Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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U.S. average insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months with full coverage. Comprehensive insurance costs approximately $356, collision costs $668, and liability coverage costs $364. A policy with just liability insurance costs as little as $416 a year, with coverage for high-risk drivers costing $3,310 or more. 16-year-old drivers pay the highest rates at $5,510 a year or more.
Average premium for full coverage: $1,524
Price estimates by individual coverage:
Prices include $500 policy deductibles, 30/60 bodily injury liability limits, and includes both medical and uninsured motorist insurance. Estimates are averaged for all U.S. states and for different Ioniq 5 trim levels.
Price Range from Low to High
For the average driver, Hyundai Ioniq 5 insurance prices go from the cheapest price of $416 for minimum levels of liability insurance to a much higher rate of $3,310 for a driver who requires high-risk insurance.
Geographic Price Range
Your location has a large influence on the price of insurance. Rural locations have more infrequent collision claims than congested cities.
The price range example below illustrates how location impacts auto insurance prices.
The ranges above demonstrate why anyone shopping for car insurance should compare rates using their specific location and their own driving history, rather than using 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.
Additional Rate Details
The chart below details estimated Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $857
- Drivers who choose higher $1,000 deductibles will pay $232 annually
- The average price for the average middle-age driver who chooses $500 deductibles is $1,524
- Buying more expensive low deductibles for comprehensive and collision insurance costs an extra $454 each year
- High-risk insureds with multiple tickets or accidents could pay around $3,310 or more
- The price to insure a teenage driver with full coverage can cost $5,510 a year
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on deductibles and policy limits, your driving record, and the model of your Ioniq 5.
Opting for high physical damage deductibles could save up to $690 a year, while increasing your policy's liability limits will push prices upward. Moving from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $327 more per year. View Rates by Deductible or Liability Limit
An older driver with a clean driving record and higher deductibles may only pay around $1,400 per year on average for full coverage. Prices are highest for teenage drivers, since even excellent drivers can expect to pay in the ballpark of $5,500 a year. View Rates by Age
If you have some driving violations or you were responsible for an accident, you may be forking out anywhere from $1,800 to $2,500 extra each year, depending on your age. High-risk driver insurance can cost around 45% to 132% more than the average rate. View High Risk Driver Rates
The state you live in makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay as low as $1,100 a year in states like Utah, Ohio, and New Hampshire, or at least $2,060 on average in New York, Michigan, and Florida.
| 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% |
Since prices can be so different, the best way to find out who has the cheapest auto insurance prices is to compare prices and see how they stack up. Every company utilizes a different rate formula, so the prices may be quite different.
| 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 Right Hyundai Ioniq 5 Insurance
Getting lower rates on auto insurance not only requires avoiding accidents and claims, but also having good credit, avoid buying unnecessary coverage, and maximizing policy discounts. Spend time shopping around at every other renewal by obtaining price quotes from direct companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.
The points below are a quick rundown of the concepts that were touched on above.
- Drivers with reckless driving or DUI convictions could be forced to pay on average $1,790 more per year to insure a Hyundai Ioniq 5
- Drivers under the age of 20 are expensive to insure, costing up to $459 a month if they have full coverage
- You may be able to save around $190 per year simply by shopping early and online
- Increasing physical damage deductibles could save as much as $675 each year
- You may be able to save around $190 per year simply by shopping early and online
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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