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 for full coverage. Comprehensive insurance costs around $356, collision costs $668, and liability costs $364. A liability-only policy costs as little as $416 a year, with high-risk insurance costing $3,310 or more. 16-year-old drivers cost the most to insure at $5,510 a year or more.
Average premium for full coverage: $1,524
Policy rates for type of insurance:
Rates are based on $500 policy deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all states and for all Ioniq 5 models.
Price Range Variability
For the normal driver, Hyundai Ioniq 5 insurance rates go from as cheap as $416 for liability-only coverage to the much higher price of $3,310 for coverage for higher-risk drivers.
Urban vs. Rural Price Range
Your location can make a big difference on auto insurance rates. Areas with sparse population are shown to have fewer accident claims than congested cities.
The example below illustrates how geographic area affects auto insurance rates.
The examples above show why everyone should compare rates for a specific zip code and their own personal driving habits, instead of making a decision based on rate 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 shows estimated Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $857
- Drivers who choose higher $1,000 deductibles will pay about $232 a year
- The estimated rate for a good driver age 40 using $500 deductibles is $1,524
- Buying pricier low deductibles for comprehensive and collision insurance costs an additional $454 annually
- Drivers with multiple tickets or accidents could pay at least $3,310 or more
- Policy cost with full coverage for a 16-year-old driver for full coverage can be $5,510 a year
Car insurance rates for a Hyundai Ioniq 5 also range considerably based on the model year and trim level, your driver profile, and deductibles and policy limits.
A more mature driver with no driving violations and high physical damage deductibles may pay as low as $1,400 per year on average, or $117 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they will be charged as much as $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 could be paying at least $1,800 to $2,500 extra every year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can cost from 45% to 132% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles could save up to $690 annually, whereas buying more liability protection will increase rates. Going from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $327 extra every 12 months. View Rates by Deductible or Liability Limit
Your home state makes a big difference in Hyundai Ioniq 5 insurance prices. A 40-year-old driver could pay as low as $1,010 a year in states like Idaho, Maine, and Iowa, or at least $2,170 on average in Michigan, Louisiana, 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% |
Because rates have so much variability, the only way to know your exact price is to regularly compare rates from multiple companies. Every company utilizes a different rate formula, so rate quotes will be varied between companies.
| 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 the Best Cheap Hyundai Ioniq 5 Insurance
Finding cheaper rates on insurance for a Hyundai Ioniq 5 not only requires being a good driver, but also having a good credit score, avoid buying unnecessary coverage, and qualifying for all possible discounts. Invest the time to compare rates at least once a year by getting rate quotes from direct carriers like Progressive, GEICO, and Esurance, and also from local independent and exclusive agents.
The following list is a quick review of the primary concepts that were presented in the illustrations above.
- Drivers can save up to $190 per year simply by quoting online well ahead of the renewal date
- Drivers considered higher risk with a DUI or reckless driving violation pay an average of $1,790 more every year than a safer driver
- Increasing comprehensive and collision deductibles could save up to $675 each year
- Drivers age 16 to 20 are the costliest to insure, costing up to $459 each month if comprehensive and collision insurance is included
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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