I know what you mean on the insurance rates. The insurance cost for
our new 2006 Elantra GLS is much higher than expected. But, I think I
know why, and I hope I don't offend anyone here!
It appears from speaking to my insurance agent, Hyundai's rates are
higher because of its historical insurability record. As you know,
rate structures are not based only on "your" driving record, rather the
whole "universe" of drivers of that make and model. Similar to one's
homeowner's insurance because of hurricane insurance payouts, etc. . .
Hyundai, for better or worse, historically sold its vehicles to many of
those at the lower end of the socio-economic scale, some of whom did
not have enviable driving records or accident histories. Again, my
intent is not to offend anyone, but just stating what's on the record.
Because of this, most of us who are buying Hyundai products today tend
to pay higher rates than a Honda or Toyota. Hopefully, as Hyundai
continues to improve its products and market penetration, this will
change as the brand is perceived differently.
I've never had a chargeable accident, nor a moving violation, and am in
the lowest rate category possible, but my rates on the new Elantra are
higher than that of a 2006 Accord or Camry. I know, because I checked
prior to buying the Elantra. It's certainly very frustrating to be
Regarding the IIHS, I never perceived that organization as biased, but
because of the "fast-tracking" of the new Civic testing and results, I
truly wonder. Unless the new Sonata failed miserably (which I
seriously doubt), and the IIHS is holding the results until a retest,
there is no excuse for publishing the crash test results of the new
Civic prior to the new Sonata.