Hyundai Ioniq 5 Insurance Rates
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Michelle Robbins
Licensed Insurance Agent
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...
Licensed Insurance Agent
UPDATED: Mar 28, 2024
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U.S. average auto insurance rates for a Hyundai Ioniq 5 are $1,556 annually with full coverage. Comprehensive costs around $368, collision costs $698, and liability insurance costs around $354. Buying just liability costs as low as $406 a year, with insurance for high-risk drivers costing around $3,374. Teens pay the highest rates at $5,590 a year or more.
Average premium for full coverage: $1,556
Price estimates for individual coverage:
Rate estimates include $500 comprehensive and collision deductibles, 30/60 liability limits, and includes additional medical/uninsured motorist coverage. Estimates are averaged for all U.S. states and for all Ioniq 5 models.
Price Range from Low to High
For an average driver, Hyundai Ioniq 5 insurance prices go from as cheap as $406 for just the minimum liability insurance to the much higher price of $3,374 for a driver required to buy high-risk insurance.
Geographic Price Range
Where you live has a significant impact on insurance rates. Areas with sparse population have fewer collision claims than cities with more traffic congestion.
The example below illustrates the effect of geographic area on auto insurance rates.
The ranges above demonstrate why everyone should compare prices for a specific zip code and their own personal driving habits, 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 Analysis
The chart below details estimated Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.
- The cheapest rate after discounts is $870
- Using higher $1,000 deductibles will save about $242 annually
- The estimated rate for the average middle-age driver using $500 deductibles is $1,556
- Selecting pricier low deductibles for physical damage coverage will cost $2,028
- Drivers with serious driving violations could pay at least $3,374 or more
- The price with full coverage for a teen driver for full coverage can be $5,590 or more
Insurance prices for a Hyundai Ioniq 5 are also quite variable based on the trim level and model year, your driving record, and deductibles and policy limits.
A more mature driver with no violations or accidents and high physical damage deductibles could pay as little as $1,400 a year for full coverage. Prices are much higher for teenage drivers, 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 some driving violations or you caused a few accidents, you may be forking out at least $1,800 to $2,500 additional each year, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers can be anywhere from 45% to 129% more than the average policy. View High Risk Driver Rates
Choosing higher comprehensive and collision insurance deductibles could cut prices by as much as $720 each year, whereas buying more liability protection will increase prices. Moving from a 50/100 bodily injury limit to a 250/500 limit will increase prices by as much as $318 more each year. View Rates by Deductible or Liability Limit
The state you live in has a huge impact on Hyundai Ioniq 5 insurance rates. A driver around age 40 might see prices as low as $1,120 a year in states like New Hampshire, Ohio, and Utah, or have to pay at least $2,100 on average in Florida, Michigan, and New York.
| 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% |
Since prices can be so different, the best way to find out your exact price is to regularly compare prices from as many companies as possible. Each insurance company calculates prices differently, and prices may be quite different between companies.
| 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 Buy the Best Hyundai Ioniq 5 Insurance
Getting lower rates on Hyundai Ioniq 5 insurance requires avoiding accidents and violations, having good credit, avoid buying unnecessary coverage, and taking advantage of discounts. Take the time to compare rates at every policy renewal by obtaining price quotes from direct companies like GEICO, Progressive, and Esurance, and also from local exclusive and independent agents.
The list below is a brief recap of the data covered in the above illustrations.
- Drivers who may need higher liability limits will pay approximately $390 every year to increase from a low limit to higher 250/500 limits
- You may be able to save up to $200 per year simply by quoting online well ahead of the renewal date
- Increasing physical damage deductibles could save up to $725 each year
- Teenagers are charged the highest prices, costing up to $466 a month if they have full coverage
Rate Tables and Charts
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
| Deductible | Premium |
|---|---|
| $100 | $2,028 |
| $250 | $1,808 |
| $500 | $1,556 |
| $1,000 | $1,314 |
Full coverage, driver age 40
Rates by Liability Limit
| 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
| 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.
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 |
Discounts are estimated and may not be available from every company or in every state.
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