How much does insurance cost for a 2023 Hyundai Elantra?

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When people shop for a car, most focus on the sticker price, fuel economy, or the features that stand out. But insurance is another big part of the total cost of ownership – and it can change quite a bit from one driver to the next.

For a 2023 Hyundai Elantra, what you’ll pay depends on the type of policy you carry. State-minimum liability is the cheapest option, averaging $691 per year ($58 per month).

Full coverage – which includes liability, collision, and comprehensive – costs closer to $2,468 per year ($206 per month) based on limits of 100/300/100 with $500 deductibles.

2023 Hyundai Elantra insurance premiums by state

Where you live plays a huge role in what you’ll pay. ZIP codes can matter just as much as your driving history. That’s why insuring a Elantra in California might be far more expensive – or cheaper – than in Florida.

Here’s a look at the cheapest and most expensive states for 2023 Hyundai Elantra insurance.

Cheapest states to insure a 2023 Hyundai Elantra

Idaho has the lowest average premium for 2023 Hyundai Elantra drivers at $1,570 per year ($131 per month). Other affordable states include Maine, Vermont, Ohio, and Hawaii.

The table below shows the cheapest states to insure a 2023 Hyundai Elantra.

State name	Average annual premium
Idaho	$1,570
Maine	$1,621
Vermont	$1,631
Ohio	$1,663
Hawaii	$1,737

Most expensive states to insure a 2023 Hyundai Elantra

Louisiana is the most expensive states for car insurance at $4,067 a year, followed by Michigan with an average annual cost of $3,379 and Georgia at $3,373. The table below shows which states have the most expensive 2023 Hyundai Elantra insurance rates.

State name	Average annual premium
Louisiana	$4,067
Michigan	$3,379
Georgia	$3,373
Colorado	$3,206
Florida	$3,202

2023 Hyundai Elantra insurance premiums by trim level

Insurance rates also vary by trim. Higher trims often come with more powerful engines, luxury tech, and a bigger price tag – all of which can push premiums higher.

Below, you’ll see how car insurance rates for the 2023 Hyundai Elantra compare across trim levels.

Trim	Average annual premium
Elantra Blue	$2,488
Elantra Limited	$2,474
Elantra N Line	$2,543
Elantra SE	$2,424
Elantra SEL	$2,399

Factors that influence 2023 Hyundai Elantra insurance premiums

Premiums for a 2023 Hyundai Elantra aren’t one-size-fits-all. They change based on the car itself, who’s driving it, and the policy you choose. Here are some of the main factors.

Vehicle-related factors

Vehicle value. Newer or higher-priced models are more expensive to insure.
Repair costs. Cars with above-average parts or repair expenses carry higher premiums.
Safety ratings. Good crash-test scores and advanced safety features can lower costs.
Theft risk. If a model is frequently stolen, insurers raise the price to cover the risk.

Driver-related factors

Age and gender. Younger, less experienced drivers usually pay more.
Location. Urban drivers see higher rates than those in rural areas.
Driving history. Clean records help lower premiums, while tickets and accidents raise them.
Annual mileage. The more miles you drive, the greater the risk – and the higher the cost.

Policy-related factors

Coverage level. Full coverage policies cost more but offer broader protection.
Deductible amount. Higher deductibles reduce premiums but mean higher out-of-pocket costs after a claim.
Optional add-ons. Things like roadside assistance, gap insurance, or rental reimbursement add convenience but also add to the bill.

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Cheapest insurance companies for insuring a 2023 Hyundai Elantra

GEICO offers the cheapest car insurance rates for a 2023 Hyundai Elantra, averaging $1,893 per year. Other insurers with competitive prices include State Farm, Nationwide, and Progressive. The table below shows the companies with the most affordable 2023 Hyundai Elantra insurance rates.

Company group	Average annual premium
GEICO	$1,893
State Farm	$2,191
Nationwide	$2,350
Progressive	$2,371
Farmers	$3,039
Allstate	$3,086

How to lower 2023 Hyundai Elantra insurance premiums

Looking to save? Here are some practical ways to cut your costs.

Shop around for quotes. Each insurer calculates risk differently.
Adjust your coverage. If the car is older or you don’t drive often, lowering limits or dropping extras may save you money.
Raise your deductible. This lowers premiums but means paying more after a claim.
Take advantage of discounts. Safe driving, bundling home and auto, low mileage, and built-in safety features can all qualify.
Keep a clean record. Tickets and accidents can send rates soaring, while safe driving helps keep them low.
Try usage-based insurance. Some companies offer discounts if you opt into telematics programs that track driving behavior.

Elantra insurance premiums by model year

Insurance rates for the Elantra change depending on the model year. In most cases, newer vehicles cost more to insure because they carry a higher market value and advanced technology that makes repairs more expensive. Rising labor and repair costs over the years have also pushed premiums higher across the board.

Below, you can compare average insurance premiums for the 2023 Hyundai Elantra by model year.

Model year	Average annual premium
2014	$1,870
2015	$1,941
2016	$2,003
2017	$2,155
2018	$2,193
2019	$2,269
2020	$2,312
2021	$2,383
2022	$2,442
2023	$2,468
2024	$2,447

How expensive is it to insure a 2023 Hyundai Elantra?

It costs an average of $2,468 per year to insure a 2023 Hyundai Elantra, which is $134 less than the national average of $2,602.

Insurance premiums are influenced by many factors, including the vehicle’s make and model. The best way to find savings is to compare quotes from several insurers, ensuring you get coverage that balances affordability with solid protection for your 2023 Hyundai Elantra.

Methodology

Insure.com commissioned Quadrant Information Services to gather insurance rates for new and used vehicles. Rates are based on a 40-year-old male driver with full coverage (100/300/100 limits and $500 deductibles for collision and comprehensive). The data set includes 1,661 makes and models, more than 67 million quotes from 57 companies, and 510 ZIP codes nationwide. These numbers are for comparison purposes only – your actual rate may differ.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

On this page

2023 Hyundai Elantra insurance premiums by state
2023 Hyundai Elantra insurance premiums by trim level
Factors that influence 2023 Hyundai Elantra insurance premiums
Cheapest insurance companies for insuring a 2023 Hyundai Elantra
How to lower 2023 Hyundai Elantra insurance premiums
Elantra insurance premiums by model year
How expensive is it to insure a 2023 Hyundai Elantra?
Methodology