Hyundai Insurance

Do You Need Hyundai Car Insurance?

If so, we've got you covered.

Hyundai Insurance

Established in the 1960s in South Korea, the Hyundai brand has become increasingly popular over the years. After Hyundai was developed, it signed an agreement with Ford, and the very first model, Cortina, was released. It wasn’t until 1986 that Hyundai was able to get a car across American borders.

Today, Hyundai buyers are rewarded with 10-year warranties and a variety of makes and models to choose from. But if you really want to make sure your Hyundai lasts for years to come, it’s a good idea to purchase Hyundai car insurance

Local independent agents are familiar with the Hyundai brand, and can take your individual needs into account to find an insurance policy that works for you. An independent agent can compare multiple policies and quotes to make sure that you don’t overpay for insurance.

What Kind of Insurance Do You Need for Your Hyundai? 

Bodily injury liability: This coverage pays for medical expenses and lost wages that result from a car accident where you are at fault and the other driver or passengers involved get injured or are killed. 

Property damage liability: If you're driving your vehicle and you get in an accident with someone else's property, then property damage liability pays to repair or replace the structure or vehicle. 

Liability insurance is required in most states with a minimum coverage amount. It's likely that the minimum coverage will not be enough to cover you in the event of an accident. so it's important to work with your independent agent to make sure you have adequate coverage.

Many states also require this coverage: 

Medical payments/personal injury protection: If you or your passengers are injured in an at-fault accident, then medical payments (med pay) or personal injury protection (PIP) coverage pays for smaller necessary medical treatment. PIP insurance is available in "no-fault" states and a requirement in most. Other states that do not participate in PIP will have med pay insurance.

Uninsured and underinsured motorist coverage: Uninsured and underinsured motorist (UM/UIM) coverage pays for damage to your vehicle when the other party is at fault and does not have enough or any insurance. UM/UIM insurance is not always a required coverage, but it is essential to be adequately covered. 

Optional Coverage: 

Collision: While liability coverage will pay for the other person's injuries and vehicle damage, collision insurance pays for damage to your vehicle that results from an accident.

Comprehensive: Your Hyundai is at risk, even parked in your garage. Damage to your vehicle due to natural disasters, storms, and other incidents out of your control is covered with comprehensive insurance

Glass coverage: While most Hyundai window replacements shouldn't run you more than a couple hundred dollars, that price could jump up to more than $1,000. Glass coverage is an endorsement typically costing only a few extra dollars per year. 

Gap insurance: Financing or leasing your Hyundai calls for gap insurance. This insurance will pay the difference between your car's value and the outstanding amount owed on a loan or lease if you're in an accident where insurance deems your Hyundai a total loss. 

What Affects the Cost of Insurance for Your Hyundai?

Several factors go into calculating insurance premiums for a Hyundai. Younger drivers tend to pay higher rates due to lack of experience, and statistics show that they are more likely to be involved in an accident. Teen Hyundai drivers spend an average of $5,318 per year for insurance. The lowest average premium is $828 annually, including discounts. Those with multiple driving violations or accidents will pay higher premiums. A high-risk driver pays an average of $3,128 per year for Hyundai insurance. 

Average Cost of Hyundai Insurance by Model

The model of the vehicle you drive also affects your insurance rates. The rates below assume that the driver is a 40-year-old male with a clean driving record. The policies also represent a $500 comprehensive and collision deductible, UM/UIM coverage, and minimum liability limits. Rates are averaged across all 50 states. 

Average annual insurance premium for a new Hyundai by model
Hyundai Accent$1,358
Hyundai Elantra$1,372
Hyundai Genesis$1,664
Hyundai Kona$1,232
Hyundai Santa Fe$1,386
Hyundai Sonata$1,426
Hyundai Tucson$1,294
Hyundai Veracruz$1,308

The Safety of Your Hyundai

How likely you are to file a claim when you drive a specific type of car will be associated with safety features. Fortunately, Hyundai has good ratings for features that come standard in its vehicle offerings.

Several Hyundai models, like the Sonata and Palisade, have received five-out-of-five stars in overall crash test ratings from the National Highway Traffic Safety Administration. Several models, including the Elantra, Kona, and Tucson, have received Top Safety Rating picks from the Insurance Institute for Highway Safety. 

How Location Affects Your Hyundai Insurance

Living in certain states could earn you a lower car insurance premium, while your rates could be higher in other areas. Carriers will determine the pricing based on local crime rates, traffic patterns, and the number of claims filed in an area.

Average yearly auto insurance rates are the least expensive in these states:
North Carolina$834
Virginia$866
Maine$892
Idaho$978
Iowa$978
Average yearly auto insurance rates are most expensive in these states:
Florida$1,810
Rhode Island$1,928
Kentucky$1,972
Louisiana$2,142
Michigan$2,512

Average Cost to Insure a Hyundai

The average annual policy rate in the US for a Hyundai is $1,446. Your costs will vary according to the type of coverages you choose, your location, your age, and your driving history. 

Here's how Hyundai rates change for younger vs. older drivers:

Hyundai rates by age for full coverage with a $500 deductible
AgePremium
16$5,318
20$3,342
30$1,516
40$1,446
50$1,320
60$1,294

Top Independent Insurance Carriers That Insure the Hyundai

Having the right protection for your Hyundai is essential, and so is the company that provides that coverage. Your insurance company should be responsive to claims and endorsements. The US Independent Insurance Agent Satisfaction Study by J.D. Power gave these companies a trustworthy recommendation: 

  1. Auto-Owners Insurance
  2. Progressive
  3. Safeco
  4. Traveler

Finding the Right Hyundai Auto Insurance

If you aren’t sure what type of Hyundai car insurance you need for your vehicle, simply contact an independent agent in your local area. An independent agent can shop a variety of insurance companies, not just one, and can freely recommend an insurance package that fits your needs, but doesn’t break the bank. 

To get the information you need about Hyundai insurance, speak to an independent agent today.

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Consumer Report, IIHS, NHTSA