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 including full coverage. Comprehensive costs approximately $356, collision insurance costs $668, and liability insurance costs $364. A policy with only liability insurance costs as little as $416 a year, and a high-risk policy costs around $3,310. 16-year-old drivers pay the most at up to $5,510 a year.
Average premium for full coverage: $1,524
Premium estimates by type of coverage:
Rate estimates include $500 physical damage insurance deductibles, liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Rates include averaging for all 50 U.S. states and for different Ioniq 5 trim levels.
Insurance Price Range by Risk and Coverage
For a driver in their 40's, insurance rates for a Hyundai Ioniq 5 range from the low end price of $416 for your basic liability-only policy to a much higher rate of $3,310 for a driver that may need high-risk insurance.
Insurance Price Range by Location
Your location has a significant impact on car insurance prices. Rural locations are statistically proven to have lower incidents of comprehensive and collision claims than congested cities. The price range example below illustrates how location helps determine auto insurance prices.
These rate differences highlight why anyone shopping for car insurance should compare rates using their specific location, rather than relying 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.
More Rate Information
The chart below breaks down average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $857
- Drivers who choose higher $1,000 deductibles will pay $232 every year
- The estimated price for a 40-year-old good driver who chooses $500 deductibles is $1,524
- Buying more expensive low deductibles for comprehensive and collision insurance bumps up the cost to $1,978
- High risk drivers with multiple tickets or accidents could pay around $3,310
- An auto insurance policy that insures a teen driver with full coverage can cost $5,510 a year
Car insurance prices for a Hyundai Ioniq 5 also have a wide range based on the model year and trim level, your driving record and age, and physical damage deductibles and liability limits.
If you have a few violations or you caused an accident, you are likely paying anywhere from $1,800 to $2,500 extra annually, depending on your age. High-risk driver insurance can cost anywhere from 45% to 132% more than the average rate. View High Risk Driver Rates
An older driver with no driving violations and higher comprehensive and collision deductibles could pay as little as $1,400 per year on average, or $117 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records will be charged in the ballpark of $5,500 a year. View Rates by Age
Where you choose to live makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay as low as $1,170 a year in states like Vermont, New Hampshire, and Missouri, or at least $2,170 on average in Louisiana, New York, 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% |
Opting for high physical damage deductibles could save up to $690 each year, while increasing your policy's liability limits will push prices upward. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $327 extra every 12 months. View Rates by Deductible or Liability Limit
| 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 Best Hyundai Ioniq 5 Insurance
Finding better rates on Hyundai Ioniq 5 insurance not only requires being a low-risk driver, but also having a positive credit history, refrain from filing small claims, and attention to physical damage deductibles. Comparison shop once a year by getting rate quotes from direct car insurance companies, and also from local auto insurance providers.
The items below are a brief recap of the data that was covered in the charts and tables above.
- You may be able to save around $190 per year just by shopping early and online
- Drivers who purchase more liability coverage will pay around $400 per year to go from 30/60 bodily injury limits to the 250/500 level
- Teen drivers pay the highest auto insurance prices, with the cost nearing $459 per month if full coverage is purchased
- High-risk drivers who tend to receive serious violations will likely pay on average $1,790 more per year to insure their Ioniq 5
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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