Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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U.S. average insurance rates for a Hyundai Ioniq 5 are $1,524 a year including full coverage. Comprehensive costs on average $356, collision costs $668, and liability is estimated at $364. Liability-only coverage costs approximately $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 by individual coverage:
Price estimates include $500 policy deductibles, liability coverage up to 30/60, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and for all Ioniq 5 models.
Price Range from Low to High
For the average driver, Hyundai Ioniq 5 insurance prices go from the low end price of $416 for liability-only coverage to the much higher price of $3,310 for a high-risk driver policy.
Geographic Price Range
Living in a larger city can make a big difference on car insurance rates. Rural areas have lower incidents of comprehensive and collision claims than cities with more traffic congestion.
The example below illustrates how location impacts car insurance rates.
The ranges above highlight why everyone should get quotes based on a specific location, 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 Charts and Tables
The chart below breaks down estimated Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $857
- Choosing higher $1,000 deductibles can save around $232 every year
- The estimated price for the average middle-age driver with $500 deductibles is $1,524
- Selecting pricier low deductibles for comp and collision coverage bumps up the cost to $1,978
- Higher-risk drivers with serious driving violations could pay upwards of $3,310 or more
- The price that insures a 16-year-old driver for full coverage may cost $5,510 each year
Auto insurance prices for a Hyundai Ioniq 5 are also quite variable based on the model of your Ioniq 5, your driving record and age, and policy deductibles and limits.
If you have some driving violations or you caused an accident, you are likely paying at a minimum $1,800 to $2,500 in extra premium each year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers ranges from 45% to 132% more than the average policy. View High Risk Driver Rates
A more mature driver with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,400 annually on average for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records will have to pay upwards of $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 prices. A good driver about age 40 could pay as low as $1,170 a year in states like Missouri, New Hampshire, and Vermont, or have to pay at least $2,170 on average in Michigan, New York, and Louisiana.
| 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% |
Choosing higher comprehensive and collision insurance deductibles can save as much as $690 annually, whereas buying more liability protection will cost you more. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $327 extra every year. View Rates by Deductible or Liability Limit
Since prices can be so different, the best way to figure out exactly what you will pay is to regularly compare prices from multiple companies. Each auto insurer calculates prices differently, and quoted prices may be quite different.
| 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 Find Cheaper Hyundai Ioniq 5 Insurance
Getting lower rates on insurance for a Hyundai Ioniq 5 takes being safe and accident-free, maintaining a good credit score, being claim-free, and taking advantage of discounts. Compare rates every time your policy renews by obtaining price quotes from direct car insurance companies, and also from insurance agencies where you live.
Below you'll find a condensed summary of the information touched on above.
- You may be able to save as much as $190 per year simply by quoting online well ahead of the renewal date
- Youthful drivers are charged the highest prices, possibly costing $459 a month if the policy includes full coverage
- Increasing physical damage deductibles can save approximately $675 each year
- Drivers considered higher risk with multiple at-fault accidents could be forced to pay on average $1,790 more each year than a low-risk driver
- Insureds who require more liability protection will pay approximately $400 per year to raise limits from a low limit to the 250/500 level
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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