Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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The average auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually for full coverage insurance. Comprehensive costs an estimated $356 each year, collision insurance costs $668, and liability coverage costs $364. A liability-only policy costs as little as $416 a year, and high-risk insurance costs around $3,310. 16-year-old drivers cost the most to insure at up to $5,510 a year.
Average premium for full coverage: $1,524
Policy rates broken down by type of insurance:
These 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 models.
Price Range Variability
For a driver around age 40, Hyundai Ioniq 5 insurance rates range from as cheap as $416 for just liability insurance to a high rate of $3,310 for high-risk insurance.
Urban vs. Rural Price Range
Your location has a large influence on the price of insurance. More rural locations are shown to have fewer physical damage claims than congested cities. The graphic below illustrates the difference between rural and urban areas on insurance prices.
The examples above illustrate why all drivers should compare rates for a targeted area and their own personal driving habits, rather than using rate 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.
More Rate Details
The chart below illustrates average Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The best full coverage rate is $857
- Drivers who choose higher $1,000 deductibles will pay approximately $232 each year
- The estimated rate for a good driver age 40 who has $500 deductibles is $1,524
- Buying low deductibles for comprehensive and collision insurance will cost $1,978
- High-risk insureds with multiple tickets or accidents could pay up to $3,310
- Policy cost with full coverage for a teenage driver can cost as much as $5,510 a year
Car insurance rates for a Hyundai Ioniq 5 also range considerably based on the model year and trim level, your risk profile, and liability limits and deductibles.
More mature drivers with no driving violations and high physical damage deductibles may only pay around $1,400 per year on average, or $117 per month, for full coverage. Rates are highest for teenagers, where even without any violations or accidents they will be charged at least $5,500 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you are probably paying $1,800 to $2,500 extra every year, depending on your age. Insurance for high-risk drivers can cost around 45% to 132% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles could save up to $690 a year, whereas increasing liability limits will increase premiums. Switching from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $327 extra every 12 months. View Rates by Deductible or Liability Limit
Your home state makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay as low as $990 a year in states like North Carolina, Wisconsin, and Vermont, or at least $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% |
| 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 Cheap Hyundai Ioniq 5 Insurance
Finding cheaper rates on auto insurance not only requires being safe and accident-free, but also having a good credit score, being claim-free, and possibly higher deductibles. Set aside time to compare rates every couple of years by requesting quotes from direct insurance companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
Below you'll find a brief summary of the material that was covered above.
- Consumers who want more liability protection will pay around $400 annually to go from a 30/60 limit to higher 250/500 limits
- Youthful drivers have the highest car insurance rates, possibly costing $459 each month if comprehensive and collision insurance is included
- Drivers that tend to have accidents or serious violations may pay on average $1,790 more annually than a low-risk driver
- Increasing comprehensive and collision deductibles could save up to $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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