Hyundai Ioniq Electric Insurance Rates
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Michelle Robbins
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UPDATED: May 12, 2024
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Estimated insurance rates for a Hyundai Ioniq Electric are $1,248 a year for full coverage insurance. Comprehensive costs on average $230, collision costs $400, and liability costs $460. Liability-only insurance costs as little as $510 a year, with high-risk driver insurance costing around $2,704. Teens pay the most at $4,836 a year or more.
Average premium for full coverage: $1,248
Premium estimates by type of coverage:
Rates are based on $500 deductible amounts, 30/60 liability limits, and includes UM/UIM and medical coverage. Rates include averaging for all 50 states and for all Ioniq Electric models.
Insurance Price Range by Risk and Coverage
Using a 40-year-old driver as an example, insurance rates for a Hyundai Ioniq Electric go from as low as $510 for a discount liability-only rate to the much higher price of $2,704 for a driver required to buy high-risk insurance.
Insurance Price Range by Location
Your location can make a big difference on insurance rates. Rural areas are statistically proven to have a lower frequency of physical damage claims than cities with more traffic congestion.
The example below illustrates how rural and urban location affects car insurance rates.
These rate differences illustrate why everyone should compare rates based on a specific location and risk profile, instead of making a decision based on 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.
Rates by State, City, and Model
The chart below illustrates estimated Hyundai Ioniq Electric insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $729
- Drivers who choose higher $1,000 deductibles will pay around $144 each year
- The average rate for a 40-year-old good driver with $500 deductibles is $1,248
- Selecting pricier low deductibles for comprehensive and collision insurance will increase the cost to $1,524
- Drivers with serious driving violations could pay upwards of $2,704 or more
- An auto insurance policy for full coverage for a 16-year-old driver for full coverage may cost $4,836 a year
Insurance prices for a Hyundai Ioniq Electric also have a wide range based on your driving characteristics, the model year and trim level, and policy deductibles and limits.
A more mature driver with no violations or accidents and high deductibles may pay as low as $1,200 per year on average, or $100 per month, for full coverage. Prices are much higher for drivers in their teens, where even good drivers should be prepared to pay upwards of $4,800 a year. View Rates by Age
Where you choose to live makes a big difference in Hyundai Ioniq Electric insurance prices. A 40-year-old driver could pay as low as $820 a year in states like Vermont, Wisconsin, and North Carolina, or have to pay at least $1,690 on average in Michigan, New York, and Florida.
| 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 could save up to $420 annually, whereas buying more liability protection will cost you more. Switching from a 50/100 limit to a 250/500 limit will cost up to $414 more each year. View Rates by Deductible or Liability Limit
If you have a few violations or tend to cause accidents, you are probably paying at a minimum $1,500 to $2,100 additional annually, depending on your age. Hyundai Ioniq Electric insurance for high-risk drivers can cost from 43% to 134% more than the average policy. View High Risk Driver Rates
With such a large range in prices, the only way to figure out exactly what you will pay is to regularly compare prices from multiple companies. Every company calculates prices differently, and prices will be substantially different 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 the Best Cheap Hyundai Ioniq Electric Insurance
Finding better rates on insurance for a Hyundai Ioniq Electric not only requires having a good driving record, but also having a good credit history, paying for small claims out-of-pocket, and insuring your home and auto with the same company. Set aside time to shop around at every policy renewal by getting quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from local independent and exclusive agents.
The next list is a quick review of the data raised in the charts and tables above.
- Insureds who require increased levels of liability coverage will pay approximately $510 annually to go from 30/60 bodily injury limits to 250/500 limits
- It is possible to save as much as $150 per year simply by quoting online well ahead of the renewal date
- Increasing policy deductibles can save around $425 each year
- Drivers age 20 and younger pay higher prices, with premiums being up to $403 per month including comprehensive and collision insurance
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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