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 auto insurance rates for a Hyundai Ioniq 5 are $1,556 annually including full coverage. Comprehensive costs on average $368, collision costs $698, and liability costs $354. A liability-only policy costs as little as $406 a year, with high-risk insurance costing around $3,374. Teens cost the most to insure at $5,590 a year or more.
Average premium for full coverage: $1,556
Policy rates by type of insurance:
Rates are based on $500 policy deductibles, 30/60 bodily injury liability limits, and includes uninsured/under-insured motorist coverage. Prices are averaged for all 50 U.S. states and for different Ioniq 5 trim levels.
Price Range Variability
For the normal driver, Hyundai Ioniq 5 insurance rates go from as cheap as $406 for your basic liability-only policy to a much higher rate of $3,374 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Your location can have significant affects on car insurance rates. Rural areas are shown to have fewer comprehensive and collision claims than cities with more traffic congestion.
The price range example below illustrates how geographic area affects car insurance rates.
The examples above highlight why anyone shopping for car insurance should compare rates based on a specific location and their own personal driving habits, instead of using averaged prices.
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 Information
The chart below breaks down estimated Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $870
- Drivers who choose higher $1,000 deductibles will pay around $242 every year
- The estimated rate for a good driver age 40 with $500 deductibles is $1,556
- Selecting more expensive low deductibles for comprehensive and collision insurance will cost $2,028
- Higher-risk drivers with serious driving violations could pay upwards of $3,374 or more
- Policy cost with full coverage for a teen driver with full coverage may cost $5,590 a year
Car insurance rates for a Hyundai Ioniq 5 also range considerably based on the model year and trim level, your driving characteristics, and policy deductibles and limits.
An older driver with no driving violations and high physical damage deductibles may pay as little as $1,400 per year on average, or $117 per month, for full coverage. Rates are much higher for teenagers, where even without any violations or accidents they will be charged upwards of $5,500 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you are likely paying at a minimum $1,800 to $2,500 extra every year, depending on your age. High-risk driver insurance can cost as much as 45% to 129% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles could save up to $720 every year, while increasing your policy's liability limits will cost you more. Changing from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $318 extra every 12 months. View Rates by Deductible or Liability Limit
Your home state makes a big difference in Hyundai Ioniq 5 insurance prices. A 40-year-old driver could pay as low as $1,190 a year in states like Missouri, New Hampshire, and Vermont, or have to pay at least $2,220 on average in Michigan, New York, and Louisiana.
| 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% |
Because rates have so much variability, the best way to figure out exactly what you will pay is to compare rates and see which company has the best rate. Every company calculates rates differently, so rate quotes will be varied 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 Cheap Hyundai Ioniq 5 Insurance
Finding cheaper rates on car insurance not only requires being safe and accident-free, but also having a good credit score, paying for small claims out-of-pocket, and maximizing policy discounts. Invest the time to compare rates at every other renewal by obtaining price quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.
Below you'll find a quick review of the concepts that were presented in the illustrations above.
- Higher risk drivers with a DUI or reckless driving violation pay on average $1,820 more each year than a low-risk driver
- Youthful drivers are expensive to insure, with premiums being up to $466 each month if comprehensive and collision insurance is included
- You may be able to save as much as $200 per year simply by shopping early and online
- Increasing comprehensive and collision deductibles could save up to $725 each year
- You may be able to save as much as $200 per year simply by shopping early and online
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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