Hyundai Ioniq 5 Insurance Rates

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UPDATED: Mar 28, 2024

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The average insurance rates for a Hyundai Ioniq 5 are $1,556 a year for full coverage insurance. Comprehensive costs approximately $368, collision insurance costs $698, and liability insurance costs around $354. Liability-only insurance costs as low as $406 a year, and high-risk driver insurance costs around $3,374. Teen drivers cost the most to insure at up to $5,590 a year.

Average premium for full coverage: $1,556

Policy rates by type of insurance:

Comprehensive $368
Collision $698
Liability $354

Price estimates include $500 comprehensive and collision deductibles, minimum liability limits, and includes medical and uninsured motorist coverage. Prices are averaged for all 50 states and for different Ioniq 5 trim levels.

Price Range Variability

Using a 40-year-old driver as an example, Hyundai Ioniq 5 insurance rates range from the low end price of $406 for just liability coverage to a much higher rate of $3,374 for high-risk insurance.

Liability Only $406
Full Coverage $1,556
High Risk $3,374

Urban vs. Rural Price Range

Where you live has a significant impact on the price of auto insurance. Rural locations are shown to have lower incidents of physical damage claims than larger metro areas. The price range example below illustrates how rural and urban location affects auto insurance prices.

Rural Areas $1,167
Small Cities $1,634
Large Cities $2,101

The examples above illustrate why anyone shopping for car insurance should compare prices using their specific location, rather than relying on 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.

Detailed Rate Analysis

The chart below illustrates average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.

  • The lowest rate with discounts is $870
  • Using higher $1,000 deductibles will save $242 each year
  • The estimated price for a good driver age 40 who chooses $500 deductibles is $1,556
  • Choosing more expensive low deductibles for physical damage coverage bumps up the cost to $2,028
  • Drivers with multiple violations and an at-fault accident could pay around $3,374
  • Policy cost that insures a teen driver with full coverage can cost $5,590 or more

View Chart as Image

Hyundai Ioniq 5 insurance cost comparison chart
Column chart showing Hyundai Ioniq 5 insurance rates range from $870 to $5,590 for full coverage

Auto insurance rates for a Hyundai Ioniq 5 also range considerably based on the model year and trim level, your age and driving record, and physical damage deductibles and liability limits.

If you have a few points on your driving record or you caused an accident, you are probably paying anywhere from $1,800 to $2,500 in extra premium every year, depending on your age. High-risk driver insurance can be anywhere from 45% to 129% more than average. View High Risk Driver Rates

An older driver with a good driving record and higher comprehensive and collision deductibles could pay as little as $1,400 a year, or $117 per month, for full coverage. Rates are highest for teenagers, since even teens with perfect driving records will have to pay in the ballpark of $5,500 a year. View Rates by Age

Your home state has a huge impact on Hyundai Ioniq 5 insurance rates. A driver around age 40 might see rates as low as $1,020 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,100 on average in Florida, New York, and Michigan.

Hyundai Ioniq 5 Insurance Rates by State
State Premium Compared to U.S. Avg Percent Difference
Alabama $1,406 -$150 -9.6%
Alaska $1,192 -$364 -23.4%
Arizona $1,290 -$266 -17.1%
Arkansas $1,556 -$0 0.0%
California $1,774 $218 14.0%
Colorado $1,484 -$72 -4.6%
Connecticut $1,598 $42 2.7%
Delaware $1,760 $204 13.1%
Florida $1,944 $388 24.9%
Georgia $1,436 -$120 -7.7%
Hawaii $1,116 -$440 -28.3%
Idaho $1,054 -$502 -32.3%
Illinois $1,158 -$398 -25.6%
Indiana $1,172 -$384 -24.7%
Iowa $1,050 -$506 -32.5%
Kansas $1,476 -$80 -5.1%
Kentucky $2,122 $566 36.4%
Louisiana $2,302 $746 47.9%
Maine $960 -$596 -38.3%
Maryland $1,284 -$272 -17.5%
Massachusetts $1,240 -$316 -20.3%
Michigan $2,700 $1,144 73.5%
Minnesota $1,302 -$254 -16.3%
Mississippi $1,864 $308 19.8%
Missouri $1,382 -$174 -11.2%
Montana $1,670 $114 7.3%
Nebraska $1,224 -$332 -21.3%
Nevada $1,864 $308 19.8%
New Hampshire $1,120 -$436 -28.0%
New Jersey $1,740 $184 11.8%
New Mexico $1,376 -$180 -11.6%
New York $1,636 $80 5.1%
North Carolina $896 -$660 -42.4%
North Dakota $1,274 -$282 -18.1%
Ohio $1,072 -$484 -31.1%
Oklahoma $1,594 $38 2.4%
Oregon $1,426 -$130 -8.4%
Pennsylvania $1,484 -$72 -4.6%
Rhode Island $2,074 $518 33.3%
South Carolina $1,410 -$146 -9.4%
South Dakota $1,312 -$244 -15.7%
Tennessee $1,360 -$196 -12.6%
Texas $1,874 $318 20.4%
Utah $1,150 -$406 -26.1%
Vermont $1,062 -$494 -31.7%
Virginia $932 -$624 -40.1%
Washington $1,200 -$356 -22.9%
West Virginia $1,426 -$130 -8.4%
Wisconsin $1,074 -$482 -31.0%
Wyoming $1,384 -$172 -11.1%

View Chart as Image

Hyundai Ioniq 5 insurance rates by U.S. city

Choosing high deductibles could cut rates by as much as $720 each year, while increasing your policy's liability limits will push rates upward. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $318 extra every year. View Rates by Deductible or Liability Limit

Hyundai Ioniq 5 Insurance Rates by Model Year
Model Year Comprehensive Collision Liability Total Premium
2024 Hyundai Ioniq 5 $398 $720 $332 $1,586
2023 Hyundai Ioniq 5 $382 $714 $338 $1,570
2022 Hyundai Ioniq 5 $368 $698 $354 $1,556
2021 Hyundai Ioniq 5 $356 $668 $364 $1,524

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 Find Cheaper Hyundai Ioniq 5 Insurance

Finding cheaper rates on Hyundai Ioniq 5 insurance requires having a decent driving record, maintaining a good credit score, being claim-free, and possibly higher deductibles. Shop around every couple of years by getting rate quotes from direct insurance companies, and also from your local car insurance providers.

The following items are a condensed summary of the material that was raised in the charts and tables above.

  • Drivers who purchase additional liability coverage will pay about $390 annually to increase from a 30/60 limit to the 250/500 level
  • 16 to 18-year-old drivers have the highest car insurance rates, possibly costing $466 each month if the policy includes full coverage
  • High-risk drivers with multiple at-fault accidents could be charged and average of $1,820 more per year than a driver with a clean driving record
  • Increasing comprehensive and collision deductibles can save approximately $725 each year

Rates by Driver Age

Hyundai Ioniq 5 Insurance Rates by Driver Age
Driver Age Premium
16 $5,590
20 $3,592
30 $1,640
40 $1,556
50 $1,418
60 $1,392

Full coverage, $500 deductibles

Rates by Deductible

Hyundai Ioniq 5 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,028
$250 $1,808
$500 $1,556
$1,000 $1,314

Full coverage, driver age 40

Rates by Liability Limit

Hyundai Ioniq 5 Insurance Rates with Different Liability Limits
Liability Limit Premium
30/60 $1,556
50/100 $1,627
100/300 $1,715
250/500 $1,945
100 CSL $1,662
300 CSL $1,857
500 CSL $1,999

Full coverage, driver age 40

Rates for High Risk Drivers

Hyundai Ioniq 5 Insurance Rates for High Risk Drivers
Age Premium
16 $8,034
20 $5,718
30 $3,468
40 $3,374
50 $3,216
60 $3,188

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.

SR-22 Surcharge $221

Potential Rate Discounts

If you qualify for discounts, you may save the amounts shown below.

Discount Savings
Multi-policy $85
Multi-vehicle $81
Homeowner $21
5-yr Accident Free $123
5-yr Claim Free $103
Paid in Full/EFT $78
Advance Quote $81
Online Quote $114
Total Discounts $686
Rate after discounts $870

Discounts are estimated and may not be available from every company or in every state.

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