It’s an obvious assumption that auto insurance companies don’t want policyholders to shop around. Consumers who shop around for the cheapest rate are very likely to buy a different policy because there is a good chance of finding a lower-priced policy. A recent survey discovered that drivers who regularly shopped around saved approximately $3,400 over four years compared to drivers who never compared other company’s rates.
If finding the cheapest price on Hyundai Genesis insurance in Madison is your objective, then understanding how to find and compare car insurance can save money and time.
Really, the only way to get more affordable Hyundai Genesis insurance is to start comparing prices regularly from insurers who provide auto insurance in Madison. Rates can be compared by completing these steps.
Step 1: Get a basic knowledge of the coverage provided by your policy and the steps you can take to prevent high rates. Many factors that increase rates like traffic citations and a lousy credit rating can be improved by making minor changes in your lifestyle. This article gives more details to prevent high prices and get additional discounts that may be available.
Step 2: Compare prices from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can provide rates from one company like Progressive or Farmers Insurance, while agents who are independent can provide prices from many different companies. Find a Madison insurance agent
Step 3: Compare the quotes to your existing coverage to see if a cheaper rate is available. If you can save some money and switch companies, ensure there is no coverage lapse between policies.
Step 4: Provide notification to your current company of your decision to cancel your existing policy. Submit a down payment along with a completed application to the newly selected company. As soon as you can, keep the new certificate verifying coverage in your vehicle.
An essential thing to point out is to use similar coverage information on every price quote and and to get rate quotes from as many different insurance providers as possible. This enables an apples-to-apples comparison and a complete rate analysis.
If you have car insurance now, you will be able to get lower rates using the concepts covered in this article. Finding affordable car insurance coverage in Madison is actually quite easy if you know where to start. But Wisconsin drivers can benefit by having an understanding of how companies calculate their prices.
Get discounts to get affordable Madison auto insurance rates
Car insurance can cost a lot, but there are discounts available to reduce the price significantly. A few discounts will be applied when you complete an application, but some need to be requested specifically in order for you to get them. If you aren’t receiving every discount you deserve, it’s possible you qualify for a lower rate.
- Defensive Driving Course – Completing a defensive driving course is a good idea and can lower rates and also improve your driving technique.
- Accident Forgiveness Coverage – This isn’t a discount exactly, but a few companies such as GEICO, Allstate and Liberty Mutual will allow you to have one accident without the usual rate increase so long as you haven’t had any claims prior to the accident.
- Braking Control Discount – Cars with ABS braking systems or traction control are much safer to drive and the ABS can save up to 10%.
- Multiple Cars – Buying a policy with multiple vehicles with the same auto insurance company can get a discount for every vehicle.
- Active Military Service – Being deployed in the military can result in better premium rates.
- Early Payment Discounts – If you pay your entire premium ahead of time instead of paying each month you may reduce your total bill.
- Madison Homeowners Pay Less – Owning your own home or condo can help you save on auto insurance because owning a home requires personal responsibility.
- Savings for New Vehicles – Buying a new car instead of a used Genesis can save up to 30% because newer vehicles are generally safer.
- Seat Belts Save more than Lives – Requiring all passengers to fasten their seat belts can save up to 10 percent (depending on the company) off the PIP or medical payment premium.
- Discounts for Government Workers – Federal government employees could cut as much as 10% off depending on your auto insurance provider.
Discounts reduce rates, but you should keep in mind that some credits don’t apply to all coverage premiums. Some only reduce specific coverage prices like comp or med pay. So when the math indicates you would end up receiving a 100% discount, it just doesn’t work that way.
The example below illustrates the difference between Hyundai Genesis car insurance rates with and without discounts applied to the policy rates. The costs are based on a male driver, a clean driving record, no at-fault accidents, Wisconsin state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, multi-policy, safe-driver, marriage, and claim-free discounts applied.
A list of companies and the discounts they provide can be found below.
- Progressive may include discounts for good student, continuous coverage, online quote discount, online signing, multi-policy, homeowner, and multi-vehicle.
- MetLife offers discounts including multi-policy, claim-free, defensive driver, good student, good driver, accident-free
- Mercury Insurance includes discounts for age of vehicle, ease of repair, multi-car, type of vehicle, anti-theft, low natural disaster claims, and multi-policy.
- Nationwide has savings for easy pay, defensive driving, family plan, accident-free, multi-policy, business or organization, and Farm Bureau membership.
- GEICO has discounts for emergency military deployment, anti-theft, anti-lock brakes, federal employee, multi-vehicle, and air bags.
- AAA may offer discounts for pay-in-full, education and occupation, AAA membership discount, multi-policy, multi-car, and anti-theft.
If you are trying to find affordable Madison auto insurance quotes, ask each insurance company which discounts they offer. Savings might not be offered on policies in Madison.
It’s important to know that getting more free quotes provides better odds of finding a lower rate. Some companies don’t provide price estimates online, so you should also compare price estimates from them, too.
The car insurance companies shown below can provide comparison quotes in Madison, WI. If your goal is to find cheap auto insurance in Wisconsin, we suggest you visit several of them in order to get a fair rate comparison.
Coverage information
The rate table displayed below outlines different insurance premium costs for Hyundai Genesis models. Understanding how insurance policy rates are formulated can benefit drivers when making smart choices when selecting a policy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Genesis 2.0T 2-Dr Coupe | $156 | $370 | $374 | $22 | $112 | $1,034 | $86 |
| Genesis 3.8 4-Dr Sedan | $174 | $322 | $254 | $16 | $76 | $842 | $70 |
| Genesis 2.0T Premium 2-Dr Coupe | $174 | $370 | $374 | $22 | $112 | $1,052 | $88 |
| Genesis 3.8 2-Dr Coupe | $174 | $370 | $374 | $22 | $112 | $1,052 | $88 |
| Genesis 2.0T Track 2-Dr Coupe | $174 | $370 | $374 | $22 | $112 | $1,052 | $88 |
| Genesis 3.8 Grand Touring 2-Dr Coupe | $174 | $370 | $374 | $22 | $112 | $1,052 | $88 |
| Genesis 4.6 4-Dr Sedan | $174 | $370 | $254 | $16 | $76 | $890 | $74 |
| Genesis 3.8 Track 2-Dr Coupe | $174 | $418 | $374 | $22 | $112 | $1,100 | $92 |
| Get Your Own Custom Quote Go | |||||||
Data variables include single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, safe-driver, and claim-free. Rates do not factor in your specific Madison location which can lower or raise prices significantly.
Auto insurance premiums based on gender
The diagram below compares Hyundai Genesis insurance costs for male and female drivers. The premium estimates are based on a clean driving record, no claims, full coverage, $1,000 deductibles, single status, and no discounts are applied.
Price comparison of only insuring for liability
The illustration below shows the comparison of Hyundai Genesis auto insurance costs with full physical damage coverage compared to only buying liability only. Data assumes no violations or accidents, $1,000 deductibles, drivers are single, and no additional discounts are factored in.
Guidelines for dropping full coverage
There is no clear-cut rule to drop physical damage coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than around 10% of the replacement cost minus the deductible, then it might be time to consider dropping full coverage.
For example, let’s pretend your Hyundai Genesis replacement value is $5,000 and you have $1,000 policy deductibles. If your vehicle is destroyed, you would only receive $4,000 after paying your policy deductible. If you are paying in excess of $400 annually for comprehensive and collision coverage, then it might be time to buy liability only.
There are some scenarios where eliminating full coverage is not advised. If you still have a lienholder on your title, you have to carry full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should keep full coverage on your policy.
Exclusive or independent auto insurance agents
Some people just want to buy from a local agent and that is a smart decision One of the best bonuses of comparing rate quotes online is that you can obtain cheap auto insurance rates and still choose a local agent.
Once you complete this short form, your information gets sent to local insurance agents in Madison who will give competitive quotes for your auto insurance coverage. You don’t have to leave your computer as quotes are delivered immediately to your email address. You can find the lowest rates without a big time investment. In the event you want to get a comparison quote from a specific insurance company, you can always visit that company’s website and complete a quote there.
Deciding on a insurance company shouldn’t rely on just a cheap price. Any good agent in Madison should know the answers to these questions.
- Is there a 24/7 contact number?
- Do they see any coverage gaps in your plan?
- If your car is in the repair shop, do you have coverage for a rental car?
- Is the quote a firm price?
- By raising physical damage deductibles, how much would you save?
- Do they get paid more for recommending certain coverages?
If you’re trying to find local Madison agents, you must know there are a couple different agency structures from which to choose. Agents in Madison may be either independent or exclusive depending on the company they work for.
Exclusive Insurance Agencies
Agents of this type can only provide one company’s prices and some examples include State Farm, AAA, and Liberty Mutual. Exclusive agencies are unable to shop your coverage around so keep that in mind. Exclusive insurance agents are very knowledgeable in insurance sales and that can be a competitive advantage.
Shown below are Madison exclusive agencies who can help you get comparison quotes.
Farmers Insurance – Debra Armstrong
621 N Sherman Ave, Ste B16 – Madison, WI 53704 – (608) 222-1400 – View Map
American Family Insurance – Brian Uelmen
4222 Milwaukee St Ste 81 – Madison, WI 53714 – (608) 241-8688 – View Map
Farmers Insurance – Laura Beck Nielsen
1915 Winnebago St #102 – Madison, WI 53704 – (608) 237-3747 – View Map
Independent Agencies or Brokers
Independent agents are not employed by any specific company so they have the ability to put coverage with multiple insurance companies enabling the ability to shop coverage around. If prices rise, they can switch companies in-house which requires no work on your part.
When searching for an agent, you definitely need to get several quotes from a few independent agents for maximum quote selection.
Shown below are Madison independent agents willing to provide price quote information.
The Curtis Agency
2929 Atwood Ave – Madison, WI 53704 – (608) 250-2501 – View Map
Affiliated Insurance-Wisconsin
3830 Atwood Ave – Madison, WI 53714 – (608) 273-3361 – View Map
Above and Beyond Insurance
6601 Grand Teton Plaza #7 – Madison, WI 53719 – (608) 203-8666 – View Map
Don’t give up on affordable rates
When buying insurance coverage, never skimp on critical coverages to save a buck or two. There have been many situations where consumers will sacrifice comprehensive coverage or liability limits to discover at claim time that saving that couple of dollars actually costed them tens of thousands. Your goal is to buy enough coverage at an affordable rate, but don’t skip important coverages to save money.
We’ve covered many ways to save on Hyundai Genesis insurance in Madison. The key concept to understand is the more price quotes you have, the higher the chance of saving money. Consumers may even find the lowest prices come from a company that doesn’t do a lot of advertising. These smaller insurers may often insure only within specific states and give better rates than their larger competitors like Allstate, GEICO and Progressive.
Additional detailed information can be read at these sites:
- Tread Depth and Tire Safety (State Farm)
- Who Has the Cheapest Auto Insurance for Used Cars in Madison? (FAQ)
- What Insurance is Cheapest for Immigrants in Madison? (FAQ)
- Who Has Cheap Madison Auto Insurance for a Ford Explorer? (FAQ)
- Understanding Your Insurance Deductible (Insurance Information Institute)
- Rental Car Insurance Tips (Insurance Information Institute)