Save on Hyundai Accent Insurance in Virginia Beach

Feeling guilty for buying an overpriced insurance policy? You’re in good company because you’re not alone.

It’s an obvious conclusion that car insurance companies want to keep you from comparing rates. Insureds who rate shop once a year are inclined to switch companies because there is a good probability of finding coverage at a cheaper rate. Remarkably, a study showed that people who regularly compared price quotes saved on average $860 a year as compared to drivers who never shopped around.

If finding budget-friendly Hyundai Accent insurance is your intention, then having a grasp of how to get rate quotes and compare auto insurance can make it easier to shop your coverage around.

Steps to buying discount Hyundai Accent insurance in Virginia Beach

If saving the most money is your goal, then the best way to get the cheapest auto insurance rates is to start comparing prices yearly from providers who sell auto insurance in Virginia Beach. You can compare rates by following these steps.

First, get a basic knowledge of car insurance and the things you can change to keep rates down. Many rating criteria that cause high rates such as careless driving and a poor credit score can be controlled by making lifestyle changes or driving safer.

Second, quote rates from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give rate quotes from one company like Progressive and State Farm, while independent agencies can quote rates for a wide range of companies.

Third, compare the new rates to your current policy to see if you can save by switching companies. If you find a lower rate and change companies, make sure coverage does not lapse between policies.

Fourth, tell your current company to cancel your current car insurance policy. Submit a down payment along with a completed application to your new company or agent. When you receive it, put the certificate of insurance in your glove compartment.

The key thing to know about shopping around is to make sure you’re comparing similar limits and deductibles on each quote request and and to compare every company you can. Doing this helps ensure a fair rate comparison and a complete price analysis.

Lots of insurance companies contend for your insurance dollar, so it’s not easy to compare every company to find the lowest cost out there.

Statistics and details

The data table shown next showcases different coverage prices for Hyundai Accent models. Having insight into how insurance premiums are established can help customers make decisions when shopping your coverage around.

Prices based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Virginia minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rates do not factor in garaging location in Virginia Beach which can change prices considerably.

Physical damage deductibles: Should you raise them?

When buying insurance, a common question is how high should the physical damage deductibles be. The rates shown below can help show how much more you’ll pay between high and low insurance deductibles. The first rate quote example uses a $250 deductible and the second set of rates uses a $500 deductible.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, and Virginia minimum liability limits. Discounts applied include multi-policy, multi-vehicle, claim-free, safe-driver, and homeowner. Premium amounts do not factor in Virginia Beach location which can lower or raise auto insurance rates substantially.

Based on these figures, using a $250 deductible will cost in the ballpark of $11 more each month or $132 annually averaged for all Accent models than requesting the higher $500 deductible. Since the policyholder would be required to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to go more than 23 months between claims, you would save more money by selecting a higher deductible.

One important note is that a higher deductible means you will have to cover more of the damage yourself at claim time. That will force you to have some funds available in the event you have to pay the deductible to have repairs made.

Cautious Virginia Beach drivers save money

The chart below highlights how speeding tickets and accident claims can raise Hyundai Accent insurance costs for each age group. The rates are based on a single male driver, full coverage, $500 deductibles, and no discounts are applied to the premium.

Full coverage rates vs. liability-only in Virginia Beach

The example below illustrates the comparison of Hyundai Accent car insurance rates with full coverage and liability only. Data assumes a clean driving record, no claims, $1,000 deductibles, drivers are not married, and no discounts are taken into consideration.

When to drop full coverage

There is no written rule to eliminate full coverage, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of the replacement cost minus the deductible, the it may be a good time to stop paying for full coverage.

For example, let’s assume your Hyundai Accent replacement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $2,000 after paying the physical damage deductible. If it’s costing you more than $200 annually to have full coverage, then it may be the right time to buy liability only.

There are a few situations where removing full coverage is not a good plan. If you haven’t satisfied your loan, you are required to maintain full coverage to protect the lienholder’s interest. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should keep full coverage in place.

How to Lower Your Insurance Rates

Many things are used when you quote your car insurance policy. Some are pretty understandable like your driving record, although others are less obvious such as your marital status and annual miles driven.

• Never allow your insurance policy to lapse – Driving without insurance coverage in place is not a good idea and as a result your rates will increase for letting your insurance lapse for non-payment. In addition to paying higher premiums, being ticketed for driving with no insurance may earn you a revoked license or a big fine. You may have to submit proof of financial responsibility or a SR-22 with the Virginia motor vehicle department to get your license reinstated.
• Does your job raise your rates? – Do you work in a high-stress field? Occupations like fire fighters, air traffic controllers, and dentists tend to pay higher rates than average attributed to stressful work requirements and extremely grueling work hours. On the flip side, jobs like scientists, historians and the unemployed receive lower rates.

• How your age affects rates – Drivers with little experience have a tendency to be less responsible in a vehicle therefore insurance rates are much higher. Older drivers are viewed as being more responsible, tend to cause fewer accidents, and are generally more financially stable.

  The next chart is based on a single driver, full coverage with $100 deductibles, and no discounts or violations.

• Inexpensive frequent policy claims are not good – If you’re an insured who likes to file claims you should expect higher rates. Insurance companies in Virginia generally give the lowest premiums to drivers who are not frequent claim filers. Auto insurance is intended to be relied upon for larger claims.

• Battle of the sexes – Over time, data shows that women are safer drivers than men. However, don’t assume that men are worse drivers. Females and males are in fender benders at about the same rate, but the men have accidents that have higher claims. Not only that, but men also get more serious tickets such as DWI and reckless driving. Males from age 16 to 21 are the most expensive to insure so they pay the highest premiums.

  The chart below illustrates the comparison of Hyundai Accent annual premium costs for male and female drivers. The premiums are based on no claims or violations, comprehensive and collision coverage, $500 deductibles, single marital status, and no additional discounts are factored in.

• Marriage reduces risk – Having a significant other actually saves money when shopping for insurance. Having a significant other is viewed as being more responsible and insurance companies like that married drivers tend to have fewer serious accidents.
• Cheaper rates by bundling – Lots of insurance companies give a discount to policyholders who buy several policies from them, otherwise known as a multi-policy discount. The amount of the discounts can be as much as ten percent or more Even with this discount, you still need to check prices from other companies to verify if the discount is saving money. Consumers may save more without the discount by buying insurance from more than one company.
• Know your vehicle’s safety rating – Cars with five star safety ratings cost less to insure. Highly rated vehicles help reduce the chance of injuries in an accident and lower injury rates translates directly to fewer claims and thus lower rates.

• Hyundai Accent insurance loss probability – Insurance companies take into consideration historical loss data for every vehicle as a tool for profitable underwriting. Vehicles that the data shows to have higher number or severity of losses will have higher rates. The information below illustrates the historical insurance loss data for Hyundai Accent vehicles.

  For each type of coverage, the statistical loss for all vehicles, regardless of make, model or trim level, equals 100. Values below 100 suggest a better than average loss history, while percentage numbers above 100 show a trend for more claims or larger claims.

  
  

  Insurance Loss Ratings for Hyundai Accent Vehicles

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

  BETTER

  AVERAGE

  WORSE

  Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Virginia Beach car insurance companies ranked

Finding the top car insurance provider is difficult considering how many different companies there are to choose from in Virginia. The company ratings in the lists below may help you select which coverage providers to look at when comparing rates.

Top 10 Virginia Beach Car Insurance Companies by A.M. Best Rank

1. Travelers – A++
2. USAA – A++
3. GEICO – A++
4. State Farm – A++
5. Erie Insurance – A+
6. Titan Insurance – A+
7. Esurance – A+
8. Progressive – A+
9. Nationwide – A+
10. The Hartford – A+

Cheap car insurance premiums are possible

You just read many tips how you can find lower-cost Hyundai Accent insurance in Virginia Beach. It’s most important to understand that the more companies you get prices for, the better your chances of lowering your prices. Consumers may even find the lowest premium rates are with the smaller companies. Some small companies may only write in your state and offer lower prices as compared to the big name companies such as State Farm or Progressive.

There are still a few companies who may not offer internet price quotes and most of the time these regional insurance providers only sell coverage through independent insurance agents. More affordable car insurance in Virginia Beach is possible from both online companies and from local agencies, so you should compare both to have the best rate selection.

How to quote cheaper Hyundai Accent insurance in Virginia Beach

If you want to find the absolute lowest rates, then the best way to find more affordable Hyundai Accent insurance in Virginia Beach is to compare prices annually from insurers in Virginia. Rates can be compared by following these guidelines.

Step 1: Gain an understanding of how insurance companies determine prices and the changes you can make to keep rates down. Many rating factors that cause rate increases like traffic citations, accidents, and a lousy credit rating can be rectified by improving your driving habits or financial responsibility.

Step 2: Quote rates from direct carriers, independent agents, and exclusive agents. Exclusive agents and direct companies can only quote rates from one company like GEICO and State Farm, while independent agents can give you price quotes for a wide range of companies.

Step 3: Compare the new rate quotes to the premium of your current policy and determine if there is any savings. If you can save some money and decide to switch, make sure there is no coverage gap between policies.

A crucial key to this process is that you’ll want to make sure you compare identical deductibles and limits on every quote request and and to analyze as many different companies as possible. This ensures a level playing field and a thorough selection of prices.

Additional car insurance information is available below:

• What if I Can’t Find Coverage? (Insurance Information Institute)
• What Car Insurance is Cheapest for Drivers Under 21 in Virginia Beach? (FAQ)
• Who Has Affordable Virginia Beach Auto Insurance Quotes for Government Employees? (FAQ)
• Who Has Affordable Auto Insurance for Teenage Males in Virginia Beach? (FAQ)
• Distracted Driving Statistics (Insurance Information Institute)
• Credit and Insurance Scores (Insurance Information Institute)
• Credit Impacts Car Insurance Rates (State Farm)