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 auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually with full coverage. Comprehensive costs around $356 each year, collision costs $668, and liability costs $364. Liability-only coverage costs as little as $416 a year, with high-risk coverage costing around $3,310. Teens pay the highest rates at $5,510 a year or more.
Average premium for full coverage: $1,524
Price estimates for individual coverage:
Prices are based on $500 physical damage deductibles, minimum liability limits, and includes uninsured motorist and medical coverage. Estimates are averaged for all U.S. states and Ioniq 5 models.
Price Range from Low to High
Using a middle-aged driver as an example, Hyundai Ioniq 5 insurance prices go from as cheap as $416 for the bare minimum liability coverage to a high rate of $3,310 for high-risk insurance.
Geographic Price Range
Your location can have significant affects on insurance rates. Areas with sparse population have fewer collision claims than cities with more traffic congestion.
The graphic below illustrates how where you live affects auto insurance rates.
The ranges above demonstrate why all drivers should compare rates 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 Rate Information
The chart below details estimated Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The cheapest rate after discounts is $857
- Drivers who choose higher $1,000 deductibles will pay about $232 annually
- The estimated rate for the average middle-age driver using $500 deductibles is $1,524
- Selecting low deductibles for comprehensive and collision insurance will cost $1,978
- Higher-risk drivers with serious driving violations could pay at least $3,310 or more
- The price with full coverage for a teen driver can be $5,510 a year
Auto insurance prices for a Hyundai Ioniq 5 are also quite variable based on the trim level and model year, your driving record, and deductibles and policy limits.
More mature drivers with a good driving record and high physical damage deductibles may pay as little as $1,400 per year on average for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they will have to pay as much as $5,500 a year. View Rates by Age
If you have some driving violations or you caused a few accidents, you may be forking out at least $1,800 to $2,500 in extra premium each year, depending on your age. Insurance for high-risk drivers 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 could save up to $690 every year, whereas increasing liability limits will increase prices. Moving from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $327 extra every year. View Rates by Deductible or Liability Limit
The state you live in makes a big difference in Hyundai Ioniq 5 insurance prices. A 40-year-old driver could pay as low as $1,100 a year in states like New Hampshire, Ohio, and Utah, or have to pay at least $2,060 on average in Florida, Michigan, 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% |
Since prices can be so different, the best way to find out your exact price is to do a rate comparison and see which company has the best price. Every company calculates prices differently, and quoted prices may be quite 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
Getting lower rates on car insurance not only requires being a safe and courteous driver, but also having above-average credit, avoid buying unnecessary coverage, and maximizing policy discounts. Take the time to comparison shop every couple of years by getting quotes from direct companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
Below is a brief review of the material that was touched on in the above illustrations.
- Policyholders who may need higher levels of liability will pay approximately $400 every year to go from a low limit to higher 250/500 limits
- Teenage drivers are expensive to insure, costing up to $459 a month if full coverage is included
- Higher risk drivers with DUI or reckless driving convictions may pay on average $1,790 more every year for auto insurance
- Increasing physical damage 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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