How long have you put off shopping around for more affordable insurance rates in Anchorage, AK? Anchorage consumers have options when looking for affordable Hyundai Accent insurance. They can either spend hours struggling with agents getting price quotes or leverage the internet to compare rates. There are more efficient ways to compare insurance rates so you’re going to learn the best way to get price quotes on a Hyundai and get the lowest price from both online companies and Anchorage agents.
Rates and data analysis
The rate information displayed next outlines a range of coverage prices for Hyundai Accent models. Learning how auto insurance premiums are formulated can be valuable when making smart choices when purchasing an auto insurance policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Accent Blue 2-Dr Hatchback | $108 | $226 | $312 | $18 | $94 | $758 | $63 |
| Accent GS 2-Dr Hatchback | $126 | $274 | $312 | $18 | $94 | $824 | $69 |
| Accent GLS 4-Dr Sedan | $126 | $322 | $416 | $24 | $124 | $1,012 | $84 |
| Accent SE 2-Dr Hatchback | $144 | $372 | $312 | $18 | $94 | $940 | $78 |
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Cost estimates assume single female driver age 30, no speeding tickets, no at-fault accidents, $1000 deductibles, and Alaska minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, multi-policy, and homeowner. Estimates do not factor in specific garaging location which can decrease or increase price quotes significantly.
The example below demonstrates how deductible levels and can impact Hyundai Accent insurance costs for different age groups. The price estimates are based on a married male driver, full coverage, and no other discounts are factored in.
Gender-based auto insurance rates by age
The example below shows the comparison of Hyundai Accent car insurance costs for male and female drivers. The costs are based on no accidents, no driving violations, comprehensive and collision coverage, $500 deductibles, single status, and no additional discounts are factored in.
Should you buy full coverage?
The illustration below shows the comparison of Hyundai Accent insurance prices when comparing full coverage to liability only. The data assumes no violations or claims, $100 deductibles, marital status is single, and no discounts are applied to the premium.
When to buy liability coverage only
There is no definitive formula to stop paying for comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of having full coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might want to think about dropping full coverage.
For example, let’s assume your Hyundai Accent settlement value is $9,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $8,000 after paying your policy deductible. If you are paying in excess of $800 a year for physical damage coverage, then you may need to consider dropping full coverage.
There are some situations where buying only liability insurance is not a good idea. If you still owe a portion of the original loan, you are required to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should keep full coverage.
Seven factors that determine insurance premiums
Lots of things are used when pricing auto insurance. Most are fairly basic like an MVR report, although some other factors are less obvious such as your marital status or your commute time.
- Your location is a factor – Living in a small town is a positive aspect if you are looking for the lowest rates. People who live in big cities have more auto accidents and more time behind the wheel. Less people means a lower chance of having an accident in addition to fewer liability claims.
- Liability protection limits on your policy – Your auto insurance policy’s liability coverage is the coverage that protects you when you are ruled to be at fault for an accident. Your liability coverage provides for a legal defense starting from day one. It is affordable coverage as compared to coverage for physical damage, so buy as much as you can afford.
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Avoid tickets and save – How you drive influences premium rates substantially. Drivers who don’t get tickets receive lower rates than bad drivers. Even a single citation can bump up the cost by as much as twenty percent. People who have license-revoking violations such as reckless driving, hit and run or driving under the influence may need to prove financial responsibility with their state’s licensing department in order to drive a vehicle legally.
The information below shows how speeding tickets and at-fault fender-benders can drive up Hyundai Accent car insurance rates for different age categories. The rates are based on a single female driver, comprehensive and collision coverage, $250 deductibles, and no discounts are taken into consideration.
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Mature drivers are lower risk – Teenage drivers in Alaska are known to be more careless when driving with friends therefore auto insurance rates are much higher. More experienced drivers are viewed as being more responsible, statistically cause fewer accidents, and are safer drivers.
The following chart assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.
- Inexpensive frequent claims are not good – If you file claims often, you can definitely plan on much higher rates or policy non-renewal. Companies in Alaska award most affordable rates 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 you cannot pay yourself.
- Extra policy coverages can cost a lot – Insurance policies have a lot of extra bells and whistles that can add up when buying auto insurance. Insurance for things like roadside assistance, accidental death, and motor club memberships are examples of these. The coverages may be enticing when deciding what coverages you need, but if they’re wasting money remove them and pocket the money.
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Fast cars cost more to insure – The type of vehicle you are insuring makes a big difference in your premium level. The cheapest insurance rates are usually found on smaller low performance passenger cars, but other factors influence the final cost greatly.
The following data uses these assumptions: married male driver age 20, full coverage with $250 deductibles, and no discounts or violations. It compares Hyundai Accent policy rates compared to other models of vehicles that have a range of risk factors.
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Hyundai Accent insurance claim data – Companies study historical loss data to help determine the rate you pay. Vehicles that the data determines to have higher claim amounts or frequency will be charged more to insure. The table below demonstrates the insurance loss data used by companies for Hyundai Accent vehicles.
For each insurance policy coverage type, the loss probability for all vehicles, regardless of make, model or trim level, is represented as 100. Percentage values below 100 suggest losses that are better than average, while values over 100 indicate frequent claims or a tendency for losses to be larger than average.
Hyundai Accent Insurance Claim Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Hyundai Accent 98 109 89 129 129 133 BETTERAVERAGEWORSEStatistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Cheaper auto insurance premiums are out there
More affordable auto insurance in Anchorage is attainable both online and with local Anchorage insurance agents, and you need to price shop both to have the best chance of lowering rates. Some companies may not provide internet price quotes and these smaller providers sell through independent insurance agencies.
In this article, we presented many ideas to shop for Hyundai Accent insurance online. The key concept to understand is the more rate quotes you have, the higher your chance of finding affordable Hyundai Accent insurance quotes. You may even find the biggest savings come from a small mutual company.
When you buy Anchorage car insurance online, make sure you don’t skimp on critical coverages to save a buck or two. There have been many cases where drivers have reduced uninsured motorist or liability limits only to regret that a couple dollars of savings turned into a financial nightmare. The aim is to buy the best coverage you can find at the best cost.
How to buy lower priced Hyundai Accent insurance in Anchorage
The best way to get cheaper car insurance rates is to begin comparing prices regularly from insurance carriers who can sell car insurance in Anchorage.
First, spend some time learning about car insurance and the steps you can take to prevent high rates. Many things that result in higher rates such as accidents, traffic tickets, and a poor credit score can be rectified by making minor driving habit or lifestyle changes.
Second, get rate quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only quote rates from one company like Progressive and State Farm, while agents who are independent can provide rate quotes for a wide range of companies.
Third, compare the new rate quotes to the price on your current policy to see if a cheaper rate is available. If you can save money and decide to switch, make sure coverage is continuous and does not lapse.
Fourth, provide proper notification to your current company of your intention to cancel your current policy and submit the required down payment along with the signed application for your new coverage. Immediately upon receiving it, keep the new certificate of insurance along with your vehicle registration.
The most important part of shopping around is to try to compare similar coverage information on every price quote and and to get price quotes from every company you can. This guarantees a level playing field and a complete price analysis.
More information
- If I File a Claim will My Insurance Go Up? (Insurance Information Institute)
- Who Has the Cheapest Car Insurance Rates for Drivers Under 21 in Anchorage? (FAQ)
- How Much is Anchorage Auto Insurance for a Hyundai Elantra? (FAQ)
- Who Has Cheap Auto Insurance Rates for a Chevrolet Equinox in Anchorage? (FAQ)
- What Car Insurance is Cheapest for Electric Cars in Anchorage? (FAQ)
- What Car Insurance is Cheapest for Felons in Anchorage? (FAQ)
- Vehicle Insurance (Wikipedia)
- Young Drivers: The High Risk Years Video (iihs.org)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- Auto Insurance FAQ (Farmers Insurance)