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 prices for a Hyundai Ioniq 5 are $1,524 every 12 months for full coverage. Comprehensive insurance costs approximately $356 a year, collision costs $668, and liability costs $364. Buying just liability costs as little as $416 a year, with insurance for high-risk drivers costing $3,310 or more. Teen drivers pay the highest rates at $5,510 a year or more.
Average premium for full coverage: $1,524
Price estimates by individual coverage:
Estimates include $500 deductibles, 30/60 bodily injury liability limits, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all states and Ioniq 5 trim levels.
Price Range from Low to High
Using a 40-year-old driver as an example, Hyundai Ioniq 5 insurance prices go from the cheapest price of $416 for your basic liability-only policy to a high of $3,310 for a driver who requires high-risk insurance.
Geographic Price Range
Your location can have significant affects on car insurance rates. Rural locations have more infrequent accident claims than larger metro areas.
The diagram below illustrates how rural and urban location affects auto insurance prices.
The ranges above show why it is important to compare rates using their specific location and their own driving history, instead of using 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.
More Rate Information
The chart below shows estimated Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $857
- Drivers who choose higher $1,000 deductibles will pay $1,292 a year
- The average price for the average middle-age driver who chooses $500 deductibles is $1,524
- Choosing low $100 deductibles for comprehensive and collision insurance costs an extra $454 every year
- Higher-risk drivers with multiple violations and an at-fault accident could pay around $3,310 or more
- The price to insure a teen driver can cost $5,510 a year
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on deductibles and policy limits, your driver profile, and the model of your Ioniq 5.
Choosing high deductibles could save up to $690 every year, while buying higher liability limits will push prices upward. Going from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $327 more each year. View Rates by Deductible or Liability Limit
Older drivers with no violations or accidents and higher deductibles may pay as little as $1,400 per year on average for full coverage. Prices are highest for teenage drivers, since even excellent drivers should be prepared to pay in the ballpark of $5,500 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you could be paying anywhere from $1,800 to $2,500 additional each year, depending on your age. A high-risk auto insurance policy can cost as much as 45% to 132% more than average. View High Risk Driver Rates
The state you live in makes a big difference in Hyundai Ioniq 5 insurance prices. A 40-year-old driver could pay as low as $1,010 a year in states like Iowa, Maine, and Idaho, or as much as $2,170 on average in New York, Louisiana, and Michigan.
| 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% |
Since prices can be so different, the only way to know who has the cheapest car insurance prices is to get quotes and see which company has the best price. Every company uses a different rate calculation, and prices may be quite 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
Getting lower rates on car insurance not only requires not taking risks behind the wheel, but also having above-average credit, eliminating unnecessary coverage, and qualifying for all possible discounts. Set aside time to shop around at every other renewal by getting quotes from direct carriers like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
The following is a review of the concepts that were raised in the charts and tables above.
- Higher risk drivers who have several accidents or serious violations may pay on average $1,790 more per year for Ioniq 5 insurance
- Teens are the costliest to insure, with premiums as much as $459 a month if full coverage is included
- Drivers can save around $190 per year simply by quoting early and online
- Increasing physical damage deductibles could save as much as $675 each year
- Drivers can save around $190 per year simply by quoting early and online
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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