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The 2020 Hyundai Venue is the company’s second release of the subcompact SUV, which is the company’s smallest SUV in its SUV line. In addition, it is one of the most affordable SUVs on the market, with a starting price of less than $18,000. According to estimates, the Hyundai Venue car insurance rates will range between $150 and $170 per month.
This results in an annual insurance cost-to-base ratio of around 10%, which is much higher than the national average of 4% but not unreasonably expensive for a sport utility vehicle such as an SUV. It is intended for “urban adventurers” to purchase the Venue, and the higher risk associated with driving in cities may be one of the reasons insurance on the Venue is likely to be more expensive than insurance on comparable SUVs.
How do I compare insurance for the Venue?
There are a variety of factors that impact your insurance prices, including the features of your car. Some of the more notable ones are as follows:
- Body type. The Hyundai Venue is a subcompact crossover SUV that is less costly to insure than sedans, but more expensive to insure than trucks. It is also less expensive to insure than sedans.
- Fuel. Compared to comparable SUVs, the Ford Escape gets an estimated combined fuel efficiency of 33 mpg, which means you’ll save money on petrol expenses.
- Theft rates. According to data from the National Highway Traffic Safety Administration from November 2019, Hyundai SUVs have a low theft rate, which helps to keep insurance prices down.
- Maintenance. According to the RepairPal website, the average yearly maintenance expenditures in the Venue model of cousin, Santa Fe, have been about $515 as of November 2019. Small maintenance expenses may contribute to the preservation of low insurance premiums..
- Coverage. Maintaining a new location with both collision and comprehensive coverage is an option to consider.
- Warranty. Hyundai offers a 5-year, 60,000-mile warranty on the Venue, as well as a 10-year, 100,000-mile warranty on the Venue. Both guarantees include roadside assistance, which allows you to avoid having to pay for insurance coverage in the event of a breakdown.
- Manufacturer offer. There have been no official offers for the 2020 Hyundai Venue as of this writing, however Hyundai often gives deals for their most recent models that include 0% APR financing.
Does the Hyundai Venue qualify for discounts?
If your Hyundai Venue is equipped with the following characteristics, you will be able to save money on additional security measures.
- Anti Lock brake discount
- Antitheft discount
- Seatbelt pretensioners
- Passive restraint discount
- Airbag discount
How reliable is the Hyundai Venue?
In addition, because the Venue model has only been available on the market since 2019, there aren’t enough historical data points to draw on. Other Hyundai SUVs have received good safety and reliability ratings over an extended period of time. In addition, because the Venue model has only been available on the market since 2019, there aren’t enough historical data points to draw on. Other Hyundai SUVs have received good safety and dependability ratings for a lengthy period of time as well.
- Safety. The Hyundai Tucson, which was named the best compact SUV for 2019 by the Insurance Institute for Highway Safety, is a comparable small SUV (IIHS). In addition to obtaining a 5-star overall safety rating from the National Highway Traffic Safety Administration, the Santa Fe has earned the highest level of security recognition possible. The Santa Fe is another model that can be compared.
- Reliability. The Hyundai Santa Fe was awarded both the Most Dependable Award in 2016 and the Highest Quality Award in 2019, according to JD Power. It is reasonable to expect comparable grades from the Hyundai Venue, given the strong reliability ratings received by their previous SUV models.
- Recalls. Hyundai has issued a recall notice for certain 2017 Santa Fe vehicles, and it is possible that the vehicle may be recalled as a result.
The Hyundai Venue 2020 is the smallest and most affordable SUV available in the Hyundai lineup. Strong safety evaluations may be able to assist lower insurance premiums, however the rates will most likely start off with a high cost-to-base ratio.
Check out review and compare it to Hyundai Kona Insurance Rates.