Unfortunately, nearly 70% of customers renewed their policy with the same company for at least four years, and almost 40% of drivers have never compared rates from other carriers. With the average auto insurance premium being $1,800, Oklahoma drivers could cut their rates by almost 35% a year, but they just don’t understand how much savings they would realize if they replace their high priced policy.
If saving the most money is your goal, then the best way to find affordable quotes for Hyundai XG350 insurance is to start comparing prices regularly from companies who provide auto insurance in Tulsa. Prices can be compared by completing these steps.
Step 1: Read and learn about how your policy works and the steps you can take to prevent expensive coverage. Many policy risk factors that cause rate increases like inattentive driving and a less-than-favorable credit rating can be rectified by paying attention to minor details.
Step 2: Get rate quotes from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only give prices from a single company like GEICO or Allstate, while independent agents can give you price quotes for many different companies.
Step 3: Compare the new quotes to your existing policy to determine if switching companies saves money. If you find a lower rate quote and buy the policy, make sure the effective date of the new policy is the same as the expiration date of the old one.
Step 4: Notify your agent or company to cancel the current policy and submit a completed application and payment to the newly selected company. Don’t forget to store the certificate verifying proof of insurance somewhere easily accessible.
A good piece of advice is that you’ll want to compare the same physical damage deductibles and liability limits on every price quote and and to get rate quotes from every company you can. This helps ensure a level playing field and a complete price analysis.
Car insurance 101
Understanding the coverages of auto insurance can be of help when determining which coverages you need and proper limits and deductibles. The terms used in a policy can be impossible to understand and even agents have difficulty translating policy wording.
Coverage for liability
This provides protection from injuries or damage you cause to other people or property in an accident. This coverage protects you against other people’s claims. It does not cover damage to your own property or vehicle.
It consists of three limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 25/50/25 which stand for $25,000 in coverage for each person’s injuries, a per accident bodily injury limit of $50,000, and property damage coverage for $25,000.
Liability coverage protects against things such as medical services, structural damage, pain and suffering and bail bonds. How much coverage you buy is up to you, but you should buy as much as you can afford. Oklahoma requires minimum liability limits of 25/50/25 but you should think about purchasing higher limits.
The illustration below shows why minimum state limits may not be high enough to adequately cover claims.
Collision insurance pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.
Collision insurance covers claims like colliding with another moving vehicle, rolling your car, sustaining damage from a pot hole and crashing into a building. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. Another option is to raise the deductible on your XG350 in order to get cheaper collision rates.
Comprehensive auto insurance
This coverage will pay to fix damage caused by mother nature, theft, vandalism and other events. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive insurance covers things such as hitting a bird, fire damage, vandalism, damage from a tornado or hurricane and damage from flooding. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if the vehicle’s value is low it’s probably time to drop comprehensive insurance.
Coverage for uninsured or underinsured drivers
This coverage protects you and your vehicle from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for medical payments for you and your occupants and damage to your Hyundai XG350.
Because many people only carry the minimum required liability limits (which is 25/50/25), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is very important.
Coverage for medical expenses
Personal Injury Protection (PIP) and medical payments coverage reimburse you for expenses for things like pain medications, chiropractic care and rehabilitation expenses. They are used to cover expenses not covered by your health insurance plan or if you are not covered by health insurance. It covers both the driver and occupants as well as any family member struck as a pedestrian. PIP coverage is not universally available and may carry a deductible
Quote more to save more
Insureds switch companies for a variety of reasons including unfair underwriting practices, delays in responding to claim requests, denial of a claim or extreme rates for teen drivers. It doesn’t matter why you want to switch finding a new company is not as hard as you think.
We just presented many tips how you can save on Hyundai XG350 insurance in Tulsa. The key thing to remember is the more rate comparisons you have, the better your comparison will be. Drivers may even discover the best price on auto insurance is with a smaller regional carrier.
Cost effective Hyundai XG350 insurance is available from both online companies and with local Tulsa insurance agents, so you need to quote Tulsa auto insurance with both to get a complete price analysis. Some auto insurance companies do not provide the ability to get a quote online and usually these regional insurance providers sell through independent agents.
- Anti-Lock Brake FAQ (iihs.org)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- Child Safety Seats (Insurance Information Institute)
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Auto Theft Statistics (Insurance Information Institute)