Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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Average insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months for full coverage. Comprehensive insurance costs around $356 a year, collision insurance costs $668, and liability is $364. A liability-only policy costs around $416 a year, and high-risk insurance costs $3,310 or more. 16-year-old drivers receive the highest rates at up to $5,510 a year.
Average premium for full coverage: $1,524
Rate estimates for individual coverage type:
Prices include $500 deductible amounts, 30/60 liability limits, and includes UM/UIM and medical coverage. Rates are averaged for all states and Ioniq 5 trim levels.
Price Range by Coverage and Risk
For the average 40-year-old driver, prices range range from the cheapest price of $416 for a discount liability-only rate to a high of $3,310 for a driver required to buy high-risk insurance.
Price Range by Location
Choosing to live in a large city can make a big difference on auto insurance rates. Areas with sparse population tend to have more infrequent accident claims than congested cities. The diagram below illustrates the difference location can make on auto insurance rates.
These examples show why it is important to compare rates quotes for a specific zip code and their own driving history, instead of making a decision based on rate 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.
Rates by State, City, and Model
The chart below shows average Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The best full coverage rate is $857
- Raising to $1,000 deductibles will save about $1,292 a year
- The average price for a 40-year-old driver using $500 deductibles is $1,524
- Buying low $100 deductibles costs an extra $454 annually
- Drivers with multiple tickets or accidents could pay at least $3,310
- The cost to insure a 16-year-old driver can be $5,510
Insurance rates for a Hyundai Ioniq 5 can also vary considerably based on policy deductibles and limits, your driver profile, and the trim level and model year.
Opting for high physical damage deductibles can reduce rates by up to $690 annually, while buying higher liability limits will increase rates. Going from a 50/100 liability limit to a 250/500 limit will cost as much as $327 more per year. View Rates by Deductible or Liability Limit
Older drivers with a clean driving record and higher deductibles may pay as low as $1,400 every 12 months on average for full coverage. Rates are highest for teen drivers, since even excellent drivers can expect to pay as much as $5,500 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you could be paying at least $1,800 to $2,500 extra per year, depending on your age. A high-risk auto insurance policy is expensive and can cost from 45% to 132% more than the average rate. View High Risk Driver Rates
Where you live also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find rates as low as $1,010 a year in states like Idaho, Maine, and Iowa, or at least $2,170 on average in Michigan, Louisiana, and New York.
| 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 the Right Hyundai Ioniq 5 Insurance
Saving money on insurance for a Hyundai Ioniq 5 consists of having a good driving record, having good credit, eliminating unneeded coverage, and dropping full coverage on older vehicles. Make time to compare rates at every policy renewal by getting rate quotes from direct carriers like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
The next list is a quick rundown of the data touched on in this article.
- Insureds who may need increased levels of liability coverage will pay around $400 each year to raise from a minimum limit to a 250/500 level
- Drivers can save up to $190 per year just by quoting early and online
- Increasing deductibles could save as much as $675 each year
- Drivers age 20 and younger pay higher rates, costing as high as $459 per month if they have full coverage
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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