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 auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually with full coverage. Comprehensive insurance costs an estimated $356, collision insurance costs $668, and liability insurance costs $364. Buying just liability costs as little as $416 a year, and insurance for high-risk drivers costs $3,310 or more. Teenage drivers cost the most to insure at up to $5,510 a year.
Average premium for full coverage: $1,524
Policy rates broken down by type of insurance:
Prices are based on $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes both medical and UM/UIM coverage. Prices are averaged for all U.S. states and for different Ioniq 5 trim levels.
Price Range Variability
For the normal driver, Hyundai Ioniq 5 insurance rates range from as cheap as $416 for basic liability insurance to a much higher rate of $3,310 for a policy for a high-risk driver.
Urban vs. Rural Price Range
Your location has a significant impact on car insurance rates. More rural locations are shown to have fewer collision claims than densely populated cities. The price range example below illustrates how geographic area affects insurance prices.
The examples above demonstrate why anyone shopping for car insurance should compare rates for a targeted area and their own personal driving habits, rather than relying on 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.
Rate Comparisons
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 estimated rate for a good driver age 40 who has $500 deductibles is $1,524
- Using more expensive low deductibles for comprehensive and collision insurance costs an additional $454 a year
- High risk drivers who are prone to accidents and violations could pay up to $3,310
- Policy cost with full coverage for a teen driver with full coverage can cost as much as $5,510 a year
Insurance rates for a Hyundai Ioniq 5 also range considerably based on the model year and trim level, your driving record, and liability limits and deductibles.
An older driver with a clean driving record and high physical damage deductibles could pay as little as $1,400 per year on average, or $117 per month, for full coverage. Rates are much higher for teenagers, where even without any violations or accidents they can expect to pay at least $5,500 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you may be forking out $1,800 to $2,500 extra every year, depending on your age. High-risk driver insurance can cost anywhere from 45% to 132% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles could save up to $690 each year, while increasing your policy's liability limits will increase premiums. Moving from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $327 more per year. View Rates by Deductible or Liability Limit
Your home state makes a big difference in Hyundai Ioniq 5 insurance rates. 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% |
| 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 Buy Affordable Hyundai Ioniq 5 Insurance
Finding cheaper rates on Hyundai Ioniq 5 insurance not only requires having a decent driving record, but also having a good credit history, not filing small claims, and deciding if full coverage is necessary. Invest the time to compare rates every year by getting quotes from direct companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.
The following items are a brief review of the coverage data presented in the illustrations above.
- You may be able to save approximately $190 per year just by shopping early and online
- Increasing comprehensive and collision deductibles could save up to $675 each year
- 16 to 18-year-old drivers are charged the highest rates, as much as $459 each month including comprehensive and collision insurance
- High-risk drivers with DUI or reckless driving convictions pay on average $1,790 more annually than a driver with a clean driving record
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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