If you want to find the absolute lowest rates, then the best way to find lower priced auto insurance rates is to compare quotes annually from companies that insure vehicles in Portland.
- First, try to understand car insurance and the measures you can take to lower rates. Many things that increase rates like careless driving and an unfavorable credit rating can be rectified by improving your driving habits or financial responsibility.
- Second, compare price quotes from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can provide rates from a single company like Progressive or Allstate, while independent agencies can give you price quotes from many different companies.
- Third, compare the new quotes to your existing coverage and see if there is a cheaper rate. 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.
One thing to point out is to try to use the same liability limits and deductibles on each quote request and and to compare as many companies as you can. Doing this provides an accurate price comparison and the best price selection.
Shocking but true, almost 70% of drivers have bought car insurance from the same company for over three years, and roughly 40% of drivers have never compared rates with other companies. Portland insurance shoppers could save as much as 60% a year by just comparing quotes, but most tend to underestimate the amount of money they would save if they replace their high priced policy.
Choosing the best rates in Portland can be much easier if you know how to start. Virtually every driver who wants cheaper insurance will most likely be able to cut their insurance bill. Nevertheless, Oregon vehicle owners must comprehend how the larger insurance companies set your policy premium because it can help you find the best coverage.
Most of the larger companies allow consumers to get insurance quotes direct online. Getting quotes for Hyundai Genesis insurance in Portland is fairly simple because you just enter the coverage amounts you desire as requested by the quote form. After you complete the form, their quoting system requests your driving and credit reports and returns a price based on these and other factors.
Being able to quote online for Hyundai Genesis insurance in Portland makes it a lot easier to compare rates and it’s very important to compare as many rates as possible in order to find the cheapest possible prices on auto insurance.
To find out what other companies charge, visit the companies below or click here to submit a quote request to multiple companies at once. If you have coverage now, it’s recommended you enter deductibles and limits exactly as they are listed on your policy. Doing this assures you will get an apples-to-apples comparison based on similar coverages.
The companies shown below have been selected to offer quotes in Oregon. If you wish to find the best cheap car insurance in Portland, OR, we recommend you visit two to three different companies in order to get a fair rate comparison.
Hyundai Genesis insurance rate analysis
The rate table displayed next covers estimates of rate quotes for Hyundai Genesis models. Being able to understand how car insurance premiums are formulated can aid in making decisions on the best policy to buy.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Genesis 2.0T 2-Dr Coupe | $270 | $554 | $408 | $24 | $122 | $1,378 | $115 |
| Genesis 3.8 4-Dr Sedan | $302 | $480 | $278 | $16 | $82 | $1,158 | $97 |
| Genesis 2.0T Premium 2-Dr Coupe | $302 | $554 | $408 | $24 | $122 | $1,410 | $118 |
| Genesis 3.8 2-Dr Coupe | $302 | $554 | $408 | $24 | $122 | $1,410 | $118 |
| Genesis 2.0T Track 2-Dr Coupe | $302 | $554 | $408 | $24 | $122 | $1,410 | $118 |
| Genesis 3.8 Grand Touring 2-Dr Coupe | $302 | $554 | $408 | $24 | $122 | $1,410 | $118 |
| Genesis 4.6 4-Dr Sedan | $302 | $554 | $278 | $16 | $82 | $1,232 | $103 |
| Genesis 3.8 Track 2-Dr Coupe | $302 | $626 | $408 | $24 | $122 | $1,482 | $124 |
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Data based on married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Oregon minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, claim-free, and safe-driver. Price estimates do not factor in specific zip code location which can alter premiums considerably.
Reckless driving habits raise Portland insurance rates
The diagram below highlights how traffic violations and at-fault collisions drive up Hyundai Genesis car insurance costs for different categories of driver ages. The prices are based on a single female driver, comprehensive and collision coverage, $1,000 deductibles, and no policy discounts are applied.
Gender-based insurance rates in Portland
The information below compares Hyundai Genesis insurance prices for male and female drivers. Data assumes no claims, a clean driving record, full physical damage coverage, $500 deductibles, single status, and no discounts are factored in.
How much more does full coverage cost?
The chart below illustrates the comparison of Hyundai Genesis premium costs with full physical damage coverage compared to only buying liability only. The data is based on no claims or violations, $250 deductibles, drivers are single, and no discounts are applied.
When to drop comprehensive and collision
There is no definitive rule for dropping comp and collision coverage, but there is a guideline you can use. If the yearly cost of full coverage is more than around 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 say your Hyundai Genesis replacement cost is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most your company would pay you is $7,000 after the deductible is paid. If you are paying over $700 annually for physical damage coverage, then it may be the right time to buy liability only.
There are some circumstances where dropping physical damage coverage is not recommended. If you still have a loan on your vehicle, you are required to maintain full coverage to satisfy the loan requirements. Also, if your emergency fund is not enough to purchase a different vehicle if your current one is damaged, you should maintain full coverage.
Six Tips to Get Cheaper Portland Insurance Costs
Many different elements are part of the calculation when quoting car insurance. Some are obvious such as traffic violations, but other criteria are more transparent like your vehicle usage and annual miles driven. One of the most helpful ways to save on insurance is to to have a grasp of the rating factors that come into play when calculating the rates you pay for insurance. If you know what determines base rates, this allows you to make good choices that can earn you lower premium levels.
The list below includes a few of the things used by companies to determine your premiums.
Excellent credit saves on insurance – Having a bad credit history is a big factor in determining your rates. If your credit can use some improvement, you could potentially save money when insuring your Hyundai Genesis by improving your rating. People that have high credit ratings tend to be better drivers and file fewer claims than drivers who have lower ratings.
Married drivers get better premiums – Getting married may earn you lower rates compared to being single. It generally demonstrates drivers are less irresponsible and statistics show being married results in fewer claims.
Stress out and pay more – Do you work in a high-stress field? Jobs such as judges, architects, and emergency personnel have higher rates than the rest of us in part from intense work-related stress and lots of time spent away from family. Conversely, careers such as farmers, historians and retirees have the lowest average rates.
Big city or small town – Living in a rural area is a positive aspect when talking about insurance. Drivers who live in large cities have more aggressive driving styles and higher rates of accident claims. Fewer people means fewer accidents and a lower car theft rate.
Incidental coverages that may not be needed – There are many extra coverages you can purchase on your Genesis policy. Coverage for things like coverage for rental cars, death and dismemberment, and membership fees could be just wasting money. The coverages may be enticing when you first buy your policy, but if they’re wasting money get rid of them and save.
Low comp and collision deductibles mean high costs – Deductibles for physical damage are how much you are required to spend if a claim is determined to be covered. Insurance for physical damage to your car, aka comp and collision, protects your car from damage. Some examples of claims that would be covered would be collision with another vehicle, fire damage, and damage from wind. The larger the amount you are required to pay out-of-pocket, the less your insurance will be.
Hyundai Genesis insurance loss statistics – Auto insurance companies factor in historical loss data to calculate a price that will offset losses. Vehicles that the data shows to have higher prevalence or dollar amount of losses will cost more for specific coverages.
The table below outlines the collected loss data for Hyundai Genesis vehicles. For each coverage type, the statistical loss for all vehicles, regardless of manufacturer or model, is considered to be 100. Values that are below 100 mean the vehicle has better than average losses, while values that are 100 or greater point to more losses or larger claims.
| Vehicle Make and Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Hyundai Genesis | 178 | 122 | 117 | 119 | 103 | 117 |
| Hyundai Genesis 4dr | 154 | 71 | 154 | 85 | 99 |
Empty fields indicate not enough data collected
Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years
Insurance in Oregon serves several purposes
Despite the high cost, insuring your vehicle serves an important purpose.
- Almost all states have mandatory insurance requirements which means you are required to carry specific limits of liability coverage in order to drive the car legally. In Oregon these limits are 25/50/20 which means you must have $25,000 of bodily injury coverage per person, $50,000 of bodily injury coverage per accident, and $20,000 of property damage coverage.
- If you have a lien on your Hyundai Genesis, more than likely the lender will have a requirement that you have physical damage coverage to protect their interest in the vehicle. If you cancel or allow the policy to lapse, the lender will be forced to insure your Hyundai at a much higher premium rate and require you to fork over for the much more expensive policy.
- Insurance preserves not only your vehicle but also your assets. It will also pay for medical expenses for yourself as well as anyone injured by you. Liability coverage also pays expenses related to your legal defense if you are sued as the result of an accident. If you have damage to your Hyundai as the result of the weather or an accident, comprehensive and/or collision insurance will cover the repair costs.
The benefits of insuring your car more than cancel out the cost, particularly when you have a large claim. Unknowingly, the average driver is overpaying over $850 per year so compare quotes from several companies every year to make sure the price is not too high.