Hyundai Ioniq Electric Insurance Rates
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Michelle Robbins
Licensed Insurance Agent
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 insurance rates for a Hyundai Ioniq Electric are $1,248 a year including full coverage. Comprehensive costs an estimated $230, collision costs $400, and liability coverage is $460. A liability-only policy costs around $510 a year, with high-risk insurance costing around $2,704. Teenage drivers pay the most at $4,836 a year or more.
Average premium for full coverage: $1,248
Premium estimates broken down by type of coverage:
Full coverage includes $500 deductibles, liability coverage up to 30/60, and includes additional medical/uninsured motorist coverage. Rates include averaging for all 50 U.S. states and for different Ioniq Electric trim levels.
Insurance Price Range by Risk and Coverage
For a 40-year-old driver, insurance rates for a Hyundai Ioniq Electric go from the low end price of $510 for just the minimum liability insurance to a much higher rate of $2,704 for a high-risk driver policy.
Insurance Price Range by Location
Choosing to live in a large city has a large influence on the price of auto insurance. More rural locations are statistically proven to have lower incidents of comprehensive and collision claims than densely populated cities.
The price range example below illustrates how your location can change insurance prices.
These rate differences highlight why anyone shopping for car insurance should compare rates quotes for a targeted area, rather than using 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 Rate Analysis
The chart below breaks down estimated Hyundai Ioniq Electric insurance rates for other coverage scenarios.
- The best discount rate is $729
- Raising to $1,000 deductibles will save approximately $144 every year
- The estimated price for a 40-year-old good driver who has $500 deductibles is $1,248
- Using more expensive low deductibles bumps up the cost to $1,524
- Unlucky drivers who are prone to accidents and violations could pay up to $2,704 or more
- An auto insurance policy that insures a teenage driver with full coverage can cost as much as $4,836
Auto insurance prices for a Hyundai Ioniq Electric also have a wide range based on the model year and trim level, your driving record and age, and liability limits and deductibles.
If you have a few violations or you caused an accident, you are likely paying $1,500 to $2,100 in extra premium annually, depending on your age. High-risk driver insurance is expensive and can cost around 43% to 134% more than a normal policy. View High Risk Driver Rates
An older driver with a good driving record and higher comprehensive and collision deductibles may only pay around $1,200 every 12 months on average, or $100 per month, for full coverage. Prices are much higher for drivers in their teens, since even teens with perfect driving records will have to pay at least $4,800 a year. View Rates by Age
Where you choose to live also has a big influence on Hyundai Ioniq Electric insurance rates. A middle-age driver might find prices as low as $960 a year in states like Vermont, New Hampshire, and Missouri, or be forced to pay as much as $1,780 on average in Louisiana, New York, 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% |
Using high physical damage deductibles can reduce prices by up to $420 a year, while increasing your policy's liability limits will increase premiums. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $414 extra every year. View Rates by Deductible or Liability Limit
With such a large range in prices, the best way to figure out which insurance company is cheapest is to compare prices and see how they stack up. Every auto insurance company uses a different method to calculate prices, and quoted prices will be substantially different.
| 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 More Affordable Hyundai Ioniq Electric Insurance
Finding better rates on auto insurance consists of not taking risks behind the wheel, maintaining a good credit score, refrain from filing small claims, and qualifying for all possible discounts. Compare prices every time your policy renews by requesting quotes from direct car insurance companies, and also from your local car insurance providers.
The following is a summary of the information illustrated above.
- You may be able to save approximately $150 per year simply by shopping early and online
- Teens are the costliest to insure, with the cost nearing $403 per month if the policy includes full coverage
- Increasing policy deductibles can save approximately $425 each year
- Drivers who have multiple accidents or major violations could be charged and average of $1,460 more annually for Ioniq Electric insurance
- Consumers who want higher liability limits will pay an extra $510 per year to raise from 30/60 bodily injury limits to the 250/500 level
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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