Hyundai Ioniq 5 Insurance Rates

The average insurance rates for a Hyundai Ioniq 5 are $1,556 a year for full coverage. Comprehensive costs an estimated $368 each year, collision insurance costs $698, and liability insurance costs around $354. Liability-only coverage costs as low as $406 a year, and high-risk coverage 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 broken down by type of insurance:

Rates are based on $500 policy deductibles, liability coverage up to 30/60, and includes UM/UIM and medical coverage. Prices are averaged for all states and Ioniq 5 models.

Price Range Variability

Urban vs. Rural Price Range

Where you live has a significant impact on insurance rates. More rural locations are shown to have a lower frequency of accident claims than larger metro areas. The graphic below illustrates how geographic area affects insurance prices.

The examples above show why all drivers should compare prices for a targeted area and risk profile, rather than relying on price averages.

Use the form below to get customized rates for your location.

Rates by State, City, and Model

The chart below shows average Hyundai Ioniq 5 insurance rates for other coverage scenarios.

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

View Chart as Image

Insurance rates for a Hyundai Ioniq 5 also range considerably based on your risk profile, the trim level of your Ioniq 5, and liability limits and deductibles.

More mature drivers with no violations or accidents and high deductibles could pay as little as $1,400 a year, or $117 per month, for full coverage. Rates are highest for teenagers, where even good drivers should be prepared to pay at least $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 $1,030 a year in states like Iowa, Maine, and Idaho, or as much as $2,220 on average in New York, Louisiana, and Michigan.

View Chart as Image

Choosing high deductibles could cut rates by as much as $720 each year, whereas increasing liability limits will increase premiums. Going from a 50/100 limit to a 250/500 limit will raise rates by up to $318 more each year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you could be paying $1,800 to $2,500 additional every year, depending on your age. Insurance for high-risk drivers can be anywhere from 45% to 129% more than average. View High Risk Driver Rates

How to Find the Best Cheap Hyundai Ioniq 5 Insurance

Finding cheaper rates on Hyundai Ioniq 5 insurance requires being a good driver, having a good credit history, avoid buying unnecessary coverage, and possibly raising deductibles. Invest the time to compare rates every time your policy renews by getting quotes from direct carriers like GEICO, Progressive, and Esurance, and also from local independent and exclusive agents.

The following list is a quick review of the information presented in the illustrations above.

• Drivers can save approximately $200 per year just by quoting online in advance
• Drivers age 16 to 20 are expensive to insure, costing up to $466 each month including comprehensive and collision insurance
• Increasing comprehensive and collision deductibles can save around $725 each year
• High-risk drivers with a DUI or reckless driving violation pay an average of $1,820 more annually than a safer driver
• Drivers who want an increased level of liability coverage will pay about $390 each year to increase from a 30/60 limit to 250/500 limits