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 insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months for full coverage. Comprehensive costs on average $356 a year, collision costs $668, and liability insurance is estimated at $364. A liability-only policy costs approximately $416 a year, with high-risk insurance costing around $3,310. Teens cost the most to insure at $5,510 a year or more.
Average premium for full coverage: $1,524
Policy rates by type of insurance:
Price estimates include $500 deductibles, liability limits of 30/60, and includes both medical and uninsured motorist insurance. Prices are averaged for all states and Ioniq 5 trim levels.
Price Range Variability
For the average driver, Hyundai Ioniq 5 insurance rates go from the cheapest price of $416 for minimum levels of liability insurance to a high of $3,310 for a driver that may need high-risk insurance.
Urban vs. Rural Price Range
Living in a larger city has a significant impact on car insurance rates. Rural areas are shown to have more infrequent accident claims than cities with more traffic congestion.
The diagram below illustrates how location impacts car insurance rates.
The examples above show why it is important to get quotes based on a specific location and their own driving history, rather than relying 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 Rate Details
The chart below shows estimated Hyundai Ioniq 5 insurance rates for different risk profiles and scenarios.
- The cheapest rate after discounts is $857
- Choosing higher $1,000 deductibles can save around $1,292 a year
- The average price for a good driver age 40 with $500 deductibles is $1,524
- Selecting low $100 deductibles for comp and collision coverage increases the price to $1,978
- High-risk insureds with serious driving violations could pay upwards of $3,310 or more
- Policy cost to insure a teen driver may cost $5,510 each year
Car insurance rates for a Hyundai Ioniq 5 also range considerably based on liability limits and deductibles, your driver profile, and the trim level of your Ioniq 5.
Choosing higher comprehensive and collision insurance deductibles can save as much as $690 each year, while buying higher liability limits will cost you more. Going from a 50/100 liability limit to a 250/500 limit will raise rates by up to $327 extra every 12 months. View Rates by Deductible or Liability Limit
Older drivers with no driving violations and higher deductibles could pay as little as $1,400 annually on average, or $117 per month, for full coverage. Rates are much higher for teenagers, since even excellent drivers will be charged upwards of $5,500 a year. View Rates by Age
If you have a few points on your driving record or you were responsible for an accident, you could be paying at a minimum $1,800 to $2,500 extra every year, depending on your age. A high-risk auto insurance policy ranges anywhere from 45% to 132% more than the average policy. View High Risk Driver Rates
Your home state plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $1,010 a year in states like Idaho, Maine, and Iowa, or have to pay at least $2,170 on average in Michigan, Louisiana, and New York.
| 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% |
Because rates have so much variability, the only way to know exactly what you will pay is to get quotes from as many companies as possible. Each auto insurer calculates rates differently, so rate quotes will be varied.
| 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 Shop for Cheaper Hyundai Ioniq 5 Insurance
Finding cheaper rates on Hyundai Ioniq 5 insurance takes not taking risks behind the wheel, maintaining a good credit score, avoid buying unnecessary coverage, and maximizing policy discounts. Spend time shopping around once a year by requesting rates from direct carriers, and also from local independent and exclusive agents.
The following is a condensed summary of the data that was touched on above.
- Drivers can save as much as $190 per year simply by quoting early and online
- Drivers who require higher liability limits will pay approximately $400 each year to raise limits from a 30/60 limit to a 250/500 level
- Teens are expensive to insure, costing up to $459 each month if the policy includes full coverage
- High-risk drivers with multiple at-fault accidents pay an average of $1,790 more each year for Ioniq 5 insurance
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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