A recent insurance study discovered that most insurance buyers kept their policy with the same company for at least the last four years, and approximately 40% of consumers have never even compared quotes to find affordable rates. North Carolina drivers could save nearly $94 every year by just comparing quotes, but they just don’t understand how easy it is to compare rate quotes online.
Truthfully, the best way to get the cheapest Hyundai Genesis insurance is to do a yearly price comparison from insurance carriers in Greensboro. Price quotes can be compared by completing these steps.
Step 1: Read about coverages and the changes you can make to prevent expensive coverage. Many rating factors that cause high rates like traffic citations and a not-so-good credit rating can be amended by making minor changes to your lifestyle. This article gives instructions to get lower rates and find more discounts that you may not know about.
Step 2: Request price quotes from direct, independent, and exclusive agents. Direct and exclusive agents can only provide price estimates from one company like Progressive or Farmers Insurance, while agents who are independent can give you price quotes from many different companies.
Step 3: Compare the quotes to your existing policy to see if a cheaper rate is available. If you find a lower rate quote and make a switch, ensure coverage does not lapse between policies.
The key aspect of shopping around is to compare similar coverage information on each quote and and to get price estimates from every insurance company. This enables a fair rate comparison and and a good selection of different prices.
It’s important to know that having more price comparisons will increase your chances of finding the best rates.
The providers in the list below provide price comparisons in North Carolina. If you want cheap auto insurance in North Carolina, it’s a good idea that you get rate quotes from several of them to find the cheapest auto insurance rates.
Insurance coverage details
The information shown next showcases a range of insurance premium costs for Hyundai Genesis models. Having knowledge of how rate quotes are formulated is important for drivers to make decisions when shopping your coverage around.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Genesis 2.0T 2-Dr Coupe | $128 | $312 | $404 | $24 | $122 | $990 | $83 |
| Genesis 3.8 4-Dr Sedan | $144 | $272 | $276 | $16 | $82 | $790 | $66 |
| Genesis 2.0T Premium 2-Dr Coupe | $144 | $312 | $404 | $24 | $122 | $1,006 | $84 |
| Genesis 3.8 2-Dr Coupe | $144 | $312 | $404 | $24 | $122 | $1,006 | $84 |
| Genesis 2.0T Track 2-Dr Coupe | $144 | $312 | $404 | $24 | $122 | $1,006 | $84 |
| Genesis 3.8 Grand Touring 2-Dr Coupe | $144 | $312 | $404 | $24 | $122 | $1,006 | $84 |
| Genesis 4.6 4-Dr Sedan | $144 | $312 | $276 | $16 | $82 | $830 | $69 |
| Genesis 3.8 Track 2-Dr Coupe | $144 | $354 | $404 | $24 | $122 | $1,048 | $87 |
| Get Your Own Custom Quote Go | |||||||
Prices based on single female driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Premium costs do not factor in zip code location which can increase or decrease premium rates greatly.
Insurance rate increases from tickets or accidents
The diagram below shows how speeding tickets and fender-benders raise Hyundai Genesis insurance rates for each age group. The rate quotes are based on a single female driver, full physical damage coverage, $500 deductibles, and no discounts are taken into consideration.
Why you need insurance
Even though it’s not necessarily cheap to insure a Hyundai in Greensboro, insurance serves a purpose in several ways.
- Most states have minimum liability requirements which means it is punishable by state law to not carry a specific level of liability insurance in order to be legal. In North Carolina these limits are 30/60/25 which means you must have $30,000 of bodily injury coverage per person, $60,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your vehicle, almost all lenders will make it mandatory that you have full coverage to guarantee loan repayment. If you default on your policy, the bank may insure your Hyundai for a much higher rate and make you pay a much higher amount than you were paying before.
- Insurance protects both your vehicle and your assets. It will also pay for hospital and medical expenses for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, will also pay for a defense attorney if anyone sues you for causing an accident. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of having insurance are definitely more than the cost, especially if you ever need it. But the average American driver is overpaying more than $865 each year so compare rates each time the policy renews to make sure the price is not too high.
Car insurance coverages for a Hyundai Genesis
Understanding the coverages of car insurance can help you determine the right coverages for your vehicles. Car insurance terms can be impossible to understand and even agents have difficulty translating policy wording. Below you’ll find typical coverages offered by car insurance companies.
Collision coverage protection
This pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things such as sustaining damage from a pot hole, scraping a guard rail, hitting a parking meter, damaging your car on a curb and colliding with a tree. Collision coverage makes up a good portion of your premium, so you might think about dropping it from vehicles that are older. It’s also possible to raise the deductible on your Genesis to save money on collision insurance.
Liability auto insurance
Liability coverage provides protection from injuries or damage you cause to other people or property that is your fault. This coverage protects you against other people’s claims. Liability doesn’t cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 30/60/25 which means $30,000 in coverage for each person’s injuries, a total of $60,000 of bodily injury coverage per accident, and a total limit of $25,000 for damage to vehicles and property.
Liability coverage protects against claims such as bail bonds, pain and suffering, medical expenses and loss of income. How much liability should you purchase? That is a decision to put some thought into, but consider buying as high a limit as you can afford. North Carolina requires drivers to carry at least 30/60/25 but it’s recommended drivers buy more coverage.
The chart below shows why buying minimum limits may not be high enough to adequately cover claims.
UM/UIM Coverage
Your UM/UIM coverage protects you and your vehicle’s occupants when other motorists do not carry enough liability coverage. Covered claims include medical payments for you and your occupants as well as damage to your Hyundai Genesis.
Since a lot of drivers have only the minimum liability required by law (30/60/25 in North Carolina), it only takes a small accident to exceed their coverage. So UM/UIM coverage is a good idea.
Medical costs insurance
Coverage for medical payments and/or PIP pay for expenses for things like doctor visits, surgery, funeral costs and nursing services. The coverages can be used in conjunction with a health insurance policy or if there is no health insurance coverage. They cover you and your occupants as well as getting struck while a pedestrian. PIP is not an option in every state and gives slightly broader coverage than med pay
Comprehensive or Other Than Collision
This covers damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for claims such as fire damage, a tree branch falling on your vehicle, hitting a bird, damage from flooding and damage from getting keyed. The maximum payout your car insurance company will pay is the market value of your vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.