Iowa Auto Insurance

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Iowa Auto Insurance Requirements

Would you know whether the Iowa auto insurance salesperson is suggesting the coverage you need or the coverage that’ll reap the company the most profit?  Read on to understand what is required in Iowa so you can make the best decision about the amount of coverage you need to protect you and your family.

Required Iowa Auto Insurance Coverage

If you live in Iowa or you plan to operate a vehicle on any of Iowa’s roadways, it’s important to understand what this state requires for auto insurance coverage. Iowa, like other states, only requires that vehicle operators have a liability policy. Liability pays the costs associated with the bodily injuries, or death of others involved in an accident you caused by negligent operation of a vehicle. It also pays the costs to repair property damaged in the accident such as another person’s vehicle, buildings, poles, etc.

Iowa Minimums

Iowa’s required liability minimums are 20/40/15 or $20,000 bodily injury per person, $40,000 combined bodily injury per accident and$15,000 for property damage. Note however that liability does not pay for any of the insured’s bodily injury or property repair expenses.

Iowa Comprehensive/Collision

The optional coverage called Comprehensive/Collision pays the costs associated with damage to your vehicle caused by a collision with another vehicle, or caused by circumstances over which you have no control. Examples are adverse weather, vandalism, theft, and wildlife. Although this insurance is optional, you may be required to have it if your vehicle is financed or leased.

With Comprehensive/Collision, you’ll have to satisfy your deductible before this coverage applies. Also, the insurer likely won’t pay for repairs if the associated costs exceed what it determines to be the vehicle’s current value. Instead, it will issue the insured a check equal to the vehicle’s value and declare the vehicle totaled.

Iowa Uninsured and Underinsured Motorist

Another type of optional insurance worth considering is called Uninsured/Underinsured Motorist. This covers you and your passengers if you’re involved in a hit-and-run accident or an accident with a driver that has no insurance. If the at-fault driver has insurance, but the coverage is insufficient to cover your expenses completely, underinsured motorist coverage pay the difference. Insurers handle this coverage differently, so be sure to understand how and when the coverage applies.

State of Iowa Insurance Division Department of Commerce

For more information, contact the State of Iowa Insurance Division Department of Commerce located in Des Moines at 877-955-1212 or online http://www.iid.state.ia.us/ (site currently down).

 
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