Drivers in Iowa pay rates that are well below the national average for auto insurance. 2010 statistics show that the average annual premium was $1,013 compared to $1,528 nationwide.
Annual Changes
Iowa insurance rates dropped quite substantially in 2010, showing a 19% reduction in 2010 after a 5% rise in 2009. Since each auto insurance company that operates in Indiana sets its own rates, it is not possible to predict whether the sharp downward trend in auto insurance coverage premiums will continue. Therefore, it is very important for drivers who want to get the best possible rates to use this site for monitoring prices and obtaining multiple quotes.
Seasonal Changes
Rates in Iowa remained relatively stable throughout 2010, with the exception of a sharp drop in September and October that was followed by stabilization at approximately the average annual rate in November and December. This pattern may or may not repeat itself in the future, so that getting the best deals is best guaranteed by shopping around and monitoring price trends.
Insurance Requirements
The minimum state mandated insurance requirements in Iowa call for personal liability coverage of $20,000 per person/$40,000 limit per accident and a $15,000 property damage liability limit. However, according to the tort system which applies in Iowa, one party must be judged responsible for any accident and it is that party which is then held liable for the entire cost of the accident. Higher limits are recommended in order to protect assets in the event of a lawsuit. Coverage to protect against damage caused by an uninsured or under-insured driver is available in Iowa and is highly recommended even though it is not mandatory.
Advice for Getting the Best Deals
The Iowa car insurance market is served by both national and regional insurers. It is not possible to determine which companies offer the lowest rates as each company may use its own formulas to set specific rates for each driver and car. Experts recommend obtaining multiple quotes from reliable insurance companies which are rated A or higher by A. M. Best. It is also advised to check the J. D. Power ratings for consumer service related information.
The easiest way to get the lowest rates for car insurance in Iowa is to use our site for price monitoring, as well as to obtain multiple quotes from reliable auto insurance companies.
