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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Average insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months including full coverage. Comprehensive insurance costs around $356, collision costs $668, and liability coverage is $364. A liability-only policy costs around $416 a year, with high-risk insurance costing $3,310 or more. Teenage drivers receive the highest rates at $5,510 a year or more.
Average premium for full coverage: $1,524
Rate estimates for individual coverage type:
Estimates include $500 deductibles, 30/60 liability limits, and includes UM/UIM and medical coverage. Rates are averaged for all 50 U.S. states and for different Ioniq 5 trim levels.
Price Range by Coverage and Risk
Using a middle-aged driver as an example, prices range go from the cheapest price of $416 for a discount liability-only rate to a much higher rate of $3,310 for a driver required to buy high-risk insurance.
Price Range by Location
Choosing to live in a large city has a large influence on the price of insurance. Areas with sparse population tend to have more infrequent comprehensive and collision claims than densely populated cities.
The price range example below illustrates how where you live affects auto insurance rates.
These examples highlight why anyone shopping for car insurance should compare rates quotes for a specific zip code and their own driving history, rather than 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.
Rates by State, City, and Model
The chart below breaks down estimated Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The best discount rate is $857
- Raising to $1,000 deductibles will save about $232 every year
- The average price for a 40-year-old driver using $500 deductibles is $1,524
- Using more expensive low deductibles costs an extra $454 each year
- Unlucky drivers who are prone to accidents and violations could pay at least $3,310 or more
- The cost to insure a teenage driver with full coverage can be $5,510
Insurance rates for a Hyundai Ioniq 5 can also vary considerably based on policy deductibles and limits, your driving characteristics, and the trim level and model year.
Using high physical damage deductibles can reduce rates by up to $690 a year, while increasing your policy's liability limits will increase rates. Changing from a 50/100 liability limit to a 250/500 limit will cost as much as $327 more per year. View Rates by Deductible or Liability Limit
An older driver with a clean driving record and higher deductibles may only pay around $1,400 every 12 months on average for full coverage. Rates are much higher for teen drivers, since even excellent drivers can expect to pay as much as $5,500 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you are likely paying at least $1,800 to $2,500 extra per year, depending on your age. High-risk driver insurance is expensive and can cost around 45% to 132% more than a normal policy. View High Risk Driver Rates
Where you live also has a big influence on Hyundai Ioniq 5 insurance rates. A middle-age driver might find rates as low as $1,170 a year in states like Missouri, New Hampshire, and Vermont, or be forced to pay 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% |
With so much variability in rates, the best way to figure out your exact price is to compare rates and see how they stack up. 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 | $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 Shop for Low Cost Hyundai Ioniq 5 Insurance
Saving money on auto insurance consists of not taking risks behind the wheel, having good credit, not filing small claims, and insuring your home and auto with the same company. Take the time to comparison shop at every policy renewal by requesting rates from direct car insurance companies like GEICO, Progressive, and Esurance, and also from insurance agencies where you live.
The following is a review of the data touched on in the above illustrations.
- Consumers who may need higher liability limits will pay an extra $400 per year to raise from a minimum limit to a 250/500 level
- You may be able to save up to $190 per year simply by shopping early and online
- Increasing deductibles could save as much as $675 each year
- Teens pay higher rates, as much as $459 per month if they have full coverage
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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