Save Money on Hyundai Tucson Insurance in Madison

  1. Home
  2. >
  3. Madison Auto Insurance
  4. >
  5. Hyundai Tucson

Hyundai Tucson insurance
Hyundai Tucson insurance image courtesy of QuoteInspector.com

To save the most money, the best way to get discount Hyundai Tucson insurance is to do an annual price comparison from insurers who sell insurance in Madison.

  • Step 1: Try to understand auto insurance and the factors you can control to prevent expensive coverage. Many risk factors that result in higher rates such as traffic citations, accidents, and a poor credit rating can be amended by making lifestyle changes or driving safer.
  • Step 2: Compare price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can only provide price estimates from one company like Progressive or Allstate, while independent agencies can quote prices for many different companies.
  • Step 3: Compare the new rates to your existing policy to see if switching to a new carrier will save money. If you can save some money and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.

One tip to remember is that you'll want to compare similar deductibles and liability limits on each price quote and and to get rates from as many carriers as you can. This ensures a fair rate comparison and and a good selection of different prices.

Insurance rates Hyundai Tucson in MadisonAnyone knows that car insurance companies don't want you shop around. People who shop around for cheaper rates are likely to buy a different policy because there is a great chance of finding lower rate quotes. A survey found that people who made a habit of comparing rates saved approximately $865 a year compared to drivers who never shopped around.

If finding the cheapest rates on car insurance is why you're here, learning the best ways to find and compare insurance coverage can help simplify the task of finding more affordable coverage.

The method we recommend to compare insurance rates in your area is to realize most of the larger companies provide online access to quote your coverage. The only thing you need to do is give the companies some data like your credit rating estimate, if you have a valid license, how you use your vehicles, and if it has an anti-theft system. Those rating factors is automatically sent to multiple different insurance companies and they return rate quotes immediately.

To check rates for your Hyundai Tucson now, click here then complete the form.

The companies shown below provide free quotes in Madison, WI. To buy cheap auto insurance in Wisconsin, we suggest you visit two to three different companies to get a more complete price comparison.

Hyundai Tucson coverage statistics

The coverage information shown below highlights estimates of insurance rates for Hyundai Tucson models. Learning more about how car insurance prices are established is important to be able to make decisions when shopping around.

Hyundai Tucson Insurance Rates in Madison, WI
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tucson GLS 2WD $122 $194 $234 $14 $70 $634 $53
Tucson GLS 4WD $140 $194 $234 $14 $70 $652 $54
Tucson Limited 2WD $140 $236 $234 $14 $70 $694 $58
Tucson Limited 4WD $140 $236 $234 $14 $70 $694 $58
Get Your Own Custom Quote Go

Cost estimates assume married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Wisconsin minimum liability limits. Discounts applied include safe-driver, claim-free, multi-policy, multi-vehicle, and homeowner. Estimates do not factor in specific Madison garaging location which can raise or lower auto insurance rates greatly.

Raise deductibles and save

When shopping for auto insurance, a common question is how high should your deductibles be. The tables below approximate the rate fluctuation when you select higher and lower insurance deductibles. The first table uses a $250 deductible for physical damage and the second data table uses a $500 deductible.

Hyundai Tucson insurance rates with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tucson GLS 2WD $154 $246 $230 $14 $68 $737 $61
Tucson GLS 4WD $178 $246 $230 $14 $68 $761 $63
Tucson Limited 2WD $178 $300 $230 $14 $68 $815 $68
Tucson Limited 4WD $178 $300 $230 $14 $68 $815 $68
Get Your Own Custom Quote Go
Hyundai Tucson insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Tucson GLS 2WD $126 $198 $230 $14 $68 $636 $53
Tucson GLS 4WD $144 $198 $230 $14 $68 $654 $55
Tucson Limited 2WD $144 $242 $230 $14 $68 $698 $58
Tucson Limited 4WD $144 $242 $230 $14 $68 $698 $58
Get Your Own Custom Quote Go

Prices based on married male driver age 30, no speeding tickets, no at-fault accidents, and Wisconsin minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, homeowner, and multi-policy. Rates do not factor in zip code location which can lower or raise premium rates considerably.

Based on these figures, using a $250 deductible costs about $9 more each month or $108 a year across all Hyundai Tucson models than opting for the higher $500 deductible. Due to the fact that you would have to pay $250 more if you turn in a claim with a $500 deductible as compared to a $250 deductible, if you tend to average more than 28 months between claim filings, you would probably save some money by selecting a higher deductible.

How to calculate when to raise deductibles

Average monthly premium for $250 deductibles: $65
Average monthly premium for $500 deductibles (subtract): - $56
Monthly savings from raising deductible: $9
Difference between deductibles ($500 - $250): $250
Divide difference by monthly savings: $250 / $9
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 28 months

One important caveat is that a higher deductible means you will have to pay more when you have to file a claim. You should have some extra savings in the event you need to pay more for the deductible.

The information below illustrates how choosing a deductible and can influence Hyundai Tucson insurance rates for different ages of insureds. Data assumes a married male driver, full coverage, and no discounts are applied to the premium.

Gender-based auto insurance premiums in Madison

The chart below shows the comparison of Hyundai Tucson annual premium costs for male and female drivers. Data assumes a clean driving record, no claims, comprehensive and collision coverage, $100 deductibles, drivers are single, and no discounts are applied to the premium.

Price comparison of only insuring for liability

The information below illustrates the comparison of Hyundai Tucson car insurance rates with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. Data assumes no claims, a clean driving record, $100 deductibles, single marital status, and no discounts are applied.

When to switch to liability coverage only

There is no exact rule for phasing out comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of comprehensive and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.

For example, let's say your Hyundai Tucson claim settlement value is $8,000 and you have $1,000 policy deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $7,000 after the policy deductible has been paid. If you are paying more than $700 a year for physical damage coverage, the it may be a good time to stop paying for full coverage.

There are a few situations where removing full coverage is not a good idea. If you still have a loan on your vehicle, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not remove full coverage.

How Insurance Providers Calculate Hyundai Tucson Insurance Prices

Multiple criteria are part of the equation when pricing auto insurance. A few of the factors are predictable like an MVR report, but others are more obscure such as your marital status or your financial responsibility.

Listed below are some of the factors used by companies to determine prices.

  • Certain vocations pay higher rates - Did you know that where you work can have an impact on rates? Jobs such as military generals, executives, and medical professionals generally pay higher rates than the rest of us due to job stress and lots of time spent at work. Other occupations like scientists, historians and homemakers receive lower rates.
  • Do you qualify for a multi-policy discount? - Many companies afford discounts to insureds who buy several policies from them. It's known as a multi-policy discount. The discount can add up to five, ten or even twenty percent. If you currently are using one company, it's in your best interest to compare other Madison Tucson insurance rates to ensure the best deal. You may still be able to save more without the discount by buying from different companies
  • Long commutes cost more - The more you drive your Hyundai each year the more you will pay for car insurance. Most companies charge to insure your cars based upon how the vehicle is primarily used. Cars and trucks used primarily for pleasure use cost less to insure than vehicles that are driven to work every day. Having an incorrect usage rating on your Tucson may be costing you. It's always a good idea to double check that your car insurance policy shows the correct usage for each vehicle.
  • Influences performance influences auto insurance premiums - The performance of the car or truck you are trying to find cheaper insurance for makes a big difference in your car insurance bill. The lowest base rates are for economy passenger cars, but that's not the only thing that factors into the final price.

    The following chart is based on a married female driver age 20, full coverage with $500 deductibles, and no discounts or violations. It compares Hyundai Tucson car insurance rates compared to other makes and models that have different performance rating factors.

  • Frequent insurance claims will increase rates - If you file a lot of claims you should expect higher rates. Car insurance companies in Wisconsin give discounts to policyholders who only file infrequent claims. Auto insurance is designed for major claims that would cause financial hardship.
  • Remove unneeded incidental coverages - There are many additional coverages that you can get tricked into buying if you don't pay attention. Coverages for rental car coverage, accident forgiveness, and Farm Bureau memberships may not be needed and are just wasting money. These coverages may sound good when you first buy your policy, but if you don't need them remove them from your policy.
  • Raise comp and collision deductibles and save - Physical damage protection, otherwise known as comp (or other than collision) and collision, covers damage that occurs to your Hyundai. Some examples of covered claims are a windshield shattered by a rock, flood damage, and burglary. Deductibles for physical damage represent how much money you are willing to pay out-of-pocket if you file a covered claim. The more damage repair cost the insured has to pay upfront, the less your car insurance will be.
  • Poor credit can mean higher premiums - Credit rating is a big factor in determining premium rates. So if your credit can use some improvement, you could save money insuring your Hyundai Tucson if you improve your credit rating. Consumers who have high credit ratings tend to be more responsible than drivers who have worse credit.
  • Insurance losses for a Hyundai Tucson - Auto insurance companies use past insurance losses to determine a rate that will be profitable for them. Models that the data shows to have high amounts or severity of claims will cost more for coverage. The next table shows the insurance loss data for Hyundai Tucson vehicles.

    For each policy coverage, the loss probability for all vehicles as a whole is set at 100. Numbers shown that are under 100 are indicative of better than average losses, while numbers above 100 point to more frequent losses or tendency to have higher losses.

    Hyundai Tucson Insurance Claim Statistics
    Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Hyundai Tucson 4dr 2WD 80 96 66 108 110 101
    Hyundai Tucson 4dr 4WD 82 102 70 109 109 109
    BETTER
    AVERAGE
    WORSE

    Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Car insurance is an important decision

Despite the fact that car insurance is not cheap in Madison, paying for car insurance may not be optional for several reasons.

  • Almost all states have mandatory liability insurance requirements which means you are required to carry specific limits of liability insurance coverage in order to drive the car. In Wisconsin 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.
  • If you have a loan on your Hyundai, it's most likely the lender will have a requirement that you have insurance to guarantee their interest in the vehicle. If you do not keep the policy in force, the lender will be forced to insure your Hyundai at a more expensive rate and force you to pay for the expensive policy.
  • Insurance safeguards your car and your assets. It will also pay for medical transport and hospital expenses incurred in an accident. Liability insurance will also pay attorney fees in the event you are sued. If your vehicle suffers damage from an accident or hail, collision and comprehensive coverages will cover the repair costs.

The benefits of carrying adequate insurance more than cancel out the cost, particularly when you have a large claim. On average, a vehicle owner in Madison is overpaying more than $865 each year so compare rate quotes at every policy renewal to save money.