Hyundai Nexo Insurance Cost for 2023

• Hyundai Nexo insurance costs an average of $1,938 per year (around $162 per month) for a full coverage policy.
• The cheapest Nexo trim level to insure is the Blue model at around $1,912 per year, and the most expensive trim is the Limited at $1,964 annually.
• When compared to other small SUVs, the 2023 Hyundai Nexo is one of the more expensive small SUVs to insure, costing $332 more per year on average.

How much does Hyundai Nexo car insurance cost?

Hyundai Nexo insurance costs an average of $1,938 annually, or around $162 each month. With the average small SUV costing $1,606 a year to insure, the Hyundai Nexo could cost as much as $332 more annually.

The following chart illustrates average car insurance cost for a 2023 Nexo using a range of different policy rating factors.

To give you a better sense of how variable insurance rates are for a Nexo, liability-only insurance for a Hyundai Nexo in some parts of Vermont or Idaho can be as low as $245 a year, while a newly licensed 16-year-old driver with a few tickets in certain areas of New Orleans, Louisiana, could be as high as $15,980 a year for full coverage.

Is the Nexo Blue or Limited cheaper to insure?

The cheapest model of Hyundai Nexo to insure is the Blue model at an average cost of $1,912 per year. The most expensive Nexo model to insure is the Limited at an average cost of $1,964 per year.

The table below shows average annual and semi-annual auto insurance policy costs, including a monthly amount for budgeting, for each 2023 Hyundai Nexo trim level.

Where does Hyundai Nexo insurance cost rank?

The Hyundai Nexo ranks 46^th out of 47 total comparison vehicles in the small SUV category. The Nexo costs an average of $1,938 per year for insurance, while the category average is $1,606 per year, a difference of $332 per year.

When car insurance rates are compared to the top-selling vehicles in the small SUV class, the Nexo costs $304 more per year than the Toyota RAV4, $442 more than the Honda CR-V, $350 more than the Chevrolet Equinox, and $316 more than the Nissan Rogue.

The chart below shows how well average Hyundai Nexo car insurance rates fare against the most popular small SUVs like the Toyota RAV4, Honda CR-V, and the Nissan Rogue. An expanded table is included after the chart that ranks insurance affordability for the entire 2023 small SUV category.

Nexo insurance rates by U.S. city and state

Depending upon where you live, insurance cost for a Hyundai Nexo varies widely from lower rates like $1,372 a year in Charlotte, NC, or $1,298 in Virginia Beach, VA, to more expensive rates such as $3,364 a year in New Orleans, LA and $2,794 in Miami, FL.

Average car insurance costs for a 2023 Nexo in some other large metro areas include Austin, TX, costing $1,714 per year, Jacksonville, FL, at an estimated $2,076, San Francisco, CA, at $2,610, and Omaha, NE, averaging $1,744.

The following bar chart ranks average insurance rates on a Hyundai Nexo for the largest cities in America.

Average Nexo insurance rates by U.S. state

When analyzing Hyundai Nexo insurance rates at a state level, states like Maine ($1,168) and Iowa ($1,296) have better insurance rates, while states like Michigan ($2,650), Louisiana ($2,306), and Florida ($2,416) have more expensive average car insurance costs.

The table below shows average car insurance rates for a 2023 Hyundai Nexo for all fifty U.S. states.

More data insights as they relate to Hyundai Nexo insurance cost include:

• High risk insurance is expensive. For a 30-year-old driver, having too many driving record violations or accidents can potentially increase rates by $2,340 or more per year.
• Increase deductibles to save money. Increasing your deductibles from $500 to $1,000 could save around $330 per year for a 40-year-old driver and $646 per year for a 20-year-old driver.
• Lower deductibles raise insurance cost. Lowering deductibles from $500 to $250 could cost an additional $346 per year for a 40-year-old driver and $680 per year for a 20-year-old driver.
• The older you get, the cheaper insurance rates become. The difference in Hyundai Nexo insurance rates between a 60-year-old driver ($1,732 per year) and a 30-year-old driver ($2,058 per year) is $326, or a savings of 17.2%.
• Gender and age affect the rate you pay. For a 2023 Hyundai Nexo, a 20-year-old male pays an average price of $3,854 per year, while a 20-year-old woman pays an estimated $2,846, a difference of $1,008 per year. The females get much better rates. But by age 50, the cost for men is $1,764 and the cost for a female driver is $1,730, a difference of only $34.
• Save money due to your job. The large majority of car insurance companies offer discounts for having a job in professions like architects, farmers, college professors, accountants, firefighters, and other occupations. If you can qualify for this discount, you could potentially save between $58 and $178 on your car insurance premium, depending on the coverage levels.
• Polish up your credit rating for lower rates. Drivers who maintain a credit score over 800 could see savings as high as $304 per year over a decent credit rating of 670-739. Conversely, an imperfect credit score below 579 could cost as much as $353 more per year.