Average Insurance Costs:
- Annual Premium: Approximately $1,805 for full coverage.
- Monthly Premium: Around $150 per month.
These figures are averages and can vary based on individual circumstances.
Factors Influencing Premiums:
- Vehicle Theft Concerns: Due to a rise in thefts of certain Hyundai models, some insurers have adjusted their policies. For instance, Progressive has restricted offering coverage on new policies for specific Hyundai models in the Denver area.
- Driving Record: A clean driving history can lead to lower rates, while violations or accidents may increase premiums.
- Location: Insurance costs can vary by city due to factors like traffic density, accident rates, and local regulations.
- Age and Gender: Younger drivers and males often face higher premiums due to statistical risk factors.
- Credit Score: A higher credit score can result in lower insurance rates, as it’s often viewed as an indicator of financial responsibility.
 21, Male, Single, Denver, Colorado) |
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| Year/Make Model: 2016 Hyundai Sonata |
| Ownership Status: Owned |
| Discounts: Paperless, Automatic Payments via bank draft, Accident Free & Claims Free |
| Selected Coverages With National General |
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| Bodily Injury Liability: $25,000 per person/$50,000 per accident |
| Property Damage Liability: $25,000 |
| Other Rejected Coverages: Uninsured/Underinsured Motorist, Medical Payments, Comprehensive, Collision, Rental Reimbursement, Roadside Assistance |
Due to the type of vehicle the customer owns – it was a bit difficult to find a policy. There is a large number of both Hyundai and Kia vehicles that are becoming difficult to insure due to the theft rate of them being incredibly high right now. His age is also another factor that increased his rate for just liability on the 2016 Hyundai Sonata.
Please note that this is only meant as an example and prices may vary depending on several factors.
Total 6 Month Premium: $1,270
Monthly Installments: $195.50
Recommendations:
- Compare Quotes: Obtain quotes from multiple insurers to find the best rate tailored to your circumstances.
- Assess Coverage Needs: Ensure that the policy you choose provides adequate protection for your vehicle and personal situation.
- Consider Discounts: Inquire about available discounts, such as multi-policy bundling, safe driver discounts, or discounts for safety features equipped in your Sonata.
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