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 for full coverage. Comprehensive insurance costs approximately $356 each year, collision costs $668, and liability insurance costs around $364. Liability-only insurance costs as low as $416 a year, with high-risk driver insurance costing $3,310 or more. Teen drivers cost the most to insure at $5,510 a year or more.
Average premium for full coverage: $1,524
Policy rates by type of insurance:
Estimates include $500 deductible amounts, 30/60 split liability limits, and includes additional medical/uninsured motorist coverage. Prices are averaged for all states and Ioniq 5 models.
Price Range Variability
For an average driver, Hyundai Ioniq 5 insurance rates go from the cheapest price of $416 for just the minimum liability insurance to a high rate of $3,310 for a high-risk insurance policy.
Urban vs. Rural Price Range
Where you live has a significant impact on car insurance rates. Rural locations are shown to have more infrequent accident claims than larger metro areas.
The graphic below illustrates the effect of geographic area on auto insurance prices.
The examples above show why all drivers should compare prices using their specific location and their own driving history, rather than relying on 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 Rate Analysis
The chart below shows estimated Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $857
- Using higher $1,000 deductibles will save $232 a year
- The average price for a good driver age 40 who chooses $500 deductibles is $1,524
- Choosing low deductibles for physical damage coverage costs an extra $454 a year
- Drivers with multiple violations and an at-fault accident could pay around $3,310 or more
- Policy cost to insure a teen driver can cost $5,510 or more
Auto insurance rates for a Hyundai Ioniq 5 also range considerably based on liability limits and deductibles, your driver profile, and the model of your Ioniq 5.
Choosing high deductibles could cut rates by as much as $690 each year, whereas increasing liability limits will push rates upward. Going from a 50/100 liability limit to a 250/500 limit will raise rates by up to $327 extra every year. View Rates by Deductible or Liability Limit
More mature drivers with a good driving record and higher deductibles could pay as little as $1,400 a year, or $117 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers will have to pay 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 could be paying anywhere from $1,800 to $2,500 in extra premium every year, depending on your age. Insurance for high-risk drivers can be anywhere from 45% to 132% more than average. View High Risk Driver Rates
Your home state has a huge impact on Hyundai Ioniq 5 insurance rates. A driver around age 40 might see rates as low as $1,010 a year in states like Iowa, Maine, and Idaho, or as much as $2,170 on average in New York, Louisiana, 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% |
Because rates have so much variability, the only way to know who has the cheapest car insurance rates is to do a rate comparison from as many companies as possible. Each insurance company uses a different rate calculation, and quoted rates will be varied.
| 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 Low Cost Hyundai Ioniq 5 Insurance
Finding cheaper rates on Hyundai Ioniq 5 insurance requires having a good driving record, having a good credit score, avoid buying unnecessary coverage, and not having any coverage lapses. Take the time to compare rates at least every other year by requesting quotes from direct carriers, and also from your local independent and exclusive agents.
The next list is a review of the car insurance concepts covered in the above illustrations.
- High-risk drivers who have several accidents or serious violations may pay on average $1,790 more per year to buy Hyundai Ioniq 5 insurance
- Drivers can save around $190 per year simply by quoting online in advance
- Increasing comprehensive and collision deductibles could save as much as $675 each year
- Drivers who purchase increased levels of liability coverage will pay about $400 each year to increase from a 30/60 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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