Best Insurance for a Hyundai Santa Fe in Nashville

Remarkably, a study showed that about 70% of customers renewed their policy with the same company for more than four years, and almost half have never quoted rates to find cheaper coverage. Tennessee insurance shoppers could save nearly $480 each year, but they just don’t understand the amount of savings they would get if they bought a different policy.

Insurance for Hyundai Santa FeThe best way to get budget Hyundai Santa Fe insurance is to start doing a yearly price comparison from different companies in Nashville.

  1. It will benefit you to learn about how insurance companies determine prices and the factors you can control to keep rates low. Many rating criteria that cause rate increases like accidents, careless driving, and a less-than-favorable credit rating can be eliminated by making small lifestyle or driving habit changes. Read the full article for more information to help prevent costly coverage and get bigger discounts that may have been overlooked.
  2. Request price quotes from direct, independent, and exclusive agents. Exclusive and direct companies can provide rates from a single company like GEICO or Farmers Insurance, while agents who are independent can provide price quotes for a wide range of companies. Start a quote
  3. Compare the new rates to the premium of your current policy to determine if switching companies saves money. If you find better rates and buy the policy, ensure there is no coverage lapse between policies.

One tip to remember is to try to use the same amount of coverage on every quote and and to get rate quotes from every company you can. This enables a level playing field and a good representation of prices.

Locating the best rates in Nashville is really quite easy. If you have a policy now or are just looking to switch companies, follow these tips to reduce premiums without having to cut coverage. Drivers just need to understand the quickest method to compare price quotes from many companies at once.

Rates and statistics

The rate information shown below showcases estimates of insurance costs for Hyundai Santa Fe models. Knowing how insurance rates are figured can assist in making decisions on which insurance to purchase.

Hyundai Santa Fe Insurance Rates in Nashville, TN
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Santa Fe GLS 2WD $180 $304 $378 $22 $114 $998 $83
Santa Fe GLS 4WD $206 $304 $378 $22 $114 $1,024 $85
Santa Fe SE 2WD $206 $304 $378 $22 $114 $1,024 $85
Santa Fe Limited 2WD $206 $358 $378 $22 $114 $1,078 $90
Santa Fe SE 4WD $206 $358 $378 $22 $114 $1,078 $90
Santa Fe Limited 4WD $234 $358 $378 $22 $114 $1,106 $92
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Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Tennessee minimum liability limits. Discounts applied include safe-driver, claim-free, homeowner, multi-policy, and multi-vehicle. Premium costs do not factor in vehicle garaging location which can influence prices noticeably.

An analysis of deductible level

One of the most common auto insurance questions is where should you set your physical damage deductibles. The following tables may help to conceptualize the price difference between low and high comp and collision deductibles. The first rate estimation uses a $250 deductible for physical damage and the second pricing table uses a $500 deductible.

Hyundai Santa Fe insurance with $250 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Santa Fe GLS 2WD $194 $376 $288 $18 $86 $987 $82
Santa Fe GLS 4WD $224 $376 $288 $18 $86 $1,017 $85
Santa Fe SE 2WD $224 $376 $288 $18 $86 $1,017 $85
Santa Fe Limited 2WD $224 $444 $288 $18 $86 $1,085 $90
Santa Fe SE 4WD $224 $444 $288 $18 $86 $1,085 $90
Santa Fe Limited 4WD $252 $444 $288 $18 $86 $1,113 $93
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Hyundai Santa Fe insurance with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Santa Fe GLS 2WD $158 $304 $288 $18 $86 $854 $71
Santa Fe GLS 4WD $182 $304 $288 $18 $86 $878 $73
Santa Fe SE 2WD $182 $304 $288 $18 $86 $878 $73
Santa Fe Limited 2WD $182 $358 $288 $18 $86 $932 $78
Santa Fe SE 4WD $182 $358 $288 $18 $86 $932 $78
Santa Fe Limited 4WD $204 $358 $288 $18 $86 $954 $80
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Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Tennessee minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Table data does not factor in zip code location which can revise premium rates significantly.

Based on these figures, using a $250 deductible costs approximately $12 more each month or $144 a year than opting for the higher $500 deductible. Because you would pay $250 more if you file a claim with a $500 deductible as compared to a $250 deductible, if you tend to average at a minimum 21 months between claims, you would more than likely save some money if you decide on a higher deductible.

The example below shows how different deductible levels and can increase or decrease Hyundai Santa Fe insurance costs for different age categories. The prices are based on a married female driver, full physical damage coverage, and no other discounts are factored in.

Cost comparison with and without full coverage

The information below illustrates the difference between Hyundai Santa Fe insurance premiums with full coverage compared to only the Tennessee minimum liability coverage. The rate quotes are based on no violations or accidents, $100 deductibles, single marital status, and no discounts are taken into consideration.

When to eliminate full coverage

There is no specific rule to exclude comp and collision coverage, but there is a broad guideline. If the yearly cost for physical damage coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s say your Hyundai Santa Fe replacement value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $8,000 after you pay the deductible. If you are paying in excess of $800 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are some situations where eliminating full coverage is not financially feasible. If you haven’t satisfied your loan, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

Learn How to Find Insurance Cheaper

One of the most helpful ways to save on insurance is to to have a grasp of the different types of things that go into determining the price you pay for insurance. If you understand what determines base rates, this empowers consumers to make smart changes that may result in much lower annual insurance costs. Many different elements are part of the equation when quoting car insurance. Some factors are common sense like your driving record, but other factors are not as apparent such as your credit history or your commute time.

The type of car, truck or SUV makes a difference – The performance level of the vehicle you drive makes a huge difference in your car insurance bill. Small economy passenger cars receive the most favorable rates, but the final cost of insurance is determined by many other factors.

The next chart uses these variables: married female driver age 30, full coverage with $1000 deductibles, and no discounts or violations. The chart compares Hyundai Santa Fe insurance premiums compared to other makes and models that have a range of performance rating factors.

Liability coverage safeguards assets – Your policy’s liability coverage will afford coverage when you are found liable for physical damage or personal injury to other. Liability insurance provides you with a defense in court which can cost thousands of dollars. Liability is cheap when compared to the cost of physical damage coverage, so drivers should buy more than the minimum limits required by law.

Your job can affect prices – Did you know your insurance rates can be affected by your occupation? Occupations like judges, airline pilots, and stock brokers tend to have the highest average rates due to stressful work requirements and lengthy work days. Conversely, jobs such as scientists, historians and retirees generally pay rates lower than average.

Gender impacts costs – Over time, data shows that females tend to be a little less risky than males. That doesn’t necessarily mean that females are better drivers. They both are responsible for accidents in similar numbers, but the men have costlier accidents. Men also tend to get cited for more serious violations such as reckless driving. Young males are most likely to cause an accident so they pay the highest premiums.

The information below shows the difference between Hyundai Santa Fe insurance premiums for male and female drivers. The premium estimates are based on no claims, a clean driving record, full coverage, $1,000 deductibles, drivers are single, and no other discounts are factored in.

Credit score impacts premium prices – Having a bad credit rating can be a huge factor in determining premium rates. If your credit leaves room for improvement, you could save money insuring your Hyundai Santa Fe by repairing your credit. Insureds with excellent credit tend to be less risk to insure than drivers with bad credit.

Low comp and collision deductibles can be expensive – Deductibles for physical damage define how much the insured will be required to pay if the claim is covered. Insurance for physical damage to your car, also known as collision and other-than-collision, covers damage that occurs to your car. Examples of some claims that would be covered would be collision with another vehicle, hail damage, and damage caused by road hazards. The larger the amount you are required to pay out-of-pocket, the lower your rates will be.

Companies want multiple policies – Most insurers provide a discount to insureds who carry more than one policy in the form of a multi-policy discount. Even if you’re getting this discount you still need to compare other Nashville Santa Fe insurance rates to verify if the discount is saving money. You may still find better rates by splitting coverages up.

Hyundai Santa Fe insurance claim data – Insurers analyze claim trends for every vehicle when setting premium prices. Models that historically have higher prevalence or dollar amount of losses will cost more to insure. The table below shows the loss history for Hyundai Santa Fe vehicles.

For each coverage category, the claim probability for all vehicles, regardless of make or model, is set at 100. Values that are under 100 suggest a positive loss record, while values over 100 indicate more frequent losses or an increased likelihood of larger losses.

Car Insurance Loss Data for Hyundai Santa Fe Models
Specific Hyundai Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Hyundai Santa Fe 4dr 2WD 91 94 82 86 92 91
Hyundai Santa Fe 4dr 4WD 109 115 97 96 84 94
Hyundai Santa Fe Sport 4dr 2WD 88 90 93 90 89 93
Hyundai Santa Fe Sport 4dr 4WD 95 91 110 90 96 84

Data Source: (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Nashville auto insurance companies ranked

Finding the right insurer can be challenging considering how many companies there are in Nashville. The company rank data shown next could help you choose which auto insurers to look at purchasing a policy from.

Top 10 Nashville Car Insurance Companies Overall

  1. Travelers
  2. USAA
  3. Mercury Insurance
  4. AAA Insurance
  5. Nationwide
  6. Allstate
  7. State Farm
  8. The Hartford
  9. Safeco Insurance
  10. Progressive

Top 10 Nashville Car Insurance Companies Ranked by Claims Service

  1. Travelers
  2. Allstate
  3. Nationwide
  4. State Farm
  5. GEICO
  6. Liberty Mutual
  7. American Family
  8. Esurance
  9. AAA Insurance
  10. Titan Insurance

Keep this in mind when shopping around

You just learned some good ideas how you can compare Hyundai Santa Fe insurance prices in Nashville. The key concept to understand is the more quotes you get, the better your chances of lowering your rates. Consumers could even find that the best prices are with a small mutual company. Some small companies often have lower rates on specific markets compared to the large companies like Allstate, GEICO and Progressive.

Lower-priced insurance in Nashville is possible online in addition to many Nashville insurance agents, so you should compare both to have the best rate selection. Some companies do not offer online quoting and many times these regional insurance providers only sell coverage through independent insurance agencies.

As you restructure your insurance plan, don’t be tempted to reduce coverage to reduce premium. Too many times, someone dropped full coverage only to discover later they didn’t have enough coverage. Your strategy should be to buy the best coverage you can find for the lowest price while still protecting your assets.

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