Hyundai Ioniq 5 Insurance Rates

Average insurance rates for a Hyundai Ioniq 5 are $1,556 a year with full coverage. Comprehensive costs around $368 each year, collision insurance costs $698, and liability costs $354. A liability-only policy costs as little as $406 a year, and high-risk insurance costs around $3,374. Teen drivers receive the highest rates at up to $5,590 a year.

Average premium for full coverage: $1,556

Rate estimates for individual coverage type:

Prices are based on $500 comprehensive and collision deductibles, 30/60 split liability limits, and includes uninsured/under-insured motorist coverage. Rates are averaged for all U.S. states and Ioniq 5 models.

Price Range by Coverage and Risk

Price Range by Location

Your location can make a big difference on insurance rates. Areas with sparse population tend to have a lower frequency of collision claims than larger metro areas. The graphic below illustrates the difference between rural and urban areas on auto insurance rates.

These examples demonstrate why all drivers should compare rates for a specific zip code and risk profile, instead of making a decision based on price averages.

Use the form below to get customized rates for your location.

More Rate Information

The chart below details average Hyundai Ioniq 5 insurance rates for additional coverage choices and driver risks.

• The lowest rate with discounts is $870
• Drivers who choose higher $1,000 deductibles will pay about $242 annually
• The average rate for a 40-year-old driver using $500 deductibles is $1,556
• Choosing low deductibles for comprehensive and collision insurance will increase the cost to $2,028
• Drivers with multiple violations and an at-fault accident could pay at least $3,374
• The cost for full coverage for a 16-year-old driver can be $5,590 a year

View Chart as Image

Insurance rates for a Hyundai Ioniq 5 can also vary considerably based on your driver profile, the trim level and model year, and deductibles and policy limits.

More mature drivers with a clean driving record and high deductibles may pay as low as $1,400 per year on average for full coverage. Rates are highest for teen drivers, where even good drivers can expect to pay as much as $5,500 a year. View Rates by Age

Where you live makes a big difference in Hyundai Ioniq 5 insurance prices. A 40-year-old driver could pay as low as $1,120 a year in states like New Hampshire, Ohio, and Utah, or as much as $2,100 on average in Florida, Michigan, and New York.

View Chart as Image

Choosing high deductibles could save up to $720 annually, whereas increasing liability limits will increase rates. Moving from a 50/100 limit to a 250/500 limit will cost as much as $318 more per year. View Rates by Deductible or Liability Limit

If you like to drive fast or tend to cause accidents, you may be forking out at least $1,800 to $2,500 extra per year, depending on your age. Insurance for high-risk drivers can cost from 45% to 129% more than average. View High Risk Driver Rates

How to Find Affordable Hyundai Ioniq 5 Insurance

Saving money on insurance for a Hyundai Ioniq 5 not only requires having a decent driving record, but also maintaining good credit, eliminating unnecessary coverage, and dropping full coverage on older vehicles. Set aside time to compare rates at least every other year by quoting rates from direct companies like GEICO and Progressive, and also from local independent and exclusive agents.

The following items are a brief review of the car insurance concepts covered above.

• Drivers considered higher risk with DUI or reckless driving convictions pay an average of $1,820 more every year than a driver with a clean driving record
• You may be able to save up to $200 per year just by quoting online in advance
• Increasing deductibles can save around $725 each year
• Insureds who may need additional liability coverage will pay about $390 every year to go from a minimum limit to 250/500 limits