How much is insurance on a Hyundai Ioniq 5?
A 2024 Hyundai Ioniq 5 runs about $1,950 a year for a typical 45-year-old, about the same as an average 2024 car: pricier repairs and fewer at-fault claims about even out.
2024 Hyundai Ioniq 5, national average
about $1,950 a year (about $165 a month)
roughly $1,300–$3,000
An average 2024 car: about $1,940. An older Hyundai Ioniq 5 costs less (below).
Priced: the 2024 Ioniq 5 Long range AWD (the newest year our claims data covers), a 45-year-old, clean record, full coverage. Each state moves every car's price by the same share. How we got these.
A used Hyundai Ioniq 5, by model year
| Model year | Full coverage | Liability only | Adding a teen | Teen on their own policy |
|---|---|---|---|---|
| 2024 (0–3 years old) | about $1,950 | about $910 | +$1,290 | about $5,610 |
| 2022 (4–7 years old) | about $1,830 | about $910 | +$1,210 | about $5,250 |
We list the Hyundai Ioniq 5 for 2022–2027. How much a car's age takes off is our own estimate.
The 3 versions of the 2024 Hyundai Ioniq 5 we list (Ioniq 5 Long range RWD, Ioniq 5 Standard range RWD and Ioniq 5 Long range AWD) all come out within about $50 of each other.
The Hyundai Ioniq 5 for other drivers on their own policy, a year: 22–25, $2,540; 26–39, $2,170; 65 and older, $2,050.
Adding a 16-year-old with a Hyundai Ioniq 5
A new 16-year-old driving the Hyundai Ioniq 5 adds about $1,290 a year ($110 a month), about the same as with an average car.
For adding a teen, the Hyundai Ioniq 5 ranks 49th most expensive of our 121 car pages.
That's the whole household's bill going up. Cheapest cars to insure for a teen.
Why the Hyundai Ioniq 5 costs what it does
Its insurance claims against an average car's (HLDI):
- Repairs
- much higher than average
- Theft and weather
- higher than average
- Damage to others
- about average
- Injuries to others
- much lower than average
The part that fixes or replaces the Hyundai Ioniq 5: about $1,050, against $950 for an average 2024 car (10% more). The part that pays for harm to others: about $910, against $990 for an average car (8% less).
By the EPA's size classes it's a small SUV, and it's electric. The Highway Loss Data Institute groups it with small SUVs.
- Expensive and electric cars can cost more or less to insure than their repair records suggest.
- This car's repair claims run a bit above the cars we could check against real prices, so the range reaches higher.
Matched to “Hyundai IONIQ 5 electric 4dr 4WD” in HLDI's results.
Similar small SUVs
Among these 26 small SUVs, the Hyundai Ioniq 5 is the 5th most expensive to insure.
- 2024 Chevrolet Traxabout $1,900 (about the same)
- 2024 Kia Seltosabout $1,910 (about the same)
- 2024 Buick Envistaabout $1,920 (about the same)
- 2024 Ford Escapeabout $1,930 (about the same)
- 2024 Hyundai Ioniq 5about $1,950 (this car)
- 2024 Kia Sportageabout $2,010 (about the same)
- 2024 Kia EV6about $2,030 ($80 more)
- 2024 Jeep Compassabout $2,040 ($90 more)
- 2024 Mitsubishi Outlanderabout $2,070 ($120 more)
Both start from your own situation if you've set one. For crash safety, see IIHS and NHTSA ratings.
This is an estimate to help you plan, not a quote. We don't sell insurance, and we never pass your info to anyone. Only an insurer can give you a real price.