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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Estimated auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually with full coverage. Comprehensive costs on average $356 a year, collision costs $668, and liability insurance is estimated at $364. Liability-only insurance costs approximately $416 a year, with high-risk driver insurance costing around $3,310. 16-year-old drivers pay the most at $5,510 a year or more.
Average premium for full coverage: $1,524
Premium estimates by type of coverage:
Prices include $500 deductible amounts, 30/60 bodily injury liability limits, and includes uninsured motorist and medical coverage. Rates include averaging for all U.S. states and Ioniq 5 trim levels.
Insurance Price Range by Risk and Coverage
For an average driver, insurance rates for a Hyundai Ioniq 5 go from as cheap as $416 for the bare minimum liability coverage to a high of $3,310 for a driver who requires high-risk insurance.
Insurance Price Range by Location
Living in a larger city has a significant impact on auto insurance rates. Rural areas are statistically proven to have fewer collision claims than congested cities.
The diagram below illustrates the effect of geographic area on car insurance rates.
These rate differences demonstrate why it is important to get quotes based on a specific location and their own personal driving habits, rather than relying on 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.
Additional Rate Information
The chart below details estimated Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $857
- Choosing higher $1,000 deductibles can save around $1,292 annually
- The estimated rate for a 40-year-old good driver with $500 deductibles is $1,524
- Buying low $100 deductibles for comp and collision coverage will cost $1,978
- High-risk insureds with multiple tickets or accidents could pay upwards of $3,310 or more
- An auto insurance policy with full coverage for a teen driver may cost $5,510 each year
Insurance prices for a Hyundai Ioniq 5 also have a wide range based on the model of your Ioniq 5, your driving record, and policy deductibles and limits.
Older drivers with no violations or accidents and high physical damage deductibles could pay as little as $1,400 annually on average, or $117 per month, for full coverage. Prices are highest for drivers in their teens, where even without any violations or accidents they should be prepared to pay upwards of $5,500 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you may be forking out at a minimum $1,800 to $2,500 additional annually, depending on your age. A high-risk auto insurance policy ranges anywhere from 45% to 132% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles can save as much as $690 each year, while buying higher liability limits will cost you more. Moving from a 50/100 bodily injury limit to a 250/500 limit will cost up to $327 more each year. View Rates by Deductible or Liability Limit
Where you choose to live plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $1,100 a year in states like New Hampshire, Ohio, and Utah, or 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% |
With such a large range in prices, the best way to find out exactly what you will pay is to get quotes from as many companies as possible. Each auto insurer utilizes a different rate formula, and prices will be substantially 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 the Right Hyundai Ioniq 5 Insurance
Finding better rates on Hyundai Ioniq 5 insurance takes having a good driving record, having good credit, being claim-free, and insuring your home and auto with the same company. Take the time to compare rates at every other renewal by getting rate quotes from direct companies, and also from local independent and exclusive agents.
The next list is a quick rundown of the concepts that were covered in the above illustrations.
- High-risk drivers with reckless driving or DUI convictions pay an average of $1,790 more each year to buy Hyundai Ioniq 5 insurance
- Drivers age 20 and younger pay higher prices, possibly costing $459 per month if they have full coverage
- You may be able to save as much as $190 per year simply by quoting early and online
- Increasing policy deductibles could save up to $675 each year
- You may be able to save as much as $190 per year simply by quoting early and online
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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