Key Takeaways
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.
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.
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.
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.
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 |
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 |
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 |
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 |
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.
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 |
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, 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 |
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 |
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 |
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 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 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 |
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 |
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 |
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.
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
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 |
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 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. |
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. |
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. |
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.
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.
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.
| 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 |
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.
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.
| 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 |
| 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 |
| Model | Type | Average Annual Rate |
|---|---|---|
| Hyundai Nexo | Small SUV | $1736 |
| Hyundai Venue | Mid-size Car | $2329 |
| Hyundai Elantra | Hatchback | $1999 |
| Hyundai Ioniq | Hatchback | $2265 |
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.
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
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.
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.
One can check the car insurance quotes online or through the agents of different providers.
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.
Access your digital insurance card through the app. You no longer need to carry your physical insurance card with you.
Receive reminders before your renewal. Way.com will also send new quotes from up to 45 insurance companies with your renewal reminder.
Keep everyone on your policy up to date by sharing your insurance information.
Make changes to your policy right from the app (coming soon) and ask for expert advice.
For the best user experience, please download our Way app.
or
Free quotes from 200+ carriers in seconds