Best Cheap Insurance Quotes for a Hyundai Elantra in New Jersey

Whether or not you can find cheap car insurance for a Hyundai Elantra in New Jersey depends on a whole bunch of rating criteria such as miles driven annually, your profession, and if your driving record is clean. New Jersey drivers pay approximately $1,560 every 12 months to buy Hyundai Elantra insurance, but that figure is based on rate data for a 30-year-old single male driver that purchased both comprehensive and collision coverage and $250 physical damage deductibles.

More likely than not, you are not 30 and possibly not even male, you might be married instead of single, and maybe you have sub-par credit that needs to be factored in. Just a minor change in rating criteria or coverage limits can produce large changes in policy price.

Everyone has different rating factors, so the only real way to find the cheapest coverage for your Hyundai is to make a habit of comparing rates at every renewal.

Insure Your Hyundai for Less

Vehicle trim level tends to impact the cost of insurance, so the rate you will pay to insure a Elantra GLS Touring Station Wagon model will be $168 less than the cost to insure the more well-appointed Elantra SE Touring Station Wagon version, as shown in the table below.

Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, claim-free, safe-driver, multi-policy, and homeowner. Rate quotes do not factor in your specific New Jersey location which can decrease or increase rates greatly.

Finding reliable, low-priced auto insurance is easier said than done, and figuring out which insurers offer the cheapest car insurance rates for a Hyundai Elantra involves even more perseverance. Each auto insurer has a different process for setting rates, so let’s take a look at the most budget-friendly car insurance companies in New Jersey.

It’s important that you understand New Jersey car insurance rates are impacted by many things that control the cost of coverage. This price variation is why drivers need to perform an extensive rate comparison to get the best insurance quotes for a Hyundai Elantra. Rates are determined by many factors and can increase or decrease at any time, so the most economical option the last time you shopped around may now be one of the more expensive options.

Cheap Insurance Rates for Your Hyundai

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21st Century quotes some of the best car insurance rates in New Jersey at around $1,078 a year. Travelers, New Jersey Manufacturers, Penn National, and Palisades also make the cut as some of the more affordable New Jersey auto insurance companies.

As depicted above, if you have coverage with New Jersey Manufacturers and switched to 21st Century, you might see an annual savings of roughly $232. Customers with Penn National might save as much as $247 a year, and Palisades customers might realize rate reductions of up to $263 a year.

To find out how much you can save, click here to get quotes or click through to the companies below.

Bear in mind that those policy prices are averages for all insureds and vehicles and and are not calculated with a specific rate value for a Hyundai Elantra. So the auto insurance company that can offer you the best price may not even be included in the above rate chart. That underscores the importance of why you need to get quotes using your own individual information.

The diagram below illustrates how your choice of deductibles can increase or decrease annual premium costs when researching cheap insurance for a Hyundai Elantra. The information is based on a single female driver, comprehensive and collision coverage, and no discounts are taken into consideration.

As shown above, a 30-year-old driver could reduce rates by $590 a year by switching from a $100 deductible up to a $500 deductible, or save $886 by using a $1,000 deductible. Even younger drivers, like the Age 20 category, could drop their prices $1,322 annually just by choosing larger deductibles.

When raising deductibles, it will be required to have emergency funds available to be able to pay the extra out-of-pocket expense. That is the one drawback of using higher deductibles.

Full coverage rates compared to liability only

Finding the best cheap insurance for a Hyundai Elantra in New Jersey is probably important to most drivers, and an easy way to lower the cost of insurance is to not insure for full coverage. The diagram below shows the difference between auto insurance costs when comparing full coverage to liability only. The data is based on no accidents, no driving violations, $250 deductibles, marital status is single, and no additional discounts are factored in.

On average, physical damage insurance costs $3,130 per year more than just buying liability insurance. That may make you wonder if full coverage is worth the money. There is no specific rule to drop full coverage on your policy, but there is a general school of thought. If the annual cost of your full coverage insurance is more than about 10% of any settlement you would receive from your insurance company, the it may be a good time to stop paying for full coverage.

For example, let’s say your vehicle’s replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $7,000 after paying your policy deductible. If you are paying over $700 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.

There are some circumstances where dropping full coverage is not in your best interest. If you haven’t satisfied your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if you don’t have enough money to buy a different vehicle in case of an accident, you should maintain full coverage.

State Farm, Allstate, Progressive, or Geico: Who is best?

If you’re looking for the cheapest insurance for an Elantra, some of the first companies to look at are State Farm, Allstate, Progressive, and Geico. All offer liability and physical damage insurance, but each one has a unique set of features, discounts, and options that you can select from. The data below compares and contrasts price and claims rank as well as some different options that policyholders can buy.