Hyundai Ioniq 5 Insurance Rates
Enter your zip code below to view companies that have cheap auto insurance rates.
Michelle Robbins
Licensed Insurance Agent
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...
Licensed Insurance Agent
UPDATED: Mar 28, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
The average insurance rates for a Hyundai Ioniq 5 are $1,524 a year for full coverage insurance. Comprehensive insurance costs approximately $356, 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. 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:
Price estimates include $500 comprehensive and collision deductibles, 30/60 liability limits, and includes medical and uninsured motorist coverage. Prices are averaged for all 50 states and for different Ioniq 5 trim levels.
Price Range Variability
Using a 40-year-old driver as an example, Hyundai Ioniq 5 insurance rates range from as low as $416 for just liability coverage to a much higher rate of $3,310 for a driver required to buy high-risk insurance.
Urban vs. Rural Price Range
Your location can make a big difference on the price of auto insurance. Rural locations are shown to have a lower frequency of physical damage claims than larger metro areas. The price range example below illustrates how rural and urban location affects auto insurance prices.
The examples above illustrate why anyone shopping for car insurance should compare rates using their specific location and risk profile, instead of making a decision based 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.
Detailed Rate Analysis
The chart below illustrates average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $857
- Drivers who choose higher $1,000 deductibles will pay $232 each year
- The average rate for a good driver age 40 who chooses $500 deductibles is $1,524
- Choosing more expensive low deductibles for comprehensive and collision insurance will cost an extra $454 annually
- Drivers with multiple violations and an at-fault accident could pay around $3,310
- Policy cost for full coverage for a 16-year-old driver with full coverage can cost $5,510 a year
Insurance rates for a Hyundai Ioniq 5 also range considerably based on your risk profile, the model year and trim level, and physical damage deductibles and liability limits.
An older driver with no violations or accidents and high 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 good drivers should be prepared to pay in the ballpark of $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 as much as $2,060 on average in Florida, New York, and Michigan.
| 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% |
Choosing high deductibles could save up to $690 annually, while increasing your policy's liability limits will push rates upward. Switching from a 50/100 limit to a 250/500 limit will raise rates by up to $327 more each year. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you are probably paying anywhere from $1,800 to $2,500 additional every year, depending on your age. High-risk driver insurance can cost from 45% to 132% more than average. View High Risk Driver Rates
| 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 Find Cheaper Hyundai Ioniq 5 Insurance
Finding cheaper rates on insurance for a Hyundai Ioniq 5 not only requires having a decent driving record, but also having a good credit history, being claim-free, and consideration of higher deductibles. Set aside time to shop around at every policy renewal by requesting quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from your local independent and exclusive agents.
The following items are a condensed summary of the data raised in the charts and tables above.
- Insureds who purchase additional liability coverage will pay about $400 annually to go from a 30/60 limit to 250/500 limits
- It is possible to save around $190 per year just by shopping early and online
- Increasing comprehensive and collision deductibles can save around $675 each year
- 16 to 18-year-old drivers are the costliest to insure, possibly costing $459 each month including comprehensive and collision insurance
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.
Compare Rates and Save
Find companies with the cheapest rates in your area
Secured with SHA-256 Encryption
