Iowa auto insurance information
Auto insurance. Iowa.
The state of Iowa does not require drivers to buy car insurance. If you have a clean driving record, and if you have the financial resources to pay for any accident you do become involved in, then you can legally drive in Iowa without automobile insurance.
Most people can't really qualify under these two conditions.
Iowa has some of the lowest auto insurance rates in the United States. Insurance costs can vary widely from one insurance company to another and you want to make sure you're getting the cheapest rate possible.
You can save money by comparing insurance rates and features.
In all states, the minimum liability is measured according to three factors: 1) Bodily injury liability maximum for one person injured in an accident, 2) Bodily injury liability maximum for all injuries in one accident, and 3) property damage liability maximum for one accident. These numbers generally appear together, in units of 1,000. The minimum auto liability coverage in Iowa is 20/40/15; meaning $20,000 bodily injury for one person per accident, $40,000 bodily injury maximum for all injuries per accident, and $15,000 property damage maximum per accident.
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Shop around. One of the best places to start shopping for car insurance is on the Internet. You can shop online or over the phone and easily compare rates from some of the nationís top auto insurance companies side by side.
Drop collision and comprehensive coverage. If you own a car that's worth less than $1,000, you'll probably pay more for the coverage than you would ever collect on a claim.
Ask for higher deductibles. When you file a claim, a deductible is the amount of money you pay before your insurance company kicks in. Higher deductibles mean lower premiums. For example, increasing your deductible from $200 to $500 on collision coverage could reduce your cost by as much as 30 percent.
Ask Your Agent About Discounts
Insurance companies offer a variety of discounts that will lower your auto insurance rate:
Also ask your insurer if there are any other discounts you might qualify for.
- Multi-policy discount. You may get an auto insurance discount if you have life or homeowners insurance with the same company.
- Multi-car discount. You are often eligible for a discount under a "multi-car" plan if you insure two or more cars with the same insurance company.
- Good student discount. Some Iowa insurance companies will give discounts to full-time students with a B average or higher.
- Good driver discount. If you have a good driving record, some companies offer a discount. Tickets and at-fault accidents can mean higher premiums.
- Anti-theft discount. Devices or systems that deter theft or vandalism also lower claims costs. Many companies offer discounts for anti-theft devices.
- Safety features discount. These savings are passed along to the policyholder through discounts for safety equipment. This equipment includes air bags, automatic seat belts and anti-lock brakes.
- Low mileage discount.
- Drivers who are 55 or older can also get a break on their premium if they pass a special driver's refresher course. Talk to your agent as not all insurance companies make this discount available.
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