Waterloo Car Insurance

Your Complete Guide to Waterloo, IA Car Insurance

(And why an independent agent is the way to go.)

Waterloo Iowa car insurance

Waterloo is the epicenter of all things government, healthcare, and manufacturing. This Midwestern town is home to John Deere, and is full of diversity and rich history. 

If you are driving the streets of this city, you'll want car insurance. An independent agent can help you find the best policy at the right price. Click on this tool independent insurance agent to find an independent agent and start saving.

Why You Should Consider Auto Liability in Waterloo, IA

Liability insurance is the backbone of your auto policy. It's where your policy starts and is usually the first coverage used. Liability insurance will protect against a lawsuit when involved in an accident. Let's take a look at what auto liability will cover:

  • Medical expenses for bodily injury of another party
  • Expenses for damage to another party's vehicle or property

Your auto liability limits can start as low as the state minimum requirements and go up to $1,000,000. If you want even more protection, then an umbrella policy can help. 

Umbrella Insurance

An umbrella insurance policy will provide an additional limit of liability above and beyond your underlying home and auto policies. The umbrella's liability limits will be accessed when your underlying policy limits have been exhausted due to a claim. 

Discuss limit options for your auto and umbrella policies with your Waterloo independent agent.

Auto Insurance Coverage Requirements in Waterloo, IA

Iowa has state minimum limits that are mandated to use its streets. If you fail to get coverage, you could be fined or jailed. Keep in mind that the required liability limits are low, and more coverage is usually needed. Let's look at the minimum car insurance requirements for Waterloo, IA:

  • A minimum liability limit of $20,000 per person/ $40,000 per accident/ $15,000 property damage

If you're not sure what limit of liability you should get, speak with your local agent. They can do an insurance analysis to determine your assets and what coverage you need to have proper protection.

Other Optional Car Insurance Coverage in Waterloo, IA

Additional coverage options are available on your auto policy. These coverages range in kind and price. The vehicles you own and drivers you insure will determine which coverage options you need.

  • Gap insurance: This will pay the difference between the amount left on your car loan and your totaled car's value. 
  • Towing insurance: This will pay for a tow of a scheduled auto.
  • Rental car insurance: This will pay for a rental car while a covered auto is being repaired or replaced.
  • Comprehensive insurance: This will pay if your vehicle is damaged by something other than a collision, such as fire, vandalism, theft, or hitting an animal.
  • Collision insurance: This pays for damage caused by a collision with another car or property.

It's a good idea to discuss these additional coverage options with your Waterloo independent agent. They can help point you in the right direction and make sure you have the auto policy you need.

Uninsured Motorists in Waterloo, IA

At some point, all drivers will share the road with someone who lacks insurance. These uninsured drivers put you and your loved ones at risk. Since not everyone follows the rules, you'll have to protect yourself with proper coverage.

  • National percentage of uninsured drivers: 13.0%
  • Iowa percentage of uninsured drivers: 8.7%

Uninsured/underinsured motorist insurance will pay for expenses arising out of a claim with an uninsured driver. If another party is at fault and doesn't have coverage, this will kick in on your behalf. Speak with your Waterloo agent today about uninsured/underinsured motorist coverage. 

Vehicle Break-Ins in Waterloo, IA and Your Car Insurance

The theft rate in a city will play a part in your car insurance premium. If the crime rate is higher, than you can expect to be surcharged by the carriers. The insurance companies have to make up for their losses, and theft claims can get pricey. Let's look at average theft rates (per 1,000 vehicles):

  • National average: 2.37
  • Iowa average: 1.59
  • Waterloo average: 1.25

With Waterloo having a pretty low theft rate, your car insurance costs are likely to be less expensive than in other cities. The best way to determine exactly what your premiums will be is to get quotes from your Waterloo agent. 

What Does Car Insurance Cost in Waterloo, IA?

Car insurance premiums are individualized. Since each person has different rating factors, your car insurance premiums will look different. Take a look at the leading rating factors below:

  • Location 
  • Crime rate
  • Credit score
  • Discounts that apply
  • Age
  • Claims history
  • Coverage selected
  • Motor vehicle record
  • Number of vehicles and drivers in the household

Average Annual Car Insurance Premiums:

  • National average: $1,005
  • Iowa average: $1,352

Your specific premiums could be the same as or different from the state and national averages. To get customized quotes, chat with your independent insurance agent. 

If You Drive for Uber in Waterloo, IA

Your personal auto policy probably excludes coverage for livery or rideshare services such as Uber. Since a livery service is not acceptable, a claim would be denied, and the policy could be canceled. 

Livery or Rideshare Services:

These services refer to drivers who get compensated for transporting people, parcels, or food while using their personal vehicle.s 

While you may already be driving for Uber or another rideshare service, a call to your agent is wise. Since you are carrying out business operations, your agent could suggest a commercial auto policy to cover your exposures. Make sure you have adequate coverage in place in the event of a loss.

Your Waterloo, IA Independent Agent

When choosing an agent, it's important to get competitive rates and proper coverage. An independent insurance agent can do both and provide multiple options. They work with several carriers and can do the comparison shopping for you. Go to TrustedChoice.com  to find a Waterloo independent agent today. 

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