Hyundai Ioniq 5 Insurance Rates

The average insurance rates for a Hyundai Ioniq 5 are $1,524 a year for full coverage insurance. Comprehensive insurance costs an estimated $356 a year, collision insurance costs $668, and liability costs $364. Liability-only coverage costs as little as $416 a year, and high-risk coverage 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:

These estimates include $500 deductibles, split liability limits of 30/60, and includes UM/UIM and medical coverage. Prices are averaged for all 50 states and Ioniq 5 trim levels.

Price Range Variability

Urban vs. Rural Price Range

Your location can make a big difference on the price of insurance. More rural locations are shown to have lower incidents of physical damage claims than densely populated cities. The diagram below illustrates the difference location can make on insurance prices.

The examples above illustrate why it is important to compare rates for a targeted area, instead of making a decision based on average rates.

Use the form below to get customized rates for your location.

Rates by State, City, and Model

The chart below illustrates 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 $1,292 each year
• The estimated price for a good driver age 40 who has $500 deductibles is $1,524
• Using low $100 deductibles for comprehensive and collision insurance will cost an additional $454 annually
• Drivers who are prone to accidents and violations could pay up to $3,310
• Policy cost that insures a 16-year-old driver can cost as much as $5,510 a year

View Chart as Image

Insurance rates for a Hyundai Ioniq 5 also range considerably based on the trim level of your Ioniq 5, your age and driving record, and liability limits and deductibles.

If you have a few points on your driving record or you caused an accident, you are probably paying $1,800 to $2,500 additional every year, depending on your age. A high-risk auto insurance policy can cost from 45% to 132% more than a normal policy. View High Risk Driver Rates

Older drivers with no violations or accidents and higher comprehensive and collision deductibles may pay as low as $1,400 per year on average, or $117 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records should be prepared to pay at least $5,500 a year. View Rates by Age

Your home state makes a big difference in Hyundai Ioniq 5 insurance prices. A 40-year-old driver could pay as low as $990 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,060 on average in Florida, New York, and Michigan.

View Chart as Image

Using high physical damage deductibles could save up to $690 annually, while buying higher liability limits will increase premiums. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $327 more each year. View Rates by Deductible or Liability Limit

How to Find Cheap Hyundai Ioniq 5 Insurance

Finding cheaper rates on insurance for a Hyundai Ioniq 5 not only requires not taking risks behind the wheel, but also having a good credit score, being claim-free, and possibly raising deductibles. Compare prices at least once a year by requesting rates from direct insurance companies, and also from local insurance agencies.

The following is a brief summary of the primary concepts that were touched on in this article.

• It is possible to save approximately $190 per year just by quoting early and online
• Drivers considered higher risk that tend to have accidents or serious violations may have to pay on average $1,790 more annually for Ioniq 5 insurance
• Increasing comprehensive and collision deductibles can save approximately $675 each year
• Teens are expensive to insure, possibly costing $459 each month if comprehensive and collision insurance is included