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 $1,300 a year for full coverage insurance. Comprehensive insurance costs an estimated $240, collision insurance costs $446, and liability insurance is $456. Liability-only coverage costs around $508 a year, and high-risk coverage costs $2,826 or more. Teens cost the most to insure at up to $5,010 a year.
Average premium for full coverage: $1,300
Policy rates broken down by type of insurance:
These estimates include $500 policy deductibles, 30/60 split liability limits, and includes both medical and UM/UIM coverage. Prices are averaged for all 50 states and for different Ioniq Electric trim levels.
Price Range Variability
For an average driver, Hyundai Ioniq Electric insurance rates range from as low as $508 for basic liability insurance to a much higher rate of $2,826 for a high-risk insurance policy.
Urban vs. Rural Price Range
Choosing to live in a large city has a significant impact on the price of insurance. More rural locations are shown to have a lower frequency of physical damage claims than cities with more traffic congestion. The price range example below illustrates the effect of geographic area on insurance prices.
The examples above illustrate why anyone shopping for car insurance should compare rates quotes for a targeted area and risk profile, rather than relying 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.
Rate Comparisons
The chart below illustrates average Hyundai Ioniq Electric insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $752
- Raising to $1,000 deductibles will save approximately $156 each year
- The average rate for a good driver age 40 who has $500 deductibles is $1,300
- Selecting more expensive low deductibles will cost an extra $304 a year
- Higher-risk drivers with serious driving violations could pay up to $2,826
- Policy cost for full coverage for a teen driver with full coverage can cost as much as $5,010
Insurance rates for a Hyundai Ioniq Electric also range considerably based on your risk profile, the model year and trim level, and liability limits and deductibles.
An older driver with no violations or accidents and high deductibles could pay as little as $1,200 every 12 months on average, or $100 per month, for full coverage. Rates are much higher for teenagers, where even good drivers should be prepared to pay at least $5,000 a year. View Rates by Age
Your home state also has a big influence on Hyundai Ioniq Electric insurance rates. A middle-age driver might find rates as low as $850 a year in states like North Carolina, Wisconsin, and Vermont, or have to pay at least $1,760 on average in Florida, New York, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,176 | -$124 | -9.5% |
| Alaska | $998 | -$302 | -23.2% |
| Arizona | $1,078 | -$222 | -17.1% |
| Arkansas | $1,300 | -$0 | 0.0% |
| California | $1,482 | $182 | 14.0% |
| Colorado | $1,242 | -$58 | -4.5% |
| Connecticut | $1,336 | $36 | 2.8% |
| Delaware | $1,472 | $172 | 13.2% |
| Florida | $1,628 | $328 | 25.2% |
| Georgia | $1,200 | -$100 | -7.7% |
| Hawaii | $934 | -$366 | -28.2% |
| Idaho | $878 | -$422 | -32.5% |
| Illinois | $968 | -$332 | -25.5% |
| Indiana | $978 | -$322 | -24.8% |
| Iowa | $878 | -$422 | -32.5% |
| Kansas | $1,236 | -$64 | -4.9% |
| Kentucky | $1,774 | $474 | 36.5% |
| Louisiana | $1,924 | $624 | 48.0% |
| Maine | $804 | -$496 | -38.2% |
| Maryland | $1,072 | -$228 | -17.5% |
| Massachusetts | $1,040 | -$260 | -20.0% |
| Michigan | $2,260 | $960 | 73.8% |
| Minnesota | $1,088 | -$212 | -16.3% |
| Mississippi | $1,556 | $256 | 19.7% |
| Missouri | $1,152 | -$148 | -11.4% |
| Montana | $1,398 | $98 | 7.5% |
| Nebraska | $1,024 | -$276 | -21.2% |
| Nevada | $1,558 | $258 | 19.8% |
| New Hampshire | $936 | -$364 | -28.0% |
| New Jersey | $1,454 | $154 | 11.8% |
| New Mexico | $1,152 | -$148 | -11.4% |
| New York | $1,370 | $70 | 5.4% |
| North Carolina | $750 | -$550 | -42.3% |
| North Dakota | $1,064 | -$236 | -18.2% |
| Ohio | $898 | -$402 | -30.9% |
| Oklahoma | $1,336 | $36 | 2.8% |
| Oregon | $1,192 | -$108 | -8.3% |
| Pennsylvania | $1,240 | -$60 | -4.6% |
| Rhode Island | $1,736 | $436 | 33.5% |
| South Carolina | $1,176 | -$124 | -9.5% |
| South Dakota | $1,096 | -$204 | -15.7% |
| Tennessee | $1,138 | -$162 | -12.5% |
| Texas | $1,566 | $266 | 20.5% |
| Utah | $964 | -$336 | -25.8% |
| Vermont | $892 | -$408 | -31.4% |
| Virginia | $780 | -$520 | -40.0% |
| Washington | $1,004 | -$296 | -22.8% |
| West Virginia | $1,192 | -$108 | -8.3% |
| Wisconsin | $902 | -$398 | -30.6% |
| Wyoming | $1,160 | -$140 | -10.8% |
Choosing higher comprehensive and collision insurance deductibles can reduce rates by up to $460 each year, while increasing your policy's liability limits will increase premiums. Switching from a 50/100 limit to a 250/500 limit will raise rates by up to $411 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 are probably paying $1,600 to $2,200 additional every year, depending on your age. High-risk driver insurance is expensive and can cost anywhere from 44% to 137% more than the average policy. View High Risk Driver Rates
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2022 Hyundai Ioniq Electric | $284 | $552 | $416 | $1,410 |
| 2021 Hyundai Ioniq Electric | $274 | $530 | $430 | $1,392 |
| 2020 Hyundai Ioniq Electric | $260 | $512 | $442 | $1,372 |
| 2019 Hyundai Ioniq Electric | $250 | $474 | $452 | $1,334 |
| 2018 Hyundai Ioniq Electric | $240 | $446 | $456 | $1,300 |
| 2017 Hyundai Ioniq Electric | $230 | $400 | $460 | $1,248 |
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 Hyundai Ioniq Electric insurance consists of avoiding accidents and claims, having a good credit history, being claim-free, and possibly raising deductibles. Take the time to compare rates at least every other year by obtaining price quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.
The points below are a brief summary of the car insurance concepts covered in the above illustrations.
- High-risk drivers that tend to have accidents or serious violations pay on average $1,530 more annually to insure a Hyundai Ioniq Electric
- It is possible to save approximately $150 per year just by shopping early and online
- Increasing comprehensive and collision deductibles can save around $450 each year
- Drivers who want increased liability limits will pay approximately $500 annually to raise from a 30/60 limit to 250/500 limits
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $5,010 |
| 20 | $3,016 |
| 30 | $1,344 |
| 40 | $1,300 |
| 50 | $1,190 |
| 60 | $1,166 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $1,604 |
| $250 | $1,462 |
| $500 | $1,300 |
| $1,000 | $1,144 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,300 |
| 50/100 | $1,391 |
| 100/300 | $1,505 |
| 250/500 | $1,802 |
| 100 CSL | $1,437 |
| 300 CSL | $1,688 |
| 500 CSL | $1,870 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $7,128 |
| 20 | $4,808 |
| 30 | $2,874 |
| 40 | $2,826 |
| 50 | $2,702 |
| 60 | $2,678 |
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 | $69 |
| Multi-vehicle | $70 |
| Homeowner | $21 |
| 5-yr Accident Free | $93 |
| 5-yr Claim Free | $84 |
| Paid in Full/EFT | $57 |
| Advance Quote | $63 |
| Online Quote | $91 |
| Total Discounts | $548 |
Discounts are estimated and may not be available from every company or in every state.
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