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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Average auto insurance rates for a Hyundai Ioniq Electric are $1,248 annually for full coverage insurance. Comprehensive insurance costs around $230 each year, collision costs $400, and liability is $460. A policy with just liability insurance costs around $510 a year, with coverage for high-risk drivers costing $2,704 or more. Teenage drivers receive the highest rates at $4,836 a year or more.
Average premium for full coverage: $1,248
Rate estimates for individual coverage type:
Rates are based on $500 deductibles, bodily injury liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates are averaged for all 50 states and Ioniq Electric models.
Price Range by Coverage and Risk
For the average 40-year-old driver, prices range go from as cheap as $510 for minimum levels of liability insurance to a high rate of $2,704 for a driver who has had serious violations or accidents.
Price Range by Location
Choosing to live in a large city can make a big difference on car insurance rates. Areas with sparse population tend to have fewer physical damage claims than densely populated cities.
The graphic below illustrates the difference location can make on auto insurance rates.
These examples illustrate why all drivers should compare rates quotes for a specific zip code and their own personal driving habits, instead of making a decision based 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 Rate Details
The chart below illustrates estimated Hyundai Ioniq Electric insurance rates for additional coverage choices and driver risks.
- The best discount rate is $729
- Raising to $1,000 deductibles will save about $144 each year
- The estimated rate for a 40-year-old driver using $500 deductibles is $1,248
- Using low deductibles costs an additional $276 annually
- Drivers who are prone to accidents and violations could pay at least $2,704 or more
- The cost with full coverage for a 16-year-old driver can be $4,836
Insurance rates for a Hyundai Ioniq Electric can also vary considerably based on the trim level of your Ioniq Electric, your risk profile, and deductibles and policy limits.
More mature drivers with no violations or accidents and high physical damage deductibles may pay as low as $1,200 every 12 months on average for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they should be prepared to pay as much as $4,800 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are probably paying at least $1,500 to $2,100 additional per year, depending on your age. Insurance for high-risk drivers is expensive and can cost from 43% to 134% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles can reduce rates by up to $420 annually, whereas increasing liability limits will increase rates. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $414 more each year. View Rates by Deductible or Liability Limit
Where you live also has a big influence on Hyundai Ioniq Electric insurance prices. A middle-age driver might find rates as low as $820 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $1,690 on average in Michigan, New York, and Florida.
| 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% |
With so much variability in rates, the only way to figure out your exact price is to do a rate comparison from multiple companies. Every auto insurance company uses a different method to calculate rates, and rates can be significantly different 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 the Best Cheap Hyundai Ioniq Electric Insurance
Saving money on insurance for a Hyundai Ioniq Electric consists of not taking risks behind the wheel, having good credit, avoid buying unnecessary coverage, and taking advantage of discounts. Make time to compare rates every other policy renewal by requesting rates from direct insurance companies like Progressive and GEICO, and also from several local insurance agents.
The following is a quick review of the ideas that were touched on in this article.
- Teens are charged the highest rates, costing up to $403 per month if they have full coverage
- Drivers considered higher risk with a DUI or reckless driving violation pay on average $1,460 more every year for Ioniq Electric insurance
- Increasing deductibles could save up to $425 each year
- It is possible to save up to $150 per year simply by quoting online in advance
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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