Cheap Insurance for a Hyundai Sonata in New Jersey

We always joke that when we write about car insurance, the word cheap should not be used anywhere to describe car insurance rates. Notwithstanding, cheap car insurance for a Hyundai Sonata is not easy to find. Don’t let that ruin your day, because there may be ways you can find car insurance that may not be cheap, but it is affordable.

Finding cheap auto insurance for a Hyundai Sonata in New Jersey relies on a complicated formula that considers factors like the safety rating of your vehicle, the likelihood of vehicle theft, and if you have any chargeable driving offenses. Drivers in New Jersey pay on average $1,360 annually to insure a Hyundai Sonata, but that is an approximation based on rates for a 40-year-old married male driver who purchased both comprehensive and collision coverage and $500 deductibles.

Most likely you are not 40 and possibly not even male, maybe you are single instead of married, or maybe you need higher liability limits than the state minimum. Everone’s needs are different, and this illustrates why the most reliable way to find the cheapest rates for your Hyundai is to just take the time to compare rates yourself. In just a couple of minutes you can get rates from top-rated companies available.

Click to Compare Rates Now

The specific trim level will most likely have an effect on price, so the rate you will pay to insure a Sonata GLS 4-Dr Sedan will be $120 less expensive the price to insure the fancier Sonata Limited 4-Dr Sedan version, as shown in the table below.

Above prices assume married male driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Table data does not factor in New Jersey location which can affect coverage prices substantially.

Selecting the best auto insurance provider can be a challenge considering how many companies there are to choose from in New Jersey. The company ratings shown next may help you decide which auto insurance companies to look at when shopping your coverage around. The ratings below are only comprised of companies with a national presence, so smaller companies are not factored into this list.

Rate difference between full and liability-only coverage

Finding cheap insurance for a Hyundai Sonata in New Jersey is the goal of the majority of drivers, and an effective way to find cheap insurance is to only pay for liability coverage. The diagram below shows the difference between insurance prices with full physical damage coverage compared to only buying the minimum liability limits required in New Jersey. The information is based on a clean driving record, no at-fault accidents, $500 deductibles, marital status is single, and no other discounts are factored in.

If averaged for all ages, physical damage coverage costs an extra $2,846 per year more than just buying liability only. That amount may make you wonder if it’s worth it to buy full coverage. There is no definitive guideline to eliminate comp and collision coverage, but there is a general guideline you can use. If the annual cost of coverage is more than about 10% of the replacement cost of your vehicle minus the policy deductible, then it may be the right time to buy liability only.

For example, let’s assume your vehicle’s claim settlement value is $6,500 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $5,500 after you pay the deductible. If you are paying more than $550 annually for full coverage, then you may need to consider dropping full coverage.

There are some circumstances where removing full coverage is not a good idea. If you have an outstanding loan on your vehicle, you have to maintain 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 totaled, you should not eliminate full coverage.

Types of discounts on New Jersey insurance

Insurance companies that sell cheap insurance for a Hyundai Sonata in New Jersey may provide price discounts that can lower rates by as much as 35% or more if you meet eligibility requirements. Larger insurance companies and a selection of discounts can be read below.

The information below illustrates the comparison of annual premium costs with and without discounts being applied to the rates. The premiums assume a female driver, a clean driving record, no claims, New Jersey state minimum liability limits, comp and collision included, and $1,000 deductibles.

The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with safe-driver, multiple vehicle, claim-free, vehicle safety, defensive driving course, and accident-free discounts applied. When these discounts are applied to the policy premium, the average savings per year on insurance for a Hyundai Sonata is 37% or $485.

Find cheap insurance for a Hyundai Sonata in New Jersey

Here are a few thrifty ideas that can help you buy cheap car insurance.

• Serious violations like DUI or careless driving can make car insurance unaffordable
• Buy safe vehicles
• Full coverage is expensive so only insure older vehicles for liability only
• Increase physical damage deductibles
• Improve your credit score
• Being accident-free can lower rates significantly
• Comparison shop at least every other year

The last tip in the list is very critical, as we stressed in the prior information. Prices in New Jersey fluctuate constantly, so you should be ready to buy a different policy if you find a cheaper price. Staying with the same car insurance company is fine, but it’s not a great idea if that inflexibility results in costing you a wad of cash every year. It only take a few minutes to compare prices to find cheaper insurance for a Hyundai Sonata.