Who Has the Cheapest Auto Insurance for a Hyundai Elantra in Nashville?

Finding competitive auto insurance for a Hyundai Elantra is pretty simple, but it relies on many factors such as how many years you have been driving, your geographic location, and citations or violations on your driving record. Tennessee drivers pay on average $559 per year to insure their Elantra, but that cost is an estimation using a 50-year-old married male driver with full comprehensive and collision coverage and $1,000 deductibles.

There’s a good chance you are not 50 and maybe not even a male, you might be single instead of married, or maybe you live in a different area as the quoted rates. Have just a small change in the factors used in pricing a policy could end up in a significant change in policy price.

This illustrates why the best way to find cheap car insurance rates for your Hyundai is to compare as many rates as you can. Price quotes are quick and you will receive prices from the best companies that offer coverage in Tennessee.

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The trim level of your Hyundai will likely have an effect on the cost of insurance, so the price to insure a Elantra GLS Touring Station Wagon trim level will be $50 less than the insurance cost for the higher-end Elantra SE Touring Station Wagon model, as shown in the prices below.

Hyundai Elantra Insurance Rates in Nashville, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Elantra GLS Touring Station Wagon $94 $166 $236 $14 $70 $580 $48
Elantra Blue 4-Dr Sedan $94 $236 $278 $16 $82 $706 $59
Elantra GLS 4-Dr Sedan $108 $236 $278 $16 $82 $720 $60
Elantra SE 4-Dr Sedan $108 $236 $278 $16 $82 $720 $60
Elantra SE Touring Station Wagon $108 $202 $236 $14 $70 $630 $53
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Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Tennessee minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Estimates do not factor in specific zip code location which can raise or lower rates greatly.

Finding out which companies offer the cheapest auto insurance rates for a Hyundai Elantra calls for a little more sweat in order to find the lowest price quote.

Every auto insurer uses their own method for determining rates in each state, so let’s take a look at the auto insurance companies with the overall best prices in Nashville, TN. It’s a good idea to know that Tennessee auto insurance rates are calculated based on many things that control the price you have to pay for coverage. Simply turning a year older, increasing deductibles, or getting into an accident can trigger rate changes that can make some companies more affordable than others.

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Utica National offers some of the most affordable car insurance rates in Nashville at around $744 a year. Auto-Owners, Cincinnati Insurance, Penn National, and USAA would also make the list of some of the most economical Nashville, TN insurance companies.

As shown above, if you currently have a policy with Penn National and switched to Auto-Owners, you may see a yearly savings of roughly $99. Tennessee drivers with USAA may save as much as $102 a year, and Erie insureds might reduce rates by $130 a year.

To compare your rates to other Tennessee insurance companies, click here to get a free quote or feel free to get quotes from the companies below.

Be aware that those policy rates are averages across all ages of drivers and types of vehicles and do not take into consideration a specific location for a Hyundai Elantra. So the car insurance company that fits your needs best may not even be in the top 30 companies shown above. That points out the importance of why you need to compare as many prices as possible using your own driver data and vehicle information.

Rate difference between full and liability-only coverage

Finding the cheapest auto insurance should be important to most vehicle owners, and one of the best ways to find cheaper insurance for a Hyundai Elantra is to only buy liability insurance. The illustration below visualizes the comparison of premium costs when comparing full coverage to liability only. The rate quotes are based on no claims or driving violations, $100 deductibles, drivers are single, and no discounts are applied.

Averaged for all ages 20 through 70, physical damage coverage costs $2,115 per year over and above liability only. Lot’s of drivers question when is the right time to remove full coverage. There is no definitive formula to drop comprehensive and collision coverage on your policy, but there is a broad guideline. If the annual cost of your full coverage insurance is more than around 10% of the settlement you would receive from your company, then it may be the right time to buy liability only.

For example, let’s say your vehicle’s replacement cost is $11,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, you would only receive $10,000 after the policy deductible has been paid. If premium cost is more than $1,000 a year for physical damage coverage, then it might be time to consider dropping full coverage.

There are some cases where dropping physical damage coverage is not recommended. If you still have a loan on your vehicle, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if you can’t afford to buy a different vehicle if your current one is in an accident, you should not buy liability only.

Why you are probably overpaying for Elantra insurance

Tennessee auto insurance rates are based on many factors that will increase or decrease the policy premium. Turning one year older, marrying your spouse, or getting a reckless driving citation can cause premium changes that can make some companies cheaper than others. Not only may things change on your end, but car insurance companies change rates multiple times each year to help ensure profitability. Heavy losses may cause additional premium costs, while long-term profits can cause cheaper Elantra insurance rates.

For instance, the chart below shows a variety of companies that have the cheapest car insurance in Nashville, TN for a 45-year-old male driver with no prior claims, no tickets, and a good credit history. When quoting prices based on his current risk profile, Utica National may have the best car insurance rates in Nashville at $858 a year. This is $470 less than the average price paid by Tennessee drivers of $1,328. Auto-Owners, Cincinnati Insurance, Tennessee Farmers, and Penn National are the rest of the best Nashville, TN auto insurance companies.

The example below compares rates after we give the driver from the first rate comparison an accident claim, a little lower credit rating, and a few blemishes on his driving record. Since each auto insurer has their own unique process to set premium rates, analyzing rates may now show a different set of companies as shown below.

Erie now has the best car insurance rate in Nashville with Allied, Nationwide, Westfield, and GEICO also having competitive pricing. This example illustrates why it is crucial to compare rates when trying to find the best car insurance quotes for a Hyundai Elantra. Insurance rates are made up of many risk factors and can decrease or increase without notice, so the lowest-price company the last time you shopped your coverage around may now be quite expensive.