Hyundai Ioniq Electric Insurance Rates
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Michelle Robbins
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Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: May 12, 2024
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U.S. average insurance rates for a Hyundai Ioniq Electric are $1,248 a year for full coverage. Comprehensive costs on average $230 a year, collision costs $400, and liability coverage is $460. Buying just liability costs around $510 a year, with insurance for high-risk drivers costing around $2,704. 16-year-old drivers pay the highest rates at $4,836 a year or more.
Average premium for full coverage: $1,248
Price estimates by individual coverage:
Rate estimates include $500 deductibles, minimum liability limits, and includes medical and uninsured motorist coverage. Estimates are averaged for all states and Ioniq Electric trim levels.
Price Range from Low to High
For a driver around age 40, Hyundai Ioniq Electric insurance prices go from the low end price of $510 for just liability coverage to a high of $2,704 for high-risk insurance.
Geographic Price Range
Choosing to live in a large city has a large influence on car insurance rates. Rural areas have lower incidents of accident claims than congested cities.
The diagram below illustrates the difference between rural and urban areas on car insurance rates.
The ranges above show why it is important to compare rates quotes based on a specific location, rather than using rate averages.
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.
Detailed Rate Analysis
The chart below shows estimated Hyundai Ioniq Electric insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $729
- Raising to $1,000 deductibles will save around $1,104 a year
- The estimated price for the average middle-age driver with $500 deductibles is $1,248
- Buying low $100 deductibles bumps up the cost to $1,524
- Unlucky drivers with multiple tickets or accidents could pay upwards of $2,704 or more
- The price that insures a teenage driver may cost $4,836
Insurance prices for a Hyundai Ioniq Electric are also quite variable based on the trim level of your Ioniq Electric, how you drive, and policy deductibles and limits.
If you have some driving violations or you caused an accident, you could be paying at a minimum $1,500 to $2,100 additional each year, depending on your age. A high-risk auto insurance policy is expensive and can cost around 43% to 134% more than the average rate. View High Risk Driver Rates
Older drivers with no violations or accidents and higher comprehensive and collision deductibles may only pay around $1,200 every 12 months on average for full coverage. Prices are highest for teenage drivers, since even teens with perfect driving records should be prepared to pay upwards of $4,800 a year. View Rates by Age
The state you live in also has a big influence on Hyundai Ioniq Electric insurance rates. A middle-age driver might find prices as low as $820 a year in states like Idaho, Maine, and Iowa, or at least $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% |
Opting for high physical damage deductibles can reduce prices by up to $420 a year, while buying higher liability limits will cost you more. Going from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $414 more each year. View Rates by Deductible or Liability Limit
Since prices can be so different, the only way to know exactly what you will pay is to get quotes and see how they stack up. Every auto insurance company utilizes a different rate formula, and prices may be quite different.
| 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 the Best Hyundai Ioniq Electric Insurance
Getting lower rates on auto insurance consists of not taking risks behind the wheel, having a good credit score, eliminating unnecessary coverage, and insuring your home and auto with the same company. Comparison shop every couple of years by getting rate quotes from direct carriers, and also from local exclusive and independent agents.
The following is a brief recap of the material that was covered above.
- Consumers who require higher liability limits will pay around $510 each year to raise from a low limit to the 250/500 level
- Teens pay higher prices, with premiums as much as $403 a month if comprehensive and collision insurance is included
- Drivers who tend to receive serious violations may pay on average $1,460 more each year for Ioniq Electric insurance
- Increasing physical damage deductibles can save approximately $425 each year
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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