Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: Mar 28, 2024
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Estimated insurance prices for a Hyundai Ioniq 5 are $1,556 every 12 months for full coverage. Comprehensive insurance costs around $368, collision insurance costs $698, and liability is $354. A liability-only policy costs around $406 a year, and high-risk insurance costs $3,374 or more. Teen drivers pay the most at up to $5,590 a year.
Average premium for full coverage: $1,556
Premium estimates for type of coverage:
Full coverage includes $500 physical damage deductibles, liability coverage up to 30/60, and includes medical and UM/UIM coverage. Rates include averaging for all states and for different Ioniq 5 trim levels.
Insurance Price Range by Risk and Coverage
For the normal driver, insurance rates for a Hyundai Ioniq 5 range from the cheapest price of $406 for just liability insurance to a much higher rate of $3,374 for a high-risk driver policy.
Insurance Price Range by Location
Choosing to live in a large city can have significant affects on auto insurance rates. Areas with sparse population are statistically proven to have more infrequent accident claims than larger metro areas. The price range example below illustrates how geographic area affects auto insurance rates.
These rate differences show why anyone shopping for car insurance should compare rates quotes for a specific zip code and their own driving history, 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.
More Rate Details
The chart below shows average Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $870
- Raising to $1,000 deductibles will save about $242 a year
- The average price for a 40-year-old good driver using $500 deductibles is $1,556
- Choosing more expensive low deductibles costs an extra $472 every year
- At-risk drivers with multiple violations and an at-fault accident could pay at least $3,374
- An auto insurance policy to insure a teen driver with full coverage can be $5,590
Auto insurance prices for a Hyundai Ioniq 5 also have a wide range based on physical damage deductibles and liability limits, your driver profile, and the trim level and model year.
Choosing high deductibles can reduce prices by up to $720 every year, while increasing your policy's liability limits will increase prices. Going from a 50/100 liability limit to a 250/500 limit will cost up to $318 extra every year. View Rates by Deductible or Liability Limit
An older driver with a good driving record and higher deductibles may pay as little as $1,400 every 12 months on average, or $117 per month, for full coverage. Prices are highest for drivers in their teens, since even excellent drivers will have to pay as much as $5,500 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you could be paying at least $1,800 to $2,500 in extra premium annually, depending on your age. High-risk driver insurance is expensive and can cost as much as 45% to 129% more than average. View High Risk Driver Rates
Where you choose to live also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find prices as low as $1,030 a year in states like Idaho, Maine, and Iowa, or as much as $2,220 on average in Michigan, Louisiana, and New York.
| 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% |
| 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 Shop for More Affordable Hyundai Ioniq 5 Insurance
Finding better rates on car insurance consists of being a safe and courteous driver, having a good credit score, not filing small claims, and possibly raising deductibles. Invest the time to compare rates every time your policy renews by obtaining price quotes from direct carriers, and also from local exclusive and independent agents.
Below is a summary of the information presented in the illustrations above.
- Drivers can save up to $200 per year just by shopping early and online
- Teenage drivers are expensive to insure, as much as $466 per month if comprehensive and collision insurance is included
- Increasing policy deductibles could save as much as $725 each year
- Higher risk drivers who have multiple accidents or major violations may pay on average $1,820 more every year for auto insurance
- Policyholders who may need higher levels of liability will pay about $390 each year to raise from 30/60 bodily injury limits to a 250/500 level
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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