Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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The average insurance rates for a Hyundai Ioniq 5 are $1,524 a year for full coverage insurance. Comprehensive costs approximately $356 a year, collision costs $668, and liability is $364. Buying just liability costs around $416 a year, with insurance for high-risk drivers costing around $3,310. Teenage drivers cost the most to insure at $5,510 a year or more.
Average premium for full coverage: $1,524
Policy rates by type of insurance:
Price estimates include $500 policy deductibles, minimum liability limits, and includes medical and UM/UIM coverage. Prices are averaged for all 50 states and Ioniq 5 trim levels.
Price Range Variability
For the average driver, Hyundai Ioniq 5 insurance rates go from the low end price of $416 for just liability insurance to a high of $3,310 for high-risk insurance.
Urban vs. Rural Price Range
Choosing to live in a large city can make a big difference on the price of auto insurance. Rural locations are shown to have lower incidents of physical damage claims than densely populated cities.
The diagram below illustrates how location impacts auto insurance prices.
The examples above illustrate why it is important to compare rates quotes using their specific location, instead of making a decision based 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 additional coverage and risk scenarios.
- The best discount rate is $857
- Raising to $1,000 deductibles will save $1,292 each year
- The estimated price for a good driver age 40 who chooses $500 deductibles is $1,524
- Using low $100 deductibles bumps up the cost to $1,978
- Drivers who are prone to accidents and violations could pay around $3,310 or more
- Policy cost that insures a 16-year-old driver can cost $5,510
Insurance rates for a Hyundai Ioniq 5 also range considerably based on the trim level of your Ioniq 5, your age and driving record, and physical damage deductibles and liability limits.
If you have a few points on your driving record or you caused an accident, you are probably paying anywhere from $1,800 to $2,500 extra every year, depending on your age. A high-risk auto insurance policy is expensive and can cost from 45% to 132% more than a normal policy. View High Risk Driver Rates
Older drivers with a clean driving record and higher comprehensive and collision deductibles may pay as low as $1,400 every 12 months on average, or $117 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records can expect to pay in the ballpark of $5,500 a year. View Rates by Age
Your home state also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find rates as low as $990 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay 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% |
Using high physical damage deductibles can reduce rates by up to $690 annually, while buying higher liability limits will push rates upward. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $327 more per year. View Rates by Deductible or Liability Limit
Because rates have so much variability, the only way to figure out who has the best car insurance rates is to get quotes from multiple companies. Every auto insurance company uses a different method to calculate rates, so the 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 Find Cheaper Hyundai Ioniq 5 Insurance
Finding cheaper rates on insurance for a Hyundai Ioniq 5 consists of being a good driver, having above-average credit, being claim-free, and maximizing policy discounts. Compare prices every couple of years by requesting rates from direct insurance companies, and also from your local car insurance providers.
The following list is a condensed summary of the material that was touched on above.
- Insureds who purchase an increased level of liability coverage will pay an extra $400 annually to raise from a 30/60 limit to the 250/500 level
- Drivers age 16 to 20 are expensive to insure, possibly costing $459 each month if full coverage is included
- Drivers considered higher risk with multiple at-fault accidents could be charged and average of $1,790 more per year than a safer driver
- Increasing comprehensive and collision deductibles can save approximately $675 each year
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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