Affordable Rate Quotes for Hyundai Elantra Insurance in Memphis

Have you fallen victim to overpriced Hyundai Elantra insurance in Memphis? Trust us, you are not the only one feeling buyer’s remorse.

Insurance quote for Hyundai Elantra in MemphisA recent auto insurance study revealed that the vast majority of drivers kept their coverage with the same auto insurance company for four years or more, and approximately 38% of consumers have never compared quotes from other companies. With the average premium in the United States being $1,847, drivers could cut their rates by nearly 46.5% a year by just comparing quotes, but they just assume it’s a time-consuming process to compare other rate quotes.

Steps to finding cheaper rates for Hyundai Elantra insurance in Memphis

The best way to quote cheaper Hyundai Elantra insurance in Memphis is to compare quotes annually from companies who sell insurance in Tennessee.

An important bit of advice to remember is that you’ll want to make sure you compare the same liability limits and deductibles on each quote and and to get rates from as many companies as possible. This ensures an apples-to-apples comparison and the most accurate and complete price analysis.

Insurance companies such as State Farm, GEICO and Farmers Insurance all claim big savings with ad campaigns and it is challenging if not impossible to sift through the bull and do the work needed to find the best deal.

It’s important to do price comparisons quite often because insurance rates change regularly. Even if you think you had the best deal on Hyundai Elantra insurance in Memphis a year ago you can probably find a better price now. There is too much inaccurate information about Elantra insurance out there, but in just a couple of minutes you can learn some of the best techniques to find cheap auto insurance in Memphis.

If you have insurance now or are looking for a new policy, you will benefit by learning to shop for the lowest rates while maintaining coverages. Buying the cheapest car insurance in Memphis is really quite simple as long as you have a good starting point. You just have to learn the proper way to compare company rates using one simple form.

The fastest way that we advise to compare car insurance rates for Hyundai Elantra insurance in Memphis is to know the fact most of the larger companies pay for the opportunity to provide you with free rate quotes. To get started, all you need to do is provide a little information including any included safety features, whether you are single or married, your education level, and whether or not you need a SR-22. The rating information is instantly sent to multiple different insurance companies and you should receive rate quotes almost instantly.

To check rates for your Hyundai Elantra now, click here and complete the quick form.

The following companies offer quotes in Tennessee. If you wish to find the cheapest auto insurance in Memphis, we recommend you visit several of them to find the lowest auto insurance rates.

Rates and data analysis

The coverage information displayed next covers estimates of insurance prices for Hyundai Elantra models. Learning a little about how insurance quotes are figured can help you make decisions when choosing a new policy provider.

Hyundai Elantra Insurance Rates in Memphis, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $136 $194 $322 $20 $96 $768 $64
Elantra Blue 4-Dr Sedan $136 $278 $378 $22 $114 $928 $77
Elantra GLS 4-Dr Sedan $158 $278 $378 $22 $114 $950 $79
Elantra SE 4-Dr Sedan $158 $278 $378 $22 $114 $950 $79
Elantra SE Touring Station Wagon $158 $236 $322 $20 $96 $832 $69
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Data variables include single male driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, claim-free, and safe-driver. Rates do not factor in specific garaging location which can change coverage rates substantially.

Can higher deductibles save money?

One of the most common car insurance questions is how high should the physical damage deductibles be. The following tables help summarize the rate difference of buying low and high deductibles. The first price estimate table uses a $100 deductible for comprehensive and collision coverage and the second rate chart uses a $500 deductible.

Hyundai Elantra insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $216 $368 $246 $14 $74 $943 $79
Elantra Blue 4-Dr Sedan $216 $528 $288 $18 $86 $1,161 $97
Elantra GLS 4-Dr Sedan $248 $528 $288 $18 $86 $1,193 $99
Elantra SE 4-Dr Sedan $248 $528 $288 $18 $86 $1,193 $99
Elantra SE Touring Station Wagon $248 $448 $246 $14 $74 $1,055 $88
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Hyundai Elantra insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $158 $250 $246 $14 $74 $742 $62
Elantra Blue 4-Dr Sedan $158 $358 $288 $18 $86 $908 $76
Elantra GLS 4-Dr Sedan $182 $358 $288 $18 $86 $932 $78
Elantra SE 4-Dr Sedan $182 $358 $288 $18 $86 $932 $78
Elantra SE Touring Station Wagon $182 $304 $246 $14 $74 $820 $68
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Prices above based on married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Price information does not factor in vehicle garaging location which can modify rates substantially.

Based on the figures above, using a $100 deductible will cost in the ballpark of $20 more each month or $240 each year averaged for all Elantra models than buying the higher $500 deductible. Because you would pay $400 more if you file a claim with a $500 deductible as compared to a $100 deductible, if you normally average at least 20 months between claim filings, you would probably come out ahead by going with a higher deductible.

How to determine when to raise your deductibles

Average monthly premium for $100 deductibles: $92
Average monthly premium for $500 deductibles (subtract): – $72
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

An important sidenote is that raising deductibles to get cheaper rates results in more money out-of-pocket when you have a claim. That will force you to have enough money stashed away in order to pay the higher deductible in order to repair your vehicle.

The example below shows how choosing a deductible and can affect Hyundai Elantra insurance rates for each age group. The data assumes a single male driver, comprehensive and collision coverage, and no other discounts are factored in.

Gender-based car insurance rates by age in Memphis

The illustration below shows the comparison of Hyundai Elantra insurance costs for male and female drivers. The data assumes a clean driving record, no claims, comprehensive and collision coverage, $100 deductibles, drivers are not married, and no discounts are applied.

It’s not one size fits all

Always remember that when buying coverage online or from an agent, there isn’t really a best way to insure your cars. Everyone’s situation is a little different.Drive safe and save

Here are some questions about coverages that may help highlight whether your personal situation could use an agent’s help.

If you’re not sure about those questions but you think they might apply to your situation then you might want to talk to an agent. If you don’t have a local agent, complete this form. It’s fast, free and may give you better protection.

Comparing prices from local Memphis auto insurance agents

Some people still like to buy from a licensed agent and doing that can be a smart decision Professional insurance agents are highly skilled in risk management and help file insurance claims. A nice benefit of comparing rate quotes online is the fact that drivers can get lower rates and still buy from a local agent.

Once you complete this short form, your insurance data is transmitted to local insurance agents in Memphis that give free quotes for your coverage. You won’t need to find an agent on your own since price quotes are sent to you. If you want to compare prices from one company in particular, feel free to search and find their rate quote page and submit a quote form there.

Selecting a provider needs to be determined by more than just a cheap quote. Agents should be asked these questions:

If you are searching for a reputable insurance agent or broker, it helps to know the two different agency structures and how they are slightly different. Auto insurance agents can be described as either exclusive or independent. Both types can insure your vehicles, but we need to point out how they are different since it can affect your selection of an agent.

Exclusive Agencies

Agents that choose to be exclusive work for only one company such as Farmers Insurance, Allstate, or State Farm. Exclusive agents are unable to place coverage with different providers so always compare other rates. Exclusive insurance agents receive extensive training in insurance sales and that can be a competitive advantage.

Below are Memphis exclusive agents that can give you price quotes.

5384 Knight Arnold RdMemphis, TN 38115(901) 362-6552View Map

5170 Sanderlin Ave #204Memphis, TN 38117(901) 767-2000View Map

6263 Poplar Ave #535Memphis, TN 38119(901) 682-8700View Map

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Independent Agents

Agents that choose to be independent are normally appointed by many insurers and that gives them the ability to insure with multiple insurance companies and help determine which has the cheapest rates. If they find a lower price, your agent can switch companies and that require little work on your part.

When comparing auto insurance rates, you definitely need to check rates from several independent agencies to ensure the widest selection of prices.

The following are Memphis independent agencies willing to provide price quotes.

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

5545 Murray Ave Ste 107Memphis, TN 38119(901) 767-3379View Map

5495 Winchester Rd Suite 3Memphis, TN 38115(901) 362-6052View Map

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