When shopping for lower-cost insurance, do you get confused by the crazy number of car insurance choices in Colorado Springs? Colorado people have so many choices to choose from that it can really be a real challenge to find the lowest price for Hyundai Genesis insurance in Colorado Springs. Everyone knows Colorado Springs is a great city to raise a family in, but expensive car insurance rates makes it very hard to afford good insurance coverage.
A study showed that over 70% of consumers renewed their policy with the same company for well over three years, and about 40% of consumers have never compared rates from other carriers. Many drivers in Colorado Springs can save approximately $605 each year, but most just don't grasp the big savings they would realize if they switched to a cheaper policy.
You need to compare rates yearly since insurance prices are adjusted regularly by insurance companies. If you had the best quotes on Hyundai Genesis insurance in Colorado Springs six months ago you may be paying too much now. Ignore everything you know about car insurance because it's time to teach you how to use the internet to remove unneeded coverages and save money.
Many insurance companies such as Allstate and Progressive make it easy to get coverage price quotes on their websites. Comparing prices online for Hyundai Genesis insurance in Colorado Springs is possible for anyone as you just type in the amount of coverage you want as requested by the quote form. Upon sending the form, the system gets credit information and your driving record and returns a price quote determined by many factors.
This makes it a lot easier to compare rates and it's necessary to get many rate quotes in order to find the cheapest price.
To quickly compare pricing, compare rates now from the companies shown below. To compare your current rates, we recommend you replicate deductibles and limits exactly as shown on your declarations page. This makes sure you are getting a price comparison for the exact same coverage.
The companies shown below are ready to provide price quotes in Colorado Springs, CO. If more than one company is shown, we suggest you get rate quotes from several of them to get the most affordable price.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Genesis 2.0T 2-Dr Coupe||$306||$620||$440||$26||$132||$1,524||$127|
|Genesis 3.8 4-Dr Sedan||$206||$390||$362||$22||$108||$1,088||$91|
|Genesis 2.0T Premium 2-Dr Coupe||$182||$402||$496||$30||$148||$1,258||$105|
|Genesis 3.8 2-Dr Coupe||$182||$382||$496||$30||$148||$1,238||$103|
|Genesis 2.0T Track 2-Dr Coupe||$238||$490||$496||$30||$148||$1,402||$117|
|Genesis 3.8 Grand Touring 2-Dr Coupe||$328||$702||$570||$34||$170||$1,804||$150|
|Genesis 4.6 4-Dr Sedan||$296||$630||$286||$16||$86||$1,314||$110|
|Genesis 3.8 Track 2-Dr Coupe||$334||$808||$532||$32||$160||$1,866||$156|
|Get Your Own Custom Quote Go|
Data assumes single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, multi-policy, safe-driver, multi-vehicle, and homeowner. Prices do not factor in vehicle garaging location which can lower or raise coverage prices noticeably.
Hyundai Genesis liability rates compared to full coverage
The diagram below visualizes the comparison of Hyundai Genesis car insurance costs when comparing full coverage to liability only. The information is based on a clean driving record, no claims, $100 deductibles, single female driver, and no discounts are factored in.
Should you pay for full coverage or liability only?
There is no set rule of when to eliminate comp and collision coverage, but there is a broad guideline. If the annual cost of coverage is more than around 10% of the replacement cost minus the deductible, then you may need to consider dropping full coverage.
For example, let's assume your Hyundai Genesis replacement cost is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled in an accident, the most you would receive is $4,000 after paying your policy deductible. If you are currently paying more than $400 a year to have full coverage, then it's probably a good time to buy liability coverage only.
There are a few cases where removing full coverage is not advised. If you have an outstanding loan on your vehicle, you have to keep full coverage as part of the loan conditions. Also, if you can't afford to buy a different vehicle if your current one is damaged, you should not buy liability only.
Get cheaper Hyundai Genesis insurance rates in Colorado Springs
Some providers don't necessarily list every policy discount in an easy-to-find place, so the list below details a few of the more common and also the more inconspicuous savings tricks you should be using when you buy Colorado Springs auto insurance online.
- Distant Student Discount - Older children who live away from home at college without a vehicle on campus may be able to be covered for less.
- Memberships - Having an affiliation with a civic or occupational organization in Colorado Springs could trigger savings when shopping for auto insurance.
- Use Seat Belts - Drivers who require all vehicle occupants to use their safety belts could save 15% off the medical payments premium.
- Own a Home - Being a homeowner can save you money because of the fact that having a home requires personal responsibility.
- Low Mileage Discounts - Driving fewer miles could be rewarded with lower rates due to less chance of an accident.
- Accident Waiver - Not a discount per se, but a handful of insurance companies allow you one accident before they charge you more for coverage as long as you don't have any claims for a set time period.
- Air Bag Discount - Cars that have air bags and/or automatic seat belt systems could see savings of 20% or more.
- Senior Citizen Discount - Mature drivers could receive a discount up to 10%.
As a sidenote, some of the credits will not apply to all coverage premiums. A few only apply to individual premiums such as collision or personal injury protection. So when the math indicates you could get a free auto insurance policy, company stockholders wouldn't be very happy.
Larger auto insurance companies and some of the premium reductions they offer can be read below.
- State Farm may include discounts for multiple policy, driver's education, good student, Drive Safe & Save, and anti-theft.
- GEICO has discounts for anti-theft, military active duty, driver training, daytime running lights, emergency military deployment, and air bags.
- SAFECO discounts include bundle discounts, teen safety rewards, safe driver, accident prevention training, anti-theft, and homeowner.
- Farmers Insurance offers premium reductions for distant student, alternative fuel, switch companies, good student, homeowner, pay in full, and electronic funds transfer.
- AAA policyholders can earn discounts including good student, multi-policy, anti-theft, AAA membership discount, education and occupation, multi-car, and pay-in-full.
- USAA includes discounts for driver training, multi-policy, annual mileage, new vehicle, loyalty savings, military installation, and good student.
When quoting, ask every prospective company which discounts they offer. Some discounts might not apply in Colorado Springs. To find auto insurance companies offering auto insurance discounts in Colorado, follow this link.
Exclusive or independent auto insurance agents
Many drivers just want to talk to a local agent and we recommend doing that One of the best bonuses of comparing rate quotes online is you can get lower premium rates and also buy local. And providing support for local insurance agencies is especially important in Colorado Springs.
To find an agent, once you fill out this form (opens in new window), your coverage information is emailed to local insurance agents in Colorado Springs who will return price quotes for your coverage. You don't have to leave your house since price quotes are sent immediately to your email address. You'll get the best rates AND an agent nearby. If you wish to get a comparison quote for a specific company, you just need to search and find their rate quote page and fill out their quote form.
Choosing the best company requires you to look at more than just a cheap price quote. Here are some questions to ask:
- Do they review policy coverages at every renewal?
- Can they give you a list of client referrals?
- What insurance company do they write the most business with?
- If you have an accident, will your rates go up?
- Is there a Errors and Omissions policy in force?
- Who are their largest clients?
- Is there any savings for paying the full premium?
- If your car is in the repair shop, do you have coverage for a rental car?
Auto insurance is not optional
Despite the high cost of buying insurance for a Hyundai Genesis in Colorado Springs, insuring your vehicle may be required and benefits you in several ways.
- Just about all states have minimum liability requirements which means state laws require a minimum amount of liability if you want to drive legally. In Colorado these limits are 25/50/15 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $15,000 of property damage coverage.
- If you bought your Hyundai with a loan, more than likely the lender will force you to carry insurance to ensure loan repayment if the vehicle is totalled. If you do not pay your insurance premiums, the lender may have to buy a policy to insure your Hyundai for a lot more money and require you to reimburse them the higher premium.
- Auto insurance preserves both your Hyundai and your personal assets. It also can pay for most medical and hospital costs incurred in an accident. One policy coverage, liability insurance, will also pay to defend you if someone files suit against you as the result of an accident. If you have damage to your Hyundai as the result of the weather or an accident, comprehensive (other-than-collision) and collision coverage will pay to have it repaired.
The benefits of having auto insurance definitely exceed the price paid, specifically if you ever have a liability claim. On average, a vehicle owner in Colorado Springs overpays as much as $850 per year so smart consumers compare quotes every year to ensure rates are competitive.
Educate yourself about insurance coverages
Knowing the specifics of insurance helps when choosing appropriate coverage at the best deductibles and correct limits. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording.
Collision - This coverage covers damage to your Genesis caused by collision with another car or object. A deductible applies then the remaining damage will be paid by your insurance company.
Collision can pay for things like rolling your car, scraping a guard rail, crashing into a ditch and colliding with another moving vehicle. This coverage can be expensive, so you might think about dropping it from vehicles that are 8 years or older. Another option is to increase the deductible on your Genesis to bring the cost down.
Medical expense insurance - Personal Injury Protection (PIP) and medical payments coverage pay for immediate expenses for doctor visits, pain medications and prosthetic devices. They are often used to fill the gap from your health insurance policy or if there is no health insurance coverage. They cover you and your occupants in addition to any family member struck as a pedestrian. Personal injury protection coverage is not an option in every state but can be used in place of medical payments coverage
Liability insurance - This coverage can cover injuries or damage you cause to a person or their property that is your fault. This insurance protects YOU against other people's claims, and doesn't cover damage sustained by your vehicle in an accident.
Coverage consists of three different limits, bodily injury per person, bodily injury per accident and property damage. You commonly see policy limits of 25/50/15 that translate to a $25,000 limit per person for injuries, a limit of $50,000 in injury protection per accident, and a total limit of $15,000 for damage to vehicles and property. Alternatively, you may have a combined limit that pays claims from the same limit without having the split limit caps.
Liability coverage protects against things such as bail bonds, structural damage, medical expenses and emergency aid. The amount of liability coverage you purchase is a personal decision, but it's cheap coverage so purchase as much as you can afford. Colorado state law requires minimum liability limits of 25/50/15 but it's recommended drivers buy higher limits.
Protection from uninsured/underinsured drivers - This coverage protects you and your vehicle when the "other guys" do not carry enough liability coverage. This coverage pays for hospital bills for your injuries as well as your vehicle's damage.
Since a lot of drivers have only the minimum liability required by law (25/50/15), it only takes a small accident to exceed their coverage. For this reason, having high UM/UIM coverages should not be overlooked. Usually the UM/UIM limits are similar to your liability insurance amounts.
Comprehensive (Other than Collision) - Comprehensive insurance coverage will pay to fix damage from a wide range of events other than collision. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.
Comprehensive insurance covers things like hitting a deer, a broken windshield, damage from getting keyed and fire damage. The maximum payout you can receive from a comprehensive claim is the ACV or actual cash value, so if the vehicle's value is low consider removing comprehensive coverage.
More comparisons equals cheaper rates
We just covered a lot of techniques to reduce Hyundai Genesis insurance car insurance rates online in Colorado Springs. The key thing to remember is the more rate quotes you have, the better chance you'll have of finding affordable Colorado Springs auto insurance quotes. You may even discover the lowest car insurance rates are with some of the lesser-known companies.
When searching for low cost Colorado Springs auto insurance quotes, it's not a good idea to buy poor coverage just to save money. In many instances, an accident victim reduced full coverage and discovered at claim time they didn't purchase enough coverage. Your goal should be to buy enough coverage for the lowest price while not skimping on critical coverages.
People leave their current company for a number of reasons such as not issuing a premium refund, unfair underwriting practices, delays in paying claims and questionable increases in premium. No matter why you want to switch, switching companies can be easy and end up saving you some money.
Even more information is located in these articles:
- Car Insurance FAQ (Trusted Choice)
- What Auto Insurance is Cheapest in Pueblo, Colorado? (FAQ)
- Who Has Cheap Colorado Auto Insurance for Infrequent Drivers? (FAQ)
- Who Has the Cheapest Colorado Car Insurance for Teenage Females? (FAQ)
- How Can I Save Money on Auto Insurance? (Insurance Information Institute)
- Drunk Driving Statistics (Insurance Information Institute)