Hyundai Ioniq Electric Insurance Rates
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Michelle Robbins
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UPDATED: May 12, 2024
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Average insurance rates for a Hyundai Ioniq Electric are $1,248 a year for full coverage insurance. Comprehensive insurance costs on average $230, collision costs $400, and liability costs $460. Buying just liability costs as little as $510 a year, with insurance for high-risk drivers costing $2,704 or more. Teenage drivers receive the highest rates at $4,836 a year or more.
Average premium for full coverage: $1,248
Rate estimates by individual coverage type:
These estimates include $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes both medical and UM/UIM coverage. Rates are averaged for all 50 states and for all Ioniq Electric models.
Price Range by Coverage and Risk
Using a 40-year-old driver as an example, prices range go from as low as $510 for basic liability insurance to the much higher price of $2,704 for a high-risk driver policy.
Price Range by Location
Your location can have significant affects on insurance rates. Rural areas tend to have a lower frequency of physical damage claims than densely populated cities.
The example below illustrates how rural and urban location affects car insurance rates.
These examples illustrate why everyone should compare rates based on a specific location and risk profile, instead of using average rates.
Use the form below to get customized rates for your location.
Enter your zip code below to view companies based on your location that have cheap auto insurance rates.
Rate Comparisons
The chart below illustrates estimated Hyundai Ioniq Electric insurance rates for different risk profiles and scenarios.
- The best discount rate is $729
- Drivers who choose higher $1,000 deductibles will pay around $144 each year
- The average rate for a 40-year-old driver with $500 deductibles is $1,248
- Using pricier low deductibles for comprehensive and collision insurance will cost an extra $276 every year
- Higher-risk drivers who are prone to accidents and violations could pay upwards of $2,704 or more
- The cost for full coverage for a teen driver for full coverage may cost $4,836 a year
Auto insurance rates for a Hyundai Ioniq Electric can also vary considerably based on your driver profile, the model year and trim level, and policy deductibles and limits.
A more mature driver with a good driving record and high deductibles may pay as little as $1,200 per year on average for full coverage. Rates are much higher for teen drivers, where even good drivers will have to pay upwards of $4,800 a year. View Rates by Age
Where you live makes a big difference in Hyundai Ioniq Electric insurance prices. A 40-year-old driver could pay as low as $820 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $1,690 on average in Michigan, New York, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,130 | -$118 | -9.5% |
| Alaska | $958 | -$290 | -23.2% |
| Arizona | $1,036 | -$212 | -17.0% |
| Arkansas | $1,248 | -$0 | 0.0% |
| California | $1,422 | $174 | 13.9% |
| Colorado | $1,194 | -$54 | -4.3% |
| Connecticut | $1,284 | $36 | 2.9% |
| Delaware | $1,414 | $166 | 13.3% |
| Florida | $1,560 | $312 | 25.0% |
| Georgia | $1,152 | -$96 | -7.7% |
| Hawaii | $896 | -$352 | -28.2% |
| Idaho | $846 | -$402 | -32.2% |
| Illinois | $928 | -$320 | -25.6% |
| Indiana | $938 | -$310 | -24.8% |
| Iowa | $840 | -$408 | -32.7% |
| Kansas | $1,186 | -$62 | -5.0% |
| Kentucky | $1,702 | $454 | 36.4% |
| Louisiana | $1,848 | $600 | 48.1% |
| Maine | $772 | -$476 | -38.1% |
| Maryland | $1,030 | -$218 | -17.5% |
| Massachusetts | $1,000 | -$248 | -19.9% |
| Michigan | $2,168 | $920 | 73.7% |
| Minnesota | $1,046 | -$202 | -16.2% |
| Mississippi | $1,494 | $246 | 19.7% |
| Missouri | $1,108 | -$140 | -11.2% |
| Montana | $1,340 | $92 | 7.4% |
| Nebraska | $984 | -$264 | -21.2% |
| Nevada | $1,498 | $250 | 20.0% |
| New Hampshire | $900 | -$348 | -27.9% |
| New Jersey | $1,396 | $148 | 11.9% |
| New Mexico | $1,106 | -$142 | -11.4% |
| New York | $1,316 | $68 | 5.4% |
| North Carolina | $718 | -$530 | -42.5% |
| North Dakota | $1,022 | -$226 | -18.1% |
| Ohio | $862 | -$386 | -30.9% |
| Oklahoma | $1,284 | $36 | 2.9% |
| Oregon | $1,144 | -$104 | -8.3% |
| Pennsylvania | $1,190 | -$58 | -4.6% |
| Rhode Island | $1,666 | $418 | 33.5% |
| South Carolina | $1,130 | -$118 | -9.5% |
| South Dakota | $1,054 | -$194 | -15.5% |
| Tennessee | $1,092 | -$156 | -12.5% |
| Texas | $1,504 | $256 | 20.5% |
| Utah | $924 | -$324 | -26.0% |
| Vermont | $854 | -$394 | -31.6% |
| Virginia | $748 | -$500 | -40.1% |
| Washington | $968 | -$280 | -22.4% |
| West Virginia | $1,144 | -$104 | -8.3% |
| Wisconsin | $864 | -$384 | -30.8% |
| Wyoming | $1,112 | -$136 | -10.9% |
Using high physical damage deductibles could save up to $420 every year, whereas buying more liability protection will cost you more. Switching from a 50/100 limit to a 250/500 limit will cost as much as $414 extra every year. View Rates by Deductible or Liability Limit
If you like to drive fast or tend to cause accidents, you are probably paying at a minimum $1,500 to $2,100 in extra premium per year, depending on your age. Hyundai Ioniq Electric insurance for high-risk drivers can cost as much as 43% to 134% more than a normal policy. View High Risk Driver Rates
With so much variability in rates, the only way to figure out exactly what you will pay is to regularly compare rates and see which company has the best rate. Every company uses a different method to calculate rates, and quoted rates can be significantly different from one company to the next.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2022 Hyundai Ioniq Electric | $274 | $530 | $430 | $1,392 |
| 2021 Hyundai Ioniq Electric | $260 | $512 | $442 | $1,372 |
| 2020 Hyundai Ioniq Electric | $250 | $474 | $452 | $1,334 |
| 2019 Hyundai Ioniq Electric | $240 | $446 | $456 | $1,300 |
| 2018 Hyundai Ioniq Electric | $230 | $400 | $460 | $1,248 |
| 2017 Hyundai Ioniq Electric | $214 | $368 | $460 | $1,200 |
Rates are averaged for all Hyundai Ioniq Electric models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Find Cheap Hyundai Ioniq Electric Insurance
Saving money on car insurance not only requires having a decent driving record, but also having good credit, avoid buying unnecessary coverage, and taking advantage of discounts. Set aside time to shop around every time your policy renews by obtaining price quotes from direct insurance companies like GEICO and Progressive, and also from local independent and exclusive agents.
The following items are a brief summary of the information raised in the charts and tables above.
- It is possible to save as much as $150 per year simply by quoting online well ahead of the renewal date
- 16 to 18-year-old drivers are charged the highest rates, costing up to $403 per month if they have full coverage
- Increasing deductibles can save around $425 each year
- Higher risk drivers that tend to have accidents or serious violations pay an average of $1,460 more each year than a driver with a clean driving record
- Policyholders who require additional liability coverage will pay an extra $510 annually to go from a minimum limit to 250/500 limits
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $4,836 |
| 20 | $2,884 |
| 30 | $1,288 |
| 40 | $1,248 |
| 50 | $1,142 |
| 60 | $1,120 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $1,524 |
| $250 | $1,396 |
| $500 | $1,248 |
| $1,000 | $1,104 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,248 |
| 50/100 | $1,340 |
| 100/300 | $1,455 |
| 250/500 | $1,754 |
| 100 CSL | $1,386 |
| 300 CSL | $1,639 |
| 500 CSL | $1,823 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $6,868 |
| 20 | $4,598 |
| 30 | $2,750 |
| 40 | $2,704 |
| 50 | $2,586 |
| 60 | $2,564 |
Full coverage, $500 deductibles, two speeding tickets, and one at-fault accident
If a financial responsibility filing is required, the additional charge below may also apply.
Potential Rate Discounts
If you qualify for discounts, you may save the amounts shown below.
| Discount | Savings |
|---|---|
| Multi-policy | $65 |
| Multi-vehicle | $67 |
| Homeowner | $20 |
| 5-yr Accident Free | $87 |
| 5-yr Claim Free | $80 |
| Paid in Full/EFT | $53 |
| Advance Quote | $60 |
| Online Quote | $87 |
| Total Discounts | $519 |
Discounts are estimated and may not be available from every company or in every state.
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