Iowa is a farming state that produces delicious grain, beef and more every year. You won’t be doing much farming if you’re without Iowa auto insurance in place, however. Iowa is one of the few states without specific auto insurance requirements in place. Even still, you must show proof of financial responsibility if you are involved in an automobile accident. Since one never knows when they’ll become involved in an accident, it is always a good idea to stay insured. It just makes sense. Without auto insurance protection you could face a world of trouble if an accident occurs. It isn’t only your driving that you must worry about: it is others on the road, too.
Car Insurance in Iowa
Since Iowa does not have any specific auto insurance requirements in place it is up to you to determine the amount and the types of coverage you will purchase. A basic policy consists of Liability coverage, which covers the cost of the other party’s damages after an accident. Additional types of insurance coverage available in the state include:
- Uninsured/ Underinsured Motorists
- Rental car coverage
If you are involved in an accident, you could face driver’s license suspensions if it is found that you do not have adequate insurance coverage in place. Once an accident occurs, you must file an Accident Report Form, if damages are more than $1,500. If you do not have auto insurance in place, you can post a cash bond instead. Failure to do either of these things can results in the suspension of your driver’s license.
There are exceptions to this rule. If your vehicle was stopped, parked or legally standing or if you were the only person involved in the accident and no injuries were reported, you do not have to file the accident report. Additionally, an officer may file the report for you, in which case you are not required to submit proof.
Factors Influencing Iowa Car Insurance Rates
When you intend to purchase a policy it is always best to compare first. When you compare you can get the best auto insurance rates with the company of your choice. There are many different factors that affect the cost of your insurance policy. Those factors include:
- Age and Gender
- Educational Background
- Type of Vehicle being insured
- Driving History
- Amount of Coverage desired
- Insurance History
To help ensure that you receive the best rates for your policy, always obey all of the rules of the road so not to accumulate infractions on your driving record. Another excellent way to keep your auto insurance rates low is to compare.
Iowa Car Insurance Discounts
When choosing an Iowa auto insurance policy there are discounts available for those who ask. Those discounts make saving money on the cost of your policy easy. It is a good idea to ask about these (and any other) available discounts that you might qualify for. Typical discounts offered in Iowa include:
- Homeowners discounts
- Multi-Policy discounts
- Multi-Car discounts
- Good Student discounts
- Accident-free discounts
- Loyal Customer discounts
These are just some of the different types of auto insurance discounts that you might qualify for. The amount of the discount for each of these will vary based upon the discount. You may receive up to 40% in discounts, which is hefty savings you can appreciate.
Iowa Car Insurance Quick Facts
Proof of your Iowa insurance can be shown with the insurance card given to you by the insurance company. The glove box is a good place to keep the card for easy access.
The average cost of an Iowa insurance policy is $1,055 annually. The factors listed above all contribute to your rate, and whether or not you will pay more or less than the average cost of coverage.