Car insurance is a necessity if you’re going to spend any time at all behind the wheel, but there are a lot of different options when it comes to insuring your new Hyundai. No matter what kind of Hyundai vehicle you have, it will need protection that’s both legally compliant and beneficial in the event you ever have to file a claim. Learn everything you need to know about Hyundai insurance and discover how you can get your Hyundai vehicle insured.
Factors To Consider
The exact details of your insurance costs and coverage will vary based on a number of factors. First and foremost, you’ll need to consider your state’s minimum requirements regarding how much insurance you need. Rates are different in every state, so your geographical location can also play a major role in your premiums.
Among the more curious aspects of insurance coverage are some of the factors that can actually affect how much you’re paying. Insurance companies have discovered that most people who get into accidents are unmarried, so single drivers tend to pay more than those who are married. Additionally, there are age and gender gaps in premiums, with women paying more around age 45, men paying more from 15 to 19, and drivers in their 30s not really having gender-based differences in premium costs at all.
Some factors can be manipulated to lower your premiums if you want the cheapest coverage possible, such as lowering your coverage limits to the state’s minimum requirements. Additionally, you can increase your deductible and reduce how much you drive to bring your premiums down.
When insuring a Hyundai, the model that you have can play a major role. Contrary to what some may assume, the more expensive models aren’t necessarily more expensive to insure. Insurance companies consider more than a model’s MSRP when setting premiums, including factors like how likely the vehicle is to get stolen, the car’s safety ratings, and the model’s history of accidents.
Specifically, the Tucson tends to be the cheapest Hyundai model to insure, while the Venue is often the most expensive. The Sonata, Ioniq, and Palisade are also on the higher side of the spectrum, while the Kona, Santa Fe, and Accent are typically less expensive. The Elantra and Veloster are often the automaker’s middle-ground vehicles when it comes to insurance premiums.
The Ioniq is particularly unique because it’s available as either a hybrid or an electric vehicle, but there is no fully gas-powered option. EVs and hybrid cars are generally more expensive to insure due to their higher repair costs. Despite this, however, the Ioniq is not the most expensive vehicle to insure for a 30-year-old. For a teenager, however, it is the most expensive by far.
Insurance companies ultimately decide how much premiums are, so the insurance company you opt for can alter your costs more than any of the other relevant factors. Assuming that the driver is in their 30s with a clean driving record, Progressive may charge more than double what Farm Bureau would for the same kind of Hyundai insurance.
The actual cheapest insurance company depends on the details surrounding the insured driver. For example, a Veloster driver who’s 30 years of age will find the best deal with State Farm. They raise prices quite a bit for 18-year-old drivers, however, to the point where it’s no longer the best deal. Teenage drivers will find the most affordable option with Farm Bureau.
Hyundai Power Protect
One of the benefits of buying a Hyundai is the option for Hyundai Power Protect, which is a specially customized insurance policy designed specifically for Hyundai vehicles. This particular option is set up through Liberty Mutual and its partnership with Hyundai. The coverage comes with quite a few handy features that you may be interested in.
If your car ever gets totaled, this policy will let you get the money for a newer model with the Better Car Replacement feature. The model can only be a year newer than the one that was totaled, and it must necessarily be the same model. There’s no way to increase the trim level or anything with this upgrade. Plus, eligibility varies by state.
With this policy, you can also enjoy a Violation-Free Discount. Three years of violation-free driving will earn you a pretty serious discount. If that violation-free driving record extends to five years, the discount increases. Liberty Mutual also offers discounts on booking package policies. The Multi-Policy Discount is available when you get this insurance for your Hyundai in addition to Liberty Mutual insurance for your home.
Hyundai Power Protect comes with 24-hour roadside assistance as well. If your Hyundai ever breaks down, this service will come to you and get you moving again whether you need a jump start or a tow. Of course, the ultimate benefit of this particular kind of Hyundai insurance is that it tends to be cheaper than other insurance options that offer the same level of coverage.
Buying a new Hyundai vehicle automatically comes with a variety of services marketed as Hyundai Assurance. Among the benefits of this program, you can enjoy warranty coverage standard on every new Hyundai model, which includes a 10-year/100,000-mile powertrain limited warranty and a five-year/60,000-mile new vehicle limited warranty. You’ll also get 24-hour roadside assistance included for five years and a 12-month/12,000-mile replacement parts and accessories limited warranty.
Complimentary maintenance is included, as is Bluelink tech, which makes the driving experience both easier and safer. Complimentary map updates are a part of Hyundai Assurance, too.
This all matters quite a bit for your insurance because getting regular maintenance and taking good care of your vehicle can drive down your premiums a bit. Couple that with the fact that Hyundais are involved in fewer accidents and thefts than many other vehicle makes, and it should be no surprise that they remain one of the most affordable cars to insure on the market.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.