Hyundai Ioniq 5 Insurance Rates

U.S. average insurance rates for a Hyundai Ioniq 5 are $1,524 a year for full coverage. Comprehensive insurance costs an estimated $356 a year, collision insurance costs $668, and liability coverage is estimated at $364. Buying just liability costs approximately $416 a year, and insurance for high-risk drivers costs $3,310 or more. Teenage drivers 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:

Rate estimates include $500 deductibles, minimum liability limits, and includes additional medical/uninsured motorist coverage. Estimates are averaged for all states and Ioniq 5 trim levels.

Price Range from Low to High

Geographic Price Range

Living in a larger city has a large influence on insurance rates. More rural locations have a lower frequency of accident claims than densely populated cities. The diagram below illustrates how location helps determine insurance prices.

The ranges above show why it is important to get quotes for a targeted area and risk profile, rather than using average rates.

Use the form below to get customized rates for your location.

Additional Rate Analysis

The chart below shows average Hyundai Ioniq 5 insurance rates for other coverage scenarios.

• The best discount rate is $857
• Choosing higher $1,000 deductibles can save approximately $1,292 a year
• The average rate for the average middle-age driver who has $500 deductibles is $1,524
• Using low $100 deductibles for comp and collision coverage will cost an extra $454 each year
• Drivers who are prone to accidents and violations could pay up to $3,310
• The price for full coverage for a teenage driver can cost as much as $5,510 each year

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Insurance prices for a Hyundai Ioniq 5 are also quite variable based on your driving record, the trim level of your Ioniq 5, and liability limits and deductibles.

Older drivers with no violations or accidents and high deductibles may only pay around $1,400 annually on average for full coverage. Prices are much higher for teenage drivers, where even good drivers should be prepared to pay at least $5,500 a year. View Rates by Age

The state you live in plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $1,010 a year in states like Iowa, Maine, and Idaho, or be forced to pay as much as $2,170 on average in New York, Louisiana, and Michigan.

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Using high physical damage deductibles can save as much as $690 a year, while buying higher liability limits will increase premiums. Going from a 50/100 limit to a 250/500 limit will increase prices by as much as $327 more each year. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you could be paying $1,800 to $2,500 additional each year, depending on your age. A high-risk auto insurance policy ranges around 45% to 132% more than a normal policy. View High Risk Driver Rates

How to Find the Best Hyundai Ioniq 5 Insurance

Getting lower rates on auto insurance takes not taking risks behind the wheel, having a good credit history, eliminating unnecessary coverage, and possibly raising deductibles. Invest time comparing rates every couple of years by requesting rates from direct carriers like Progressive and GEICO, and also from local independent and exclusive agents.

The following is a brief recap of the material that was covered in the charts and tables above.

• Consumers who want higher liability limits will pay an extra $400 each year to raise limits from a low limit to 250/500 limits
• Teens are expensive to insure, with premiums as much as $459 a month including comprehensive and collision insurance
• Drivers who tend to receive serious violations pay an average of $1,790 more annually for Ioniq 5 insurance
• Increasing physical damage deductibles can save around $675 each year