Cheap Car Insurance Quotes for Drivers Over Age 50 in Iowa

Finding budget insurance is challenging, and determining which company offers the most affordable insurance rates for drivers over age 50 may require even more perseverance. Rates should be a little bit cheaper than the average price in Iowa attributed to the lower risk related to selling coverage for older drivers. Affordable coverage should be possible from many insurance companies.
Each insurer has a different process to determine premium rates, so let’s begin by taking a look at the insurance companies that tend to be cheaper in Iowa.

It’s important to know that Iowa insurance rates are calculated based on many things which can substantially decrease or increase the cost of coverage. This price variation is why drivers need to perform a complete rate comparison when trying to find affordable car insurance rates for drivers over age 50. Insurance prices are determined by many risk factors and change substantially, so the best company a year ago may now be priced much higher than other options.

Cheapest Insurance Rates for Age 50+

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USAA may have some of the cheapest car insurance rates in Iowa at around $669 per year. Partners Mutual, Western National, Allied, and Hastings Mutual also rank well as some of the lowest-priced Iowa auto insurance companies.

As the rates illustrate above, if you currently have coverage with Western National and switched to USAA, you might achieve yearly savings of roughly $132. Insureds with Allied may save as much as $142 a year, and Hastings Mutual policyholders might lower prices by $202 a year.

Be aware that those estimates are averages for all types of drivers and the different vehicles they drive and and are not figured with a rate decrease for drivers over age 50. So the company that has the lowest price for you may not even be featured in the above rate chart. That’s why you need to get auto insurance quotes using your own specific driver information and vehicle.

When shopping for car insurance for older drivers, one of the many criteria that impact the amount you pay for auto insurance is where your residence is. Densely populated urban areas like Council Bluffs, Davenport, and Dubuque tend to have higher rates, whereas areas with less people or fewer weather incidents benefit from lower coverage costs.

The illustration below sorts the priciest cities in Iowa for drivers over age 50 to purchase car insurance in.

Rate information is approximated as the specific garaging location can impact coverage prices considerably.

Difference between liability only and full coverage rates

Finding cheap car insurance for drivers over age 50 in Iowa is the goal of most people, and one great way to buy cheaper insurance is to not buy comprehensive and collision coverage. The example below shows the difference between premium costs with and without full coverage. The rates are based on no accidents or driving violations, $1,000 deductibles, drivers are single, and no additional discounts are factored in.

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Averaged for all age groups, comprehensive and collision coverage on your policy costs $1,141 per year over liability only. That is a significant amount which raises the question if paying for full coverage is worth it. There is no clear-cut rule for dropping physical damage insurance, but there is a general guideline you can use. If the annual cost of coverage is more than 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.

For example, let’s pretend your vehicle’s replacement cost is $8,500 and you have $1,000 policy deductibles. If your vehicle is destroyed, the most your company would pay you is $7,500 after paying your deductible. If you are paying over $750 a year for comprehensive and collision coverage, then it may be the right time to buy liability only.

Impact of careless driving on insurance rates

The best way to score cheap insurance prices in Iowa for older drivers is to be an attentive driver and maintain a clean driving record. The information below shows how speeding tickets and accidents can raise annual premium costs for different insured age categories. The information is based on a married female driver, comp and collision included, $500 deductibles, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘Two Speeding Tickets and No Accidents’, ‘Two Speeding Tickets and Two Accidents’],[‘Age 20’, 1299,1679,3149],[‘Age 30’, 907,1283,2753],[‘Age 40’, 901,1277,2747],[‘Age 50’, 795,1171,2641],[‘Age 60’, 757,1133,2603],[‘Age 70’, 813,1191,2659]]);var options = {title: ‘Impact of Citations and Accidents on Iowa Auto Insurance Rates’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Iowa’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

The data charted above shows the average cost of a car insurance policy in Iowa per year with no accidents or violations is $912. Get written up for two speeding tickets and the average cost hikes up to $1,289, an increase of $377 each year. Now add two accidents along with the two speeding tickets and the yearly cost of insurance for drivers over age 50 jumps again to an average of $2,759. That’s an increase of $1,847, or $154 per month, just for not driving safely!

How to get cheap car insurance for drivers over age 50 in Iowa

The list below shows a few thrifty suggestions that can help Iowa drivers buy cheaper coverage.

• Buy a safer vehicle
• Improve your credit
• Accident-free drivers may qualify for discounts
• Do not pay for comprehensive and collision coverage on older vehicles
• Raise deductibles
• Save money by observing traffic laws and speed limits
• Compare rates regularly and switch companies to save money

The last item on the list is extremely crucial, as was stressed in this write-up. Prices in Iowa fluctuate constantly, so don’t be hesitant to buy from a new company if you find a cheaper price.

Being loyal to a particular company is commendable, but it’s not a good idea if your bullheadedness ends up costing you hundreds of dollars year after year. It only take a few minutes to shop around to find cheaper insurance for drivers over age 50.