Insurance rates depend on various factors, including the driver's age and the car’s model year. A 16-year-old driving a Hyundai Elantra can expect to pay $7,446 per year to insure a 2022 model and $5,849 per year to insure a 2009 model. On the other hand, a 40-year-old driver pays significantly lower premiums, with an average cost of $1,641 per year to insure a 2022 model and $1,265 per year to insure a 2009 model.
MoneyGeek also ranked insurance providers to identify the best combination of affordability, quality of service and claims experience.
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Average Cost and Cheapest Companies for Insuring a Hyundai Elantra
Insuring a Hyundai Elantra costs an average of $1,457 per year. However, your choice of insurer can impact your rates. Based on our analysis, State Farm offers the cheapest car insurance for a Hyundai Elantra. It has an average rate of $1,116 per year for full coverage and $508 per year for minimum coverage. In contrast, Farmers is the most expensive option, with an average rate of $1,729 per year for full coverage and $825 per year for minimum coverage.
Is a Hyundai Elantra Expensive to Insure?
Insurance companies weigh several factors when calculating the insurance costs of a given Hyundai Elantra. In general, the Hyundai Elantra is neither cheap nor expensive to insure. Although it has a relatively low MSRP of $21,295, it has a higher-than-average theft rate, according to the latest data from the National Highway Traffic Safety Administration (NHTSA). Its high theft rate is one of the main reasons the vehicle isn't cheap to insure since it presents a higher risk to insurers.
Best Companies for Insuring a Hyundai Elantra
When looking for auto insurance, you should consider a company's customer satisfaction and claims experience ratings in addition to cost. According to our research, the following insurers provide the best car insurance for a Hyundai Elantra:
- State Farm: MoneyGeek score of 90 out of 100 ($1,116 per year)
- GEICO: MoneyGeek score of 89 out of 100 ($1,151 per year)
State Farm received high scores for both affordability and customer satisfaction, making it our top choice for Hyundai Elantra drivers as it provides reasonable rates paired with exceptional service.
MoneyGeek Top Pick: State Farm
Most affordable option for a Hyundai Elantra
Has a high customer satisfaction score
Few add-on coverages available
Has a low claims management score
State Farm is our top choice for Hyundai Elantra insurance, offering the cheapest rates in our comparison group and earning the second-highest customer satisfaction score. The company provides a small selection of add-on coverage options, including emergency road service coverage and car rental and travel expenses coverage.
If you experience car trouble on the road, State Farm's roadside assistance covers services like mechanical work, towing, lockout services, gas deliveries and tire changes. If your policy has this coverage, you can call State Farm's hotline or submit an online request when you need help.
If your Hyundai Elantra is in the shop for repairs following a covered accident, you can rent a car with the help of rental car and travel reimbursement coverage. If you’re more than 50 miles from home and your car is undriveable, this add-on will also help pay for food, lodging or travel costs.
MoneyGeek Runner-Up: GEICO
Offers affordable rates for a Hyundai Elantra
Has a high customer satisfaction score
Offers mechanical breakdown insurance (MBI)
Doesn’t offer gap insurance or original equipment manufacturer (OEM) coverage
Has a low claims handling score
GEICO is another excellent option for Hyundai Elantra drivers. The company has some of the most affordable rates and delivers great service. GEICO also offers many useful add-on coverages, including MBI.
This add-on covers repairs and replacement parts for your Hyundai Elantra with no limitations on the types of parts or repair facilities. This coverage is often a better deal and offers more extensive benefits than dealer warranties. However, it's only available for new cars under 15 months old and with less than 15,000 miles.
Car insurance rates can increase significantly after an at-fault accident, so if this is a concern, you may choose to opt for accident forgiveness coverage. Accident forgiveness prevents your rates from increasing following an at-fault accident. You may purchase this coverage for an additional fee, or GEICO may add it to your policy if you have gone at least five years without an accident.
Cost of Insuring a Hyundai Elantra by Model Year
The average cost of car insurance for a 2009 Hyundai Elantra is $1,265 a year, while it costs about $1,641 a year to insure a 2022 model. Due to their high market value, newer car models often have higher insurance costs than older ones.
The average cost of car insurance depends on your car insurance company. The cheapest company for a 2009 Hyundai Elantra is State Farm, which costs $946 per year. For a 2022 model, the cheapest option is GEICO at $1,285 per year.
Cost of Insuring a Hyundai Elantra for 16- to 25-Year-Olds
Teenagers and young adults typically face higher car insurance costs compared to older drivers. For example, insuring a Hyundai Elantra costs around $6,436 per year for a 16-year-old, while a 40-year-old only pays about $1,403 per year. The cost of car insurance for teens decreases as they age and tends to stabilize in their 20s.
Car insurance for teens is cheapest when you add them to a family plan as individual plans are significantly more expensive. In addition, teens are legally required to have a parent or guardian co-sign in order to purchase an individual policy.
For a 2022 Hyundai Elantra, the cheapest option for an individual plan for a 16-year-old driver is from State Farm, with an average premium of $4,454 per year. The most expensive company is Farmers at $10,526 per year. We recommend exploring your options to find the most affordable car insurance for young drivers, as some companies may offer lower rates and specific discounts.
How Does Location Affect the Cost of Hyundai Elantra Insurance?
One of the biggest factors influencing the cost of car insurance is location. As a result, car insurance rates and the cheapest insurer for a sample car vary by state. Idaho has the cheapest average rates, while Florida has the most expensive.
Frequently Asked Questions About Hyundai Elantra Insurance
MoneyGeek answered frequently asked questions regarding the cost and service of Hyundai Elantra car insurance companies to help drivers looking for the best option.
About Mark Fitzpatrick