Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
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UPDATED: Mar 28, 2024
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The average auto insurance rates for a Hyundai Ioniq 5 are $1,524 annually including full coverage. Comprehensive insurance costs around $356, collision insurance costs $668, and liability is $364. Liability-only coverage costs around $416 a year, and high-risk coverage costs $3,310 or more. Teens cost the most to insure at up to $5,510 a year.
Average premium for full coverage: $1,524
Policy rates for type of insurance:
Rate estimates include $500 comprehensive and collision deductibles, split liability limits of 30/60, and includes medical/PIP and uninsured motorist coverage. Prices are averaged for all 50 U.S. states and for different Ioniq 5 trim levels.
Price Range Variability
For the normal driver, Hyundai Ioniq 5 insurance rates range from as cheap as $416 for liability-only coverage to a much higher rate of $3,310 for coverage for higher-risk drivers.
Urban vs. Rural Price Range
Choosing to live in a large city can make a big difference on the price of insurance. Areas with sparse population are shown to have fewer comprehensive and collision claims than cities with more traffic congestion. The price range example below illustrates how geographic area affects auto insurance rates.
The examples above highlight why anyone shopping for car insurance should compare rates quotes for a specific zip code 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.
Additional Charts and Tables
The chart below breaks down average Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The cheapest rate after discounts is $857
- Raising to $1,000 deductibles will save about $232 every year
- The estimated rate for a good driver age 40 using $500 deductibles is $1,524
- Selecting more expensive low deductibles costs an additional $454 annually
- Drivers with serious driving violations could pay at least $3,310
- Policy cost with full coverage for a 16-year-old driver with full coverage can be $5,510
Insurance rates for a Hyundai Ioniq 5 also range considerably based on the model year and trim level, your driving characteristics, and deductibles and policy limits.
An older driver with no violations or accidents and high physical damage deductibles may pay as low as $1,400 every 12 months on average, or $117 per month, for full coverage. Rates are much higher for teenagers, where even without any violations or accidents they should be prepared to pay as much as $5,500 a year. View Rates by Age
If you have a few points on your driving record or you caused a few accidents, you are likely paying at least $1,800 to $2,500 additional every year, depending on your age. High-risk driver insurance is expensive and can cost from 45% to 132% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles can reduce rates by up to $690 annually, while increasing your policy's liability limits will increase rates. Changing from a 50/100 bodily injury limit to a 250/500 limit will raise rates by up to $327 more each year. View Rates by Deductible or Liability Limit
Your home state also has a big influence on Hyundai Ioniq 5 insurance prices. A middle-age driver might find rates as low as $1,170 a year in states like Missouri, New Hampshire, and Vermont, or have to pay at least $2,170 on average in Michigan, New York, and Louisiana.
| 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
Finding cheaper rates on insurance for a Hyundai Ioniq 5 consists of having a decent driving record, having good credit, paying for small claims out-of-pocket, and deciding if full coverage is necessary. Invest the time to compare rates at least once a year by getting quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
The following items are a brief recap of the primary concepts that were presented in the illustrations above.
- You may be able to save up to $190 per year just by shopping early and online
- Drivers considered higher risk who tend to receive serious violations may pay on average $1,790 more every year than a driver with a clean driving record
- Increasing comprehensive and collision deductibles could save up to $675 each year
- 16 to 18-year-old drivers are charged the highest rates, with premiums being up to $459 each month if they have full coverage
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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