When it comes to automobile coverage, everyone wants to find a deal. Since state law makes it mandatory for motorists to be insured at all times while operating a vehicle, finding the lowest rate is essential. But your premiums are only part of the picture. Car insurance should also give you peace of mind, and if you’re riding with the minimum limits, a severe accident might leave you struggling financially for years to come. By comparing auto insurance quotes from multiple insurers, the chances of finding the cheapest policy become a lot more likely.

Iowa Car Insurance Laws

legal system

Every driver is required by Iowa car insurance laws to be covered by a liability policy. This protects others on the road if the insured is found to be at fault in a traffic accident. The minimum limits required are as follows:

$20,000 Bodily Injury per person to pay medical costs or funeral expenses.

$40,000 Bodily Injury per accident with multiple injuries, so long as it doesn’t exceed the per person limit.

$15,000 Property Damage Liability for damages to another driver’s vehicle or structures.

Uninsured and Underinsured Motorist coverage must be offered to the insured at the time they purchase a policy. This coverage must be equal to the minimum financial responsibility limits. This covers bodily injury to the policyholder caused by a driver that does not have a policy or is underinsured. This option can be rejected with a separate form provided by the insurer and signed by the insured.

In addition, the National Highway Traffic Safety Administration states that Iowa has stringent laws against driving under the influence and very harsh penalties. Be sure to always practice safe driving in order to keep rates down.

Other policies to consider

Liability insurance is designed to help you meet your financial obligation if you damage or injure someone in a car accident. It isn’t intended to protect you or your vehicle from a car accident. If you can’t afford to replace your vehicle or the cost of sudden medical bills to you or your passengers, you need an insurance policy to protect you.

If you are still paying off your vehicle, or you’re driving a lease, you will be required to carry collision and comprehensive insurance coverage. Collision lets you receive compensation for repairs or replacing your vehicle if it’s totaled in an at-fault accident. Comprehensive covers damages caused by fire, storms, flooding, theft, and vandalism, among other things.

Medical Payment coverage will pay for injuries you sustain in an at-fault accident or expenses that exceed the at-fault driver’s bodily injury liability policy. If you have a good health insurance policy, you might not need this coverage. But note that some health insurance policies have a very high deductible to meet before they pay any expenses, and medical payment coverage may be a better alternative for you.

If you purchased a new vehicle with little or no down payment, you might owe more money than your car is worth. Because new cars depreciate substantially the moment you drive them off the lot, some people purchase gap insurance to cover the difference between the value of the vehicle and the amount they owe in the event their new car gets totaled.

Many insurance companies offer roadside assistance to help you if you’re ever stuck on the side of the road. Towing and labor coverage will help cover the cost of getting it to the shop and repairing it.

If you are unable to get coverage on the voluntary market, the Iowa Automobile Insurance plan can help you get legal to drive.

What determines your rates?

Car insurance companies assess the risk of insuring drivers based on a combination of personal factors and the kind of vehicle they want to protect. The individual factors include age, sex, credit score, driving history, and location. High-risk drivers pay more, and some companies may not offer you coverage, depending on your personal factors.

The kind of vehicle you drive plays a role, too. Your annual mileage, the amount it costs to repair or replace, and the risk of theft will determine the price of your coverage. If you’re driving an older vehicle, it might not be worth the price to pay for comprehensive and collision, especially if it’s worth less than $3,000.

Your premiums will also be determined by the maximum limits you set, the size of your deductible, and the additional policies you choose to add. But you shouldn’t skimp on car insurance to lower your monthly payments—if you can’t afford the cost of an accident, you’re wasting your money on your insurance policy.

Finding Cheap Iowa Car Insurance

The most effective way to save on policies is by comparing rates for multiple Iowa car insurance companies. Each company views motorists differently, and pricing can vary significantly from one provider to another. That means the more quotes you get, the better chance you’ll have at finding a good deal.

Finding quotes can be done quickly and efficiently with the help of the Internet. With so many providers out there to choose from, it would take a lot of time to contact each of them. With the submission of a simple online form, consumers can now have the rates of reliable competitors provided to them in a matter of minutes. This makes finding car insurance quotes easy and convenient. Even if you already have coverage, you could save a lot of money by comparing quotes and switching providers.

The bottom line

Before you shop, you need to decide the level of coverage you need. You also want to watch out for car insurance myths—-get the facts before you buy a policy! Once you’re ready, all you need to do is answer a few questions about you and the vehicle you want to insure, and start comparing prices and coverage. Once you’ve found an insurance company that works for you, you’ll have proof of insurance within minutes. So what are you waiting for?