Hyundai Car Insurance: Average Rates, Cheapest Companies, and How to Save

Hyundai Motor America is the third-largest automaker in the world and a popular option for drivers thanks to its affordable pricing and outstanding warranty. Plus, the Hyundai Click to Buy Program makes it easy to purchase a new vehicle, and you can even choose from a variety of cars, including hybrid and electric vehicles.

But Hyundai drivers have had a harder time finding affordable auto insurance due to the increase in thefts in recent years. Our research found that Hyundais come with an average monthly auto insurance rate of $145, which is more than you’ll pay for similar vehicles.

Fortunately, many factors influence the cost of car insurance beyond just your vehicle. Let’s look at how different factors affect insurance costs and how Hyundai owners can still find cheap car insurance.

Key Takeaways:

• The average Hyundai vehicle costs around $115 per month for state-minimum liability insurance.
• Increases in theft rates have made Hyundais more expensive to insure than other similar vehicles.
• The Hyundai IONIQ 5 and IONIQ 6 are the brand’s most expensive models to insure.

In This Article:

• Average Hyundai Car Insurance Costs
• Why Hyundai Cars Cost More to Insure
• Cheapest Hyundai Car Insurance Companies
• Hyundai Insurance Rates by Model
• Best Hyundai Insurance Companies
• Hyundai Insurance Rate Breakdowns
• How to Get Cheaper Hyundai Insurance
• Frequently Asked Questions

How Much Does It Cost to Insure a Hyundai?

The average monthly premium for a Hyundai is $145, which is higher than the average cost for other vehicles, according to our data. But average rates can be heavily influenced by a number of factors — most importantly, the type of policy you buy.

With that in mind, let’s look at Hyundai’s average monthly rates for liability and full-coverage insurance policies, according to Compare.com data.

As a Hyundai owner, you can expect to pay around $115 per month for liability coverage and $204 per month for full-coverage car insurance. But your exact rates can vary by several factors, including your vehicle’s year, make, and model, your age, your credit history, your driving record, and more.

Why are Hyundais more expensive to insure?

Law enforcement agencies across the U.S. have reported that theft rates on Hyundai and Kia vehicles have increased substantially since 2021. This spike in theft has made certain Hyundai and Kia model years more expensive to insure — and some owners have even struggled to find coverage at all.

Older Hyundai models don’t have standard engine immobilizers, an anti-theft device that makes it harder to steal the vehicle. Recent videos showing how to steal these cars went viral on social media — specifically TikTok — prompting a sharp increase in thefts.

In 2023, thieves stole the Hyundai Elantra more than 48,000 times and the Hyundai Sonata more than 43,000 times, according to a recent CNN report. From January through June 2023, the theft rate of Hyundai vehicles was nearly seven times higher than other vehicle makes, according to the Insurance Institute for Highway Safety (IIHS).

As a result, Progressive and State Farm stopped issuing new policies for certain older Hyundai models. It’s unclear whether insurance rates for Hyundais have begun to stabilize, but both companies have taken steps to fix the problem.

If you have a model that’s vulnerable to theft, both automakers offer a software update at no additional cost. You’ll need to provide your VIN and contact information to Hyundai to see if your vehicle is eligible.

The Cheapest Car Insurance Companies for Hyundais in 2024

Though the average car insurance rate for Hyundais is higher than normal, you can still find ways to save — especially if you find the right company for your unique profile. Let’s take a look at which companies offer the cheapest car insurance for Hyundais, according to Compare.com data.

Safeco offers the cheapest average insurance rates, with an average monthly premium of $81, based on our research. But just because the companies shown here are the cheapest on average doesn’t mean they’re the most affordable option for everyone.

That’s why it’s important to compare quotes from several different insurance companies. After all, certain insurance companies may offer better rates and terms to drivers in different demographics.

Hyundai Insurance Rates by Model

Your car’s model also affects your insurance premiums, especially since certain Hyundai models are easier to steal than others. The following table outlines what you can expect to pay for different vehicle models and the cheapest average insurer for each, according to our data.

The Sante Fe is the cheapest Hyundai model to insure, with an average monthly rate of $123, according to our research. On the other hand, the IONIQ 6 is the most expensive, with an average monthly rate of $186.

The Best Hyundai Insurance Companies of 2024

There’s no single best car insurance company since everyone has different profiles, insurance needs, and financial situations. We chose the following companies based on a combination of average rates for a Hyundai, available discounts, customer ratings and reviews, and coverages offered.

Let’s look at the best insurance companies for different types of drivers.

Best for safe drivers: Safeco

• Average premium: $81 per month
• Compare.com Rating: 4.59 out of 5 stars

Pros:

• Some of the cheapest rates available
• Provides accident forgiveness
• Diminishing deductibles available

Cons:

• Below-average J.D. Power ratings
• Must complete the quoting process with an insurance agent
• Received a D+ from CRASH for its collision repair process

Safeco is one of the best options for Hyundai drivers with a good driving history. If you go six months or more without a claim, Safeco will automatically send you a check for 2.5% of your policy premium. And if you haven’t filed any claims over the previous year, your deductible will continue to decrease (up to a $500 maximum).

Plus, if you get in an accident, Safeco will waive the first one if you’ve stayed claims-free for a certain number of years.

Best for discounts: Farmers

• Average premium: $82 per month
• Compare.com Rating: 3.53 out of 5 stars

Pros:

• Wide variety of discounts
• Large network of experienced agents
• Highly ranked mobile app

Cons:

• Below-average J.D. Power rating
• No 24/7 customer support
• Numerous complaints on Trustpilot

Farmers is another cheap option for Hyundai drivers, largely because of the number of discounts the company offers. For example, current homeowners can save up to 10% by bundling their auto and homeowners insurance. You can also receive a discount for having safety features in your vehicle, paying your premiums in full, and staying accident-free for five years.

Best for high-risk drivers: SafeAuto

• Average premium: $84 per month
• Compare.com Rating: 4.15 out of 5 stars

Pros:

• Offers non-standard car insurance
• Multiple ways to pay
• Files SR-22 forms

Cons:

• Not available in all states
• Difficult-to-navigate website
• No longer offers new policies

In 2021, National General purchased SafeAuto, and the company is now part of Direct Auto. Like SafeAuto, Direct Auto offers non-standard insurance policies to high-risk drivers. You can benefit from low down payments, flexible payment options, and customizable plans.

The insurer can also help you obtain SR-22 insurance to prove you meet your state’s minimum insurance requirements.

Hyundai Insurance Rates by Age

Age is one of the most important factors insurers look at when evaluating you for auto insurance. Teens tend to pay the highest rates for car insurance due to their lack of experience and increased likelihood of getting into an accident. On the other hand, people in their retirement years tend to pay the lowest rates for car insurance, but rates go up slightly again around age 70.

The following table shows the average monthly rate that different age groups pay to insure their Hyundai, according to Compare.com data. It also shows which insurance company offers the cheapest average rates for drivers in different age groups.

We found that Hyundai drivers in their 50s and 60s pay the lowest rates for auto insurance, while teen drivers have the highest average monthly premium. SafeAuto is the cheapest insurer for drivers in almost every age group.

Hyundai Insurance Rates by Driving Record

Your driving record also significantly influences how much you pay for car insurance. People with a history of tickets, at-fault accidents, or other driving-related incidents are a higher risk to insure and will pay higher auto insurance rates because of it.

The following table outlines how much drivers pay on average for Hyundai car insurance based on their driving records, according to Compare.com data. It also shows the cheapest average insurer based on driving record.

Hyundai drivers with a clean record have the lowest average monthly premium and can often save by choosing Safeco. On the other hand, Hyundai owners with a DUI pay the highest rates on average, but they can still save by getting a policy through National General.

Hyundai Insurance Rates by State

Your location also affects how much you pay for auto insurance. If you live in an area with higher rates of vandalism and theft, you can expect to pay higher car insurance rates. But that also means you can save by choosing to live in a safer area or parking your vehicle in a secured garage.

The following table outlines the average monthly rate for Hyundai drivers in different states, according to our data.

On average, Hyundai owners in North Carolina, Hawaii, and New Hampshire pay the lowest rates for auto insurance. New Yorkers pay the most for car insurance for Hyundai models, with an average monthly rate of $230.

How to Get Cheaper Car Insurance for Your Hyundai

Hyundai drivers tend to pay more for car insurance, but you can still save with the following five strategies:

• Use safety features: Most insurers will offer you a discount for having certain safety features in your vehicle. If you’re in the process of buying a car and want to test-drive different vehicles, look for cars with anti-lock brakes or alarm systems. If you have a Hyundai model that’s vulnerable to theft, the company offers a free software update to help curb higher insurance costs.
• Bundle your insurance: Most insurance companies will give you a discount for bundling multiple policies. For example, you could save by bundling an auto, homeowners, and life insurance policy together. You may also receive a discount for insuring multiple vehicles.
• Choose a less expensive model: You can also save by choosing a less expensive Hyundai model, like a Sante Fe or a Tucson. And since most of the problems seem to be with older vehicles, you may save by purchasing a newer Hyundai.
• Raise your deductible: A deductible is the out-of-pocket expense you’ll pay when filing a claim. Increasing your deductible from $500 to $1,000 can help lower your auto insurance costs, but make sure you can afford the added expense if you need to file a claim.
• Compare quotes: Because so many different factors determine your insurance costs, it’s important to shop around before choosing an insurer. Comparing quotes from at least three different companies will help you find the best rates and terms for your situation.

Hyundai Auto Insurance FAQs

Here’s some additional information on how Hyundai drivers can find affordable auto insurance.

Are Hyundais expensive to insure?

Generally, yes. Hyundais have an average monthly premium of $145, according to Compare.com data — more expensive than insurance for similar makes and models. But Hyundai drivers can still save on car insurance by taking advantage of discounts and shopping around.

Why are insurance companies not covering Hyundai cars?

Certain Hyundai models don’t have a theft-protection mechanism called an immobilizer, making them much easier to steal. After thefts of Hyundais increased dramatically from 2021 to 2023, State Farm and Progressive announced they wouldn’t issue new policies for models in certain states.

Is it hard to insure a Hyundai?

Yes, it can be hard to insure a Hyundai, especially if you have a model that’s easy to steal. And if you qualify for auto insurance, you may pay higher rates just for owning certain Hyundai or Kia models.

Are insurance companies still not covering Hyundais?

In 2023, State Farm and Progressive decided to temporarily stop writing new policies on certain Hyundai models. But it’s unclear whether the companies have resumed offering car insurance for these vehicles.

Will Progressive insure a Hyundai?

Maybe. A Progressive spokesperson says the company has increased its rates and limited the sale of new policies for certain Hyundai models to account for the increased risk of theft.

Data Methodology:

Data scientists at Compare.com analyzed more than 50 million real-time auto insurance quotes from more than 75 partner insurers in order to compile the rates and statistics seen in this article. Compare.com’s auto insurance data includes coverage analysis and details on drivers’ vehicles, driving records, insurance histories, and demographic information.

All the rates listed in this article have been collected from a combination of real Compare.com quotes and external insurance rate data gathered in collaboration with Quadrant Information Services. Compare.com uses these observations to provide readers with insights into how auto insurance companies determine their premiums.

Sources:

1. CNN, “Hyundai and Kia models topped US auto theft rankings last year,” accessed August 26, 2024.
2. Highway Data Loss Institute, “Hyundai and Kia theft and vandalism losses,” accessed August 26, 2024.
3. CNN, “Some auto insurers are refusing to cover certain Hyundai and Kia models,” accessed August 26, 2024.
4. CBS News, “Hyundai and Kia car thefts fall sharply after software upgrade, study finds,” accessed August 26, 2024.
5. J.D. Power, “What Is A Theft Device Immobilizer?” Accessed August 26, 2024.
6. J.D. Power, “2024 U.S. Auto Insurance Study,” accessed August 26, 2024.
7. Chicago Tribune, “Allstate buys low-cost auto insurance provider SafeAuto for $300 million,” accessed August 26, 2024.
8. Office of Public Insurance Counsel, “How is My Car Insurance Rate Calculated?” Accessed August 26, 2024.