Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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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 with full coverage. Comprehensive costs approximately $356 each year, collision insurance costs $668, and liability is estimated at $364. Liability-only insurance costs approximately $416 a year, and high-risk driver insurance costs around $3,310. Teen drivers pay the most at up to $5,510 a year.
Average premium for full coverage: $1,524
Premium estimates by type of coverage:
Prices include $500 comprehensive and collision deductibles, bodily injury liability limits of 30/60, and includes both medical and uninsured motorist insurance. Rates include averaging for all U.S. states and Ioniq 5 models.
Insurance Price Range by Risk and Coverage
For a driver in their 40's, insurance rates for a Hyundai Ioniq 5 range from as low as $416 for minimum levels of liability insurance to a high rate of $3,310 for a driver who has had serious violations or accidents.
Insurance Price Range by Location
Living in a larger city can have significant affects on the price of insurance. Rural locations are statistically proven to have a lower frequency of collision claims than larger metro areas. The graphic below illustrates how location helps determine auto insurance prices.
These rate differences demonstrate why all drivers should get quotes using their specific location and risk profile, instead of using price 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 average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $857
- Choosing higher $1,000 deductibles can save $232 annually
- The average rate for a 40-year-old good driver who chooses $500 deductibles is $1,524
- Choosing low deductibles for comp and collision coverage will increase the cost to $1,978
- Unlucky drivers with multiple violations and an at-fault accident could pay around $3,310
- An auto insurance policy for full coverage for a teen driver can cost $5,510 each year
Insurance prices for a Hyundai Ioniq 5 also have a wide range based on your driving characteristics, the trim level and model year, and physical damage deductibles and liability limits.
More mature drivers with no violations or accidents and high deductibles may pay as little 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 should be prepared to pay in the ballpark of $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 $1,100 a year in states like Utah, Ohio, and New Hampshire, or as much as $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% |
Choosing high deductibles can save as much as $690 every year, whereas increasing liability limits will push prices upward. Moving from a 50/100 limit to a 250/500 limit will cost up to $327 more each year. View Rates by Deductible or Liability Limit
If you have a few violations or tend to cause accidents, you may be forking out anywhere from $1,800 to $2,500 additional annually, depending on your age. Insurance for high-risk drivers ranges as much as 45% to 132% more than average. 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 the Right Hyundai Ioniq 5 Insurance
Finding better rates on car insurance takes avoiding accidents and violations, having a good credit history, being claim-free, and consideration of higher deductibles. Invest time comparing rates every other policy renewal by obtaining price quotes from direct companies like Progressive, GEICO, and Esurance, and also from several local insurance agents.
The list below is a quick rundown of the ideas that were covered in the charts and tables above.
- Teenagers are the costliest to insure, possibly costing $459 per month including comprehensive and collision insurance
- Higher risk drivers with reckless driving or DUI convictions pay on average $1,790 more per year for car insurance
- Increasing policy deductibles can save around $675 each year
- You may be able to save around $190 per year just by quoting online in advance
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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