Finding economical coverage for a Hyundai Elantra is pretty simple, but it is dependent upon lots of different rating factors such as how you use your vehicle, what you do for a living, and any driving offenses on your record. New Jersey drivers pay around $1,314 per year for Elantra insurance, but that is using a 50-year-old married male driver with full coverage and $100 deductibles.
This brings up the issue that more than likely you’re not a 50-year-old male, maybe you are single instead of married, or maybe your Elantra doesn’t need full coverage. Not everyone needs the same coverages, so the best method for finding the cheapest insurance price for your Hyundai is to compare as many rates as you can.
The trim level of your Elantra tends to impact the insurance rate, so the price you will pay to insure a Elantra GLS Touring Station Wagon trim level will be $152 less expensive the cost to insure the fancier Elantra SE Touring Station Wagon model, as shown by the rates below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Elantra GLS Touring Station Wagon | $282 | $522 | $392 | $24 | $118 | $1,338 | $112 |
| Elantra Blue 4-Dr Sedan | $282 | $748 | $462 | $28 | $138 | $1,658 | $138 |
| Elantra GLS 4-Dr Sedan | $322 | $748 | $462 | $28 | $138 | $1,698 | $142 |
| Elantra SE 4-Dr Sedan | $322 | $748 | $462 | $28 | $138 | $1,698 | $142 |
| Elantra SE Touring Station Wagon | $322 | $634 | $392 | $24 | $118 | $1,490 | $124 |
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Data variables include married male driver age 50, no speeding tickets, no at-fault accidents, $100 deductibles, and New Jersey minimum liability limits. Discounts applied include multi-vehicle, multi-policy, safe-driver, homeowner, and claim-free. Price information does not factor in the specific area where the vehicle is garaged which can impact rates substantially.
Establishing which insurers offer the lowest-priced auto insurance rates for a Hyundai Elantra calls for a bit more effort in order to find the lowest price.
Each auto insurer uses different criteria for setting rates, so let’s examine the most affordable auto insurance companies in Jersey City.
Cheapest Insurance Rates for Your Hyundai
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | 21st Century | $1,111 |
| 2 | Travelers | $1,145 |
| 3 | New Jersey Manufacturers | $1,297 |
| 4 | Penn National | $1,325 |
| 5 | Palisades | $1,382 |
| 6 | California Casualty | $1,451 |
| 7 | The Hartford | $1,491 |
| 8 | Allstate | $1,538 |
| 9 | USAA | $1,585 |
| 10 | Mercury | $1,603 |
| 11 | Esurance | $1,838 |
| 12 | Amica | $1,887 |
| 13 | Progressive | $1,919 |
| 14 | MetLife | $2,010 |
| 15 | State Farm | $2,182 |
| 16 | GEICO | $2,196 |
| 17 | Encompass | $2,397 |
| 18 | Liberty Mutual | $2,978 |
| 19 | Hanover | $3,909 |
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21st Century generally has some of the most affordable car insurance rates in Jersey City at around $1,111 a year. Travelers, New Jersey Manufacturers, Penn National, and Palisades would also make the list of some of the cheaper Jersey City, NJ auto insurance companies.
In the above example, if you have coverage with New Jersey Manufacturers and switched to 21st Century, you might achieve yearly savings of roughly $186. Policyholders with Penn National could save as much as $214 a year, and Palisades customers might lower prices by up to $271 a year.
Remember that these premiums are averaged across all ages of drivers and types of vehicles and and are not figured with an exact location for a Hyundai Elantra. So the insurer that has the cheapest price for you may not even be in the list above. That underscores the importance of why you need to get rate quotes from many companies using your own specific driver information and vehicle.
The information below shows how choosing a deductible can change annual premium costs when getting quotes for cheap insurance for a Hyundai Elantra. The rates are based on a single male driver, full physical damage coverage, and no discounts are factored in.
A 30-year-old driver could lower their car insurance rates by $582 a year by changing from a $100 deductible up to a $500 deductible, or save $872 by selecting a $1,000 deductible. Even younger drivers, like the age 20 example, could save as much as $1,744 or even more by using a higher deductible. If you do raise deductibles, it will now be necessary to have enough savings set aside to enable you to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.
Discounts on Jersey City auto insurance
Insurers that sell policies for a Hyundai Elantra may additionally offer premium discounts that can lower rates by as much as 30% if you are eligible to receive them. Companies and a summarized list of policyholder discounts can be read below.
- Farm Bureau includes discounts for renewal discount, youthful driver, good student, multi-vehicle, multi-policy, safe driver, and 55 and retired.
- State Farm has discounts for accident-free, good driver, anti-theft, passive restraint, student away at school, and multiple policy.
- Progressive offers premium reductions for homeowner, online quote discount, multi-vehicle, continuous coverage, and good student.
- Allstate may offer discounts for economy car, EZ pay plan discount, anti-theft, safe driver, utility vehicle, and teenSMART discount.
- Nationwide may have discounts that include family plan, easy pay, defensive driving, Farm Bureau membership, multi-policy, and accident-free.
- MetLife policyholders can earn discounts including claim-free, multi-policy, accident-free, good driver, defensive driver, good student
The illustration below illustrates the difference between insurance premiums with and without discounts applied. The costs are based on a male driver, no claims or driving citations, New Jersey state minimum liability limits, full physical damage coverage, and $1,000 deductibles.
The first bar for each age group shows the average annual price with no discounts. The second bar shows the rates with safe-driver, defensive driving course, homeowner, anti-theft, passive restraint, and multiple vehicle discounts applied. With discounts applied, the average savings per year on auto insurance for a Hyundai Elantra is 28% or $704.
Liability only or full coverage
Reducing premiums for auto insurance should be important to most vehicle owners, and a great way to find cheap insurance for a Hyundai Elantra is to only buy liability insurance. The diagram below compares auto insurance rates with full physical damage coverage compared to only buying the minimum liability limits required in New Jersey. The premium estimates are based on no claims, a clean driving record, $500 deductibles, single marital status, and no discounts are applied to the premium.
As an average, comprehensive and collision coverage on your policy costs an extra $2,791 per year more than carrying just liability coverage. Lot’s of drivers question if physical damage coverage is worth the money. There is no exact formula to eliminate physical damage insurance, but there is a general guideline you can use. If the annual cost of coverage is more than around 10% of the settlement you would receive from your company, then you might want to consider buying only liability coverage.