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 insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months with full coverage. Comprehensive insurance costs an estimated $356 each year, collision insurance costs $668, and liability is estimated at $364. Buying just liability costs approximately $416 a year, and insurance for high-risk drivers costs $3,310 or more. Teens pay the highest rates at up to $5,510 a year.
Average premium for full coverage: $1,524
Price estimates broken down by individual coverage:
Prices are based on $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes medical and uninsured motorist coverage. Estimates are averaged for all U.S. states and Ioniq 5 models.
Price Range from Low to High
For an average driver, Hyundai Ioniq 5 insurance prices range from the cheapest price of $416 for just liability coverage to a high rate of $3,310 for a high-risk insurance policy.
Geographic Price Range
Living in a larger city can make a big difference on car insurance rates. More rural locations have more infrequent collision claims than cities with more traffic congestion. The graphic below illustrates the effect of geographic area on insurance prices.
The ranges above demonstrate why all drivers should get quotes for a targeted area and their own driving history, instead of making a decision based on 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.
Detailed Rate Analysis
The chart below details average Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $857
- Choosing higher $1,000 deductibles can save approximately $232 annually
- The average price for the average middle-age driver who has $500 deductibles is $1,524
- Selecting low deductibles for comp and collision coverage costs an extra $454 annually
- Higher-risk drivers with serious driving violations could pay up to $3,310
- The price to insure a 16-year-old driver can cost as much as $5,510 each year
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on deductibles and policy limits, your driving record, and the model year and trim level.
Choosing higher comprehensive and collision insurance deductibles can save as much as $690 annually, whereas increasing liability limits will increase premiums. Moving from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $327 more each year. View Rates by Deductible or Liability Limit
More mature drivers with no violations or accidents and higher deductibles may pay as low as $1,400 annually on average for full coverage. Prices are much higher for teenage drivers, since even excellent drivers should be prepared to pay at least $5,500 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you may be forking out $1,800 to $2,500 additional each year, depending on your age. Insurance for high-risk drivers ranges from 45% to 132% more than the average policy. View High Risk Driver Rates
The state you live in plays a big part in determining prices for Hyundai Ioniq 5 insurance prices. A good driver about age 40 could pay as low as $1,100 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,060 on average in New York, Michigan, 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% |
| 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 Affordable Hyundai Ioniq 5 Insurance
Getting lower rates on insurance for a Hyundai Ioniq 5 takes avoiding accidents and violations, having above-average credit, avoid buying unnecessary coverage, and possibly raising deductibles. Take the time to compare rates at least every other year by getting quotes from direct companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
The list below is a brief review of the car insurance concepts covered in the above illustrations.
- Drivers considered higher risk with DUI or reckless driving convictions may pay on average $1,790 more annually for car insurance
- You may be able to save approximately $190 per year just by quoting online in advance
- Increasing physical damage deductibles could save as much as $675 each year
- Insureds who want higher liability limits will pay approximately $400 every year to raise limits from a low 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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