Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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Average auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually for full coverage. Comprehensive insurance costs on average $356, collision insurance costs $668, and liability insurance is estimated at $364. A liability-only policy costs approximately $416 a year, and high-risk insurance costs $3,310 or more. Teen drivers receive the highest rates at up to $5,510 a year.
Average premium for full coverage: $1,524
Rate estimates by individual coverage type:
Full coverage includes $500 physical damage insurance deductibles, liability coverage up to 30/60, and includes uninsured motorist and medical coverage. Rates are averaged for all states and for different Ioniq 5 trim levels.
Price Range by Coverage and Risk
Using a middle-aged driver as an example, prices range range from as cheap as $416 for the bare minimum liability coverage to a much higher rate of $3,310 for a high-risk driver policy.
Price Range by Location
Living in a larger city has a significant impact on car insurance rates. Rural areas tend to have fewer accident claims than larger metro areas. The price range example below illustrates how where you live affects car insurance rates.
These examples show why anyone shopping for car insurance should get quotes based on a specific location and their own personal driving habits, rather than relying 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.
Additional Rate Information
The chart below shows average Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.
- The lowest rate with discounts is $857
- Choosing higher $1,000 deductibles can save around $232 a year
- The estimated rate for a 40-year-old driver with $500 deductibles is $1,524
- Choosing more expensive low deductibles for comp and collision coverage costs an additional $454 a year
- High-risk insureds with multiple violations and an at-fault accident could pay upwards of $3,310
- The cost with full coverage for a teen driver with full coverage may cost $5,510 each year
Insurance rates for a Hyundai Ioniq 5 can also vary considerably based on the trim level of your Ioniq 5, your driver profile, and policy deductibles and limits.
An older driver with a clean driving record and high physical damage deductibles could pay as little as $1,400 annually on average for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they can expect to pay upwards of $5,500 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you could be paying at a minimum $1,800 to $2,500 extra per year, depending on your age. High-risk driver insurance ranges anywhere from 45% to 132% more than average. View High Risk Driver Rates
Choosing high deductibles can save as much as $690 each year, while increasing your policy's liability limits will cost you more. Going from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $327 more per year. View Rates by Deductible or Liability Limit
Where you live plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $1,010 a year in states like Idaho, Maine, and Iowa, or as much as $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% |
| 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 More Affordable Hyundai Ioniq 5 Insurance
Saving money on Hyundai Ioniq 5 insurance takes being a low-risk driver, having a good credit history, eliminating unneeded coverage, and determing if full coverage is necessary. Take the time to comparison shop every time your policy renews by quoting rates from direct carriers like Progressive and GEICO, and also from local insurance agents.
The items below are a summary of the information touched on in the above illustrations.
- Drivers can save as much as $190 per year just by shopping early and online
- Teen drivers pay the highest rates, costing as high as $459 per month including comprehensive and collision insurance
- Increasing deductibles could save up to $675 each year
- High-risk drivers who have multiple accidents or major violations may be required to pay an average of $1,790 more each year to insure their Ioniq 5
- Drivers who require more liability coverage will pay about $400 each year to raise limits from a minimum limit to higher 250/500 limits
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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