Hyundai’s second release of the subcompact SUV, the smallest in its SUV series, is the 2020 Venue. With a starting price of less than $18,000, it’s also one of the most inexpensive SUVs on the market. The Hyundai Venue’s monthly insurance cost is estimated to be between $150 and $170. This results in an annual insurance cost-to-base ratio of about 10%, which is substantially higher than the national average of 4% but not unrealistic for an SUV.
The Venue is intended to appeal to “urban adventurers,” and the greater risk associated with driving in cities may be one of the reasons insurance on the Venue is likely to be more expensive than on comparable SUVs.
How do I compare insurance for the Venue?
There are several elements that influence your insurance premiums, including vehicle-specific characteristics. Among them are the following:
- Body type. The Hyundai Venue is a subcompact crossover SUV that is less expensive to insure than sedans but more expensive than pickups.
- Fuel. With an estimated combined fuel economy of 33 mpg, you’ll be able to save money on gas when compared to comparable SUVs.
- Theft rates. According to NHTSA figures from November 2019, Hyundai SUVs have a low theft rate, which helps to keep insurance costs low.
- Maintenance. Average yearly maintenance expenses in the Venue model of cousin, Santa Fe, have been around $515 as of November 2019, based on the RepairPal website. Small maintenance expenditures may assist maintain low rates of insurance.
- Coverage. Consider maintaining a new location with both a collision and extensive coverage.
- Warranty. The Venue includes a 5-year, 60,000-mile guarantee or 10-year, 100,000-mile guarantee from Hyundai. Both guarantees include roadside assistance, which enables you to avoid the insurance coverage.
- Manufacturer offer. At the time of this writing, no official offers were made for the 2020 Venue, although Hyundai generally provides offers for their latest models including 0 percent of APR funding.
Does the Hyundai Venue qualify for discounts?
If the following features are provided for your Hyundai Venue, you can save further security reductions
- Antilock brake discount
- Antitheft discount
- Seatbelt pretensioners
- Passive restraint discount
- Airbag discount
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How reliable is the Hyundai Venue?
Since 2019, the Venue model has just been on the market, thus there are not many historical statistics available. Other Hyundai SUVs have had high security and dependability ratings for a long time. Since 2019, the Venue model has just been on the market, thus there are not many historical statistics available. Other Hyundai SUVs have had high security and dependability ratings for a long time.
- Safety. The SUV of 2019 by the Institute of Highway Safety, Hyundai Tucson, is a comparable small SUV (IIHS). The Santa Fe has achieved the highest security award plus, in addition to receiving a 5-star overall safety certification from the national road safety authority. A further comparable model is the Santa Fe.
- Reliability. JD Power won both its Most Dependable Award in 2016 and its Highest Quality Award in 2019, the Hyundai Santa Fe. You may anticipate similar scores from the Hyundai Venue with high dependability rankings for their other SUV models.
- Recalls. As Hyundai has made a reminder of certain of its 2017 Santa Fe models, there is a danger of a recall of it.
The Hyundai Venue 2020 is the smallest, cheapest SUV in the Hyundai range. Strong safety assessments could help reduce insurance prices, although the rates probably start at a high cost-to-base ratio.
For additional car insurance review, Check out our review of Ford EcoSport Insurance Cost.