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 auto insurance rates for a Hyundai Ioniq Electric are $1,248 annually for full coverage. Comprehensive insurance costs approximately $230, collision insurance costs $400, and liability costs around $460. A liability-only policy costs as low as $510 a year, and high-risk insurance costs $2,704 or more. Teenage drivers pay the most at up to $4,836 a year.
Average premium for full coverage: $1,248
Premium estimates by type of coverage:
Price estimates include $500 deductible amounts, minimum liability limits, and includes medical/PIP and uninsured motorist coverage. Rates include averaging for all states and for different Ioniq Electric trim levels.
Insurance Price Range by Risk and Coverage
For the average driver, insurance rates for a Hyundai Ioniq Electric range from as cheap as $510 for liability-only coverage to a much higher rate of $2,704 for high-risk insurance.
Insurance Price Range by Location
Where you live can make a big difference on car insurance rates. Rural locations are statistically proven to have fewer accident claims than densely populated cities. The price range example below illustrates how location impacts auto insurance prices.
These rate differences show why anyone shopping for car insurance should compare prices using their specific location and their own personal driving habits, instead of making a decision based on average rates.
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 Charts and Tables
The chart below shows average Hyundai Ioniq Electric insurance rates for additional coverage and risk scenarios.
- The best discount rate is $729
- Using higher $1,000 deductibles will save $144 a year
- The estimated rate for a 40-year-old good driver who chooses $500 deductibles is $1,248
- Using more expensive low deductibles for physical damage coverage costs an additional $276 annually
- High-risk insureds who are prone to accidents and violations could pay around $2,704
- An auto insurance policy with full coverage for a 16-year-old driver with full coverage can cost $4,836 or more
Auto insurance prices for a Hyundai Ioniq Electric also have a wide range based on the model of your Ioniq Electric, your driver profile, and physical damage deductibles and liability limits.
An older driver with a good driving record and high physical damage deductibles may pay as low as $1,200 a year, or $100 per month, for full coverage. Prices are much higher for drivers in their teens, 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 have a few violations or you caused a few accidents, you could be paying anywhere from $1,500 to $2,100 in extra premium annually, depending on your age. High-risk driver insurance can be from 43% to 134% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles could cut prices by as much as $420 annually, while increasing your policy's liability limits will push prices upward. Going from a 50/100 bodily injury limit to a 250/500 limit will cost up to $414 extra every year. View Rates by Deductible or Liability Limit
Where you choose to live has a huge impact on Hyundai Ioniq Electric insurance prices. A driver around age 40 might see prices as low as $820 a year in states like Iowa, Maine, and Idaho, or be forced to pay as much as $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% |
| 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 Cheaper Hyundai Ioniq Electric Insurance
Finding better rates on insurance for a Hyundai Ioniq Electric requires having a good driving record, having above-average credit, not filing small claims, and possibly higher deductibles. Spend time shopping around every couple of years by getting rate quotes from direct carriers, and also from several local insurance agents.
The next list is a condensed summary of the material that was touched on above.
- Insureds who purchase increased levels of liability coverage will pay an extra $510 each year to increase from 30/60 bodily injury limits to higher 250/500 limits
- Drivers age 20 and younger have the highest car insurance prices, as much as $403 per month if full coverage is included
- Drivers considered higher risk with multiple at-fault accidents pay on average $1,460 more per year to buy Hyundai Ioniq Electric insurance
- Increasing policy 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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