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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The average insurance prices for a Hyundai Ioniq 5 are $1,524 every 12 months including full coverage. Comprehensive costs approximately $356, collision costs $668, and liability costs $364. Liability-only insurance costs as little as $416 a year, with high-risk driver insurance costing around $3,310. 16-year-old drivers 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:
Includes $500 policy deductibles, bodily injury liability limits of 30/60, and includes both medical and UM/UIM coverage. Prices are averaged for all 50 U.S. states and for different Ioniq 5 trim levels.
Price Range Variability
For the average driver, Hyundai Ioniq 5 insurance rates go from the cheapest price of $416 for basic liability insurance to a much higher rate of $3,310 for a driver who has had serious violations or accidents.
Urban vs. Rural Price Range
Your location can have significant affects on car insurance prices. Rural locations are shown to have more infrequent comprehensive and collision claims than congested cities.
The price range example below illustrates how location impacts auto insurance prices.
The examples above highlight why anyone shopping for car insurance should compare rates using their specific location and their own driving history, instead of using 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.
Rate Comparisons
The chart below breaks down estimated Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $857
- Drivers who choose higher $1,000 deductibles will pay $232 every year
- The average price for a good driver age 40 who chooses $500 deductibles is $1,524
- Buying more expensive low deductibles for comprehensive and collision insurance increases the price to $1,978
- Higher-risk drivers with multiple tickets or accidents could pay around $3,310 or more
- Policy cost to insure a teen driver with full coverage can cost $5,510 a year
Auto insurance rates for a Hyundai Ioniq 5 also range considerably based on liability limits and deductibles, your driving characteristics, and the model of your Ioniq 5.
Opting for high physical damage deductibles could save up to $690 every year, while increasing your policy's liability limits will push rates upward. Changing from a 50/100 liability limit to a 250/500 limit will raise rates by up to $327 extra every year. View Rates by Deductible or Liability Limit
An older driver with a good driving record and higher deductibles may pay as little as $1,400 per year on average, or $117 per month, for full coverage. Rates are highest for teenagers, since even excellent drivers will have to pay in the ballpark 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 are likely paying anywhere from $1,800 to $2,500 in extra premium every year, depending on your age. High-risk driver insurance can cost as much as 45% to 132% more than the average rate. View High Risk Driver Rates
Your home state makes a big difference in Hyundai Ioniq 5 insurance prices. A 40-year-old driver could pay as low as $1,170 a year in states like Vermont, New Hampshire, and Missouri, or at least $2,170 on average in Louisiana, New York, and Michigan.
| 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 best way to figure out who has the best auto insurance rates is to compare rates and see which company has the best rate. Every company utilizes a different rate formula, and quoted rates 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 the Cheapest Hyundai Ioniq 5 Insurance
Finding cheaper rates on car insurance not only requires being a good driver, but also having a good credit score, paying for small claims out-of-pocket, and not having any coverage lapses. Spend time shopping around every other policy renewal by getting rate quotes from direct car insurance companies, and also from your local car insurance providers.
The following list is a recap of the ideas that were touched on above.
- Drivers age 16 to 20 have the highest car insurance rates, with premiums being up to $459 each month if comprehensive and collision insurance is included
- Higher risk drivers that have major violations or accidents could be charged and average of $1,790 more per year than a safer driver
- Increasing comprehensive and collision deductibles could save as much as $675 each year
- You may be able to save around $190 per year simply by shopping early and online
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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