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 prices for a Hyundai Ioniq 5 are $1,524 every 12 months with full coverage. Comprehensive costs on average $356, collision insurance costs $668, and liability insurance is estimated at $364. Liability-only coverage costs approximately $416 a year, and high-risk coverage costs around $3,310. Teen drivers cost the most to insure at up to $5,510 a year.
Average premium for full coverage: $1,524
Policy rates by type of insurance:
Rate estimates include $500 deductible amounts, 30/60 bodily injury liability limits, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all U.S. states and for different Ioniq 5 trim levels.
Price Range Variability
For a driver around age 40, Hyundai Ioniq 5 insurance rates range from the cheapest price of $416 for liability-only coverage to a much higher rate of $3,310 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Living in a larger city has a significant impact on auto insurance rates. Rural areas are shown to have more infrequent collision claims than larger metro areas. The price range example below illustrates the difference between rural and urban areas on car insurance rates.
The examples above demonstrate why anyone shopping for car insurance should get quotes based on a specific location and their own driving history, rather than relying on 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 details average Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $857
- Choosing higher $1,000 deductibles can save around $232 annually
- The average price for a good driver age 40 with $500 deductibles is $1,524
- Choosing more expensive low deductibles for comp and collision coverage increases the price to $1,978
- High-risk insureds with multiple violations and an at-fault accident could pay upwards of $3,310
- Policy cost to insure a teen driver with full coverage may cost $5,510 each year
Insurance rates for a Hyundai Ioniq 5 also range considerably based on liability limits and deductibles, your driving record, and the trim level of your Ioniq 5.
Choosing high deductibles can save as much as $690 each year, while increasing your policy's liability limits will cost you more. Moving from a 50/100 liability limit to a 250/500 limit will raise rates by up to $327 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 annually on average, or $117 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers should be prepared to pay upwards of $5,500 a year. View Rates by Age
If you have a few points on your driving record or you were responsible for an accident, you may be forking out at a minimum $1,800 to $2,500 additional every year, depending on your age. High-risk driver insurance ranges anywhere from 45% to 132% more than average. View High Risk Driver Rates
Your home state plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $1,100 a year in states like New Hampshire, Ohio, and Utah, or as much as $2,060 on average in Florida, Michigan, and New York.
| 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% |
| 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 Shop for the Best Hyundai Ioniq 5 Insurance
Finding cheaper rates on Hyundai Ioniq 5 insurance takes having a good driving record, having above-average credit, not filing small claims, and dropping full coverage on older vehicles. Set aside time to compare rates at every other renewal by requesting rates from direct companies, and also from local exclusive and independent agents.
The next list is a brief recap of the concepts that were covered above.
- High-risk drivers who tend to receive serious violations may pay on average $1,790 more each year to buy Hyundai Ioniq 5 insurance
- Drivers age 20 and younger pay higher rates, as much as $459 each month if full coverage is included
- You may be able to save as much as $190 per year just by shopping early and online
- Increasing comprehensive and collision deductibles could save as much as $675 each year
- You may be able to save as much as $190 per year just by shopping early and online
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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