Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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The average insurance rates for a Hyundai Ioniq 5 are $1,524 a year for full coverage insurance. Comprehensive insurance costs on average $356, collision costs $668, and liability costs around $364. Liability-only insurance costs as low as $416 a year, with high-risk driver insurance costing $3,310 or more. 16-year-old drivers 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:
Estimates include $500 policy deductibles, 30/60 bodily injury liability limits, and includes UM/UIM and medical coverage. Prices are averaged for all 50 states and for different Ioniq 5 trim levels.
Price Range Variability
For the average 40-year-old driver, Hyundai Ioniq 5 insurance rates go from as low as $416 for a discount liability-only rate to a much higher rate of $3,310 for a driver who requires high-risk insurance.
Urban vs. Rural Price Range
Where you live can make a big difference on insurance rates. Rural areas are shown to have a lower frequency of physical damage claims than congested cities.
The price range example below illustrates the difference location can make on car insurance rates.
The examples above illustrate why anyone shopping for car insurance should compare prices based on a specific location 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.
Rates by State, City, and Model
The chart below illustrates estimated Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.
- The best full coverage rate is $857
- Using higher $1,000 deductibles will save around $232 each year
- The average rate for a good driver age 40 with $500 deductibles is $1,524
- Buying more expensive low deductibles for physical damage coverage will cost an extra $454 annually
- High-risk insureds with multiple tickets or accidents could pay upwards of $3,310 or more
- Policy cost for full coverage for a 16-year-old driver with full coverage may cost $5,510 or more
Auto insurance rates for a Hyundai Ioniq 5 also range considerably based on your risk profile, the model year and trim level, and policy deductibles and limits.
An older driver with a good driving record and high deductibles may pay as low as $1,400 a year, or $117 per month, for full coverage. Rates are highest for teenagers, where even good drivers will have to pay upwards of $5,500 a year. View Rates by Age
Your home state has a huge impact on Hyundai Ioniq 5 insurance prices. A driver around age 40 might see rates as low as $990 a year in states like Vermont, Wisconsin, and North Carolina, or at least $2,060 on average in Michigan, New York, 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% |
Opting for high physical damage deductibles could cut rates by as much as $690 annually, while increasing your policy's liability limits will cost you more. Switching from a 50/100 limit to a 250/500 limit will raise rates by up to $327 extra every year. View Rates by Deductible or Liability Limit
If you have a few points on your driving record or tend to cause accidents, you are probably paying at a minimum $1,800 to $2,500 in extra premium every year, depending on your age. High-risk driver insurance can be from 45% to 132% more than the average rate. View High Risk Driver Rates
Because rates have so much variability, the only way to figure out exactly what you will pay is to compare rates from multiple companies. Each insurance company utilizes a different rate formula, and quoted rates will be varied from one company to the next.
| 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 Low Cost Hyundai Ioniq 5 Insurance
Finding cheaper rates on insurance for a Hyundai Ioniq 5 requires avoiding accidents and claims, having good credit, being claim-free, and taking advantage of discounts. Make time to compare rates at every other renewal by getting quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from local independent and exclusive agents.
The points below are a review of the concepts that were touched on in this article.
- Drivers considered higher risk who have several accidents or serious violations pay an average of $1,790 more each year to insure a Hyundai Ioniq 5
- Drivers under the age of 20 are charged the highest rates, possibly costing $459 each month if they have full coverage
- It is possible to save as much as $190 per year simply by shopping early and online
- Increasing comprehensive and collision deductibles can save around $675 each year
- It is possible to save as much as $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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