It’s easy to assume that auto insurance companies don’t want policyholders to shop around. Consumers who shop around for a cheaper policy are inclined to move their business because of the good chance of finding a lower-priced policy. A survey found that consumers who compared price quotes annually saved approximately $72 a month compared to those who don’t make a habit of comparing rates.
If finding the lowest rates on Hyundai Ioniq insurance in Baltimore is why you’re here, then learning a little about how to get rate quotes and compare insurance rates can help simplify the task of finding more affordable coverage.
The recommended way to get budget Hyundai Ioniq insurance is to compare prices at least once a year from different companies who provide car insurance in Baltimore. Drivers can shop around by following these guidelines.
- Get a basic knowledge of how companies price auto insurance and the measures you can control to keep rates low. Many risk factors that are responsible for high rates like distracted driving and an imperfect credit score can be eliminated by making minor changes in your lifestyle.
- Compare rates from exclusive agents, independent agents, and direct providers. Exclusive agents and direct companies can only quote rates from one company like Progressive and State Farm, while independent agents can provide prices from multiple insurance companies. View companies
- Compare the new rate quotes to your existing coverage and determine if there is any savings. If you can save some money and decide to switch, make sure coverage is continuous and does not lapse.
- Provide adequate notice to your current company to cancel your current policy and submit a signed application and payment for the new coverage. Make sure you store the certificate of insurance somewhere easily accessible.
One important bit of advice is that you’ll want to compare identical coverages on each quote request and and to get prices from as many different companies as possible. This ensures the most accurate price comparison and the best price quote selection.
Finding affordable insurance coverage in Baltimore can initially seem challenging. If you are already insured, you will most likely be able to reduce premiums using the following tips. But Maryland car owners benefit from understanding the way companies determine how much to charge and take advantage of how the system works.
Six discounts for lower-cost insurance rates
Insurance can be pricey, but you may be missing some discounts that you may not even be aware of. Some discounts apply automatically at the time you complete a quote, but some may not be applied and must be asked about before you get the savings.
- Seat Belts Save more than Lives – Requiring all passengers to wear their seat belts could cut 10% or more on medical payment and PIP coverage.
- Claim Free – Claim-free drivers pay less as compared to accident-prone drivers.
- Fewer Miles Equal More Savings – Fewer annual miles on your Hyundai may enable drivers to earn slightly better prices than normal.
- Early Payment Discounts – By paying your policy upfront instead of monthly or quarterly installments you can avoid monthly service charges.
- Save with More Vehicles Insured – Buying insurance for more than one vehicle with the same insurance company could earn a price break for each car.
- Air Bag Discount – Factory air bags or automatic seat belts may qualify for discounts as much as 30%.
Policy discounts save money, but most credits do not apply to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like comprehensive or collision. If you do the math and it seems like you could get a free insurance policy, insurance companies aren’t that generous.
Some companies that may offer quotes with some of the discounts shown above possibly include:
Before purchasing a policy, check with each company or agent to apply every possible discount. Savings might not be available to policyholders in your area. To view insurers that offer many of these discounts in Baltimore, click this link.
Car insurance coverage considerations
Knowing the specifics of a car insurance policy helps when choosing which coverages you need for your vehicles. The terms used in a policy can be ambiguous and even agents have difficulty translating policy wording.
Comprehensive or Other Than Collision
Comprehensive insurance pays to fix your vehicle from damage OTHER than collision with another vehicle or object. You first must pay your deductible then your comprehensive coverage will pay.
Comprehensive can pay for things such as rock chips in glass, damage from a tornado or hurricane and vandalism. The most you can receive from a comprehensive claim is the actual cash value, so if it’s not worth much more than your deductible it’s probably time to drop comprehensive insurance.
Coverage for collisions
Collision insurance will pay to fix damage to your Ioniq resulting from a collision with another car or object. You will need to pay your deductible and then insurance will cover the remainder.
Collision coverage protects against claims such as colliding with another moving vehicle, damaging your car on a curb, scraping a guard rail and sideswiping another vehicle. This coverage can be expensive, so consider removing coverage from lower value vehicles. Drivers also have the option to bump up the deductible on your Ioniq to save money on collision insurance.
Medical costs insurance
Medical payments and Personal Injury Protection insurance reimburse you for bills for ambulance fees, dental work and chiropractic care. They can be used to cover expenses not covered by your health insurance plan or if there is no health insurance coverage. It covers you and your occupants in addition to being hit by a car walking across the street. PIP is not an option in every state and gives slightly broader coverage than med pay
Liability coverage will cover damage or injury you incur to people or other property that is your fault. This insurance protects YOU against claims from other people, and doesn’t cover your injuries or vehicle damage.
Split limit liability has three limits of coverage: bodily injury per person, bodily injury per accident and property damage. Your policy might show policy limits of 30/60/15 that translate to a limit of $30,000 per injured person, a limit of $60,000 in injury protection per accident, and property damage coverage for $15,000.
Liability can pay for claims such as legal defense fees, pain and suffering, attorney fees, emergency aid and structural damage. How much liability coverage do you need? That is a decision to put some thought into, but you should buy as high a limit as you can afford. Maryland requires drivers to carry at least 30/60/15 but it’s recommended drivers buy better liability coverage.
The illustration below demonstrates why the minimum limit may not provide you with enough coverage.
Your UM/UIM coverage gives you protection from other motorists when they are uninsured or don’t have enough coverage. Covered claims include medical payments for you and your occupants as well as your vehicle’s damage.
Due to the fact that many Maryland drivers only carry the minimum required liability limits (Maryland limits are 30/60/15), it doesn’t take a major accident to exceed their coverage limits. So UM/UIM coverage should not be overlooked.
Persistence pays off
Consumers who switch companies do it for many reasons like high prices, lack of trust in their agent, policy non-renewal or an unsatisfactory settlement offer. Regardless of your reason, switching companies is not as difficult as it may seem.
Some auto insurance companies do not provide price quotes online and many times these smaller providers work with independent insurance agencies. Lower-priced auto insurance in Baltimore is possible online in addition to many Baltimore insurance agents, so you should compare both to get a complete price analysis.
In this article, we covered quite a bit of information on how to compare Hyundai Ioniq insurance car insurance rates in Baltimore. The key thing to remember is the more price quotes you have, the better your chances of lowering your premium rates. Consumers could even find that the lowest car insurance rates come from a company that doesn’t do a lot of advertising.
Additional auto insurance information can be found on the following sites:
- Higher speed limits cause more fatalities (Insurance Institute for Highway Safety)
- Who Has Cheap Auto Insurance for Uninsured Drivers in Baltimore? (FAQ)
- What Car Insurance is Cheapest for a Toyota Corolla in Baltimore? (FAQ)
- Who Has Cheap Car Insurance Quotes for a Honda CR-V in Baltimore? (FAQ)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)
- Uninsured Motorist Statistics (Insurance Information Institute)