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Key Takeaways

  • Older models of Hyundai are less expensive to repair or replace than newer Hyundai. Since they are not leased or financed, insurance costs are lower.
  • While the 2000and 2004 models are the cheapest, the 2018 and 2022 models are the most expensive to insure.

Hyundai Insurance- Introduction

The make and model of the car is a major non-driving factor that determines the insurance rates. Most models from Hyundai tend to have moderate insurance rates. It is the cheapest for Santa Fe Sport at $1681 on average for newer models.  While Allstate, Nationwide, and Progressive are on the costlier front, Farm Bureau, and Erie offer affordable rates for Hyundai models.

History of Hyundai

Hyundai means modern times, a term that could impart hope to the people of South Korea soon after liberation in 1945. The journey of Hyundai began with Hyundai Engineering and Construction Company followed by Hyundai Motor Company in 1967.

It was after the success of Cortina, assembled first in the plant, in association with Ford Motor Company, did they assemble their own Pony in 1975. Their international expansion began with the export of Pony. They entered the American market with Pony Excel.

In 2000, Hyundai gained a massive following in the USA with its first SUV, Sana Fe, named after a city in New Mexico. This was followed by Tucson, i30, and the hybrid electric Sonata in the US in 2011. Since 2010, Hyundai has been exploring the environment-friendly sector with their IONIQ, Kona Electric, and NEXO.

Hyundai Current Market Statistics

A major player in the global market Hyundai holds 5.3% of the global automotive market share in 2021, after Toyota and Volkswagen. They account for 41.5% of total sales in South Korea, their home ground, in 2021.

According to a report from 2020, Hyundai sold most vehicles in the North American region. With 810,000 vehicles sold in North America alone and 2.96 million vehicles globally.

How much does Hyundai insurance cost?

The cost of insurance for Hyundai models differs with the make and company that you choose to insure with. Comparing ten different Hyundai models, the average annual rate is $1999. Observing the rates according to the company, the average rates are approximately $2009, Farm Bureau being the cheapest and Nationwide offering the highest rates. The average monthly rate of a Hyundai car will be $159.

Hyundai Insurance Cost by Model

The make and model of the car is a determining factor in the case of insurance rates. Hyundai Venue is the most expensive to insure while Kona and Tucson are the cheapest choices. However, the average rates range between $1720 and $2330.

Model Average Annual Rate
Venue $2329
Ioniq $2265
Palisade $2103
Sonata $2077
Veloster $2013
Elantra $1993
Accent $1878
Santa Fe $1833
Kona $1773
Tucson $1723

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Hyundai Insurance Cost by Company

Many of the prominent insurance carriers provide affordable insurance rates for different Hyundai models. The average rates across the providers range between $1300 and $2870.

Company Average Annual Rate
Nationwide $2862
Progressive $2859
Allstate $2078
USAA $1719
State Farm $1337
Farm Bureau $1331

Monthly and Yearly Insurance Costs of Hyundai Models

The maximum monthly insurance rate for a Hyundai model is $200. Thus, Hyundai Venue is the costliest to insure, while Tucson is the cheapest with an average monthly rate of $147. The annual premium rate is anywhere between $1700 and $2400.

Model Monthly Premium Rate Annual Premium Rate
Venue $200 $2329
Ioniq $194 $2265
Palisade $181 $2103
Sonata $179 $2077
Veloster $173 $2013
Elantra $172 $1993
Accent $161 $1878
Santa Fe $158 $1833
Kona $153 $1772
Tucson $147 $1723

Average Annual Minimum and Full Coverage Rates by Company

Apart from the location, and the model of your car, the average insurance rates can vary according to the insurance company as well. Apart from USAA which covers active military members, Erie, and Amica, provide affordable minimum and full coverage rates starting from $373 and $1303 respectively.

Company Minimum Coverage Rate Full Coverage Rate
State Farm $546 $1501
Amica $373 $1303
Erie $436 $1280
USAA $353 $1096

Hyundai Insurance Rates by Model, Year, and Age

The non-driving factors like model of the car and the age of the driver have a major influence on the insurance premium rates. The cheapest model from Hyundai to insure for an eighteen-year-old is Tucson. Hyundai Accent, Tucson, and Elantra are cheap options for a thirty-year old driver.

Hyundai Accent

The average annual rate for Hyundai Accent, the cheapest model from Hyundai is $5876 for an eighteen-year-old driver and $1878 for a thirty-year-old driver.

Year Annual Rate for 18-year-Old Annual Rate for 30-year-old
2021 $6275 $2014
2020 $6154 $1956
2019 $5948 $1895
2018 $5536 $1778
2017 $5469 $1747

Hyundai Elantra

The average rate to insure Hyundai Elantra for a thirty-year-old driver is $1993 and $6210 for an eighteen-year-old.

Year Annual Rate for 18-year-Old Annual Rate for 30-year-old
2021 $6593 $2128
2020 $6394 $2058
2019 $6319 $1986
2018 $5989 $1918
2017 $5906 $1786

Hyundai Ioniq

Hyundai Ioniq, their electric model, is one of the costliest models to insure. It will cost $1300 and $2143 for a thirty and eighteen-year-old driver respectively.

Year Annual Rate for 18-year-Old Annual Rate for 30-year-old
2021 $7280 $2396
2020 $11,048 $3086
2019 $6196 $1997
2018 $6085 $1947
2017 $5967 $1899

Hyundai Kona

A teen driver will have to pay $5452 on average while an older driver will have to pay $1772 to insure their Kona.

Year Annual Rate for 18-year-Old Annual Rate for 30-year-old
2021 $5633 $1913
2020 $5399 $1827
2019 $5274 $1789
2018 $5482 $1840
2017 $5427 $1833

Hyundai Palisade

Being the largest SUV, Hyundai Palisade is also an expensive car to insure. The average insurance rate for an older driver is $2103 and $6169 for an 18-year-old.

Year Annual Rate for 18-year-Old Annual Rate for 30-year-old
2021 $5486 $1923
2020 $6042 $2015
2019 $6484 $2225
2018 $6397 $2175
2017 $6437 $2177

Hyundai Santa Fe

The average rate to insure Hyundai Santa Fe is $1833 for a thirty-year-old and $5427 for an eighteen-year-old driver.

Year Annual Rate for 18-year-Old Annual Rate for 30-year-old
2021 $5633 $1913
2020 $5399 $1827
2019 $5274 $1789
2018 $5482 $1840
2017 $5350 $1795

Hyundai Sonata

Hyundai Sonata is the most expensive sedan to insure. It costs around $2077 on average to insure a thirty-year-old driver.

Year Annual Rate for 18-year-Old Annual Rate for 30-year-old
2021 $6926 $2232
2020 $6639 $2136
2019 $6406 $2066
2018 $6330 $2030
2017 $5983 $1919

Hyundai Tucson

Hyundai Tucson is the cheapest to insure for an eighteen-year-old as the average annual rate is $5261.

Year Annual Rate for 18-year-Old Annual Rate for 30-year-old
2021 $5466 $1791
2020 $5384 $1765
2019 $5255 $1728
2018 $5139 $1678
2017 $5058 $1655

Hyundai Veloster

The average rate for an eighteen-year-old driver is thrice more expensive than it is for a thirty-year-old.

Year Annual Rate for 18-year-Old Annual Rate for 30-year-old
2021 $6914 $2275
2020 $6875 $2276
2019 $6681 $2217
2018 $5139 $1673
2017 $4996 $1623

Hyundai Venue

The average rate to insure Hyundai Venue is $2329 making it the most affordable SUV from Hyundai to insure.

Year Annual Rate for 18-year-Old Annual Rate for 30-year-old
2021 $9700 $2709
2020 $10,078 $2757
2019 $6522 $2143
2018 $6195 $2028
2017 $6207 $2009

Cheapest Insurance Companies for Different Hyundai Models

Apart from USAA which offers insurance premiums to active military members, Amica, and Erie for most of the models, offer cheap insurance rates.  The cheapest provider to insure Hyundai Elantra, Sonata and Ioniq is Amica. Erie is the cheapest for Santa Fe.

Here is a list of providers offering the best minimum and full coverage according to the models.

Hyundai Elantra

Company Average Monthly Premium for Minimum Coverage Average Monthly Premium for Full Coverage
State Farm $546 $1461
Amica $373 $1303
Erie $436 $1280
USAA $353 $1096

Hyundai Ioniq

Company Average Monthly Premium for Minimum Coverage Average Monthly Premium for Full Coverage
State Farm $473 $1491
Amica $373 $1397
Erie $436 $1532
USAA $367 $1243

Hyundai Santa Fe

Company Average Monthly Premium for Minimum Coverage Average Monthly Premium for Full Coverage
State Farm $502 $1412
Amica $393 $1202
Erie $364 $1185
USAA $352 $1098

Hyundai Sonata

Company Average Monthly Premium for Minimum Coverage Average Monthly Premium for Full Coverage
State Farm $511 $1511
Amica $373 $1398
Erie $382 $1425
USAA $356 $1149

Hyundai Tucson

Company Average Monthly Premium for Minimum Coverage Average Monthly Premium for Full Coverage
State Farm $473 $1330
Amica $402 $1195
Erie $381 $1284
USAA $351 $1076

Hyundai Car Insurance Rates by State

Location is a major non-driving factor in determining insurance rates. As far as Hyundai models are considered, the highest premiums are paid at Montana and Delaware while New Mexico is the cheapest.

State Average Annual Rate State Average Annual Rate
Alabama $3157 Nebraska $1793
Arizona $2134 Nevada $3056
Arkansas $2836 New Hampshire $1865
California $2544 New Jersey $3689
Colorado $2604 New Mexico $1617
Connecticut $3251 New York $3842
Delaware $4191 North Carolina $2755
Florida $2572 North Dakota $2658
Georgia $3194 Ohio $2321
Idaho $1621 Oklahoma $2031
Illinois $2240 Oregon $2582
Indiana $2200 Pennsylvania $2626
Iowa $1637 Rhode Island $2611
Kansas $2390 South Carolina $4092
Kentucky $2272 South Dakota $1961
Louisiana $3498 Tennessee $2525
Maine $1945 Texas $2706
Maryland $3255 Utah $2112
Massachusetts $2453 Vermont $2928
Michigan $2437 Virginia $2488
Minnesota $ 1648 Washington, D.C. $2526
Mississippi $2362 West Virginia $2453
Missouri $2515 Wisconsin $2394
Montana $5412 Wyoming $1698

What does minimum and full coverage mean for your Hyundai?

Considering the various makes and models of Hyundai available in the market, the annual average insurance rate for minimum coverage will be $1632 and $2304 for full coverage. Let us glance at what the different coverage means to the Hyundai models.

Minimum Coverage

Minimum coverage is mandatory in most states and it includes the following coverages.

Coverage What it offers
Bodily Injury Liability This will cover the damage associated with the injuries caused to a third party.
Property Damage Liability The expense of the damages and the repair you are accountable for in an accident.
Uninsured and underinsured motorist coverage This proves to be useful in an accident involving an uninsured motorist.
Personal Injury Protection If you live in a no-fault state, this might come in handy to pay your medical expenses in a collision.

Full Coverage

Though this is not mandatory, having full coverage will save you from a sudden financial crisis during an accident. The two kinds that are included in the full coverage are as follows.

Coverage What it offers
Comprehensive Coverage This covers the expenses of repair from accidents regardless of who is at fault.
Collision Coverage This will cover the expense of repair or replacement for damage caused by fire, weather, vandalism, or even theft.

Other Car Insurance Coverage for Hyundai

The additional coverage available for any model of Hyundai can be considered as it will offer better financial protection during unprecedented times.

Coverage What it offers
GAP Insurance In the case of a damaged or stolen car, this can pay the outstanding amount.
OEM Replacement Parts When under repair after an accident, this will ensure that the replacement is done with original parts.
Roadside Assistance Coverage An optional option by many insurance providers, this will assist you with towing, or battery replacement in an emergency.
New Car Replacement Coverage Recent models which are insured under this are eligible for the payment of a new car if your car is stolen or totaled within a timeframe.

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What impacts Hyundai insurance costs?

Model and Trim Levels

Choosing a Hyundai sedan over SUV will definitely lower the cost of your insurance premium. However, the year of manufacture, and the different trim levels within the same model can all impact the premium rates.

For example, one can opt for the towing and labor coverage in Hyundai Elantra SE while it is apt to opt for new car replacement insurance for the finest trim offered in the range.

 

Insurance Company

The premium rates vary with the company and the discounts they offer are based on different driving and non-driving factors. It is wise to do your research by comparing quotes from different insurance providers in your locality and choose from what suits you and your car the best.

   

Age and Driving Record

Younger drivers are generally categorized under the high-risk category; hence the insurance premium rates tend to be higher than older drivers.  Having a clean driving record is detrimental to keeping the premiums from spiking. Speeding tickets, DUIs, and at-fault accidents can all categorize you as a high-risk driver. Here are the average insurance premium rates based on your driving record.

Hyundai Annual Insurance Cost based on Driving Record

Age Speeding Ticket Other Serious Offence Clean Record
18-20 $2232 $3003 $2657
21-24 $2549 $2910 $2217
25-34 $2288 $2406 $1809
35-44 $2105 $2132 $1667
45-54 $1876 $1923 $1613
55-64 $1810 $1620 $1444
65+ $1895 $2519 $1680

Location

Your place of residence is a major non-driving factor in determining your insurance premium rates. Every state will have pre-determined rules and rates which will depend on the population density, the percentage of thefts, extreme weather events, and accidents in their respective cities.

Is Hyundai insurance expensive?

Insuring a Hyundai model is not very expensive. The average rate to insure a Hyundai car is $1999 annually. A comprehensive look at its contemporaries, the popular insurance brands, and the cheapest and the most expensive models will give a clear idea of the rates a Hyundai owner will have to pay to insure his car.

Hyundai Car Insurance Cost vs. Popular Automotive Brands

Automotive Brand Insurance Cost Difference
Hyundai $1999 ---
Acura $1764 $235
Audi $2079 $80
BMW $2105 $106
Cadillac $1657 $342
Chevrolet $1544 $455
Dodge $2014 $15
Ford $1544 $455
Genesis $1834 $165
GMC $1642 $357
Honda $1460 $539
Infiniti $1929 $70
Jaguar $1965 $34
Jeep $1677 $322
Kia $1517 $482
Lexus $1818 $181
Lincoln $1712 $287
Mazda $1345 $654
Mercedez Benz $2118 $119
Mitsubishi $1618 $385
Nissan $1614 $385
Subaru $1458 $541
Tesla $1968 $31
Toyota $1546 $453
Volkswagen $1486 $513
Volvo $1660 $339

Cheapest Hyundai Models to Insure

Model Type Average Annual Rate
Hyundai Sonata Mid-size Car $2077
Hyundai Kona Small SUV $1772
Hyundai Tucson Small SUV $1723
Hyundai Palisade Mid-size SUV $2103

Most Expensive Hyundai Models to Insure

Model Type Average Annual Rate
Hyundai Nexo Small SUV $1736
Hyundai Venue Mid-size Car $2329
Hyundai Elantra Hatchback $1999
Hyundai Ioniq Hatchback $2265

How to get Hyundai Insurance with Way.com

It is advisable to do your research before zeroing in on your insurance provider. Comparing the quotes according to your needs might be time-consuming but you’ll be rewarded with better coverage at a lower price.

Way.com gives you a head start with the analysis of the best car insurance companies nationally, based on criteria that will surely influence your insurance coverage experience, financial strength, customer service, protection, and price.

Auto Insurance Data Methodology

The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.

Quotes are typically based on a full coverage policy average unless otherwise noted within the content.

These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com

Frequently Asked Questions

Are Hyundai cars more expensive to insure?

Insuring a Hyundai model is not expensive. The average rate to insure a Hyundai car is $1999 annually. The rates can vary with the make and model.

How much does it cost to insure a 2022 Hyundai Elantra?

A full coverage insurance policy for a 2022 Hyundai Elantra costs an average of $4,322 per year. With the average yearly cost of car insurance in the United States being $1,674, Elantra is over $2,642 more expensive than the average person's auto insurance.

How do I check my Hyundai car insurance?

One can check the car insurance quotes online or through the agents of different providers.

What is cashless motor insurance?

If you opt for cashless car insurance, then one does not have to pay for the repairs from his own pocket. The insurance companies in this case have tie-ups with specialized service stations to repair your car.

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