Finding the cheapest car insurance for a Hyundai Elantra is normally pretty easy, but it depends on lots of different factors such as driver age, your residence address, and citations on your driving record. Drivers in Colorado pay on average $912 per year to insure their Elantra, but that cost is an estimate calculated based on a 50-year-old single male driver with full coverage and $500 deductibles.
This brings up the issue that more than likely you are not 50 years old and maybe not even male, maybe you are married instead of single, or maybe you just want liability only instead of full coverage. Having the smallest difference in rating criteria could end up with a large change in the cost of a policy.
Different coverage needs are the reason why the best method for finding the cheapest coverage for your Hyundai is to just compare rates yourself. Comparing quotes is easy and you will receive rate quotes from some of the best companies in Colorado.
The trim level of your vehicle has an effect on the insurance rate, so the rate you will pay to insure a Elantra GLS Touring Station Wagon trim level will cost $92 less than the price to insure the higher-priced Elantra SE Touring Station Wagon version, as shown in the chart below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Elantra GLS Touring Station Wagon||$166||$312||$338||$20||$102||$938||$78|
|Elantra Blue 4-Dr Sedan||$166||$448||$396||$24||$118||$1,152||$96|
|Elantra GLS 4-Dr Sedan||$190||$448||$396||$24||$118||$1,176||$98|
|Elantra SE 4-Dr Sedan||$190||$448||$396||$24||$118||$1,176||$98|
|Elantra SE Touring Station Wagon||$190||$380||$338||$20||$102||$1,030||$86|
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Premium data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Premium amounts do not factor in specific location which can modify premiums considerably.
Trying to find budget insurance is not easy, and deciding which companies offer the lowest-priced insurance rates for a Hyundai Elantra in Colorado will take even more work.
Each insurance company uses their own method to establish rates, so we'll go over the insurance companies with the most affordable rates in Colorado.
Cheapest Insurance Rates for Your Hyundai
|Rank||Company||Cost Per Year|
|14||Colorado Farm Bureau||$1,576|
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The Hartford may offer some of the best car insurance rates in Colorado at around $859 per year. Grange, USAA, Nationwide, and GEICO also are some of the cheaper Colorado auto insurance companies.
In the above example, if you currently buy coverage from Nationwide and switched to The Hartford, you may see an annual premium reduction of upwards of $262. Colorado drivers with GEICO may save as much as $328 a year, and Auto-Owners insureds might cut rates by $333 a year.
To find the cheapest coverage for you, click here to get a free quote or visit any of the low-priced companies below.
It's important to note that these premium estimates are averaged for all drivers and vehicles and do not factor in a specific rating modification for a Hyundai Elantra. So the company that has the cheapest price for you may not even be in the list above. That point stresses why you need to compare as many prices as possible using your own driver information and specific vehicle type.
The chart below highlights how deductible selection can increase or decrease insurance costs when trying to find cheap insurance for a Hyundai Elantra in Colorado. The rate quotes are based on a married male driver, comprehensive and collision coverage, and no other discounts are factored in.
As shown above, a 50-year-old driver could lower their car insurance rates by $320 a year by increasing from a $100 deductible to a $500 deductible, or save $480 by choosing a $1,000 deductible. Even younger drivers, like the age 20 example, could possibly save up to $1,080 each year by using a higher deductible.
When insureds make the decision to increase the deductibles on their policy, it will be required to have enough spare savings to enable you to pay the extra out-of-pocket expense that comes with higher deductibles.
Get discounts on Colorado car insurance rates
Insurers that provide coverage for a Hyundai Elantra could also offer rate discounts that could reduce prices by 30% or more if you meet the requirements. A few popular companies and a selection of discounts are:
- State Farm offers discounts including Drive Safe & Save, student away at school, defensive driving training, driver's education, and anti-theft.
- Progressive includes discounts for continuous coverage, online signing, good student, multi-policy, multi-vehicle, and homeowner.
- Travelers may offer discounts for multi-policy, driver training, IntelliDrive, good student, hybrid/electric vehicle, payment discounts, and home ownership.
- American Family policyholders can earn discounts including accident-free, good driver, TimeAway discount, mySafetyValet, good student, and bundled insurance.
- Liberty Mutual discounts include safety features, good student, new move discount, multi-car, preferred payment discount, and hybrid vehicle.
The chart below visualizes the comparison of insurance costs with and without discounts applied to the policy premium. The premiums assume a male driver, no claims or violations, Colorado state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The second shows the rates with multiple policy, homeowner, claim-free, vehicle safety, defensive driving course, and anti-theft discounts applied. In this example, the the amount saved on insurance for a Hyundai Elantra is 28% or $555.
How to find more affordable car insurance for a Hyundai Elantra
It is possible to find better rates, and here are some of the better thrifty ideas that can help you buy cheaper coverage.
- Better credit rating means better rates
- Having at-fault accidents will increase rates
- Safer vehicles cost less to insure
- Save money by bundling your home and auto policies
- Drop full coverage on older vehicles
- Check for cheaper rates once a year
The last item on the list is notably valuable, as was affirmed in the prior article. Car insurance rates fluctuate constantly, so don't be unwilling to buy a different policy if you find a better deal. Having brand loyalty is commendable, but we do not recommend it if it's costing you major coinage every year. It only takes a couple minutes to shop around and find cheaper auto insurance for a Hyundai Elantra.