Compare Hyundai Accent Insurance Rates in Memphis

Regrettably, about 70% of customers kept their coverage with the same auto insurance company for more than four years, and just under half have never shopped around. Tennessee consumers can save as much as $475 each year, but they just assume it takes a lot of time to go online and compare rates.

Insurance rates Hyundai Accent in MemphisTo save the most money, the best way to find more affordable car insurance rates in Memphis is to regularly compare price quotes from insurers in Tennessee. This can be done by following these guidelines.

The key aspect of shopping around is to make sure you’re comparing the same liability limits and deductibles on every price quote and and to analyze as many car insurance companies as possible. This provides a fair price comparison and plenty of rates choose from.

How Insurers Calculate Hyundai Accent Insurance Premiums

The best way to find cheaper auto insurance is to take a look at some of the elements that come into play when calculating the rates you pay for auto insurance. If you have some idea of what impacts premium levels, this enables you to make decisions that can help you get cheaper rates.

Prevent theft and save – Purchasing a vehicle with a theft deterrent system can save you a little every year. Theft deterrent systems like OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems can thwart car theft.

Single vs. married – Being married can actually save you money compared to being single. It is viewed as being more mature than a single person and it’s proven that married couples file fewer claims.

Premiums drop with age – Teen drivers in Tennessee tend to be inattentive with other occupants in the car and because of this, their auto insurance rates are much higher. More mature drivers are proven to be safer behind the wheel, cost insurance companies less in claims, and are generally more financially stable.

The next chart uses these assumptions: single driver, full coverage with $100 deductibles, and no discounts or violations.

Safer occupants lowers prices – Vehicles with high crash test scores tend to have better insurance rates. Vehicles built for safety help reduce the chance of injuries in an accident and fewer serious injuries translates into savings for insurance companies passed on to you as lower rates.

Bump up deductibles to lower rates – Physical damage insurance, also called comprehensive and collision insurance, covers damage that occurs to your Hyundai. A few examples of covered claims are running into the backend of another car, damage from fire, or theft. Deductibles for physical damage define the amount you are willing to pay in the event of a claim. The larger the amount you are required to pay out-of-pocket, the lower your rates will be.

Costs increase with policy add-ons – There are quite a few extra coverages you can purchase if you aren’t diligent. Coverage for things like personal injury protection, death and dismemberment, and additional equipment coverage are probably not needed. These coverages may sound good initially, but if they’re wasting money eliminate them to save money.

Don’t abuse policy claims – If you are the type of insured that files lots of claims you can expect increased rates or even have your policy non-renewed. Auto insurance companies in Tennessee generally give better rates to people who do not rely on their insurance for small claims. Your insurance policy is intended for major claims that would cause financial hardship.

Loss statistics for a Hyundai Accent – Companies analyze historical claim data to calculate a rate that offsets possible losses. Vehicles that the statistics show to have higher number or severity of losses will cost more for specific coverages.

The next table illustrates the compiled insurance loss statistics for Hyundai Accent vehicles. For each coverage type, the claim probability for all vehicles averaged together is represented as 100. Values that are 100 or less mean the vehicle has better than average losses, while values that are 100 or greater indicate frequent claims or larger claims.

Hyundai Accent Insurance Loss Statistics
Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Hyundai Accent 98 109 89 129 129 133

Statistics from for 2013-2015 Model Years

Many insurance companies like Progressive, Allstate and GEICO provide insurance quotes directly from their websites. The process is quite simple as you just enter your coverage preferences into the form. When complete, the company’s rating system requests your credit score and driving record and provides a quote based on these and other factors. The ability to get online rate quotes for Hyundai Accent insurance in Memphis makes comparing rates easy, and it’s also necessary to get many rate quotes in order to find cheap prices.

In order to get comparison pricing now, compare rate quotes from the providers shown below. If you have coverage now, it’s recommended you input your coverages identical to your current policy. This makes sure you will have a rate comparison for the exact same coverage.

The companies in the list below provide price quotes in Tennessee. If multiple companies are listed, we suggest you click on several of them in order to find the cheapest rates.

Hyundai Accent insurance charts and tables

The information displayed next covers detailed analysis of coverage costs for Hyundai Accent models. Having insight into how rate quotes are calculated can be useful when making decisions on the best policy coverages.

Hyundai Accent Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accent Blue 2-Dr Hatchback $142 $302 $278 $16 $84 $822 $69
Accent GS 2-Dr Hatchback $168 $368 $278 $16 $84 $914 $76
Accent GLS 4-Dr Sedan $168 $434 $368 $22 $110 $1,102 $92
Accent SE 2-Dr Hatchback $192 $500 $278 $16 $84 $1,070 $89
Get Your Own Custom Quote Go

Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Estimates do not factor in specific zip code location which can affect rates greatly.

Higher deductibles lower rates

When buying auto insurance, a common question is how high or low should comp and collision deductibles be. The figures shown below outline the differences in premium rates between low and high comp and collision deductibles. The first rate comparisons uses a $100 deductible for comp and collision and the second rate table uses a $500 deductible.

Hyundai Accent insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accent Blue 2-Dr Hatchback $184 $368 $246 $14 $74 $911 $76
Accent GS 2-Dr Hatchback $216 $448 $246 $14 $74 $1,023 $85
Accent GLS 4-Dr Sedan $216 $528 $326 $20 $98 $1,213 $101
Accent SE 2-Dr Hatchback $248 $608 $246 $14 $74 $1,215 $101
Get Your Own Custom Quote Go

Hyundai Accent insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Accent Blue 2-Dr Hatchback $134 $250 $246 $14 $74 $718 $60
Accent GS 2-Dr Hatchback $158 $304 $246 $14 $74 $796 $66
Accent GLS 4-Dr Sedan $158 $358 $326 $20 $98 $960 $80
Accent SE 2-Dr Hatchback $182 $412 $246 $14 $74 $928 $77
Get Your Own Custom Quote Go

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Estimates do not factor in vehicle garaging location which can affect coverage prices considerably.

Using the data above, we can ascertain that using a $100 deductible will cost you about $20 more each month or $240 for a full year than requesting the higher $500 deductible. Since you would have to pay $400 more to file a claim with a $500 deductible as compared to a $100 deductible, if you tend to have at least 20 months between claim filings, you would probably come out ahead if you decide on a higher deductible.

How to determine when to raise your deductibles

Average monthly premium for $100 deductibles: $91
Average monthly premium for $500 deductibles (subtract): – $71
Monthly savings from raising deductible: $20
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $20
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 20 months

One important caveat is that increasing deductibles to save money means you will have to pay more of your own money at claim time. It will be required that you have enough savings in the event you need to pay the deductible.

The example below demonstrates how choosing different deductibles and can change Hyundai Accent insurance rates for each age group. The premiums are based on a single male driver, comp and collision included, and no other discounts are factored in.

Cost comparison with and without full coverage

The chart below shows the difference between Hyundai Accent car insurance costs with and without physical damage coverage. The rate quotes are based on no claims, a clean driving record, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.

When to switch to liability coverage only

There is no specific rule that works best for making the decision to drop full coverage on your policy, but there is a general guideline. If the annual cost of comprehensive and collision coverage is 10% or more of any settlement you would receive from your insurance company, then it could be time to drop full coverage.

For example, let’s assume your Hyundai Accent replacement value is $6,000 and you have $1,000 full coverage deductibles. If your vehicle is damaged in an accident, the most you would receive is $5,000 after paying your deductible. If you are paying over $500 annually to have full coverage, then it may be the right time to buy liability only.

There are a few cases where only buying liability is not a good plan. If you still have a loan on your vehicle, you must maintain physical damage coverage as part of the loan conditions. Also, if your emergency fund is not enough to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

Best reasons to buy insurance in Tennessee

Despite the high cost of buying insurance for a Hyundai Accent in Memphis, paying for insurance is not optional due to several reasons.

The benefits of having insurance outweigh the cost, especially with large liability claims. But the average driver in Tennessee is overpaying more than $865 each year so compare rate quotes at every renewal to save money.

Discounts mean cheaper rates for Hyundai Accent insurance in Memphis

Auto insurance companies don’t always advertise every available discount in an easy-to-find place, so the list below details a few of the more well known and the more hidden credits available to you.Save money with discounts

A quick disclaimer, most of the big mark downs will not be given to the entire policy premium. Most only cut the cost of specific coverages such as collision or personal injury protection. Even though it may seem like you can get free auto insurance, insurance companies wouldn’t stay in business.

The information below shows the comparison of Hyundai Accent yearly insurance costs with and without discounts applied to the premium. The information is based on a male driver, no claims or driving citations, Tennessee state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, multi-policy, claim-free, marriage, multi-car, and homeowner discounts applied.

A list of insurance companies and the discounts they provide can be found below.

Before purchasing a policy, check with each company or agent how you can save money. All car insurance discounts may not be offered in Memphis. If you would like to view providers with discount insurance rates in Memphis, click here.

Local Memphis insurance agents

Some people just want to buy from a licensed agent and that can be a smart move A good thing about price shopping on the web is the fact that drivers can get better rates and still buy from a local agent. And supporting local insurance agencies is especially important in Memphis.

Insurance agency in MemphisTo find an agent, once you fill out this simple form, your insurance coverage information is emailed to local insurance agents that give free quotes for your auto insurance coverage. It simplifies rate comparisons since you won’t have to find an agent since price quotes are sent immediately to you. You can most likely find cheaper rates and a licensed agent to work with. If you have a need to compare rates from a specific auto insurance provider, you just need to go to their quote page to submit a rate quote request.

Pick the best auto insurance agent in Memphis for you

When finding a local agent, there are two different agency structures to choose from. Agents in Memphis can be categorized as either exclusive or independent.

Independent Auto Insurance Agents (or Brokers)

Agents that elect to be independent are not restricted to one company so they can insure your vehicles with lots of companies and get the cheapest rates. To move your coverage to a new company, they simply switch companies in-house which makes it simple for you.

When comparing auto insurance prices, you will want to get some free quotes from several independent agencies so that you can do a thorough price comparison.

Below are Memphis independent agencies that may be able to provide rate quotes.

2670 Union AveMemphis, TN 38112(901) 321-1000View Map

1374 Airways BlvdMemphis, TN 38114(901) 323-6159View Map

8046 N Brother Blvd #101Memphis, TN 38133(901) 386-4777View Map

View more Memphis agents

Exclusive Agents

Agents of this type work for only one company and examples are State Farm, AAA, and Liberty Mutual. These agents are unable to shop your coverage around so always compare other rates. Exclusive agents are well schooled on the products they sell which helps them sell on service rather than price.

Below is a short list of exclusive insurance agencies in Memphis that can give you comparison quotes.

2657 Appling Rd #101Memphis, TN 38133(901) 372-2228View Map

7900 Winchester Rd Ste 101Memphis, TN 38125(901) 757-0303View Map

3624 Austin Peay Hwy #5Memphis, TN 38128(901) 388-0000View Map

View more Memphis agents

Picking the best insurance agent shouldn’t rely on just a cheap price quote. Before buying a policy in Memphis, get answers to these questions.

Don’t give up on cheaper rates

As you quote Memphis auto insurance, never buy less coverage just to save a little money. There are too many instances where an insured dropped full coverage and learned later that their decision to reduce coverage ended up costing them more. Your focus should be to purchase plenty of coverage for the lowest price, not the least amount of coverage.

We just covered a lot of tips how to save on Hyundai Accent insurance in Memphis. The key thing to remember is the more rate quotes you have, the better likelihood of getting affordable Hyundai Accent insurance quotes. Drivers may even discover the lowest premium rates come from the least-expected company. They often have lower prices on specific markets than the large multi-state companies such as GEICO and State Farm.

Much more information about car insurance in Tennessee is available at these links: