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 insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months including full coverage. Comprehensive insurance costs an estimated $356, collision costs $668, and liability is $364. Liability-only coverage costs around $416 a year, with high-risk coverage costing $3,310 or more. Teen drivers cost the most to insure at $5,510 a year or more.
Average premium for full coverage: $1,524
Policy rates broken down by type of insurance:
Includes $500 physical damage deductibles, 30/60 split liability limits, and includes uninsured motorist and medical coverage. Prices are averaged for all 50 U.S. states and for all Ioniq 5 models.
Price Range Variability
Using a middle-aged driver as an example, Hyundai Ioniq 5 insurance rates go from the cheapest price of $416 for the bare minimum liability coverage to the much higher price of $3,310 for a high-risk insurance policy.
Urban vs. Rural Price Range
Choosing to live in a large city can have significant affects on the price of auto insurance. More rural locations are shown to have more infrequent comprehensive and collision claims than larger metro areas.
The example below illustrates how where you live affects insurance prices.
The examples above highlight why everyone should compare rates quotes for a targeted area 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.
Additional Rate Information
The chart below breaks down estimated Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The lowest rate with discounts is $857
- Raising to $1,000 deductibles will save approximately $232 every year
- The average price for a good driver age 40 who has $500 deductibles is $1,524
- Choosing pricier low deductibles costs an extra $454 every year
- At-risk drivers with multiple violations and an at-fault accident could pay up to $3,310 or more
- Policy cost to insure a teen driver for full coverage can cost as much as $5,510
Insurance rates for a Hyundai Ioniq 5 also range considerably based on liability limits and deductibles, your driving characteristics, and the model year and trim level.
Choosing high deductibles can reduce rates by up to $690 every year, whereas buying more liability protection will increase premiums. Changing from a 50/100 liability limit to a 250/500 limit will raise rates by up to $327 more each year. View Rates by Deductible or Liability Limit
A more mature driver with no violations or accidents and higher deductibles may pay as little as $1,400 every 12 months on average, or $117 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers should be prepared to pay at least $5,500 a year. View Rates by Age
If you have a few points on your driving record or you were responsible for an accident, you are likely paying $1,800 to $2,500 additional every year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers is expensive and can cost as much as 45% to 132% more than average. View High Risk Driver Rates
Your home state also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find rates as low as $1,170 a year in states like Vermont, New Hampshire, and Missouri, or as much as $2,170 on average in Louisiana, 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% |
Because rates have so much variability, the best way to figure out which auto insurance is cheapest is to regularly compare rates and see which company has the best rate. Every auto insurance company uses a different rate calculation, and rates will be varied.
| 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 Shop for the Cheapest Hyundai Ioniq 5 Insurance
Finding cheaper rates on car insurance consists of being a safe and courteous driver, having above-average credit, paying for small claims out-of-pocket, and maximizing policy discounts. Take the time to comparison shop at least every other year by requesting quotes from direct car insurance companies, and also from local insurance agencies.
Below is a recap of the car insurance concepts touched on in the above illustrations.
- Higher risk drivers that have major violations or accidents may have to pay on average $1,790 more annually for auto insurance
- You may be able to save approximately $190 per year simply by quoting online well ahead of the renewal date
- Increasing comprehensive and collision deductibles could save as much as $675 each year
- Policyholders who want higher levels of liability will pay about $400 per year to raise from a 30/60 limit to a 250/500 level
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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