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 rates for a Hyundai Ioniq 5 are $1,524 a year with full coverage. Comprehensive insurance costs around $356, collision costs $668, and liability insurance costs around $364. A liability-only policy costs as low as $416 a year, with high-risk insurance costing $3,310 or more. 16-year-old drivers cost the most to insure at $5,510 a year or more.
Average premium for full coverage: $1,524
Policy rates for type of insurance:
Price estimates include $500 policy deductibles, 30/60 bodily injury liability limits, 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 an average driver, Hyundai Ioniq 5 insurance rates go from the low end price of $416 for just liability insurance to the much higher price of $3,310 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Where you live has a significant impact on insurance rates. Areas with sparse population are shown to have lower incidents of collision claims than congested cities.
The example below illustrates the effect of geographic area on auto insurance rates.
The examples above demonstrate why everyone should compare prices for a specific zip code, 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 details estimated Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $857
- Using higher $1,000 deductibles will save about $232 annually
- The estimated price for a good driver age 40 using $500 deductibles is $1,524
- Buying pricier low deductibles for physical damage coverage will cost an additional $454 a year
- Drivers with multiple tickets or accidents could pay at least $3,310 or more
- Policy cost that insures a teen driver for full coverage can be $5,510 or more
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 deductibles and policy limits.
If you have a few points on your driving record or you caused an accident, you may be forking out at least $1,800 to $2,500 extra every year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can be anywhere from 45% to 132% more than the average rate. View High Risk Driver Rates
A more mature driver with no driving violations and higher comprehensive and collision deductibles could pay as little as $1,400 a year, or $117 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records will be charged as much as $5,500 a year. View Rates by Age
Your home state has a huge impact on Hyundai Ioniq 5 insurance rates. A driver around age 40 might see rates as low as $1,100 a year in states like New Hampshire, Ohio, and Utah, or at least $2,060 on average in Florida, Michigan, and New York.
| 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% |
Opting for high physical damage deductibles could cut rates by as much as $690 each year, whereas buying more liability protection will increase rates. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $327 extra every 12 months. View Rates by Deductible or Liability Limit
Because rates have so much variability, the best way to find out your exact price is to regularly compare rates from as many companies as possible. Each insurance company utilizes a different rate formula, so rate quotes 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 Find Cheaper Hyundai Ioniq 5 Insurance
Finding cheaper rates on Hyundai Ioniq 5 insurance requires avoiding accidents and claims, having a positive credit history, not filing small claims, and qualifying for all possible discounts. Comparison shop at every other renewal by getting rate quotes from direct companies, and also from your local independent and exclusive agents.
The points below are a condensed summary of the concepts that were covered in the above illustrations.
- High-risk drivers with multiple at-fault accidents may pay on average $1,790 more every year to insure a Hyundai Ioniq 5
- Drivers under the age of 20 are the costliest to insure, as much as $459 each month if full coverage is purchased
- You may be able to save up to $190 per year simply by quoting online well ahead of the renewal date
- Increasing comprehensive and collision deductibles can save approximately $675 each year
- You may be able to save up to $190 per year simply by quoting online well ahead of the renewal date
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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