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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Estimated insurance prices for a Hyundai Ioniq Electric are $1,248 every 12 months with full coverage. Comprehensive costs around $230 a year, collision costs $400, and liability insurance costs $460. Liability-only coverage costs as little as $510 a year, with high-risk coverage costing around $2,704. 16-year-old drivers pay the most at $4,836 a year or more.
Average premium for full coverage: $1,248
Premium estimates for type of coverage:
Prices include $500 physical damage deductibles, 30/60 split liability limits, and includes additional medical/uninsured motorist coverage. Rates include averaging for all U.S. states and Ioniq Electric trim levels.
Insurance Price Range by Risk and Coverage
For the average driver, insurance rates for a Hyundai Ioniq Electric go from the cheapest price of $510 for just the minimum liability insurance to a high of $2,704 for a high-risk insurance policy.
Insurance Price Range by Location
Your location has a significant impact on insurance rates. Areas with sparse population are statistically proven to have more infrequent collision claims than congested cities.
The diagram below illustrates how location impacts auto insurance rates.
These rate differences demonstrate why it is important to compare rates for a specific zip code and their own driving history, rather than relying 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 details estimated Hyundai Ioniq Electric insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $729
- Drivers who choose higher $1,000 deductibles will pay about $1,104 annually
- The average price for a 40-year-old good driver using $500 deductibles is $1,248
- Buying low $100 deductibles for comprehensive and collision insurance increases the price to $1,524
- High risk drivers with multiple tickets or accidents could pay at least $2,704 or more
- An auto insurance policy to insure a teen driver can be $4,836 a year
Insurance prices for a Hyundai Ioniq Electric also have a wide range based on physical damage deductibles and liability limits, your driving record, and the trim level and model year.
Opting for high physical damage deductibles could save up to $420 each year, while buying higher liability limits will increase prices. Moving from a 50/100 liability limit to a 250/500 limit will cost up to $414 more per year. View Rates by Deductible or Liability Limit
Older drivers with a clean driving record and higher deductibles could pay as little as $1,200 per year on average, or $100 per month, for full coverage. Prices are highest for drivers in their teens, since even excellent drivers can expect to pay as much as $4,800 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you may be forking out at least $1,500 to $2,100 extra annually, depending on your age. A high-risk auto insurance policy can cost anywhere from 43% to 134% more than the average rate. View High Risk Driver Rates
Where you choose to live makes a big difference in Hyundai Ioniq Electric insurance rates. A 40-year-old driver could pay as low as $900 a year in states like New Hampshire, Ohio, and Utah, or at least $1,690 on average in Florida, Michigan, 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% |
With such a large range in prices, the best way to find out your exact price is to get quotes from as many companies as possible. Every company utilizes a different rate formula, so the prices will be substantially 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 Shop for the Right Hyundai Ioniq Electric Insurance
Finding better rates on Hyundai Ioniq Electric insurance not only requires being a safe and courteous driver, but also having good credit, being claim-free, and insuring your home and auto with the same company. Spend time shopping around at least every other year by getting rate quotes from direct companies, and also from several local insurance agents.
Below is a quick rundown of the car insurance concepts touched on above.
- High-risk drivers with reckless driving or DUI convictions pay on average $1,460 more every year for auto insurance
- You may be able to save up to $150 per year simply by quoting early and online
- Increasing policy deductibles could save as much as $425 each year
- Drivers who may need higher levels of liability will pay around $510 every year to go from 30/60 bodily injury limits to a 250/500 level
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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