Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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The average insurance rates for a Hyundai Ioniq 5 are $1,556 a year for full coverage insurance. Comprehensive costs approximately $368 each year, collision insurance costs $698, and liability coverage is $354. Liability-only insurance costs around $406 a year, and high-risk driver insurance costs around $3,374. Teenage drivers cost the most to insure at up to $5,590 a year.
Average premium for full coverage: $1,556
Policy rates by type of insurance:
Prices include $500 physical damage insurance deductibles, 30/60 split liability limits, and includes both medical and uninsured motorist insurance. Prices are averaged for all 50 states and Ioniq 5 models.
Price Range Variability
For the average 40-year-old driver, Hyundai Ioniq 5 insurance rates range from the low end price of $406 for minimum levels of liability insurance to a high rate of $3,374 for a high-risk insurance policy.
Urban vs. Rural Price Range
Choosing to live in a large city has a large influence on the price of auto insurance. Rural locations are shown to have lower incidents of physical damage claims than densely populated cities. The graphic below illustrates the difference location can make on auto insurance prices.
The examples above illustrate why all drivers should compare rates quotes using their specific location, rather than using average rates.
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 illustrates average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The best discount rate is $870
- Raising to $1,000 deductibles will save $242 each year
- The estimated price for a good driver age 40 who chooses $500 deductibles is $1,556
- Using low deductibles bumps up the cost to $2,028
- Unlucky drivers who are prone to accidents and violations could pay around $3,374
- Policy cost that insures a teenage driver can cost $5,590
Auto insurance rates for a Hyundai Ioniq 5 also range considerably based on the trim level and model year, your age and driving record, and physical damage deductibles and liability limits.
If you have a few points on your driving record or you caused an accident, you are probably paying anywhere from $1,800 to $2,500 in extra premium every year, depending on your age. Insurance for high-risk drivers is expensive and can cost around 45% to 129% more than a normal policy. View High Risk Driver Rates
More mature drivers with a good driving record and higher comprehensive and collision deductibles may only pay around $1,400 every 12 months on average, or $117 per month, for full coverage. Rates are much higher for teenagers, since even teens with perfect driving records will have to pay in the ballpark of $5,500 a year. View Rates by Age
Your home state also has a big influence on Hyundai Ioniq 5 insurance rates. A middle-age driver might find rates as low as $1,020 a year in states like North Carolina, Wisconsin, and Vermont, or be forced to pay as much as $2,100 on average in Florida, New York, and Michigan.
| 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% |
Using high physical damage deductibles can reduce rates by up to $720 a year, whereas increasing liability limits will push rates upward. Switching from a 50/100 bodily injury protection limit to a 250/500 limit will raise rates by up to $318 extra every year. View Rates by Deductible or Liability Limit
| 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 Find the Right Hyundai Ioniq 5 Insurance
Finding cheaper rates on auto insurance consists of being a low-risk driver, maintaining a good credit score, being claim-free, and possibly higher deductibles. Compare prices at least every other year by requesting quotes from direct insurance companies, and also from your local car insurance providers.
The items below are a quick rundown of the car insurance concepts touched on in this article.
- Drivers with reckless driving or DUI convictions could be charged and average of $1,820 more per year to insure their Ioniq 5
- It is possible to save around $200 per year just by quoting online in advance
- Increasing comprehensive and collision deductibles can save approximately $725 each year
- Consumers who purchase more liability coverage will pay an extra $390 annually to raise from a 30/60 limit to the 250/500 level
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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