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 insurance prices for a Hyundai Ioniq Electric are $1,300 every 12 months for full coverage insurance. Comprehensive insurance costs on average $240 each year, collision insurance costs $446, and liability costs around $456. A liability-only policy costs as low as $508 a year, and high-risk insurance costs $2,826 or more. 16-year-old drivers receive the highest rates at up to $5,010 a year.
Average premium for full coverage: $1,300
Rate estimates by individual coverage type:
Rates are based on $500 deductible amounts, minimum liability limits, 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
Using a middle-aged driver as an example, prices range range from the cheapest price of $508 for minimum levels of liability insurance to a high rate of $2,826 for high-risk insurance.
Price Range by Location
Where you live can make a big difference on insurance rates. Rural areas tend to have more infrequent physical damage claims than congested cities. The graphic below illustrates how where you live affects car insurance rates.
These examples illustrate why all drivers should compare prices based on a specific location and their own driving history, instead of making a decision based 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.
Additional Rate Details
The chart below illustrates average Hyundai Ioniq Electric insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $752
- Using higher $1,000 deductibles will save around $156 each year
- The average price for a 40-year-old driver with $500 deductibles is $1,300
- Buying low deductibles for physical damage coverage costs an extra $304 annually
- High-risk insureds with multiple tickets or accidents could pay upwards of $2,826
- The cost to insure a 16-year-old driver may cost $5,010 or more
Insurance rates for a Hyundai Ioniq Electric can also vary considerably based on policy deductibles and limits, your risk profile, and the trim level of your Ioniq Electric.
Opting for high physical damage deductibles could cut rates by as much as $460 annually, whereas increasing liability limits will cost you more. Switching from a 50/100 liability limit to a 250/500 limit will cost as much as $411 more per year. View Rates by Deductible or Liability Limit
More mature drivers with a clean driving record and higher deductibles may pay as low as $1,200 a year for full coverage. Rates are highest for teen drivers, since even excellent drivers can expect to pay upwards of $5,000 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you are probably paying at a minimum $1,600 to $2,200 extra per year, depending on your age. Insurance for high-risk drivers can be from 44% to 137% more than the average rate. View High Risk Driver Rates
Where you live has a huge impact on Hyundai Ioniq Electric insurance prices. A driver around age 40 might see rates as low as $850 a year in states like Vermont, Wisconsin, and North Carolina, or at least $1,760 on average in Michigan, New York, and Florida.
| 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 the Best Cheap Hyundai Ioniq Electric Insurance
Saving money on insurance for a Hyundai Ioniq Electric requires having a good driving record, having good credit, avoid buying unnecessary coverage, and determing if full coverage is necessary. Take the time to comparison shop every couple of years by getting rate quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.
The next list is a quick review of the material that was touched on in the above illustrations.
- Insureds who require increased levels of liability coverage will pay around $500 annually to increase from a minimum limit to a 250/500 level
- Drivers age 20 and younger pay the highest rates, costing up to $418 per month if they have full coverage
- Drivers considered higher risk with a DUI or reckless driving violation pay on average $1,530 more each year to buy Hyundai Ioniq Electric insurance
- Increasing deductibles could save as much as $450 each year
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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