Car Insurance in Iowa

Car Insurance in Iowa

In Iowa, you can choose whether or not to buy car insurance; however, if you get into an accident or you lose your driving privileges, you must be able to show proof of financial responsibility right away.

The easiest way to fulfill this requirement is to purchase an Iowa car insurance policy.

Iowa Financial Responsibility Laws

While there is no specific law stating you must purchase Iowa car insurance, if you get into an accident (or if your license was suspended or revoked), you have to show proof of financial responsibility to the Iowa Department of Transportation (DOT).

If you do not show proof of financial responsibility when required, the DOT willsuspend your driving and registration privileges.

Post-Accident Requirements

In Iowa, if you are driving or own a vehicle involved in an accident that results in bodily injury, death, or total property damage of $1,500 or more, you have to file an Accident Report Form (Form Form 433002) (even if you weren’t at fault) with the Iowa DOT’s Office of Driver Services within 72 hours. The only exception is if the accident was investigated by a police officer and that officer files a report.

You must also prove your financial responsibility or face license suspension. You can do so in any of the following ways:

• Provide proof that you had liability insurance (see “Iowa Car Insurance” below) when the accident occurred.
• Post one of the following payable to “Office of Driver Services”:
  • Cash.
  • Certified check.
  • Cashier’s check.
  • Bank draft.
  • Postal money order.
• Obtain a release from every involved party.
• File a statement agreeing to cover the costs to the injured or damaged parties on an installment plan.
• Get a decision from a civil damage action that excuses you from any liability.
• Complete a warrant for confession of judgment that has an agreement upon payment schedule.
• Submit evidence of a settlement for damages and/or injuries.

EXCEPTIONS: You DO NOT have to submit proof of financial responsibility after an accident IF:

• At the time of the accident, your vehicle was legally standing, stopped, or parked.
• Someone was driving your vehicle without your permission at the time of the accident.
• You were the only person to incur injuries or property damage as a result of the accident.

Post-Suspension Requirements

If your Iowa driver’s license was suspended or revoked due to an OWI (operating while intoxicated) offense, you have to show proof of financial responsibility for any future injuries or damages you might cause.

You must have proof of financial responsibility on the effective date of your suspension or revocation; it must last 2 years.

Once you receive your notice of suspension, you’ll need to submit future proofthrough one of the following methods:

• File an SR-22 form with the DOT’s Office of Driver Services. Your Iowa car insurance company will file the form for you.
  • This Certificate of Automobile Liability guarantees you’ll hold car insurance for a specified period of time (see “Iowa Car Insurance” below).
• File one of the following for $55,000:
  • Surety bond.
  • Securities.
  • Cash.

NOTE: Special circumstances apply if you need to drive a vehicle owned by your employer or by someone who is issued a certificate of self-insurance.

SR-22

If you are required to submit an SR-22, you’ll need to have the at least minimum amounts of liability insurance.

Iowa Car Insurance

While you are not legally required to purchase a car insurance policy in Iowa (unless your license was suspended or revoked), many people find that it is the best option for proving financial responsibility.

An insurance policy will include the basic liability insurance for bodily injury andproperty damage that you may cause to others in an accident.

Additionally, you’ll also have the option to purchase one or more of the following types of coverage:

• Medical payments coverage – Helps cover your medical costs after an accident.
• Collision coverage – Helps pay for damages to your vehicle in an accident you caused.
• Comprehensive coverage – Covers costs in an event that is not accident-related, like fire, theft, or vandalism.
• Loan/lease gap coverage – Helps balance the difference between the actual cash value of your vehicle after an accident and the amount you owe.
• Rental reimbursement coverage.
• Towing and labor coverage.

Proof of Insurance

When you purchase an Iowa auto insurance policy, the company providing the coverage will send you an insurance card.

Keep this card in your vehicle at all times so you are ready to submit it to the appropriate authorities in the event of an accident.

Insurance Questions and Concerns

Insurance can sometimes get complicated. If you have issues with your insurance provider or policy, the Iowa Insurance Division (IID) can help. If you have a question, you can contact the IID toll free in Iowa at (877) 955-1212.

You can also send questions to market.regulation@iid.iowa.gov.

Filing a Complaint

If you have a concern and wish to file a complaint with the IID, you can do so*:

• Online.
• By downloading and completing the Consumer Complaint form.
  • Send the completed form to the address or fax number on the form.

* Review the IID’s tips for filing a complaint prior to submitting one.

Insurance Fraud

When someone commits insurance fraud, the costs that the insurance companies incur get passed down to you in the form of higher rates.

To keep insurance premiums low for everyone, it’s important to report fraud when you suspect it.

You can do so by:

• Filing an online complaint at the National Association of Insurance Commissioners website.
  OR
• Downloading and completing the Insurance Fraud Complaint Form.
  • Mail it to the address listed on the form.

Determining Your IA Car Insurance Rates

When you choose to buy a car insurance policy in Iowa, the following factors will likely be used to set your rates:

• Your driving record.
• Your claims history.
• Your:
  • Marital status.
  • Age.
  • Gender.
• The location of your car’s parking spot.
• The main use of your vehicle.
• The make, model, and year of your vehicle.
• Any prior coverage.
• Your credit history.

Car Insurance Discounts

When comparison-shopping for an Iowa car insurance policy, asking about discounts is a great way to save money on your premium. You can often get a discount for:

• Owning a home.
• Insuring multiple cars.
• Paying your premium in full.
• Being a good student (a B average is typically required).
• Switching insurance providers.
• Having an accident-free record.

While discounts can help you get cheap car insurance quotes, the best way to save money is to drive safely! A clean driving record goes a long way to getting and maintaining low-cost auto insurance in Iowa.

Most Stolen Cars in Iowa

Driving a car that is often targeted for theft can mean higher car insurance rates.

The following is a list of Iowa's most stolen cars in 2013, according to www.nicb.org:

1. Chevrolet Pickup (Full Size).
2. Ford Pickup (Full Size). 
3. Dodge Pickup (Full Size).
4. Honda Accord.
5. Ford Taurus. 
6. Chevrolet Impala.
7. Chevrolet Pickup (Small Size).
8. Jeep Cherokee/Grand Cherokee.
9. Honda Civic.
10. GMC Pickup (Full Size).

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Car Insurance in Louisiana

Louisiana Car Insurance

As a resident of Louisiana, you are required to have car insurance. Those who drive without insurance are not only subject to penalties and fines, but being without insurance will also prevent you from making insurance claims regardless of who is at fault in the accident.

Read below to learn more about car insurance requirements, options, laws, and rates in Louisiana.

Insurance Regulation in Louisiana

Louisiana insurance is regulated by the Louisiana Department of Insurance (DOI).

The DOI’s responsibilities include:

• Reviewing and approving insurance rates.
• Making and enforcing insurance rules.
• Assisting consumers with concerns or complaints.
• Investigating insurance fraud.

Insurance Disputes

If you have an unresolved concern or dispute with your car insurance provider, you can file a complaint form online or request a form by phone:

• Complete the online complaint form.
• Contact the DOI at (800) 259-5300.

Your auto insurance company cannot raise your rates or cancel your policy for filing a complaint.

Required Car Insurance in LA

Louisiana state law requires that all drivers have liability coverage.

Liability insurance pays for damages or injuries that you cause in a car accident, up to the amount of coverage you have.

The minimum liability coverage limits required in Louisiana are:

• $15,000 of bodily injury coverage per person.
• $30,000 of bodily injury coverage per accident.
• $25,000 of property damage coverage.

Remember, you can always opt to purchase higher coverage limits for greater protection.

Insurance and Vehicle Registration

You must have valid liability insurance in order to register your car or renew your registration.

The LA Office of Motor Vehicles (OMV) will verify your car insurance electronicallyif you:

• Register a car bought from a dealer.
• Renew your registration online.

You must provide proof of insurance if you:

• Register a car bought from a private individual.
• Go to an OMV office to renew your registration.
• Transfer an out of state title.

The OMV accepts the following as proof of insurance:

• An insurance card issued by your auto insurance company.
• A copy of your insurance policy.
• A copy of your policy declaration page.
  OR
• A statement from your insurer that MUST:
  • Be on your car insurance company’s letterhead.
  • Be signed by your insurance agent or a representative of the company.
  • Have a complete description of your vehicle.
  • Have your vehicle identification number (VIN).

Optional LA Car Insurance

You can buy several additional types of coverage that pay for damage and injury costs not covered by liability insurance:

• Collision coverage: Pays for accident-related repairs to your vehicle.
• Comprehensive coverage: Pays for repairs to your vehicle from damage caused by other factors, such as theft or severe weather.
• Uninsured/underinsured motorist (UIM) coverage: Pays for expenses you incur in an accident caused by someone with no insurance or too little insurance.Types of UIM are:
  • UIM bodily injury coverage to pay for your medical treatment.
  • UIM property damage coverage to pay for your vehicle repairs.
  • UIM economic-only coverage, which pays only for actual costs of medical treatment.It doesn’t cover pain and suffering.
• Medical payments coverage: Pays for medical expenses, including funeral expenses, for a certain period of time after an accident, regardless of who is at fault.
• Rental reimbursement coverage: Pays for a rental car after an accident.
• Towing and labor coverage: Pays for towing and some repair costs.

NOTE: If you finance or lease a vehicle, your lender will require you to buy collision coverage and comprehensive coverage.

Car Insurance Violations & Penalties

The main reasons you might face penalties with regard to insurance are:

• You are unable to provide proof of current insurance.
• Your policy has been canceled.
• There’s been a lapse in your policy.

Proof of Insurance

The Louisiana OMV has several ways to verify your auto insurance:

• Car insurance companies must notify the OMV of canceled or expired car insurance policies.
• You must show proof of insurance if stopped by a police officer or involved in an accident.

Proof of insurance can be shown with:

• An insurance card (or copy) issued by your car insurance company.
• An image of your insurance card on a mobile device.
• The declaration page of your insurance policy.
• The insurance policy itself.

If you are caught driving without proof of insurance, a police officer can either:

• Remove your license plate and give you a Temporary Vehicle Use Authorization, allowing you to operate your car for 3 days to give you time to provide proof of insurance to the Office of Motor Vehicles.
• Impound your vehicle.

Car Insurance Cancelation

Your auto insurance company can cancel your insurance policy within 60 days of purchase.

If your policy is canceled, they must notify you within:

• 10 days, if it’s canceled because you didn’t pay your premium.
• 20 days, if it’s canceled for a traffic violation, accident, or any other reason.

After 60 days, your car insurance policy can be canceled ONLY if:

• You do not pay your insurance premium.
• You make a false claim.
• You or someone in your home gets a driver’s license or vehicle registration suspension.

Again, your insurance company must notify you of any cancelation or nonrenewal:

• Within 10 days if it’s canceled because you didn’t pay your premium.
• Within 30 days by certified mail if it’s canceled for any other reason.
• No later than 20 days prior to expiration if they aren’t renewing your policy.

If your policy is not renewed, you can request the reason in writing and expect a refund of any pre-paid premiums within 30 days.

Reinstating Your Driving Privileges

If your Louisiana car insurance is canceled or has lapsed and you receive a Notice of Violation, you must:

• Acquire minimum liability insurance.
• Take proof of insurance to an OMV office.
• Pay a fine of up to $100 on your first offense, and $250 on a second offense. Subsequent offenses can lead to fines up to $700.
• Pay a reinstatement fee (the fee varies depending on the number of days you drove without insurance.)

If you have car insurance but failed to show proof at the time it was requested, you must take your proof of insurance to an OMV office:

• If you show proof within 3 business days, the insurance violation will be dropped and your license plate and/or vehicle will be released.
• If you show proof after 3 business days, you will have to pay a fine before your license plate and/or vehicle are released.

SR-22 Certification

After an insurance violation, you may also be required to get an SR-22 certification (also known as SR22 insurance or proof of future financial responsibility) from your auto insurance provider.

SR-22 certification is a form provided by your car insurance company to the OMV thatguarantees coverage for a period of time as determined by the LA OMV.

Your insurance company and the OMV will charge you for SR-22 certification.

If you allow your SR-22 to lapse, you will have to pay a $60 fee to the OMV.

SR-22 certification may also be required to have your driver’s license reinstated if it’s been suspended.

“No Pay, No Play” Law

Louisiana’s “No Pay, No Play” law limits the damages uninsured motorists can collect for property damage and/or personal injuries.

Regardless of who is found at-fault, if you were involved in a car accident while you were behind the wheel, you CANNOT collect:

• The first $25,000 of a property damage claim.
• The first $15,000 of a bodily injury claim.

Note to passengers: If you are the passenger in a car driven by an uninsured driver and are injured, you can still collect damages.

However, if you are a passenger in a car you own (and which you do not have insurance on), you are still prevented from collecting the amounts above.

Remember! Anyone can get into an accident at any time. If you don’t have car insurance, the “No Pay, No Play” law could end up costing you much more than if you’d purchased a car insurance policy.

Car Insurance for High-Risk Drivers

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Insurance violations and other violations on your driving record can make you a high risk to insure, and you may have a hard time finding car insurance.

If you have shopped around and cannot find an auto insurance provider to cover you, the Louisiana Automobile Insurance Plan (LAIP) allows high-risk drivers to get auto insurance from agents who voluntarily participate in the plan.

To get more information about eligibility and participating insurers, contact the LAIP at E-mail: laip@aipso.com.

NOTE: Insurance through the LAIP can be expensive, so be sure you have contacted as many car insurance providers as possible before seeking LAIP assistance.

Insurance Fraud

The Louisiana DOI investigates reports of insurance fraud.

Common forms of fraud include:

• Filing a false or exaggerated claim.
• Providing false information to an insurance company.

You can report fraud by phone at (800) 259-5300. Your name can be kept confidential if you prefer.

Car Insurance Rates in LA

Many factors affect your Louisiana car insurance rates. Insurers use your driving history and other details to rate their risk of insuring you, which determines:

• Your insurance premium.
• Any applicable discounts.

In Louisiana, your car insurance premium may be based on a combination of factors, such as your:

• Age and gender: Younger, male drivers usually have the highest premiums.
• Residential area: Residents of major cities usually have higher premiums than those of less populated areas.
• Car’s make and model: More economical cars are typically cheaper to insure than expensive cars.
• Driving record: Tickets or accidents can raise your rates.
• Deductibles: Choosing a higher deductible can reduce your premiums.

Louisiana law allows insurance companies to use your credit in determining your ability to pay insurance premiums.

Did you know insurers can use your driving record to determine your premium?Check your driving record today and make sure it’s accurate!

Auto Insurance Discounts

In addition to these factors, you may qualify for discounts. Louisiana car insurance companies commonly offer discounts for:

• Safety equipment like air bags or car alarms.
• Defensive driving courses or driver’s education courses.
• Good grades.
• Insuring multiple cars or buying multiple policies.

To find the most affordable rates from companies that offer discounts you qualify for, shop around for the best car insurance quotes, ask about available discounts, anddrive safely to maintain a good driving record.

Most Stolen Cars in Louisiana

If you own a car that is highly targeting for theft, you may get hit with higher car insurance rates.

The following is a list of 2013's most stolen cars in Louisiana according to www.nicb.org:

1. Chevrolet Pickup (Full Size).
2. Ford Pickup (Full Size).
3. Dodge Pickup (Full Size).
4. Honda Accord.
5. GMC Pickup (Full Size).
6. Chevrolet Impala.
7. Nissan Altima.
8. Toyota Camry.
9. Chevrolet Tahoe.
10. Nissan Maxima. 

Continue Reading…