Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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Estimated 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. Liability-only insurance costs as little as $416 a year, and high-risk driver insurance costs around $3,310. Teenage drivers pay the most at up to $5,510 a year.
Average premium for full coverage: $1,524
Premium estimates broken down by type of coverage:
Prices are based on $500 physical damage insurance deductibles, bodily injury liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all U.S. states and for all Ioniq 5 models.
Insurance Price Range by Risk and Coverage
Using a 40-year-old driver as an example, insurance rates for a Hyundai Ioniq 5 range from as low as $416 for minimum levels of liability insurance to the much higher price of $3,310 for a driver who has had serious violations or accidents.
Insurance Price Range by Location
Your location can have significant affects on car insurance rates. More rural locations are statistically proven to have a lower frequency of collision claims than densely populated cities. The example below illustrates how rural and urban location affects insurance prices.
These rate differences demonstrate why everyone should compare rates for a targeted area and risk profile, instead of using average rates.
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 best discount rate is $857
- Drivers who choose higher $1,000 deductibles will pay approximately $232 annually
- The average rate for a 40-year-old good driver who has $500 deductibles is $1,524
- Using pricier low deductibles for comprehensive and collision insurance will increase the cost to $1,978
- Higher-risk drivers who are prone to accidents and violations could pay up to $3,310
- An auto insurance policy for full coverage for a teen driver for full coverage can cost as much as $5,510 a year
Insurance prices for a Hyundai Ioniq 5 also have a wide range based on your driving characteristics, the trim level and model year, and liability limits and deductibles.
A more mature driver with no violations or accidents and high deductibles may pay as little as $1,400 per year on average, or $117 per month, for full coverage. Prices are much higher for drivers in their teens, where even good drivers should be prepared to pay at least $5,500 a year. View Rates by Age
Where you choose to 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 be forced to pay 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% |
Using high physical damage deductibles could save up to $690 every year, whereas buying more liability protection will increase premiums. Moving from a 50/100 limit to a 250/500 limit will cost up to $327 more each year. View Rates by Deductible or Liability Limit
If you have a few violations or tend to cause accidents, you may be forking out $1,800 to $2,500 additional annually, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can cost as much as 45% to 132% more than a normal policy. View High Risk Driver Rates
| 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 Affordable Hyundai Ioniq 5 Insurance
Finding better rates on car insurance not only requires being a low-risk driver, but also having a good credit history, being claim-free, and possibly raising deductibles. Set aside time to shop around every other policy renewal by requesting quotes from direct companies like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.
The items below are a brief review of the ideas that were raised in the charts and tables above.
- Teen drivers are expensive to insure, possibly costing $459 per month including comprehensive and collision insurance
- Higher risk drivers with DUI or reckless driving convictions may pay on average $1,790 more annually to insure their Ioniq 5
- Increasing policy deductibles can save around $675 each year
- You may be able to save approximately $190 per year just by quoting online well ahead of the renewal date
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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