Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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The average insurance rates for a Hyundai Ioniq 5 are $1,556 a year for full coverage insurance. Comprehensive insurance costs approximately $368 a year, collision insurance costs $698, and liability is estimated at $354. Liability-only coverage costs approximately $406 a year, and high-risk coverage costs $3,374 or more. Teen drivers cost the most to insure at up to $5,590 a year.
Average premium for full coverage: $1,556
Policy rates by type of insurance:
Price estimates include $500 policy deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all 50 states and Ioniq 5 trim levels.
Price Range Variability
For a driver around age 40, Hyundai Ioniq 5 insurance rates range from as low as $406 for liability-only coverage to a high of $3,374 for coverage for higher-risk drivers.
Urban vs. Rural Price Range
Living in a larger city can have significant affects on the price of auto insurance. Rural locations are shown to have a lower frequency of physical damage claims than larger metro areas. The diagram below illustrates the difference between rural and urban areas on auto insurance prices.
The examples above illustrate why it is important to get quotes using their specific location and risk profile, 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 Charts and Tables
The chart below illustrates average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $870
- Choosing higher $1,000 deductibles can save $1,314 each year
- The average rate for a good driver age 40 who chooses $500 deductibles is $1,556
- Choosing low $100 deductibles for comp and collision coverage will cost an extra $472 every year
- Unlucky drivers with multiple violations and an at-fault accident could pay around $3,374
- Policy cost for full coverage for a teen driver can cost $5,590 each year
Insurance rates for a Hyundai Ioniq 5 also range considerably based on your risk profile, the model year and trim level, and physical damage deductibles and liability limits.
Older drivers with no violations or accidents and high deductibles may pay as little as $1,400 annually on average, or $117 per month, for full coverage. Rates are highest for teenagers, where even good drivers should be prepared to pay in the ballpark of $5,500 a year. View Rates by Age
Your home state plays a big part in determining prices for Hyundai Ioniq 5 insurance prices. A good driver about age 40 could pay as low as $1,020 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,100 on average in Florida, 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% |
Choosing high deductibles can save as much as $720 every year, while buying higher liability limits will push rates upward. Switching from a 50/100 limit to a 250/500 limit will raise rates by up to $318 more each year. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you are probably paying anywhere from $1,800 to $2,500 additional every year, depending on your age. A high-risk auto insurance policy ranges as much as 45% to 129% more than average. View High Risk Driver Rates
| 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 Find Cheaper Hyundai Ioniq 5 Insurance
Finding cheaper rates on car insurance takes avoiding accidents and claims, having a good credit history, being claim-free, and consideration of higher deductibles. Set aside time to compare rates at least once a year by getting quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.
The points below are a condensed summary of the primary concepts that were covered above.
- It is possible to save around $200 per year just by quoting early and online
- Higher risk drivers with multiple at-fault accidents may pay on average $1,820 more per year to insure a Hyundai Ioniq 5
- Increasing comprehensive and collision deductibles can save around $725 each year
- Drivers under the age of 20 are the costliest to insure, possibly costing $466 each month including comprehensive and collision insurance
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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