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 for full coverage. Comprehensive insurance costs around $356 each year, collision costs $668, and liability costs around $364. A liability-only policy costs as low as $416 a year, with high-risk insurance costing $3,310 or more. Teen drivers pay the most at $5,510 a year or more.
Average premium for full coverage: $1,524
Premium estimates for type of coverage:
Estimates include $500 deductible amounts, 30/60 bodily injury liability limits, and includes additional medical/uninsured motorist coverage. Rates include averaging for all states and Ioniq 5 models.
Insurance Price Range by Risk and Coverage
Using a 40-year-old driver as an example, insurance rates for a Hyundai Ioniq 5 go from the low end price of $416 for just the minimum liability insurance to a high rate of $3,310 for a driver who requires high-risk insurance.
Insurance Price Range by Location
Where you live can make a big difference on auto insurance rates. Areas with sparse population are statistically proven to have lower incidents of accident claims than larger metro areas.
The graphic below illustrates how rural and urban location affects auto insurance rates.
These rate differences show why all drivers should compare prices for a specific zip code, instead of making a decision based on 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 Analysis
The chart below shows estimated Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The lowest rate with discounts is $857
- Using higher $1,000 deductibles will save about $232 a year
- The estimated price for a 40-year-old good driver using $500 deductibles is $1,524
- Choosing low deductibles for physical damage coverage will cost an additional $454 annually
- High-risk insureds with multiple violations and an at-fault accident could pay at least $3,310 or more
- An auto insurance policy that insures a 16-year-old driver can be $5,510 or more
Auto insurance prices for a Hyundai Ioniq 5 also have a wide range based on the trim level and model year, how you drive, and deductibles and policy limits.
If you have a few violations or you caused an accident, you could be paying at least $1,800 to $2,500 in extra premium annually, depending on your age. Insurance for high-risk drivers can be from 45% to 132% more than average. View High Risk Driver Rates
More mature drivers with a good driving record and higher comprehensive and collision deductibles may pay as low as $1,400 a year, or $117 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records will have to pay as much as $5,500 a year. View Rates by Age
Where you choose to live has a huge impact on Hyundai Ioniq 5 insurance prices. A driver around age 40 might see prices as low as $1,010 a year in states like Idaho, Maine, and Iowa, or as much as $2,170 on average in Michigan, Louisiana, and New York.
| 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 could cut prices by as much as $690 annually, whereas increasing liability limits will increase prices. Going from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $327 extra every year. View Rates by Deductible or Liability Limit
With such a large range in prices, the only way to know your exact price is to do a rate comparison from multiple companies. Each insurance company uses a different rate calculation, and quoted prices will be substantially 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 Find Low Cost Hyundai Ioniq 5 Insurance
Finding better rates on insurance for a Hyundai Ioniq 5 requires having a good driving record, maintaining a good credit score, not filing small claims, and maximizing policy discounts. Shop around at every other renewal by getting quotes from direct carriers, and also from several local insurance agents.
The next list is a review of the concepts that were raised in the charts and tables above.
- Drivers considered higher risk who have several accidents or serious violations pay on average $1,790 more every year to buy Hyundai Ioniq 5 insurance
- Drivers age 20 and younger are expensive to insure, as much as $459 per month if the policy includes full coverage
- Drivers can save up to $190 per year simply by quoting online in advance
- Increasing policy deductibles can save approximately $675 each year
- Drivers can save up to $190 per year simply 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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