Best Cheap Auto Insurance for Low Income Drivers in Iowa

For poor drivers, one of the largest factors that car insurance companies take into consideration when calculating rate quotes is where you call home. Regions with more people or even just more weather-related claims like Council Bluffs, Davenport, and Bettendorf are more likely to pay higher prices, whereas areas with lower crime rates and fewer weather claims benefit from lower prices.

The illustration below sorts the most costly cities in Iowa for low income drivers to buy car insurance in.

Information shown are approximated as the specific area where the vehicle is garaged can impact rates greatly.

Figuring out which companies quote the cheapest car insurance rates for low income drivers requires a bit more work than just comparing a company or two.

Each auto insurer uses their own formula for setting rates, so let’s take a look at the car insurance companies with the overall cheapest rates in Iowa. It’s important that readers know that Iowa car insurance rates are impacted by many factors that can increase your annual premium. Simply getting older, having a claim, or getting a few speeding tickets can produce rate changes resulting in some companies being cheaper than competitors.

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USAA generally has some of the lowest car insurance rates in Iowa at around $683 a year. Partners Mutual, Allied, Western National, and Hastings Mutual would also make the list of some of the more affordable Iowa insurance companies.

In this example, if you have coverage with Allied and switched to USAA, you might achieve yearly savings of around $96. Policyholders with Western National may save as much as $118 a year, and Hastings Mutual policyholders might cut rates by $188 a year.

To see if your current coverage is too expensive, click here to get a free quote or click through to the companies below.

It’s important to note that these policy rates are averages across all insureds and vehicles and do not factor in a rate decrease for low income drivers. So the insurer that has the cheapest price for you may not even be featured in the rate chart shown above. That point stresses why you need to get car insurance quotes using your own specific driver information and vehicle.

Rate comparison of full coverage and liability-only

Finding the best cheap car insurance for low income drivers in Iowa is probably important to most vehicle owners, and one of the easiest ways to find cheaper insurance is to only buy liability insurance. The diagram below visualizes the comparison of insurance prices with full physical damage coverage compared to only buying liability only. The premiums assume no violations or accidents, $500 deductibles, single marital status, and no additional discounts are factored in.

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Averaged for all ages 20 through 70, full coverage costs $1,295 per year more than buying just liability insurance. Many drivers will wonder if it’s worth it to buy full coverage. There is no written rule of when to stop paying for physical damage coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than around 10% of replacement cost minus your deductible, then you may want to consider only buying liability coverage.

Types of discounts on Iowa car insurance

<img class="shadow floatright" src="http://www.quoteclickinsure.com/blog/wp-content/uploads/car-insurance-low-income-drivers-ia.jpg" alt="Cheaper Iowa car insurance for poor drivers”/>Insurers that provide the best cheap car insurance for low income drivers in Iowa may have policy discounts that could potentially reduce rates by as much as 25% or more if you qualify for them. Larger car insurance companies and their offered discounts can be found below.

• Farm Bureau may offer discounts for multi-policy, multi-vehicle, driver training, safe driver, youthful driver, and good student.
• State Farm may include discounts for good student, safe vehicle, student away at school, Drive Safe & Save, Steer Clear safe driver discount, anti-theft, and driver’s education.
• Progressive discounts include homeowner, online signing, multi-vehicle, multi-policy, online quote discount, and good student.
• Allstate policyholders can earn discounts including farm vehicle, new car, premier discount, early signing, multi-policy, and utility vehicle.
• Nationwide may have discounts that include Farm Bureau membership, accident-free, easy pay, defensive driving, anti-theft, and business or organization.
• MetLife includes discounts for defensive driver, accident-free, claim-free, good student, good driver, multi-policy

The information below compares premium costs with and without discounts applied to the rates. Data assumes a male driver, no claims or driving citations, Iowa state minimum liability limits, full coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, passive restraint, marriage, multiple vehicle, vehicle safety, and defensive driving course discounts applied. With discounts applied, the the amount saved on car insurance for low income drivers is 27% or $395.

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