Best car insurance in Iowa for 2024

Our 2024 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, average quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best, Demotech and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.

Like almost all other states, Iowa requires a mandatory minimum level of auto insurance. If you live in Iowa, you must carry at least the minimum liability insurance. This includes liability coverage for both bodily injury and property damage. While minimum coverage may be the most affordable option, most insurance professionals recommend carrying full coverage car insurance if you can afford to do so. Minimum coverage does not offer coverage for your own vehicle and likely won’t be enough to prevent substantial out-of-pocket costs if you cause an accident.

If your car is loaned or leased, your financial institution may require that you carry full coverage to protect their financial interest in your vehicle. You might also want to consider gap insurance, which would pay the difference between the value of your vehicle and your remaining loan balance if the vehicle were to be totaled or stolen and nonrecoverable.

Ultimately, your insurance company of choice will vary based on your preferences and circumstances. You may be looking for the cheapest premium possible, or perhaps you are more interested in high customer service scores or specific coverage options. Understanding what you want from an insurance company might help you to narrow your options. Once you have chosen companies that fit your needs, you can request quotes from each company to compare premiums.

One way to find the best car insurance company for your needs is to consider your priorities. Is saving money the most important factor for you, or are you willing to pay more for excellent customer service? Do you value a company with feet-on-the-ground agents, or do you prefer to handle your insurance business digitally? Knowing the answers to questions such as these can make it easier for you to find the company that is the right fit for your circumstances.

On average, Hastings Mutual, Pekin and USAA offer some of the cheapest car insurance rates in Iowa. However, no single insurer is always going to write the cheapest policies for everyone all the time. That's because the factors that determine rates are unique to you. Your insurer will look at your credit, age, driving history and more, as well as your car's age, make and model, in determining what you will pay for your policy. The amount of coverage you purchase also helps determine your rate. As such, experts recommend gathering quotes from a range of companies.

There are a few different strategies that might help you get a lower auto insurance rate. Shopping around to compare quotes may help you find the cheapest carrier for your circumstances. From there, looking at discount options and being aware of your personal rating factors may help you maintain low rates. For example, improving your credit score and avoiding accidents and tickets can also help you save on your auto insurance premium over time.