Iowa auto insurance
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Who needs Iowa auto insurance?
There are around 1.2 million privately owned passenger automobiles registered in the Hawkeye State, with millions more publicly and privately owned autos, buses, trucks and motorcycles. Iowa laws require vehicle owners to purchase car insurance, but there’s no need to pay high rates.
Are Iowa roads dangerous?
Numerous motor vehicle accidents happen daily throughout Iowa. According to the Iowa Department of Transportation, Iowa saw 53,478 crashes in 2022 with:
• 91,076 vehicles involved.
• 119,833 drivers and passengers.
• 1,415 serious injuries.
• 6,327 minor injuries.
• 9,064 possible injuries.
• 338 fatalities.
Distracted driving remains a top cause of Iowa auto crashes. Regardless of the cause, you can face paying significant sums out-of-pocket if you don't have car insurance. Protect your assets by getting Iowa auto insurance quotes through VIU by HUB.
How much auto insurance do you need?
Almost 1.75 million people work in Iowa. Although some modes of public transportation serve the entire state of Iowa, those who prefer to drive need auto insurance. State laws set the minimum insurance coverage as 20/40/15:
• $20,000 bodily injury liability per person.
• $40,000 bodily injury per accident.
• $15,000 property damage.
Although you can drive legally with only the minimum required coverage, those amounts of Iowa auto insurance may not be enough if you’re involved in a serious accident. Accident victims can seek compensation for medical expenses, lost wages, property damage and more. If you cause an accident and your insurance policy doesn't cover all the damages, you are still responsible for paying these expenses. Consider investing in more insurance coverage than state laws require.
What factors can affect your Iowa auto insurance rates?
Insurance companies use risk assessments to price car insurance policies. The higher the risk, the higher the premium. Iowans have it better than most states when it comes to auto insurance rates. Iowa ranks among the 10th least expensive in the nation. The average monthly premium in Iowa is $135, while the nation’s average is $170 per month. Some Iowa residents pay much less than the average premium.
Getting multiple Iowa auto insurance quotes from VIU by HUB to compare can save you money. Why is there so much difference in rates? Some insurers offer discounts. Several factors affect car insurance rates, including:
• The amount and types of coverage and deductible you choose.
• Your vehicle’s make, model, age and upgrades.
• Your age.
• Driving history.
• Your credit score.
• Your zip code.
Let’s look at these factors in more detail to see how they impact Iowa auto insurance rates.
Coverage and deductibles
Your coverage limits and the types of coverage you select impact your premiums. Typically, the higher your coverage limits, the more you’ll pay. Higher deductibles result in lower premiums.
Liability
Liability coverage protects you if you cause a car accident that injures others or damages someone else’s property. Iowa law mandates this type of coverage.
Comprehensive Coverage
Auto accidents aren’t the only occurrences that can damage your car. Comprehensive Coverage pays for specific types of damages not caused by collisions, such as:
• Acts of nature.
• Animal accidents.
• Fire.
• Flood.
• Theft.
• Vandalism.
Review your policy terms carefully to see what it covers. For a trouble-free Iowa auto insurance quotes comparison, use VIU by HUB.
Collision Coverage
Collision coverage pays for damage to your vehicle if you collide with another car or stationary object. This is true regardless of who causes the accident.
Uninsured and Underinsured Motorist
Although state law requires all drivers to obtain car insurance, not all do. In these cases, Uninsured and Underinsured Motorist coverage goes into effect if you get into an accident and you are not at fault. While state law does not require you to purchase these coverages, the law requires that every insurance company offer them to their auto insurance clients. These coverages pay for expenses when you are hit by an at-fault driver who didn’t carry insurance.
Vehicle
The average cost of a new car in the United States is approaching $50,000, but values vary significantly. Several vehicle factors affect Iowa auto insurance rates, including:
• Make.
• Model.
• Upgrades.
• Age.
• Mileage.
Insurers typically ask for your Vehicle Identification Number before issuing a policy. This is so they can identify your vehicle to help determine the rates they will charge you.
Age
Drivers under 25 and over 65 pay more for car insurance than those in between. Although every age bracket can have good drivers, younger and older drivers may be more likely to be the cause of accidents.
Driving history
Drivers with safe driving records usually get better insurance rates. Your rate may be higher if you:
• Have a DUI.
• Caused a collision.
• Have tickets for speeding or other driving infractions.
Iowa auto insurance quotes vary, so compare quotes from VIU by HUB from multiple companies before making a decision.
Credit score
Insurance companies believe that drivers with bad credit pose more risk than those with excellent credit. The higher your credit score, the lower your premiums are likely to be.
Zip code
Drivers in some Iowa zip codes, especially in densely populated or traveled areas, file more insurance claims than drivers in more rural locations. Insurers consider those zip codes high-risk and charge more for insurance policies in those areas.
Do you need full coverage?
Full coverage insurance describes a package that includes liability, comprehensive and collision coverages. If you financed or leased your vehicle, your lienholder probably requires you to have full coverage insurance because it protects against numerous kinds of losses.
If you own your car, keeping full coverage is optional. However, you’ll probably want to keep it if:
• Your car is expensive or newer.
• You can’t afford to repair or replace your car without the coverage.
• You live in areas with a high number of vehicle thefts, adverse weather or lots of animals.
• You frequently travel in heavy traffic.
If you decide to drop full coverage, you’ll still need to retain Iowa’s minimum coverage.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
Sources:
Federal Highway Administration
Iowa Public Transit Association
Iowa Department of Transportation
Auto insurance in Iowa by city
Understand risks, minimum state coverage requirements, average costs and other specifics that can impact auto insurance policies and premium rates in your city.