Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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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...
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UPDATED: Mar 28, 2024
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U.S. average auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually for full coverage. Comprehensive insurance costs approximately $356, collision costs $668, and liability coverage costs $364. Buying just liability costs as little as $416 a year, with insurance for high-risk drivers costing $3,310 or more. Teen drivers pay the highest rates at $5,510 a year or more.
Average premium for full coverage: $1,524
Price estimates by individual coverage:
Prices are based on $500 deductible amounts, liability coverage up to 30/60, and includes both medical and UM/UIM coverage. Estimates are averaged for all states and for all Ioniq 5 models.
Price Range from Low to High
For the average driver, Hyundai Ioniq 5 insurance prices go from as cheap as $416 for basic liability insurance to the much higher price of $3,310 for a high-risk driver policy.
Geographic Price Range
Your location has a large influence on car insurance rates. Rural locations have fewer accident claims than larger metro areas.
The example below illustrates how location impacts auto insurance prices.
The ranges above show why everyone should compare rates using their specific location and their own personal driving habits, rather than 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.
Rate Comparisons
The chart below shows estimated 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 a year
- The estimated rate for the average middle-age driver who chooses $500 deductibles is $1,524
- Choosing pricier low deductibles for comprehensive and collision insurance costs an additional $454 each year
- High-risk insureds with multiple violations and an at-fault accident could pay around $3,310 or more
- The price with full coverage for a teenage driver for full coverage can cost $5,510 a year
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on the trim level and model year, your driver profile, and physical damage deductibles and liability limits.
A more mature driver with no violations or accidents and high physical damage deductibles may only pay around $1,400 per year on average for full coverage. Prices are highest for teenage drivers, where even without any violations or accidents they should be prepared to pay in the ballpark of $5,500 a year. View Rates by Age
If you have some driving violations or you caused a few accidents, you could be paying anywhere from $1,800 to $2,500 additional each year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can cost around 45% to 132% more than average. View High Risk Driver Rates
Choosing high deductibles could save up to $690 a year, whereas buying more liability protection will push prices upward. Going from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $327 more each year. View Rates by Deductible or Liability Limit
The state you live in makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay as low as $1,010 a year in states like Iowa, Maine, and Idaho, or as much as $2,170 on average in New York, Louisiana, 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% |
Since prices can be so different, the only way to know who has the cheapest car insurance prices is to regularly compare prices and see how they stack up. Every company uses a different rate calculation, and prices may be quite different between companies.
| 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 Affordable Hyundai Ioniq 5 Insurance
Getting lower rates on auto insurance not only requires having a good driving record, but also having good credit, eliminating unnecessary coverage, and qualifying for all possible discounts. Spend time shopping around every time your policy renews by getting rate quotes from direct carriers like GEICO, Progressive, and Esurance, and also from several local insurance agents.
The next list is a brief review of the information touched on above.
- Drivers can save around $190 per year simply by quoting online well ahead of the renewal date
- Drivers age 20 and younger are the costliest to insure, with premiums as much as $459 a month if they have full coverage
- Increasing physical damage deductibles could save up to $675 each year
- Drivers with DUI or reckless driving convictions pay on average $1,790 more per year to buy Hyundai Ioniq 5 insurance
- Consumers who purchase increased levels of liability coverage will pay about $400 each year to go from a low 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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