Hyundai Ioniq 5 Insurance Rates

U.S. average insurance rates for a Hyundai Ioniq 5 are $1,556 a year for full coverage. Comprehensive insurance costs an estimated $368, collision insurance costs $698, and liability insurance costs around $354. A policy with just liability insurance costs as low as $406 a year, and coverage for high-risk drivers costs $3,374 or more. Teens pay the highest rates at up to $5,590 a year.

Average premium for full coverage: $1,556

Price estimates broken down by individual coverage:

Full coverage includes $500 physical damage deductibles, 30/60 liability limits, and includes additional medical/uninsured motorist coverage. Estimates are averaged for all states and for all Ioniq 5 models.

Price Range from Low to High

Geographic Price Range

Where you live has a significant impact on insurance rates. More rural locations have a lower frequency of accident claims than cities with more traffic congestion. The example below illustrates how geographic area affects insurance prices.

The ranges above show why everyone should compare prices for a targeted area and risk profile, rather than relying on averaged prices.

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

Additional Rate Analysis

The chart below shows 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 $242 a year
• The average rate for the average middle-age driver who has $500 deductibles is $1,556
• Selecting pricier low deductibles for physical damage coverage will cost an extra $472 a year
• Drivers with serious driving violations could pay up to $3,374
• The price for full coverage for a teen driver for full coverage can cost as much as $5,590 or more

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Insurance prices for a Hyundai Ioniq 5 are also quite variable based on your driving record, the trim level of your Ioniq 5, and liability limits and deductibles.

A more mature driver with a clean driving record and high deductibles could pay as little as $1,400 a year for full coverage. Prices are much higher for teenage drivers, where even good drivers can expect to pay at least $5,500 a year. View Rates by Age

The state you live in has a huge impact on Hyundai Ioniq 5 insurance rates. A driver around age 40 might see prices as low as $1,030 a year in states like Iowa, Maine, and Idaho, or have to pay at least $2,220 on average in New York, Louisiana, and Michigan.

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Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $720 each year, whereas buying more liability protection will increase premiums. Going from a 50/100 limit to a 250/500 limit will increase prices by as much as $318 more per year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you could be paying $1,800 to $2,500 extra each year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can be anywhere from 45% to 129% more than the average policy. View High Risk Driver Rates

How to Find More Affordable Hyundai Ioniq 5 Insurance

Getting lower rates on Hyundai Ioniq 5 insurance requires being a safe and courteous driver, maintaining good credit, eliminating unnecessary coverage, and deciding if full coverage is necessary. Invest the time to compare rates at every policy renewal by obtaining price quotes from direct carriers like Progressive and GEICO, and also from local independent and exclusive agents.

Below is a summary of the data presented in the illustrations above.

• Drivers who want higher levels of liability will pay approximately $390 each year to increase from a low limit to 250/500 limits
• Drivers can save approximately $200 per year just by quoting online well ahead of the renewal date
• Increasing physical damage deductibles can save around $725 each year
• Teenage drivers are charged the highest prices, with premiums as much as $466 a month for full coverage