2002 Hyundai XG350 Insurance Rates – 8 Tips for Best Quotes

Trying to come up with a payment for overpriced auto insurance can deplete your monthly budget and make it hard to pay other bills. Comparing price quotes is free, only takes a few minutes, and is a good way to cut your insurance bill.

Companies like Geico and Progressive all claim big savings with fancy advertisements and consumers find it hard to see through the deception and take the time to shop coverage around.

Do you qualify for these eight discounts?

Not many people think insurance is cheap, but you might already qualify for some discounts that many consumers don’t even know exist. A few discounts will be applied when you complete an application, but lesser-known reductions have to be requested specifically in order for you to get them.

• Driver’s Education for Students – Teen drivers should participate in a local driver’s education class as it can save substantially.
• Telematics Data Discounts – Drivers who agree to allow their company to study their driving habits by using a telematics device in their vehicle such as Progressive’s Snapshot and State Farm’s In-Drive might see lower rates if they exhibit good driving behavior.
• Pay Now and Pay Less – If you pay your entire premium ahead of time instead of paying each month you can actually save on your bill.
• Early Switch Discount – A few car insurance companies allow discounts for renewing your policy prior to the expiration date on your current policy. It can save you around 10%.
• Discounts for Multiple Vehicles – Buying coverage for multiple cars on one policy could earn a price break for each car.
• Passenger Safety Discount – Cars that have air bags and/or automatic seat belt systems can qualify for discounts of 20% or more.
• Student Discounts – Being a good student can earn a discount of 20% or more. The good student discount can last well after school through age 25.
• Homeowners Pay Less – Simply owning a home may trigger a policy discount on car insurance because it demonstrates responsibility.

Don’t be surprised that some credits don’t apply to the overall cost of the policy. Some only reduce specific coverage prices like medical payments or collision. Despite the appearance that adding up those discounts means a free policy, it just doesn’t work that way. Any qualifying discounts should definitely cut the amount you have to pay.

A few popular companies and a partial list of their discounts are outlined below.

• AAA discounts include good student, AAA membership discount, education and occupation, multi-policy, and good driver.
• Progressive offers premium reductions for multi-policy, homeowner, continuous coverage, online quote discount, good student, online signing, and multi-vehicle.
• State Farm may offer discounts for Steer Clear safe driver discount, passive restraint, accident-free, multiple autos, and driver’s education.
• Esurance includes discounts for Pac-12 alumni, online shopper, Switch & Save, paid-in-full, defensive driver, and good student.
• Nationwide may have discounts that include Farm Bureau membership, multi-policy, business or organization, anti-theft, easy pay, defensive driving, and good student.

Check with every company which discounts you may be entitled to. Some discounts listed above might not be offered on policies in your state. To locate providers offering car insurance discounts, click this link.

Misconceptions in insurance advertisements

Consumers can’t escape the ads that claim the lowest car insurance rates by companies like State Farm, Allstate and Geico. All the companies have a common claim about how much you will save after switching to them.

How is it plausible that every one can have lower policy pricing? Here is how they do it.

Different companies quote their best rates for the type of driver that is profitable for them. For instance, this type of risk profile could be over the age of 50, carries high limits, and drives a vehicle with a low ISO rating. Anybody who fits that profile will most likely get cheap prices and as a result will probably save a lot if they switch.

Drivers who do not fit the “perfect” profile may be required to pay a higher rate and this can result in the customer buying from someone else. If you pay close attention to the ads, they say “people who switch” not “everyone who quotes” save that much money. That is how companies can advertise the way they do.

This emphasizes why you need to get a wide range of price quotes. You cannot predict with any certainty which company will have better premium rates than you’re paying now.

Don’t assume everyone needs the same auto insurance coverage

When it comes to buying coverage for your vehicles, there is no “perfect” insurance plan. Everyone’s needs are different so your insurance needs to address that. These are some specific questions could help you determine if you will benefit from professional help.

• If my 2002 Hyundai XG350 is totaled, can I afford another vehicle?
• How can I find cheaper teen driver insurance?
• Are split liability limits better than a combined single limit?
• Should I buy more coverage than the required minimum liability coverage?
• Should I sign the liability waiver when renting a car?
• When should my teen driver be added to my policy?
• Should I waive the damage coverage when renting a car?
• Am I covered if I break a side mirror?

If you don’t know the answers to these questions but you know they apply to you, then you may want to think about talking to an agent. If you want to speak to an agent in your area, fill out this quick form or click here for a list of auto insurance companies in your area. It’s fast, doesn’t cost anything and may give you better protection.

Insurance coverages and their meanings

Having a good grasp of insurance helps when choosing appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be difficult to understand and nobody wants to actually read their policy. These are typical coverages offered by insurance companies.

Coverage for medical payments

Medical payments and Personal Injury Protection insurance kick in for immediate expenses for EMT expenses, X-ray expenses, doctor visits and ambulance fees. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. Medical payments and PIP cover all vehicle occupants in addition to getting struck while a pedestrian. Personal Injury Protection is only offered in select states and may carry a deductible

Comprehensive coverages

Comprehensive insurance coverage covers damage from a wide range of events other than collision. You first have to pay a deductible then the remaining damage will be covered by your comprehensive coverage.

Comprehensive insurance covers things such as a broken windshield, damage from a tornado or hurricane, a tree branch falling on your vehicle and damage from getting keyed. The most you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle’s value is low consider dropping full coverage.

Collision coverage protection

This coverage pays to fix your vehicle from damage resulting from colliding with another vehicle or an object, but not an animal. You have to pay a deductible then the remaining damage will be paid by your insurance company.

Collision insurance covers things such as colliding with a tree, driving through your garage door, rolling your car, backing into a parked car and crashing into a ditch. Collision is rather expensive coverage, so you might think about dropping it from vehicles that are 8 years or older. Another option is to raise the deductible to save money on collision insurance.

Liability car insurance

Liability insurance protects you from damage that occurs to other people or property that is your fault. Liability coverage has three limits: bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You commonly see liability limits of 50/100/50 that means you have $50,000 bodily injury coverage, $100,000 for the entire accident, and $50,000 of coverage for damaged propery. Another option is a combined limit which provides one coverage limit with no separate limits for injury or property damage.

Liability coverage protects against things such as legal defense fees, court costs, attorney fees and pain and suffering. How much liability coverage do you need? That is a decision to put some thought into, but buy as high a limit as you can afford.

Uninsured and underinsured coverage

Uninsured or Underinsured Motorist coverage provides protection when the “other guys” either are underinsured or have no liability coverage at all. It can pay for medical payments for you and your occupants and also any damage incurred to your Hyundai XG350.

Because many people only purchase the least amount of liability that is required, their limits can quickly be used up. This is the reason having UM/UIM coverage should not be overlooked. Frequently your uninsured/underinsured motorist coverages are set the same as your liablity limits.

Smart shoppers get results

When trying to cut insurance costs, it’s not a good idea to reduce needed coverages to save money. In many cases, an insured dropped comprehensive coverage or liability limits only to regret at claim time that a couple dollars of savings turned into a financial nightmare. The proper strategy is to buy a smart amount of coverage at an affordable rate while still protecting your assets.

Throughout this article, we presented many ideas to reduce 2002 Hyundai XG350 insurance prices online. The most important thing to understand is the more providers you compare, the better likelihood of getting cheap auto insurance. You may even discover the best price on car insurance is with a small local company. Some small companies can often insure niche markets at a lower cost than their larger competitors like State Farm, Geico and Nationwide.

Even more information can be found in these articles:

• Five Steps to Filing an Auto Insurance Claim (Insurance Information Insitute)
• Coverage Information (Progressive Insurance)
• Neck Injury FAQ (iihs.org)
• Top Signs Your Brakes are Giving Out (State Farm)