Hyundai Ioniq 5 Insurance Rates
Enter your zip code below to view companies that have cheap auto insurance rates.
Michelle Robbins
Licensed Insurance Agent
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...
Licensed Insurance Agent
UPDATED: Mar 28, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
The average insurance rates for a Hyundai Ioniq 5 are $1,556 a year with full coverage. Comprehensive costs an estimated $368, collision insurance costs $698, and liability is $354. A liability-only policy costs around $406 a year, and high-risk insurance costs around $3,374. Teens cost the most to insure at up to $5,590 a year.
Average premium for full coverage: $1,556
Policy rates broken down by type of insurance:
Rates are based on $500 physical damage deductibles, bodily injury liability limits of 30/60, and includes medical and UM/UIM coverage. Prices are averaged for all U.S. states and for all Ioniq 5 models.
Price Range Variability
For the normal driver, Hyundai Ioniq 5 insurance rates range from the low end price of $406 for just liability insurance to the much higher price of $3,374 for a driver who has had serious violations or accidents.
Urban vs. Rural Price Range
Choosing to live in a large city can have significant affects on car insurance rates. More rural locations are shown to have lower incidents of collision claims than cities with more traffic congestion. The example below illustrates how geographic area affects insurance prices.
The examples above demonstrate why everyone should compare rates quotes for a targeted area, instead of using 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 details average Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $870
- Raising to $1,000 deductibles will save approximately $242 annually
- The estimated price for a good driver age 40 who has $500 deductibles is $1,556
- Selecting pricier low deductibles bumps up the cost to $2,028
- At-risk drivers with serious driving violations could pay up to $3,374
- Policy cost that insures a teen driver for full coverage can cost as much as $5,590
Car insurance rates for a Hyundai Ioniq 5 also range considerably based on the model of your Ioniq 5, your age and driving habits, and liability limits and deductibles.
If you have a few points on your driving record or you caused an accident, you may be forking out $1,800 to $2,500 extra every year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers is expensive and can cost as much as 45% to 129% more than the average policy. View High Risk Driver Rates
A more mature driver with no driving violations and higher comprehensive and collision deductibles may pay as little as $1,400 every 12 months on average, or $117 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records will be charged at least $5,500 a year. View Rates by Age
Your home state also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find rates as low as $1,120 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,100 on average in New York, Michigan, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,406 | -$150 | -9.6% |
| Alaska | $1,192 | -$364 | -23.4% |
| Arizona | $1,290 | -$266 | -17.1% |
| Arkansas | $1,556 | -$0 | 0.0% |
| California | $1,774 | $218 | 14.0% |
| Colorado | $1,484 | -$72 | -4.6% |
| Connecticut | $1,598 | $42 | 2.7% |
| Delaware | $1,760 | $204 | 13.1% |
| Florida | $1,944 | $388 | 24.9% |
| Georgia | $1,436 | -$120 | -7.7% |
| Hawaii | $1,116 | -$440 | -28.3% |
| Idaho | $1,054 | -$502 | -32.3% |
| Illinois | $1,158 | -$398 | -25.6% |
| Indiana | $1,172 | -$384 | -24.7% |
| Iowa | $1,050 | -$506 | -32.5% |
| Kansas | $1,476 | -$80 | -5.1% |
| Kentucky | $2,122 | $566 | 36.4% |
| Louisiana | $2,302 | $746 | 47.9% |
| Maine | $960 | -$596 | -38.3% |
| Maryland | $1,284 | -$272 | -17.5% |
| Massachusetts | $1,240 | -$316 | -20.3% |
| Michigan | $2,700 | $1,144 | 73.5% |
| Minnesota | $1,302 | -$254 | -16.3% |
| Mississippi | $1,864 | $308 | 19.8% |
| Missouri | $1,382 | -$174 | -11.2% |
| Montana | $1,670 | $114 | 7.3% |
| Nebraska | $1,224 | -$332 | -21.3% |
| Nevada | $1,864 | $308 | 19.8% |
| New Hampshire | $1,120 | -$436 | -28.0% |
| New Jersey | $1,740 | $184 | 11.8% |
| New Mexico | $1,376 | -$180 | -11.6% |
| New York | $1,636 | $80 | 5.1% |
| North Carolina | $896 | -$660 | -42.4% |
| North Dakota | $1,274 | -$282 | -18.1% |
| Ohio | $1,072 | -$484 | -31.1% |
| Oklahoma | $1,594 | $38 | 2.4% |
| Oregon | $1,426 | -$130 | -8.4% |
| Pennsylvania | $1,484 | -$72 | -4.6% |
| Rhode Island | $2,074 | $518 | 33.3% |
| South Carolina | $1,410 | -$146 | -9.4% |
| South Dakota | $1,312 | -$244 | -15.7% |
| Tennessee | $1,360 | -$196 | -12.6% |
| Texas | $1,874 | $318 | 20.4% |
| Utah | $1,150 | -$406 | -26.1% |
| Vermont | $1,062 | -$494 | -31.7% |
| Virginia | $932 | -$624 | -40.1% |
| Washington | $1,200 | -$356 | -22.9% |
| West Virginia | $1,426 | -$130 | -8.4% |
| Wisconsin | $1,074 | -$482 | -31.0% |
| Wyoming | $1,384 | -$172 | -11.1% |
Choosing higher comprehensive and collision insurance deductibles can reduce rates by up to $720 every year, whereas buying more liability protection will increase premiums. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $318 extra every 12 months. View Rates by Deductible or Liability Limit
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Hyundai Ioniq 5 | $398 | $720 | $332 | $1,586 |
| 2023 Hyundai Ioniq 5 | $382 | $714 | $338 | $1,570 |
| 2022 Hyundai Ioniq 5 | $368 | $698 | $354 | $1,556 |
| 2021 Hyundai Ioniq 5 | $356 | $668 | $364 | $1,524 |
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 Cheap Hyundai Ioniq 5 Insurance
Finding cheaper rates on car insurance consists of being a safe and courteous driver, having a positive credit history, not filing small claims, and possibly higher deductibles. Compare rates every other policy renewal by getting rate quotes from direct companies, and also from insurance agencies where you live.
Below is a quick review of the ideas that were presented in the illustrations above.
- Teenage drivers have the highest car insurance rates, as much as $466 each month if full coverage is purchased
- Higher risk drivers with a DUI or reckless driving violation could be forced to pay on average $1,820 more annually for auto insurance
- Increasing comprehensive and collision deductibles can save approximately $725 each year
- You may be able to save approximately $200 per year just by quoting online well ahead of the renewal date
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $5,590 |
| 20 | $3,592 |
| 30 | $1,640 |
| 40 | $1,556 |
| 50 | $1,418 |
| 60 | $1,392 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,028 |
| $250 | $1,808 |
| $500 | $1,556 |
| $1,000 | $1,314 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,556 |
| 50/100 | $1,627 |
| 100/300 | $1,715 |
| 250/500 | $1,945 |
| 100 CSL | $1,662 |
| 300 CSL | $1,857 |
| 500 CSL | $1,999 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,034 |
| 20 | $5,718 |
| 30 | $3,468 |
| 40 | $3,374 |
| 50 | $3,216 |
| 60 | $3,188 |
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 | $85 |
| Multi-vehicle | $81 |
| Homeowner | $21 |
| 5-yr Accident Free | $123 |
| 5-yr Claim Free | $103 |
| Paid in Full/EFT | $78 |
| Advance Quote | $81 |
| Online Quote | $114 |
| Total Discounts | $686 |
Discounts are estimated and may not be available from every company or in every state.
Compare Rates and Save
Find companies with the cheapest rates in your area
Secured with SHA-256 Encryption
