The average cost of full coverage car insurance in Iowa is $1,264 per year, well below the national average rate of $1,674. The state-required minimum liability car insurance costs an average of $252 per year, way below the national average of $565.
Remember, car rates vary from driver to driver. For example, one driver may have a DUI mark and several moving violations, whereas another driver may have a spotless 5-year driving record with no moving violations and qualify for the cheapest car insurance in Iowa. Note: a single-car accident could cause your premiums to skyrocket two or three-fold, depending on the offense and your driving record.
What Is the Average Premium for Cheap Full Coverage Car Insurance in Iowa?
Iowans pay an average monthly full coverage car insurance premium of $105. Full coverage insurance consists of liability, collision car insurance and comprehensive auto insurance. If your vehicle is financed, you are likely paying for full coverage at the behest of your lender.
Iowa is an at-fault car insurance state, which means your liability insurance is meant to help pay for the other drivers costs if you cause an accident. Since your liability will not pay anything towards your own costs, having full coverage protects you on several fronts, including paying for your vehicle repairs regardless of who is at fault or if the other driver doesn’t have enough insurance to cover your costs. If your car is stolen or damaged by hail or other weather, comprehensive will step in to help pay for the damage or loss.
How Much Is It for Cheap Liability Insurance or the Minimum Required Car Insurance in Iowa?
The average cost of state-required minimum liability car insurance in Iowa is $21 per month. This is the cheapest car insurance in Iowa and consists of bodily injury/death liability insurance and property damage liability insurance.
We highly recommend not opting for minimum liability car insurance coverage. One reason is its low property damage liability ($15,000) which is well below the cost of a new vehicle. One collision could cause $45,000 in property damage, forcing you to absorb out-of-pocket costs and wreck your budget.
We recommend increasing your coverage limits to $100,000 bodily injury liability per person, $300,000 bodily injury liability per accident, and $50,000 property damage liability per accident.
How Do Rates Compare Across Major Cities in Iowa?
In Iowa, different cities pay different rates depending on many factors, including age/gender distribution, collective risk profile, claims history, and whether the town is sparsely populated or densely populated.
See our breakdown below for the average monthly average premiums five Iowa cities pay.
Unless otherwise specified, we use the following methodology to arrive at our average cost: male, age 30, lowest possible legal coverage allowed by state. Your rates will be determined by several factors, including your age, your gender and the amount of coverage you want to purchase.