Factors like driving record, location and age all play a part in determining your car insurance premium. Ideally, you should look around and get quotes from several providers to find the best coverage and save money. MoneyGeek helps you obtain the best car insurance in Iowa by ranking the leading auto insurance providers in the state based on factors like affordability, quality of customer support and more. Comparing car insurance quotes from some of the most affordable companies in Iowa could help you save up to $525.
The Best Cheap Car Insurance in Iowa for 2021
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Cheapest Car Insurance Companies and Quotes in Iowa
Many individualized factors impact your ability to find the cheapest car insurance carrier in Iowa. You can compare quotes and average annual rates to determine the amount you’ll need to pay in yearly premiums. MoneyGeek ranked the most affordable auto insurance providers in the state based on collision and comprehensive coverage for average drivers.
Average Comprehensive and Collision Rates in Iowa
- CompanyAnnuallyMonthly
- 1. GEICO$473$39
- 2. USAA$614$51
- 3. State Farm$616$51
- 4. Allied$673$56
- 5. Progressive$730$61
The given costs are approximate rates for average drivers. Carriers underwrite auto insurance factors in different ways. Some levy higher rates for those with violations on their driving record. Others present significant discounts for vehicle safety features, students with good grades and people with a clean driving record. Therefore, look around to find the best options for your circumstances.
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Cheapest Liability Car Insurance in Iowa
Like most states, Iowa requires all drivers to have auto insurance. You can get liability-only coverage, which will insure medical expenses and property damage to the other party if you are at fault. Some drivers opt to add collision and comprehensive coverage for their own medical expenses and vehicle. Drivers who are looking for an affordable policy may consider GEICO. This insurance carrier offers the cheapest options for both the state minimum requirement of 20/40/15 liability coverage at $232 per year and for 50/100/50 coverage at $262 annually.
Average Cost for Liability Coverage
- CompanyAnnuallyMonthly
- 1. USAA$226$19
- 2. GEICO$232$19
- 3. State Farm$273$23
- 4. Allied$300$25
- 5. Progressive$320$27
The Best Car Insurance Companies in Iowa for 2021
To identify the best car insurance firms in Iowa, MoneyGeek assessed multiple factors, including cost, customer satisfaction, financial strength and claims experience. MoneyGeek determined a score for each criterion in part by analyzing information from J.D. Power’s U.S. Auto Insurance Study and AM Best’s financial strength ratings, which are highly respected studies for insurance provider ratings and reviews. To arrive at the final rating score out of 100, MoneyGeek gave equal ranking to each study, along with affordability metrics.
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2
Auto-Owners Insurance CoScore: 97.5
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9
American FamilyScore: 77.5
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While USAA scores highly in many areas, this provider is only available to military members, veterans and their families.
Market Share by Company
The National Association of Insurance Commissioners lists the largest auto insurance companies in Iowa as State Farm, Progressive and Nationwide. The table below shows how much of the state is insured by the top companies.
- CompanyMarket Share
- 1. State Farm21.1%
- 2. Progressive17.6%
- 3. Nationwide9.2%
- 4. Farm Bureau Mutual (IA Group)6.8%
- 6.4%
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What Is the Average Cost of Car Insurance in Iowa?
MoneyGeek determined the average prices for 100/300/100 collision and comprehensive insurance for a 40-year-old male with a clean record driving a Toyota Camry. Your auto insurance costs may be higher or lower than these Iowa averages depending on your age, location, coverage level and driving history.
- Average Driver: $778
- DUI: $1,283
- Speeding Ticket: $966
- Poor Credit Score: $1,271
- Seniors: $792
- Students: $1,781
Cheapest Car Insurance for Drivers With a DUI in Iowa
From 2009-2018, 916 people in Iowa have been killed in accidents involving alcohol. In data collected and published by the Centers for Disease Control and Prevention, 3.0% of residents admitted to driving after drinking too much within the last 30 days compared to the national average of 1.7%. Getting a DUI can have a huge impact on a person’s life, with possible jail time, fines and it can mean no longer being eligible for the cheap car insurance rates.
The following table features estimated rates for drivers in Iowa who receive a DUI.
Average Car Insurance Rates With a DUI
- CompanyAnnuallyMonthly
- 1. State Farm$671$56
- $754$63
- 3. Progressive$795$66
- 4. GEICO$944$79
- 5. USAA$996$83
Getting the best price for auto insurance in Iowa with a DUI can be hard, but it’s not impossible. A DUI can impact rates for as long as it stays on your driving record. Preventing future DUIs can help you maintain the most affordable rates.
Cheapest Car Insurance With Tickets in Iowa
Distracted driving is a common issue in all states and includes texting or talking on a cell phone, having a conversation with passengers or eating while driving. Getting a ticket for speeding or distracted driving can mean you’re no longer eligible for cheap car insurance in Iowa. The following table showcases what drivers who get a ticket for speeding or distracted driving can expect to pay.
Average Car Insurance Rates With a Ticket
- CompanyAnnuallyMonthly
- 1. GEICO$493$41
- 2. State Farm$671$56
- 3. USAA$752$63
- $754$63
- 5. Allied$806$67
A ticket may mean you can’t get the best rates, but that doesn’t mean you can’t still get affordable car insurance in Iowa. Any ticket you get can raise your rates for as long as the ticket stays on your driving record. Distracted driving can have a lifelong impact on yourself and others. Avoiding distractions and maintain safe habits can help save you money on tickets, car insurance and more.
Cheapest Car Insurance Companies in Iowa for Drivers With Bad Credit
Car insurance companies in many states consider credit scores when providing quotes. Iowa is no different. According to Credit Karma, payment history, total debt and length of credit history are the top three criteria used to determine your auto insurance credit score. The average credit score in Iowa is 720, according to Experian, which is higher than the national average of 703. This rate means for most Iowans, getting cheap auto insurance quotes should be easier than in other states.
The following table reflects estimates of what drivers in Iowa with bad credit may have to pay for car insurance.
Average Car Insurance Rates for Drivers With Bad Credit
- CompanyAnnuallyMonthly
- 1. GEICO$653$54
- 2. Allied$922$77
- 3. USAA$987$82
- 4. Allstate$1,128$94
- 5. Progressive$1,205$100
Drivers with bad credit may not qualify for the cheapest auto insurance rates in Iowa. Improving your credit score can help you get the most affordable car insurance rates with the best coverage.
Cheapest Car Insurance Companies in Iowa for Seniors
15.3% of the drivers involved in fatal Iowa car crashes in 2017 were people ages 65 and older. Seniors are considered a riskier age group than middle-aged drivers and may see their insurance rates increase over time. In Iowa, the standard driver’s license renewal is eight years. Once you turn 66, it reduces to seven and then lowers annually to two years for every year older you get. Seniors looking for auto insurance in Iowa can expect to pay the following rates.
Average Car Insurance Rates for Seniors
- CompanyAnnuallyMonthly
- 1. GEICO$489$41
- 2. State Farm$594$50
- 3. USAA$630$53
- 4. Allied$683$57
- 5. Farm Bureau Mutual (IA Group)$720$60
Due to age, seniors can have reduced reaction time and a higher likelihood of being involved in collisions. Seniors with safe driving records may be able to find special rates on car insurance in Iowa.
Cheapest Car Insurance for Students in Iowa
Iowa teenagers can get their learner's permit as early as the age of 14, which advocacy groups like the Insurance Institute of Highway Safety say is too young — even with a licensed driver in the car. With very young teenagers on the road, family premiums increase. Parents will have to take their young drivers' safety into their own hands. Practicing with them, sharing car responsibilities and creating a parent-teen agreement are great ways to keep your teens in good standing and safe.
There are some ways to keep rates low and qualify for cheap car insurance for young drivers in Iowa: maintain good grades, drive the safest car in the household and keep college students on the family policy (unless the car is in their name). Students who go to college more than 100 miles away from home and don’t take a car may qualify for the best rates on a family plan.
The following chart shows what families in Iowa can expect to pay when looking to add a young driver to their policy.
Average Car Insurance Rates for Students
- CompanyAnnuallyMonthly
- 1. GEICO$1,118$93
- 2. Progressive$1,515$126
- 3. State Farm$1,805$150
- 4. Allied$2,152$179
- 5. Allstate$2,174$181
Insurance Rate Information for Military Drivers and Veterans
Most auto insurance companies offer discounts to the hundreds of active-duty military personnel living in Iowa and to the state’s retired veterans. Decide how much coverage you need, possibly greater than the state-required minimum, and then shop around to compare car insurance prices.
You'll need to show proof of insurance before the Iowa DMV will sell plates and register the vehicle. Iowa military residents must register their vehicles like any other citizen, while temporary military families can maintain their registration in their home state, so long as it's up-to-date. Military personnel and veterans can expect to pay the following for auto insurance in Iowa.
Average Rates for Iowa service members
25 years$1,136
50 years$860
50 years$860
25 years$1,030
50 years$869
50 years$869
Car Insurance in Iowa: What You Need to Know
The Iowa Code states that all cars on the road must be registered and insured. Always check with your local DMV for answers to specific questions about unused or inoperable vehicles.
Proof of Insurance in Iowa
While driving, you'll have to carry a paper version of your insurance card or an electronic version on a smartphone. This proof must include the following information:
- The driver's name
- The vehicle identification number
- Dates for which the policy applies
- Contact information for the insurer
You must show proof of insurance if you are in an accident or if an officer asks for it.
Minimum Liability Insurance Requirements in Iowa
Iowa, like most states, requires drivers to carry insurance to protect other drivers and their passengers. The minimum liability requirements for auto insurance are:
- $20,000 for injuries to one person
- $40,000 for injuries per crash
- $15,000 for property damage
Alternatives to Insurance in Iowa
If you don't want to buy regular insurance, you'll have to find another way to prove that you can pay up to $55,000 to cover injuries and property damage from a crash. You can do so by buying a bond or making a security deposit. If you own a fleet of cars, you can apply for self-insurance.
Drivers with alternative forms of insurance should know that they don't offer great protection. On the contrary, at-fault drivers will still find themselves paying out in the case of a collision. If you have a bond with a lien against your property, you run the risk of losing that property to pay off another driver's medical bills.
How Much Coverage Do You Need in Iowa?
Although Iowa only requires basic liability coverage, drivers can benefit by getting a plan with more coverage. Here are three things they should consider.
First, a three-day hospital stay costs $30,000 on average, according to statistics from the federal government. One can see how a catastrophic accident — including hospitalization, rehabilitation and medication — could quickly add up. That's why industry experts recommend purchasing a policy with $100,000/$300,000 limits for bodily injury liability.
Second, Iowa is prone to flooding due to its location between the Missouri and Mississippi Rivers. You may want comprehensive coverage to protect your cars from flood damage. Collision coverage will also help in the case of damage caused by other vehicles, including those driven by uninsured drivers.
Finally, insurers automatically sign consumers up for policies to protect them from uninsured/underinsured drivers. You can sign a form to opt-out, but you might want to keep this coverage. Nearly 9% of drivers on Iowa's roadways lack insurance and many of those who do have insurance only purchase the minimum. This means they likely wouldn't be able to cover the full costs of a serious crash.
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sources
- AAA. "Teen Driving: Insurance." Accessed March 9, 2020.
- Centers for Disease Control and Prevention. "Sobering Facts: Alcohol-Impaired Driving State Fact Sheets." Accessed January 13, 2021.
- Credit Karma. "How do my insurance scores affect my car insurance rates?." Accessed March 9, 2020.
- Experian. "Consumer Credit Review." Accessed March 9, 2020.
- Governing: The Future of States and Localities. "Military Active-Duty Personnel, Civilians by State." Accessed January 18, 2021.
- Healthcare.gov. "Protection from high medical costs." Accessed January 18, 2021.
- Iowa Department of Transportation. "Iowa Driver’s License Renewal and Extensions." Accessed March 9, 2020.
- Iowa Tax and Tags. "FAQS - Vehicle & License Plates." Accessed January 18, 2021.
- National Association of Insurance Commissioners. "2018 Market Share Reports." Accessed March 9, 2020.
- National Highway Traffic Safety Administration. "2017 Data: Older Population." Accessed January 13, 2021.