Buying cheap car insurance for a Hyundai Elantra hinges on many different factors such as how old the Elantra is, your credit status, and driving violations and tickets. Drivers will pay around $1,113 annually for Elantra insurance, but that is an estimation based on a 40-year-old single female driver with full coverage and $500 deductibles.
Odds are that you may not be 40 years old (or even female), you might be married instead of single, or you just want cheap liability insurance instead of full coverage. Different coverage needs are the reason why the only way to find cheap insurance rates for your Hyundai is to compare as many rates as possible.
Your vehicle’s trim level will influence the annual cost of coverage, so the cost to insure a Elantra GLS Touring Station Wagon will be $110 less than the cost to insure the higher-priced Elantra SE Touring Station Wagon model, as shown below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Elantra GLS Touring Station Wagon | $200 | $372 | $422 | $24 | $126 | $1,144 | $95 |
| Elantra Blue 4-Dr Sedan | $200 | $532 | $496 | $30 | $148 | $1,406 | $117 |
| Elantra GLS 4-Dr Sedan | $230 | $532 | $496 | $30 | $148 | $1,436 | $120 |
| Elantra SE 4-Dr Sedan | $230 | $532 | $496 | $30 | $148 | $1,436 | $120 |
| Elantra SE Touring Station Wagon | $230 | $452 | $422 | $24 | $126 | $1,254 | $105 |
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Table data represents single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Texas minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, multi-policy, and claim-free. Information does not factor in specific zip code location which can increase or decrease insurance rates noticeably.
Picking the right auto insurance company is hard considering how many companies sell insurance in Laredo. The information listed below may help you select which providers you want to consider comparing rate quotes with.
These rankings are only made up of large insurance companies, so companies without a large exposure will not be included in this list. If you’d like to compare prices from these top-rated insurers and more, follow this link.
Top 10 Major Auto Insurance Providers in Laredo Ranked by Customer Service
- USAA
- Travelers
- Mercury Insurance
- AAA Insurance
- Nationwide
- Safeco Insurance
- Progressive
- State Farm
- The Hartford
- The General
Full coverage rates compared to liability-only
Buying cheaper insurance should be important to most people, and one way to pay less for insurance for a Hyundai Elantra is to buy liability only. The diagram below illustrates the difference between auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in Texas. The rate quotes are based on no accidents or driving violations, $100 deductibles, drivers are single, and no other discounts are factored in.
Averaged out for all age groups, physical damage insurance costs $2,785 per year more than just insuring for liability. That touches on the question if buying full coverage is worth the expense. There isn’t a written rule that works best for making the decision to drop full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.
There are some conditions where buying only liability insurance is not recommended. If you still owe money on your vehicle, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is in an accident, you should not drop full coverage.
Why are you paying too much for Elantra insurance?
Laredo, TX insurance rates are influenced by many factors which can substantially decrease or increase the policy price. Getting older, having a claim, or getting a couple of tickets can trigger changes in premium that can cause some rates to be more affordable than before.
In addition, auto insurance companies change rates as often as every quarter in order to be able to pay unexpected claims. A period of increased losses may result in more expensive prices, while a better claims history may cause cheaper Elantra insurance rates.
To help illustrate this point, the chart below shows rates for the cheapest car insurance in Laredo, TX for a 35-year-old female driver with no prior accidents, a clean driving record, and solid credit. If we look at prices based on her current risk profile, Travelers may have the most affordable car insurance rates in Laredo at $1,266 annually. This is $638 less than the average price paid by Texas drivers of $1,904. USAA, Texas Farm Bureau, Germania Mutual, and Esurance are also included in the best Laredo, TX auto insurance companies.
The example below compares rates after we give the driver from the first rate comparison some claims, slightly worse credit, and a couple of points charged on her driving record. Since each auto insurer has a unique formula to set their prices, comparing rates may result in a substantially altered list of affordable companies as shown below.
Mercury now has the best insurance rate in Laredo with State Farm, USAA, Safe Auto, and Nationwide now rounding out the top five. This example demonstrates why it is critical to do a thorough rate comparison to get affordable insurance quotes for a Hyundai Elantra. Auto insurance prices are made up of many things and can change substantially, so the cheapest rate six months ago may now not even be in the top five.
If you like to get some guidance when comparing insurance rates for an Elantra, the insurance agencies below are a good start to help you make a decision which coverages you need. To find an agent by location nearest to you, click the button link following the list.
Kike Trevino – State Farm Insurance
517 Shiloh Dr #4 – Laredo, TX 78045 – (956) 791-5453
J and E Insurance
1701 S Malinche Ave – Laredo, TX 78046 – (956) 791-1633
Medina Wright Insurance
1419 Clark Blvd – Laredo, TX 78040 – (956) 722-4618
More Laredo, TX insurance agents
How to find economical car insurance for a Hyundai Elantra
It’s not impossible to find cheaper rates, and here are some of the better thrifty solutions that can help you find lower-cost auto insurance.
- Avoid filing small claims
- Remove physical damage coverage on older vehicles
- Buy a car with high safety ratings
- Better credit scores save money
- Raise your deductibles
- Home or renters coverage can save on auto insurance
- Shop your coverage around for the best deal
The last idea is extraordinarily crucial, as we hit on in this article. Prices charged by auto insurers fluctuate considerably, so don’t be hesitant to change insurance companies if a lower price can be found.
Staying with the same car insurance company is fine, but it’s not recommended if your bullheadedness ends up costing you money that could be used for better things. If you have a few minutes, compare rates and find cheaper auto insurance for a Hyundai Elantra in Laredo.