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A brief history of Hyundai

Matt Hands

Headquartered in Seoul, South Korea, Hyundai Motor Company is one of the biggest names in today's automobile industry – here’s how it began.

In 1947, Chung Yu-Jung founded Hyundai Engineering and Construction Company to help with South Korea’s restoration post-World War II. However, because the Korean War followed shortly, the entrepreneur had to abandon the company and began working for the Korean Ministry of Transportation instead. He then founded Hyundai Motor Company in 1967, launching the company’s first vehicle just a year later. 

The Cortina was created in collaboration with Ford Motor Company, setting up the company’s future for success. Its second model, the Pony, was released in 1976 and became the first mass production car in South Korea. 

By 1983, Hyundai Auto Canada Corporation was established, and the Pony was sold to Canadians all across the country. It later became the national top selling car, allowing the corporation to launch the Hyundai Stellar and Hyundai Excel shortly thereafter. 

In the year 2020 alone, Hyundai sold over 133,000 vehicles in Canada. Hyundai currently has over 192 dealerships cross-country. 

Today, popular models from Hyundai include the Elantra, Accent, and Sonata, as well as its hybrid vehicle selection. The company continues its devotion in building top-quality cars and creating the ideal driving experience for its customers.

Mandatory insurance for Hyundai vehicles

Third-party liability


Accident benefits


Direct compensation property damage (DCPD)


Uninsured motorist


Optional Hyundai car insurance coverage

Collision insurance


Comprehensive insurance


All perils


Specified perils


Hyundai insurance endorsements

Suspension of coverage (endorsement 16)


Reinstatement of coverage (endorsement 17)


Loss of use (endorsement 20)


Legal liability for damage to non-owned vehicles (endorsement 27)


Accident forgiveness (endorsement 39)


Replacement cost insurance (endorsement 43)


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Hyundai car insurance rates by model

The following car insurance rates are calculated using Ratehub’s car insurance calculator, taking the average of the three lowest premiums offered for five popular Hyundai models. 

Methodology: Each table below outlines monthly and annual rates for a 35-year-old male driver, living in Toronto, Ontario with a clean driving record. The policy includes $1,000,000 in liability coverage and a $1000 deductible each for collision insurance and comprehensive insurance

Keep in mind that insurance companies offer premiums on a case-to-case basis, depending on the driver’s demographics and driving habits. To find the exact price you’ll be paying to insure your Hyundai, be sure to compare auto insurance quotes with us. 

Model (5DR)

Average monthly rate

Average annual rate

2020 Accent (Essential)

$144

$1,725

2019 Accent (Essential)

$141

$1,695

2018 Accent (GL)

$139

$1,673

2017 Accent (GL)

$145

$1,744

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How to get cheap Hyundai insurance

  1. Compare the market

    Auto insurance rates vary greatly between companies – you need to research which insurer will offer the best coverage specific to you.

  2. Bundle your policies

    You may get discounts if you bundle insurance plans together, for example, by having your auto and home insurance bundled together with the same auto insurance carrier.

  3. Increase your deductible

    The deductible is what you pay when something happens to your Hyundai, before the insurance company pays the rest. Increasing your deductible can lower your annual premiums – just make sure you can afford it.

  4. Ask about discounts

    Many insurers offer discounts to members of professional organizations or affiliation groups – so it pays to ask about discount relationships.

  1. Take a course

    Accredited driving courses will not only make you a safer driver, but can also result in discounts from many insurance companies.

  2. Maintain a good driving record

    At-fault collisions and driving convictions stay on your insurance record for years and make your rates go way up – if you drive safely, you’ll pay the lowest rates.

  3. Track your driving

    With usage-based insurance (UBI) you can earn discounts for driving well. Tracking your own driving online, you can earn discounts by not driving far or often, and on advanced stats like how carefully you brake.

  4. Pay upfront

    If you pay your premiums up front for the year – or even per half-year – you will usually end up paying less than if you paid monthly.

FAQ: Hyundai car insurance

How much does it cost to insure a Hyundai?


Why is a Hyundai so expensive to insure?


How do I get insurance for my Hyundai in Canada?


Matt Hands, Business Director of Insurance

Matt started his professional career at CARPROOF where he honed his marketing and analytical skills for over 3 years. Matt then took his wealth of experience to Ratehub.ca’s Toronto offices, working with insurance providers, agents, and brokers to grow and expand the Insurance business unit. He is a thought leader in the community and a valuable insurance resource to respected publications like the Globe & Mail, Toronto Star, Huffington Post, Yahoo News, and 680 news radio in Toronto.

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