Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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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 with full coverage. Comprehensive costs an estimated $356, collision costs $668, and liability coverage is estimated at $364. Buying just liability costs approximately $416 a year, with insurance for high-risk drivers costing around $3,310. Teens receive the highest rates at $5,510 a year or more.
Average premium for full coverage: $1,524
Rate estimates broken down by individual coverage type:
Prices include $500 deductible amounts, 30/60 split liability limits, and includes both medical and UM/UIM coverage. Rates are averaged for all U.S. states and for all Ioniq 5 models.
Price Range by Coverage and Risk
Using a 40-year-old driver as an example, prices range go from as cheap as $416 for basic liability insurance to the much higher price of $3,310 for a high-risk insurance policy.
Price Range by Location
Living in a larger city has a large influence on car insurance rates. More rural locations tend to have fewer collision claims than cities with more traffic congestion.
The example below illustrates how rural and urban location affects insurance prices.
These examples demonstrate why everyone should get quotes for a targeted area and their own personal driving habits, rather than using averaged prices.
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.
Rate Comparisons
The chart below details estimated Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The cheapest rate after discounts is $857
- Choosing higher $1,000 deductibles can save approximately $232 annually
- The estimated rate for a 40-year-old driver who has $500 deductibles is $1,524
- Selecting pricier low deductibles for comp and collision coverage will cost $1,978
- Drivers with serious driving violations could pay up to $3,310 or more
- The cost with full coverage for a teenage driver for full coverage can cost as much as $5,510 each year
Auto insurance rates for a Hyundai Ioniq 5 can also vary considerably based on the trim level of your Ioniq 5, your driving record, and liability limits and deductibles.
A more mature driver with a good driving record and high physical damage deductibles may only pay around $1,400 annually on average for full coverage. Rates are much higher for teen drivers, where even without any violations or accidents they will have to pay at least $5,500 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you may be forking out $1,800 to $2,500 in extra premium per year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers ranges around 45% to 132% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles can save as much as $690 a year, whereas buying more liability protection will increase premiums. Moving from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $327 extra every year. View Rates by Deductible or Liability Limit
Where you live plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $1,100 a year in states like Utah, Ohio, and New Hampshire, or have to pay at least $2,060 on average in New York, Michigan, and Florida.
| 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 find out which company is cheapest is to regularly compare rates and see how they stack up. Each auto insurer calculates rates differently, and quoted 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 Right Hyundai Ioniq 5 Insurance
Saving money on auto insurance takes having a good driving record, having above-average credit, eliminating unnecessary coverage, and qualifying for all possible discounts. Set aside time to shop around at least every other year by getting rate quotes from direct companies like Progressive and GEICO, and also from several local insurance agents.
The next list is a quick rundown of the car insurance concepts raised in the charts and tables above.
- Drivers with reckless driving or DUI convictions pay on average $1,790 more annually to buy Hyundai Ioniq 5 insurance
- You may be able to save approximately $190 per year simply by quoting online well ahead of the renewal date
- Increasing deductibles could save up to $675 each year
- Consumers who want increased levels of liability coverage will pay approximately $400 every year to raise limits from a minimum limit to higher 250/500 limits
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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