Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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Average insurance prices for a Hyundai Ioniq 5 are $1,556 every 12 months including full coverage. Comprehensive costs approximately $368 each year, collision costs $698, and liability coverage is estimated at $354. Buying just liability costs approximately $406 a year, with insurance for high-risk drivers costing around $3,374. Teens receive the highest rates at $5,590 a year or more.
Average premium for full coverage: $1,556
Rate estimates by individual coverage type:
Prices include $500 physical damage insurance deductibles, 30/60 split liability limits, and includes medical and uninsured motorist coverage. Rates are averaged for all 50 U.S. states and Ioniq 5 models.
Price Range by Coverage and Risk
For the average driver, prices range go from the cheapest price of $406 for just liability coverage to a high rate of $3,374 for a high-risk insurance policy.
Price Range by Location
Living in a larger city has a large influence on car insurance prices. Rural locations tend to have more infrequent comprehensive and collision claims than cities with more traffic congestion.
The graphic below illustrates how location impacts auto insurance prices.
These examples highlight why all drivers should get quotes using their specific location and their own driving history, rather than using 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.
Detailed Rate Analysis
The chart below breaks down estimated Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The cheapest rate after discounts is $870
- Choosing higher $1,000 deductibles can save $242 every year
- The average price for a 40-year-old driver who chooses $500 deductibles is $1,556
- Selecting low deductibles for comp and collision coverage increases the price to $2,028
- Drivers with serious driving violations could pay around $3,374 or more
- The cost to insure a teenage driver can cost $5,590 each year
Auto insurance rates for a Hyundai Ioniq 5 can also vary considerably based on policy deductibles and limits, your driving characteristics, and the model of your Ioniq 5.
Choosing higher comprehensive and collision insurance deductibles can save as much as $720 a year, whereas increasing liability limits will push rates upward. Changing from a 50/100 liability limit to a 250/500 limit will cost as much as $318 extra every year. View Rates by Deductible or Liability Limit
More mature drivers with a good driving record and higher deductibles may only pay around $1,400 annually on average for full coverage. Rates are much higher for teen drivers, since even excellent drivers will have to pay in the ballpark of $5,500 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you are likely paying anywhere from $1,800 to $2,500 in extra premium per year, depending on your age. Insurance for high-risk drivers ranges around 45% to 129% more than the average policy. View High Risk Driver Rates
Where you live plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $1,190 a year in states like Vermont, New Hampshire, and Missouri, or have to pay at least $2,220 on average in Louisiana, New York, and Michigan.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,406 | -$150 | -9.6% |
| Alaska | $1,192 | -$364 | -23.4% |
| Arizona | $1,290 | -$266 | -17.1% |
| Arkansas | $1,556 | -$0 | 0.0% |
| California | $1,774 | $218 | 14.0% |
| Colorado | $1,484 | -$72 | -4.6% |
| Connecticut | $1,598 | $42 | 2.7% |
| Delaware | $1,760 | $204 | 13.1% |
| Florida | $1,944 | $388 | 24.9% |
| Georgia | $1,436 | -$120 | -7.7% |
| Hawaii | $1,116 | -$440 | -28.3% |
| Idaho | $1,054 | -$502 | -32.3% |
| Illinois | $1,158 | -$398 | -25.6% |
| Indiana | $1,172 | -$384 | -24.7% |
| Iowa | $1,050 | -$506 | -32.5% |
| Kansas | $1,476 | -$80 | -5.1% |
| Kentucky | $2,122 | $566 | 36.4% |
| Louisiana | $2,302 | $746 | 47.9% |
| Maine | $960 | -$596 | -38.3% |
| Maryland | $1,284 | -$272 | -17.5% |
| Massachusetts | $1,240 | -$316 | -20.3% |
| Michigan | $2,700 | $1,144 | 73.5% |
| Minnesota | $1,302 | -$254 | -16.3% |
| Mississippi | $1,864 | $308 | 19.8% |
| Missouri | $1,382 | -$174 | -11.2% |
| Montana | $1,670 | $114 | 7.3% |
| Nebraska | $1,224 | -$332 | -21.3% |
| Nevada | $1,864 | $308 | 19.8% |
| New Hampshire | $1,120 | -$436 | -28.0% |
| New Jersey | $1,740 | $184 | 11.8% |
| New Mexico | $1,376 | -$180 | -11.6% |
| New York | $1,636 | $80 | 5.1% |
| North Carolina | $896 | -$660 | -42.4% |
| North Dakota | $1,274 | -$282 | -18.1% |
| Ohio | $1,072 | -$484 | -31.1% |
| Oklahoma | $1,594 | $38 | 2.4% |
| Oregon | $1,426 | -$130 | -8.4% |
| Pennsylvania | $1,484 | -$72 | -4.6% |
| Rhode Island | $2,074 | $518 | 33.3% |
| South Carolina | $1,410 | -$146 | -9.4% |
| South Dakota | $1,312 | -$244 | -15.7% |
| Tennessee | $1,360 | -$196 | -12.6% |
| Texas | $1,874 | $318 | 20.4% |
| Utah | $1,150 | -$406 | -26.1% |
| Vermont | $1,062 | -$494 | -31.7% |
| Virginia | $932 | -$624 | -40.1% |
| Washington | $1,200 | -$356 | -22.9% |
| West Virginia | $1,426 | -$130 | -8.4% |
| Wisconsin | $1,074 | -$482 | -31.0% |
| Wyoming | $1,384 | -$172 | -11.1% |
With so much variability in rates, the best way to figure out who has the best auto insurance rates is to do a rate comparison and see how they stack up. Each auto insurer calculates rates differently, and quoted rates can be significantly different.
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Hyundai Ioniq 5 | $398 | $720 | $332 | $1,586 |
| 2023 Hyundai Ioniq 5 | $382 | $714 | $338 | $1,570 |
| 2022 Hyundai Ioniq 5 | $368 | $698 | $354 | $1,556 |
| 2021 Hyundai Ioniq 5 | $356 | $668 | $364 | $1,524 |
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 the Right Hyundai Ioniq 5 Insurance
Saving money on auto insurance takes being a low-risk driver, having a good credit score, not filing small claims, and not having any coverage lapses. Spend time shopping around at least every other year by requesting quotes from direct car insurance companies like GEICO, Progressive, and Esurance, and also from your local car insurance providers.
The items below are a quick rundown of the car insurance concepts touched on above.
- Drivers with reckless driving or DUI convictions could be charged and average of $1,820 more per year to insure their Ioniq 5
- You may be able to save around $200 per year simply by quoting online in advance
- Increasing deductibles could save as much as $725 each year
- Consumers who purchase more liability coverage will pay approximately $390 per year to raise limits from a minimum limit to a 250/500 level
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $5,590 |
| 20 | $3,592 |
| 30 | $1,640 |
| 40 | $1,556 |
| 50 | $1,418 |
| 60 | $1,392 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,028 |
| $250 | $1,808 |
| $500 | $1,556 |
| $1,000 | $1,314 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,556 |
| 50/100 | $1,627 |
| 100/300 | $1,715 |
| 250/500 | $1,945 |
| 100 CSL | $1,662 |
| 300 CSL | $1,857 |
| 500 CSL | $1,999 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,034 |
| 20 | $5,718 |
| 30 | $3,468 |
| 40 | $3,374 |
| 50 | $3,216 |
| 60 | $3,188 |
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 | $85 |
| Multi-vehicle | $81 |
| Homeowner | $21 |
| 5-yr Accident Free | $123 |
| 5-yr Claim Free | $103 |
| Paid in Full/EFT | $78 |
| Advance Quote | $81 |
| Online Quote | $114 |
| Total Discounts | $686 |
Discounts are estimated and may not be available from every company or in every state.
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