Hyundai Ioniq Electric Insurance Rates
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Michelle Robbins
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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 with full coverage. Comprehensive costs on average $230 a year, collision costs $400, and liability coverage is estimated at $460. Liability-only coverage costs approximately $510 a year, with high-risk coverage costing around $2,704. Teens cost the most to insure at $4,836 a year or more.
Average premium for full coverage: $1,248
Policy rates by type of insurance:
These estimates include $500 policy deductibles, 30/60 liability coverage, and includes medical and uninsured motorist coverage. Prices are averaged for all U.S. states and Ioniq Electric trim levels.
Price Range Variability
For a driver around age 40, Hyundai Ioniq Electric insurance rates go from as low as $510 for just liability coverage to a high of $2,704 for a policy for a high-risk driver.
Urban vs. Rural Price Range
Living in a larger city has a large influence on auto insurance rates. Rural areas are shown to have a lower frequency of collision claims than cities with more traffic congestion.
The diagram below illustrates the difference between rural and urban areas on car insurance rates.
The examples above demonstrate why it is important to get quotes based on a specific location and risk profile, rather than using 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.
Detailed Rate Analysis
The chart below details estimated Hyundai Ioniq Electric insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $729
- Choosing higher $1,000 deductibles can save around $1,104 annually
- The average rate for a good driver age 40 with $500 deductibles is $1,248
- Selecting low $100 deductibles for comp and collision coverage will increase the cost to $1,524
- Drivers with serious driving violations could pay upwards of $2,704 or more
- Policy cost for full coverage for a teenage driver may cost $4,836 each year
Insurance rates for a Hyundai Ioniq Electric also range considerably based on your risk profile, the trim level and model year, and policy deductibles and limits.
Older drivers with no violations or accidents and high deductibles may only pay around $1,200 annually on average, or $100 per month, for full coverage. Rates are much higher for teenagers, where even good drivers should be prepared to pay upwards of $4,800 a year. View Rates by Age
Your home state plays a big part in determining prices for Hyundai Ioniq Electric insurance rates. A good driver about age 40 could pay as low as $900 a year in states like New Hampshire, Ohio, and Utah, or have to pay at least $1,690 on average in Florida, Michigan, and New York.
| 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 can save as much as $420 a year, while buying higher liability limits will cost you more. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $414 more each year. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you may be forking out at a minimum $1,500 to $2,100 additional every year, depending on your age. A high-risk auto insurance policy ranges around 43% to 134% more than the average policy. View High Risk Driver Rates
Because rates have so much variability, the best way to find out exactly what you will pay is to get quotes and see how they stack up. Each auto insurer calculates rates differently, and rates will be varied 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 Cheap Hyundai Ioniq Electric Insurance
Finding cheaper rates on auto insurance takes being a good driver, having a good credit history, not filing small claims, and insuring your home and auto with the same company. Set aside time to compare rates every year by getting rate quotes from direct companies like GEICO, Progressive, and Esurance, and also from local insurance agents.
The following list is a brief summary of the coverage data covered above.
- You may be able to save as much as $150 per year simply by quoting early and online
- Increasing comprehensive and collision deductibles can save around $425 each year
- Drivers age 16 to 20 pay higher rates, as much as $403 each month including comprehensive and collision insurance
- Drivers that tend to have accidents or serious violations may be required to pay an average of $1,460 more each year than a safer driver
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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