Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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The average insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months with full coverage. Comprehensive insurance costs approximately $356, collision costs $668, and liability costs $364. Liability-only insurance costs as little as $416 a year, with high-risk driver insurance costing $3,310 or more. Teen drivers cost the most to insure at $5,510 a year or more.
Average premium for full coverage: $1,524
Policy rates by type of insurance:
Price estimates include $500 comprehensive and collision deductibles, 30/60 liability coverage, and includes uninsured/under-insured motorist coverage. Prices are averaged for all U.S. states and for all Ioniq 5 models.
Price Range Variability
For an average driver, Hyundai Ioniq 5 insurance rates go from the cheapest price of $416 for your basic liability-only policy to the much higher price of $3,310 for a policy for a high-risk driver.
Urban vs. Rural Price Range
Your location can have significant affects on the price of insurance. Rural locations are shown to have more infrequent collision claims than larger metro areas.
The example below illustrates the effect of geographic area on auto insurance prices.
The examples above demonstrate why everyone should compare rates using their specific location and their own driving history, instead of using price 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.
More Rate Information
The chart below details estimated Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $857
- Drivers who choose higher $1,000 deductibles will pay $232 annually
- The average price for a good driver age 40 who chooses $500 deductibles is $1,524
- Choosing pricier low deductibles for comprehensive and collision insurance costs an extra $454 every year
- Higher-risk drivers with multiple violations and an at-fault accident could pay around $3,310 or more
- Policy cost to insure a teen driver for full coverage can cost $5,510 a year
Auto insurance rates for a Hyundai Ioniq 5 also range considerably based on liability limits and deductibles, your driving record, and the model of your Ioniq 5.
Choosing high deductibles could save up to $690 every year, whereas buying more liability protection will push rates upward. Moving from a 50/100 liability limit to a 250/500 limit will raise rates by up to $327 extra every year. View Rates by Deductible or Liability Limit
A more mature driver with a good driving record and higher deductibles may pay as little as $1,400 per year on average, or $117 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers will have to pay in the ballpark of $5,500 a year. View Rates by Age
If you have a few points on your driving record or you were responsible for an accident, you may be forking out anywhere from $1,800 to $2,500 in extra premium every year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can cost as much as 45% to 132% more than average. View High Risk Driver Rates
Your home state makes a big difference in Hyundai Ioniq 5 insurance prices. A 40-year-old driver could pay as low as $1,100 a year in states like Utah, Ohio, and New Hampshire, or as much as $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% |
Because rates have so much variability, the best way to find out who has the cheapest auto insurance rates is to regularly compare rates and see which company has the best rate. Every company uses a different rate calculation, and quoted rates will be varied.
| 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 Cheaper Hyundai Ioniq 5 Insurance
Finding cheaper rates on car insurance not only requires avoiding accidents and violations, but also having a good credit score, not filing small claims, and not having any coverage lapses. Take the time to compare rates every year by getting rate quotes from direct companies, and also from insurance agencies where you live.
The list below is a condensed summary of the coverage data covered in the above illustrations.
- You may be able to save around $190 per year simply by quoting online well ahead of the renewal date
- Increasing comprehensive and collision deductibles could save as much as $675 each year
- Teenagers have the highest car insurance rates, as much as $459 each month if comprehensive and collision insurance is included
- Higher risk drivers with multiple at-fault accidents could be forced to pay on average $1,790 more per year for car insurance
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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