Price shopping your Hyundai Elantra insurance in Chicago can be frustrating for drivers who have little experience online comparison shopping. With literally dozens of companies, it can quickly become a big hassle to compare rates on Hyundai Elantra insurance.
Astonishing but true, a large majority of car insurance policyholders in Illinois renewed their policy with the same company for well over three years, and 38% of customers have never compared rate quotes at all. Consumers in America could save an average of $850 each year, but most just don’t grasp how much savings they would realize if they replace their high priced policy.
It’s important to know that comparing more rates from different companies will improve the odds of getting more affordable rates. Some smaller insurers do not give online price quotes, so it’s necessary to compare price estimates from the smaller companies as well.
The car insurance companies shown below are our best choices to provide price quotes in Illinois. If multiple companies are listed, we suggest you get prices from several of them in order to get a fair rate comparison.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Elantra GLS Touring Station Wagon | $98 | $162 | $228 | $14 | $68 | $570 | $48 |
| Elantra Blue 4-Dr Sedan | $122 | $332 | $294 | $18 | $88 | $854 | $71 |
| Elantra GLS 4-Dr Sedan | $174 | $392 | $294 | $18 | $88 | $966 | $81 |
| Elantra SE 4-Dr Sedan | $182 | $398 | $352 | $20 | $106 | $1,058 | $88 |
| Elantra SE Touring Station Wagon | $158 | $310 | $288 | $18 | $86 | $860 | $72 |
| Get Your Own Custom Quote Go | |||||||
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Illinois minimum liability limits. Discounts applied include homeowner, multi-vehicle, multi-policy, safe-driver, and claim-free. Information does not factor in your specific Chicago location which can impact coverage prices substantially.
Auto insurance deductibles
The information below illustrates how choosing a deductible and can change Hyundai Elantra yearly insurance costs for different insured age categories. The price estimates are based on a married female driver, comp and collision included, and no other discounts are factored in.
Should you buy full coverage?
The illustration below illustrates the difference between Hyundai Elantra car insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no driving violations, no at-fault accidents, $500 deductibles, single female driver, and no discounts are factored in.
Are you wasting money paying for full coverage?
There isn’t a steadfast formula to eliminate comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of coverage is more than 10% of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your Hyundai Elantra replacement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is totaled in an accident, the most your company will settle for is $7,000 after you pay the deductible. If premiums are more than $700 annually for your policy with full coverage, then it’s probably a good time to buy liability coverage only.
There are some cases where only buying liability is not recommended. If you haven’t paid off your loan, you have to carry full coverage as part of the loan requirements. Also, if you can’t afford to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.
Get cheaper Hyundai Elantra insurance in Chicago with discounts
Car insurance is not cheap, but you may be missing some discounts that could help you make your next renewal payment. A few discounts will be applied when you purchase, but a few must be asked about before you will receive the discount. If they aren’t giving you every credit you deserve, you’re paying more than you need to.
- Use Seat Belts – Drivers who require all occupants to buckle up before driving can save 10% or more on medical payment and PIP coverage.
- Fewer Miles Equal More Savings – Driving fewer miles could be rewarded with discounted rates on garaged vehicles.
- Paper-free Discount – A handful of companies will give a small break for signing up on their website.
- Discounts for Good Drivers – Drivers without accidents may save up to 50% more than less cautious drivers.
- Waiver for an Accident – This one is not really a discount per se, but companies like Progressive, Allstate, and GEICO allow you one accident without the usual rate increase so long as you haven’t had any claims before the accident.
- Life Insurance Discount – If the company offers life insurance, you could get lower rates if you buy life insurance from them.
- Good Student Discount – This discount can save 20 to 25%. Many companies even apply the discount to college students up until you turn 25.
- Telematics Data Discounts – Policyholders that allow their insurance company to scrutinize when and where they use their vehicle by installing a telematics device like In-Drive from State Farm and Progressive’s Snapshot might see lower rates if they show good driving skills.
- Drivers Ed for Students – Reduce the cost of insurance for teen drivers by having them successfully take a driver’s education course if offered at their school.
One thing to note about discounts is that most of the big mark downs will not be given to all coverage premiums. Some only apply to individual premiums such as medical payments or collision. Despite the fact that it seems like you can get free auto insurance, companies don’t profit that way.
A few of the larger companies and a partial list of their discounts are detailed below.
- State Farm offers premium reductions for multiple policy, Steer Clear safe driver discount, defensive driving training, Drive Safe & Save, and driver’s education.
- GEICO policyholders can earn discounts including daytime running lights, anti-theft, multi-vehicle, air bags, five-year accident-free, and military active duty.
- SAFECO may offer discounts for safe driver, drive less, accident prevention training, homeowner, anti-lock brakes, anti-theft, and bundle discounts.
- Farmers Insurance offers discounts including good student, youthful driver, early shopping, switch companies, and teen driver.
- AAA discounts include education and occupation, multi-car, multi-policy, pay-in-full, anti-theft, and good driver.
- USAA may have discounts that include vehicle storage, loyalty savings, family discount, annual mileage, driver training, multi-policy, and safe driver.
When getting free Chicago car insurance quotes, it’s a good idea to all companies you are considering how you can save money. Some credits may not be available in Chicago.
Do I need an insurance agent?
Certain consumers would rather go talk to an agent and that is not a bad decision One of the benefits of comparing rates online is you can get cheap rate quotes and still have a local agent. Buying insurance from local insurance agents is important particularly in Chicago.
To help locate an agent, after submitting this short form, your information is instantly submitted to local insurance agents in Chicago who want to provide quotes for your auto insurance coverage. It makes it easy because there is no need to even leave your home since price quotes are sent to your email. You can find the lowest rates without the usual hassles of price shopping. In the event you want to compare prices for a specific company, you would need to search and find their rate quote page and submit a quote form there.
Finding the right company shouldn’t rely on just the price. Below are some questions you should ask.
- What insurance companies do they work with in Chicago?
- Can they give you a list of client referrals?
- Do you have coverage for a rental car if your vehicle is in the repair shop?
- Are claims handled at the agent’s location?
- Does the company allow you to choose your own collision repair facility?
- Do they assist clients in filing claims?
- Will you work with the agent or an assistant?
- Does the agency provide any after hours assistance?
How to know if you need help
When it comes to buying coverage, there really is not a best way to insure your cars. Your financial needs are unique.
For example, these questions could help you determine if your situation might need professional guidance.
- Does my liability insurance cover pulling a trailer or camper?
- How much liability coverage do I need in Illinois?
- Is my custom paint covered by insurance?
- What is glass protection for?
- Does my policy cover my teen driver if they drive my company car?
- Is my teenager covered with friends in the car?
- Do I need rental car coverage?
- Can my teen driver be rated on a liability-only vehicle?
- How does medical payments coverage work?
If you don’t know the answers to these questions, then you may want to think about talking to a licensed agent. If you want to speak to an agent in your area, fill out this quick form.
What Determines Hyundai Elantra Insurance Rates?
Smart consumers have a good feel for some of the factors that come into play when calculating your insurance rates. When consumers understand what controls the rates you pay, this helps enable you to make changes that can earn you cheaper rates. Multiple criteria are considered when you get your auto insurance bill. Some are pretty understandable like a motor vehicle report, but other factors are not quite as obvious like where you live or your vehicle rating.
The factors shown below are some of the things used by companies to determine rates.
- Age of drivers – Youthful drivers in Illinois are statistically proven to be inattentive and easily distracted behind the wheel so insurance rates are higher. Mature drivers are more cautious drivers, tend to cause fewer accidents, and usually have better credit.
- Frequent policy claims will cost more – Auto insurance companies in Illinois provide better rates to people who are claim-free. If you’re an insured who likes to file claims you can pretty much guarantee much higher rates or policy non-renewal. Your car insurance is intended to be relied upon for claims that you cannot pay yourself.
- Annual mileage and car insurance rates – The higher the miles on your Hyundai in a year’s time the more you’ll pay to insure your vehicle. A lot of insurance companies calculate prices partially by how you use the vehicle. Cars and trucks used primarily for pleasure use cost less to insure as compared to vehicles used primarily for driving to work. Make sure your policy reflects annual mileage, because it can save money. A policy that improperly rates your Elantra may be costing you.
- What type of car do you drive? – The performance of the vehicle you are buying insurance for makes a significant difference in your rates. Since the Hyundai Elantra is considered a passenger car, insuring your vehicle will cost similar in price or lower when compared to the average rates in Chicago. Lower performance four cylinder passenger models generally have the cheapest insurance rates, but other factors influence the final cost greatly.
- Insurance loss data for Hyundai Elantra vehicles – Insurance companies include the past claim trends for vehicles as a way to help calculate a profitable premium rate. Models that have a higher amount or frequency of claims will have a higher cost to insure. The table below illustrates the insurance loss data used by companies for Hyundai Elantra vehicles.
For each coverage type, the claim probability for all vehicles averaged together is set at 100. Values that are under 100 suggest losses that are better than average, while numbers above 100 indicate frequent claims or a tendency for losses to be larger than average.
Hyundai Elantra Insurance Loss Statistics
Specific Hyundai Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Hyundai Elantra 102 102 90 133 137 117 Hyundai Elantra GT 95 91 95 112 114 107 Statistics from IIHS.org for 2013-2015 Model Years
Here’s why car insurance is not optional
Even though it’s not necessarily cheap to insure a Hyundai in Chicago, insurance may be required for several reasons.
- Just about all states have mandatory insurance requirements which means the state requires a specific level of liability insurance in order to get the vehicle licensed. In Illinois these limits are 20/40/15 which means you must have $20,000 of bodily injury coverage per person, $40,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If your Hyundai Elantra has a lien holder, almost every bank will make it a condition of the loan that you have physical damage coverage to ensure loan repayment if the vehicle is totalled. If you do not keep the policy in force, the bank will be required to insure your Hyundai for a lot more money and force you to reimburse them for the much more expensive policy.
- Insurance protects both your car and your personal assets. It also can pay for medical bills for yourself as well as anyone injured by you. Liability insurance will also pay attorney fees if you are named as a defendant in an auto accident. If your vehicle suffers damage from an accident or hail, comprehensive and collision coverage will pay to repair the damage minus the deductible amount.
The benefits of having insurance definitely exceed the cost, particularly when you have a large claim. In a recent study of 1,000 drivers, the average customer overpays more than $855 a year so compare quotes from several companies every year to ensure rates are competitive.
Compare car insurance prices regularly to save
When getting Chicago car insurance quotes online, you should never reduce coverage to reduce premium. There are too many instances where an accident victim reduced collision coverage and found out when filing a claim they didn’t purchase enough coverage. Your focus should be to buy a smart amount of coverage at an affordable rate while still protecting your assets.
Cheaper car insurance in Chicago can be found online in addition to many Chicago insurance agents, and you need to comparison shop both in order to have the best chance of saving money. Some insurance providers may not have price quotes online and many times these smaller companies provide coverage only through independent insurance agencies.
Throughout this article, we presented many ideas to shop for Hyundai Elantra insurance online. It’s most important to understand that the more companies you get rates for, the better your comparison will be. Consumers could even find that the best prices are with a small mutual company.
To read more, feel free to browse these articles:
- All About Airbag Safety (State Farm)
- Who Has the Cheapest Auto Insurance Quotes for Homeowners in Chicago? (FAQ)
- What Car Insurance is Cheapest for a Jeep Wrangler in Chicago? (FAQ)
- What to do at the Scene of an Accident (Insurance Information Institute)
- Tools for Teen Driving Safety (State Farm)