If you are a novice to online car insurance shopping, you can be bewildered because of the huge number of online companies offering coverage in Phoenix.
Shockingly, a large majority of consumers have purchased from the same company for more than four years, and 38% of customers have never shopped around. Phoenix consumers could pocket $730 a year by just shopping around, but they just don’t understand how much money they would save if they moved their coverage to a different company.
You should make it a habit to compare premium rates periodically since prices go up and down regularly. Despite the fact that you may have had the lowest rate on Hyundai Veloster insurance in Phoenix at your last renewal you may be paying too much now. You can find a lot of misleading information regarding Veloster insurance online, but in a few minutes you can learn the easiest ways to slash your car insurance rates in Phoenix.
Quoting and buying more affordable coverage in Phoenix is simple if you know the tricks. In essence, every driver who needs lower cost insurance will be able to save money. Although Arizona consumers do need to know how insurance companies calculate their prices and take advantage of how the system works.
Smart Consumers Know How to Quote Car Insurance More Affordably
The best way to find cheaper car insurance is to take a look at some of the factors that go into determining your policy premiums. If you know what influences your rates, this empowers consumers to make smart changes that will entitle you to better car insurance rates.
The items below are just a few of the factors companies use to determine premiums.
Higher prices for high stress vocations – Did you know your car insurance rates can be affected by your occupation? Occupations like fire fighters, social workers and emergency personnel generally pay higher rates than average due to job stress and long work days. On the other hand, professions such as scientists, engineers and the unemployed have the lowest average rates.
Rural vs Urban Areas – Living in a rural area has definite advantages when it comes to car insurance. People in densely populated areas regularly have more aggressive driving styles and a longer drive to work. Fewer drivers and short commutes means fewer accidents in addition to fewer liability claims.
Higher deductibles save money – Your deductibles are the amount of money you are required to spend out-of-pocket if a covered claim is submitted. Physical damage protection, also called ‘full coverage’, insures against damage to your car. Some coverage claims would be colliding with a stationary object, damage from fire, or theft of your vehicle. The more damage repair cost you choose to pay out-of-pocket, the less your company will charge you for insurance.
Your age impacts your rates – Young drivers in Arizona are known to be easily distracted when driving with friends so they pay higher car insurance rates. Older, more experienced drivers are proven to be safer behind the wheel, statistically cause fewer accidents, and receive fewer citations.
Avoid car insurance lapses – Not having insurance can get you a ticket and any future policy may cost more because you let your coverage lapse. In addition to paying higher rates, failure to provide proof of insurance might get you fines or a revoked license.
High credit means lower rates – An insured’s credit score is a big factor in calculating your premium rate. If your credit history can use some improvement, you could be paying less to insure your Hyundai Veloster by taking the time to improve your credit score. People with high credit ratings tend to file fewer claims and have better driving records as compared to drivers with poor credit scores.
Lower performance equals lower insurance prices – The type of car you drive makes a huge difference in your premium level. The lowest base rates will normally be found when insuring lower cost passenger cars, but the final cost of insurance is determined by many other factors. Due to the fact that the Hyundai Veloster is classified as a sports car, insurance will be much more as compared to the average rate in Phoenix.
Hyundai Veloster claim probability – Insurers study historical loss data to help set a rate to offset losses. Vehicles that have higher claim amounts or frequency will have higher premium rates. The table below shows the insurance loss data used by companies for Hyundai Veloster vehicles.
For each insurance policy coverage type, the statistical loss for all vehicles as a whole is a value of 100. Numbers shown that are under 100 indicate a favorable loss history, while percentage values above 100 indicate more frequent claims or a tendency for losses to be larger than average.
Hyundai Veloster Insurance Claim Statistics
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Hyundai Veloster Turbo||116||87||104||98||89||101|
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
When comparison shopping, there are several ways of comparing rates from car insurance companies in your area. By far the easiest way to find competitive Hyundai Veloster insurance rates is to use the internet to compare rates. Just keep in mind that comparing a large number of companies helps locate a lower rate than you’re paying now. Some companies don’t provide online price quotes, so it’s important to also get price estimates from the smaller companies as well.
The following companies offer price comparisons in Phoenix, AZ. If multiple providers are shown, it’s highly recommended you get price quotes from several of them to find the lowest car insurance rates.
Insurance ads bend the truth
Companies like Progressive, Allstate and GEICO regularly use television and radio advertisements. They all seem to make the promise about how much you will save if you change your coverage. But how can every company sell you cheaper insurance coverage?
Different companies quote the lowest rates for the type of driver that will not have excessive claims. One example of a preferred risk may need to be over the age of 35, owns their home, and insures a new vehicle. Any new insured that meets those criteria will qualify for the lowest premium rates in Phoenix and therefore will cut their Hyundai Veloster insurance rates if they switch.
People who don’t meet these stringent criteria may be required to pay higher premiums with the end result being the driver buying from a lower-cost company. If you pay close attention to the ads, they say “customers that switch” not “all people who quote” save the amount stated. That’s why insurance companies can lure you into getting a quote.
Because each company has a different risk profile, you should do a price quote comparison at every renewal. You cannot predict the company that will provide you with the cheapest Hyundai Veloster insurance in Phoenix.
Insurance just makes sense
Despite the high cost, insuring your vehicle serves several important purposes.
- Almost all states have minimum mandated liability insurance limits which means the state requires a specific level of liability if you drive a vehicle. In Arizona these limits are 15/30/10 which means you must have $15,000 of bodily injury coverage per person, $30,000 of bodily injury coverage per accident, and $10,000 of property damage coverage.
- If you have a lien on your Hyundai Veloster, almost all lenders will stipulate that you have physical damage coverage to guarantee their interest in the vehicle. If you default on your policy, the bank may insure your Hyundai at a more expensive rate and require you to fork over much more than you were paying before.
- Insurance protects your Hyundai and your assets. Insurance will pay for most medical and hospital costs that are the result of an accident. One of the most valuable coverages, liability insurance, will also pay for a defense attorney in the event you are sued. If damage is caused by hail or an accident, comprehensive and/or collision insurance will pay to repair the damage minus the deductible amount.
The benefits of carrying enough insurance greatly outweigh the cost, especially with large liability claims. As of last year, the average driver in Arizona overpays as much as $865 each year so you should quote and compare rates at every policy renewal to ensure rates are inline.
Insurance discounts are available for cheaper rates
Auto insurance companies don’t always publicize their entire list of discounts in an easy-to-find place, so here is a list some of the more common and also the more inconspicuous discounts that may be available.
- Discount for Swiching Early – Some insurance companies give discounts for buying a policy early. You could save around 10% when you buy Phoenix auto insurance online.
- No Claims – Insureds who avoid accidents and claims have much lower rates when compared with drivers with a long claim history.
- Telematics Devices – Policyholders that allow their insurance company to analyze when and where they use their vehicle through the use of a telematics system like Drivewise from Allstate or In-Drive from State Farm could see a rate decrease if their driving habits are good.
- Active Military Service – Having an actively deployed family member could be rewarded with lower rates.
- Payment Method – If you pay your entire premium ahead of time as opposed to paying monthly you may have a lower total premium amount.
- No Charge for an Accident – This one is not really a discount per se, but certain companies will forgive one accident before raising your premiums so long as you haven’t had any claims for a specific time period.
- Distant Student Discount – Children living away from Phoenix attending college without a vehicle on campus could qualify for this discount.
- Discount for Passive Restraints – Vehicles equipped with air bags or automatic seat belts can receive discounts up to 30%.
- Low Mileage Discounts – Fewer annual miles on your Hyundai may allow you to get lower insurance rates due to less chance of an accident.
- Drivers Education – Cut your cost by having your teen driver complete a driver education course if offered at their school.
Please keep in mind that most discount credits are not given to the overall cost of the policy. Most only apply to individual premiums such as collision or personal injury protection. Just because it seems like you could get a free insurance policy, companies don’t profit that way.
To see a list of insurers that provide some of the discounts listed above in Phoenix, click here.
Are insurance agents obsolete?
Many drivers prefer to get professional advice from a licensed agent and that is recommended in a lot of cases The biggest benefit of comparing car insurance online is that you can find better rates and still choose a local agent. Buying insurance from local agents is still important in Phoenix.
Upon completion of this short form, your information is instantly submitted to agents in your area who can give free rate quotes for your insurance coverage. You never need to drive around because quoted prices will be sent immediately to your email address. Get lower rates without having to waste a lot of time. If you want to get a price quote from a specific company, you would need to find their quoting web page and submit a quote form there.
If you are wanting to purchase car insurance from a local Phoenix insurance agent, there are a couple of different agency structures and how they differ in how they can insure your vehicles. Car insurance agencies may be either independent (non-exclusive) or exclusive.
Independent Agencies or Brokers
Agents in the independent channel are not employed by one company and that gives them the ability to insure with many different companies and find the cheapest car insurance rates. If they find a lower price, your policy is moved internally without you having to go to a different agency.
When comparing car insurance rates, it’s recommended you get rate quotes from at a minimum one independent agency for the best price selection. Many independent agencies also insure through less well-known companies who may have lower rates.
Featured below are independent insurance agencies in Phoenix who may provide comparison quotes.
- Rodriguez Insurance
5720 N 27th Ave – Phoenix, AZ 85017 – (602) 242-5303 – View Map
- American Premier Insurance Agency
16815 S Desert Foothills Pkwy #140 – Phoenix, AZ 85048 – (480) 423-3444 – View Map
- Daniels Nicolson Insurance Agency, Inc
4411 N 19th Ave – Phoenix, AZ 85015 – (800) 972-1893 – View Map
Exclusive Insurance Agencies
These type of agents can only write with one company and examples are Allstate, State Farm and Farm Bureau. These agents are not able to compare other company’s rates so keep that in mind. Exclusive agents are usually quite knowledgeable on the products they sell and that allows them to sell at a higher price point. Some people will only buy insurance from these agents primarily because of the prominent brand name rather than having the cheapest rates.
The following is a list of exclusive insurance agencies in Phoenix that can give you price quote information.
- Llyrena Sherwood – State Farm Insurance Agent
3415 W Glendale Ave #7 – Phoenix, AZ 85051 – (602) 368-9102 – View Map
- Nichole Schaffer – State Farm Insurance Agent
2612 N 7th St – Phoenix, AZ 85006 – (602) 439-7000 – View Map
- Jacob Rosell – State Farm Insurance Agent
2218 N 24th St – Phoenix, AZ 85008 – (602) 267-8200 – View Map
Selecting a car insurance agent should depend on more than just a low price. The answers to these questions are important, too.
- Does the quote include credit and driving reports?
- Which family members are covered?
- Do they have any clout with companies to ensure a fair claim settlement?
- Do they get extra compensation for selling add-on coverages?
- If independent agents, which companies do they recommend?
Your situation helps dictate your coverage
When quoting and choosing coverage online or from an agent for your personal vehicles, there really is no “best” method to buy coverage. Everyone’s needs are different and your car insurance should unique, too.
These are some specific questions might point out whether you will benefit from professional help.
- Is there coverage for my trailer?
- Can I afford to pay high deductible claims out of pocket?
- Does my car insurance cover rental cars?
- Can I rate high risk drivers on liability-only vehicles?
- Will I lose any money if I cancel my policy before it expires?
- What is covered by UM/UIM coverage?
- What is no-fault insurance?
If it’s difficult to answer those questions but a few of them apply, you may need to chat with a licensed agent. If you want to speak to an agent in your area, fill out this quick form or you can also visit this page to select a carrier
Be persistent to save money
We just presented many tips how you can save on Hyundai Veloster insurance in Phoenix. It’s most important to understand that the more price quotes you have, the better likelihood of getting affordable Hyundai Veloster insurance quotes. You may even be surprised to find that the best car insurance rates are with a lesser-known regional company. These smaller insurers may only write in your state and offer lower premium rates as compared to the big name companies such as Allstate or State Farm.
When shopping online for auto insurance, you should never buy less coverage just to save a little money. There have been many cases where someone sacrificed full coverage and found out when filing a claim that the savings was not a smart move. The goal is to purchase a proper amount of coverage for the lowest cost, but don’t skip important coverages to save money.
Even more information can be found at these sites:
- Keeping Children Safe in Crashes Video (iihs.org)
- Who Has the Cheapest Car Insurance Rates for High School Students in Phoenix? (FAQ)
- How Much is Car Insurance for Veterans in Phoenix? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for Government Employees in Phoenix? (FAQ)
- Who Has Affordable Phoenix Car Insurance Rates for High Mileage Drivers? (FAQ)
- Driving in Bad Weather (Insurance Information Institute)
- Comprehensive Coverage (Liberty Mutual)
- Information for Teen Drivers (GEICO)