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 auto insurance rates for a Hyundai Ioniq Electric are $1,248 annually for full coverage. Comprehensive costs approximately $230, collision costs $400, and liability is estimated at $460. A liability-only policy costs approximately $510 a year, with high-risk insurance costing around $2,704. 16-year-old drivers 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:
Price estimates include $500 deductible amounts, bodily injury liability limits of 30/60, and includes both medical and UM/UIM coverage. Prices are averaged for all states and for different Ioniq Electric trim levels.
Price Range Variability
For the average driver, Hyundai Ioniq Electric insurance rates go from as cheap as $510 for basic liability insurance to a much higher rate of $2,704 for a driver who has had serious violations or accidents.
Urban vs. Rural Price Range
Living in a larger city can make a big difference on car insurance rates. Rural locations are shown to have fewer accident claims than congested cities.
The price range example below illustrates how location impacts auto insurance prices.
The examples above show why anyone shopping for car insurance should get quotes using their specific location and their own personal driving habits, instead of making a decision based 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
- Choosing higher $1,000 deductibles can save $144 a year
- The estimated rate for a good driver age 40 who chooses $500 deductibles is $1,248
- Buying more expensive low deductibles for comp and collision coverage will cost $1,524
- Higher-risk drivers with multiple tickets or accidents could pay around $2,704 or more
- Policy cost with full coverage for a 16-year-old driver with full coverage can cost $4,836 each year
Car insurance rates for a Hyundai Ioniq Electric also range considerably based on the model year and trim level, your driver profile, and physical damage deductibles and liability limits.
An older driver with no driving violations and high physical damage deductibles may pay as low as $1,200 annually on average, or $100 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they will be charged in the ballpark of $4,800 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you could be paying anywhere from $1,500 to $2,100 extra every year, depending on your age. High-risk driver insurance ranges from 43% to 134% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles can save as much as $420 annually, while increasing your policy's liability limits will push rates upward. Going from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $414 extra every 12 months. View Rates by Deductible or Liability Limit
Your home state plays a big part in determining prices for Hyundai Ioniq Electric insurance prices. A good driver about age 40 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% |
Because rates have so much variability, the only way to know who has the cheapest car insurance rates is to compare rates from multiple companies. Each auto insurer utilizes a different rate formula, so rate quotes will be varied 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 Cheaper Hyundai Ioniq Electric Insurance
Finding cheaper rates on insurance for a Hyundai Ioniq Electric takes having a good driving record, having a good credit score, avoid buying unnecessary coverage, and avoiding coverage lapses. Spend time shopping around every other policy renewal by getting rate quotes from direct carriers like Progressive, GEICO, and Esurance, and also from several local insurance agents.
The next list is a condensed summary of the ideas that were touched on above.
- Drivers age 20 and younger pay the highest auto insurance rates, costing up to $403 each month if comprehensive and collision insurance 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 comprehensive and collision deductibles could save up to $425 each year
- Drivers can save around $150 per year simply by shopping early and online
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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