Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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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...
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UPDATED: Mar 28, 2024
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Estimated insurance rates for a Hyundai Ioniq 5 are $1,524 a year including full coverage. Comprehensive insurance costs an estimated $356, collision insurance costs $668, and liability is estimated at $364. A policy with only liability insurance costs approximately $416 a year, and a high-risk policy costs $3,310 or more. 16-year-old drivers pay the most at up to $5,510 a year.
Average premium for full coverage: $1,524
Premium estimates broken down by type of coverage:
Full coverage includes $500 physical damage insurance deductibles, 30/60 liability coverage, and includes both medical and UM/UIM coverage. Rates include averaging for all 50 U.S. states and for all Ioniq 5 models.
Insurance Price Range by Risk and Coverage
Using a middle-aged driver as an example, insurance rates for a Hyundai Ioniq 5 range from as low as $416 for basic liability insurance to the much higher price of $3,310 for a policy for a high-risk driver.
Insurance Price Range by Location
Living in a larger city can make a big difference on the price of auto insurance. More rural locations are statistically proven to have a lower frequency of comprehensive and collision claims than congested cities. The example below illustrates how where you live affects insurance prices.
These rate differences highlight why everyone should get quotes for a targeted area and risk profile, 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.
Rate Comparisons
The chart below breaks down average Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The best full coverage rate is $857
- Choosing higher $1,000 deductibles can save approximately $232 every year
- The average rate for a 40-year-old good driver who has $500 deductibles is $1,524
- Buying pricier low deductibles for comp and collision coverage will cost an extra $454 annually
- Higher-risk drivers with multiple tickets or accidents could pay up to $3,310
- An auto insurance policy for full coverage for a 16-year-old driver for full coverage can cost as much as $5,510 each year
Car insurance prices for a Hyundai Ioniq 5 also have a wide range based on your driving characteristics, the model of your Ioniq 5, and liability limits and deductibles.
A more mature driver with no driving violations and high deductibles may pay as low as $1,400 annually on average, or $117 per month, for full coverage. Prices are highest for drivers in their teens, where even good drivers will be charged at least $5,500 a year. View Rates by Age
Where you choose to live plays a big part in determining prices for Hyundai Ioniq 5 insurance prices. A good driver about age 40 could pay as low as $1,170 a year in states like Vermont, New Hampshire, and Missouri, or 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% |
Opting for high physical damage deductibles can save as much as $690 annually, whereas buying more liability protection will increase premiums. Changing from a 50/100 limit to a 250/500 limit will cost up to $327 extra every 12 months. View Rates by Deductible or Liability Limit
If you have a few violations or tend to cause accidents, you are likely paying $1,800 to $2,500 extra annually, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers ranges from 45% to 132% more than the average rate. View High Risk Driver Rates
| 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 Find More Affordable Hyundai Ioniq 5 Insurance
Finding better rates on insurance for a Hyundai Ioniq 5 takes being a low-risk driver, having above-average credit, refrain from filing small claims, and possibly higher deductibles. Take the time to comparison shop every year by getting rate quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
The items below are a summary of the coverage data touched on in the above illustrations.
- You may be able to save approximately $190 per year just by quoting online well ahead of the renewal date
- Increasing policy deductibles can save around $675 each year
- Teen drivers have the highest car insurance prices, with the cost nearing $459 per month if full coverage is included
- Drivers considered higher risk who have multiple accidents or major violations may pay on average $1,790 more annually to insure their Ioniq 5
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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