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Average cost of car insurance in Iowa for 2023
Iowa drivers pay an average of $1,315 per year for full coverage car insurance and $223 per year for minimum coverage.
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What To Know First
Iowa drivers enjoy lower-than-average car insurance premiums when compared to many other states. Full coverage costs an average of $1,315 per year, 35 percent less than the national average of $2,014. Minimum coverage is similarly cheap in Iowa, at $223 per year versus $622 nationally, a 64 percent difference. Price is an important metric when you’re looking for car insurance, and Bankrate’s insurance editorial team — which includes licensed agents — knows that prices vary based on various rating factors.
To help you understand what Iowa car insurance might cost for you, we analyzed average rates for different cities, ages, genders, driving record incidents, credit tiers and vehicle models. Here are some key points we discovered:
- Drivers in Des Moines, Iowa’s capital, pay $1,332 per year for full coverage, only about a 1 percent difference from the state average.
- 18-year-old males have the highest premium of any age and gender, at $3,754 per year for full coverage.
- A 20-year-old on their own policy pays $761 more per year than if they were rated on their parents’ policy.
- Iowa drivers with a DUI conviction pay an average of 87 percent more for full coverage than drivers with a clean driving record.
- Having excellent credit pays off; drivers in Iowa with the highest credit tier pay an average of 14 percent less per year for full coverage compared to drivers with good credit.
On This Page
- How much is car insurance in Iowa?
- Iowa car insurance rates by city
- Average cost of car insurance by age and gender in Iowa
- How does driving record impact the cost of car insurance in Iowa?
- Car insurance rates in Iowa by credit tier
- Iowa car insurance rates by vehicle type
- How to save on car insurance in Iowa
- Estimate your car insurance cost in Iowa
- Frequently asked questions
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How much is car insurance in Iowa?
The average cost of car insurance in Iowa is $223 per year for the state minimum required coverage and $1,315 per year for full coverage. However, costs vary based on a number of factors, including the company you choose, your city, your age and your driving record. Bankrate analyzed average rates, obtained from Quadrant Information Services, for several different types of drivers. Our research might help you understand what a competitive rate looks like for your situation.
Average minimum coverage premium in Iowa | Average annual full coverage premium |
---|---|
$223 | $1,315 |
Iowa car insurance rates by city
In addition to your state, the city you live in affects your auto premium. Iowa car insurance rates vary based on city due to different areas having different risks, different likelihoods of accidents, and different costs of living, all of which affect claims costs. In areas where claims are more likely or more expensive, like urban areas, rates are likely to be higher.
Iowa city | Average annual full coverage premium | Percentage change from Iowa average annual full coverage premium |
---|---|---|
Cedar Rapids | $1,221 | -7% |
Davenport | $1,324 | 1% |
Des Moines | $1,332 | 1% |
Iowa City | $1,174 | -11% |
Sioux City | $1,458 | 11% |
Average cost of car insurance by age and gender in Iowa
Age is one of the more substantial variables when it comes to how insurance companies calculate auto rates. Different age demographics have significantly different chances of experiencing an auto accident, filing a claim, or receiving a ticket. Providers use this information to help them determine rates. As a result, the various age groups tend to have noticeably different average premiums. The average car insurance rates in Iowa by age, shown in the table below, are representative of drivers on their own policy (with the exception of the 16-year-old driver, who is rated on a policy with a married couple and one vehicle).
Age | Average monthly full coverage premium in Iowa | Average annual full coverage premium in Iowa |
---|---|---|
Age 16* | $221 | $2,655 |
Age 18 | $313 | $3,754 |
Age 20 | $250 | $2,996 |
Age 25 | $143 | $1,712 |
Age 30 | $116 | $1,396 |
Age 40 | $111 | $1,329 |
Age 50 | $99 | $1,189 |
Age 60 | $96 | $1,149 |
Age 70 | $102 | $1,221 |
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Age | Average monthly full coverage premium in Iowa | Average annual full coverage premium in Iowa |
---|---|---|
Age 16* | $192 | $2,308 |
Age 18 | $248 | $2,973 |
Age 20 | $201 | $2,406 |
Age 25 | $127 | $1,528 |
Age 30 | $113 | $1,360 |
Age 40 | $108 | $1,301 |
Age 50 | $99 | $1,185 |
Age 60 | $95 | $1,141 |
Age 70 | $100 | $1,198 |
*16-year-old calculated on parents' policy with discounts applied; 18- and 20-year-old are renters on their own policies with no discounts applied
Cost considerations for young drivers in Iowa
Young drivers are expensive to insure, but staying on their parents’ policy can have a tremendous impact. Generally, insurers will allow a young driver to be rated on their parents’ policy as long as they are still a household member. Once a young driver has moved out and established their own household (with the exception of going to college), it’s usually time to start a separate policy, but be prepared for the cost difference. 18-year-olds pay nearly $1,200 more on their own policy versus on their parents’ policy, for example.
Age | Average annual premium for drivers on their parents' policy in Iowa | Average annual premium for drivers on their own policy in Iowa |
---|---|---|
Age 16 | $2,482 | N/A* |
Age 17 | $2,343 | N/A* |
Age 18 | $2,206 | $3,363 |
Age 19 | $2,033 | $2,927 |
Age 20 | $1,940 | $2,701 |
*16- and 17-year-old drivers must be on their parents’ policy.
How does driving record impact the cost of car insurance in Iowa?
Driving records have a strong statistical correlation with driving behaviors, which can predict your risk of causing an accident in the future. Therefore, even one traffic offense can increase your rates by a notable amount. A speeding ticket conviction has the least impact on the average cost of car insurance in Iowa, with an annual increase of 19 percent for full coverage, while a single DUI conviction raises full coverage premiums by an average of 87 percent per year.
Driving incident | Average annual full coverage premium in Iowa | Percentage increase from Iowa average annual full coverage premium |
---|---|---|
Clean driving record | $1,315 | 0% |
Speeding ticket conviction | $1,562 | 19% |
At-fault accident | $1,786 | 36% |
DUI conviction | $2,460 | 87% |
Car insurance rates in Iowa by credit tier
Credit is also a contributor to the average car insurance cost in Iowa. Statistically, drivers with poor credit are more likely to file claims, which means that they are a higher risk to insurers. Insurance companies charge higher rates for lower credit tiers to compensate. In Iowa, there’s just over a $1,200 difference in average full coverage costs between drivers with poor credit and drivers with excellent credit.
Credit tier | Average annual full coverage premium in Iowa | Percentage change from Iowa average annual full coverage premium |
---|---|---|
Poor | $2,343 | 78% |
Average | $1,459 | 11% |
Good | $1,315 | 0% |
Excellent | $1,135 | -14% |
Iowa car insurance rates by vehicle type
Finally, our team took a look at average car insurance rates for different vehicles. If you’re wondering “How much is car insurance in Iowa?” you probably need to consider the type of vehicle you need to insure. Vehicles that cost more to repair or replace, or that are more likely to get into an accident, will likely have higher average rates. For example, our research found that a BMW 330i costs $688 more per year to insure with full coverage than a Ford F-150.
Vehicle | Average annual full coverage premium in Iowa |
---|---|
Toyota Camry | $1,315 |
Ford F-150 | $1,101 |
Honda Odyssey | $1,126 |
BMW 330i | $1,789 |
Toyota Prius | $1,428 |
How to save on car insurance in Iowa
Iowa drivers already enjoy lower-than-average rates for car insurance when compared to the national costs, but there are ways to lower your premium even more. If you want to save money on car insurance, you might consider:
- Applying discounts: One of the most convenient ways to save on car insurance is to pursue discounts offered by your insurance provider. These discounts can range from safe driving benefits to paperless billings discounts to bundled policies and more. In general, the more discounts you can qualify for, the more money you might save on premiums.
- Maintain a clean driving record: Although it won’t lower your rates immediately, practicing safe driving is one of the best strategies to keep your costs down in the long run. Driving incidents result in costly surcharges on your policy and can preclude you from good or safe driver discounts.
- Increase your deductibles: A full coverage car insurance policy has two deductibles: one for comprehensive and one for collision. Raising your deductibles will usually reduce your rates, but it comes at a risk. Higher deductibles mean paying more money out of pocket before your insurance policy will help with costs.
- Improve your credit score: Credit scores have an indirect but notable impact on auto insurance rates. This impact is because insurance providers use credit scores when calculating insurance scores. As we’ve seen, lower credit tiers generally result in higher premiums. If you can improve your credit, you may see a reduction in your car insurance premium.
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