Hyundai Ioniq 5 Insurance Rates

Average insurance rates for a Hyundai Ioniq 5 are $1,556 a year for full coverage. Comprehensive costs around $368, collision insurance costs $698, and liability is estimated at $354. Buying just liability costs approximately $406 a year, and insurance for high-risk drivers costs around $3,374. 16-year-old drivers receive the highest rates at up to $5,590 a year.

Average premium for full coverage: $1,556

Rate estimates for individual coverage type:

Price estimates include $500 deductible amounts, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Rates are averaged for all states and for all Ioniq 5 models.

Price Range by Coverage and Risk

Price Range by Location

Living in a larger city can have significant affects on auto insurance rates. Areas with sparse population tend to have a lower frequency of accident claims than congested cities. The example below illustrates the difference location can make on auto insurance rates.

These examples show why everyone should get quotes for a specific zip code and risk profile, instead of using rate averages.

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

Additional Charts and Tables

The chart below shows average Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.

• The best full coverage rate is $870
• Choosing higher $1,000 deductibles can save about $242 a year
• The average rate for a 40-year-old driver using $500 deductibles is $1,556
• Buying pricier low deductibles for comp and collision coverage will increase the cost to $2,028
• Unlucky drivers with multiple tickets or accidents could pay at least $3,374
• The cost for full coverage for a teen driver for full coverage can be $5,590 each year

View Chart as Image

Auto insurance rates for a Hyundai Ioniq 5 can also vary considerably based on your driver profile, the trim level of your Ioniq 5, and deductibles and policy limits.

A more mature driver with a good driving record and high deductibles may pay as little as $1,400 annually on average for full coverage. Rates are highest for teen drivers, where even good drivers will have to pay as much as $5,500 a year. View Rates by Age

Where you 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 $1,030 a year in states like Idaho, Maine, and Iowa, or at least $2,220 on average in Michigan, Louisiana, and New York.

View Chart as Image

Opting for high physical damage deductibles can save as much as $720 every year, whereas buying more liability protection will increase rates. Going from a 50/100 limit to a 250/500 limit will cost as much as $318 extra every year. View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you could be paying at least $1,800 to $2,500 in extra premium per year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers ranges as much as 45% to 129% more than the average rate. View High Risk Driver Rates

How to Find Cheaper Hyundai Ioniq 5 Insurance

Saving money on car insurance takes having a good driving record, having good credit, eliminating unneeded coverage, and possibly raising deductibles. Make time to compare rates at least once a year by requesting quotes from direct carriers like GEICO and Progressive, and also from local insurance agents.

The next list is a condensed summary of the primary concepts that were touched on in this article.

• Drivers can save up to $200 per year just by quoting online well ahead of the renewal date
• Higher risk drivers with multiple at-fault accidents may be required to pay an average of $1,820 more every year to buy Hyundai Ioniq 5 insurance
• Increasing deductibles can save around $725 each year
• Drivers age 20 and younger are expensive to insure, costing as high as $466 per month if they have full coverage