Hyundai Ioniq Electric Car Insurance Cost

Are you looking for a new or used Hyundai Ioniq Electric? And wondering how much it costs to insure by year? We researched average annual car insurance costs for each model year and have compiled the results for you below.

Hyundai Ioniq Electric car insurance facts

• Average full coverage auto insurance premium: $127/month

• Most affordable companies: GEICO ($78/month) & American Family Insurance ($86/month)

• Ioniq Electric car insurance cost vs. average rates: $18 less expensive than the average vehicle

Explore the pricing information below to find how much it will cost you to insure your Hyundai Ioniq Electric by model year and auto insurer.

Make sure to comparison shop before making a new car purchase to save money. 

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Below average Hyundai Ioniq Electric insurer costs by state:

• California car insurance – $1,769 per year

• Kentucky car insurance – $1,359 per year

• Florida car insurance – $1,916 per year

• Georgia car insurance – $1,468 per year

• New York car insurance – $2,035 per year

• North Carolina car insurance – $959 per year

Risk factors affecting Hyundai Ioniq Electric insurance rates

The make and model of your vehicle, along with the year of manufacture, are the three most important factors in determining your car’s value, which in turn is the main factor in determining your car insurance premium. Your own personal driving history, age, marital status, credit score, type of vehicle, coverage levels, and other personal factors are also important components of your car insurance rate.

How to save money on Hyundai Ioniq Electric coverage rates?

Many driver discounts are available to people through most major auto insurance companies, such as

• Student discounts

• Safe drivers

• Senior discounts

With all Hyundai models, you can get the following car insurance discounts:

• Passive restraint systems

• Anti-lock brakes

• Anti-theft devices

Hyundai automobile brand

Hyundai is a South Korean automobile manufacturer specializing in affordable cars offering the same features and technologies as more expensive Japanese and American brands. The target audience of Hyundai is the young through older generation demanding high tech cars that are fashionable at a low price. All Hyundai automobiles have high safety ratings, with many of their vehicles getting “Top Safety Pick” and 5-star safety and crash test ratings from the National Highway Traffic Safety Administration (NHTSA). The Hyundai Sonata, Elantra, Sante Fe, and Palisade are some of their most popular cars.

Low Hyundai Ioniq Electric repair costs equal low car insurance rates

Many consumers are attracted to Hyundai’s low cost, excellent fuel efficiency, and driver-assist technologies, like Hyundai’s SmartSense safety features. Automotive parts are common and less expensive than popular vehicles, like Toyota, Honda, or Subaru. Repairing a Hyundai is lower than average since repair parts are less expensive. For this reason, many Hyundais are going to have lower than average car insurance rates compared to similar cars in their class.

Rapid depreciation for Hyundai Ioniq Electric affecting car insurance policies

Another factor to consider for Hyundai is rapid depreciation, affecting auto insurance rates. As your vehicle’s value goes down each year, your auto policy could go down at each renewal. On the other hand, in an auto accident, you need repair parts that rarely go down in price for all Hyundai models. This could put you in a difficult situation position since many car insurance companies will subtract depreciation from the amount paid for your car insurance claim resulting in a situation where your claim payout doesn’t fully cover your repair cost.

Excellent Hyundai IIHS and NHTSA safety ratings decreasing car insurance rates for drivers

Hyundais are known for their safety ratings, safety features, 5-star crash test ratings, driver-assist technologies such as Hyundai’s SmartSense technology innovations and safety, and lower auto insurance rates for drivers with a good driving record, sometimes getting 20% driver discounts for passive restraints and safety features for most Hyundai models. The Hyundai Sonata, Tucson, Kona, and Palisade are the Insurance Institute for Highway Safety (IIHS) “Top Safety Picks,” and the NHTSA consistently gives Hyundai automobiles top safety ratings each year, lowering your car insurance costs.

AutoInsureSavings.org licensed insurance agents to recommend comprehensive and collision coverage, uninsured motorist coverage, and roadside assistance for new Hyundai automobile owners when buying an insurance policy.

Make sure to shop around with multiple car insurance carriers before making a new car purchase.