Hyundai Elantra Insurance - What You Need to Know

Affordable, stylish and delivering up to 31 miles per gallon, the Elantra is an excellent choice for a family car. With the handling of a sedan and plenty of cargo space, it’s an excellent merger between style and function. But before you sign the final papers for your Elantra, there are a few things you should know about potential insurance costs.

Average Insurance Cost

The national average for insurance is just below $100 a month for full coverage. The Elantra runs slightly above that average cost. Owners can expect to pay a higher premium for this import with an average insurance cost of nearly $140 a month. As always, this could be higher or lower depending on the driver's risk factors, such as driving record and auto theft in the driver's neighborhood. The key takeaway is that the Elantra is slightly more expensive to insure, when compared to similar vehicles in its class.

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The Imported Hyundai Elantra has Higher Repair Costs

Hyundai may have a solid warranty, but that doesn’t help cover the repairs in case of an accident. Insurance companies look closely at how expensive any car will be to repair after an accident. Because older Elantras were built in Korea and shipped to the United States, the cost for replacement parts can be high. This cost is passed back out to the owners through higher premiums. Starting with the 2011 model, Hyundai began manufacturing its Elantras in their Montegomery, Alabama plant, but as of yet this hasn't translated to cheaper repair costs.

Upscale Options on the Elantra Drive Insurance Costs

The Elantra has been completely redesigned, and the new version includes many desirable features. Full power accessories make adjustments easy and a trip computer helps you track performance. USB audio interface and satellite radio keep the drive entertaining while solar glass keeps everyone comfortable. While all these features certainly add to the overall luxury of the car, they also add to the cost of insurance due to the high cost of replacing or repairing them after an accident.

Poor Resale Value

If you buy a car and keep it for many years to come, then you probably aren’t too worried about the resale value. Your insurance company, however, is extremely concerned about the resale value. Cars that depreciate quickly and have high repair costs, like the Elantra, are more likely to be declared a total loss after an accident. Insurance companies prepare for this by charging you higher rates. When you purchase your Elantra, consider adding Gap insurance to the overall package to protect your own investment.

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Safety Features Keep Insurance Premiums Down in the Hyundai Elantra

Insurance companies look closely at the safety features of any car. They want to know that the vehicle can protect the occupants, because medical bills can become a huge liability for the insurance company. The Elantra is loaded with great safety features that help temper the high cost of insurance. In addition to traction and stability control, the car also has antilock disc brakes and active front head restrains. Front seat side-impact airbags complement the traditional dashboard airbags, while side curtain airbags protect the occupants in the rear of the car. The Elantra earned a top score of “Good” in crash tests for front impact, side impact and roof-strength tests.

The Elantra receives high marks for its overall performance and handling. It is important to note, however, that some of the money saved by buying this affordable car will be lost to higher insurance premiums. You can lower the premium by choosing a higher deductible and taking safe driver courses. Shopping around for different quotes may also reward you with a more affordable insurance premium.

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