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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U.S. average auto insurance rates for a Hyundai Ioniq 5 are $1,556 annually for full coverage. Comprehensive costs approximately $368 each year, collision costs $698, and liability insurance is estimated at $354. Liability-only insurance costs approximately $406 a year, with high-risk driver insurance costing around $3,374. 16-year-old drivers pay the highest rates at $5,590 a year or more.
Average premium for full coverage: $1,556
Price estimates by individual coverage:
Rate estimates include $500 policy deductibles, split liability limits of 30/60, and includes medical and UM/UIM coverage. Estimates are averaged for all states and Ioniq 5 models.
Price Range from Low to High
For the normal driver, Hyundai Ioniq 5 insurance prices go from as cheap as $406 for just liability insurance to a high rate of $3,374 for coverage for higher-risk drivers.
Geographic Price Range
Living in a larger city has a significant impact on car insurance rates. Rural locations have fewer accident claims than congested cities.
The graphic below illustrates how geographic area affects auto insurance prices.
The ranges above show why all drivers should get quotes using their specific location and their own personal driving habits, rather than relying on 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.
More Rate Details
The chart below shows estimated Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $870
- Choosing higher $1,000 deductibles can save $242 a year
- The estimated rate for the average middle-age driver who chooses $500 deductibles is $1,556
- Buying low deductibles for comp and collision coverage will cost $2,028
- High-risk insureds with multiple tickets or accidents could pay around $3,374 or more
- The price with full coverage for a teen driver can cost $5,590 each year
Car insurance prices for a Hyundai Ioniq 5 are also quite variable based on the trim level and model year, your driver profile, and physical damage deductibles and liability limits.
More mature drivers with no driving violations and high physical damage deductibles could pay as little as $1,400 annually on average for full coverage. Prices are highest for teenage drivers, where even without any violations or accidents they will be charged in the ballpark of $5,500 a year. View Rates by Age
If you have some driving violations or you caused a few accidents, you could be paying anywhere from $1,800 to $2,500 extra each year, depending on your age. Insurance for high-risk drivers ranges anywhere from 45% to 129% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles can save as much as $720 each year, whereas increasing liability limits will push prices upward. Going from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $318 extra every 12 months. View Rates by Deductible or Liability Limit
The state you live in plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $1,030 a year in states like Iowa, Maine, and Idaho, or at least $2,220 on average in New York, Louisiana, and Michigan.
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% |
Since prices can be so different, the only way to know who has the cheapest car insurance prices is to do a rate comparison from as many companies as possible. Each auto insurer utilizes a different rate formula, so rate quotes may be quite different between companies.
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 Buy the Best Hyundai Ioniq 5 Insurance
Getting lower rates on Hyundai Ioniq 5 insurance takes being safe and accident-free, having a good credit score, eliminating unnecessary coverage, and avoiding coverage lapses. Invest the time to compare rates at least once a year by getting rate quotes from direct carriers like GEICO, Progressive, and Esurance, and also from several local insurance agents.
Below you'll find a brief recap of the primary concepts that were presented in the illustrations above.
- Drivers can save around $200 per year simply by quoting online in advance
- High-risk drivers who tend to receive serious violations pay on average $1,820 more per year than a low-risk driver
- Increasing physical damage deductibles could save up to $725 each year
- Youthful drivers pay the highest auto insurance prices, with premiums as much as $466 a month if comprehensive and collision insurance is included
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.
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