You are not required to have liability coverage if your vehicle is being financed. If you are found to be at fault in an accident, liability insurance covers you for your medical expenses and property damage.
Iowa’s minimum liability insurance is 20/40/15. Your liability insurance will cover you for $20,000 in bodily injuries and $40,000 for property damage.
These minimum liability coverage amounts could be dangerously outdated considering current costs for medical treatment and hospital stays, as well as the cost of replacing even moderately priced cars.
You need more than just liability coverage to get full coverage for your automobile insurance. You will need to have liability insurance, as well as collision, comprehensive, uninsured motorist (UM), coverage.
If you are found to be responsible for an accident, medical payments insurance will pay your medical bills as well as the medical bills of any passengers in your car. Consider getting as much medical payments coverage as you can afford, considering the rising cost of hospitalizations and treatment.
Collision insurance covers the cost of your vehicle’s repair or replacement after an accident with another vehicle, or with a stationary object such as a tree, or guard rail. The value of your vehicle, its age and condition will determine the amount of insurance you need.
Comprehensive insurance covers the cost of repairing or replacing your vehicle in case it is damaged by other causes than an accident. Comprehensive insurance is required to replace or repair your vehicle if it is damaged by an animal such as a deer. Also, you should ask whether windshield damage is covered by your comprehensive insurance. Many policies require that you purchase windshield insurance separately.
Uninsured motorist coverage (UM) protects you and your occupants in the event of an accident with uninsured motorists.
You must decide how much coverage you require and what you can afford for each type automobile insurance you choose.
There are many things you can do to lower the cost for your full-coverage automobile insurance. However, the most important thing you can do to reduce the cost is to increase the deductible.
Your monthly premium payments will be lower if you have a higher deductible. You should consider your financial situation when deciding the amount of your deductible. Your insurance company will not pay any claims unless you have enough cash.
Now that you are familiar with the basics of Iowa full-coverage automobile insurance, it is time to go online to start searching for the best deal.
You should compare prices on at least three different websites. No one website can compare all the insurance companies in Iowa. After you do that, you can rest easy knowing you have the best automobile insurance in Iowa for the lowest price.