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Iowa Insurance Laws

Iowa insurance laws say that to drive legally in the state, a driver must carry Bodily Injury Liability minimums of $20,000 per person up to a total of $40,000 per accident, and Property Damage Liability coverage with a minimum limit of $15,000.

This compulsory coverage is also known as the 20/40/15 coverage.

Although insured and underinsured motorist coverage option is not required by Iowa Insurance Laws, you should also be aware its advantages.

Your insurance provider should inform you of this particular coverage and your right to waive it. If you decide to decline this coverage, you have to put it into writing.

UM/UIM will protect you from uninsured motorists, inadequately insured motorists and also hit-and-run drivers.

You may choose to buy a minimum of $20,000 per person uninsured motorist coverage and a minimum of $20,000 per person underinsured motorist coverage.

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To make it easier for their customers, most insurance providers offer uninsured coverage and underinsured motorist coverage as a single package.

You may ask your insurance agent to see if your insurance provider does too. Iowa insurance laws are plainly stated in the Iowa code, and you could get a ticket if you do not ensure you have the proper coverages.

In 2010, the average premiums in auto insurance policies issued to the locals in Iowa is $1,024. For the whole United States, the average premium issued is $1,580.

A lot of people assume that the state and insurance companies agree to and fix insurance rates offered in the area. Because of this, most people do not try to shop around for auto policies offered at better rates.

It is important to know that insurance rates are not fixed in every area. This is not mandated by Iowa Insurance Laws.

In actuality, insurance companies section their rates differently so that everyone’s premium will be different with each insurance provider (Iowa insurance laws do no stablish a minimun premium that must be charge for coverage).

2010 has showed a decrease in insurance rates. Be sure to ask quotes from different insurance companies to ensure you get the best protection at a reasonable rate (and ensure that you meet the minimum Iowa insurance laws).

Now, to make it easy and speedy for you to get a quote you have to gather the following first:

  1. Collect pertinent information on the vehicle to be insured. You may want to know beforehand the exact model, year and make of your car. Also, be sure to know your vehicle’s identification number.
  2. If your motor vehicle is funded, you may want to have at hand the name and address of the bank or financial institution involved.
  3. You may also want to have a rough estimate of the average number of miles you drive per year. You can also list down general information on how you utilize your car. Include any feature your car has. This means any safety or anti-theft features.
  4. Finally, compile your driving history. Take note of any accident and/or violation you had. Most insurance providers offer lower rates to drivers with pristine driving records. Likewise, high-risk drivers are given higher rates.

With the above documents, you are now ready to go shopping for car insurance. If you are presently in Iowa, take note of the minimums required by Iowa Insurance Laws.

You want to make sure that these minimums are included in your auto policy. Check the table below for a quick summary of Iowa insurance laws and the minimum limits of the state.

Iowa Insurance Laws
Jurisdiction Modified Comparative Fault -- 51 Percent Bar
Liability Insurance required? Yes
Personal injury liability maximum for one person injured in an accident. $20,000
bodily injury liability maximum for all injuries in one accident. $40,000
property damage liability maximum for one accident. $15,000
PIP required? No
No-fault state? No
Uninsured motorist coverage required? No
Bodily Injury Statue Of limitations 2 Years
Property Damage Statute of Limitation 5 Years
Small Claims Court Maximum Limit $5,000

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