Hyundai Ioniq 5 Insurance Rates
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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 including full coverage. Comprehensive costs approximately $356 a year, collision costs $668, and liability insurance is $364. Liability-only coverage costs around $416 a year, with high-risk coverage costing around $3,310. Teens 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:
Rate estimates include $500 policy deductibles, 30/60 liability coverage, and includes UM/UIM and medical coverage. Prices are averaged for all 50 U.S. states and Ioniq 5 trim levels.
Price Range Variability
Using a 40-year-old driver as an example, Hyundai Ioniq 5 insurance rates go from the cheapest price of $416 for a discount liability-only rate to a high of $3,310 for a policy for a high-risk driver.
Urban vs. Rural Price Range
Choosing to live in a large city has a significant impact on car insurance prices. Rural locations are shown to have more infrequent comprehensive and collision claims than cities with more traffic congestion.
The diagram below illustrates how rural and urban location affects auto insurance prices.
The examples above highlight why it is important to compare rates quotes using their specific location and their own driving history, rather than relying on averaged prices.
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 breaks down estimated Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The cheapest rate after discounts is $857
- Raising to $1,000 deductibles will save $1,292 every year
- The average price for a good driver age 40 who chooses $500 deductibles is $1,524
- Selecting low $100 deductibles increases the price to $1,978
- Higher-risk drivers with serious driving violations could pay around $3,310 or more
- Policy cost to insure a teen driver can cost $5,510
Insurance rates for a Hyundai Ioniq 5 also range considerably based on liability limits and deductibles, your driving characteristics, and the model of your Ioniq 5.
Choosing higher comprehensive and collision insurance deductibles can reduce rates by up to $690 each year, while buying higher liability limits will push rates upward. Changing from a 50/100 liability limit to a 250/500 limit will raise rates by up to $327 more each year. View Rates by Deductible or Liability Limit
Older drivers with no violations or accidents and higher deductibles could pay as little as $1,400 every 12 months on average, or $117 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers should be prepared 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 are likely paying anywhere from $1,800 to $2,500 additional every year, depending on your age. A high-risk auto insurance policy is expensive and can cost anywhere from 45% to 132% more than the average policy. View High Risk Driver Rates
Your home state also has a big influence on Hyundai Ioniq 5 insurance rates. A middle-age driver might find rates as low as $1,170 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,170 on average in Louisiana, 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% |
Because rates have so much variability, the best way to figure out who has the best auto insurance rates is to get quotes from as many companies as possible. Every auto insurance company calculates rates differently, and 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 the Best Hyundai Ioniq 5 Insurance
Finding cheaper rates on Hyundai Ioniq 5 insurance consists of being safe and accident-free, having above-average credit, paying for small claims out-of-pocket, and qualifying for all possible discounts. Set aside time to shop around every year by getting quotes from direct car insurance companies, and also from your local car insurance providers.
Below you'll find a brief recap of the coverage data raised in the charts and tables above.
- You may be able to save around $190 per year simply by quoting early and online
- Increasing comprehensive and collision deductibles could save as much as $675 each year
- Youthful drivers are the costliest to insure, with premiums being up to $459 each month if full coverage is included
- High-risk drivers who tend to receive serious violations could be charged and average of $1,790 more per year than a low-risk driver
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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