Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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U.S. average insurance prices for a Hyundai Ioniq 5 are $1,556 every 12 months including full coverage. Comprehensive costs an estimated $368, collision costs $698, and liability insurance costs $354. Buying just liability costs as little as $406 a year, with insurance for high-risk drivers costing around $3,374. Teens pay the highest rates at $5,590 a year or more.
Average premium for full coverage: $1,556
Price estimates broken down by individual coverage:
Rates are based on $500 deductible amounts, 30/60 split liability limits, and includes both medical and UM/UIM coverage. Estimates are averaged for all 50 U.S. states and for different Ioniq 5 trim levels.
Price Range from Low to High
For the normal driver, Hyundai Ioniq 5 insurance prices go from the cheapest price of $406 for basic liability insurance to a much higher rate of $3,374 for a high-risk insurance policy.
Geographic Price Range
Your location has a significant impact on the price of auto insurance. More rural locations have more infrequent comprehensive and collision claims than cities with more traffic congestion.
The price range example below illustrates how geographic area affects insurance prices.
The ranges above highlight why anyone shopping for car insurance should compare rates for a targeted area and their own driving history, rather than relying on averaged prices.
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.
Rate Comparisons
The chart below breaks down estimated Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $870
- Drivers who choose higher $1,000 deductibles will pay approximately $242 every year
- The average price for the average middle-age driver who has $500 deductibles is $1,556
- Selecting more expensive low deductibles for comprehensive and collision insurance increases the price to $2,028
- High risk drivers with serious driving violations could pay up to $3,374 or more
- The price to insure a teen driver with full coverage can cost as much as $5,590 a year
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on deductibles and policy limits, your driving characteristics, and the model year and trim level.
Choosing higher comprehensive and collision insurance deductibles could save up to $720 each year, while increasing your policy's liability limits will increase premiums. Changing from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $318 more each year. View Rates by Deductible or Liability Limit
An older driver with no violations or accidents and higher deductibles could pay as little as $1,400 per year on average for full coverage. Prices are much higher for teenage drivers, since even excellent drivers should be prepared to pay at least $5,500 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you are likely paying $1,800 to $2,500 additional each year, depending on your age. High-risk driver insurance can cost anywhere from 45% to 129% more than the average policy. View High Risk Driver Rates
The state you live in makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay 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.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,406 | -$150 | -9.6% |
| Alaska | $1,192 | -$364 | -23.4% |
| Arizona | $1,290 | -$266 | -17.1% |
| Arkansas | $1,556 | -$0 | 0.0% |
| California | $1,774 | $218 | 14.0% |
| Colorado | $1,484 | -$72 | -4.6% |
| Connecticut | $1,598 | $42 | 2.7% |
| Delaware | $1,760 | $204 | 13.1% |
| Florida | $1,944 | $388 | 24.9% |
| Georgia | $1,436 | -$120 | -7.7% |
| Hawaii | $1,116 | -$440 | -28.3% |
| Idaho | $1,054 | -$502 | -32.3% |
| Illinois | $1,158 | -$398 | -25.6% |
| Indiana | $1,172 | -$384 | -24.7% |
| Iowa | $1,050 | -$506 | -32.5% |
| Kansas | $1,476 | -$80 | -5.1% |
| Kentucky | $2,122 | $566 | 36.4% |
| Louisiana | $2,302 | $746 | 47.9% |
| Maine | $960 | -$596 | -38.3% |
| Maryland | $1,284 | -$272 | -17.5% |
| Massachusetts | $1,240 | -$316 | -20.3% |
| Michigan | $2,700 | $1,144 | 73.5% |
| Minnesota | $1,302 | -$254 | -16.3% |
| Mississippi | $1,864 | $308 | 19.8% |
| Missouri | $1,382 | -$174 | -11.2% |
| Montana | $1,670 | $114 | 7.3% |
| Nebraska | $1,224 | -$332 | -21.3% |
| Nevada | $1,864 | $308 | 19.8% |
| New Hampshire | $1,120 | -$436 | -28.0% |
| New Jersey | $1,740 | $184 | 11.8% |
| New Mexico | $1,376 | -$180 | -11.6% |
| New York | $1,636 | $80 | 5.1% |
| North Carolina | $896 | -$660 | -42.4% |
| North Dakota | $1,274 | -$282 | -18.1% |
| Ohio | $1,072 | -$484 | -31.1% |
| Oklahoma | $1,594 | $38 | 2.4% |
| Oregon | $1,426 | -$130 | -8.4% |
| Pennsylvania | $1,484 | -$72 | -4.6% |
| Rhode Island | $2,074 | $518 | 33.3% |
| South Carolina | $1,410 | -$146 | -9.4% |
| South Dakota | $1,312 | -$244 | -15.7% |
| Tennessee | $1,360 | -$196 | -12.6% |
| Texas | $1,874 | $318 | 20.4% |
| Utah | $1,150 | -$406 | -26.1% |
| Vermont | $1,062 | -$494 | -31.7% |
| Virginia | $932 | -$624 | -40.1% |
| Washington | $1,200 | -$356 | -22.9% |
| West Virginia | $1,426 | -$130 | -8.4% |
| Wisconsin | $1,074 | -$482 | -31.0% |
| Wyoming | $1,384 | -$172 | -11.1% |
Since prices can be so different, the best way to figure out which car insurance is cheapest is to compare prices from as many companies as possible. Every company calculates prices differently, and prices may be quite different.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Hyundai Ioniq 5 | $398 | $720 | $332 | $1,586 |
| 2023 Hyundai Ioniq 5 | $382 | $714 | $338 | $1,570 |
| 2022 Hyundai Ioniq 5 | $368 | $698 | $354 | $1,556 |
| 2021 Hyundai Ioniq 5 | $356 | $668 | $364 | $1,524 |
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 Shop for the Best Cheap Hyundai Ioniq 5 Insurance
Getting lower rates on Hyundai Ioniq 5 insurance not only requires having a good driving record, but also having above-average credit, being claim-free, and maximizing policy discounts. Invest the time to compare rates at least every other year by obtaining price quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from local insurance agencies.
The next list is a quick review of the car insurance concepts presented in the illustrations above.
- High-risk drivers with a DUI or reckless driving violation may have to pay on average $1,820 more annually to buy Hyundai Ioniq 5 insurance
- You may be able to save approximately $200 per year simply by shopping early and online
- Increasing physical damage deductibles could save as much as $725 each year
- Drivers who want increased levels of liability coverage will pay approximately $390 per year to go from a low limit to a 250/500 level
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $5,590 |
| 20 | $3,592 |
| 30 | $1,640 |
| 40 | $1,556 |
| 50 | $1,418 |
| 60 | $1,392 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,028 |
| $250 | $1,808 |
| $500 | $1,556 |
| $1,000 | $1,314 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,556 |
| 50/100 | $1,627 |
| 100/300 | $1,715 |
| 250/500 | $1,945 |
| 100 CSL | $1,662 |
| 300 CSL | $1,857 |
| 500 CSL | $1,999 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,034 |
| 20 | $5,718 |
| 30 | $3,468 |
| 40 | $3,374 |
| 50 | $3,216 |
| 60 | $3,188 |
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 | $85 |
| Multi-vehicle | $81 |
| Homeowner | $21 |
| 5-yr Accident Free | $123 |
| 5-yr Claim Free | $103 |
| Paid in Full/EFT | $78 |
| Advance Quote | $81 |
| Online Quote | $114 |
| Total Discounts | $686 |
Discounts are estimated and may not be available from every company or in every state.
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