Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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Average auto insurance rates for a Hyundai Ioniq 5 are $1,556 annually for full coverage insurance. Comprehensive insurance costs approximately $368 each year, collision insurance costs $698, and liability costs around $354. Buying just liability costs as low as $406 a year, and insurance for high-risk drivers costs $3,374 or more. 16-year-old drivers receive the highest rates at up to $5,590 a year.
Average premium for full coverage: $1,556
Rate estimates by individual coverage type:
Rates are based on $500 policy deductibles, 30/60 split liability limits, and includes medical/PIP and uninsured motorist coverage. Rates are averaged for all 50 states and Ioniq 5 models.
Price Range by Coverage and Risk
For a driver in their 40's, prices range range from as cheap as $406 for liability-only coverage to a high rate of $3,374 for a high-risk insurance policy.
Price Range by Location
Where you live can have significant affects on the price of auto insurance. Rural locations tend to have fewer physical damage claims than congested cities. The graphic below illustrates how location helps determine auto insurance prices.
These examples illustrate why all drivers should compare prices using their specific location and their own personal driving habits, instead of using rate 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 best full coverage rate is $870
- Using higher $1,000 deductibles will save $242 each year
- The estimated rate for a 40-year-old driver who chooses $500 deductibles is $1,556
- Buying low deductibles for physical damage coverage costs an additional $472 every year
- Drivers with multiple tickets or accidents could pay around $3,374
- The cost with full coverage for a teen driver can cost $5,590 or more
Auto insurance rates for a Hyundai Ioniq 5 can also vary considerably based on the trim level of your Ioniq 5, your risk profile, and physical damage deductibles and liability limits.
More mature drivers with a good driving record and high physical damage deductibles may pay as little as $1,400 a year for full coverage. Rates are highest for teen drivers, where even without any violations or accidents they will have to pay in the ballpark of $5,500 a year. View Rates by Age
If you like to drive fast or you caused a few accidents, you are probably paying anywhere from $1,800 to $2,500 in extra premium per year, depending on your age. Insurance for high-risk drivers can be as much as 45% to 129% more than the average rate. View High Risk Driver Rates
Opting for high physical damage deductibles could cut rates by as much as $720 every year, whereas increasing liability limits will push rates upward. Switching from a 50/100 bodily injury limit to a 250/500 limit will cost as much as $318 extra every year. View Rates by Deductible or Liability Limit
Where you live has a huge impact on Hyundai Ioniq 5 insurance prices. A driver around age 40 might see rates as low as $1,020 a year in states like North Carolina, Wisconsin, and Vermont, or at least $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% |
| 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 Cheap Hyundai Ioniq 5 Insurance
Saving money on car insurance requires avoiding accidents and claims, having above-average credit, avoid buying unnecessary coverage, and possibly higher deductibles. Invest time comparing rates at least every other year by requesting quotes from direct insurance companies like Progressive and GEICO, and also from insurance agencies where you live.
The points below are a quick review of the car insurance concepts covered in the charts and tables above.
- Higher risk drivers with a DUI or reckless driving violation could be forced to pay on average $1,820 more per year to insure a Hyundai Ioniq 5
- It is possible to save around $200 per year just by quoting online in advance
- Increasing deductibles could save up to $725 each year
- Policyholders who purchase increased liability limits will pay around $390 annually to increase from a minimum limit to higher 250/500 limits
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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