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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Estimated insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months for full coverage insurance. Comprehensive insurance costs approximately $356, collision insurance costs $668, and liability coverage costs around $364. Liability-only insurance costs as low as $416 a year, and high-risk driver insurance costs $3,310 or more. 16-year-old 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 policy deductibles, split liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all 50 states and for all Ioniq 5 models.
Insurance Price Range by Risk and Coverage
For the normal driver, insurance rates for a Hyundai Ioniq 5 range from the cheapest price of $416 for minimum levels of liability insurance to the much higher price of $3,310 for coverage for higher-risk drivers.
Insurance Price Range by Location
Where you live has a large influence on the price of auto insurance. Rural locations are statistically proven to have more infrequent physical damage claims than congested cities. The example below illustrates how geographic area affects auto insurance prices.
These rate differences illustrate why everyone should compare prices using their specific location and their own driving history, rather than using rate 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 Details
The chart below illustrates average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $857
- Using higher $1,000 deductibles will save $232 each year
- The average price for a 40-year-old good driver who chooses $500 deductibles is $1,524
- Buying pricier low deductibles for physical damage coverage costs an extra $454 each year
- Higher-risk drivers with multiple tickets or accidents could pay around $3,310
- An auto insurance policy to insure a teenage driver for full coverage can cost $5,510 or more
Insurance prices for a Hyundai Ioniq 5 also have a wide range based on physical damage deductibles and liability limits, your risk profile, and the model of your Ioniq 5.
Opting for high physical damage deductibles could cut prices by as much as $690 a year, whereas buying more liability protection will push prices upward. Switching from a 50/100 liability limit to a 250/500 limit will cost up to $327 more each year. View Rates by Deductible or Liability Limit
A more mature driver with no violations or accidents and higher deductibles may only pay around $1,400 a year, or $117 per month, for full coverage. Prices are highest for drivers in their teens, since even excellent drivers should be prepared to pay in the ballpark of $5,500 a year. View Rates by Age
If you have a few violations or you were responsible for an accident, you are probably paying anywhere from $1,800 to $2,500 additional annually, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can be around 45% to 132% more than the average rate. View High Risk Driver Rates
Where you choose to live has a huge impact on Hyundai Ioniq 5 insurance rates. A driver around age 40 might see prices as low as $990 a year in states like North Carolina, Wisconsin, and Vermont, or 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% |
| 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 Affordable Hyundai Ioniq 5 Insurance
Finding better rates on auto insurance requires being safe and accident-free, having above-average credit, paying for small claims out-of-pocket, and consideration of higher deductibles. Invest the time to compare rates at least once a year by getting rate quotes from direct insurance companies, and also from local insurance agencies.
Below you'll find a brief review of the primary concepts that were presented in the illustrations above.
- It is possible to save around $190 per year just by quoting online well ahead of the renewal date
- Drivers with DUI or reckless driving convictions may have to pay on average $1,790 more per year than a low-risk driver
- Increasing policy deductibles could save as much as $675 each year
- Youthful drivers are the costliest to insure, with premiums being up to $459 per month if full coverage is included
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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