Hyundai Ioniq 5 Insurance Rates

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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 for full coverage insurance. Comprehensive costs an estimated $356 a year, collision costs $668, and liability coverage is estimated at $364. Buying just liability costs approximately $416 a year, with insurance for high-risk drivers costing around $3,310. Teenage drivers pay the highest rates at $5,510 a year or more.

Average premium for full coverage: $1,524

Price estimates broken down by individual coverage:

Comprehensive $356
Collision $668
Liability $364

These estimates include $500 deductible amounts, 30/60 bodily injury liability limits, and includes both medical and uninsured motorist insurance. Estimates are averaged for all 50 states and Ioniq 5 trim levels.

Price Range from Low to High

Using a 40-year-old driver as an example, Hyundai Ioniq 5 insurance prices go from the cheapest price of $416 for minimum levels of liability insurance to a high of $3,310 for a driver who requires high-risk insurance.

Liability Only $416
Full Coverage $1,524
High Risk $3,310

Geographic Price Range

Living in a larger city has a large influence on the price of insurance. More rural locations have more infrequent physical damage claims than densely populated cities.

The diagram below illustrates how rural and urban location affects insurance prices.

Rural Areas $1,143
Small Cities $1,600
Large Cities $2,057

The ranges above illustrate why it is important to get quotes for a targeted area and their own driving history, rather than using average rates.

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

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Additional Rate Details

The chart below illustrates estimated Hyundai Ioniq 5 insurance rates for other coverage scenarios.

  • The best discount rate is $857
  • Choosing higher $1,000 deductibles can save approximately $1,292 each year
  • The average price for the average middle-age driver who has $500 deductibles is $1,524
  • Using low $100 deductibles for comp and collision coverage increases the price to $1,978
  • Drivers who are prone to accidents and violations could pay up to $3,310 or more
  • The price to insure a teenage driver can cost as much as $5,510 each year

View Chart as Image

Hyundai Ioniq 5 insurance cost comparison chart
Column chart showing full coverage Hyundai Ioniq 5 insurance rates range from $857 to $5,510

Insurance prices for a Hyundai Ioniq 5 are also quite variable based on deductibles and policy limits, your risk profile, and the model year and trim level.

Using high physical damage deductibles can save as much as $690 a year, while buying higher liability limits will increase premiums. Switching from a 50/100 liability limit to a 250/500 limit will increase prices by as much as $327 more each year. View Rates by Deductible or Liability Limit

Older drivers with no violations or accidents and higher deductibles may only pay around $1,400 annually on average for full coverage. Prices are much higher for teenage drivers, since even excellent drivers should be prepared to pay at least $5,500 a year. View Rates by Age

If you have some driving violations or you were responsible for an accident, you are probably paying $1,800 to $2,500 additional each year, depending on your age. A high-risk auto insurance policy ranges around 45% to 132% more than a normal policy. View High Risk Driver Rates

The state you live in plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $990 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,060 on average in Florida, New York, and Michigan.

Hyundai Ioniq 5 Insurance Rates by State
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%

View Chart as Image

Hyundai Ioniq 5 insurance rates by U.S. city

Since prices can be so different, the only way to figure out which car insurance is cheapest is to get quotes and see how they stack up. Each auto insurer uses a different method to calculate prices, and prices may be quite different.

Hyundai Ioniq 5 Insurance Rates by Model Year
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 Cheap Hyundai Ioniq 5 Insurance

Getting lower rates on auto insurance takes having a good driving record, having above-average credit, not filing small claims, and maximizing policy discounts. Set aside time to shop around at every other renewal by requesting rates from direct insurance companies like Progressive, GEICO, and Esurance, and also from insurance agencies where you live.

The next list is a brief summary of the concepts that were raised in the charts and tables above.

  • Drivers that tend to have accidents or serious violations could be forced to pay on average $1,790 more annually to buy Hyundai Ioniq 5 insurance
  • Drivers age 20 and younger are expensive to insure, as much as $459 a month if full coverage is included
  • It is possible to save approximately $190 per year simply by quoting early and online
  • Increasing physical damage deductibles could save as much as $675 each year
  • It is possible to save approximately $190 per year simply by quoting early and online

Rates by Driver Age

Hyundai Ioniq 5 Insurance 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

Hyundai Ioniq 5 Insurance Rates with Different Deductibles
Deductible Premium
$100 $1,978
$250 $1,766
$500 $1,524
$1,000 $1,292

Full coverage, driver age 40

Rates by Liability Limit

Hyundai Ioniq 5 Insurance Rates with Different Liability Limits
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

Hyundai Ioniq 5 Insurance 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.

SR-22 Surcharge $216

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
Rate after discounts $857

Discounts are estimated and may not be available from every company or in every state.

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