Hyundai Ioniq Electric Insurance Rates
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UPDATED: May 12, 2024
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The average auto insurance rates for a Hyundai Ioniq Electric are $1,334 annually with full coverage. Comprehensive insurance costs an estimated $250, collision costs $474, and liability coverage is $452. Buying just liability costs around $504 a year, with insurance for high-risk drivers costing $2,900 or more. Teen drivers cost the most to insure at $5,112 a year or more.
Average premium for full coverage: $1,334
Policy rates broken down by type of insurance:
Rate estimates include $500 deductibles, minimum liability limits, and includes uninsured motorist and medical coverage. Prices are averaged for all U.S. states and for all Ioniq Electric models.
Price Range Variability
For the normal driver, Hyundai Ioniq Electric insurance rates go from as cheap as $504 for the bare minimum liability coverage to the much higher price of $2,900 for high-risk insurance.
Urban vs. Rural Price Range
Choosing to live in a large city has a large influence on car insurance rates. More rural locations are shown to have fewer collision claims than larger metro areas.
The example below illustrates how geographic area affects insurance prices.
The examples above demonstrate why everyone should compare rates quotes for a targeted area and their own personal driving habits, rather than using price 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 Information
The chart below details estimated Hyundai Ioniq Electric insurance rates for other coverage scenarios.
- The lowest rate with discounts is $768
- Raising to $1,000 deductibles will save approximately $164 annually
- The estimated rate for a good driver age 40 who has $500 deductibles is $1,334
- Choosing pricier low deductibles costs an additional $320 each year
- Unlucky drivers with multiple violations and an at-fault accident could pay up to $2,900 or more
- Policy cost with full coverage for a teenage driver for full coverage can cost as much as $5,112
Insurance rates for a Hyundai Ioniq Electric also range considerably based on the model year and trim level, your driving record, and liability limits and deductibles.
A more mature driver with a clean driving record and high physical damage deductibles may only pay around $1,200 every 12 months on average, or $100 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they can expect to pay at least $5,100 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you may be forking out $1,600 to $2,200 extra every year, depending on your age. Hyundai Ioniq Electric insurance for high-risk drivers is expensive and can cost around 43% to 134% more than average. View High Risk Driver Rates
Choosing high deductibles can reduce rates by up to $490 a year, whereas buying more liability protection will increase premiums. Moving from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $407 more per year. View Rates by Deductible or Liability Limit
Your home state also has a big influence on Hyundai Ioniq Electric insurance rates. A middle-age driver might find rates as low as $960 a year in states like Utah, Ohio, and New Hampshire, or as much as $1,800 on average in New York, Michigan, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,206 | -$128 | -9.6% |
| Alaska | $1,024 | -$310 | -23.2% |
| Arizona | $1,106 | -$228 | -17.1% |
| Arkansas | $1,334 | -$0 | 0.0% |
| California | $1,518 | $184 | 13.8% |
| Colorado | $1,272 | -$62 | -4.6% |
| Connecticut | $1,372 | $38 | 2.8% |
| Delaware | $1,508 | $174 | 13.0% |
| Florida | $1,668 | $334 | 25.0% |
| Georgia | $1,230 | -$104 | -7.8% |
| Hawaii | $956 | -$378 | -28.3% |
| Idaho | $902 | -$432 | -32.4% |
| Illinois | $994 | -$340 | -25.5% |
| Indiana | $1,004 | -$330 | -24.7% |
| Iowa | $898 | -$436 | -32.7% |
| Kansas | $1,266 | -$68 | -5.1% |
| Kentucky | $1,818 | $484 | 36.3% |
| Louisiana | $1,974 | $640 | 48.0% |
| Maine | $822 | -$512 | -38.4% |
| Maryland | $1,100 | -$234 | -17.5% |
| Massachusetts | $1,068 | -$266 | -19.9% |
| Michigan | $2,316 | $982 | 73.6% |
| Minnesota | $1,116 | -$218 | -16.3% |
| Mississippi | $1,596 | $262 | 19.6% |
| Missouri | $1,184 | -$150 | -11.2% |
| Montana | $1,432 | $98 | 7.3% |
| Nebraska | $1,052 | -$282 | -21.1% |
| Nevada | $1,598 | $264 | 19.8% |
| New Hampshire | $962 | -$372 | -27.9% |
| New Jersey | $1,490 | $156 | 11.7% |
| New Mexico | $1,180 | -$154 | -11.5% |
| New York | $1,404 | $70 | 5.2% |
| North Carolina | $768 | -$566 | -42.4% |
| North Dakota | $1,092 | -$242 | -18.1% |
| Ohio | $922 | -$412 | -30.9% |
| Oklahoma | $1,368 | $34 | 2.5% |
| Oregon | $1,220 | -$114 | -8.5% |
| Pennsylvania | $1,272 | -$62 | -4.6% |
| Rhode Island | $1,778 | $444 | 33.3% |
| South Carolina | $1,208 | -$126 | -9.4% |
| South Dakota | $1,124 | -$210 | -15.7% |
| Tennessee | $1,168 | -$166 | -12.4% |
| Texas | $1,608 | $274 | 20.5% |
| Utah | $986 | -$348 | -26.1% |
| Vermont | $912 | -$422 | -31.6% |
| Virginia | $798 | -$536 | -40.2% |
| Washington | $1,030 | -$304 | -22.8% |
| West Virginia | $1,220 | -$114 | -8.5% |
| Wisconsin | $922 | -$412 | -30.9% |
| Wyoming | $1,188 | -$146 | -10.9% |
Because rates have so much variability, the best way to find out which auto insurance is cheapest is to regularly compare rates and see how they stack up. Every auto insurance company uses a different rate calculation, so the rates will be varied between companies.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2022 Hyundai Ioniq Electric | $294 | $566 | $398 | $1,416 |
| 2021 Hyundai Ioniq Electric | $284 | $552 | $416 | $1,410 |
| 2020 Hyundai Ioniq Electric | $274 | $530 | $430 | $1,392 |
| 2019 Hyundai Ioniq Electric | $260 | $512 | $442 | $1,372 |
| 2018 Hyundai Ioniq Electric | $250 | $474 | $452 | $1,334 |
| 2017 Hyundai Ioniq Electric | $240 | $446 | $456 | $1,300 |
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 Buy the Best Hyundai Ioniq Electric Insurance
Finding cheaper rates on auto insurance consists of not taking risks behind the wheel, having a good credit history, not filing small claims, and taking advantage of discounts. Invest the time to compare rates every couple of years by obtaining price quotes from direct companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.
The following is a brief recap of the material that was presented in the illustrations above.
- Consumers who want higher liability limits will pay about $500 every year to raise from a 30/60 limit to higher 250/500 limits
- Teens are charged the highest rates, as much as $426 each month including comprehensive and collision insurance
- Drivers who tend to receive serious violations pay on average $1,570 more annually for Ioniq Electric insurance
- Increasing comprehensive and collision deductibles could save up to $475 each year
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $5,112 |
| 20 | $3,094 |
| 30 | $1,382 |
| 40 | $1,334 |
| 50 | $1,220 |
| 60 | $1,196 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $1,654 |
| $250 | $1,504 |
| $500 | $1,334 |
| $1,000 | $1,170 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,334 |
| 50/100 | $1,424 |
| 100/300 | $1,537 |
| 250/500 | $1,831 |
| 100 CSL | $1,470 |
| 300 CSL | $1,718 |
| 500 CSL | $1,899 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $7,280 |
| 20 | $4,934 |
| 30 | $2,952 |
| 40 | $2,900 |
| 50 | $2,770 |
| 60 | $2,746 |
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 | $71 |
| Multi-vehicle | $72 |
| Homeowner | $21 |
| 5-yr Accident Free | $96 |
| 5-yr Claim Free | $87 |
| Paid in Full/EFT | $59 |
| Advance Quote | $66 |
| Online Quote | $94 |
| Total Discounts | $566 |
Discounts are estimated and may not be available from every company or in every state.
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