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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The average insurance prices for a Hyundai Ioniq Electric are $1,300 every 12 months for full coverage. Comprehensive insurance costs an estimated $240, collision insurance costs $446, and liability insurance is estimated at $456. Liability-only coverage costs approximately $508 a year, and high-risk coverage costs $2,826 or more. Teenage drivers 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:
Full coverage includes $500 physical damage insurance deductibles, 30/60 liability coverage, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all states and for different Ioniq Electric trim levels.
Price Range Variability
Using a middle-aged driver as an example, Hyundai Ioniq Electric insurance rates range from the cheapest price of $508 for liability-only coverage to a much higher rate of $2,826 for a policy for a high-risk driver.
Urban vs. Rural Price Range
Living in a larger city has a significant impact on insurance rates. More rural locations are shown to have more infrequent accident claims than densely populated cities. The price range example below illustrates how where you live affects insurance prices.
The examples above show why anyone shopping for car insurance should get quotes for a targeted area and their own driving history, rather than relying 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 other coverage scenarios.
- The best discount rate is $752
- Choosing higher $1,000 deductibles can save approximately $156 a year
- The average price for a good driver age 40 who has $500 deductibles is $1,300
- Using more expensive low deductibles for comp and collision coverage costs an extra $304 a year
- High-risk insureds who are prone to accidents and violations could pay up to $2,826
- Policy cost to insure a teen driver with full coverage can cost as much as $5,010 each year
Insurance rates for a Hyundai Ioniq Electric also range considerably based on liability limits and deductibles, your driver profile, and the model year and trim level.
Using high physical damage deductibles can save as much as $460 each year, while increasing your policy's liability limits will increase premiums. Going from a 50/100 liability limit to a 250/500 limit will raise rates by up to $411 more each year. View Rates by Deductible or Liability Limit
An older driver with no violations or accidents and higher deductibles could pay as little as $1,200 annually on average, or $100 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers should be prepared to pay at least $5,000 a year. View Rates by Age
If you have a few points on your driving record or you were responsible for an accident, you could be paying $1,600 to $2,200 additional every year, depending on your age. High-risk driver insurance ranges anywhere from 44% to 137% more than a normal policy. View High Risk Driver Rates
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 $860 a year in states like Iowa, Maine, and Idaho, or be forced to pay as much as $1,860 on average in New York, Louisiana, 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% |
| 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 Shop for More Affordable Hyundai Ioniq Electric Insurance
Finding cheaper rates on Hyundai Ioniq Electric insurance takes being a low-risk driver, having above-average credit, avoid buying unnecessary coverage, and possibly raising deductibles. Take the time to comparison shop every year by obtaining price quotes from direct carriers, and also from several local insurance agents.
The items below are a summary of the coverage data touched on in the above illustrations.
- Drivers can save approximately $150 per year just by shopping early and online
- Increasing comprehensive and collision deductibles could save as much as $450 each year
- Teen drivers are expensive to insure, costing up to $418 each month if full coverage is included
- High-risk drivers who have multiple accidents or major violations pay on average $1,530 more annually to insure their Ioniq Electric
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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