Hyundai Ioniq 5 Insurance Rates

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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:

Comprehensive $368
Collision $698
Liability $354

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.

Liability Only $406
Full Coverage $1,556
High Risk $3,374

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.

Rural Areas $1,167
Small Cities $1,634
Large Cities $2,101

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

View Chart as Image

Hyundai Ioniq 5 insurance cost comparison chart
Column chart showing full coverage Hyundai Ioniq 5 insurance rates range from $870 to $5,590

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.

Hyundai Ioniq 5 Insurance Rates by State
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%

View Chart as Image

Hyundai Ioniq 5 insurance rates by U.S. city

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.

Hyundai Ioniq 5 Insurance Rates by Model Year
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

Rates by Driver Age

Hyundai Ioniq 5 Insurance 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

Hyundai Ioniq 5 Insurance Rates with Different Deductibles
Deductible Premium
$100 $2,028
$250 $1,808
$500 $1,556
$1,000 $1,314

Full coverage, driver age 40

Rates by Liability Limit

Hyundai Ioniq 5 Insurance Rates with Different Liability Limits
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

Hyundai Ioniq 5 Insurance 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.

SR-22 Surcharge $221

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
Rate after discounts $870

Discounts are estimated and may not be available from every company or in every state.

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