How Much Is Car Insurance in Iowa? (2023 Averages)
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A wide range of factors, such as your driving record and chosen coverage levels, affect the cost of car insurance premiums in Iowa. A policy with the state’s minimum coverage costs approximately $367 per year, while the average cost of auto insurance in Iowa is $778 per year. If you incur a traffic conviction or add a young driver to your auto insurance policy, the average annual premium will climb to $966 and $1,877, respectively.
How much you pay for auto insurance in Iowa will also depend on your selected auto insurance company. In the state of Iowa, a full auto insurance policy from GEICO costs just $473 per year, whereas a comparable policy from MetLife costs $998 annually.
The Average Cost of Car Insurance in Iowa
MoneyGeek analyzed average car insurance costs in Iowa based on factors that have the most impact on the cost of your car insurance.
According to MoneyGeek’s research, the two most significant factors affecting average car insurance policies in Iowa are age and credit score.
Learning more about how individual factors impact the average cost of car insurance can help you find the best coverage and price for your needs.
Average Costs of Car Insurance in Iowa
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- DriverAverage Annual PremiumAverage Monthly Premium
- The Average Driver$778$65
- Drivers Buying Minimum Coverage$367$31
- Adding a Young Driver$1,877$156
- Drivers With a Violation$966$81
- Drivers With Poor Credit$1,237$103
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Why Are Car Insurance Rates Cheap in Iowa?
Iowa is the sixth cheapest state in the country in terms of car insurance average costs. According to MoneyGeek’s research, contributing factors include a low chance of natural disasters, highway density, percentage of uninsured motorists and incidence of motor vehicle theft.
A relatively low percentage of highway traffic decreases the likelihood of high-speed vehicle crashes and incidents, thereby decreasing car insurance costs. Similarly, a low percentage of uninsured motorists at only 11 percent decreases overall risk and lowers car insurance costs.
Iowa also has a low percentage of vehicle theft incidents and a very low probability of natural disasters, both of which factor into the cheap car insurance costs.
Average Cost of Car Insurance in Iowa: Full Coverage vs. Minimum Coverage
In Iowa, a minimum car insurance policy costs an average of $367 per year while a full coverage policy, defined according to MoneyGeek’s methodology, costs an average of $778 per year. That’s a $411 difference between the policies.
How much coverage you choose to purchase determines the average car insurance costs in Iowa. Car insurance typically includes different sub-components such as liability coverage, comprehensive coverage and collision coverage. The more coverage or features you add to your policy, the more expensive it will be. A full coverage policy typically offers the maximum protection while costing more.
Average Cost of Car Insurance in Iowa by Coverage Level
A state-minimum policy in Iowa is the cheapest car insurance you can purchase.
Remember that car drivers in Iowa can increase their liability coverage to either 50/100/50 or 100/300/100. These figures represent the maximum liability coverage amounts on your insurance policy. For example, a 50/100/50 car insurance policy covers:
- $50,000 in bodily injury liability insurance per person
- $100,000 in bodily injury liability insurance per accident
- $50,000 in property damage liability insurance per accident
A full coverage policy, on the other hand, provides the insured car with both comprehensive and collision coverage and covers the insured car in the event of an accident.
Average Cost of Car Insurance in Iowa By Company
How much you pay for car insurance in Iowa depends on the insurance company you choose, and most companies are likely to quote you different rates.
In Iowa, the most affordable option for both minimum liability coverage and full coverage is GEICO.
Another affordable option is USAA, which offers the cheapest liability-only car insurance in Iowa. However, USAA policies are only available to current and former military personnel and eligible family members.
Allstate is the most expensive on average for state minimum liability insurance in Iowa while MetLife is the most expensive option for full coverage insurance on average.
Average Annual Costs of Car Insurance in Iowa - By Company
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- CompanyMinimum CoverageFull Coverage
- $232$473
- $226$614
- $273$616
- Allied$300$673
- $320$730
How Much Is Car Insurance in Iowa by Age?
According to MoneyGeek’s research, there is a difference of $1,099 per year on average for a 16-year old’s policy and a 40-year old’s policy.
Among the factors that influence average car insurance costs in Iowa, driver’s age is one of the most impactful. This is because young drivers are considered high-risk drivers and are more likely to be involved in driving incidents due to their lack of experience. Therefore, they consequently pay more for car insurance. It is possible for young drivers to save money on insurance premiums by getting added to their parents’ car insurance policy versus having their own.
If you are a first-time driver, you will likely have to pay similar car insurance rates as teenagers. First-time drivers are treated the same as young drivers in Iowa due to similar lack of driving experience.
Average Costs of Full Coverage Car Insurance in Iowa - By Age
How Does Driving History Affect Car Insurance Costs in Iowa?
In Iowa, high-risk drivers — drivers with accidents or multiple violations on their records — will typically pay more for their car insurance compared to a driver with a clean record. However, high-risk drivers can still find affordable insurance in Iowa by shopping around.
According to MoneyGeek’s data, having a speeding ticket can result in you having to pay $188 extra per year on average compared with someone with a clean driving record. Costs can fluctuate according to the severity of the violation.
Average Costs of Full Coverage Car Insurance in Iowa - By Driving History
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- Driving ViolationAnnual Premium
- Safe Driver$778
- Speeding Ticket$966
- At-Fault Accident$1,152
- DUI$1,283
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Credit Scores and the Cost of Car Insurance in Iowa
According to MoneyGeek’s analysis, people with a poor credit score in Iowa pay an average of $494 more per year compared with people with good credit. If you have excellent credit, you would have to pay $124 less per year on average compared to drivers with good credit.
In Iowa, your credit score has a significant impact on your average car insurance costs. If you have a good credit score, you can save money on insurance premiums. While drivers with bad credit do have to pay more, shopping around can help you find affordable car insurance rates in Iowa.
Average Costs of Full Coverage Car Insurance in Iowa - By Credit Score
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- Credit ScoreAnnual Premium
- Excellent$620
- Good$743
- Fair$885
- Below Fair$1,059
- Poor$1,237
How Much Is Car Insurance in Your City?
While car insurance costs differ greatly across states, they can also differ quite a bit from locations and cities within a state. In Iowa, Des Moines is the most expensive city for car insurance at $788 annually.
Insurance companies take into account several factors when determining car insurance policy costs. People residing in urban centers typically pay more for insurance due to higher incidences of theft and vandalism. Similarly, if you live in a densely populated area with a higher risk of road accidents or an area prone to natural disasters, you would likely pay more for your car insurance.
Average Costs of Full Coverage Car Insurance in Iowa - By City
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- CityAnnual Premium
- $725
- $778
Frequently Asked Questions About Iowa Car Insurance Rates
Here are some important frequently asked questions (FAQs) about car insurance costs in Iowa.
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