Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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U.S. average insurance rates for a Hyundai Ioniq 5 are $1,524 a year for full coverage insurance. Comprehensive costs on average $356, collision costs $668, and liability insurance is estimated at $364. Buying just liability costs approximately $416 a year, with insurance for high-risk drivers costing around $3,310. Teenage drivers pay the highest rates at $5,510 a year or more.
Average premium for full coverage: $1,524
Price estimates by individual coverage:
Rate estimates include $500 policy deductibles, split liability limits of 30/60, and includes medical and UM/UIM coverage. Estimates are averaged for all 50 states and for different Ioniq 5 trim levels.
Price Range from Low to High
For a driver around age 40, Hyundai Ioniq 5 insurance prices go from as low as $416 for just liability insurance to a much higher rate of $3,310 for coverage for higher-risk drivers.
Geographic Price Range
Living in a larger city has a significant impact on insurance rates. Rural areas have a lower frequency of physical damage claims than densely populated cities.
The price range example below illustrates the difference between rural and urban areas on car insurance rates.
The ranges above illustrate why anyone shopping for car insurance should get quotes based on a specific location and risk profile, rather than relying on average rates.
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 illustrates estimated Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.
- The best discount rate is $857
- Choosing higher $1,000 deductibles can save around $232 each year
- The average rate for the average middle-age driver with $500 deductibles is $1,524
- Using more expensive low deductibles for comp and collision coverage will increase the cost to $1,978
- High-risk insureds who are prone to accidents and violations could pay upwards of $3,310 or more
- The price for full coverage for a teen driver with full coverage may cost $5,510 each year
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on your driving record, the model year and trim level, and policy deductibles and limits.
An older driver with no violations or accidents and high deductibles could pay as little as $1,400 annually on average for full coverage. Prices are much higher for teenage drivers, where even good drivers should be prepared to pay upwards of $5,500 a year. View Rates by Age
The state you live in plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $990 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,060 on average in Michigan, New York, and Florida.
| 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% |
Using high physical damage deductibles can save as much as $690 each year, while increasing your policy's liability limits will cost you more. Switching from a 50/100 limit to a 250/500 limit will increase prices by as much as $327 more each year. View Rates by Deductible or Liability Limit
If you have some driving violations or tend to cause accidents, you are probably paying at a minimum $1,800 to $2,500 additional each year, depending on your age. High-risk driver insurance ranges anywhere from 45% to 132% more than a normal policy. View High Risk Driver Rates
Since prices can be so different, the only way to figure out exactly what you will pay is to compare prices from as many companies as possible. Each auto insurer uses a different method to calculate prices, and prices may be quite different from one company to the next.
| 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 the Best Hyundai Ioniq 5 Insurance
Getting lower rates on Hyundai Ioniq 5 insurance takes avoiding accidents and claims, having a good credit history, not filing small claims, and insuring your home and auto with the same company. Set aside time to compare rates at least once a year by requesting rates from direct insurance companies like Progressive and GEICO, and also from local independent and exclusive agents.
The points below are a brief recap of the primary concepts that were covered above.
- It is possible to save as much as $190 per year simply by shopping early and online
- High-risk drivers who tend to receive serious violations pay an average of $1,790 more each year to insure a Hyundai Ioniq 5
- Increasing physical damage deductibles can save around $675 each year
- Drivers under the age of 20 pay higher prices, as much as $459 a 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.
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