Finding cheap coverage for a Hyundai Santa Fe can be pretty simple, but it hinges on lots of different factors such as how old the vehicle is, the performance level of your vehicle, and your choice of physical damage deductibles. Drivers in Alaska pay around $711 per year for Santa Fe insurance, but that figure is a valuation calculated using a 50-year-old married female driver with full comprehensive and collision coverage and $250 deductibles.
Odds are that you are not 50 and maybe not even a female, possibly single instead of married, or maybe you have a teen driver on your policy that needs to be considered. Not everyone needs the same coverages, so the best way to find cheap insurance rates for your Hyundai is to just take the time to compare rates yourself. Quotes are free and you will be able to compare rates from the best auto insurance companies that insure vehicles in Alaska.
The trim level of your Santa Fe tends to have a direct impact on the cost of insurance, so the price you will pay to insure a Santa Fe GLS 2WD trim level will be $92 cheaper than the price to insure the higher-priced Santa Fe Limited 4WD model, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Santa Fe GLS 2WD||$142||$294||$256||$16||$76||$784||$65|
|Santa Fe GLS 4WD||$162||$294||$256||$16||$76||$804||$67|
|Santa Fe SE 2WD||$162||$294||$256||$16||$76||$804||$67|
|Santa Fe Limited 2WD||$162||$346||$256||$16||$76||$856||$71|
|Santa Fe SE 4WD||$162||$346||$256||$16||$76||$856||$71|
|Santa Fe Limited 4WD||$182||$346||$256||$16||$76||$876||$73|
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Table data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, multi-policy, claim-free, safe-driver, and multi-vehicle. Table data does not factor in specific Anchorage garaging location which can modify coverage prices greatly.
Trying to buy affordable car insurance is challenging, and deciding which company has the cheapest auto insurance rates for a Hyundai Santa Fe will take even more shopping around.
Every car insurance company has a proprietary formula for determining prices, so let’s take a look at the overall cheapest auto insurance companies in Alaska. It’s a good idea to be aware that Anchorage, AK auto insurance rates are impacted by many things which can substantially decrease or increase the cost of coverage. Simply having a birthday, marrying your spouse, or getting a ticket for careless driving can trigger price changes resulting in some rates now being more affordable than before.
Best Auto Insurance Prices for Your Hyundai
Umialik may offer some of the cheapest car insurance rates in Anchorage at around $901 annually. This is $642 less than the average premium paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO also are some of the lowest-priced Anchorage, AK car insurance companies.
As the example above demonstrates, if you currently have a policy with Progressive and switched to Umialik, you could see a yearly savings of roughly $309. Alaska drivers with GEICO could save as much as $1,004 a year, and Allstate insureds might realize rate reductions of up to $1,402 a year.
To see if your current coverage is too expensive, click here to get quotes or quote prices from the following companies.
Bear in mind that those premium estimates are averages for all types of insureds and vehicles and do not take into consideration a specific zip code for a Hyundai Santa Fe. So the car insurance company that has the lowest price for you may not even be in the list above. That emphasizes why you need to quote rates from as many companies as possible using your own personalized driver profile and vehicle information.
Types of discounts on Anchorage auto insurance rates
Insurers that offer quotes for a Hyundai Santa Fe may also provide discounts that can reduce rates by as much as 30% if you qualify for them. A list of auto insurance companies and the discounts they provide include:
- Farm Bureau has discounts for multi-policy, driver training, renewal discount, youthful driver, and 55 and retired.
- MetLife policyholders can earn discounts including multi-policy, good student, claim-free, accident-free, defensive driver, good driver
- Progressive may include discounts for good student, multi-policy, homeowner, online signing, multi-vehicle, continuous coverage, and online quote discount.
- AAA offers discounts for education and occupation, pay-in-full, good driver, multi-policy, and good student.
- American Family discounts include Steer into Savings, accident-free, multi-vehicle, defensive driver, and early bird.
- GEICO offers discounts including five-year accident-free, air bags, multi-policy, defensive driver, good student, and multi-vehicle.
- State Farm may offer discounts for passive restraint, defensive driving training, multiple policy, multiple autos, and Steer Clear safe driver discount.
The chart below illustrates the comparison of auto insurance rates with and without discounts applied to the policy rates. The rates are based on a female driver, a clean driving record, no claims, Alaska state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows insurance cost with no discounts. The second bar shows the rates with marriage, homeowner, accident-free, anti-theft, vehicle safety, and claim-free discounts applied. When drivers take advantage of discounts, theaverage amount saved on auto insurance for a Hyundai Santa Fe is 28% or $522.
Cost difference between full coverage and liability
Reducing premiums for auto insurance is important to the majority of vehicle owners, and one common way to reduce the cost of insurance for a Hyundai Santa Fe is to only pay for liability coverage. The information below visualizes the comparison of insurance costs with full physical damage coverage compared to only buying liability only. The premium estimates are based on no accidents or driving violations, $250 deductibles, single marital status, and no additional discounts are factored in.
If averaged out across all ages, physical damage insurance costs an extra $1,849 per year more than just buying liability only. That may make you wonder if paying for full coverage is a waste of money. There is no exact formula of when to exclude comprehensive and collision coverage on your policy, but there is a broad guideline. If the yearly cost of full coverage is 10% or more of replacement cost minus your deductible, then it could be time to drop full coverage.
The diagram below shows how different deductible levels can increase or decrease yearly insurance costs when researching cheap insurance for a Hyundai Santa Fe. The premium estimates are based on a single female driver, full physical damage coverage, and no discounts are applied to the premium.
A 30-year-old driver could save $298 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $448 by using a $1,000 deductible. Young drivers, like the age 20 example, could save as much as $658 annually by selecting a higher deductible.
If you do make the decision to raise your deductibles, it will be necessary to have enough funds in savings to pay the extra out-of-pocket expense that deters many people from opting for higher deductibles.