Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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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 is estimated at $364. A liability-only policy costs approximately $416 a year, and high-risk insurance costs $3,310 or more. Teens 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:
Includes $500 policy deductibles, bodily injury liability limits of 30/60, and includes both medical and uninsured motorist insurance. Prices are averaged for all 50 U.S. states and Ioniq 5 models.
Price Range Variability
For the average 40-year-old driver, Hyundai Ioniq 5 insurance rates range from the cheapest price of $416 for minimum levels of liability insurance to a high rate of $3,310 for a driver who has had serious violations or accidents.
Urban vs. Rural Price Range
Living in a larger city can make a big difference on car insurance prices. Rural locations are shown to have more infrequent comprehensive and collision claims than cities with more traffic congestion. The graphic below illustrates the difference location can make on auto insurance prices.
The examples above highlight why all drivers should get quotes using their specific location and their own driving history, instead of making a decision based on 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 Details
The chart below breaks down average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The cheapest rate after discounts 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
- Selecting low deductibles for comp and collision coverage costs an extra $454 annually
- Higher-risk drivers with serious driving violations could pay around $3,310
- Policy cost to insure a 16-year-old driver can cost $5,510 each year
Car 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.
Choosing higher comprehensive and collision insurance deductibles can save as much as $690 annually, 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 extra every 12 months. View Rates by Deductible or Liability Limit
More mature drivers with no driving violations and higher deductibles may pay as low as $1,400 annually on average, or $117 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers will be charged 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 from 45% to 132% more than the average policy. View High Risk Driver Rates
Your home state plays a big part in determining prices for Hyundai Ioniq 5 insurance prices. A good driver about age 40 could pay as low as $1,170 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,170 on average in Louisiana, 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 Shop for the Cheapest Hyundai Ioniq 5 Insurance
Finding cheaper rates on insurance for a Hyundai Ioniq 5 takes avoiding accidents and claims, maintaining a good credit score, paying for small claims out-of-pocket, and attention to physical damage deductibles. Make time to compare rates every other policy renewal by getting rate quotes from direct car insurance companies, and also from your local car insurance providers.
The points below are a recap of the ideas that were touched on in this article.
- Drivers under the age of 20 pay the highest auto insurance rates, with premiums being up to $459 each month if the policy includes full coverage
- Drivers considered higher risk that have major violations or accidents could be charged and average of $1,790 more per year to insure a Hyundai Ioniq 5
- Increasing comprehensive and collision deductibles could save as much as $675 each year
- You may be able to save around $190 per year just by quoting online in advance
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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