Here in IOWA, we pay the lowest rates in the nation!!
Iowa has lowest auto insurance
By The Associated Press
DES MOINES -- Maybe it's the uncongested roads or the honest drivers, but whatever the reason, Iowa is once again paying the least for automobile insurance.
According to the National Association of Insurance Commissioners, the average annual premium in Iowa in 2003 -- the latest year for which statistics are available -- was $679.
That's nearly a third less than the national average of $939 and just half of what drivers pay in the costliest state, New Jersey.
"That's a nice surprise, especially now that I'm paying more for gasoline," said Scott Valbert. He moved to Des Moines from Charlotte, N.C., in June and estimated that his auto rates have dropped 30 percent.
Officials at the Iowa Insurance Division cited low population density, traffic enforcement and good roads as some of the many reasons behind the state's best-of-show ranking.
Bob Skow, chief executive officer of the Independent Insurance Agents of Iowa, credited the good rates to, among other things, a good regulatory system that has encouraged hundreds of insurers to offer policies in Iowa, and a legal system that is fair but doesn't often produce large verdicts.
"Iowans are good drivers. Good, responsible people," Skow said.
The association's study totals the combined average premium paid for bodily injury and property damage liability, collision and comprehensive coverages.
Even with the lowest cost, Iowa drivers are paying more because premiums have increased 25 percent in five years, the study shows. Nationally, rates rose 19.6 percent during the same time.
Iowa recently raised speed limits on most interstate highways to 70 mph from 65 mph. That could affect rates, Chance said, "but how much, I don't know."
Iowa has lowest auto insurance
By The Associated Press
DES MOINES -- Maybe it's the uncongested roads or the honest drivers, but whatever the reason, Iowa is once again paying the least for automobile insurance.
According to the National Association of Insurance Commissioners, the average annual premium in Iowa in 2003 -- the latest year for which statistics are available -- was $679.
That's nearly a third less than the national average of $939 and just half of what drivers pay in the costliest state, New Jersey.
"That's a nice surprise, especially now that I'm paying more for gasoline," said Scott Valbert. He moved to Des Moines from Charlotte, N.C., in June and estimated that his auto rates have dropped 30 percent.
Officials at the Iowa Insurance Division cited low population density, traffic enforcement and good roads as some of the many reasons behind the state's best-of-show ranking.
Bob Skow, chief executive officer of the Independent Insurance Agents of Iowa, credited the good rates to, among other things, a good regulatory system that has encouraged hundreds of insurers to offer policies in Iowa, and a legal system that is fair but doesn't often produce large verdicts.
"Iowans are good drivers. Good, responsible people," Skow said.
The association's study totals the combined average premium paid for bodily injury and property damage liability, collision and comprehensive coverages.
Even with the lowest cost, Iowa drivers are paying more because premiums have increased 25 percent in five years, the study shows. Nationally, rates rose 19.6 percent during the same time.
Iowa recently raised speed limits on most interstate highways to 70 mph from 65 mph. That could affect rates, Chance said, "but how much, I don't know."
I love that man with all my heart, but I hate being lumped into the same category with him when it comes to our insurance.
Took me over 3 years to settle my case (and the other drive was completely at fault - that wasn't even a question!)
