Hyundai Ioniq 5 Insurance Rates

The average insurance rates for a Hyundai Ioniq 5 are $1,556 a year with full coverage. Comprehensive insurance costs an estimated $368 a year, collision insurance costs $698, and liability is $354. Liability-only coverage costs around $406 a year, and high-risk coverage costs $3,374 or more. Teenage drivers cost the most to insure at up to $5,590 a year.

Average premium for full coverage: $1,556

Policy rates broken down by type of insurance:

Full coverage includes $500 policy deductibles, split liability limits of 30/60, and includes uninsured motorist and medical coverage. Prices are averaged for all U.S. states and Ioniq 5 trim levels.

Price Range Variability

Urban vs. Rural Price Range

Choosing to live in a large city can make a big difference on car insurance rates. More rural locations are shown to have a lower frequency of collision claims than densely populated cities. The diagram below illustrates how location helps determine insurance prices.

The examples above demonstrate why it is important to compare rates quotes for a targeted area and risk profile, instead of making a decision based on average rates.

Use the form below to get customized rates for your location.

Additional Rate Information

The chart below details average Hyundai Ioniq 5 insurance rates for other coverage scenarios.

• The best discount rate is $870
• Raising to $1,000 deductibles will save approximately $1,314 annually
• The average rate for a good driver age 40 who has $500 deductibles is $1,556
• Using low $100 deductibles will cost an extra $472 annually
• Drivers who are prone to accidents and violations could pay up to $3,374
• Policy cost for full coverage for a 16-year-old driver can cost as much as $5,590

View Chart as Image

Insurance rates for a Hyundai Ioniq 5 also range considerably based on your risk profile, the trim level and model year, and liability limits and deductibles.

Older drivers with no violations or accidents and high deductibles may pay as low as $1,400 every 12 months on average, or $117 per month, for full coverage. Rates are much higher for teenagers, where even good drivers should be prepared to pay at least $5,500 a year. View Rates by Age

Your home state also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find rates as low as $1,120 a year in states like Utah, Ohio, and New Hampshire, or be forced to pay as much as $2,100 on average in New York, Michigan, and Florida.

View Chart as Image

Using high physical damage deductibles can reduce rates by up to $720 annually, while buying higher liability limits will increase premiums. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $318 more each year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you may be forking out $1,800 to $2,500 additional every year, depending on your age. A high-risk auto insurance policy is expensive and can cost from 45% to 129% more than a normal policy. View High Risk Driver Rates

How to Find More Affordable Hyundai Ioniq 5 Insurance

Finding cheaper rates on insurance for a Hyundai Ioniq 5 consists of being safe and accident-free, having a good credit history, not filing small claims, and possibly raising deductibles. Invest time comparing rates at least once a year by requesting rates from direct companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.

Below you'll find a summary of the primary concepts that were covered in the charts and tables above.

• You may be able to save approximately $200 per year just by quoting early and online
• Drivers considered higher risk who have multiple accidents or major violations may pay on average $1,820 more annually than a low-risk driver
• Increasing comprehensive and collision deductibles can save around $725 each year
• Youthful drivers are expensive to insure, as much as $466 each month including comprehensive and collision insurance