Hyundai Ioniq Electric Insurance Rates
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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 insurance. Comprehensive insurance costs on average $230 a year, collision costs $400, and liability insurance costs $460. Liability-only coverage costs as little as $510 a year, with high-risk coverage costing $2,704 or more. 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:
Prices include $500 comprehensive and collision deductibles, minimum liability limits, and includes both medical and UM/UIM coverage. Prices are averaged for all 50 states and Ioniq Electric trim levels.
Price Range Variability
For a driver in their 40's, Hyundai Ioniq Electric insurance rates go from as cheap as $510 for basic liability insurance to a high of $2,704 for high-risk insurance.
Urban vs. Rural Price Range
Your location has a significant impact on insurance rates. Rural areas are shown to have fewer physical damage claims than congested cities.
The diagram below illustrates how location helps determine car insurance rates.
The examples above illustrate why it is important to compare rates based on a specific location and their own personal driving habits, rather than relying 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 illustrates estimated Hyundai Ioniq Electric insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $729
- Drivers who choose higher $1,000 deductibles will pay around $1,104 each year
- The estimated rate for a good driver age 40 with $500 deductibles is $1,248
- Buying low $100 deductibles for comprehensive and collision insurance costs an additional $276 a year
- High risk drivers with multiple tickets or accidents could pay upwards of $2,704 or more
- Policy cost with full coverage for a teen driver may cost $4,836 a year
Insurance rates for a Hyundai Ioniq Electric also range considerably based on the model year and trim level, your risk profile, and policy deductibles and limits.
Older drivers with no violations or accidents and high physical damage deductibles could pay as little as $1,200 per year on average, or $100 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they should be prepared to pay upwards 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 are probably paying at a minimum $1,500 to $2,100 additional every year, depending on your age. A high-risk auto insurance policy can cost anywhere from 43% to 134% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles could save up to $420 each year, while buying higher liability limits will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $414 more each year. View Rates by Deductible or Liability Limit
Your home state makes a big difference in Hyundai Ioniq Electric insurance rates. A 40-year-old driver could pay as low as $820 a year in states like Vermont, Wisconsin, and North Carolina, or at least $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% |
Because rates have so much variability, the only way to figure out exactly what you will pay is to get quotes from as many companies as possible. Every company utilizes a different rate formula, and rates 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 the Right Hyundai Ioniq Electric Insurance
Finding cheaper rates on Hyundai Ioniq Electric insurance not only requires having a decent driving record, but also having good credit, being claim-free, and insuring your home and auto with the same company. Invest time comparing rates every couple of years by getting rate quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.
The following items are a quick rundown of the material that was covered in the charts and tables above.
- Drivers who require additional liability coverage will pay around $510 annually to go from a 30/60 limit to higher 250/500 limits
- 16 to 18-year-old drivers pay higher rates, possibly costing $403 each month if they have full coverage
- High-risk drivers with reckless driving or DUI convictions may pay on average $1,460 more each year than a driver with a clean driving record
- Increasing comprehensive and collision deductibles could save up to $425 each year
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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