Buying the best cheap auto insurance for a Hyundai Elantra is fairly simple, but it is dependent upon a complicated rating formula that uses factors such as age of the driver, your occupation, and driving citations. Drivers pay around $1,311 per year for Elantra insurance, but that price is an estimate calculated using a 50-year-old single male driver with both comprehensive and collision coverage and $250 deductibles.
The issue that arises when projecting rates is that it’s very likely that you may not be 50 years old (or even male), married instead of single, or maybe you’re a renter instead of a homeowner. Even a slight difference in rating variables or coverage information can make a big difference in the coverage rate.
Insurance is an individual thing, so the only way to find the cheapest coverage for your Hyundai is to do a thorough rate comparison. Quotes only take a couple of minutes and you will get price quotes from the best companies around.
The trim level of your vehicle will have an impact the annual cost of coverage, so the rate you will pay to insure a Elantra GLS Touring Station Wagon model will be $146 cheaper than the price to insure the more costly Elantra SE Touring Station Wagon trim level, as shown in the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Elantra GLS Touring Station Wagon | $260 | $494 | $430 | $26 | $128 | $1,338 | $112 |
| Elantra Blue 4-Dr Sedan | $260 | $708 | $506 | $30 | $152 | $1,656 | $138 |
| Elantra GLS 4-Dr Sedan | $298 | $708 | $506 | $30 | $152 | $1,694 | $141 |
| Elantra SE 4-Dr Sedan | $298 | $708 | $506 | $30 | $152 | $1,694 | $141 |
| Elantra SE Touring Station Wagon | $298 | $602 | $430 | $26 | $128 | $1,484 | $124 |
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Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Oklahoma minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Rate information does not factor in specific zip code location which can decrease or increase price quotes significantly.
Finding decent, low-cost car insurance is not most people’s favorite thing to do, and finding out which companies offer the lowest-priced insurance rates for a Hyundai Elantra will involve even more shopping around.
Every auto insurer has a unique formula to determine premium rates, so let’s begin by taking a look at the insurance companies with the most affordable rates in Oklahoma City. It’s important that readers know that Oklahoma City insurance rates are based on many factors which can substantially change the cost of a policy. Turning one year older, getting married, or getting a ticket for running a stop sign can cause premium changes that can cause some rates to be higher-priced than before.
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| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | USAA | $1,150 |
| 2 | Oklahoma Farmers Union | $1,190 |
| 3 | The Hartford | $1,333 |
| 4 | GEICO | $1,340 |
| 5 | Farmers | $1,380 |
| 6 | Safe Auto | $1,419 |
| 7 | State Farm | $1,583 |
| 8 | Travelers | $1,868 |
| 9 | Liberty Mutual | $1,871 |
| 10 | OK Farm Bureau | $1,997 |
| 11 | Mercury | $2,033 |
| 12 | Shelter | $2,129 |
| 13 | MetLife | $2,147 |
| 14 | Home State | $2,193 |
| 15 | Progressive | $2,223 |
| 16 | Allstate | $2,472 |
| 17 | Safeco | $5,158 |
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USAA may offer some of the most affordable car insurance rates in Oklahoma City at around $1,150 annually. Oklahoma Farmers Union, The Hartford, GEICO, and Farmers are also some of the best Oklahoma City, OK auto insurance companies.
As the rates illustrate above, if you currently buy coverage from GEICO and switched to Oklahoma Farmers Union, you might achieve an annual premium reduction of about $150. Customers with Farmers could save as much as $190 a year, and Safe Auto policyholders might lower prices by up to $229 a year.
It’s important to note that these premiums are averages across all drivers and vehicles in Oklahoma and and are not calculated with a specific zip code for a Hyundai Elantra. So the insurer that has the cheapest rates for you may not even be in the top 17 companies in the list above. That point stresses why you need to get rate quotes using your own personalized driver profile and vehicle information.
Discounts on Oklahoma City car insurance
Insurance companies that offer quotes for a Hyundai Elantra may have price discounts that can lower rates by as much as 25% or more if you are eligible. A few of the larger companies and some of the discounts are included below.
- State Farm may offer discounts for student away at school, multiple autos, defensive driving training, driver’s education, and Steer Clear safe driver discount.
- GEICO offers discounts for driver training, multi-policy, membership and employees, good student, military active duty, and anti-theft.
- Progressive discounts include continuous coverage, online signing, multi-vehicle, multi-policy, homeowner, and good student.
- 21st Century policyholders can earn discounts including defensive driver, 55 and older, student driver, automatic seat belts, driver training, and air bags.
- American Family may have discounts that include accident-free, TimeAway discount, good student, mySafetyValet, air bags, good driver, and Steer into Savings.
- The Hartford offers premium reductions for vehicle fuel type, air bag, anti-theft, defensive driver, bundle, driver training, and good student.
- AAA has savings for good driver, anti-theft, good student, pay-in-full, multi-policy, education and occupation, and AAA membership discount.
The information below illustrates the difference between insurance rates with and without discounts applied to the rates. The price estimates are based on a male driver, no violations or claims, Oklahoma state minimum liability limits, comp and collision included, and $100 deductibles.
The first bar for each age group shows premium with no discounts. The second bar shows the rates with multiple vehicle, defensive driving course, multiple policy, accident-free, passive restraint, and anti-theft discounts applied. When drivers take advantage of discounts, theaverage amount saved on insurance for a Hyundai Elantra is 28% or $710.
Are you paying too much for car insurance?
Oklahoma City insurance rates are impacted by many things that may substantially change your annual premium. Simply getting older, moving across town, or getting caught speeding can produce rate changes that can cause some rates to be more affordable than the competition.
In addition, insurance companies change the rates they charge in Oklahoma at least once a year to ensure their profitability. Significantly higher losses can result in increased rates, while lower claim expenses can cause lower-cost Elantra insurance rates.
The data below shows the cheapest car insurance in Oklahoma City, OK for a 40-year-old male driver with no violations or accidents, and a good credit rating. If we look at prices based on his personal risk profile, USAA may have the cheapest car insurance rates in Oklahoma City at $1,342 a year. This is $625 less than the average price paid by Oklahoma drivers of $1,967. Oklahoma Farmers Union, The Hartford, GEICO, and Safe Auto are also included in the top five cheapest Oklahoma City, OK auto insurance companies.
In this example, we will give the driver from the first set of rates a claim surcharge, less-than-perfect credit, and a speeding citation. Since each insurance company has a proprietary method to determining premium rates, comparing prices may now show a significantly different list of affordable Oklahoma City car insurance companies as shown below.
State Farm now has the cheapest price in Oklahoma City, OK with Oklahoma Farmers Union, Travelers, The Hartford, and Liberty Mutual now rounding out the top five. This shows why Oklahoma City drivers need to take the time to shop around when trying to get cheap auto insurance quotes for a Hyundai Elantra.
Car insurance prices are determined by many factors and can change substantially, so the cheapest rate six months ago may now be wasting a lot of money.