Hyundai Ioniq Car Insurance

Hyundai Ioniq Insurance Cost

The Hyundai Ioniq is popular with people who care about the environment because it uses little gas and looks good. There are some good things about having a Hyundai Ioniq. However, it's important to think about how much insurance will cost. When you know how to do it, you can save money on Hyundai Ioniq insurance without lowering the level of coverage.

We will look at some tips and tricks to help you get cheap insurance for your Hyundai Ioniq.

Cheapest Companies for Insuring a Hyundai Ioniq

Insurance rates for the Hyundai Ioniq can vary a lot from one company to the next. Full coverage insurance for a Hyundai Ioniq averages about $1740 a year.

Way discovered that for a Hyundai Ioniq, State Farm has the lowest full coverage rate, at about $1380 per year. On the other hand, Allstate has the highest, at about $2145 per year.

If you only need the bare minimum of coverage, State Farm is the best for a Hyundai Ioniq.

On average, it costs about $510 a year, while Progressive costs about $834 a year.

Hyundai Ioniq Cost by Model Year

Insurance for a 2017 Hyundai Ioniq costs about $1599 a year for full coverage. Insurance for a 2022 model costs about $1707.

2017 is the oldest model year for the Hyundai Ioniq because it is a newer SUV. But that doesn't change the fact that it costs more than the 2022 model. Most of the time, older cars cost less to cover because their value goes down over time, even if it's only by a few years.

Car insurance rates may vary depending on the model year and the insurance company. One insurance company might charge less for the newest model, while another might charge less for an older model.

However, Way found that Travelers has the cheapest full coverage car insurance for a 2022 Hyundai Ioniq, at about $1281 a year, and a 2017 model, at about $1221 a year.

Hyundai Ioniq Cost by Age

No matter what kind of car they drive, teens and young adults pay a lot more for auto insurance than people in their thirties or forties because they are less experienced.

It costs about $7506 a year to insure a Hyundai Ioniq driven by a 16-year-old. On the other hand, it only costs $1677 a year for a driver aged 40.

Every year, the cost of car insurance for teens decreases, but it stops going down around age 20.

Young drivers on a family policy don't have to pay more for insurance. Also, most states don't let teens under 18 buy car insurance without a parent or guardian co-signing. But if a teen between 16 and 17 gets their policy, it will always cost much more than the family insurance.

State Farm has the lowest average full coverage price for a 16-year-old driving a Hyundai Ioniq ($4713 per year in 2022). Allstate has the highest average annual premium for an individual policy, at $12,024 annually.

How Does Location Affect the Cost of Hyundai Ioniq Insurance?

Your age, the model year, and the trim level of your Ioniq can all affect how much your car insurance costs.

For example, Idaho has the least expensive car insurance on average, while Florida has the most expensive rates.

How to Save Money on Hyundai Ioniq Insurance

It's important to consider a few things when looking for Hyundai Ioniq car insurance to get the best prices. Here are some essential tips:

• Compare Lots of Insurance Companies: Getting offers from many insurance companies is one of the best ways to find cheap Hyundai Ioniq insurance. Rates vary from company to company, so looking into your choices is worth your time.
• Choose a Higher Deductible: Pick a higher deductible to lower your insurance costs. It's the amount you pay out of pocket when you file a claim. When you choose a bigger deductible, you take on more financial risk. However, your insurance costs usually go down as a result.
• Use Insurance Discounts: When talking about insurance choices, make sure to ask about any available discounts. Many insurance companies offer discounts for anti-theft devices, defensive driving classes, and bundling multiple policies, like getting your home and car insurance from the same company.
• Keep your driving record clean: When determining your rates, the insurance companies consider your driving record. If you have never been in an accident or broken the law while driving, your insurance rates may be lower. To keep your driving record clean, be careful behind the wheel and follow the road rules.

If you follow these tips, you should be able to get cheap insurance for your Hyundai Ioniq, which gives you enough coverage and peace of mind.

Is a Hyundai Ioniq Expensive to Insure?

Insurance companies consider many factors to understand how much to charge for each type of car. Insurance costs more for more expensive cars, cars more likely to be totaled, and cars more likely to be stolen.

Insurance for a Hyundai Ioniq is somewhere between cheap and expensive. The 2022 Hyundai Ioniq has an MSRP of $56,304. It is a moderately priced car, and its higher worth means it has a moderately priced insurance rate.