Hyundai Ioniq Electric Insurance Rates
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UPDATED: May 12, 2024
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The average insurance rates for a Hyundai Ioniq Electric are $1,248 a year including full coverage. Comprehensive insurance costs on average $230, collision costs $400, and liability coverage is estimated at $460. Liability-only insurance costs approximately $510 a year, with high-risk driver insurance costing $2,704 or more. Teens 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 policy deductibles, bodily injury liability limits of 30/60, and includes uninsured motorist and medical coverage. Prices are averaged for all 50 U.S. states and for different Ioniq Electric trim levels.
Price Range Variability
Using a 40-year-old driver as an example, Hyundai Ioniq Electric insurance rates go from as low as $510 for the bare minimum liability coverage to a much higher rate of $2,704 for a driver who has had serious violations or accidents.
Urban vs. Rural Price Range
Living in a larger city has a large influence on car insurance rates. Rural areas are shown to have a lower frequency of comprehensive and collision claims than cities with more traffic congestion.
The price range example below illustrates how rural and urban location affects car insurance rates.
The examples above highlight why anyone shopping for car insurance should get quotes based on a specific location and risk profile, rather than using averaged prices.
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 Rate Information
The chart below breaks down estimated Hyundai Ioniq Electric insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $729
- Choosing higher $1,000 deductibles can save around $144 every year
- The average rate for a good driver age 40 with $500 deductibles is $1,248
- Selecting more expensive low deductibles for comp and collision coverage will cost an extra $276 each year
- Drivers with serious driving violations could pay upwards of $2,704 or more
- Policy cost for full coverage for a teenage driver with full coverage may cost $4,836 each year
Auto insurance rates for a Hyundai Ioniq Electric also range considerably based on your risk profile, the model of your Ioniq Electric, and policy deductibles and limits.
An older driver with a good driving record and high deductibles may only pay around $1,200 annually on average, or $100 per month, for full coverage. Rates are much higher for teenagers, where even good drivers will have to pay upwards of $4,800 a year. View Rates by Age
Your home state plays a big part in determining prices for Hyundai Ioniq Electric insurance rates. A good driver about age 40 could pay as low as $960 a year in states like Missouri, New Hampshire, and Vermont, or have to pay at least $1,780 on average in Michigan, New York, and Louisiana.
| 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% |
Choosing higher comprehensive and collision insurance deductibles can save as much as $420 a year, while increasing your policy's liability limits will cost you more. Changing from a 50/100 limit to a 250/500 limit will raise rates by up to $414 extra every year. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you are likely paying at a minimum $1,500 to $2,100 in extra premium every year, depending on your age. High-risk driver insurance ranges around 43% to 134% more than the average policy. View High Risk Driver Rates
Because rates have so much variability, the best way to figure out exactly what you will pay is to compare rates and see how they stack up. Each auto insurer calculates rates differently, and quoted rates will be varied 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 Low Cost Hyundai Ioniq Electric Insurance
Finding cheaper rates on auto insurance takes avoiding accidents and claims, having good credit, paying for small claims out-of-pocket, and taking advantage of discounts. Set aside time to shop around every other policy renewal by getting quotes from direct car insurance companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
The points below are a review of the ideas that were raised in the charts and tables above.
- Drivers under the age of 20 are charged the highest rates, with premiums being up to $403 each month if they have full coverage
- Drivers who have several accidents or serious violations may pay on average $1,460 more each year to insure a Hyundai Ioniq Electric
- Increasing comprehensive and collision deductibles can save around $425 each year
- You may be able to save as much as $150 per year simply by shopping early and online
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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