Iowa drivers are not required to purchase car insurance. You are not required to purchase car insurance if your driving record is clean and you have the financial resources to cover any accidents that may occur.
Iowa drivers are not allowed to drive without insurance. It is therefore important to be aware of what you should look for in an Iowa full coverage car insurance quote.
The basic structure of full coverage insurance includes four to five types of car insurance.
Liability insurance is the most basic form of car insurance. This insurance covers medical treatment (also known as bodily injury) for anyone involved in an accident. If you are responsible for an accident, liability will also cover the repair or replacement cost of another person’s vehicle.
Iowa’s minimum liability insurance is 20/40/15. This insurance covers up to $20,000 for bodily injury for one person involved in an accident. The maximum amount of medical coverage is $40,000 for each accident. This policy also covers $15,000 for property damage, which can include repair or replacement of another party’s vehicle.
You can only purchase liability insurance.
If you want full coverage car insurance, you will need to also purchase collision and comprehensive coverage. You could also purchase coverage for uninsured motorists (UM) and medical payments.
You can purchase comprehensive coverage but not collision coverage. However, you cannot buy collision coverage without also purchasing comprehensive coverage.
As the name suggests, collision coverage covers your vehicle’s repairs or replacement in the event that it is involved in an accident. Your lender may require you to have collision coverage if your vehicle is being financed.
Comprehensive coverage protects your vehicle from damage caused by any incident that isn’t a collision. Comprehensive includes theft and damage caused by weather like hail or floods as well as vandalism. Comprehensive also covers damage caused by hitting an animal such as a deer.
Uninsured motorist coverage (UM) covers bodily injury to you and anyone in your car. It also covers repairs to your vehicle if you are in an accident with an uninsured motorist.
The medical payments coverage covers your medical expenses and the medical bills of anyone else who is injured in an accident. The coverage for medical payments only covers four-wheeled vehicles (not motorcycles). There are also limitations to the coverage so be sure to understand them all before you purchase this insurance.
Your lender might require that you purchase additional insurance if your vehicle is being financed. You may also be required to pay a deductible.
You may be able reduce your insurance costs if your vehicle isn’t financed. This includes purchasing limited liability insurance and limiting, or eliminating, your comprehensive, collision and medical payments coverage. Your deductible can be increased to the maximum amount that is most beneficial for your financial situation.
After you’ve determined the types and amounts you require, you can start comparing insurance prices from as many Iowa companies as you like.
You shouldn’t stop comparing websites. You will need to compare at least three different websites if you want to get the best rate for the coverage that you require. After you’ve done this, you can compare the prices and be confident that you are getting the best car insurance in Iowa.
