Hyundai Ioniq 5 Insurance Rates
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Dani Best
Licensed Insurance Producer
Dani Best has been a licensed insurance producer for nearly 10 years. Dani began her insurance career in a sales role with State Farm in 2014. During her time in sales, she graduated with her Bachelors in Psychology from Capella University and is currently earning her Masters in Marriage and Family Therapy. Since 2014, Dani has held and maintains licenses in Life, Disability, Property, and Casualt...
Licensed Insurance Producer
UPDATED: Mar 28, 2024
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Estimated insurance rates for a Hyundai Ioniq 5 are $1,556 a year for full coverage insurance. Comprehensive insurance costs an estimated $368, collision costs $698, and liability insurance costs $354. A policy with only liability insurance costs as little as $406 a year, with a high-risk policy costing $3,374 or more. Teenage drivers pay the most at $5,590 a year or more.
Average premium for full coverage: $1,556
Premium estimates broken down by type of coverage:
Price estimates include $500 comprehensive and collision deductibles, minimum liability limits, and includes additional medical/uninsured motorist coverage. Rates include averaging for all 50 states and for all Ioniq 5 models.
Insurance Price Range by Risk and Coverage
For the average driver, insurance rates for a Hyundai Ioniq 5 go from the low end price of $406 for just the minimum liability insurance to the much higher price of $3,374 for high-risk insurance.
Insurance Price Range by Location
Your location has a significant impact on the price of insurance. More rural locations are statistically proven to have lower incidents of physical damage claims than densely populated cities.
The example below illustrates how location impacts insurance prices.
These rate differences illustrate why everyone should compare rates for a targeted area, rather than relying on 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 Analysis
The chart below illustrates estimated Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The best discount rate is $870
- Drivers who choose higher $1,000 deductibles will pay approximately $242 each year
- The estimated price for a 40-year-old good driver who has $500 deductibles is $1,556
- Using pricier low deductibles for comprehensive and collision insurance will cost an additional $472 a year
- High risk drivers who are prone to accidents and violations could pay up to $3,374 or more
- An auto insurance policy that insures a teen driver for full coverage can cost as much as $5,590 a year
Car insurance prices for a Hyundai Ioniq 5 also have a wide range based on the model of your Ioniq 5, your age and driving record, and liability limits and deductibles.
If you have a few violations or you caused an accident, you are probably paying $1,800 to $2,500 extra annually, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can cost anywhere from 45% to 129% more than a normal policy. 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 per year on average, or $117 per month, for full coverage. Prices are much higher for drivers in their teens, since even teens with perfect driving records will be charged at least $5,500 a year. View Rates by Age
Where you choose to live makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay as low as $1,020 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,100 on average in Florida, 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 could save up to $720 each year, whereas buying more liability protection will increase premiums. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $318 extra every 12 months. View Rates by Deductible or Liability Limit
With such a large range in prices, the only way to figure out which insurance company is cheapest is to regularly compare prices from as many companies as possible. Every company uses a different method to calculate prices, so rate quotes will be substantially 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 Cheaper Hyundai Ioniq 5 Insurance
Finding better rates on Hyundai Ioniq 5 insurance not only requires avoiding accidents and violations, but also having a positive credit history, paying for small claims out-of-pocket, and not having any coverage lapses. Compare prices every couple of years by getting rate quotes from direct insurance companies, and also from local insurance agencies.
The list below is a condensed summary of the material that was touched on above.
- Drivers who want higher liability limits will pay an extra $390 annually to go from 30/60 bodily injury limits to the 250/500 level
- Teenagers have the highest car insurance prices, with premiums being up to $466 per month if full coverage is purchased
- High-risk drivers with multiple at-fault accidents may have to pay on average $1,820 more annually for car insurance
- Increasing policy deductibles can save approximately $725 each year
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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