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Updated Aug. 30, 2024
Originally founded as a construction company in 1947 in South Korea, Hyundai Motors was later born in 1967. The company’s first car was the Cortina, released in 1968, and was built in cooperation with the Ford Motor Company. Hyundai now also owns more than a third of the Kia Corporation.
Hyundai did not start exporting cars to Canada and the United States until 1984 and 1986 respectively.
Hyundai operates the world's largest integrated automobile manufacturing facility in Ulsan, South Korea and produces about 1.6 million units per year. Hyundai cars are sold in 193 countries. As of 2022, Hyundai is the world's third-largest carmaker in terms of production, behind Toyota and Volkswagen. In June 2021, Hyundai Motor Group completed its acquisition of a controlling interest in the robotics firm, Boston Dynamics and now owns an 80% share of the company.
In 2022, the Hyundai Elantra was ranked as the 10th best most popular vehicle in Canada, according to driving.ca. However, in 2021, Hyundai Elantra was named winner of the 2021 North American Car of the Year award by the North American Car, Utility and Truck of the Year (NACTOY) automotive media jury.
With a price tag ranging from about $21,000 to $30,000 for the luxury model, the Elantra comes in several varieties: sedan, coupe or hatchback. You can also purchase it with six-speed manual or automatic transmission. The Elantra offers good fuel economy, high performance and an attractive design.
When seeking Hyundai auto insurance for an Elantra, it's helpful that this model is noted for its impressive safety features including six airbags, electronic stability control, and front and rear parking sensors.
The 2023 Hyundai Sonata starts at $30,924 for the base Preferred model. The Sport trim comes with the 1.6-litre turbo engine and costs $35,424. Shoppers can spend up to $250 on paint options to personalize their ride.
While not appearing on the top 10 ranking for 2023, the car the 2023 Hyundai Sonata is ranked no. 4 based on its score within the midsize car category, according to US News and World Report. Currently the Hyundai Sonata has a score of 7.9 out of 10. It gets 8.8L/100km for city driving, 6.4L/100km for highway driving and a combined average of 7.7L/100km.
Driving.ca says that the Hyundai Kona, which is ranked no. 9 as the top selling vehicle, is Canada’s best-selling subcompact utility vehicle. The Kona also ranks as Canada’s highest-volume Hyundai, Canada’s third-ranked SUV/crossover. The car also received 5 out of 5 stars from the National Highway Traffic Safety Administration.
Safety features include:
The assumptions used here to calculate car insurance costs for the Hyundai Elantra are based on a male driver living in Toronto, Ontario who has basic car insurance and a clean driving record. He also happens to drive 10,000 km per year. The exact vehicle is 2023 Elantra Essential 4DR.
The good news is that the older you get, the lower your premiums will get. Insurance is about risk and as you age and get experience behind the wheel, you become less of a risk to your provider. Note that an 18-year-old is paying $3,494 to drive the same car that a 60-year-old will pay $734 for insurance – a difference of a whopping 376%.
| Age | Annual Premium |
|---|---|
| 18 | $3,494 |
| 19 | $3,244 |
| 20 | $2,412 |
| 21 | $1,820 |
| 22 | $1,782 |
| 23 | $1,674 |
| 24 | $1,637 |
| 25 | $1,601 |
| 26 | $1,471 |
| 27 | $1,467 |
| 28 | $1,385 |
| 29 | $1,391 |
| 30 | $1,397 |
| 40 | $986 |
| 50 | $776 |
| 60 | $734 |
The probability of theft, collision and other factors is likely why the Hyundai Elantra’s rates are so expensive. If you look at the latest data from the Insurance Bureau of Canada (IBC), you’ll discover that new Elantra models score very high when it comes to claims filed for them.
The ratings across various coverages for 2021 Hyundai Elantra 4DR – the latest model for which there is data – are as follows:
Note: 100 is the average rating in each category, and the higher the number, the less favourable the rating.
| Model Year | Annual Premium |
|---|---|
| 2018 | $3,938 |
| 2019 | $3,558 |
| 2020 | $3,544 |
| 2021 | $3,362 |
| 2022 | $3,450 |
| 2023 | $3,494 |
Our model year data is based on an 18-year-old male driver in Toronto, Ontario, who has basic car insurance coverage and a clean driving record. He also happens to drive 10,000 km per year. The exact vehicle is Elantra Essential 4DR.
You may have noticed that rates for older Elantra models are higher than for newer ones. Generally, the newer cars have better safety features that can help prevent collision or theft.
The assumptions used here to calculate car insurance costs for the Hyundai Sonata Sport are based on a male driver living in Toronto, Ontario who has basic car insurance and a clean driving record. He also happens to drive 10,000 km per year. The exact vehicle is 2023 Hyundai Sport 1.6T 4DR.
| Age | Annual Premium |
|---|---|
| 18 | $3,675 |
| 19 | $2,412 |
| 20 | $2,543 |
| 21 | $1,923 |
| 22 | $1,881 |
| 23 | $1,770 |
| 24 | $1,729 |
| 25 | $1,690 |
| 26 | $1,554 |
| 27 | $1,550 |
| 28 | $1,464 |
| 29 | $1,471 |
| 30 | $1,477 |
| 40 | $1,004 |
| 50 | $806 |
| 60 | $762 |
If you look at the latest data from the Insurance Bureau of Canada (IBC), you’ll discover that new Sonata models score very high when it comes to claims filed for them.
The ratings across various coverages for 2020 Hyundai Sonata 4DR – the latest model for which there is data – are as follows:
Note: 100 is the average rating in each category, and the higher the number, the less favourable the rating.
| Model Year | Annual Premium |
|---|---|
| 2018 | $4,207 |
| 2019 | $4,338 |
| 2020 | $3,763 |
| 2021 | $3,769 |
| 2022 | $3,819 |
| 2023 | $3,672 |
Our model year data is based on an 18-year-old male driver in Toronto, Ontario, who has basic car insurance coverage and a clean driving record. He also happens to drive 10,000 km per year. The exact vehicle is Hyundai Sonata Sport 1.6T 4DR.
Sonata annual insurance rates are significantly higher than those of Kona and the Elantra. The car itself is on the expensive side comparatively speaking and would take more to repair or replace it in case of theft of collision.
The assumptions used here to calculate car insurance costs for the Hyundai Kona are based on a male driver living in Toronto, Ontario who has basic car insurance and a clean driving record. He also happens to drive 10,000 km per year. The exact vehicle is 2023 Elantra Essential 4DR.
Once again, younger drivers are paying more for insurance than their older, more experienced compatriots. An 18-year-old driver is paying an annual premium of $2,805 versus a 60-year-old driver who pays $633 per year – a percentage difference of 343%.
| Age | Annual Premium |
|---|---|
| 18 | $2,805 |
| 19 | $2,609 |
| 20 | $1,968 |
| 21 | $1,509 |
| 22 | $1,474 |
| 23 | $1,382 |
| 24 | $1,347 |
| 25 | $1,313 |
| 26 | $1,202 |
| 27 | $1,198 |
| 28 | $1,138 |
| 29 | $1,144 |
| 30 | $1,150 |
| 40 | $832 |
| 50 | $668 |
| 60 | $633 |
Annual insurance rates for the Kona are slightly lower than they are for the Elantra and Sonata. Those cars are more expensive options than the Kona and more expensive to replace and repair.
When looking at the Insurance Bureau of Canada (IBC), you’ll notice that collision, comprehensive and DCPD coverage is lower than average in most cases.
The ratings across various coverages for 2021 Hyundai Kona 4DR 2WD – the latest model for which there is data – are as follows:
Note: 100 is the average rating in each category, and the higher the number, the less favourable the rating.
| Model year | Annual Premium |
|---|---|
| 2018 | $3,028 |
| 2019 | $2,926 |
| 2020 | $3,019 |
| 2021 | $3,059 |
| 2022 | $3,054 |
| 2023 | $2,819 |
Our model year data is based on an 18-year-old male driver in Toronto, Ontario, who has basic car insurance coverage and a clean driving record. He also happens to drive 10,000 km per year. The exact vehicle is Elantra Essential 4DR.
Rates have fluctuated for the Kona. While there is no exact reason to pinpoint the rise and fall of rates some reports have said that some Hyundai’s are “too easy” to steal, and this may influence their insurance premiums.
The assumptions used here to calculate car insurance costs for the Hyundai Tucson 2WD are based on a male driver living in Toronto, Ontario who has basic car insurance and a clean driving record. He also happens to drive 10,000 km per year. The exact vehicle is 2023 Tucson 2WD.
| Age | Annual Premium |
|---|---|
| 18 | $3,133 |
| 19 | $2,909 |
| 20 | $2,167 |
| 21 | $1,639 |
| 22 | $1,605 |
| 23 | $1,506 |
| 24 | $1,472 |
| 25 | $1,438 |
| 26 | $1,320 |
| 27 | $1,317 |
| 28 | $1,244 |
| 29 | $1,250 |
| 30 | $1,255 |
| 40 | $869 |
| 50 | $698 |
| 60 | $662 |
If you look at the latest data from the Insurance Bureau of Canada (IBC), you’ll discover that new Tucson models score slightly lower when it comes to claims filed for them.
The ratings across various coverages for 2020 Hyundai Tucson 2WD – the latest model for which there is data – are as follows:
Note: 100 is the average rating in each category, and the higher the number, the less favourable the rating.
| Model year | Annual Premium |
|---|---|
| 2018 | $3,232 |
| 2019 | $3,206 |
| 2020 | $3,180 |
| 2021 | $3,202 |
| 2022 | $3,259 |
| 2023 | $3,133 |
Our model year data is based on an 18-year-old male driver in Toronto, Ontario, who has basic car insurance coverage and a clean driving record. He also happens to drive 10,000 km per year. The exact vehicle is Hyundai Tucson 2WD.
Premiums throughout the years 2018 and 2023 have remained relatively consistent but annual premiums remain higher than cars like the Kona which represent the subcompact market. Sport utility vehicles remain popular in Canada and the Tucson is ranked no. 7 of all SUVs in Canada according to driving.ca. Their popularity likely means higher theft and repairs, which may be keeping rates higher than average.
Whether you purchase an Elantra, Tucson, Sonata or another Hyundai model, it's essential to find the best Hyundai car insurance for your needs. It's always a good idea to shop around to find the best insurance provider on sites like RATESDOTCA offering the most attractive rates and plans. There are many good reasons why several Hyundai vehicles are among the most popular cars in Canada. They offer a good balance of attractive design, high performance safety features, and economy. Once you choose the model that's right for you, all that remains is selecting the best Hyundai auto insurance policy to protect your investment. Why don't you begin right here? Compare Hyundai insurance rates today.
Joel Kranc is a freelance writer and content provider who has worked with RATESDOTCA since 2019. He holds an MA in political science from the University of Toronto and a film certificate from New York University.
He has been published in and worked for such companies as CNN, Rogers Media, Institutional Investor Magazine, The Globe and Mail, Infrastructure Investor, BenefitsPRO Magazine, Global Finance Magazine, With Intelligence, the CPP Investment Board, Hospitals of Ontario Pension Plan, and many more financial services and industry publications.
He is the author of "Retirement Planning in 8 Easy Steps," which, when released in 2015, was No. 11 on the Publisher's Weekly US Bestseller List for Business and Finance, beating out Mark Cuban's "How to Win at the Sport of Business."
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