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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U.S. average auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually for full coverage insurance. Comprehensive costs on average $356, collision insurance costs $668, and liability is $364. A policy with just liability insurance costs around $416 a year, and coverage for high-risk drivers costs around $3,310. Teenage drivers pay the highest rates at up to $5,510 a year.
Average premium for full coverage: $1,524
Price estimates by individual coverage:
Rate estimates include $500 policy deductibles, bodily injury liability limits of 30/60, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all 50 states and for all Ioniq 5 models.
Price Range from Low to High
Using a middle-aged driver as an example, Hyundai Ioniq 5 insurance prices range from as cheap as $416 for your basic liability-only policy to the much higher price of $3,310 for a driver who has had serious violations or accidents.
Geographic Price Range
Choosing to live in a large city can have significant affects on insurance rates. Rural areas have fewer physical damage claims than densely populated cities. The example below illustrates how where you live affects car insurance rates.
The ranges above illustrate why everyone should compare rates quotes based on a specific location and their own personal driving habits, instead of using average rates.
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 illustrates average Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.
- The best discount rate is $857
- Raising to $1,000 deductibles will save around $232 each year
- The estimated rate for the average middle-age driver with $500 deductibles is $1,524
- Using pricier low deductibles will cost $1,978
- At-risk drivers who are prone to accidents and violations could pay upwards of $3,310
- The price with full coverage for a teen driver for full coverage may cost $5,510
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on the trim level and model year, your risk profile, and policy deductibles and limits.
A more mature driver with a clean driving record and high physical damage deductibles may pay as little as $1,400 every 12 months on average for full coverage. Prices are much higher for teenage drivers, where even without any violations or accidents they can expect to pay upwards of $5,500 a year. View Rates by Age
If you have some driving violations or you caused a few accidents, you are probably paying at a minimum $1,800 to $2,500 extra each year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers is expensive and can cost as much as 45% to 132% more than a normal policy. View High Risk Driver Rates
Using high physical damage deductibles can reduce prices by up to $690 every year, whereas buying more liability protection will cost you more. Switching from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $327 more per year. View Rates by Deductible or Liability Limit
The state you live in also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find prices as low as $990 a year in states like Vermont, Wisconsin, and North Carolina, or be forced to pay as much as $2,060 on average in Michigan, New York, and Florida.
| 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 the Best Hyundai Ioniq 5 Insurance
Getting lower rates on car insurance consists of avoiding accidents and claims, having a good credit history, not filing small claims, and determing if full coverage is necessary. Take the time to comparison shop every other policy renewal by requesting rates from direct insurance companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
The points below are a brief recap of the ideas that were touched on in the above illustrations.
- Drivers under the age of 20 pay the highest prices, as much as $459 a month including comprehensive and collision insurance
- Higher risk drivers who tend to receive serious violations may pay on average $1,790 more each year to insure a Hyundai Ioniq 5
- Increasing physical damage deductibles could save up to $675 each year
- It is possible to save as much as $190 per year just by quoting online well ahead of the renewal date
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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