Hyundai Ioniq 5 Insurance Rates

Average insurance prices for a Hyundai Ioniq 5 are $1,556 every 12 months including full coverage. Comprehensive insurance costs an estimated $368 a year, collision insurance costs $698, and liability costs around $354. A liability-only policy costs as low as $406 a year, and high-risk insurance costs $3,374 or more. Teens receive the highest rates at up to $5,590 a year.

Average premium for full coverage: $1,556

Rate estimates broken down by individual coverage type:

Estimates include $500 physical damage deductibles, 30/60 liability limits, and includes UM/UIM and medical coverage. Rates are averaged for all 50 U.S. states and Ioniq 5 trim levels.

Price Range by Coverage and Risk

Price Range by Location

Where you live can make a big difference on the price of auto insurance. More rural locations tend to have more infrequent comprehensive and collision claims than cities with more traffic congestion. The diagram below illustrates how location impacts insurance prices.

These examples highlight why it is important to compare prices for a targeted area and their own driving history, instead of making a decision based on averaged prices.

Use the form below to get customized rates for your location.

Rates by State, City, and Model

The chart below breaks down average Hyundai Ioniq 5 insurance rates for other coverage scenarios.

• The cheapest rate after discounts is $870
• Using higher $1,000 deductibles will save approximately $1,314 every year
• The average price for a 40-year-old driver who has $500 deductibles is $1,556
• Selecting low $100 deductibles for physical damage coverage costs an extra $472 annually
• High-risk insureds with serious driving violations could pay up to $3,374
• The cost to insure a 16-year-old driver can cost as much as $5,590 or more

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Insurance rates for a Hyundai Ioniq 5 can also vary considerably based on policy deductibles and limits, your driving characteristics, and the model year and trim level.

Choosing higher comprehensive and collision insurance deductibles could cut rates by as much as $720 annually, while buying higher liability limits will increase premiums. Changing from a 50/100 liability limit to a 250/500 limit will cost as much as $318 more per year. View Rates by Deductible or Liability Limit

Older drivers with a clean driving record and higher deductibles may pay as low as $1,400 a year for full coverage. Rates are much higher for teen drivers, since even excellent drivers can expect to pay at least $5,500 a year. View Rates by Age

If you like to drive fast or you were responsible for an accident, you are likely paying $1,800 to $2,500 extra per year, depending on your age. A high-risk auto insurance policy can be from 45% to 129% more than the average policy. View High Risk Driver Rates

Where you live has a huge impact on Hyundai Ioniq 5 insurance prices. A driver around age 40 might see rates as low as $1,190 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,220 on average in Louisiana, New York, and Michigan.

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How to Shop for Low Cost Hyundai Ioniq 5 Insurance

Saving money on insurance for a Hyundai Ioniq 5 requires being a safe and courteous driver, having good credit, not filing small claims, and deciding if full coverage is necessary. Spend time shopping around at every policy renewal by quoting rates from direct car insurance companies like GEICO, Progressive, and Esurance, and also from local insurance agencies.

Below is a review of the data touched on above.

• Insureds who want higher levels of liability will pay approximately $390 per year to increase from a minimum limit to a 250/500 level
• You may be able to save approximately $200 per year just by quoting early and online
• Increasing deductibles could save as much as $725 each year
• Teenage drivers are charged the highest rates, as much as $466 per month if they have full coverage