Finding affordable coverage for a Hyundai Santa Fe in Colorado depends on a large number of rating criteria such as your financial responsibility, your credit status, and any prior driving offenses you have. Drivers in Colorado pay approximately $1,127 annually for Santa Fe insurance, but that is an estimation calculated using a 40-year-old married male driver with both comprehensive and collision coverage and $100 deductibles.
It’s more than likely you are not 40 and maybe not even a male, single instead of married, or maybe you have a teen driver on your policy that needs to be considered. Having what appears to be a very minor change in rating variables could end up in a significant change in the policy cost.
Not everyone needs the same coverages, so the way we recommend to find cheap insurance rates for your Hyundai is to just take the time to compare rates yourself. In just a couple of minutes you will be able to compare rates from the best companies that sell coverage in Colorado.
Vehicle trim level can impact the coverage cost, so the rate you will pay to insure a Santa Fe GLS 2WD will cost $160 less than the price to insure the higher-end Santa Fe Limited 4WD version, as shown below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Santa Fe GLS 2WD||$240||$502||$362||$22||$108||$1,234||$103|
|Santa Fe GLS 4WD||$276||$502||$362||$22||$108||$1,270||$106|
|Santa Fe SE 2WD||$276||$502||$362||$22||$108||$1,270||$106|
|Santa Fe Limited 2WD||$276||$592||$362||$22||$108||$1,360||$113|
|Santa Fe SE 4WD||$276||$592||$362||$22||$108||$1,360||$113|
|Santa Fe Limited 4WD||$310||$592||$362||$22||$108||$1,394||$116|
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Cost estimates assume married male driver age 40, no speeding tickets, no at-fault accidents, $100 deductibles, and Colorado minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Rate information does not factor in specific location information which can impact price quotes substantially.
Ending up with the highest-rated auto insurance company can be difficult considering how many choices there are in Colorado. The ranking information below may help you analyze which providers to look at when shopping your coverage around. These rankings include large nationwide companies, so companies that only write business in Colorado or surrounding areas are not included in this list.
Top 10 Large Car Insurance Companies in Denver Ranked by Customer Service
- State Farm
- The Hartford
- The General
- AAA Insurance
- American Family
The diagram below shows how choosing a deductible can influence insurance premiums when researching cheap insurance for a Hyundai Santa Fe. The rates are based on a single female driver, comprehensive and collision coverage, and no additional discounts are factored in.
The data above shows that a 50-year-old driver could pocket $388 a year by changing from a $100 deductible up to a $500 deductible, or save $586 by changing to a $1,000 deductible. Youthful drivers, like the Age 20 chart data, can save up to $990 or even more by choosing larger deductibles on their policy. When insureds make the decision to increase the deductibles on their policy, it will now be necessary to have enough funds in savings to be able to pay the extra out-of-pocket expense that is associated with using high deductibles.
Discount Denver insurance rates
Car insurance companies that provide policies for a Hyundai Santa Fe may have special discounts that could lower prices by 40% or more if you meet specific criteria. Companies and a summarized list of policyholder discounts are:
- The Hartford has discounts for good student, anti-theft, bundle, air bag, driver training, and defensive driver.
- American Family may offer discounts for air bags, bundled insurance, good driver, mySafetyValet, Steer into Savings, and multi-vehicle.
- Progressive may include discounts for multi-vehicle, multi-policy, online quote discount, homeowner, and online signing.
- Travelers has savings for good student, home ownership, multi-policy, IntelliDrive, and save driver.
- Farmers Insurance offers discounts for teen driver, multi-car, mature driver, electronic funds transfer, and switch companies.
- USAA offers discounts including military installation, driver training, vehicle storage, multi-policy, multi-vehicle, and defensive driver.
- Liberty Mutual policyholders can earn discounts including newly retired, hybrid vehicle, exclusive group savings, good student, newly married, new graduate, and preferred payment discount.
The example below illustrates the comparison of insurance costs with and without some available policy discounts. The premiums assume a female driver, a clean driving record, no at-fault accidents, Colorado state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles.
The first bar for each age group shows insurance cost with no discounts. The lower bar shows the rates with marriage, multiple policy, homeowner, vehicle safety, multiple vehicle, and accident-free discounts applied. When discounts are factored in, theaverage amount saved on car insurance for a Hyundai Santa Fe is 28% or $491.
Does full coverage make sense?
Finding the cheapest car insurance is important to the majority of drivers, and one common way to pay lower rates for insurance for a Hyundai Santa Fe is to not insure for full coverage. The information below illustrates the comparison of premium costs with and without full coverage. The rates are based on no accidents, no driving violations, $500 deductibles, marital status is single, and no additional discounts are factored in.
If the expense is averaged for all age categories, comp and collision coverage costs $2,082 per year more than buying just liability insurance. That is a significant amount which raises the question if buying full coverage is worth the expense. There isn’t a written rule for phasing out comprehensive and collision coverage on your policy, but there is a general convention. If the yearly cost of comp and collision coverage is 10% or more of replacement cost minus your deductible, then you may need to consider dropping full coverage.
For example, let’s pretend your vehicle’s settlement value is $8,500 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, you would only receive $7,500 after paying your policy deductible. If you are paying more than $750 a year for full coverage, then it might be time to consider dropping full coverage.