Car insurance is an essential investment for drivers in Iowa and around the country, yet premium costs can differ drastically based on factors like driver age, location and coverage level. Here at IRP we’ve put together information to help you identify what options may offer the lowest premium costs based on various variables – driver age, location and coverage level among them. We have put together data on which policies offer the lowest premium costs so you can make informed decisions regarding which policies meet these criteria best.
Iowa law mandates all drivers possess a minimum liability coverage policy to operate their vehicle legally. Many drivers opt to go beyond this minimum policy with additional comprehensive and collision coverage in order to protect themselves against uninsured motorists, car theft or weather-related incidents; such higher-level policies can cost up to 2.6x more than minimum-coverage policies.
Credit scores play an enormous part in Iowa drivers’ car insurance rates. People with excellent credit are usually rewarded for their responsible behavior by paying lower premiums compared to drivers with poorer scores; there can be over $1,200 difference in average full coverage costs between drivers with excellent and poor credit in Iowa.
Not only can a driver’s credit and driving record impact premiums, but the type of car they drive can have an effect as well. High-value sedans and SUVs such as luxury models have higher premiums because repairs for such high-priced models can be more costly after a collision or theft. Young drivers also tend to pay more due to inexperience behind the wheel and higher accident rates – so most insurers allow teens to remain covered under their parents’ policies until age 21 for maximum savings on premium costs.
Drivers in Iowa can save money on premiums by selecting a higher deductible, which will lower out-of-pocket expenses should they file a claim. However, it should be remembered that opting for higher deductibles increases claim filing time and processing.
Shopping around and comparing quotes is the key to finding affordable car insurance in Iowa, and could save hundreds of dollars by finding the ideal combination of company, coverage and deductible for your unique driving profile. We’ve put together a list of Iowa’s 10 best companies based on these key variables that affect premiums – click here.