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 for full coverage insurance. Comprehensive costs approximately $356, collision insurance costs $668, and liability insurance costs $364. Buying just liability costs as little as $416 a year, and insurance for high-risk drivers costs around $3,310. Teens pay the highest rates at up to $5,510 a year.
Average premium for full coverage: $1,524
Price estimates by individual coverage:
Rate estimates include $500 policy deductibles, minimum liability limits, and includes medical and UM/UIM coverage. Estimates are averaged for all 50 states and for all Ioniq 5 models.
Price Range from Low to High
For the average 40-year-old driver, Hyundai Ioniq 5 insurance prices range from the low end price of $416 for just liability insurance to the much higher price of $3,310 for high-risk insurance.
Geographic Price Range
Your location has a significant impact on the price of auto insurance. Rural locations have lower incidents of physical damage claims than cities with more traffic congestion. The example below illustrates the difference location can make on auto insurance prices.
The ranges above illustrate why everyone should compare rates using their specific location, rather than relying 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.
More Rate Details
The chart below illustrates average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The cheapest rate after discounts is $857
- Drivers who choose higher $1,000 deductibles will pay $232 each year
- The estimated price for the average middle-age driver who chooses $500 deductibles is $1,524
- Selecting pricier low deductibles for comprehensive and collision insurance bumps up the cost to $1,978
- High risk drivers with serious driving violations could pay around $3,310
- The price that insures a teen driver for full coverage can cost $5,510 a year
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on the model of your Ioniq 5, your age and driving record, and physical damage deductibles and liability limits.
If you have some driving violations or you caused an accident, you are probably paying anywhere from $1,800 to $2,500 additional each year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can cost anywhere from 45% to 132% more than the average policy. View High Risk Driver Rates
A more mature driver with no violations or accidents and higher comprehensive and collision deductibles could pay as little as $1,400 per year on average for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records should be prepared to pay in the ballpark of $5,500 a year. View Rates by Age
The state you live in makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay as low as $990 a year in states like North Carolina, Wisconsin, and Vermont, or have to pay at least $2,060 on average in Florida, 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% |
Choosing higher comprehensive and collision insurance deductibles could save up to $690 each year, whereas buying more liability protection will push prices upward. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $327 more each year. View Rates by Deductible or Liability Limit
| 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 the Best Hyundai Ioniq 5 Insurance
Getting lower rates on Hyundai Ioniq 5 insurance not only requires avoiding accidents and claims, but also having a good credit score, not filing small claims, and consideration of higher deductibles. Compare rates every couple of years by getting rate quotes from direct insurance companies, and also from your local car insurance providers.
The points below are a brief recap of the material that was touched on in this article.
- Drivers who purchase increased liability limits will pay approximately $400 annually to go from a low limit to the 250/500 level
- Drivers under the age of 20 are the costliest to insure, as much as $459 a month if comprehensive and collision insurance is included
- High-risk drivers who tend to receive serious violations could be charged and average of $1,790 more per year to insure a Hyundai Ioniq 5
- Increasing physical damage deductibles can save approximately $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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