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 insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months for full coverage insurance. Comprehensive costs approximately $356 a year, collision insurance costs $668, and liability insurance costs around $364. A liability-only policy costs as low as $416 a year, and high-risk insurance costs around $3,310. Teen drivers cost the most to insure at up to $5,510 a year.
Average premium for full coverage: $1,524
Policy rates by type of insurance:
Prices are based on $500 deductible amounts, 30/60 bodily injury liability limits, and includes additional medical/uninsured motorist coverage. Prices are averaged for all 50 states and Ioniq 5 trim levels.
Price Range Variability
For the average driver, Hyundai Ioniq 5 insurance rates range from the cheapest price of $416 for just the minimum liability insurance to a high of $3,310 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Where you live has a significant impact on the price of auto insurance. Rural locations are shown to have more infrequent physical damage claims than larger metro areas. The diagram below illustrates how location impacts auto insurance prices.
The examples above illustrate why it is important to compare prices using their specific location and their own driving history, 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 illustrates average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $857
- Using higher $1,000 deductibles will save $1,292 each year
- The average price for a good driver age 40 who chooses $500 deductibles is $1,524
- Choosing low $100 deductibles for physical damage coverage increases the price to $1,978
- Drivers with multiple violations and an at-fault accident could pay around $3,310
- Policy cost to insure a teen driver can cost $5,510 or more
Car insurance rates for a Hyundai Ioniq 5 also range considerably based on liability limits and deductibles, your risk profile, and the model of your Ioniq 5.
Choosing high deductibles could cut rates by as much as $690 each year, while buying higher liability limits will push rates upward. Switching from a 50/100 liability limit to a 250/500 limit will raise rates by up to $327 extra every 12 months. View Rates by Deductible or Liability Limit
Older drivers with no driving violations and higher deductibles could pay as little as $1,400 a year, or $117 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers will be charged in the ballpark of $5,500 a year. View Rates by Age
If you have a few points on your driving record or you were responsible for an accident, you are probably paying anywhere from $1,800 to $2,500 extra every year, depending on your age. A high-risk auto insurance policy can be anywhere from 45% to 132% more than average. View High Risk Driver Rates
Your home state has a huge impact on Hyundai Ioniq 5 insurance rates. A driver around age 40 might see rates as low as $990 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,060 on average in Florida, New York, 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% |
| 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 Affordable Hyundai Ioniq 5 Insurance
Finding cheaper rates on Hyundai Ioniq 5 insurance requires having a good driving record, maintaining a good credit score, being claim-free, and attention to physical damage deductibles. Spend time shopping around at every other renewal by requesting quotes from direct insurance companies, and also from local insurance agencies.
The next list is a brief review of the concepts that were touched on above.
- High-risk drivers with DUI or reckless driving convictions may have to pay on average $1,790 more per year to buy Hyundai Ioniq 5 insurance
- Drivers age 20 and younger pay the highest auto insurance rates, possibly costing $459 each month if the policy includes full coverage
- It is possible to save around $190 per year just by quoting early and online
- Increasing comprehensive and collision deductibles could save as much as $675 each year
- It is possible to save around $190 per year just 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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