How Much Does Insurance Cost for a Hyundai Elantra in Rhode Island?

When we talk about car insurance, the words “affordable” or “cheap” should never be used anywhere in the article to describe car insurance rates. Sad but true, cheap car insurance for a Hyundai Elantra is pretty hard to find. But don’t despair, because there may be ways you can quote and buy insurance that is more budget-friendly.

The likelihood of finding cheap auto insurance for a Hyundai Elantra in Rhode Island is dependent upon many factors like how many years you have been driving, your credit rating, and deductible levels for physical damage coverage. Drivers pay on average $860 every 12 months to insure a Hyundai Elantra, but that amount is a valuation calculated using a 40-year-old married male driver that has full coverage including both comprehensive and collision and $1,000 policy deductibles.

There is a good chance you are not 40 and maybe not even a male, you might be single instead of married, or maybe you just want liability only. Having the smallest difference in rating factors could end up in a significant change in the cost of coverage for a Hyundai Elantra.

Everyone has unique insurance needs, and this illustrates why the way we recommend to find cheap insurance rates for your Hyundai is to shop around at every renewal for lower rates. Quotes are always free and you will be able to see rates from the best companies around.

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The trim level of your vehicle tends to have a direct impact on the yearly cost, so the price to insure a Elantra GLS Touring Station Wagon will be $76 cheaper than the insurance cost for the more costly Elantra SE Touring Station Wagon trim level, as demonstrated by the prices below.

Price data assumes married male driver age 40, no speeding tickets, no at-fault accidents, $1000 deductibles, and Rhode Island minimum liability limits. Discounts applied include safe-driver, multi-vehicle, claim-free, homeowner, and multi-policy. Rates do not factor in your specific Rhode Island location which can influence premium rates significantly.

Insuring your vehicle with the top auto insurance provider is difficult considering how many choices you have in Rhode Island. The ranking data listed below may help you pick which auto insurance companies you want to consider comparing rates with.

The ratings below only include the largest companies in the United States, so smaller regional companies are not included in the list. If you wish to compare prices and find cheaper insurance for a Hyundai Elantra, just click here.

Does it make sense to buy full coverage?

Finding cheap insurance for a Hyundai Elantra in Rhode Island is probably important to most vehicle owners, and one good way to buy cheaper insurance is to only pay for liability coverage. The diagram below shows the comparison of insurance costs when comparing full coverage to liability only. The premiums are based on no claims or driving violations, $1,000 deductibles, drivers are not married, and no discounts are taken into consideration.

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Averaged for all ages 20 through 70, comprehensive and collision coverage on your policy costs $2,120 per year over and above liability only. Lot’s of drivers question if paying for full coverage is a waste of money. There is no written rule of when to eliminate comp and collision coverage, but there is a broad guideline. If the yearly cost of full coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, then you may need to consider dropping full coverage.

For example, let’s pretend your vehicle’s replacement value is $7,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $6,000 after the policy deductible has been paid. If you are paying over $600 a year for comprehensive and collision coverage, then you may need to consider dropping full coverage.

Accidents and violations increase rates

One of the best ways to score affordable auto insurance premiums in Rhode Island for an Elantra is to drive safe and avoid getting tickets or having accidents. The chart below demonstrates how speeding tickets and at-fault fender-benders can impact insurance premiums for each different age group. The costs are based on a single female driver, comp and collision included, $1,000 deductibles, and no discounts are factored in.

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The data above shows the average cost of auto insurance in Rhode Island per year with no violations or accidents is $1,991. Get two speeding tickets and the average cost hikes up to $2,658, an increase of $667 each year. Then add in two accidents along with the two speeding tickets and the 12-month cost of auto insurance for a Hyundai Elantra increases to an average of $5,414. That’s an increase of $3,423, or $285 per month, just for being a little careless behind the wheel!

Does Allstate, Geico, State Farm, or Progressive have the cheapest car insurance?

If you want reliable insurance for an Elantra in Rhode Island, the companies that insure more vehicles than anyone else are Allstate, Geico, State Farm, and Progressive. If you put them all together, they insure nearly half of all auto insurance policies in force. The next table breaks down ratings and policy coverage options that are available for policyholders.