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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Average auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually for full coverage. Comprehensive costs around $356, collision costs $668, and liability is $364. A liability-only policy costs around $416 a year, with high-risk insurance costing around $3,310. Teens receive the highest rates at $5,510 a year or more.
Average premium for full coverage: $1,524
Rate estimates for individual coverage type:
Prices are based on $500 deductible amounts, 30/60 split liability limits, and includes medical/PIP and uninsured motorist coverage. Rates are averaged for all states and for all Ioniq 5 models.
Price Range by Coverage and Risk
Using a middle-aged driver as an example, prices range go from as cheap as $416 for liability-only coverage to the much higher price of $3,310 for a high-risk insurance policy.
Price Range by Location
Choosing to live in a large city can have significant affects on auto insurance rates. Areas with sparse population tend to have fewer accident claims than cities with more traffic congestion.
The example below illustrates how where you live affects auto insurance rates.
These examples show why everyone should compare rates quotes for a specific zip code and their own personal driving habits, instead of using averaged prices.
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 Charts and Tables
The chart below shows estimated Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The cheapest rate after discounts is $857
- Raising to $1,000 deductibles will save about $232 a year
- The estimated rate for a 40-year-old driver using $500 deductibles is $1,524
- Selecting pricier low deductibles will cost $1,978
- At-risk drivers with serious driving violations could pay at least $3,310 or more
- The cost with full coverage for a teen driver for full coverage can be $5,510
Insurance rates for a Hyundai Ioniq 5 can also vary considerably based on the trim level of your Ioniq 5, your driver profile, and deductibles and policy limits.
A more mature driver with a clean driving record and high physical damage deductibles may pay as little as $1,400 every 12 months on average for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they can expect to pay as much as $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 least $1,800 to $2,500 extra per 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 the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles can reduce rates by up to $690 every year, whereas buying more liability protection will increase rates. 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 also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find rates as low as $1,010 a year in states like Idaho, Maine, and Iowa, or have to pay at least $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% |
With so much variability in rates, the only way to know your exact price is to regularly compare rates and see which company has the best rate. Every auto insurance company calculates rates differently, so the rates can be significantly 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
Saving money on car insurance consists of having a good driving record, having a good credit history, eliminating unneeded coverage, and insuring your home and auto with the same company. Take the time to comparison shop at least every other year by getting quotes from direct carriers like Progressive and GEICO, and also from local independent and exclusive agents.
The next list is a brief review of the car insurance concepts touched on in the above illustrations.
- Higher risk drivers with DUI or reckless driving convictions pay an average of $1,790 more every year to buy Hyundai Ioniq 5 insurance
- Drivers can save up to $190 per year simply by quoting online well ahead of the renewal date
- Increasing deductibles could save up to $675 each year
- Policyholders who may need increased levels of liability coverage will pay approximately $400 each year to raise 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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