Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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Estimated insurance rates for a Hyundai Ioniq 5 are $1,570 a year with full coverage. Comprehensive costs approximately $382, collision insurance costs $714, and liability costs around $338. Liability-only coverage costs as low as $394 a year, and high-risk coverage costs around $3,404. 16-year-old drivers pay the most at up to $5,606 a year.
Average premium for full coverage: $1,570
Premium estimates by type of coverage:
Estimates include $500 physical damage deductibles, liability coverage up to 30/60, and includes uninsured motorist and medical coverage. Rates include averaging for all U.S. states and for different Ioniq 5 trim levels.
Insurance Price Range by Risk and Coverage
For the average 40-year-old driver, insurance rates for a Hyundai Ioniq 5 range from the low end price of $394 for the bare minimum liability coverage to a much higher rate of $3,404 for a high-risk driver policy.
Insurance Price Range by Location
Where you live can have significant affects on the price of insurance. Rural locations are statistically proven to have lower incidents of collision claims than congested cities. The price range example below illustrates the difference location can make on auto insurance prices.
These rate differences demonstrate why anyone shopping for car insurance should compare prices using their specific location, 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.
Additional Rate Information
The chart below details average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The best full coverage rate is $878
- Using higher $1,000 deductibles will save $248 annually
- The estimated price for a 40-year-old good driver who chooses $500 deductibles is $1,570
- Buying more expensive low deductibles for physical damage coverage bumps up the cost to $2,056
- Drivers with multiple tickets or accidents could pay around $3,404
- An auto insurance policy that insures a teen driver with full coverage can cost $5,606 or more
Insurance prices for a Hyundai Ioniq 5 also have a wide range based on the model year and trim level, your age and driving habits, and physical damage deductibles and liability limits.
If you have a few violations or you caused an accident, you may be forking out anywhere from $1,900 to $2,500 extra annually, depending on your age. High-risk driver insurance can be as much as 45% to 135% more than the average rate. View High Risk Driver Rates
An older driver with a clean driving record and higher comprehensive and collision deductibles may pay as little as $1,500 a year, or $125 per month, for full coverage. Prices are highest for drivers in their teens, since even teens with perfect driving records can expect to pay in the ballpark of $5,600 a year. View Rates by Age
Where you choose to live has a huge impact on Hyundai Ioniq 5 insurance prices. A driver around age 40 might see prices as low as $1,130 a year in states like Utah, Ohio, and New Hampshire, or at least $2,120 on average in New York, Michigan, and Florida.
| State | Premium | Compared to U.S. Avg | Percent Difference |
|---|---|---|---|
| Alabama | $1,420 | -$150 | -9.6% |
| Alaska | $1,204 | -$366 | -23.3% |
| Arizona | $1,304 | -$266 | -16.9% |
| Arkansas | $1,570 | -$0 | 0.0% |
| California | $1,790 | $220 | 14.0% |
| Colorado | $1,498 | -$72 | -4.6% |
| Connecticut | $1,612 | $42 | 2.7% |
| Delaware | $1,776 | $206 | 13.1% |
| Florida | $1,964 | $394 | 25.1% |
| Georgia | $1,450 | -$120 | -7.6% |
| Hawaii | $1,130 | -$440 | -28.0% |
| Idaho | $1,064 | -$506 | -32.2% |
| Illinois | $1,168 | -$402 | -25.6% |
| Indiana | $1,186 | -$384 | -24.5% |
| Iowa | $1,058 | -$512 | -32.6% |
| Kansas | $1,490 | -$80 | -5.1% |
| Kentucky | $2,142 | $572 | 36.4% |
| Louisiana | $2,326 | $756 | 48.2% |
| Maine | $972 | -$598 | -38.1% |
| Maryland | $1,298 | -$272 | -17.3% |
| Massachusetts | $1,254 | -$316 | -20.1% |
| Michigan | $2,728 | $1,158 | 73.8% |
| Minnesota | $1,316 | -$254 | -16.2% |
| Mississippi | $1,882 | $312 | 19.9% |
| Missouri | $1,392 | -$178 | -11.3% |
| Montana | $1,686 | $116 | 7.4% |
| Nebraska | $1,236 | -$334 | -21.3% |
| Nevada | $1,884 | $314 | 20.0% |
| New Hampshire | $1,134 | -$436 | -27.8% |
| New Jersey | $1,754 | $184 | 11.7% |
| New Mexico | $1,390 | -$180 | -11.5% |
| New York | $1,652 | $82 | 5.2% |
| North Carolina | $906 | -$664 | -42.3% |
| North Dakota | $1,288 | -$282 | -18.0% |
| Ohio | $1,084 | -$486 | -31.0% |
| Oklahoma | $1,612 | $42 | 2.7% |
| Oregon | $1,440 | -$130 | -8.3% |
| Pennsylvania | $1,498 | -$72 | -4.6% |
| Rhode Island | $2,096 | $526 | 33.5% |
| South Carolina | $1,424 | -$146 | -9.3% |
| South Dakota | $1,326 | -$244 | -15.5% |
| Tennessee | $1,374 | -$196 | -12.5% |
| Texas | $1,894 | $324 | 20.6% |
| Utah | $1,162 | -$408 | -26.0% |
| Vermont | $1,072 | -$498 | -31.7% |
| Virginia | $940 | -$630 | -40.1% |
| Washington | $1,212 | -$358 | -22.8% |
| West Virginia | $1,440 | -$130 | -8.3% |
| Wisconsin | $1,084 | -$486 | -31.0% |
| Wyoming | $1,398 | -$172 | -11.0% |
Opting for high physical damage deductibles could cut prices by as much as $740 every year, while increasing your policy's liability limits will push prices upward. Moving from a 50/100 bodily injury protection limit to a 250/500 limit will cost up to $304 more per year. View Rates by Deductible or Liability Limit
| Model Year | Comprehensive | Collision | Liability | Total Premium |
|---|---|---|---|---|
| 2024 Hyundai Ioniq 5 | $418 | $750 | $316 | $1,620 |
| 2023 Hyundai Ioniq 5 | $398 | $720 | $332 | $1,586 |
| 2022 Hyundai Ioniq 5 | $382 | $714 | $338 | $1,570 |
| 2021 Hyundai Ioniq 5 | $368 | $698 | $354 | $1,556 |
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 Low Cost Hyundai Ioniq 5 Insurance
Finding better rates on car insurance requires being a safe and courteous driver, having above-average credit, being claim-free, and possibly raising deductibles. Comparison shop every time your policy renews by obtaining price quotes from direct companies, and also from local insurance agencies.
Below is a review of the information touched on in this article.
- You may be able to save around $200 per year just by shopping early and online
- Teenage drivers are expensive to insure, possibly costing $467 per month if full coverage is included
- Increasing policy deductibles can save approximately $725 each year
- Higher risk drivers who have several accidents or serious violations may have to pay on average $1,830 more per year for auto insurance
- Policyholders who purchase higher levels of liability will pay around $370 every year to increase from 30/60 bodily injury limits to the 250/500 level
Rate Tables and Charts
Rates by Driver Age
| Driver Age | Premium |
|---|---|
| 16 | $5,606 |
| 20 | $3,622 |
| 30 | $1,658 |
| 40 | $1,570 |
| 50 | $1,432 |
| 60 | $1,406 |
Full coverage, $500 deductibles
Rates by Deductible
| Deductible | Premium |
|---|---|
| $100 | $2,056 |
| $250 | $1,830 |
| $500 | $1,570 |
| $1,000 | $1,322 |
Full coverage, driver age 40
Rates by Liability Limit
| Liability Limit | Premium |
|---|---|
| 30/60 | $1,570 |
| 50/100 | $1,638 |
| 100/300 | $1,722 |
| 250/500 | $1,942 |
| 100 CSL | $1,671 |
| 300 CSL | $1,857 |
| 500 CSL | $1,993 |
Full coverage, driver age 40
Rates for High Risk Drivers
| Age | Premium |
|---|---|
| 16 | $8,062 |
| 20 | $5,764 |
| 30 | $3,502 |
| 40 | $3,404 |
| 50 | $3,242 |
| 60 | $3,216 |
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 | $86 |
| Multi-vehicle | $81 |
| Homeowner | $21 |
| 5-yr Accident Free | $125 |
| 5-yr Claim Free | $103 |
| Paid in Full/EFT | $79 |
| Advance Quote | $82 |
| Online Quote | $115 |
| Total Discounts | $692 |
Discounts are estimated and may not be available from every company or in every state.
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