Hyundai has come a long way in the eyes of American consumers over the last twenty years. Still an affordable car, the styling has been improved. Offering forty miles to the gallon, the Accent is becoming a popular commuter car for people concerned about the rising costs of gasoline. While there’s no doubt that that Accent will save you money at the gas station, you should also take into account how this vehicle will affect your insurance premium.
Insurance companies typically charge less for cars with an official back seat. Unfortunately, there are several commuter cars offering high gas mileage ratings that don’t feature this additional seating space. Historically, these cars are classified by the insurance companies as “sports cars”, and they will carry a higher ticket on insurance. Choosing a high MPG-rated car with a backseat for commuting not only allows you to haul the kids around, it also saves money on the cost of insurance.
The Accent doesn’t have a lot of bells and whistles. The lowest trim level is actually available without a standard stereo. While this may mean that the lower trim levels aren’t as interesting to drive, it also means that the cost of insurance stays low. The fewer luxury items there are to be damaged in an accident, the lower your insurance company’s liability.
This is one area where Hyundai and Kia usually run into problems. The cars are sound, the gas mileage is there, but the resale value is poor. While you might not care about this if you tend to keep cars until you run them into the ground and the wheels fall off, you will care about this in the event of an accident. The insurance will only pay you the value of the car, regardless of what you owe on it.
Because the value on an Accent will fall quickly, the cost of insuring it stays lower. However, it is highly recommended that you invest in GAP insurance if you choose a Hyundai. The insurance can be purchased through the dealer, on its own or possibly through your insurance company. It will drive up your overall cost of ownership, slightly offsetting the savings you get from lower insurance premiums.
Accent's safety ratings have not been very high in the past. Anti-lock brakes have not always been standard, nor has stability control or side impact airbags. The 2012 Accent offers all of these attractive features, along with overhead airbags, pretensioners on the seatbelts and anti-whiplash head restraints. For these reasons, you can expect you insurance premiums on a 2012 to be slightly lower than they would be for a used model that doesn’t have these features. Look closely at any used Accent you are considering to be sure it has the right safety features for you and your family.
The Accent is an extremely affordable car not only at the dealer but also with the insurance provider. The fast depreciation, extensive safety features and basic styling work together to keep the average cost of insurance well below an average of one hundred dollars per month. This savings is slightly offset by the need for GAP insurance, but once the balance on the note drops sufficiently you can easily eliminate that additional coverage.
Whether the Accent is right for you depends on your needs. As a family car to go long distances, it might not be the most comfortable choice. On the other hand, if you are seeking an affordable car that gets great gas mileage for commuting and won’t cost a lot to insure, then the Accent is worth taking for a test drive.