Cheapest Rate Quotes for Hyundai Genesis Insurance in Plano

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Discount Hyundai Genesis insuranceIt's hard to fathom, but about 70% of customers kept buying from the same company for well over three years, and virtually 40% of consumers have never even compared rates from other companies. With the average premium in Texas being $2,680, drivers could save an average of up to $1,766 each year by just shopping around, but they don't want to spend time to compare rates.

If you want to save money, the best way to get cheaper Hyundai Genesis insurance in Plano is to make a habit of regularly comparing prices from insurance carriers in Texas.

  1. Try to learn about what coverages are included in your policy and the things you can control to prevent expensive coverage. Many things that result in higher rates like accidents, traffic violations, and a substandard credit history can be eliminated by making lifestyle changes or driving safer. Keep reading for additional tips to help reduce prices and get bigger discounts that may have been overlooked.
  2. Compare rates from direct, independent, and exclusive agents. Direct companies and exclusive agencies can only give rate quotes from a single company like GEICO or Farmers Insurance, while agents who are independent can quote rates from multiple sources.
  3. Compare the new rate quotes to your current policy premium and see if you can save money. If you find a lower rate quote and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
  4. Notify your agent or company of your decision to cancel your current coverage. Submit payment and a completed application to the new company. Once the application is submitted, safely store the proof of insurance paperwork in an easily accessible location.

The key thing to know about shopping around is that you'll want to make sure you compare the same physical damage deductibles and liability limits on each quote request and to quote with as many car insurance companies as possible. This helps ensure the most accurate price comparison and a complete price analysis.

If you have coverage now or are shopping for new coverage, use these techniques to buy cheaper auto insurance while maintaining coverages. This article will instruct you on the best ways to compare prices and some tips to save money. Drivers just need to know how to compare prices using one simple form.

Hyundai Genesis insurance discounts in Plano

Some insurers don't always list all discounts very well, so we researched a few of the more common and the harder-to-find discounts that you can inquire about if you buy Plano auto insurance online. If you're not getting every credit available, you are just wasting money.

  • Seat Belt Usage - Drivers who always wear seat belts and also require passengers to buckle their seat belts could cut 10% or more off the personal injury premium cost.
  • Theft Deterrent System - Cars, trucks, and SUVs optioned with advanced anti-theft systems are stolen less frequently and therefore earn up to a 10% discount.
  • Good Student Discount - Maintaining excellent grades may save as much as 25% on a Plano auto insurance quote. The discount lasts until age 25.
  • Paper-free Discount - A handful of insurance companies will provide an incentive for buying a policy and signing up on their website.
  • Discounts for New Vehicles - Putting auto insurance coverage on a new Genesis can save you some money since new model year vehicles are generally safer.
  • Anti-lock Brakes - Cars and trucks that have anti-lock braking systems are safer to drive and therefore earn up to a 10% discount.
  • Driver Education Discount - It's a good idea to have your young drivers successfully complete driver's ed class in school or through a local driver safety program.
  • Waiver for an Accident - This isn't a discount exactly, but some insurance companies will forgive one accident without getting socked with a rate hike if your claims history is clear prior to the accident.
  • Accident-Free Discounts - Drivers who don't have accidents pay much less as compared to drivers who are more careless.

As a disclaimer on discounts, most discounts do not apply to the entire cost. Most cut individual premiums such as collision or personal injury protection. If you do the math and it seems like adding up those discounts means a free policy, insurance companies wouldn't stay in business.

The information below illustrates the difference between Hyundai Genesis auto insurance costs with and without discounts applied to the rates. The data assumes a male driver, no claims or violations, Texas state minimum liability limits, full coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, homeowner, safe-driver, claim-free, and multi-policy discounts applied.

A list of companies and a selection of discounts can be found below.

  • American Family discounts include Steer into Savings, defensive driver, multi-vehicle, TimeAway discount, and good student.
  • Farm Bureau includes discounts for multi-policy, youthful driver, 55 and retired, good student, renewal discount, multi-vehicle, and driver training.
  • State Farm offers discounts for accident-free, good driver, anti-theft, Steer Clear safe driver discount, and good student.
  • Travelers may include discounts for good student, continuous insurance, early quote, payment discounts, and driver training.
  • The Hartford offers premium reductions for good student, vehicle fuel type, driver training, anti-theft, bundle, and defensive driver.
  • GEICO policyholders can earn discounts including daytime running lights, multi-vehicle, membership and employees, anti-theft, emergency military deployment, and good student.
  • Progressive may have discounts that include online signing, multi-vehicle, online quote discount, multi-policy, and continuous coverage.

If you need the cheapest Hyundai Genesis rate quotes, ask each company which discounts they offer. Depending on the company, some discounts might not apply in Plano. If you would like to view auto insurance companies that can offer you the previously mentioned discounts in Texas, follow this link.

Finding a better price on auto insurance is pretty simple and can save money. The only thing you need to do is take the time to get quotes to find the company with inexpensive Plano auto insurance quotes.

The companies shown below have been selected to offer free rate quotes in Plano, TX. If you wish to find the best cheap car insurance in Plano, we suggest you click on several of them in order to find the lowest rates.

Rates and other information

The table below covers different policy rates for Hyundai Genesis models. Having a good grasp of how car insurance prices are figured is important for making smart choices when buying a policy.

Hyundai Genesis Insurance Rates in Plano, TX
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Genesis 2.0T 2-Dr Coupe $232 $560 $538 $32 $162 $1,524 $127
Genesis 3.8 4-Dr Sedan $258 $486 $366 $22 $110 $1,242 $104
Genesis 2.0T Premium 2-Dr Coupe $258 $560 $538 $32 $162 $1,550 $129
Genesis 3.8 2-Dr Coupe $258 $560 $538 $32 $162 $1,550 $129
Genesis 2.0T Track 2-Dr Coupe $258 $560 $538 $32 $162 $1,550 $129
Genesis 3.8 Grand Touring 2-Dr Coupe $258 $560 $538 $32 $162 $1,550 $129
Genesis 4.6 4-Dr Sedan $258 $560 $366 $22 $110 $1,316 $110
Genesis 3.8 Track 2-Dr Coupe $258 $632 $538 $32 $162 $1,622 $135
Get Your Own Custom Quote Go

Cost estimates assume single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include claim-free, multi-vehicle, homeowner, multi-policy, and safe-driver. Price information does not factor in your specific Plano location which can increase or decrease coverage rates substantially.

Should you raise deductibles?

One common question asked by Plano drivers is how high should your deductibles be. The tables below sum up the cost difference between high and low physical damage deductibles. The first rate comparisons uses a $100 physical damage deductible and the second set of rates uses a $1,000 deductible.

Hyundai Genesis insurance prices with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Genesis 2.0T 2-Dr Coupe $370 $804 $476 $28 $142 $1,845 $154
Genesis 3.8 4-Dr Sedan $412 $698 $324 $20 $96 $1,575 $131
Genesis 2.0T Premium 2-Dr Coupe $412 $804 $476 $28 $142 $1,887 $157
Genesis 3.8 2-Dr Coupe $412 $804 $476 $28 $142 $1,887 $157
Genesis 2.0T Track 2-Dr Coupe $412 $804 $476 $28 $142 $1,887 $157
Genesis 3.8 Grand Touring 2-Dr Coupe $412 $804 $476 $28 $142 $1,887 $157
Genesis 4.6 4-Dr Sedan $412 $804 $324 $20 $96 $1,681 $140
Genesis 3.8 Track 2-Dr Coupe $412 $908 $476 $28 $142 $1,991 $166
Get Your Own Custom Quote Go
Hyundai Genesis insurance prices with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Genesis 2.0T 2-Dr Coupe $206 $424 $476 $28 $142 $1,276 $106
Genesis 3.8 4-Dr Sedan $228 $368 $324 $20 $96 $1,036 $86
Genesis 2.0T Premium 2-Dr Coupe $228 $424 $476 $28 $142 $1,298 $108
Genesis 3.8 2-Dr Coupe $228 $424 $476 $28 $142 $1,298 $108
Genesis 2.0T Track 2-Dr Coupe $228 $424 $476 $28 $142 $1,298 $108
Genesis 3.8 Grand Touring 2-Dr Coupe $228 $424 $476 $28 $142 $1,298 $108
Genesis 4.6 4-Dr Sedan $228 $424 $324 $20 $96 $1,092 $91
Genesis 3.8 Track 2-Dr Coupe $228 $478 $476 $28 $142 $1,352 $113
Get Your Own Custom Quote Go

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Texas minimum liability limits. Discounts applied include safe-driver, homeowner, claim-free, multi-policy, and multi-vehicle. Premium costs do not factor in specific location information which can change rates greatly.

We can derive from the above data that using a $100 deductible will cost you approximately $48 more each month or $576 each year averaged for all Genesis models than buying the higher $1,000 deductible. Because you would be required to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you tend to have at least 19 months between claim filings, you would more than likely save some money if you elect the higher deductible. The table below illustrates the way you can do this calculation yourself.

Average monthly premium for $100 deductibles: $152
Average monthly premium for $1,000 deductibles (subtract): - $104
Monthly savings from raising deductible: $48
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $48
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 19 months

The illustration below shows how choosing a deductible and can increase or decrease Hyundai Genesis premium costs for different age categories. The information is based on a single female driver, full physical damage coverage, and no discounts are applied.

Driving violations and accidents

The diagram below highlights how speeding tickets and at-fault collisions influence Hyundai Genesis insurance costs for each age group. Data assumes a single male driver, comp and collision included, $250 deductibles, and no policy discounts are applied.

Annual premiums for males compared to females in Plano

The chart below illustrates the difference between Hyundai Genesis yearly insurance costs for male and female drivers. The price estimates are based on no claims or violations, full physical damage coverage, $100 deductibles, single status, and no discounts are applied to the premium.

Full coverage rates vs. liability-only

The example below shows the difference between Hyundai Genesis annual premium costs with full physical damage coverage and with liability coverage only. The prices are based on no accidents or driving violations, $250 deductibles, drivers are single, and no additional discounts are factored in.

When to stop buying comprehensive and collision coverage

There is no set guideline of when to phase out comp and collision coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of any settlement you would receive from your insurance company, then you may need to consider dropping full coverage.

For example, let's assume your Hyundai Genesis replacement cost is $7,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $6,000 after you pay the deductible. If premium cost is more than $600 a year for full coverage, then it's probably a good time to buy liability coverage only.

There are a few situations where only buying liability is not advised. If you haven't satisfied your loan, you have to carry full coverage to protect the lienholder's interest in the vehicle. Also, if you can't afford to buy a different vehicle if your current one is in an accident, you should not drop full coverage.

Insurance Premium Influencing Factors

Multiple criteria are taken into consideration when you get your auto insurance bill. Some factors are common sense such as your driving history, although some other factors are less obvious like where you live or how financially stable you are. Part of the car insurance buying process is learning the rating factors that help determine the level of your policy premiums. If you have some idea of what determines premiums, this enables you to make decisions that could help you find lower premium levels.

  • Age of drivers - More mature drivers have been proven to be more responsible, cause fewer claims and accidents, and usually have better credit. Beginning drivers are statistically proven to be more careless when at the wheel of a vehicle and because of this, their car insurance rates are much higher.

    The following data uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.

  • What are good liability insurance limits? - The liability coverage on your policy will protect you when you are responsible for damages caused by your negligence. This coverage provides for a legal defense up to the limits shown on your policy. Liability is cheap when compared to the cost of physical damage coverage, so do not cut corners here.
  • Do you know your deductibles? - Physical damage protection, otherwise known as comp (or other than collision) and collision, is used to repair damage to your Hyundai. Examples of covered claims could be collision with another vehicle, vandalism, and damage caused by flying debris. The deductibles are the amount of money you are willing to pay if a claim is determined to be covered. The more of the claim the insured is willing to pay, the lower your rates will be.
  • Theft deterrents save - Selecting a car model with an alarm system can save you some money. Anti-theft features such as vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems help track and prevent your vehicle from being stolen.
  • Does your occupation raise your premiums? - Jobs like doctors, business owners, and stock brokers tend to have higher premium rates due to high stress and lengthy work days. On the other hand, careers such as farmers, historians and performers have the lowest average rates.
  • Allowing your policy to lapse raises rates - Driving your car without having proper coverage 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, not being able to provide proof of insurance may earn you a fine, jail time, or a revoked license.
  • You might want pay the minor policy claims yourself - If you tend to file frequent claims, you can expect either a policy non-renewal or much higher rates. Auto insurance companies in Texas give the lowest premiums to insureds who do not rely on their insurance for small claims. Auto insurance is meant to be used in the event of claims that pose a financial burden.
  • The more you drive the more you pay - The more you drive your Hyundai in a year the higher the price you pay to insure it. Most insurance companies calculate rates based upon how the vehicle is primarily used. Cars left parked in the garage receive better premium rates compared to those used for work or business. Improper usage on your Genesis is just wasting money. Make sure your policy is rated on the correct usage, because improper ratings can cost you money.
  • Hyundai Genesis historical loss data - Insurers use past loss statistics for each vehicle to calculate a rate that offsets possible losses. Models that tend to have a trend towards higher claim severity or frequency will have higher premium rates. The table below outlines the historical insurance loss data for Hyundai Genesis vehicles.

    For each type of coverage, the loss probability for all vehicles, regardless of manufacturer or model, equals 100. Values that are 100 or less suggest a positive loss record, while values that are above 100 indicate more frequent losses or statistically larger losses.

    Auto Insurance Loss Data for Hyundai Genesis Models
    Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Hyundai Genesis 178 122 117 119 103 117
    Hyundai Genesis 4dr 154 71 154 85 99
    BETTER
    AVERAGE
    WORSE

    Empty fields indicate not enough data collected
    Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Different people need different insurance coverages

Always remember that when buying insurance from an agent or online for your personal vehicles, there really is not a cookie cutter policy. Everyone's situation is a little different.

These are some specific questions might help in determining if you may require specific advice.

  • Is business equipment covered while in my vehicle?
  • Is my Hyundai Genesis covered for flood damage?
  • Are my tools covered if they get stolen from my vehicle?
  • Do I get a pro-rated refund if I cancel my policy early?
  • Do I need rental car coverage?
  • What does medical payments cover?
  • Are split liability limits better than a combined single limit?

If you don't know the answers to these questions then you might want to talk to an agent. If you don't have a local agent, take a second and complete this form. It's fast, doesn't cost anything and can provide invaluable advice.

Compare rates but work with a local Plano insurance agent

Many people would prefer to buy from a local agent and that is not a bad decision Professional agents can help determine the best coverages and help you file claims. One of the great benefits of comparing insurance online is that drivers can save money and get cheaper rates and still have a local agent. And supporting local agencies is important particularly in Plano.

Insurance agency in PlanoUpon completion of this simple form, the coverage information is instantly submitted to agents in your area who can give free rate quotes for your business. There is no need to find an agent because quoted prices will be sent to you. If for some reason you want to get a rate quote from a specific insurance provider, you can always go to their quote page to submit a rate quote request.

When looking for an insurance agent, it helps to know the two different types of agents from which to choose. Agencies in Plano are considered either exclusive agents or independent agents. Either can sell insurance policies, but it's worth learning the differences since it can affect which agent you choose.

Independent Agents (or Brokers)

Agents that elect to be independent are not employed by any specific company so they can write business amongst many companies enabling the ability to shop coverage around. If you want to switch companies, they can switch companies in-house and you can keep the same agent. When searching for an agent, we recommend you include several independent agencies so that you have a good selection of quotes to compare. Many independent agencies also insure through smaller mutual companies that may provide cheaper insurance rates.

Featured below is a list of independent insurance agents in Plano who may be able to give you rate quotes.

  • Best Insurance Agent
    4332 Belvedere Dr - Plano, TX 75093 - (972) 398-2697 - View Map

  • 2817 Regal Rd # 101 - Plano, TX 75075 - (972) 596-5866 - View Map
  • Texas FIrst Rate Insurance Agency
    2105 W Spring Creek Pkwy #375c - Plano, TX 75023 - (972) 467-6500 - View Map

More insurance agents

Exclusive Insurance Agencies

Exclusive insurance agents write business for a single company and examples are American Family, State Farm, and AAA. These agents are not able to compare other company's rates so they have no alternatives for high prices. They are trained well on their company's products which helps them sell on service rather than price. A lot of people buy insurance from these agents mostly because of loyalty to the company instead of buying on price only.

Listed below are exclusive agencies in Plano willing to provide rate quotes.

More insurance agents

Deciding on an car insurance agent requires you to look at more than just the price. Some important questions to ask are:

  • Are there any extra charges for paying monthly?
  • How many companies do they write for?
  • Can you use your own choice of collision repair facility?
  • How is replacement cost determined on your vehicle?
  • What company do they have the most business with?
  • Will you be dealing directly with the agent or with a Custom Service Representative (CSR)?

Why you need auto insurance

Despite the high cost, insurance serves a purpose in several ways.

First, just about all states have minimum mandated liability insurance limits which means it is punishable by state law to not carry a specific minimum amount of liability in order to get the vehicle licensed. In Texas 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.

Second, if you bought your Hyundai Genesis with a loan, it's most likely the lender will stipulate that you have insurance to ensure the loan is repaid in case of a total loss. If you default on your policy, the bank or lender will purchase a policy for your Hyundai at a much higher rate and force you to reimburse them for the much more expensive policy.

Third, insurance protects not only your Hyundai Genesis but also your financial assets. It will also pay for medical bills that are the result of an accident. Liability coverage will also pay attorney fees if you are sued as the result of your driving. If damage is caused by hail or an accident, collision and comprehensive (also known as other-than-collision) coverage will pay all costs to repair after the deductible has been paid.

The benefits of buying auto insurance definitely exceed the price paid, specifically if you ever have a liability claim. But the average driver in Texas overpays more than $810 a year so you should quote your policy with other companies once a year at a minimum to help ensure money is not being wasted.

How to find a good Texas auto insurance company

Picking the highest-rated insurance provider can be challenging considering how many different companies insure vehicles in Plano. The company rank data in the next section may help you pick which companies you want to consider comparing prices from.

Top 10 Plano Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive

Top 10 Plano Car Insurance Companies Ranked by Value

  1. Mercury Insurance
  2. Travelers
  3. American Family
  4. AAA Insurance
  5. Safeco Insurance
  6. Progressive
  7. The Hartford
  8. The General
  9. 21st Century
  10. Esurance

More effort can pay off

When searching for affordable Plano auto insurance quotes, never buy less coverage just to save a little money. There are many occasions where an insured dropped full coverage and discovered at claim time that a couple dollars of savings turned into a financial nightmare. Your aim should be to find the BEST coverage at a price you can afford, but do not skimp to save money.

There are still a few companies who do not offer online price quotes and many times these smaller companies provide coverage only through local independent agents. Low-cost Hyundai Genesis insurance in Plano is available online and with local Plano insurance agents, so you should be comparing quotes from both so you have a total pricing picture.

In this article, we presented many tips how you can reduce Hyundai Genesis insurance premium rates online in Plano. It's most important to understand that the more price quotes you have, the higher the chance of saving money. Consumers may even find the best price on auto insurance is with the smaller companies.

Even more information is located in the articles below: