Hyundai Ioniq 5 Insurance Rates

The average insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months including full coverage. Comprehensive insurance costs approximately $356 each 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 cost the most to insure at up to $5,510 a year.

Average premium for full coverage: $1,524

Policy rates by type of insurance:

Price estimates include $500 policy deductibles, 30/60 liability limits, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all 50 U.S. states and Ioniq 5 models.

Price Range Variability

Urban vs. Rural Price Range

Living in a larger city has a large influence on car insurance prices. Rural locations are shown to have more infrequent comprehensive and collision claims than densely populated cities. The graphic below illustrates how location impacts auto insurance prices.

The examples above highlight why all drivers should get quotes using their specific location and their own driving history, rather than using average rates.

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

Additional Charts and Tables

The chart below breaks down average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.

• The best discount rate is $857
• Choosing higher $1,000 deductibles can save $232 every year
• The average price for a good driver age 40 who chooses $500 deductibles is $1,524
• Using low deductibles for comp and collision coverage costs an extra $454 each year
• Drivers who are prone to accidents and violations could pay around $3,310
• Policy cost to insure a teenage driver can cost $5,510 each year

View Chart as Image

Insurance rates for a Hyundai Ioniq 5 also range considerably based on liability limits and deductibles, your driving characteristics, and the model of your Ioniq 5.

Using high physical damage deductibles can save as much as $690 a year, whereas increasing liability limits will push rates upward. Changing from a 50/100 liability limit to a 250/500 limit will raise rates by up to $327 more per year. View Rates by Deductible or Liability Limit

More mature drivers with a clean driving record and higher deductibles may only pay around $1,400 annually on average, or $117 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers can expect to pay in the ballpark of $5,500 a year. View Rates by Age

If you have a few points on your driving record or you were responsible for an accident, you are likely paying anywhere from $1,800 to $2,500 extra every year, depending on your age. Insurance for high-risk drivers ranges around 45% to 132% more than a normal policy. View High Risk Driver Rates

Your home state plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $1,170 a year in states like Vermont, New Hampshire, and Missouri, or be forced to pay as much as $2,170 on average in Louisiana, New York, and Michigan.

View Chart as Image

How to Shop for Cheaper Hyundai Ioniq 5 Insurance

Finding cheaper rates on auto insurance takes avoiding accidents and claims, having good credit, paying for small claims out-of-pocket, and possibly raising deductibles. Spend time shopping around at every policy renewal by getting quotes from direct car insurance companies, and also from your local car insurance providers.

The points below are a condensed summary of the data touched on above.

• Consumers who purchase increased liability limits will pay an extra $400 per year to raise limits from a 30/60 limit to a 250/500 level
• You may be able to save around $190 per year just by quoting online in advance
• Increasing comprehensive and collision deductibles could save as much as $675 each year
• Drivers under the age of 20 are expensive to insure, with premiums being up to $459 each month if they have full coverage