and much quicker. You could spend the better part of a day driving to insurance agencies in your area, or you can utilize the internet to maximize your effort.

The majority of car insurance companies are enrolled in a marketplace where prospective buyers complete one form, and each participating company returns a competitive quote based on the submitted data. This eliminates the need for quote requests for every car insurance company. To use this form to compare 2003 Hyundai Elantra insurance rates click here (opens in new window).

The one disadvantage to using this type of system is that you can’t choose the companies you will receive quotes from. If you wish to select specific insurance companies to compare rates, we put together a list of the cheapest car insurance companies in your area. Click here to view list.

However you get your quotes, make darn sure you compare identical information on every quote. If you use mixed coverages it will be impossible to decipher which rate is best.

Lesser-known factors impacting Hyundai Elantra insurance rates

It’s important that you understand the different types of things that come into play when calculating auto insurance rates. Knowing what determines base rates allows you to make educated decisions that can help you get lower auto insurance prices.

The list below includes a few of the “ingredients” companies use to determine your rates.

  • Safe vehicles cost less to insure – Safer cars are cheaper to insure. Safe vehicles have better occupant injury protection and any reduction in injury severity means lower claim amounts and more competitive rates for policyholders. If the Hyundai Elantra scored better than an “acceptable” rating on the Insurance Institute for Highway Safety website you may qualify for a discount.
  • Where you live is a factor – Being located in small towns and rural areas can be a good thing when talking about auto insurance. Less people living in that area translates into fewer accidents and a lower car theft rate. Drivers who live in large cities have much more traffic to deal with and longer commutes to work. More time commuting can result in more accidents.
  • Males pay more for insurance – The statistics show women tend to be less risk to insure than men. However, don’t assume that men are worse drivers. Both sexes have accidents at about the same rate, but the men cause more damage and cost insurance companies more money. Men also statistically get cited for more serious violations such as reckless driving.
  • Older drivers pay less – Older insureds are viewed as being more responsible, tend to cause fewer accidents and tend to be better behind the wheel. Teen drivers tend to get distracted easily when behind the wheel and because of this, their auto insurance rates are much higher.
  • No coverage gaps is important – Driving with no insurance is against the law and your next policy will cost more because you let your insurance lapse. And not only will your rates increase, but being ticketed for driving with no insurance might get you a steep fine or even jail time.
  • Marriage pays dividends – Having a wife or husband helps lower the price when buying auto insurance. It usually means you are more mature than a single person and statistics show being married results in fewer claims.

More discounts equal less premium

Companies that sell car insurance do not list every discount in a way that’s easy to find, so we break down both well-publicized and the harder-to-find discounts you could be receiving. If you aren’t receiving every discount possible, you are paying more than you should be.

  • Payment Method – If paying your policy premium upfront instead of making monthly payments you can actually save on your bill.
  • New Car Discount – Putting insurance coverage on a new car can cost up to 25% less because new vehicles have to meet stringent safety requirements.
  • Military Rewards – Having a deployed family member may qualify for rate reductions.
  • Life Insurance Discount – Select insurance companies reward you with a break if you buy a life insurance policy as well.
  • Anti-theft System – Vehicles with anti-theft systems can help prevent theft and will save you 10% or more.
  • Early Switch Discount – Select companies give a discount for switching policies before your current expiration date. It’s a savings of about 10%.
  • Memberships – Participating in a civic or occupational organization may earn a discount on your policy for Elantra coverage.
  • Discount for Good Grades – Performing well in school can earn a discount of 20% or more. The good student discount can last well after school through age 25.
  • Passive Restraints – Factory air bags or automatic seat belts can receive discounts up to 30%.

Drivers should understand that most discounts do not apply to the overall cost of the policy. The majority will only reduce the cost of specific coverages such as comprehensive or collision. Even though it may seem like having all the discounts means you get insurance for free, it doesn’t quite work that way.

Companies that possibly offer these discounts may include but are not limited to:

Before buying, ask each insurance company which discounts they offer. All car insurance discounts may not be available in every state.

It’s not one size fits all

When buying the best insurance coverage coverage for your vehicles, there isn’t really a “best” method to buy coverage. Every situation is different.

These are some specific questions might help in determining if you would benefit from an agent’s advice.

  • Am I missing any policy discounts?
  • Can I drive in Mexico and have coverage?
  • Is my teen driver covered when they drive my company car?
  • How much liability do I need to cover my assets?
  • Will filing a claim cost me more?
  • Is my 2003 Hyundai Elantra covered for smoke damage?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Am I covered when delivering products for my home-based business?

If you’re not sure about those questions but you know they apply to you, then you may want to think about talking to an agent. To find lower rates from a local agent, take a second and complete this form. It only takes a few minutes and may give you better protection.

Specifics of your insurance policy

Understanding the coverages of your insurance policy aids in choosing the best coverages and proper limits and deductibles. The coverage terms in a policy can be difficult to understand and reading a policy is terribly boring.

Collision coverage – This covers damage to your Elantra resulting from colliding with an object or car. You first must pay a deductible and the rest of the damage will be paid by collision coverage.

Collision insurance covers claims such as colliding with a tree, damaging your car on a curb, hitting a parking meter and colliding with another moving vehicle. Collision coverage makes up a good portion of your premium, so analyze the benefit of dropping coverage from lower value vehicles. You can also choose a higher deductible in order to get cheaper collision rates.

Medical payments and PIP coverage – Personal Injury Protection (PIP) and medical payments coverage kick in for bills like pain medications, EMT expenses and rehabilitation expenses. They are often utilized in addition to your health insurance policy or if you do not have health coverage. They cover not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. PIP coverage is only offered in select states and gives slightly broader coverage than med pay

Comprehensive auto coverage – This coverage pays for damage from a wide range of events other than collision. You need to pay your deductible first and then insurance will cover the rest of the damage.

Comprehensive insurance covers things such as hail damage, hitting a bird and a tree branch falling on your vehicle. The most your insurance company will pay is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider dropping full coverage.

Liability insurance – This coverage will cover damage or injury you incur to other people or property. It protects YOU from claims by other people, and does not provide coverage for your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 50/100/50 that means you have a $50,000 limit per person for injuries, a total of $100,000 of bodily injury coverage per accident, and $50,000 of coverage for damaged propery.

Liability coverage protects against claims like medical expenses, emergency aid, medical services, court costs and repair bills for other people’s vehicles. How much liability coverage do you need? That is a personal decision, but buy higher limits if possible.

UM/UIM (Uninsured/Underinsured Motorist) coverage – This coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants as well as your vehicle’s damage.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked.

Shop around and save

Insureds who switch companies do it for a number of reasons such as unfair underwriting practices, poor customer service, extreme rates for teen drivers and even delays in paying claims. No matter why you want to switch, choosing a new company is pretty simple and you could end up saving a buck or two.

We just showed you a lot of tips how to reduce 2003 Hyundai Elantra insurance prices online. The key thing to remember is the more price quotes you have, the better chance you’ll have of finding lower rates. You may be surprised to find that the lowest premiums are with a small mutual company.

When you buy insurance online, it’s not a good idea to buy less coverage just to save a little money. There are many occasions where someone sacrificed liability coverage limits only to regret at claim time they didn’t purchase enough coverage. The ultimate goal is to get the best coverage possible for the lowest price, not the least amount of coverage.

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