Why Hyundai Cars Are So Expensive to Insure? The Hidden Cost of Insurance

Hyundai is one of the most popular car brands in the world, with millions of loyal customers who enjoy its reliability, affordability and style.

However, many Hyundai owners may be surprised to find out that their car insurance rates are higher than average, especially for some models.

What are the reasons behind this trend, and what can Hyundai owners do to lower their insurance costs?

In this article, we will explore some of the factors that affect Hyundai car insurance rates, and provide some tips on how to save money on your policy.

The Theft Factor

One of the main reasons why Hyundai cars are expensive to insure is their vulnerability to theft.

According to a report by the Highway Loss Data Institute (HLDI), some Hyundai models have higher than average theft claims, especially for model years 2011 to 2022.

This is because these models lack engine immobilizers, which are devices that prevent the car from starting without a key or a key fob.

Without this security feature, car thieves can easily break into the car, rip off the steering column housing, remove the ignition cylinder and use a USB cable to start the engine.

This problem has been exacerbated by the rise of social media, where some users have posted videos of themselves stealing Hyundai cars as a prank or a challenge.

These videos have gone viral, attracting millions of views and encouraging copycats to follow suit.

As a result, some major insurance providers have decided to drop some Hyundai models from their coverage, or charge higher premiums for them, due to the increased risk of theft.

Fortunately, Hyundai has taken steps to address this issue, and has installed engine immobilizers in all models produced since November 2021.

However, this does not help the owners of older models, who still face higher insurance rates.

If you own one of these models, you may want to consider adding some anti-theft devices to your car, such as alarms, steering wheel locks, GPS trackers or kill switches.

These devices can deter or prevent car thieves from targeting your vehicle, and may also qualify you for discounts from your insurance company.

The Safety Factor

Another reason why Hyundai cars are expensive to insure is their safety rating.

While Hyundai has improved its safety performance over the years, some of its models still have poor ratings from various agencies, such as the Insurance Institute for Highway Safety (IIHS) and the National Highway Traffic Safety Administration (NHTSA).

For example, the Hyundai Sonata, one of the most popular Hyundai models, has a marginal rating for the driver-side small overlap front crash test from the IIHS, and a four-star rating for the frontal crash test from the NHTSA.

These ratings indicate that the Sonata may not protect the driver and passengers well in the event of a collision, resulting in more severe injuries and higher medical claims.

To improve your safety and lower your insurance costs, you may want to opt for a Hyundai model that has a better safety rating, such as the Hyundai Elantra, which has a good rating for the driver-side small overlap front crash test from the IIHS, and a five-star rating for the frontal crash test from the NHTSA.

You may also want to look for models that have advanced safety features, such as blind spot monitoring, lane keep assist, forward collision warning, automatic emergency braking and adaptive cruise control.

These features can help you avoid or mitigate accidents, and may also earn you discounts from your insurance company.

The Demographic Factor

A third reason why Hyundai cars are expensive to insure is the demographic factor.

This refers to the characteristics of the typical Hyundai owner, such as age, gender, marital status, credit score, driving record and location.

These factors can affect your insurance rates, as they indicate your likelihood of filing a claim.

For example, younger drivers tend to pay more for car insurance, as they are more likely to be involved in accidents, violations and claims.

Similarly, drivers who live in urban areas, where there is more traffic, crime and vandalism, tend to pay more for car insurance, as they face higher risks of damage and theft.

According to some sources, Hyundai owners tend to be younger, less affluent and more urban than owners of other car brands .

This may explain why Hyundai cars are more expensive to insure, as they are associated with higher-risk drivers and locations.

To lower your insurance costs, you may want to improve your demographic profile, by maintaining a good driving record, improving your credit score, moving to a safer area or getting married.

These actions can demonstrate your responsibility and stability, and may also qualify you for discounts from your insurance company.

Conclusion

Hyundai cars are expensive to insure for various reasons, such as their theft factor, their safety factor and their demographic factor.

However, this does not mean that you have to pay exorbitant premiums for your Hyundai car insurance.

By choosing a safer model, adding anti-theft and safety devices, and improving your demographic profile, you can reduce your insurance costs and enjoy your Hyundai car without breaking the bank.

Additionally, you can shop around and compare quotes from different insurance companies, as they may have different rates and discounts for Hyundai cars.

By doing some research and taking some precautions, you can find the best Hyundai car insurance policy for your needs and budget.

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x