UPDATED: Mar 13, 2020
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Cheap Car Insurance in Cedar Rapids, IA
In the market for cheap auto insurance in Cedar Rapids, IA? At AutoInsuranceEZ.com, you could find the best insurance rates close to you. To get free car insurance quotes from the leading providers today, enter your zip code into the quote box on this page.
Although economic expansion has been a prominent feature of Cedar Rapids lately, its political leadership has worked very hard to keep its Midwestern traditions intact. The city has long been a major center for both industry as well as culture for the eastern part of Iowa. Recently, many high-tech companies have begun to set up shop within Cedar Rapids, which promises to bring further developments in economic growth and international business.
- Fun fact: Did you know that Cedar Rapids is #2 on the list of “Top 101 cities with largest percentage of females working in industry: Broadcasting and telecommunications (population 50,000+)”? Learn more about Cedar Rapids.
Auto Insurance Coverage Requirements in Iowa
Driving legally in Cedar Rapids requires:
|Bodily Injury Liability||20,000/40,000||100,000/300,000|
|Property Damage Liability||Not required||100,000/300,000|
|Uninsured Motorist Bodily Injury||Not required||100,000/300,000|
|Medical Payments||Not required||5,000|
|Collision||Not required||500 deductible|
|Comprehensive||Not required||250 deductible|
Iowa is unique in that it doesn’t require you to buy Property Damage Liability coverage. This is good in that it it makes your monthly rates cheaper. However, it also makes it that much more likely that you will incur serious financial expenses in the event of an accident.
The state average in Iowa can range around $88 per month, but rates in Cedar Rapids can be as low as $23/mo* for many drivers. Depending on your personal circumstances, you can get great coverage for a low monthly rate, too.
The top 3 lowest rates in Cedar Rapids come from providers such as State Farm, American Family, and Grinnell. But does a lower rate automatically make them the best company? There are other factors to consider, such as customer service and the claims filing process, before you decide which company gets your business.
Auto insurance carriers contemplate numerous factors when assessing insurance quotes, including gender, driving violations, credit score/rating, miles driven each year, and multiple cars and drivers. Also keep in mind that premiums differ from provider to provider. To verify you’re still getting the cheapest rate, compare Iowa auto insurance quotes online.
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Major Car Insurance Factors in Cedar Rapids
There are many ways in which your car insurance rate can be calculated. But not all of it is out of your control; there are things you can do to be able to influence what discounts you are entitled to receive. Listed here are a few of these components in greater detail:
Your Zip Code
Your auto insurance rates may differ depending on where you call home. In general, highly populated cities have higher auto insurance rates because the extra amount of drivers on the road increases the likelihood of an accident! The population of Cedar Rapids is 128,429 and the median household income is $49,809.
If your zip code has high accident rates, then odds are you will have to face higher insurance premiums than drivers in nearby cities. Take a look at the chart above, and talk to your insurance company about safe driver discounts if you think these numbers may be influencing your rate.
Auto Thefts in Cedar Rapids
Living in a large city (Especially one with a high crime rate) will increase your risk of being a victim of auto theft. If your general location has high rates of theft and claims, you can expect to pay more for auto insurance to offset these costs. The total number of stolen vehicles in Cedar Rapids was 254 back in 2013, which means that auto thefts are on the rise. Protect yourself today by talking to your insurance agent about Comprehensive coverage.
Your Credit Score
Your credit score is one of those elements which you probably don’t think about often, but has a significant influence nonetheless. For those with good or even excellent credit, you can look forward to really low monthly rates. Those with poor credit, however, might face monthly charges which are significantly higher.
Young drivers face a particularly harrowing burden when paying for their first auto insurance policy. Because of their inexperience, they are significantly more likely to get into a serious accident. That’s why some companies charge them 2x-3x higher premiums than someone twice their age.
Your Driving Record
As one would expect, the cleaner your driving record is, the less you can expect to pay for your automotive insurance each month. However, your rates will likely go up if you start collecting speeding tickets or other moving violations. Some companies offer “Accident forgiveness” discounts, which might be helpful if your record is less than perfect.
If you have a common, inexpensive car, it will be much easier to fix or replace should the worst happen than an expensive, luxury vehicle. And an inexpensive car doesn’t require an extensive, comprehensive insurance policy.
Minor Car Insurance Factors in Cedar Rapids
The factors below may also have an influence in your monthly premium, although they might be a little harder to control:
Your Marital Status
It’s not that being married makes you more or less likely to get into an accident, statistically speaking. However, insurance companies love it when you bundle policies together. Spouses are in a great position to save by giving their insurance company what they want and bundling their policies. You can even bundle homeowners, renters, or other forms of insurance (as long as all policies are offered by your insurer).
For most insurance providers, there is little more than a 1-3% difference in rates between men and women – if they charge a different rate at all. In the grand scheme of things, all other factors being equal, your gender doesn’t make it significantly more or less likely to get into an accident.
Your Driving Distance to Work
The typical commute to work in Cedar Rapids can last anywhere from 9-19 minutes on average. An overwhelming majority of motorists drive their own car to work alone; nearly 80%. Fewer than 8% prefer to carpool with co-workers.
It doesn’t matter why you drive, or how many miles you drive each year – even though insurance companies do tend to ask such questions. In reality, your answers will only change your premiums by a few percentage points. Business vehicles, however, tend to cost around 10-13% more to insure on average.
Your Coverage and Deductibles
Most auto insurance providers offer some flexibility when it comes to your policy. For example, you can reduce your monthly payments and increase your coverage by asking to raise your deductible. Yes, it may make repairs or replacements more expensive, but you can save up the extra money with lower payments.
Education in Cedar Rapids, IA
While a great number of Cedar Rapids drivers have a high school diploma, there is also a slightly smaller fraction of motorists who have obtained a bachelor’s degree. These people will undoubtedly be saving money on their car insurance, despite their job title or salary, because providers often give discounts to those who have furthered their education.
The immediate Cedar Rapids area is home to six different colleges. Three of those are private institutions for the liberal arts: Mount Mercy College, Coe College, and Cornell College, which falls into the highest 7% of US colleges and universities. Kirkwood Community College and Hamilton Business college offer more specialized training for working adults.
Finding affordable auto insurance can be a hassle. There’s a lot of information you need to consider and, figuring out how insurance companies evaluate your potential risk can be complicated. But don’t let the wrong insurance company talk you into purchasing the wrong policy.
How We Conducted Our Car Insurance Analysis
*We calculated our average rate based on the following metrics: a married, 34 year old male with good credit, a 12-month history of maintaining auto insurance, a clean driving record, who owns his own home. Miles driven annually were based on the national average. The average rate was also calculated based on a financed 2015 Honda Accord with a pre-installed anti-theft device.
These Companies Offer Cheap Auto Insurance in Cedar Rapids, IA – Act Now