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, for Hyundai Palisade insurance you can expect to pay a similar premium 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?
- Body type. The model 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 gas.
- 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 Hyundais.
- 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 that includes roadside assistance after your warranty expires to guard against difficulties such as 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 guarantee 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.
The Palisade’s safe and sturdy structure, cheap sticker price, and complimentary five-year roadside support help to keep insurance rates low. Other cost-cutting measures include:
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 so expensive?
It is not the most costly luxury SUV on the market, but it commands a greater premium than the norm for the following reasons:
- Luxury class. Since the Palisade is considered a premium car, it requires more coverage to safeguard your investment.
- High ticket price. This car is not as costly as a Lincoln, but it is still more expensive than the ordinary SUV.
- High horsepower. It’s designed to tow up to 5,000 pounds, although doing so may increase your driving risk with your insurer.
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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 upcoming model has already received the IIHS’s 2019 Top Safety Pick honor. The one drawback is that some grades have poor headlight visibility.
- Reliability. The Palisade has a J.D. Power Predicted Reliability rating of 3.5 out of 5 stars, which is above average.
- Recalls. The Santa Fe had several recalls for airbags, steering wheels, engine bearings, and warning lights, so the Palisade may also have some issues in the future..
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