Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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Michelle Robbins has been a licensed insurance agent for over 13 years. Her career began in the real estate industry, supporting local realtors with Title Insurance. After several years, Michelle shifted to real estate home warranty insurance, where she managed a territory of over 100 miles of real estate professionals. Later, Agent Robbins obtained more licensing and experience serving families a...
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UPDATED: Mar 28, 2024
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Estimated auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually for full coverage. Comprehensive insurance costs approximately $356, collision insurance costs $668, and liability costs around $364. A liability-only policy costs as low as $416 a year, and high-risk insurance costs $3,310 or more. Teens pay the most at up to $5,510 a year.
Average premium for full coverage: $1,524
Premium estimates by type of coverage:
Estimates include $500 comprehensive and collision deductibles, 30/60 liability limits, and includes uninsured/under-insured motorist coverage. Rates include averaging for all states and for different Ioniq 5 trim levels.
Insurance Price Range by Risk and Coverage
For a 40-year-old driver, insurance rates for a Hyundai Ioniq 5 range from as cheap as $416 for your basic liability-only policy to a much higher rate of $3,310 for a driver required to buy high-risk insurance.
Insurance Price Range by Location
Where you live can make a big difference on car insurance rates. Rural locations are statistically proven to have fewer accident claims than cities with more traffic congestion. The price range example below illustrates how your location can change auto insurance prices.
These rate differences show why anyone shopping for car insurance should compare prices using their specific location and their own personal driving habits, instead of making a decision based on averaged prices.
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.
More Rate Information
The chart below shows average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The cheapest rate after discounts is $857
- Using higher $1,000 deductibles will save $232 a year
- The estimated rate for a 40-year-old good driver who chooses $500 deductibles is $1,524
- Selecting more expensive low deductibles for physical damage coverage costs an additional $454 annually
- High-risk insureds with serious driving violations could pay around $3,310
- An auto insurance policy with full coverage for a 16-year-old driver with full coverage can cost $5,510 or more
Auto insurance prices for a Hyundai Ioniq 5 also have a wide range based on the model of your Ioniq 5, your driver profile, and physical damage deductibles and liability limits.
An older driver with a good driving record and high physical damage deductibles may pay as low as $1,400 a year, or $117 per month, for full coverage. Prices are much higher for drivers in their teens, where even without any violations or accidents they will have to pay in the ballpark of $5,500 a year. View Rates by Age
If you have a few violations or you caused a few accidents, you could be paying anywhere from $1,800 to $2,500 in extra premium annually, depending on your age. High-risk driver insurance can be from 45% to 132% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $690 annually, while increasing your policy's liability limits will push prices upward. Going from a 50/100 bodily injury limit to a 250/500 limit will cost up to $327 extra every year. View Rates by Deductible or Liability Limit
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 Iowa, Maine, and Idaho, or have to pay at least $2,170 on average in New York, Louisiana, and Michigan.
| 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% |
| 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 Buy Low Cost Hyundai Ioniq 5 Insurance
Finding better rates on insurance for a Hyundai Ioniq 5 requires avoiding accidents and violations, having above-average credit, not filing small claims, and possibly higher deductibles. Invest the time to shop around at every policy renewal by getting rate quotes from direct carriers, and also from several local insurance agents.
The list below is a review of the data illustrated above.
- Insureds who purchase higher liability limits will pay approximately $400 each year to increase from 30/60 bodily injury limits to higher 250/500 limits
- Drivers can save around $190 per year just by shopping early and online
- Increasing policy deductibles could save up to $675 each year
- Teenagers have the highest car insurance prices, as much as $459 per month if full coverage is included
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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