Car insurance is mandatory in Iowa, but your level of coverage and driving history play an integral part in how much it will cost you. MoneyGeek’s Car Insurance Calculator and list of Iowa’s best insurers will help you find a policy that suits both your budget and needs. Comprehensive and collision coverage are optional but often mandated by lenders when leasing or financing vehicles; their average cost in Iowa is about $329 annually but your individual premium could differ based on various rating factors.
Liability coverage selection is one of the primary determinants of rates in Iowa, and should you increase it beyond minimum limits, your premium will rise accordingly. Setting a higher deductible could lower premiums while potentially incurring greater out-of-pocket expenses in case of an accident.
Age plays an integral role in determining your rates. Insurers tend to view younger drivers as higher risks because they’re inexperienced and less likely to exercise caution on the road; adding one onto your Iowa policy could increase rates up to threefold! It is generally recommended that young drivers remain covered under their parents’ policies until they have established an independent driving history of their own.
Credit score can also have a substantial effect on car insurance premiums. Many carriers view customers with poor credit as high-risk customers and charge them higher premiums; on average, Iowa drivers with poor credit pay 53% more than their counterparts who boast perfect scores.
Your location can have a major influence on the car insurance rates in Iowa. Insurers consider crime and traffic density in an area to assess its risk; thus if you live in an urban environment with higher crime and traffic density, rates will likely be higher than in rural settings with less crime and traffic density.
Although uninsured/underinsured motorist coverage isn’t mandatory in Iowa, it would be prudent to purchase it as up to 11.3% of motorists in Iowa remain uninsured. Medical payments coverage provides assistance if an uninsured driver injures you while traveling through Iowa.
Our research indicates that GEICO, Farmers and State Farm are the best car insurance providers in Iowa. Each offers competitive quotes with excellent customer service as well as discounts such as good student and loyalty discounts. Furthermore, customer satisfaction ratings provide you with an overview of each provider and allow you to easily compare them for the perfect policy for you in Iowa. We encourage you to compare quotes and ratings between multiple providers until you find one that meets all of your requirements.