Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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Average insurance rates for a Hyundai Ioniq 5 are $1,556 a year including full coverage. Comprehensive costs approximately $368, collision costs $698, and liability is $354. A liability-only policy costs around $406 a year, with high-risk insurance costing around $3,374. Teenage drivers receive the highest rates at $5,590 a year or more.
Average premium for full coverage: $1,556
Rate estimates by individual coverage type:
Prices include $500 policy deductibles, liability coverage up to 30/60, and includes both medical and uninsured motorist insurance. Rates are averaged for all 50 U.S. states and for different Ioniq 5 trim levels.
Price Range by Coverage and Risk
For an average driver, prices range go from the low end price of $406 for minimum levels of liability insurance to a much higher rate of $3,374 for a high-risk driver policy.
Price Range by Location
Choosing to live in a large city can have significant affects on car insurance prices. Rural locations tend to have lower incidents of comprehensive and collision claims than densely populated cities.
The price range example below illustrates the effect of geographic area on auto insurance prices.
These examples highlight why anyone shopping for car insurance should compare rates quotes using their specific location, instead of using average rates.
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 breaks down estimated Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The best discount rate is $870
- Raising to $1,000 deductibles will save $242 every year
- The estimated price for a 40-year-old driver who chooses $500 deductibles is $1,556
- Using more expensive low deductibles bumps up the cost to $2,028
- At-risk drivers who are prone to accidents and violations could pay around $3,374 or more
- The cost that insures a teen driver with full coverage can cost $5,590
Insurance rates for a Hyundai Ioniq 5 can also vary considerably based on the model year and trim level, your driving record and age, and physical damage deductibles and liability limits.
If you like to drive fast or you caused an accident, you are likely paying anywhere from $1,800 to $2,500 extra per year, depending on your age. High-risk driver insurance is expensive and can cost as much as 45% to 129% more than a normal policy. View High Risk Driver Rates
An older driver with a clean driving record and higher comprehensive and collision deductibles may pay as little as $1,400 every 12 months on average for full coverage. Rates are much higher for teen drivers, since even teens with perfect driving records can expect to pay in the ballpark of $5,500 a year. View Rates by Age
Where you live also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find rates as low as $1,190 a year in states like Vermont, New Hampshire, and Missouri, or be forced to pay as much as $2,220 on average in Louisiana, New York, 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% |
Using high physical damage deductibles can reduce rates by up to $720 every year, while increasing your policy's liability limits will push rates upward. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will cost as much as $318 more per year. View Rates by Deductible or Liability Limit
With so much variability in rates, the best way to figure out who has the best auto insurance rates is to compare rates and see which company has the best rate. Every auto insurance company uses a different method to calculate rates, so the rates can be significantly different.
| 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 Right Hyundai Ioniq 5 Insurance
Saving money on car insurance consists of avoiding accidents and claims, having above-average credit, not filing small claims, and maximizing policy discounts. Compare prices every time your policy renews by obtaining price quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from local auto insurance providers.
The points below are a quick rundown of the information covered in the above illustrations.
- You may be able to save around $200 per year simply by shopping early and online
- Drivers under the age of 20 are expensive to insure, as much as $466 per month if full coverage is included
- Increasing deductibles can save approximately $725 each year
- Higher risk drivers with reckless driving or DUI convictions will likely pay on average $1,820 more per year to insure a Hyundai Ioniq 5
- Policyholders who purchase increased liability limits will pay an extra $390 per year to raise from a minimum limit to the 250/500 level
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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