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. Comprehensive insurance costs on average $230 a year, collision insurance costs $400, and liability is estimated at $460. A policy with just liability insurance costs approximately $510 a year, and coverage for high-risk drivers costs $2,704 or more. 16-year-old drivers receive the highest rates at up to $4,836 a year.
Average premium for full coverage: $1,248
Rate estimates by individual coverage type:
Full coverage includes $500 physical damage insurance deductibles, minimum liability limits, and includes additional medical/uninsured motorist coverage. Rates are averaged for all states and Ioniq Electric trim levels.
Price Range by Coverage and Risk
Using a 40-year-old driver as an example, prices range range from the low end price of $510 for just the minimum liability insurance to a high of $2,704 for high-risk insurance.
Price Range by Location
Living in a larger city can make a big difference on car insurance rates. Rural areas tend to have lower incidents of accident claims than congested cities. The diagram below illustrates how rural and urban location affects car insurance rates.
These examples show why it is important to get quotes based on a specific location, instead of making a decision based on 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.
Additional Rate Analysis
The chart below shows average Hyundai Ioniq Electric insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $729
- Choosing higher $1,000 deductibles can save around $1,104 a year
- The estimated price for a 40-year-old driver with $500 deductibles is $1,248
- Buying low $100 deductibles for comp and collision coverage will cost an additional $276 annually
- Higher-risk drivers with multiple tickets or accidents could pay upwards of $2,704
- The cost that insures a 16-year-old driver may cost $4,836 each year
Insurance rates for a Hyundai Ioniq Electric can also vary considerably based on the trim level of your Ioniq Electric, how you drive, and policy deductibles and limits.
If you like to drive fast or you caused an accident, you could be paying at a minimum $1,500 to $2,100 additional per year, depending on your age. A high-risk auto insurance policy ranges from 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 pay as low as $1,200 annually on average for full coverage. Rates are highest for teen drivers, since even teens with perfect driving records should be prepared to pay upwards of $4,800 a year. View Rates by Age
Where you live plays a big part in determining prices for Hyundai Ioniq Electric insurance prices. A good driver about age 40 could pay 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 save as much as $420 annually, while buying higher liability limits will cost you more. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $414 more each year. View Rates by Deductible or Liability Limit
| 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 More Affordable Hyundai Ioniq Electric Insurance
Saving money on insurance for a Hyundai Ioniq Electric takes being a low-risk driver, having a good credit score, eliminating unneeded coverage, and dropping full coverage on older vehicles. Comparison shop every couple of years by getting rate quotes from direct carriers like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.
The items below are a summary of the material that was raised in the charts and tables above.
- Insureds who require more liability coverage will pay around $510 each year to raise limits from a minimum limit to the 250/500 level
- Teen drivers pay higher rates, costing as high as $403 per month if comprehensive and collision insurance is included
- Drivers considered higher risk who have multiple accidents or major violations may pay on average $1,460 more each year to insure their Ioniq Electric
- Increasing 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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