Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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Average insurance rates for a Hyundai Ioniq 5 are $1,524 a year with full coverage. Comprehensive costs an estimated $356, collision insurance costs $668, and liability costs $364. Buying just liability costs as little as $416 a year, and insurance for high-risk drivers costs around $3,310. Teen drivers receive the highest rates at up to $5,510 a year.
Average premium for full coverage: $1,524
Rate estimates broken down by individual coverage type:
These estimates include $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes both medical and uninsured motorist insurance. Rates are averaged for all U.S. states and for different Ioniq 5 trim levels.
Price Range by Coverage and Risk
For the average driver, prices range range from the low end price of $416 for minimum levels of liability insurance to a much higher rate of $3,310 for a high-risk insurance policy.
Price Range by Location
Your location can have significant affects on car insurance rates. More rural locations tend to have lower incidents of collision claims than larger metro areas. The price range example below illustrates how location impacts insurance prices.
These examples demonstrate why anyone shopping for car insurance should compare rates for a targeted area, 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.
Additional Rate Details
The chart below details average Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The lowest rate with discounts is $857
- Drivers who choose higher $1,000 deductibles will pay approximately $232 annually
- The estimated price for a 40-year-old driver who has $500 deductibles is $1,524
- Choosing more expensive low deductibles for comprehensive and collision insurance bumps up the cost to $1,978
- Higher-risk drivers with multiple violations and an at-fault accident could pay up to $3,310
- The cost that insures a teen driver with full coverage can cost as much as $5,510 a year
Auto insurance rates for a Hyundai Ioniq 5 can also vary considerably based on the model year and trim level, your age and driving habits, and liability limits and deductibles.
If you like to drive fast or you caused an accident, you may be forking out $1,800 to $2,500 in extra premium per year, depending on your age. High-risk driver insurance can cost as much as 45% to 132% more than average. View High Risk Driver Rates
An older driver with a good driving record and higher comprehensive and collision deductibles may pay as little as $1,400 per year on average for full coverage. Rates are highest for teen drivers, since even teens with perfect driving records will have to pay at least $5,500 a year. View Rates by Age
Where you live makes a big difference in Hyundai Ioniq 5 insurance prices. A 40-year-old driver could pay as low as $1,100 a year in states like Utah, Ohio, and New Hampshire, or as much as $2,060 on average in New York, Michigan, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,378 | -$146 | -9.6% |
| Alaska | $1,168 | -$356 | -23.4% |
| Arizona | $1,264 | -$260 | -17.1% |
| Arkansas | $1,524 | -$0 | 0.0% |
| California | $1,738 | $214 | 14.0% |
| Colorado | $1,454 | -$70 | -4.6% |
| Connecticut | $1,564 | $40 | 2.6% |
| Delaware | $1,722 | $198 | 13.0% |
| Florida | $1,904 | $380 | 24.9% |
| Georgia | $1,410 | -$114 | -7.5% |
| Hawaii | $1,096 | -$428 | -28.1% |
| Idaho | $1,034 | -$490 | -32.2% |
| Illinois | $1,136 | -$388 | -25.5% |
| Indiana | $1,150 | -$374 | -24.5% |
| Iowa | $1,028 | -$496 | -32.5% |
| Kansas | $1,446 | -$78 | -5.1% |
| Kentucky | $2,080 | $556 | 36.5% |
| Louisiana | $2,258 | $734 | 48.2% |
| Maine | $942 | -$582 | -38.2% |
| Maryland | $1,260 | -$264 | -17.3% |
| Massachusetts | $1,216 | -$308 | -20.2% |
| Michigan | $2,646 | $1,122 | 73.6% |
| Minnesota | $1,278 | -$246 | -16.1% |
| Mississippi | $1,826 | $302 | 19.8% |
| Missouri | $1,354 | -$170 | -11.2% |
| Montana | $1,636 | $112 | 7.3% |
| Nebraska | $1,200 | -$324 | -21.3% |
| Nevada | $1,828 | $304 | 19.9% |
| New Hampshire | $1,098 | -$426 | -28.0% |
| New Jersey | $1,704 | $180 | 11.8% |
| New Mexico | $1,350 | -$174 | -11.4% |
| New York | $1,604 | $80 | 5.2% |
| North Carolina | $876 | -$648 | -42.5% |
| North Dakota | $1,250 | -$274 | -18.0% |
| Ohio | $1,052 | -$472 | -31.0% |
| Oklahoma | $1,564 | $40 | 2.6% |
| Oregon | $1,396 | -$128 | -8.4% |
| Pennsylvania | $1,454 | -$70 | -4.6% |
| Rhode Island | $2,032 | $508 | 33.3% |
| South Carolina | $1,382 | -$142 | -9.3% |
| South Dakota | $1,286 | -$238 | -15.6% |
| Tennessee | $1,334 | -$190 | -12.5% |
| Texas | $1,838 | $314 | 20.6% |
| Utah | $1,128 | -$396 | -26.0% |
| Vermont | $1,042 | -$482 | -31.6% |
| Virginia | $912 | -$612 | -40.2% |
| Washington | $1,176 | -$348 | -22.8% |
| West Virginia | $1,396 | -$128 | -8.4% |
| Wisconsin | $1,052 | -$472 | -31.0% |
| Wyoming | $1,356 | -$168 | -11.0% |
Choosing high deductibles could save up to $690 every year, while increasing your policy's liability limits will increase premiums. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $327 extra every year. View Rates by Deductible or Liability Limit
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Hyundai Ioniq 5 | $382 | $714 | $338 | $1,570 |
| 2023 Hyundai Ioniq 5 | $368 | $698 | $354 | $1,556 |
| 2022 Hyundai Ioniq 5 | $356 | $668 | $364 | $1,524 |
| 2021 Hyundai Ioniq 5 | $336 | $646 | $376 | $1,494 |
Rates are averaged for all Hyundai Ioniq 5 models and trim levels. Rates assume a 40-year-old male driver, full coverage with $500 deductibles, and a clean driving record.
How to Find Cheap Hyundai Ioniq 5 Insurance
Saving money on car insurance not only requires avoiding accidents and violations, but also maintaining a good credit score, eliminating unnecessary coverage, and consideration of higher deductibles. Shop around at least every other year by requesting quotes from direct companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The list below is a brief summary of the car insurance concepts touched on above.
- Higher risk drivers that tend to have accidents or serious violations could be forced to pay on average $1,790 more annually for car insurance
- You may be able to save approximately $190 per year just by shopping early and online
- Increasing deductibles can save approximately $675 each year
- Policyholders who want higher liability limits will pay about $400 every year to go from a minimum limit to the 250/500 level
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $5,510 |
| 20 | $3,520 |
| 30 | $1,604 |
| 40 | $1,524 |
| 50 | $1,392 |
| 60 | $1,368 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $1,978 |
| $250 | $1,766 |
| $500 | $1,524 |
| $1,000 | $1,292 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,524 |
| 50/100 | $1,597 |
| 100/300 | $1,688 |
| 250/500 | $1,924 |
| 100 CSL | $1,633 |
| 300 CSL | $1,833 |
| 500 CSL | $1,979 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $7,914 |
| 20 | $5,606 |
| 30 | $3,396 |
| 40 | $3,310 |
| 50 | $3,152 |
| 60 | $3,124 |
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 | $83 |
| Multi-vehicle | $79 |
| Homeowner | $21 |
| 5-yr Accident Free | $119 |
| 5-yr Claim Free | $100 |
| Paid in Full/EFT | $75 |
| Advance Quote | $79 |
| Online Quote | $111 |
| Total Discounts | $667 |
Discounts are estimated and may not be available from every company or in every state.
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