Hyundai Ioniq Electric Insurance Rates
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Michelle Robbins
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UPDATED: May 12, 2024
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Average auto insurance rates for a Hyundai Ioniq Electric are $1,248 annually for full coverage insurance. Comprehensive insurance costs an estimated $230 each year, collision insurance costs $400, and liability coverage costs around $460. A policy with just liability insurance costs as low as $510 a year, and coverage for high-risk drivers costs $2,704 or more. Teenage drivers receive the highest rates at up to $4,836 a year.
Average premium for full coverage: $1,248
Rate estimates broken down by individual coverage type:
Rate estimates include $500 comprehensive and collision deductibles, bodily injury liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Rates are averaged for all 50 states and Ioniq Electric models.
Price Range by Coverage and Risk
Using a 40-year-old driver as an example, prices range range from as cheap as $510 for your basic liability-only policy to a high rate of $2,704 for a driver who has had serious violations or accidents.
Price Range by Location
Where you live has a large influence on the price of insurance. More rural locations tend to have fewer physical damage claims than densely populated cities. The graphic below illustrates how rural and urban location affects insurance prices.
These examples illustrate why all drivers should compare prices for a targeted area and their own personal driving habits, rather than 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.
More Rate Information
The chart below illustrates average Hyundai Ioniq Electric insurance rates for other coverage scenarios.
- The best discount rate is $729
- Using higher $1,000 deductibles will save approximately $144 each year
- The estimated rate for a 40-year-old driver who has $500 deductibles is $1,248
- Using low deductibles for physical damage coverage costs an additional $276 each year
- Higher-risk drivers who are prone to accidents and violations could pay up to $2,704
- The cost with full coverage for a teenage driver can cost as much as $4,836 or more
Insurance rates for a Hyundai Ioniq Electric can also vary considerably based on the trim level of your Ioniq Electric, your risk profile, and liability limits and deductibles.
More mature drivers with no violations or accidents and high physical damage deductibles may only pay around $1,200 a year for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they should be prepared to pay at least $4,800 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are probably paying $1,500 to $2,100 additional per year, depending on your age. Insurance for high-risk drivers can be around 43% to 134% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles could cut rates by as much as $420 a year, whereas increasing liability limits will increase premiums. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $414 more each year. View Rates by Deductible or Liability Limit
Where you live has a huge impact on Hyundai Ioniq Electric insurance rates. A driver around age 40 might see rates as low as $820 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $1,690 on average in Florida, New York, and Michigan.
| 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% |
| 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 the Best Hyundai Ioniq Electric Insurance
Saving money on auto insurance requires avoiding accidents and violations, having good credit, avoid buying unnecessary coverage, and possibly raising deductibles. Set aside time to shop around every other policy renewal by getting quotes from direct insurance companies like Progressive and GEICO, and also from your local independent and exclusive agents.
The list below is a brief recap of the ideas that were raised in the charts and tables above.
- Teenagers are expensive to insure, costing up to $403 per month if they have full coverage
- Drivers who tend to receive serious violations may pay on average $1,460 more annually for car insurance
- Increasing deductibles could save up to $425 each year
- It is possible to save approximately $150 per year just by quoting online in advance
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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