Hyundai Ioniq 5 Insurance Rates
Enter your zip code below to view companies that have cheap auto insurance rates.
Michelle Robbins
Licensed Insurance Agent
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...
Licensed Insurance Agent
UPDATED: Mar 28, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
U.S. average insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months for full coverage insurance. Comprehensive costs an estimated $356 a year, 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. Teenage drivers pay the highest rates at $5,510 a year or more.
Average premium for full coverage: $1,524
Price estimates broken down by individual coverage:
These estimates include $500 deductible amounts, 30/60 bodily injury liability limits, and includes both medical and uninsured motorist insurance. Estimates are averaged for all 50 states and Ioniq 5 trim levels.
Price Range from Low to High
Using a 40-year-old driver as an example, Hyundai Ioniq 5 insurance prices go from the cheapest price of $416 for minimum levels of liability insurance to a high of $3,310 for a driver who requires high-risk insurance.
Geographic Price Range
Living in a larger city has a large influence on the price of insurance. More rural locations have more infrequent physical damage claims than densely populated cities.
The diagram below illustrates how rural and urban location affects insurance prices.
The ranges above illustrate why it is important to get quotes for a targeted area and their own driving history, rather than using average rates.
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 illustrates estimated Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The best discount rate is $857
- Choosing higher $1,000 deductibles can save approximately $1,292 each year
- The average price for the average middle-age driver who has $500 deductibles is $1,524
- Using low $100 deductibles for comp and collision coverage increases the price to $1,978
- Drivers who are prone to accidents and violations could pay up to $3,310 or more
- The price to insure a teenage driver can cost as much as $5,510 each year
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on deductibles and policy limits, your risk profile, and the model year and trim level.
Using high physical damage deductibles can save as much as $690 a year, while buying higher liability limits will increase premiums. Switching from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $327 more each year. View Rates by Deductible or Liability Limit
Older drivers with no violations or accidents and higher deductibles may only pay around $1,400 annually on average for full coverage. Prices are much higher for teenage drivers, since even excellent drivers should be prepared to pay at least $5,500 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you are probably paying $1,800 to $2,500 additional each year, depending on your age. A high-risk auto insurance policy ranges around 45% to 132% more than a normal policy. View High Risk Driver Rates
The state you live in plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $990 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,060 on average in Florida, New York, and Michigan.
| 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% |
Since prices can be so different, the only way to figure out which car insurance is cheapest is to get quotes and see how they stack up. Each auto insurer uses a different method to calculate prices, and prices may be quite different.
| 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 Cheap Hyundai Ioniq 5 Insurance
Getting lower rates on auto insurance takes having a good driving record, having above-average credit, not filing small claims, and maximizing policy discounts. Set aside time to shop around at every other renewal by requesting rates from direct insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The next list is a brief summary of the concepts that were raised in the charts and tables above.
- Drivers that tend to have accidents or serious violations could be forced to pay on average $1,790 more annually to buy Hyundai Ioniq 5 insurance
- Drivers age 20 and younger are expensive to insure, as much as $459 a month if full coverage is included
- It is possible to save approximately $190 per year simply by quoting early and online
- Increasing physical damage deductibles could save as much as $675 each year
- It is possible to save approximately $190 per year simply by quoting early and online
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.
Compare Rates and Save
Find companies with the cheapest rates in your area
