Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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U.S. average insurance rates for a Hyundai Ioniq 5 are $1,524 a year for full coverage. Comprehensive costs around $356 each year, collision insurance costs $668, and liability is $364. Liability-only coverage costs around $416 a year, and high-risk coverage costs around $3,310. 16-year-old drivers pay the highest rates at up to $5,510 a year.
Average premium for full coverage: $1,524
Price estimates for individual coverage:
Prices are based on $500 policy deductibles, liability coverage up to 30/60, and includes both medical and UM/UIM coverage. Estimates are averaged for all states and Ioniq 5 models.
Price Range from Low to High
Using a middle-aged driver as an example, Hyundai Ioniq 5 insurance prices range from the low end price of $416 for basic liability insurance to a high rate of $3,310 for a high-risk driver policy.
Geographic Price Range
Choosing to live in a large city can make a big difference on auto insurance rates. Areas with sparse population have lower incidents of accident claims than congested cities. The graphic below illustrates how where you live affects auto insurance rates.
The ranges above show why all drivers should compare rates quotes for a specific zip code, instead of making a decision based 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.
Rate Comparisons
The chart below shows average Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $857
- Raising to $1,000 deductibles will save about $232 a year
- The estimated price for the average middle-age driver using $500 deductibles is $1,524
- Buying low deductibles bumps up the cost to $1,978
- Drivers with multiple tickets or accidents could pay at least $3,310
- The price that insures a 16-year-old driver can be $5,510
Auto insurance prices for a Hyundai Ioniq 5 are also quite variable based on the trim level and model year, how you drive, and deductibles and policy limits.
If you have some driving violations or you caused an accident, you could be paying at least $1,800 to $2,500 in extra premium each year, depending on your age. Insurance for high-risk drivers is expensive and can cost from 45% to 132% more than the average rate. View High Risk Driver Rates
More mature drivers with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,400 every 12 months on average for full coverage. Prices are highest for teenage drivers, since even teens with perfect driving records will have to pay as much as $5,500 a year. View Rates by Age
The state you live in also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find prices as low as $1,010 a year in states like Idaho, Maine, and Iowa, or at least $2,170 on average in Michigan, Louisiana, 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 can reduce prices by up to $690 annually, whereas increasing liability limits will increase prices. Going from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $327 extra every year. View Rates by Deductible or Liability Limit
| 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 Affordable Hyundai Ioniq 5 Insurance
Getting lower rates on insurance for a Hyundai Ioniq 5 consists of being safe and accident-free, maintaining a good credit score, eliminating unnecessary coverage, and possibly raising deductibles. Comparison shop every time your policy renews by getting quotes from direct carriers, and also from several local insurance agents.
Below you'll find a brief review of the information touched on in the above illustrations.
- Drivers can save up to $190 per year just by quoting online in advance
- Youthful drivers are expensive to insure, with premiums as much as $459 a month if the policy includes full coverage
- Increasing physical damage deductibles can save approximately $675 each year
- Drivers considered higher risk with DUI or reckless driving convictions pay on average $1,790 more every year than a low-risk driver
- Insureds who may need more liability protection will pay around $400 each year to raise from a low limit to the 250/500 level
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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