How many times have you told yourself to find more competitive Hyundai Equus insurance in Lexington? Are you drained from wondering where the money will come from to pay your insurance bill each month? You are in the same boat as many other Kentucky drivers.
It’s safe to assume that auto insurance companies don’t want policyholders to shop around. Consumers who shop around for better prices are inclined to buy a new policy because there is a good probability of finding more affordable rates. A recent study showed that consumers who faithfully checked for cheaper rates saved as much as $72 a month compared to people who never compared rates.
If finding discount rates on car insurance in Lexington is why you’re reading this, then understanding the best way to quote and compare coverages can make it easier to shop your coverage around. Consumers have many car insurance companies to choose from, and though it is a good thing to be able to choose, it can be more difficult to compare rates and find the lowest cost insurance.
It’s a great practice to quote other rates quite often because rates change quite often. Even if you think you had the lowest rate on Hyundai Equus insurance in Lexington a few years ago you can probably find a lower rate today. Block out anything you think you know about insurance because you’re about to learn how to quote online to save money, get proper deductibles and limits, all at the lowest rate.
Locating the best rates in Lexington can be much easier if you know how to start. If you have a current auto insurance policy or need new coverage, you can follow these tips to buy cheaper auto insurance while maximizing coverage. Smart shoppers just have to understand the most efficient way to compare different rates from many different companies.
Do you qualify for discounts?
Car insurance is neither fun to buy or cheap, but you may qualify for discounts that can help lower your rates. Many of these discounts will be applied automatically when you quote, but lesser-known reductions have to be asked for before they will apply.
- No Claim Discounts – Insureds who avoid accidents and claims have much lower rates as compared to accident-prone drivers.
- Driver’s Education for Students – Have your child participate in a local driver’s education class if it’s offered in school.
- Policy Bundle Discount – If you insure your home and vehicles with the same company you could earn a discount of nearly 15% which can help you find inexpensive Hyundai Equus insurance in Lexington.
- One Accident Forgiven – Not really a discount, but some companies like Liberty Mutual and GEICO will turn a blind eye to one accident without the usual rate increase if your claims history is clear for a certain period of time.
- Seat Belts Save more than Lives – Requiring all passengers to buckle up can save up to 10 percent (depending on the company) off the personal injury premium cost.
Don’t be surprised that most discount credits are not given to the overall cost of the policy. Some only reduce specific coverage prices like comp or med pay. So even though they make it sound like you would end up receiving a 100% discount, company stockholders wouldn’t be very happy.
Large car insurance companies and some of the premium reductions they offer include:
- Farm Bureau may have discounts that include good student, renewal discount, youthful driver, multi-vehicle, safe driver, driver training, and multi-policy.
- Liberty Mutual may include discounts for new vehicle discount, multi-car, good student, new move discount, newly retired, and new graduate.
- State Farm offers discounts for passive restraint, multiple autos, Steer Clear safe driver discount, student away at school, safe vehicle, and multiple policy.
- Auto-Owners Insurance offers discounts including anti-lock brakes, mature driver, company car, safe vehicle, safe driver, and anti-theft.
- GEICO discounts include multi-policy, multi-vehicle, defensive driver, membership and employees, good student, and five-year accident-free.
- SAFECO policyholders can earn discounts including drive less, accident prevention training, teen safe driver, anti-lock brakes, teen safety rewards, and anti-theft.
It’s a good idea to ask each company which discounts you qualify for. Some of the discounts discussed earlier may not apply to policies in Lexington. For a list of providers that offer many of these discounts in Kentucky, click here.
Finding cheap Hyundai Equus auto insurance quotes is actually quite simple. Just invest a few minutes comparing rates to discover which company has affordable Hyundai Equus insurance quotes.
Online shopping is fast and free, and it replaces the need to spend time driving to insurance agents’ offices. Comparing Hyundai Equus insurance rates online eliminates the middleman unless you have a need for the professional abilities that you can only get from talking to an agent. You can, however, price shop your coverage online and have a local agent actually service the policy.
The companies shown below are our best choices to provide price quotes in Kentucky. To get cheaper auto insurance in Lexington, it’s highly recommended you get price quotes from several of them in order to find the most competitive rates.
You Can Change Your Insurance Costs
Multiple criteria are part of the equation when pricing auto insurance. Most are fairly basic like a motor vehicle report, although some other factors are more transparent such as whether you are married or how financially stable you are. Part of the auto insurance buying process is learning some of the elements that aid in calculating the level of your policy premiums. If you have some idea of what determines premiums, this helps enable you to make changes that could result in lower rates.
The factors shown below are some of the items used by insurance companies to determine prices.
Reduce premiums by driving cars with good safety ratings – Vehicles with good safety scores cost less to insure. These vehicles result in less severe injuries and any reduction in injury severity translates into savings for insurance companies and thus lower rates. If the Hyundai Equus is rated at least four stars on Safercar.gov you are probably receiving a discount.
Older drivers save more – Older, more experienced drivers are viewed as being more responsible, statistically cause fewer accidents, and are generally more financially stable. Inexperience drivers are statistically proven to be more careless with other occupants in the car and because of this, their auto insurance rates are much higher.
No policy gaps is important – Not having insurance is not a good idea and auto insurance companies will penalize you for letting your insurance lapse for non-payment. In addition to paying higher rates, being ticketed for driving with no insurance can result in a fine, jail time, or a revoked license.
Women tend to be lower risk – Over the last 30 years, statistics show that men are more aggressive behind the wheel. That doesn’t necessarily mean that men are WORSE drivers than women. Both genders tend to get into fender benders in similar numbers, but the men cause more damage and cost insurance companies more money. Men also tend to get higher numbers of serious violations like DUI and reckless driving. Young men ages 16 to 20 are most likely to cause an accident so it costs more to insure them.
Hyundai Equus insurance loss data – Companies take into consideration insurance loss statistics for every vehicle to help calculate premium rates. Models that have higher prevalence or dollar amount of losses will cost more to insure.
The information below illustrates the loss history for Hyundai Equus vehicles. For each insurance policy coverage type, the statistical loss for all vehicles, as an average, is considered to be 100. Values under 100 suggest a positive loss record, while numbers above 100 indicate more frequent losses or an increased chance of larger losses than average.
|Specific Hyundai Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Hyundai Equus 4dr||155||83||225||85|
Empty fields indicate not enough data collected
Data Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Tailor your auto insurance coverage to you
When it comes to coverage for your vehicles, there really is no best way to insure your cars. Your financial needs are unique.
These are some specific questions may help you determine whether you may require specific advice.
- Should I put collision coverage on all my vehicles?
- Is a blown tire covered by insurance?
- Do I have coverage if I rent a car in Mexico?
- What is the difference between comprehensive and collision coverage?
- How does medical payments coverage work?
- If my Hyundai Equus is totaled, can I afford another vehicle?
- Do I pay less for low miles?
If you’re not sure about those questions but a few of them apply then you might want to talk to a licensed agent. To find lower rates from a local agent, simply complete this short form. It’s fast, doesn’t cost anything and you can get the answers you need.
Get rate quotes but buy from a local neighborhood Lexington car insurance agent
Many drivers just want to get advice from a local agent and there is nothing wrong with that. Most agents can answer important questions and help file insurance claims. The best thing about comparing rate quotes online is that drivers can save money and get better rates but still work with a licensed agent.
Upon completion of this short form, your insurance coverage information is submitted to insurance agents in Lexington that can give you free Lexington auto insurance quotes for your insurance coverage. You never need to leave your house since rate quotes are delivered to your email. If you need to compare prices from one company in particular, you just need to jump over to their website to submit a rate quote request.
Picking the best company should include more criteria than just a cheap quote. The answers to these questions are important, too.
- Are claims handled at the agent’s location?
- What discounts might you be missing?
- Does the agency have a current Errors and Omissions policy?
- Which insurance company do they prefer to write with?
- Which companies can they place coverage with?
- Who is covered by the car insurance policy?
- Are glass claims handled on-site or do you have to take your vehicle to a repair shop?
- Is the coverage adequate for your vehicle?
Two types of car insurance agents
If you need to find a reliable agent, you need to know there are two different types of agencies and how they are distinctly different. Insurance agencies in Lexington can either be independent or exclusive depending on the company they work for. Either can sell and service auto insurance coverage, but it’s worth learning the difference between them because it may have an impact on which type of agent you select.
Exclusive Insurance Agents
Agents that choose to be exclusive normally can only provide a single company’s rates like State Farm, AAA, Farmers Insurance or Allstate. These agents are unable to compare other company’s rates so keep that in mind. Exclusive agencies receive extensive training on their company’s products and that enables them to sell even at higher rates.
Listed below is a short list of exclusive agents in Lexington that are able to give rate quotes.
Independent Auto Insurance Agencies
Independent agents can sell policies from many different companies and that enables them to quote your coverage with a variety of different insurance companies and potentially find a lower price. If premiums increase, an independent agent can move your coverage and you don’t have to do anything.
If you need lower rates, you definitely need to compare prices from at a minimum one independent agency to have the best price comparison.
The following is a list of independent insurance agents in Lexington that can give you price quote information.
Once you have acceptable answers to these questions and an acceptable price quote, you may have found a car insurance agent that is reputable and can provide auto insurance coverage. Just keep in mind you are able to cancel your coverage for any reason so never assume you are locked into the auto insurance policy with no way out.
Three reasons auto insurance is important
Even though Lexington Equus insurance rates can get expensive, buying auto insurance is mandatory in Kentucky but it also protects more than you think.
First, the majority of states have mandatory insurance requirements which means state laws require a specific level of liability insurance if you want to drive legally. In Kentucky these limits are 25/50/10 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
Second, if you bought your vehicle with a loan, it’s most likely the lender will force you to carry insurance to guarantee payment of the loan. If coverage lapses or is canceled, the lender may insure your Hyundai at a much higher premium rate and force you to pay for the expensive policy.
Third, auto insurance preserves both your Hyundai and your personal assets. Insurance will also pay for all forms of medical expenses for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, also pays for attorney fees and expenses if you are sued as the result of your driving. If your vehicle suffers damage from an accident or hail, comprehensive and/or collision insurance will pay to have it repaired.
The benefits of having insurance more than cancel out the cost, especially for larger claims. Unknowingly, the average driver overpays as much as $700 annually so it’s important to compare rates each time the policy renews to ensure rates are inline.
Cover all your bases
Consumers who switch companies do it for a number of reasons such as high rates after DUI convictions, poor customer service, questionable increases in premium or unfair underwriting practices. Regardless of your reason, choosing a new insurance company can be pretty painless.
You just learned many ways to save on Hyundai Equus insurance in Lexington. The key thing to remember is the more quotes you get, the higher your chance of finding low cost Lexington auto insurance quotes. Consumers could even find that the biggest savings come from a lesser-known regional company.
Cheaper Hyundai Equus insurance in Lexington can be sourced from both online companies in addition to many Lexington insurance agents, so you need to quote Lexington auto insurance with both in order to have the best chance of saving money. There are still a few companies who may not provide the ability to get a quote online and these smaller providers sell through independent agents.
Steps to finding low-cost rates for Hyundai Equus insurance in Lexington
Really, the only way to get budget auto insurance rates is to compare quotes once a year from insurance carriers that insure vehicles in Lexington. Drivers can shop around by following these steps.
- It will benefit you to learn about how companies set rates and the modifications you can make to keep rates down. Many policy risk factors that cause rate increases like high-risk driving behaviors and poor credit history can be amended by making minor driving habit or lifestyle changes.
- Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can give quotes from one company like GEICO and State Farm, while independent agencies can quote rates from many different companies. Compare rates
- Compare the quotes to the price on your current policy to see if a cheaper rate is available. If you find a lower rate and switch companies, make sure coverage does not lapse between policies.
One thing to remember is to use identical deductibles and limits on every quote request and and to get prices from as many companies as you can. This guarantees an apples-to-apples comparison and a complete rate analysis.
For more information, feel free to browse the following helpful articles:
- State Laws for Cellphones and Texting (iihs.org)
- Who Has Cheap Car Insurance for Welfare Recipients in Lexington? (FAQ)
- How Much is Lexington Auto Insurance for a Company Car? (FAQ)
- What Auto Insurance is Cheapest for a Dodge Ram in Lexington? (FAQ)
- What Auto Insurance is Cheapest for High School Students in Lexington? (FAQ)
- Help Your Teen Be a Better Driver (State Farm)
- Where can I buy Insurance? (Insurance Information Institute)
- Teen Driver Statistics (Insurance Information Institute)
- Property Damage Coverage (Liberty Mutual)