If you own a vehicle registered in Iowa, you are required by law to carry car insurance. If you cause an accident, auto insurance protects you from legal and financial liability. You could face serious consequences if you don't have it, such as hefty fines and licence suspension.
Every state has different car insurance laws, so whether you live in Iowa now or are planning a move there, understanding the state's specific insurance requirements is critical. Not to mention that driving without insurance puts you at risk. Here is some recent Iowa accident data:
There were 39,793 crashes in Iowa in 2016 that resulted in property damage.
In the same year, 5,047 people were injured in a car accident.
In 2016, there were 355 fatal accidents in Iowa.
Iowa auto insurance laws
Iowa auto insurance laws require drivers to have a certain amount of coverage. Iowa's minimum auto insurance is 20/40/15, which includes personal liability insurance. In Iowa, policy limits must include the following:
Per person, bodily injury liability coverage of $20,000 is provided.
Per accident, bodily injury liability coverage of $40,000 is required.
Property damage liability coverage of $15,000 per accident
Uninsured/underinsured motorist coverage is also required by Iowa car insurance laws. The minimum is $20,000/$40,000, depending on the situation. This coverage, however, can be rejected in writing.
Personal liability insurance in Iowa protects you if you are at fault in an accident. If the other driver is injured in the crash, bodily injury liability coverage pays for their medical bills. If there is damage to the other driver's vehicle, property damage liability coverage will pay for it.
Iowa liability insurance
Personal liability insurance is the only type of auto insurance required in Iowa.
It is important to note, however, that a minimum coverage car insurance policy does not provide any protection for your own vehicle, nor does it cover your medical expenses if you are injured in a collision that you caused.
Insurance experts recommend that most drivers purchase more coverage than is required.
There is no guarantee that a minimum coverage policy will cover all of your legal and financial obligations in the event of an at-fault accident.
You may have to pay the difference out of pocket, and if the other driver sues you, your personal assets may be at stake as well.
A full coverage policy with collision, comprehensive, and medical payments coverage is a good investment for added protection. Collision insurance pays for repairs to your vehicle after a covered accident, whereas comprehensive insurance pays for repairs to your vehicle after a non-collision incident, such as a hail storm. If you are injured in a covered accident, medical payments coverage will assist you in paying your medical bills.
Is it true that Iowa is a no-fault state?
No, Iowa is classified as a fault state. When a driver is at fault in an accident, their insurance company will pay the other driver's medical bills and vehicle damages. In a no-fault state, regardless of who was at fault for the collision, each driver's insurance company automatically covers their own medical expenses. Personal injury protection (PIP) is required as part of a minimum coverage policy for drivers in no-fault states.
What is the most affordable car insurance in Iowa?
According to our sample quotes, the cheapest car insurance companies in Iowa are USAA, Iowa Farm Bureau, Geico, Auto-Owners, and Progressive. Keep in mind, however, that rates are personalised, so there is no one provider that is the cheapest option for every driver.
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