Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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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 for full coverage. Comprehensive insurance costs on average $356, 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. Teenage drivers pay the most at up to $5,510 a year.
Average premium for full coverage: $1,524
Premium estimates by type of coverage:
Prices are based on $500 physical damage insurance deductibles, minimum liability limits, and includes uninsured/under-insured motorist coverage. Rates include averaging for all states and for all Ioniq 5 models.
Insurance Price Range by Risk and Coverage
Using a 40-year-old driver as an example, insurance rates for a Hyundai Ioniq 5 range from as cheap as $416 for your basic liability-only policy to the much higher price of $3,310 for high-risk insurance.
Insurance Price Range by Location
Living in a larger city can make a big difference on car insurance rates. Rural areas are statistically proven to have fewer accident claims than densely populated cities. The example below illustrates how rural and urban location affects car insurance rates.
These rate differences show why everyone should get quotes based on a specific location and their own personal driving habits, instead of making a decision based on average rates.
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.
More Rate Information
The chart below shows average Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.
- The best discount rate is $857
- Choosing higher $1,000 deductibles can save around $232 a year
- The estimated rate for a 40-year-old good driver with $500 deductibles is $1,524
- Using pricier low deductibles for comp and collision coverage costs an additional $454 annually
- Higher-risk drivers who are prone to accidents and violations could pay upwards of $3,310
- An auto insurance policy with full coverage for a 16-year-old driver for full coverage may cost $5,510 each year
Auto insurance prices for a Hyundai Ioniq 5 also have a wide range based on the model of your Ioniq 5, your driver profile, and policy deductibles and limits.
A more mature driver with a good driving record and high physical damage deductibles may pay as low as $1,400 annually on average, or $117 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they will have 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 could be paying at a minimum $1,800 to $2,500 in extra premium annually, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers ranges from 45% to 132% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles can save as much as $690 annually, whereas buying more liability protection will cost you more. Going from a 50/100 bodily injury limit to a 250/500 limit will cost up to $327 extra every 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 prices. A good driver about age 40 could pay as low as $1,010 a year in states like Idaho, Maine, and Iowa, or be forced to pay 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% |
| 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
Finding better rates on insurance for a Hyundai Ioniq 5 takes being a low-risk driver, having above-average credit, not filing small claims, and deciding if full coverage is necessary. Set aside time to shop around every couple of years by obtaining price quotes from direct carriers, and also from local insurance agents.
The items below are a brief review of the material that was raised in the charts and tables above.
- Insureds who require more liability coverage will pay an extra $400 each year to raise limits from 30/60 bodily injury limits to higher 250/500 limits
- Teen drivers are charged the highest prices, as much as $459 per month if full coverage is included
- Drivers considered higher risk with DUI or reckless driving convictions may be required to pay an average of $1,790 more each year to insure their Ioniq 5
- Increasing policy 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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