Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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Estimated insurance rates for a Hyundai Ioniq 5 are $1,570 a year including full coverage. Comprehensive costs an estimated $382, collision costs $714, and liability insurance is estimated at $338. Liability-only insurance costs approximately $394 a year, with high-risk driver insurance costing around $3,404. Teenage drivers pay the most at $5,606 a year or more.
Average premium for full coverage: $1,570
Premium estimates broken down by type of coverage:
Includes $500 physical damage insurance deductibles, liability coverage up to 30/60, and includes additional medical/uninsured motorist coverage. Rates include averaging for all 50 U.S. states and for all Ioniq 5 models.
Insurance Price Range by Risk and Coverage
For a 40-year-old driver, insurance rates for a Hyundai Ioniq 5 go from as low as $394 for just the minimum liability insurance to the much higher price of $3,404 for a high-risk driver policy.
Insurance Price Range by Location
Living in a larger city has a significant impact on the price of auto insurance. More rural locations are statistically proven to have a lower frequency of comprehensive and collision claims than densely populated cities.
The example below illustrates how your location can change insurance prices.
These rate differences highlight why everyone should get quotes for a targeted area and risk profile, rather than relying on 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 Analysis
The chart below breaks down estimated Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The best discount rate is $878
- Choosing higher $1,000 deductibles can save approximately $248 every year
- The average rate for a 40-year-old good driver who has $500 deductibles is $1,570
- Using pricier low deductibles for comp and collision coverage will increase the cost to $2,056
- High-risk insureds who are prone to accidents and violations could pay up to $3,404 or more
- An auto insurance policy for full coverage for a teen driver for full coverage can cost as much as $5,606 each year
Insurance prices for a Hyundai Ioniq 5 also have a wide range based on your driving characteristics, the model of your Ioniq 5, and liability limits and deductibles.
A more mature driver with no violations or accidents and high deductibles could pay as little as $1,500 annually on average, or $125 per month, for full coverage. Prices are much higher for drivers in their teens, where even good drivers should be prepared to pay at least $5,600 a year. View Rates by Age
Where you choose to live plays a big part in determining prices for Hyundai Ioniq 5 insurance rates. A good driver about age 40 could pay as low as $1,200 a year in states like Vermont, New Hampshire, and Missouri, or be forced to pay as much as $2,240 on average in Louisiana, 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% |
Using high physical damage deductibles can save as much as $740 each year, whereas buying more liability protection will increase premiums. Changing from a 50/100 limit to a 250/500 limit will cost up to $304 more each year. View Rates by Deductible or Liability Limit
If you have a few violations or tend to cause accidents, you are likely paying $1,900 to $2,500 additional annually, depending on your age. Hyundai Ioniq 5 insurance for high-risk drivers ranges anywhere from 45% to 135% more than a normal policy. View High Risk Driver Rates
With such a large range in prices, the best way to figure out which insurance company is cheapest is to regularly compare prices from as many companies as possible. Each auto insurer uses a different method to calculate prices, and prices will be substantially different from one company to the next.
| 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 Find the Cheapest Hyundai Ioniq 5 Insurance
Finding better rates on Hyundai Ioniq 5 insurance takes being a low-risk driver, having a good credit history, refrain from filing small claims, and maximizing policy discounts. Invest the time to shop around every time your policy renews by requesting quotes from direct car insurance companies like Progressive, GEICO, and Esurance, and also from your local independent and exclusive agents.
The items below are a recap of the information illustrated above.
- You may be able to save approximately $200 per year simply by quoting online well ahead of the renewal date
- Teen drivers are expensive to insure, with the cost nearing $467 per month including comprehensive and collision insurance
- Increasing policy deductibles can save around $725 each year
- High-risk drivers that have major violations or accidents may pay on average $1,830 more annually to insure their Ioniq 5
- Drivers who want more liability coverage will pay an extra $370 per year to raise limits from 30/60 bodily injury limits to 250/500 limits
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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