Hyundai Ioniq 5 Insurance Rates

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Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Mar 28, 2024

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The average insurance rates for a Hyundai Ioniq 5 are $1,556 a year for full coverage. Comprehensive insurance costs approximately $368 a year, collision insurance costs $698, and liability is estimated at $354. Liability-only coverage costs approximately $406 a year, and high-risk coverage costs $3,374 or more. 16-year-old drivers cost the most to insure at up to $5,590 a year.

Average premium for full coverage: $1,556

Policy rates by type of insurance:

Comprehensive $368
Collision $698
Liability $354

Prices are based on $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes uninsured/under-insured motorist coverage. Prices are averaged for all states and Ioniq 5 trim levels.

Price Range Variability

For the normal driver, Hyundai Ioniq 5 insurance rates range from as low as $406 for your basic liability-only policy to a high of $3,374 for a high-risk insurance policy.

Liability Only $406
Full Coverage $1,556
High Risk $3,374

Urban vs. Rural Price Range

Living in a larger city can make a big difference on car insurance rates. Rural locations are shown to have a lower frequency of accident claims than congested cities. The diagram below illustrates how geographic area affects auto insurance prices.

Rural Areas $1,167
Small Cities $1,634
Large Cities $2,101

The examples above show why it is important to get quotes using their specific location and risk profile, instead of making a decision based 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 shows average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.

  • The best full coverage rate is $870
  • Choosing higher $1,000 deductibles can save $1,314 a year
  • The average rate for a good driver age 40 who chooses $500 deductibles is $1,556
  • Buying low $100 deductibles for comp and collision coverage will cost an extra $472 annually
  • Higher-risk drivers with multiple tickets or accidents could pay around $3,374
  • Policy cost for full coverage for a 16-year-old driver can cost $5,590 each year

View Chart as Image

Hyundai Ioniq 5 insurance cost comparison chart
Column chart showing Hyundai Ioniq 5 insurance prices range from $870 to $5,590 for full coverage

Insurance rates for a Hyundai Ioniq 5 also range considerably based on your risk profile, the trim level of your Ioniq 5, and physical damage deductibles and liability limits.

Older drivers with no violations or accidents and high deductibles may pay as low as $1,400 annually on average, or $117 per month, for full coverage. Rates are highest for teenagers, where even good drivers should be prepared to pay in the ballpark of $5,500 a year. View Rates by Age

Your home state plays a big part in determining prices for Hyundai Ioniq 5 insurance prices. A good driver about age 40 could pay as low as $1,030 a year in states like Iowa, Maine, and Idaho, or at least $2,220 on average in New York, Louisiana, and Michigan.

Hyundai Ioniq 5 Insurance Rates by State
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%

View Chart as Image

Hyundai Ioniq 5 insurance rates by U.S. city

Opting for high physical damage deductibles can save as much as $720 annually, while buying higher liability limits will push rates upward. Going from a 50/100 limit to a 250/500 limit will raise rates by up to $318 more each year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you could be paying anywhere from $1,800 to $2,500 additional every year, depending on your age. A high-risk auto insurance policy ranges from 45% to 129% more than the average rate. View High Risk Driver Rates

Hyundai Ioniq 5 Insurance Rates by Model Year
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 Find Affordable Hyundai Ioniq 5 Insurance

Finding cheaper rates on insurance for a Hyundai Ioniq 5 takes having a decent driving record, having a good credit history, avoid buying unnecessary coverage, and consideration of higher deductibles. Invest the time to compare rates at least every other year by getting quotes from direct carriers like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.

The following items are a brief review of the car insurance concepts presented in the illustrations above.

  • Drivers considered higher risk with DUI or reckless driving convictions may pay on average $1,820 more per year than a driver with a clean driving record
  • Drivers can save around $200 per year just by quoting early and online
  • Increasing comprehensive and collision deductibles can save around $725 each year
  • Insureds who purchase additional liability coverage will pay around $390 each year to raise limits from a 30/60 limit to 250/500 limits

Rates by Driver Age

Hyundai Ioniq 5 Insurance 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

Hyundai Ioniq 5 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,028
$250 $1,808
$500 $1,556
$1,000 $1,314

Full coverage, driver age 40

Rates by Liability Limit

Hyundai Ioniq 5 Insurance Rates with Different Liability Limits
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

Hyundai Ioniq 5 Insurance 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.

SR-22 Surcharge $221

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
Rate after discounts $870

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

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