In the state of Iowa, the regulations are remarkably different when pitted against the insurance guidelines of the other states. Many states have detailed parameters about the required insurance, documentation standards and minimum coverage, but Iowa is more or less lenient and accepting in this regard. In Iowa, car insurance is not a necessity. But it is generally advocates that people get their vehicles insured. But before we proceed to the implicit need of auto insurance policies, it is of the utmost necessity to make ourselves aware of some of the auto insurance regulations in the state of Iowa.
- Proof of financial responsibility: As mentioned before, it is not essential to have auto insurance in Iowa. But the state authority in order to lessen the impact of car thefts and especially accident asks its residents to show their financial capability. In case you are in an accident and the damages caused in terms of monetary value ate above 1000 dollars (such is an easy benchmark to cross!) then you are require to show that you are financially able to cover the costs of the damage.
- The burden of financial responsibility: To meet this financial burden it is common sense to have an auto insurance. Because if you have auto insurance then it means that you have money available apart from written bond from the involved driver, a relieve from court for your responsibility or you might have to come up with a plan to pay for the damage caused to the car and property preferably in installments.
- Loss of license: If you fail to meet the requirements then it might mean saying goodbye to your driver's license.
- Need for auto insurance: Experts therefore argue the need to have auto insurance as it unburdens your financial responsibility. Insurance protects you in times of a serious accidental damage. Whereas in the lack of having insurance, you are very much responsible in not only paying for the damage caused to your cat but probably for other people's injuries or property damage. And this amount would easily run over thousands of dollars.
- No requirement of financial responsibility: There are instances when financial proof is not needed. Such cases happen of your vehicle has been handled without your permission, when no person or property is caused any harm or the accident happened when your vehicle was legally parked. The way to show proof of your financial responsibility is by having auto insurance and by using your insurance card you avoid a lot of legal hassles.
In the state of Iowa, therefore many people rush to get their vehicles insured. And if you are one of those who has not yet insured his car, then you should probably do so too. You can take many measures to keep your insurance to the barest minimum. In Iowa, traffic fatalities when compared to the rest of America are about 372 to 33,808 of which most are single vehicle car accidents (about 200 of the 372). This shows that to have your vehicle insured is like providing yourself with a safety net in case of an accident.
There are many ways to keep your auto insurance to the minimum but for that you need to keep a check on a few things which include: your driving technique which has a lot of influence on how much you will have to pay for your insurance in Iowa. If you are a reckless driver or have a tendency to over speed then certainly you would have to pay more insurance. Also insurance tends to increased if you have been previously convicted of DUI. And if convicted a second time then the chances are that you would not be able to get any insurance thereafter.
But if you are a responsible resident then you can avail good insurance premium for your vehicle's safety. You can ask your insurance carrier agent to insure you with the same policy if you have a homeowners'/health policy so that you can avail a multi-discount on your car'd insurance. Similarly if you have a garage to keep your car then the state entitles you to a discount on your monthly premium payment.
Age of the insured also comes into account in Iowa. If you are under 25 then you have to pay more insurance on your car since you are placed in the high risk category. While if you are 55 and above, then some insurance companies allow you a big discount if you take and pass a driver's "refresher" course meant for the elderly. But not every insurance company offers this discount. Therefore make sure to talk to your agent before you get your auto insurance.
Another thing to remember is that in Iowa, your insurance would cover any individual for $20,000 in bodily injury, of which a total coverage is of $40,000 for an accident and $15,000 for any sort of property damage. This this of policy is called the 20/40/15 liability policy in Iowa.
State of Iowa motor vehicle dept. insurance laws