Hyundai Ioniq 5 Insurance Rates
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UPDATED: Mar 28, 2024
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U.S. average insurance rates for a Hyundai Ioniq 5 are $1,556 a year including full coverage. Comprehensive insurance costs an estimated $368 each year, collision costs $698, and liability coverage costs $354. Liability-only coverage costs as little as $406 a year, with high-risk coverage costing $3,374 or more. Teenage drivers pay the highest rates at $5,590 a year or more.
Average premium for full coverage: $1,556
Price estimates broken down by individual coverage:
Prices include $500 comprehensive and collision deductibles, liability coverage up to 30/60, and includes uninsured/under-insured motorist coverage. Estimates are averaged for all 50 U.S. states and Ioniq 5 models.
Price Range from Low to High
For the normal driver, Hyundai Ioniq 5 insurance prices go from the low end price of $406 for your basic liability-only policy to a high rate of $3,374 for a high-risk driver policy.
Geographic Price Range
Your location has a large influence on the price of auto insurance. More rural locations have lower incidents of comprehensive and collision claims than densely populated cities.
The graphic below illustrates how geographic area affects insurance prices.
The ranges above highlight why all drivers should compare rates for a targeted area, rather than using 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.
More Rate Information
The chart below breaks down estimated Hyundai Ioniq 5 insurance rates for other coverage scenarios.
- The best discount rate is $870
- Drivers who choose higher $1,000 deductibles will pay approximately $242 every year
- The estimated price for the average middle-age driver who has $500 deductibles is $1,556
- Using low deductibles for comprehensive and collision insurance will cost an additional $472 each year
- High-risk insureds who are prone to accidents and violations could pay up to $3,374 or more
- The price that insures a teenage driver can cost as much as $5,590 a year
Auto insurance prices for a Hyundai Ioniq 5 are also quite variable based on the trim level and model year, your driving record and age, and liability limits and deductibles.
If you have some driving violations or you caused an accident, you are likely paying $1,800 to $2,500 in extra premium each year, depending on your age. Insurance for high-risk drivers can cost around 45% to 129% more than a normal policy. View High Risk Driver Rates
More mature drivers with a good driving record and higher comprehensive and collision deductibles may only pay around $1,400 per year on average for full coverage. Prices are much higher for teenage drivers, since even teens with perfect driving records will have to pay at least $5,500 a year. View Rates by Age
The state you live in makes a big difference in Hyundai Ioniq 5 insurance rates. A 40-year-old driver could pay as low as $1,190 a year in states like Vermont, New Hampshire, and Missouri, or be forced to pay as much as $2,220 on average in Louisiana, 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% |
Using high physical damage deductibles could save up to $720 a year, whereas increasing liability limits will increase premiums. Changing from a 50/100 bodily injury protection limit to a 250/500 limit will increase prices by as much as $318 extra every year. View Rates by Deductible or Liability Limit
Since prices can be so different, the best way to figure out which car insurance is cheapest is to do a rate comparison and see how they stack up. Every company uses a different method to calculate prices, and quoted prices may be quite different.
| 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 Find the Right Hyundai Ioniq 5 Insurance
Getting lower rates on auto insurance not only requires avoiding accidents and violations, but also maintaining a good credit score, being claim-free, and qualifying for all possible discounts. Compare prices every time your policy renews by obtaining price quotes from direct car insurance companies, and also from your local car insurance providers.
The list below is a quick rundown of the information presented in the illustrations above.
- You may be able to save approximately $200 per year simply by quoting online in advance
- Teenagers are the costliest to insure, possibly costing $466 a month if the policy includes full coverage
- Increasing physical damage deductibles can save approximately $725 each year
- Drivers with reckless driving or DUI convictions could be charged and average of $1,820 more annually for car insurance
- Consumers who want higher liability limits will pay an extra $390 per year to go from a low limit to the 250/500 level
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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