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 for full coverage insurance. Comprehensive insurance costs an estimated $230 each year, collision insurance costs $400, and liability costs around $460. Liability-only insurance costs as low as $510 a year, and high-risk driver insurance costs $2,704 or more. 16-year-old drivers cost the most to insure at up to $4,836 a year.
Average premium for full coverage: $1,248
Policy rates broken down by type of insurance:
Includes $500 comprehensive and collision deductibles, 30/60 bodily injury liability limits, and includes UM/UIM and medical coverage. Prices are averaged for all 50 states and Ioniq Electric models.
Price Range Variability
For a driver in their 40's, Hyundai Ioniq Electric insurance rates range from as low as $510 for a discount liability-only rate to a high rate of $2,704 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Where you live can have significant affects on the price of insurance. More rural locations are shown to have a lower frequency of physical damage claims than congested cities. The graphic below illustrates how location helps determine insurance prices.
The examples above illustrate why all drivers should compare prices for a targeted area and risk profile, instead of 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.
Rates by State, City, and Model
The chart below illustrates average Hyundai Ioniq Electric insurance rates for other coverage scenarios.
- The best full coverage rate is $729
- Using higher $1,000 deductibles will save approximately $144 each year
- The average rate for a good driver age 40 who has $500 deductibles is $1,248
- Buying low deductibles for physical damage coverage will cost an extra $276 every year
- Drivers with multiple tickets or accidents could pay up to $2,704
- Policy cost for full coverage for a teen driver can cost as much as $4,836 or more
Auto insurance rates for a Hyundai Ioniq Electric also range considerably based on your risk profile, the model year and trim level, and liability limits and deductibles.
More mature drivers with a good driving record and high deductibles may pay as little as $1,200 a year, or $100 per month, for full coverage. Rates are highest for teenagers, where even good drivers will have to pay at least $4,800 a year. View Rates by Age
Your home state has a huge impact on Hyundai Ioniq Electric insurance prices. A driver around age 40 might see rates as low as $820 a year in states like North Carolina, Wisconsin, and Vermont, or at least $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% |
Opting for high physical damage deductibles could cut rates by as much as $420 every year, whereas increasing liability limits will increase premiums. Switching 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 probably paying $1,500 to $2,100 in extra premium every year, depending on your age. Insurance for high-risk drivers can be as much as 43% to 134% more than the average rate. View High Risk Driver Rates
| 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 Cheapest Hyundai Ioniq Electric Insurance
Finding cheaper rates on car insurance requires avoiding accidents and violations, having good credit, being claim-free, and consideration of higher deductibles. Invest time comparing rates at every other renewal by obtaining price quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.
The list below is a recap of the concepts that were covered in the charts and tables above.
- Higher risk drivers that have major violations or accidents pay on average $1,460 more annually for car insurance
- Teenagers are the costliest to insure, possibly costing $403 each month if they have full coverage
- It is possible to save approximately $150 per year just by quoting online in advance
- Increasing comprehensive and collision deductibles can save around $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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