Did a good deal turn out to be an overpriced auto insurance policy? You're preaching to the choir because you are not the only one feeling buyer's remorse.
Sadly, a large majority of drivers have stayed with the same insurance company for four years or more, and almost 40% of drivers have never compared rates with other companies. U.S. drivers can save almost 47% each year by just shopping around, but most tend to underestimate the amount of money they would save if they switch to a new company.
Since people have many companies to choose from that have affordable insurance for a Hyundai Genesis in Birmingham, it can be diffult for drivers to pick the most affordable auto insurance provider.
Locating the best rates in Birmingham is actually very simple if you learn how to start. Virtually every person who compares rates for car insurance will probably find better rates. But Alabama drivers can benefit from knowing how big insurance companies market insurance on the web because rates fluctuate considerably.
When comparing auto insurance rates, know that comparing more quotes increases your odds of finding a better price. Not every company does online Birmingham Genesis insurance quotes, so it's important to compare prices from them as well.
The providers in the list below provide free quotes in Alabama. If the list has multiple companies, it's a good idea that you compare several of them to get the best price comparison.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Genesis 2.0T 2-Dr Coupe||$186||$408||$404||$24||$122||$1,144||$95|
|Genesis 3.8 4-Dr Sedan||$206||$346||$270||$16||$80||$918||$77|
|Genesis 2.0T Premium 2-Dr Coupe||$364||$710||$422||$24||$126||$1,646||$137|
|Genesis 3.8 2-Dr Coupe||$364||$710||$422||$24||$126||$1,646||$137|
|Genesis 2.0T Track 2-Dr Coupe||$332||$654||$434||$26||$130||$1,576||$131|
|Genesis 3.8 Grand Touring 2-Dr Coupe||$322||$686||$510||$30||$152||$1,700||$142|
|Genesis 4.6 4-Dr Sedan||$208||$408||$276||$16||$82||$990||$83|
|Genesis 3.8 Track 2-Dr Coupe||$256||$614||$548||$32||$164||$1,614||$135|
|Get Your Own Custom Quote Go|
Premium data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Alabama minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Estimates do not factor in specific location which can change insurance rates significantly.
Hyundai Genesis insurance rates by gender in Birmingham
The chart below compares Hyundai Genesis annual premium costs for male and female drivers. The premiums assume no claims or driving citations, full physical damage coverage, $1,000 deductibles, single marital status, and no policy discounts are applied.
Price comparison of only insuring for liability
The chart below shows the difference between Hyundai Genesis insurance costs with full physical damage coverage compared to only buying the minimum liability limits required in Alabama. The rate quotes are based on no claims or driving violations, $250 deductibles, married male driver, and no additional discounts are factored in.
When to stop buying physical damage coverage
There is no definitive rule that is best for determining when to drop comp and collision coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is 10% or more of any settlement you would receive from your insurance company, then it may be the right time to buy liability only.
For example, let's assume your Hyundai Genesis replacement cost is $3,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $2,000 after paying your deductible. If you are paying more than $200 a year for full coverage, then you might consider buying liability only.
There are some situations where removing full coverage is not financially feasible. If you still owe a portion of the original loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should not consider dropping full coverage.
Do you qualify for discounts on Hyundai Genesis insurance in Birmingham?
Companies do not advertise all available discounts very clearly, so the next list breaks down some of the best known and also the more inconspicuous discounts you could be receiving when you buy Birmingham auto insurance online. If you don't get every credit you qualify for, you are paying more than you should be.
- Save over 55 - Seniors can get reduced rates.
- Telematics Data Discounts - People who choose to allow their company to track driving manner by using a telematic data system such as Progressive's Snapshot could save a few bucks as long as the data is positive.
- No Claims - Birmingham drivers who stay claim-free get the best car insurance rates when compared to insureds who have frequent claims or accidents.
- Discount for Swiching Early - A few insurance companies allow discounts for switching to them before your current Genesis insurance policy expires. You could save around 10% when you buy Birmingham auto insurance online.
- Distant College Student Discount - Any of your kids who attend college more than 100 miles from Birmingham and do not have a car could get you a discount.
- Seat Belts Save - Requiring all passengers to use their safety belts can save a little on the medical payments or PIP coverage costs.
You should keep in mind that many deductions do not apply to all coverage premiums. Most cut specific coverage prices like liability, collision or medical payments. So even though they make it sound like it's possible to get free car insurance, it doesn't quite work that way.
A partial list of companies that have some of the discounts shown above include:
Before purchasing a policy, check with each insurance company how many discounts you can get. A few discounts may not apply to policyholders in every state. To view companies who offer cheap Hyundai Genesis insurance quotes in Birmingham, click here to view.
Getting quotes from local Birmingham insurance agents
Some consumers would prefer to get advice from a local agent and that is OK! The best thing about getting free rate quotes online is the fact that you can find cheap car insurance quotes and also buy local.
To find an agent, once you fill out this short form, the quote information gets sent to local insurance agents who can give free rate quotes and help you find cheaper coverage. It makes it easy because there is no need to contact any agents since price quotes are sent directly to you. You can get cheaper car insurance rates without requiring a lot of work. In the event you want to get a rate quote from a specific insurance company, don't hesitate to find their quoting web page and fill out their quote form.
Choosing the best insurer should depend on more than just a cheap price. These are some questions your agent should answer.
- How experiences are they in personal risk management?
- Do they receive special compensation for putting your coverage with one company over another?
- Do they specialize in personal lines coverage in Birmingham?
- How much can you save by raising your physical damage deductibles?
- What are the financial ratings for the companies they represent?
- How often do they review coverages?
When searching for a local agent, it's helpful to know the different types of agencies and how they function. Agents in Birmingham can be described as either exclusive or independent.
Exclusive Insurance Agencies
Agents that choose to be exclusive are contracted to one company and some examples include Farmers Insurance and State Farm. They are unable to provide prices from multiple companies so they have to upsell other benefits. Exclusive agents are usually well trained on the products they sell which helps offset the inability to provide other markets.
Below is a list of exclusive insurance agencies in Birmingham that can give you price quotes.
Independent Agents (or Brokers)
Agents that choose to be independent can quote rates with many companies so they can write business through lots of different companies and potentially find a lower price. If you are not satisfied with one company, an independent agent can move your coverage and you don't have to switch agencies.
If you are comparing car insurance prices, it's recommended you include price quotes from at least one independent agent to have the best price comparison.
Shown below are independent insurance agents in Birmingham that are able to give comparison quotes.
Stewart Financial Partners/ Alabama Insurance Agency
2700 Rogers Dr #106 - Homewood, AL 35209 - (205) 410-3988 - View Map
Smart Consumers Can Cut Their Insurance Prices
A large part of saving on auto insurance is knowing some of the things that help calculate the level of your policy premiums. When consumers understand what impacts premium levels, this enables you to make decisions that can help you get cheaper rates.
Stress out and pay more - Occupations like lawyers, airline pilots, and stock brokers tend to pay higher premium rates due to job stress and long work days. On the other hand, occupations like scientists, athletes and the unemployed receive lower rates.
Only buy what you need - Insurance policies have a lot of extra coverages that can add up if you don't pay attention. Add-on coverages like roadside assistance, high-cost glass coverage, and extra life insurance coverage are examples of these. These coverages may sound good when deciding what coverages you need, but if you don't need them remove them and pocket the money.
With age comes lower premiums - Teenage drivers in Alabama are statistically shown to be easily distracted with other occupants in the car therefore auto insurance rates are much higher. Parents adding a inexperienced driver onto a policy can really hurt. Older drivers are more cautious drivers, file fewer claims, and tend to be get fewer driving tickets.
Avoid auto insurance policy lapses - Having a lapse in insurance coverage can be a sure-fire way to bump up your auto insurance costs. And not only will your rates increase, being ticketed for driving with no insurance can result in a steep fine or even jail time.
Hyundai Genesis claim data - Car insurance companies take into consideration insurance loss statistics for every vehicle when they calculate premium costs for each model. Vehicles that tend to have increased claim numbers or amounts will cost more for specific coverages. The table below outlines the historical loss data for Hyundai Genesis vehicles.
For each policy coverage, the statistical loss for all vehicles, as a total average, equals 100. Values that are 100 or less are indicative of better than average losses, while numbers shown that are more than 100 point to more losses or larger claims.
Hyundai Genesis Insurance Loss Statistics
|Vehicle Model||Collision||Property Damage||Comp||Personal Injury||Medical Payment||Bodily Injury|
|Hyundai Genesis 4dr||154||71||154||85||99|
Empty fields indicate not enough data collected
Statistics from IIHS.org for 2013-2015 Model Years
Car insurance is not optional in Alabama
Despite the potentially high cost of Hyundai Genesis insurance, buying car insurance is not optional due to several reasons.
- Just about all states have mandatory liability insurance requirements which means state laws require specific minimum amounts of liability protection if you drive a vehicle. In Alabama these limits are 25/50/25 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you have a lien on your vehicle, it's guaranteed your bank will have a requirement that you have physical damage coverage to ensure loan repayment if the vehicle is totalled. If you default on your policy, the bank may buy a policy for your Hyundai at an extremely high rate and require you to fork over for it.
- Insurance protects your vehicle and your assets. It also can pay for most medical and hospital costs for you, any passengers, and anyone injured in an accident. Liability coverage, the one required by state law, will also pay attorney fees if anyone sues you for causing an accident. If your car is damaged in a storm or accident, your car insurance policy will pay to repair the damage.
The benefits of carrying enough insurance definitely exceed the cost, particularly when you have a large claim. Despite what companies tell you, the average driver overpays as much as $855 a year so compare rates every year to be sure current rates are still competitive.
When shopping online for auto insurance, you should never sacrifice coverage to reduce premiums. In too many instances, consumers will sacrifice uninsured motorist or liability limits only to discover later that it was a big error on their part. Your goal should be to get the best coverage possible at an affordable rate while still protecting your assets.
Low-cost Hyundai Genesis insurance in Birmingham is available both online in addition to many Birmingham insurance agents, so you need to shop Birmingham auto insurance with both in order to have the best chance of saving money. Some auto insurance companies do not provide rates over the internet and these regional carriers work with independent insurance agencies.
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