Hyundai Ioniq Electric Insurance Rates
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Michelle Robbins
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UPDATED: May 12, 2024
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Average auto insurance rates for a Hyundai Ioniq Electric are $1,248 annually for full coverage. Comprehensive costs approximately $230 a year, collision costs $400, and liability insurance costs $460. Buying just liability costs as little as $510 a year, with insurance for high-risk drivers costing around $2,704. 16-year-old drivers receive the highest rates at $4,836 a year or more.
Average premium for full coverage: $1,248
Rate estimates by individual coverage type:
Prices include $500 physical damage insurance deductibles, minimum liability limits, and includes both medical and UM/UIM coverage. Rates are averaged for all states and Ioniq Electric trim levels.
Price Range by Coverage and Risk
For the average 40-year-old driver, prices range go from as cheap as $510 for basic liability insurance to a high of $2,704 for high-risk insurance.
Price Range by Location
Your location has a significant impact on car insurance rates. Rural locations tend to have fewer accident claims than congested cities.
The diagram below illustrates the difference location can make on auto insurance prices.
These examples show why it is important to compare rates using their specific location and their own personal driving habits, 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.
Rate Comparisons
The chart below shows estimated Hyundai Ioniq Electric insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $729
- Drivers who choose higher $1,000 deductibles will pay $1,104 a year
- The estimated rate for a 40-year-old driver who chooses $500 deductibles is $1,248
- Buying low $100 deductibles for comprehensive and collision insurance will cost $1,524
- High risk drivers with multiple tickets or accidents could pay around $2,704 or more
- The cost with full coverage for a teen driver can cost $4,836 a year
Auto insurance rates for a Hyundai Ioniq Electric can also vary considerably based on the trim level of your Ioniq Electric, your driver profile, and physical damage deductibles and liability limits.
Older drivers with a good driving record and high physical damage deductibles could pay as little as $1,200 per year on average for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they will have to pay in the ballpark of $4,800 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you could be paying anywhere from $1,500 to $2,100 in extra premium per year, 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
Opting for high physical damage deductibles could save up to $420 each year, while buying higher liability limits will push rates upward. Going from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $414 extra every year. View Rates by Deductible or Liability Limit
Where you live makes a big difference in Hyundai Ioniq Electric insurance rates. A 40-year-old driver could pay as low as $820 a year in states like Iowa, Maine, and Idaho, or at least $1,780 on average in New York, Louisiana, 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% |
With so much variability in rates, the only way to know who has the cheapest car insurance rates is to get quotes from as many companies as possible. Every company utilizes a different rate formula, and quoted rates can be significantly different between companies.
| 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 Buy the Right Hyundai Ioniq Electric Insurance
Saving money on Hyundai Ioniq Electric insurance not only requires being a low-risk driver, but also having above-average credit, eliminating unneeded coverage, and not having any coverage lapses. Make time to compare rates every couple of years by obtaining price quotes from direct carriers like Progressive and GEICO, and also from several local insurance agents.
The items below are a quick rundown of the material that was touched on in this article.
- Drivers who purchase more liability coverage will pay around $510 each year to go from a minimum limit to higher 250/500 limits
- Teen drivers have the highest car insurance rates, costing as high as $403 per month if full coverage is included
- High-risk drivers with reckless driving or DUI convictions pay on average $1,460 more per year to insure their Ioniq Electric
- Increasing deductibles could save up to $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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