Hyundai Ioniq Electric Insurance Rates
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Michelle Robbins
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UPDATED: May 12, 2024
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The average auto insurance rates for a Hyundai Ioniq Electric are $1,248 annually for full coverage. Comprehensive costs on average $230, collision costs $400, and liability costs $460. A liability-only policy costs as little as $510 a year, with high-risk insurance costing around $2,704. Teenage drivers cost the most to insure at $4,836 a year or more.
Average premium for full coverage: $1,248
Policy rates by type of insurance:
Estimates include $500 deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all states and for all Ioniq Electric models.
Price Range Variability
Using a 40-year-old driver as an example, Hyundai Ioniq Electric insurance rates go from as cheap as $510 for liability-only coverage to the much higher price of $2,704 for coverage for higher-risk drivers.
Urban vs. Rural Price Range
Your location can have significant affects on car insurance rates. Rural areas are shown to have fewer accident claims than densely populated cities.
The example below illustrates how rural and urban location affects car insurance rates.
The examples above show why everyone should compare rates based on a specific location and their own personal driving habits, 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.
Additional Charts and Tables
The chart below shows 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 a year
- The estimated rate for a good driver age 40 with $500 deductibles is $1,248
- Using pricier low deductibles for comprehensive and collision insurance will cost $1,524
- Higher-risk drivers who are prone to accidents and violations could pay upwards of $2,704 or more
- Policy cost with full coverage for a teen driver for full coverage may cost $4,836 a year
Car insurance rates for a Hyundai Ioniq Electric also range considerably based on the model year and trim level, your driver profile, and policy deductibles and limits.
A more mature driver with no driving violations and high physical damage deductibles may pay as little as $1,200 per year on average, or $100 per month, for full coverage. Rates are much higher for teenagers, where even without any violations or accidents they will be charged upwards of $4,800 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you could be paying at a minimum $1,500 to $2,100 extra every 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
Using high physical damage deductibles could save up to $420 every year, whereas buying more liability protection will cost you more. Going from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $414 extra every 12 months. View Rates by Deductible or Liability Limit
Your home state 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 Idaho, Maine, and Iowa, or be forced to pay as much as $1,780 on average in Michigan, Louisiana, and New York.
| 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% |
Because rates have so much variability, the only way to know 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, so rate quotes will be varied between companies.
| 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 Buy Low Cost Hyundai Ioniq Electric Insurance
Finding cheaper rates on car insurance not only requires not taking risks behind the wheel, but also having a good credit score, avoid buying unnecessary coverage, and maximizing policy discounts. Set aside time to shop around at least once a year by requesting quotes from direct carriers like Progressive, GEICO, and Esurance, and also from local insurance agents.
The following is a review of the primary concepts that were raised in the charts and tables above.
- Drivers can save as much as $150 per year simply by quoting online well ahead of the renewal date
- Higher risk drivers who have several accidents or serious violations may be required to pay an average of $1,460 more each year for Ioniq Electric insurance
- Increasing comprehensive and collision deductibles could save up to $425 each year
- Teens are expensive to insure, costing up to $403 each month if comprehensive and collision insurance is included
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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