Hyundai Ioniq 5 Insurance Rates

U.S. average insurance rates for a Hyundai Ioniq 5 are $1,524 a year for full coverage insurance. Comprehensive costs on average $356 each year, collision insurance costs $668, and liability insurance costs $364. Liability-only insurance costs as little as $416 a year, and high-risk driver insurance costs around $3,310. Teenage drivers pay the highest rates at up to $5,510 a year.

Average premium for full coverage: $1,524

Price estimates by individual coverage:

Rates are based on $500 policy deductibles, 30/60 bodily injury liability limits, and includes UM/UIM and medical coverage. Estimates are averaged for all 50 states and Ioniq 5 models.

Price Range from Low to High

Geographic Price Range

Your location has a significant impact on insurance rates. Rural areas have a lower frequency of physical damage claims than densely populated cities. The graphic below illustrates the difference location can make on car insurance rates.

The ranges above illustrate why all drivers should compare rates based on a specific location and risk profile, rather than relying on average rates.

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

Rates by State, City, and Model

The chart below illustrates average Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.

• The best discount rate is $857
• Drivers who choose higher $1,000 deductibles will pay around $232 each year
• The average rate for the average middle-age driver with $500 deductibles is $1,524
• Using low deductibles for comprehensive and collision insurance will increase the cost to $1,978
• High risk drivers who are prone to accidents and violations could pay upwards of $3,310
• The price for full coverage for a teen driver may cost $5,510 a year

View Chart as Image

Car insurance prices for a Hyundai Ioniq 5 are also quite variable based on your driving record, the model year and trim level, and policy deductibles and limits.

More mature drivers with no driving violations and high deductibles could pay as little as $1,400 per year on average for full coverage. Prices are much higher for teenage drivers, where even good drivers will be charged upwards of $5,500 a year. View Rates by Age

The state you live in makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay as low as $990 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,060 on average in Michigan, New York, and Florida.

View Chart as Image

Using high physical damage deductibles could save up to $690 each year, whereas increasing liability limits will cost you more. Switching from a 50/100 limit to a 250/500 limit will increase prices by as much as $327 extra every 12 months. View Rates by Deductible or Liability Limit

If you have some driving violations or tend to cause accidents, you are probably paying at a minimum $1,800 to $2,500 extra each year, depending on your age. Insurance for high-risk drivers can cost anywhere from 45% to 132% more than a normal policy. View High Risk Driver Rates

How to Find the Best Cheap Hyundai Ioniq 5 Insurance

Getting lower rates on Hyundai Ioniq 5 insurance not only requires being safe and accident-free, but also having above-average credit, not filing small claims, and possibly raising deductibles. Make time to compare rates at every other renewal by getting quotes from direct insurance companies like Progressive and GEICO, and also from local independent and exclusive agents.

Below you'll find a quick review of the concepts that were touched on in this article.

• High-risk drivers with a DUI or reckless driving violation pay an average of $1,790 more each year than a low-risk driver
• Youthful drivers are expensive to insure, as much as $459 a month if full coverage is included
• It is possible to save as much as $190 per year just by quoting online in advance
• Increasing physical damage deductibles can save around $675 each year
• It is possible to save as much as $190 per year just by quoting online in advance