Hyundai’s second subcompact SUV, the Venue is Hyundai’s smallest SUV. Another benefit of this SUV is its low starting price of around $18,000. Hyundai Venue car insurance ratesis estimated to cost between $150 and $170 a month, depending on your coverage. That is more than the national average of 4%, but still acceptable for an SUV in terms of yearly insurance costs to base. Because the Venue is marketed at “urban adventurers,” insurance on it is likely to be more costly than on comparable SUVs in part because of the increased risk associated with driving in cities.
- How do I compare insurance for the Venue?
- Does the Hyundai Venue qualify for discounts?
- How reliable is the Hyundai Venue?
- Bottom line
How do I compare insurance for the Venue?
Insuring a car is complicated because of the many variables that go into it. Here are a few examples:
- Body type. In comparison to sedans, the Hyundai Venue is a subcompact crossover SUV. However, insurance for these vehicles is more expensive.
- Fuel. Compared to comparable SUVs, you’ll save money on gas with this one’s projected combined mileage of 33 mpg.
- Theft rates are on the rise. Hyundai SUVs have a low theft rate, according to NHTSA data from November 2019; this helps keep insurance premiums low for the brand.
- Maintenance. According to Repair Pal‘s website as of November 2019, the Santa Fe, the Venue’s cousin model, has a yearly maintenance cost of $515 on average. Insurance premiums may be kept low if maintenance expenses are kept low.
- Coverage. Retaining both collision and comprehensive insurance on a new Location is an option to consider.
- Warranty. Hyundai offers a five-year/60,000-mile warranty on the Venue, or a ten-year/100,000-mile guarantee on the Santa Fe. The roadside assistance is included in both warranties, so you don’t have to buy it separately from your regular insurance.
- Provider’s supply. At the time of this writing, no official incentives have been announced for the 2020 Venue, although Hyundai usually provides incentives for its newest models, such as 0% APR financing.
Does the Hyundai Venue qualify for discounts?
Safety savings may be available if your Hyundai Venue has the following options:
- Anti Lock brake discount
- Antitheft discount
- Seatbelt pretensioners
- Passive restraint discount
- Airbag discount
How reliable is the Hyundai Venue?
It’s too early to draw any conclusions about the Venue model since it has just been on the market since 2019. Other Hyundai SUVs with a longer track record attest to their high levels of safety and dependability.
- Safety. The Insurance Institute for Highway Safety’s Top Safety Pick+ went to the 2019 Hyundai Tucson, a comparable small SUV (IIHS). The Santa Fe, a comparable vehicle, also earned the top safety pick plus distinction from the National Highway Traffic Safety Administration and was given a 5-star overall safety rating.
- Reliability. Hyundai Santa Fe received JD Power‘s Most Reliable and Highest Quality awards in 2016 and 2019, respectively. Hyundai’s previous SUV models have received high scores for dependability, so expect the Hyundai Venue to do the same.
- Recalls. Hyundai has just announced a recall on some of its Santa Fe vehicles, so the Venue is in danger of a similar fate.
Hyundai’s Venue subcompact SUV is the company’s smallest and most inexpensive model. Although its insurance premiums will likely start off with a high cost-to-base ratio, excellent safety ratings should help reduce them.
For another car insurance review, visit our review of Ford EcoSport Car Insurance Rates.