Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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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 including full coverage. Comprehensive insurance costs around $356 a year, collision insurance costs $668, and liability insurance costs $364. Liability-only insurance costs as little as $416 a year, and high-risk driver insurance costs $3,310 or more. Teen 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 comprehensive and collision deductibles, minimum liability limits, and includes additional medical/uninsured motorist coverage. Estimates are averaged for all 50 U.S. states and Ioniq 5 trim levels.
Price Range from Low to High
For a 40-year-old driver, Hyundai Ioniq 5 insurance prices range from as low as $416 for just the minimum liability insurance to a high of $3,310 for high-risk insurance.
Geographic Price Range
Your location has a significant impact on the price of insurance. Areas with sparse population have a lower frequency of comprehensive and collision claims than larger metro areas. The diagram below illustrates how your location can change auto insurance rates.
The ranges above highlight why it is important to compare rates for a specific zip code and risk profile, rather than relying on price 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.
Additional Rate Analysis
The chart below breaks down average Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $857
- Drivers who choose higher $1,000 deductibles will pay about $1,292 every year
- The average rate for the average middle-age driver using $500 deductibles is $1,524
- Choosing low $100 deductibles for comprehensive and collision insurance will cost an extra $454 a year
- High risk drivers with multiple violations and an at-fault accident could pay at least $3,310
- The price for full coverage for a teen driver can be $5,510 a year
Car insurance prices for a Hyundai Ioniq 5 are also quite variable based on your driving record, the model of your Ioniq 5, and deductibles and policy limits.
Older drivers with no driving violations and high deductibles could pay as little as $1,400 per year on average for full coverage. Prices are highest for teenage drivers, where even good drivers will be charged as much as $5,500 a year. View Rates by Age
The state you live in makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay as low as $1,170 a year in states like Missouri, New Hampshire, and Vermont, or as much as $2,170 on average in Michigan, New York, and Louisiana.
| 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% |
Choosing high deductibles could save up to $690 each year, while buying higher liability limits will increase prices. Changing from a 50/100 limit to a 250/500 limit will increase prices by as much as $327 extra every 12 months. View Rates by Deductible or Liability Limit
If you have some driving violations or tend to cause accidents, you are likely paying at least $1,800 to $2,500 extra each year, depending on your age. A high-risk auto insurance policy can cost anywhere from 45% to 132% more than average. View High Risk Driver Rates
| 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 Hyundai Ioniq 5 insurance not only requires having a decent driving record, but also having above-average credit, being claim-free, and consideration of higher deductibles. Invest the time to shop around every couple of years by getting quotes from direct car insurance companies like Progressive and GEICO, and also from several local insurance agents.
The following items are a brief review of the material that was illustrated above.
- Drivers who may need additional liability coverage will pay about $400 per year to go from a low limit to 250/500 limits
- 16 to 18-year-old drivers are the costliest to insure, possibly costing $459 a month if full coverage is included
- High-risk drivers with DUI or reckless driving convictions pay on average $1,790 more every year than a driver with a clean driving record
- Increasing physical damage deductibles can save around $675 each year
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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