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 insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months for full coverage. Comprehensive insurance costs around $356 a year, collision costs $668, and liability is estimated at $364. A policy with just liability insurance costs approximately $416 a year, with coverage for high-risk drivers costing $3,310 or more. Teen drivers pay the highest rates at $5,510 a year or more.
Average premium for full coverage: $1,524
Price estimates for individual coverage:
These estimates include $500 policy deductibles, liability coverage up to 30/60, and includes medical/PIP and uninsured motorist coverage. Estimates are averaged for all states and Ioniq 5 trim levels.
Price Range from Low to High
For a driver around age 40, Hyundai Ioniq 5 insurance prices go from the cheapest price of $416 for liability-only coverage to a high of $3,310 for a high-risk driver policy.
Geographic Price Range
Living in a larger city can have significant affects on auto insurance rates. Areas with sparse population have more infrequent accident claims than larger metro areas.
The diagram below illustrates the difference between rural and urban areas on auto insurance rates.
The ranges above show why it is important to get quotes for a specific zip code and their own driving history, instead of using price 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 Charts and Tables
The chart below shows estimated Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $857
- Choosing higher $1,000 deductibles can save about $1,292 a year
- The average price for the average middle-age driver using $500 deductibles is $1,524
- Choosing low $100 deductibles for comp and collision coverage costs an extra $454 every year
- Unlucky drivers with multiple violations and an at-fault accident could pay at least $3,310 or more
- The price to insure a teen driver can be $5,510 each year
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on deductibles and policy limits, your driver profile, and the trim level and model year.
Choosing high deductibles can save as much as $690 every year, while buying higher liability limits will increase prices. Going from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $327 more per year. View Rates by Deductible or Liability Limit
Older drivers with a clean driving record and higher deductibles may pay as little as $1,400 annually on average for full coverage. Prices are highest for teenage drivers, since even excellent drivers can expect to pay as much as $5,500 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you could be paying at least $1,800 to $2,500 extra each year, depending on your age. A high-risk auto insurance policy ranges as much as 45% to 132% more than average. View High Risk Driver Rates
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 $1,010 a year in states like Idaho, Maine, and Iowa, or as much as $2,170 on average in Michigan, Louisiana, 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 only way to know your exact price is to get quotes and see which company has the best price. Each auto insurer uses a different rate calculation, so the 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 Shop for Cheap Hyundai Ioniq 5 Insurance
Getting lower rates on car insurance takes being a good driver, having good credit, eliminating unnecessary coverage, and insuring your home and auto with the same company. Set aside time to compare rates every time your policy renews by getting rate quotes from direct carriers like Progressive, GEICO, and Esurance, and also from local exclusive and independent agents.
The following list is a brief summary of the information covered above.
- Drivers can save up to $190 per year simply by quoting early and online
- Drivers age 16 to 20 pay higher prices, with premiums as much as $459 a month if they have full coverage
- Increasing physical damage deductibles could save as much as $675 each year
- Higher risk drivers that tend to have accidents or serious violations may pay on average $1,790 more every year than a safer driver
- Policyholders who may need an increased level of liability coverage will pay about $400 each year to raise limits from a low limit to a 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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