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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U.S. average insurance rates for a Hyundai Ioniq Electric are $1,248 a year for full coverage insurance. Comprehensive costs an estimated $230 each year, collision costs $400, and liability costs around $460. Buying just liability costs as low as $510 a year, with insurance for high-risk drivers costing around $2,704. Teen drivers pay the highest rates at $4,836 a year or more.
Average premium for full coverage: $1,248
Price estimates broken down by individual coverage:
Full coverage includes $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes both medical and UM/UIM coverage. Estimates are averaged for all 50 states and Ioniq Electric models.
Price Range from Low to High
For a driver in their 40's, Hyundai Ioniq Electric insurance prices go from the low end price of $510 for basic liability insurance to a high rate of $2,704 for a policy for a high-risk driver.
Geographic Price Range
Where you live can make a big difference on the price of insurance. More rural locations have lower incidents of physical damage claims than larger metro areas.
The graphic below illustrates how location helps determine insurance prices.
The ranges above illustrate why all drivers should compare prices for a targeted area, instead of making a decision based on price 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 illustrates estimated Hyundai Ioniq Electric insurance rates for other coverage scenarios.
- The lowest rate with discounts is $729
- Using higher $1,000 deductibles will save approximately $144 each year
- The estimated price for the average middle-age driver who has $500 deductibles is $1,248
- Choosing low deductibles for physical damage coverage bumps up the cost to $1,524
- High-risk insureds with multiple violations and an at-fault accident could pay up to $2,704 or more
- The price that insures a 16-year-old driver can cost as much as $4,836 or more
Insurance prices for a Hyundai Ioniq Electric are also quite variable based on the trim level and model year, your age and driving record, and liability limits and deductibles.
If you have some driving violations or you caused an accident, you are probably paying $1,500 to $2,100 additional each year, depending on your age. Insurance for high-risk drivers can be from 43% to 134% more than average. View High Risk Driver Rates
More mature drivers with no violations or accidents and higher comprehensive and collision deductibles may pay as low as $1,200 a year for full coverage. Prices are highest for teenage drivers, since even teens with perfect driving records should be prepared to pay at least $4,800 a year. View Rates by Age
The state you live in has a huge impact on Hyundai Ioniq Electric insurance prices. A driver around age 40 might see prices as low as $820 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $1,690 on average in Florida, 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% |
Choosing high deductibles could cut prices by as much as $420 annually, whereas increasing liability limits will increase premiums. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $414 more each year. View Rates by Deductible or Liability Limit
Since prices can be so different, the only way to figure out which car insurance is cheapest is to do a rate comparison from multiple companies. Each insurance company uses a different rate calculation, and prices may be quite 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
Getting lower rates on insurance for a Hyundai Ioniq Electric requires avoiding accidents and violations, having a good credit score, not filing small claims, and maximizing policy discounts. Shop around every year by getting quotes from direct insurance companies, and also from local insurance agencies.
The list below is a summary of the coverage data covered in the charts and tables above.
- It is possible to save approximately $150 per year simply by quoting online in advance
- Increasing physical damage deductibles can save approximately $425 each year
- Teenagers are expensive to insure, as much as $403 a month if comprehensive and collision insurance is included
- Drivers considered higher risk who have multiple accidents or major violations may have to pay on average $1,460 more annually for car insurance
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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