Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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Average insurance prices for a Hyundai Ioniq 5 are $1,570 every 12 months for full coverage insurance. Comprehensive costs approximately $382, collision insurance costs $714, and liability coverage costs $338. A liability-only policy costs as little as $394 a year, and high-risk insurance costs around $3,404. Teen drivers receive the highest rates at up to $5,606 a year.
Average premium for full coverage: $1,570
Rate estimates by individual coverage type:
Rate estimates include $500 deductibles, 30/60 bodily injury liability limits, and includes medical/PIP and uninsured motorist coverage. Rates are averaged for all 50 states and for different Ioniq 5 trim levels.
Price Range by Coverage and Risk
For the normal driver, prices range range from the cheapest price of $394 for liability-only coverage to a much higher rate of $3,404 for a driver who requires high-risk insurance.
Price Range by Location
Your location has a large influence on the price of auto insurance. Rural locations tend to have more infrequent physical damage claims than larger metro areas. The price range example below illustrates how geographic area affects auto insurance prices.
These examples illustrate why anyone shopping for car insurance should compare rates using their specific location and their own driving history, rather than using price 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 Charts and Tables
The chart below illustrates average Hyundai Ioniq 5 insurance rates for additional coverage and risk scenarios.
- The lowest rate with discounts is $878
- Drivers who choose higher $1,000 deductibles will pay $248 each year
- The average price for a 40-year-old driver who chooses $500 deductibles is $1,570
- Choosing more expensive low deductibles for comprehensive and collision insurance increases the price to $2,056
- High-risk insureds with multiple violations and an at-fault accident could pay around $3,404
- The cost to insure a teenage driver with full coverage can cost $5,606 a year
Insurance rates for a Hyundai Ioniq 5 can also vary considerably based on policy deductibles and limits, your risk profile, and the model of your Ioniq 5.
Choosing high deductibles could save up to $740 a year, while increasing your policy's liability limits will push rates upward. Switching from a 50/100 liability limit to a 250/500 limit will cost as much as $304 more per year. View Rates by Deductible or Liability Limit
An older driver with a clean driving record and higher deductibles may only pay around $1,500 per year on average for full coverage. Rates are highest for teen drivers, since even excellent drivers can expect to pay in the ballpark of $5,600 a year. View Rates by Age
If you like to drive fast or you were responsible for an accident, you are probably paying anywhere from $1,900 to $2,500 extra per year, depending on your age. High-risk driver insurance can cost around 45% to 135% more than average. View High Risk Driver Rates
Where you live makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay as low as $1,030 a year in states like North Carolina, Wisconsin, and Vermont, or as much as $2,120 on average in Florida, New York, and Michigan.
| 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% |
| 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 Shop for the Best Hyundai Ioniq 5 Insurance
Saving money on auto insurance not only requires not taking risks behind the wheel, but also having good credit, avoid buying unnecessary coverage, and possibly raising deductibles. Invest the time to compare rates at every other renewal by obtaining price quotes from direct insurance companies like GEICO, Progressive, and Esurance, and also from local insurance agencies.
The following is a brief recap of the concepts that were presented in the illustrations above.
- Drivers who tend to receive serious violations may have to pay on average $1,830 more per year for Ioniq 5 insurance
- Teens are expensive to insure, costing up to $467 per month if they have full coverage
- It is possible to save around $200 per year just by shopping early and online
- Increasing deductibles could save as much as $725 each year
- It is possible to save around $200 per year just by shopping early and online
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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