Hyundai Ioniq Electric Insurance Rates
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Michelle Robbins
Licensed Insurance Agent
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 on average $230, collision costs $400, and liability costs around $460. Liability-only coverage costs as low as $510 a year, with high-risk coverage costing $2,704 or more. Teen drivers receive the highest rates at $4,836 a year or more.
Average premium for full coverage: $1,248
Rate estimates by individual coverage type:
Estimates include $500 physical damage insurance deductibles, 30/60 liability limits, and includes uninsured/under-insured motorist coverage. Rates are averaged for all 50 states and for all Ioniq Electric models.
Price Range by Coverage and Risk
For an average driver, prices range go from as cheap as $510 for your basic liability-only policy to the much higher price of $2,704 for a driver required to buy high-risk insurance.
Price Range by Location
Where you live can have significant affects on insurance rates. Rural areas tend to have fewer physical damage claims than larger metro areas.
The example below illustrates the effect of geographic area on car insurance rates.
These examples illustrate why everyone should compare prices based on a specific location and their own personal driving habits, instead of using 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.
More Rate Information
The chart below illustrates estimated Hyundai Ioniq Electric insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $729
- Using higher $1,000 deductibles will save around $144 each year
- The estimated rate for a 40-year-old driver with $500 deductibles is $1,248
- Choosing pricier low deductibles for physical damage coverage costs an additional $276 every year
- Drivers with multiple violations and an at-fault accident could pay upwards of $2,704 or more
- The cost with full coverage for a teen driver for full coverage may cost $4,836 or more
Car insurance rates for a Hyundai Ioniq Electric can also vary considerably based on the trim level of your Ioniq Electric, your risk profile, and policy deductibles and limits.
A more mature driver with no driving violations and high physical damage deductibles may pay as little as $1,200 a year for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they will be charged upwards of $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 a minimum $1,500 to $2,100 extra per year, depending on your age. Hyundai Ioniq Electric insurance for high-risk drivers can be as much as 43% to 134% more than average. View High Risk Driver Rates
Choosing high deductibles could cut rates by as much as $420 every year, whereas buying more liability protection will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $414 extra every 12 months. View Rates by Deductible or Liability Limit
Where you live has a huge impact on Hyundai Ioniq Electric insurance prices. A driver around age 40 might see rates as low as $820 a year in states like Vermont, Wisconsin, and North Carolina, or 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 exactly what you will pay is to regularly compare rates and see which company has the best rate. Each insurance company uses a different rate calculation, so rate quotes 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 Low Cost Hyundai Ioniq Electric Insurance
Saving money on car insurance requires being a low-risk driver, having a good credit score, avoid buying unnecessary coverage, and maximizing policy discounts. Take the time to compare rates at every policy renewal by requesting quotes from direct insurance companies like Progressive and GEICO, and also from local exclusive and independent agents.
The items below are a review of the data covered in the above illustrations.
- Policyholders who require more liability coverage will pay about $510 annually to increase from a minimum limit to higher 250/500 limits
- It is possible to save as much as $150 per year simply by quoting online well ahead of the renewal date
- Increasing deductibles could save up to $425 each year
- Teen drivers are expensive to insure, costing up to $403 per month if comprehensive and collision insurance is included
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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