The Hyundai Palisade enters the luxury segment at a lower-than-expected price given its rank. Because this SUV effectively replaces the Santa Fe model, expect to pay for Hyundai Palisade insurance rates of $158 per month or $1,896 per year, which is roughly $500 more than the national average. With a base price of $31,550, the yearly insurance cost-to-base car price ratio would be 6%, which is higher than the national average of 4% but not out of line for a luxury SUV.
- How do I compare insurance for the Palisade?
- How reliable is the Hyundai Palisade?
How do I compare insurance for the Palisade?
The Palisade’s secure and robust structure, cheap sticker price, and complimentary five-year roadside support help to keep insurance rates low. Other cost-cutting measures include:
- Body type. The model is a spacious midsize SUV, making it less expensive and safer to insure. The type is a spacious midsize SUV, making it less expensive and safer to insure.
- Fuel. When cruising this vehicle’s 19- to 26-mpg EPA rating, which is about typical for its size, don’t expect to save money on fuel.
- Theft rates. If the Palisade is anything like Santa Fe, it may experience 50 to 100 total thefts every model year, which is minimal when compared to other Hyundai’s.
- Maintenance. It’s hard to predict what the Palisade will face. However, Santa Fe experienced documented engine failure concerns in the 2012 and 2013 versions.
- Coverage. Consider a premium coverage with roadside assistance after your warranty expires to guard against difficulties similar to those seen by Santa Fe.
- Insurer options. This entry-level luxury vehicle might be insured by either regular or luxury insurers such as Chubb. However, the latter will limit your alternatives.
- Warranty. Hyundai provides a five-year, 60,000-mile warranty as well as a ten-year, 100,000-mile powertrain warranty. You’ll also get five years of roadside assistance with no mileage limitations, so you won’t need to add that coverage to your insurance policy.
Does the Hyundai Palisade qualify for discounts?
Your new vehicle should include the following standard safety measures, which may result in insurance discounts:
- Antilock brakes
- Driver assistance
- Stability control
Why is Hyundai Palisade insurance rates so expensive?
It’s not the most expensive luxury SUV on the block, but it comes with a higher premium than average for these reasons:
- Luxury class. The Palisade is considered a luxury vehicle, and that means Hyundai Palisade insurance rates have a high coverage to protect your investment.
- High ticket price. Buying this vehicle might not thin your wallet the same as a Lincoln, but it’s still more expensive than the average SUV.
- High horsepower. It’s built to pull up to 5,000 pounds, but doing so could add more driving risk for your insurer.
How reliable is the Hyundai Palisade?
Since the Santa Fe has lately experienced numerous difficulties, overall dependability may swing either way, but the Palisade has good safety ratings. Consider the following safety information:
- Safety. With outstanding ratings in nearly all accident areas, this future model has already earned the IIHS’s 2019 Top Safety Pick honor. The only drawback is that some grades have poor headlight visibility.
- Reliability. The Palisade is above average with 3.5 out of 5 stars for the J.D. Power Predicted Reliability rating.
- Recalls. The Santa Fe had several recalls for airbags, steering wheels, engine bearings, and warning lights, so expect some issues with the Palisade as well.
For more insurance rates and reviews, check out our Jeep Wrangler Insurance Rates.