Annual full coverage insurance for a Hyundai Ioniq ranges from $1,158 with USAA to $7,148 for 16-year-olds. Rates vary depending on the car's year, your age, where you live, driving history, coverage level and insurer. This article explores Hyundai Ioniq insurance costs, offering insights into the best companies and the most affordable options.
Hyundai Ioniq Insurance Cost
Updated: March 18, 2025
Key Takeaways
State Farm offers the most affordable minimum coverage across all Hyundai Ioniq model years, costing $500 annually.
For a Hyundai Ioniq, the average annual cost is $624 for minimum coverage and $1,635 for full coverage.
To ensure reliable and comprehensive data, MoneyGeek analyzed 1,793 Hyundai Ioniq insurance quotes from Quadrant Information Services.
Hyundai Ioniq Insurance Rates
What Is the Average Hyundai Ioniq Car Insurance Cost?
The average full coverage insurance for a Hyundai Ioniq is $136 per month or $1,635 per year, based on a 40-year-old male with a clean driving record. Minimum coverage costs about $52 monthly or $624 annually.
| Minimum Coverage | $624 |
| Full Coverage | $1,635 |
Hyundai Ioniq Insurance Costs by Company
Insurance costs for the Hyundai Ioniq range from $1,202 to $2,255 per year. Costs depend on age, model year and coverage level. Below, a table compares Hyundai Ioniq insurance rates with the averages for all vehicles from several national and midsize providers.
| Allstate | $2,255 | $1,807 | 25% |
| Auto-Owners | $1,330 | $1,226 | 9% |
| Farmers | $1,970 | $1,954 | 1% |
| GEICO | $1,261 | $1,332 | -5% |
| Kemper | $2,215 | $2,210 | 0% |
| Nationwide | $1,895 | $1,586 | 20% |
| Progressive | $1,982 | $1,741 | 14% |
| State Farm | $1,419 | $1,267 | 12% |
| Travelers | $1,709 | $1,519 | 12% |
| USAA | $1,202 | $1,199 | 0% |
Read more: Best Car Insurance Companies
Cost of Insuring a Hyundai Ioniq by Model Year
The year your Hyundai Ioniq was produced can influence your insurance rates, with older models often costing less. For example, a 2022 model has a full coverage rate of $1,705, while it's $1,560 for a 2017 model. Below are the average full and minimum coverage rates for each production year.
| 2022 | $615 | $1,705 |
| 2021 | $632 | $1,698 |
| 2020 | $637 | $1,669 |
| 2019 | $641 | $1,648 |
| 2018 | $646 | $1,599 |
| 2017 | $649 | $1,560 |
Hyundai Ioniq Insurance Costs by Driver Age
Hyundai Ioniq auto insurance rates vary significantly based on the driver's age. For example, 40-year-olds pay an average of $1,646 for full coverage, while 16-year-olds pay $7,148. Below are the average minimum and full coverage rates for different ages.
| 16 | $2,899 | $7,148 |
| 17 | $2,367 | $5,847 |
| 18 | $2,065 | $5,143 |
| 19 | $1,464 | $3,673 |
| 20 | $1,315 | $3,338 |
| 21 | $1,039 | $2,690 |
| 22 | $948 | $2,475 |
| 23 | $879 | $2,309 |
| 24 | $832 | $2,194 |
| 25 | $743 | $1,965 |
| 26 | $722 | $1,894 |
| 27 | $705 | $1,852 |
| 28 | $693 | $1,822 |
| 29 | $683 | $1,797 |
| 30 | $660 | $1,733 |
| 35 | $644 | $1,679 |
| 40 | $637 | $1,646 |
| 45 | $631 | $1,624 |
| 50 | $615 | $1,573 |
| 55 | $599 | $1,529 |
| 60 | $599 | $1,524 |
| 65 | $640 | $1,576 |
| 70 | $694 | $1,683 |
| 75 | $772 | $1,846 |
| 80 | $873 | $2,053 |
| 85 | $944 | $2,207 |
| 90 | $995 | $2,312 |
Hyundai Ioniq Insurance Rates Explained
Several factors influence car insurance rates based on a driver’s profile. Insurers also consider vehicle-related factors like make, model, age, safety features and repair costs when determining premiums.
Hyundai Ioniq Rates vs. National Average
All Vehicles
Average Full Coverage Rate
$1,296Hyundai Ioniq
Average Full Coverage Rate
$1,635Premiums for Hyundai Ioniq are:$339 more
This is 26% more expensive.
Value
The Hyundai Ioniq has an MSRP of $34,345. Being an electric vehicle, its MSRP may result in higher insurance costs.
Performance
The Hyundai Ioniq’s 0-to-60 time of 8.9 seconds and 139 horsepower classify it as a non-high-performance vehicle, which may help lower insurance costs.
Fuel type
The Hyundai Ioniq is an electric vehicle, which may lead to higher insurance costs due to battery costs and repair shop scarcity.
Vehicle age
Newer Hyundai Ioniqs typically cost more to insure, but classic models can also be expensive.
Vehicle size
The Hyundai Ioniq weighs 4,718 lbs, which could lead to higher insurance costs than smaller, lighter vehicles.
Trim level
Higher trim levels of the Hyundai Ioniq, like Limited, may lead to higher insurance costs than the base model.
Theft rates
The Hyundai Ioniq's theft rate is relatively low, which may not significantly impact insurance costs.
Cheapest Hyundai Ioniq Insurance
State Farm offers the cheapest rate for Hyundai Ioniq insurance at $500 per year for minimum coverage, based on a 40-year-old male driver with a clean record. Below is a breakdown of the most affordable auto insurance rates across coverage levels, age groups, driving records, model years and more.
Cheapest Hyundai Ioniq Insurance by Coverage Level
The coverage level you choose greatly affects your Hyundai Ioniq insurance rate. State Farm provides the cheapest average minimum coverage rate, while GEICO offers the most affordable full coverage. Below is a breakdown of the cheapest providers for both types.
Cheapest Hyundai Ioniq Minimum Coverage
State Farm and GEICO offer the cheapest minimum coverage for Hyundai Ioniq at $42 monthly. Travelers, Allstate and Farmers also provide competitive rates, ranging from $54 to $60.
| USAA | $37 | $439 |
| State Farm | $42 | $500 |
| GEICO | $42 | $507 |
| Travelers | $54 | $652 |
| Allstate | $59 | $712 |
| Farmers | $60 | $716 |
| Nationwide | $61 | $737 |
| Progressive | $66 | $795 |
*State Farm offers non-military-affiliated Hyundai Ioniq owners the lowest average minimum coverage insurance rate. USAA is the most affordable option for military-affiliated drivers.
Best Hyundai Ioniq Insurance Rates by Model Year
Because the above list doesn't consider the model production year, lower rates might be available based on your vehicle's age. Use the table below to find the cheapest minimum coverage rates for each Hyundai Ioniq production year.
Data filtered by:Results filtered by:
Select
Model Year:2017
| Allstate | $714 | $60 |
| Farmers | $730 | $61 |
| GEICO | $535 | $45 |
| Nationwide | $757 | $63 |
| Progressive | $807 | $67 |
| State Farm | $520 | $43 |
| Travelers | $671 | $56 |
| USAA | $450 | $38 |
*USAA is available only to military veterans, active service members and their families.
Cheapest Full Coverage Hyundai Ioniq Insurance
GEICO offers the cheapest full coverage for a Hyundai Ioniq at $1,225 annually or $102 monthly. Below is the complete list of full coverage insurance providers and rates.
| USAA | $96 | $1,158 |
| GEICO | $102 | $1,225 |
| State Farm | $114 | $1,367 |
| Travelers | $140 | $1,683 |
| Nationwide | $146 | $1,757 |
| Farmers | $153 | $1,837 |
| Progressive | $158 | $1,899 |
| Allstate | $178 | $2,135 |
*On average, GEICO is the cheapest insurer for non-military-affiliated Hyundai Ioniq owners seeking full coverage. For military-affiliated drivers, USAA is the most affordable option.
Cheapest Hyundai Ioniq Insurance by Age
Young drivers aged 16 to 25 and seniors over 55 often pay more for Hyundai Ioniq insurance. Below is a breakdown of the cheapest options by age.
Cheapest Hyundai Ioniq Insurance for Young Drivers
State Farm offers the cheapest auto insurance for young drivers, averaging $91 monthly or $1,092 annually for minimum coverage. Below is the complete list of the cheapest rates for Hyundai Ioniq drivers aged 16 to 25.
| USAA | $76 | $912 |
| State Farm | $91 | $1,092 |
| GEICO | $100 | $1,200 |
| Travelers | $110 | $1,325 |
| Allstate | $137 | $1,649 |
| Farmers | $160 | $1,915 |
| Nationwide | $164 | $1,964 |
| Progressive | $185 | $2,225 |
*State Farm is the cheapest insurer for young non-military-affiliated drivers. USAA is the most affordable option for military-affiliated drivers.
Cheapest Hyundai Ioniq Insurance for Seniors
State Farm offers the cheapest car insurance for seniors aged 55 and up, starting at $46 monthly or $550 annually. Explore the full list of affordable Hyundai Ioniq insurers below.
| State Farm | $46 | $550 |
| USAA | $49 | $583 |
| GEICO | $50 | $603 |
| Travelers | $64 | $767 |
| Nationwide | $72 | $865 |
| Allstate | $72 | $868 |
| Farmers | $82 | $979 |
| Progressive | $84 | $1,002 |
Cheapest Hyundai Ioniq Insurance After an Accident
State Farm, GEICO and Travelers offer Hyundai Ioniq drivers the cheapest car insurance after an accident. See the complete list below.
| State Farm | $52 | $628 |
| USAA | $56 | $668 |
| GEICO | $66 | $796 |
| Travelers | $78 | $941 |
| Allstate | $82 | $980 |
| Nationwide | $96 | $1,148 |
| Progressive | $110 | $1,320 |
| Farmers | $120 | $1,439 |
Hyundai Ioniq Insurance Cost: Bottom Line
Compare rates from various providers to find the cheapest car insurance. This article explores Hyundai Ioniq insurance costs across demographics and highlights the most affordable providers.
Hyundai Ioniq Insurance Rates: FAQ
Below are answers to common questions about Hyundai Ioniq insurance costs.
What company has the cheapest car insurance for a Hyundai Ioniq?
State Farm offers the cheapest insurance for a Hyundai Ioniq, with an annual minimum coverage rate of $500.
What is the average cost of car insurance for a Hyundai Ioniq?
Minimum coverage for a Hyundai Ioniq averages $624 annually, while full coverage costs around $1,635 per year.
Hyundai Ioniq Insurance Ratings: Our Review Methodology
MoneyGeek analyzed data and 1,793 Hyundai Ioniq insurance quotes from Quadrant Information Services.
Drivers and Cars
MoneyGeek used a sample driver profile with the following characteristics to calculate the average rates for insuring a Hyundai Ioniq:
- 40-year-old male
- Clean driving record
- 12,000 miles driven annually
We also modified the sample driver profile to determine Hyundai Ioniq insurance rates for different age groups, driving records and model years. MoneyGeek collected data for the following model years:
- 2012
- 2013
- 2014
- 2015
- 2016
- 2017
- 2018
- 2019
- 2020
- 2021
- 2022
If data on specific model years wasn't available, our data scientists estimated rates based on how insurers typically price car models each year. The published rates are estimates and may not reflect the rate you'll receive for your Hyundai Ioniq.
Coverage Levels
Each state differs in minimum coverage requirements, so our rates are a combination of minimum coverage policies in the states where we gathered our data.
MoneyGeek’s analysis also includes average rates for a full coverage policy that includes comprehensive and collision coverage (with a $1,000 deductible) and the following increased liability coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability per accident
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.