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 auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually including full coverage. Comprehensive insurance costs around $356, collision costs $668, and liability costs $364. A liability-only policy costs as little as $416 a year, with high-risk insurance costing $3,310 or more. Teen 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:
Rate estimates include $500 physical damage deductibles, bodily injury liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates are averaged for all 50 U.S. states and for all Ioniq 5 models.
Price Range by Coverage and Risk
For a driver around age 40, prices range go from as cheap as $416 for minimum levels of liability insurance to the much higher price of $3,310 for a driver who has had serious violations or accidents.
Price Range by Location
Your location can have significant affects on the price of insurance. Areas with sparse population tend to have fewer comprehensive and collision claims than larger metro areas.
The example below illustrates the difference between rural and urban areas on auto insurance rates.
These examples highlight why everyone should compare rates for a specific zip code and their own personal driving habits, 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.
Additional Rate Details
The chart below breaks down estimated 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 $232 every year
- The estimated rate for a 40-year-old driver using $500 deductibles is $1,524
- Choosing pricier low deductibles for comprehensive and collision insurance costs an additional $454 every year
- Higher-risk drivers with multiple violations and an at-fault accident could pay at least $3,310 or more
- The cost with full coverage for a teen driver for full coverage can be $5,510 a year
Insurance rates for a Hyundai Ioniq 5 can also vary considerably based on the trim level of your Ioniq 5, your driving characteristics, and deductibles and policy limits.
A more mature driver with a clean driving record and high physical damage deductibles may pay as little as $1,400 per year on average for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they can expect to pay as much as $5,500 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are likely paying at least $1,800 to $2,500 extra per year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can cost as much as 45% to 132% more than average. View High Risk Driver Rates
Choosing high deductibles could save up to $690 every year, whereas buying more liability protection will increase rates. Changing from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $327 more per year. View Rates by Deductible or Liability Limit
Where you live makes a big difference in Hyundai Ioniq 5 insurance prices. 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% |
With so much variability in rates, the best way to figure out your exact price is to regularly compare rates and see which company has the best rate. Every company uses a different rate calculation, so the rates can be significantly different between companies.
| 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 Buy the Best Hyundai Ioniq 5 Insurance
Saving money on car insurance not only requires being a safe and courteous driver, but also having a good credit history, not filing small claims, and insuring your home and auto with the same company. Set aside time to compare rates every other policy renewal by getting quotes from direct car insurance companies like Progressive and GEICO, and also from your local independent and exclusive agents.
Below is a brief recap of the ideas that were covered above.
- Teenage drivers pay higher rates, as much as $459 per month including comprehensive and collision insurance
- Higher risk drivers who tend to receive serious violations may pay on average $1,790 more every year for auto insurance
- Increasing deductibles could save up to $675 each year
- You may be able to save up to $190 per year simply by quoting online well ahead of the renewal date
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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