Cheap 2012 Hyundai Veloster Car Insurance Cost

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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Written by Jeffrey Johnson
Insurance Lawyer Jeffrey Johnson

UPDATED: Mar 31, 2020

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Locating the cheapest insurance for a Hyundai Veloster can turn out to be a lot of work, but you can follow these tips to make it easier.

There is a right way and a wrong way to buy insurance so you’re going to learn the quickest way to price shop coverage for a Hyundai and get the best price possible.

What determines your Hyundai Veloster insurance premium

Smart consumers have a good feel for some of the elements that go into determining your insurance rates. When you know what positively or negatively influences your rates allows you to make educated decisions that can help you get lower insurance prices.

  • Liability coverage protects you – Liability insurance will protect you if you are found liable for personal injury or accident damage. Liability insurance provides legal defense coverage which can cost thousands of dollars. Carrying liability coverage is mandatory and cheap compared to physical damage coverage, so buy as much as you can afford.
  • Battle of the sexes – Statistics show that women are safer drivers than men. Now that doesn’t mean men are worse drivers. They both cause accidents at about the same rate, but men tend to have more serious accidents. Men also receive more costly citations such as DWI and reckless driving.
  • Keep rates low by being claim-free – Auto insurance companies generally give lower rates to policyholders who are claim-free. If you are a frequent claim filer, you can pretty much guarantee either a policy non-renewal or much higher rates. Insurance coverage is intended to be relied upon for the large, substantial claims.
  • Theft deterrents lower rates – Purchasing a vehicle with an alarm system can help bring down rates. Theft prevention features like GM’s OnStar, tamper alarm systems and vehicle immobilizers all aid in stopping car theft.
  • More miles equals more premium – Driving more miles in a year the higher your rate. Most companies price each vehicle’s coverage determined by how the vehicle is used. Cars left parked in the garage receive lower rates than vehicles that are driven to work every day. Make sure your insurance coverage properly reflects the proper vehicle usage, because improper ratings can cost you money. If your policy improperly rates your Veloster can cost quite a bit.
  • Bump up deductibles to save – Your deductibles represent how much money you are willing to pay out-of-pocket if you file a covered claim. Coverage for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your car. Examples of covered claims are colliding with a building, damage from fire, and rolling your vehicle. The higher the amount you’re willing to pay, the bigger discount you will receive on Veloster coverage.
  • Clean credit earns discounts – Credit history is a huge factor in determining what you pay for insurance. If your credit history is not that good, you could save money insuring your 2012 Hyundai Veloster by improving your rating. People with high credit ratings tend to be more responsible as compared to drivers with lower credit scores.

Companies offer discounts so take them!

Insuring your fleet can be pricey, but companies offer discounts that you may not know about. Certain discounts will be applied at the time of quoting, but a few must be inquired about before being credited. If you’re not getting every credit possible, you are paying more than you should be.

  • Drive Less and Save – Keeping the miles down on your Hyundai can qualify you for better rates on cars that stay parked.
  • Student in College – Kids in college who live away from home without a vehicle on campus may qualify for this discount.
  • Seat Belts Save more than Lives – Using a seat belt and requiring all passengers to buckle their seat belts could save 15% off the personal injury premium cost.
  • Discount for Life Insurance – Select insurance companies reward you with lower rates if you buy auto and life insurance together.
  • Multi-car Discount – Buying insurance for more than one vehicle on one policy may reduce the rate for each vehicle.
  • Federal Government Employee – Active or retired federal employment can save as much as 8% on Veloster coverage depending on your company.

It’s important to understand that most of the big mark downs will not be given the whole policy. Most only reduce the cost of specific coverages such as collision or personal injury protection. Just because you may think it’s possible to get free car insurance, companies wouldn’t make money that way. Any qualifying discounts will reduce your overall premium however.

To see a list of providers offering auto insurance discounts, click here.

Beware of misleading insurance coverage ads

Consumers can’t get away from ads for cheaper car insurance by Progressive, Allstate and GEICO. All the companies make an identical promise about savings if you move to their company.

How can each company make the same claim? It’s all in the numbers.

Insurance companies can use profiling for the type of customer they prefer to insure. For example, a desirable insured might be profiled as between 25 and 40, has no tickets, and drives less than 7,500 miles a year. Any new insured that hits that “sweet spot” will qualify for the lowest rates and as a result will probably cut their rates substantially.

Drivers who are not a match for this ideal profile will be charged higher premiums which usually ends up with business going elsewhere. The ads say “customers that switch” not “people who quote” save money. That’s the way insurance companies can advertise the savings.

That is why it is so important to get as many comparisons as possible. Because you never know which company will give you the biggest savings on Hyundai Veloster insurance.

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Do I just need basic coverages?

When it comes to buying adequate coverage for your personal vehicles, there really is no “perfect” insurance plan. Each situation is unique.

For example, these questions may help you determine if your situation would benefit from professional advice.

  • Can I get a multi-policy discount?
  • How can I force my company to pay a claim?
  • Do I get a pro-rated refund if I cancel my policy early?
  • Do I pay less for low miles?
  • How much can I save by bundling my policies?
  • Is borrowed equipment or tools covered if stolen or damaged?
  • Can my teen driver be rated on a liability-only vehicle?
  • I have good health insurance, so how much medical payments coverage do I need?

If you’re not sure about those questions but you know they apply to you, you might consider talking to a licensed insurance agent. To find an agent in your area, take a second and complete this form. It’s fast, free and can provide invaluable advice.

The coverage is in the details

Knowing the specifics of car insurance can be of help when determining appropriate coverage and the correct deductibles and limits. Car insurance terms can be impossible to understand and even agents have difficulty translating policy wording.

Collision coverage protection

Collision insurance pays for damage to your Veloster resulting from colliding with another car or object. A deductible applies and the rest of the damage will be paid by collision coverage.

Collision insurance covers things like crashing into a building, hitting a mailbox and colliding with another moving vehicle. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. You can also increase the deductible to get cheaper collision coverage.

Comprehensive insurance

This pays for damage OTHER than collision with another vehicle or object. A deductible will apply and the remainder of the damage will be paid by comprehensive coverage.

Comprehensive can pay for things like damage from a tornado or hurricane, damage from flooding and a broken windshield. The highest amount a car insurance company will pay at claim time is the ACV or actual cash value, so if it’s not worth much more than your deductible it’s not worth carrying full coverage.

Med pay and Personal Injury Protection (PIP)

Coverage for medical payments and/or PIP pay for immediate expenses for nursing services, pain medications, EMT expenses, rehabilitation expenses and ambulance fees. They are used in conjunction with a health insurance program or if you are not covered by health insurance. Coverage applies to all vehicle occupants in addition to getting struck while a pedestrian. Personal Injury Protection is not universally available but it provides additional coverages not offered by medical payments coverage

Uninsured/Underinsured Motorist (UM/UIM)

Your UM/UIM coverage gives you protection from other motorists when they do not carry enough liability coverage. Covered claims include hospital bills for your injuries as well as damage to your Hyundai Veloster.

Since many drivers only purchase the least amount of liability that is required, their liability coverage can quickly be exhausted. This is the reason having UM/UIM coverage is important protection for you and your family. Most of the time these coverages are set the same as your liablity limits.

Liability coverages

This protects you from damages or injuries you inflict on a person or their property in an accident. It protects YOU against other people’s claims, and does not provide coverage for damage sustained by your vehicle in an accident.

It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. You commonly see liability limits of 50/100/50 that translate to a $50,000 limit per person for injuries, $100,000 for the entire accident, and a total limit of $50,000 for damage to vehicles and property. Some companies may use one limit called combined single limit (CSL) which limits claims to one amount and claims can be made without the split limit restrictions.

Liability coverage pays for things such as repair costs for stationary objects, pain and suffering, court costs and funeral expenses. How much liability coverage do you need? That is up to you, but consider buying higher limits if possible.

Better coverage you can count on

We’ve covered quite a bit of information on how to lower your 2012 Hyundai Veloster insurance rates. The key concept to understand is the more providers you compare, the higher the chance of saving money. You may even discover the biggest savings come from a small local company.

As you go through the steps to switch your coverage, it’s not a good idea to buy less coverage just to save a little money. There are many occasions where someone sacrificed liability coverage limits only to regret that the savings was not a smart move. The proper strategy is to find the BEST coverage at the best price while still protecting your assets.

Drivers leave their current company for a variety of reasons including questionable increases in premium, high rates after DUI convictions, policy non-renewal or even delays in responding to claim requests. Regardless of your reason, switching companies is pretty simple and you could end up saving a buck or two.

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