Finding SR-22 car insurance in Iowa can take a little research. If you’ve found yourself or someone you know in need of SR-22 car insurance in Iowa, keep reading for a quick overview of everything you need to know to get started.
Minimum Required Insurance in Iowa
Like most states, you have to have a minimum of liability insurance to drive legally in Iowa. Iowa liability insurance must cover up to:
- $20,000 for bodily injury per person involved in the accident.
- $40,000 for maximum bodily injury payout per accident.
- $15,000 for property damage per accident.
As you shop for car insurance, you’ll often see these coverage amounts either written out like they are above or in the following two formats:
When in those formats, the numbers should always represent bodily injury/maximum bodily injury/property damage.
Keep in mind that liability insurance doesn’t cover the driver who holds the policy. It’s meant to cover the costs of injury and property damage of other people involved in an accident. if the policyholder of an SR-22 insurance plan wants to protect themselves and their property, they should upgrade to collision coverage and possibly comprehensive.
What Is SR-22 Insurance?
If a driver is required to have SR-22 insurance, it’s generally to show their state’s Department of Transportation that they have at least the minimum amount of car insurance coverage. SR-22 forms are generally required after the driver has been deemed high-risk due to a history of driving violations, such as reckless driving, driving under the influence (DUI), and driving while intoxicated (DWI).
Simply put, the SR-22 form is proof that the driver has the insurance they need to stay legal on the road. However, it also means that the driver is going to pay more for insurance. Another problem with acquiring SR-22 insurance is that not every insurance provider offers it, especially the major household names.
SR-22 Insurance in Iowa
In Iowa, you generally have to have an SR-22 on file for a minimum of two years. Since someone with SR-22 car insurance is more likely to pay a higher premium than someone with the same plan without an SR-22 requirement, it’s important to shop around to find a plan that works for them.
Keep in mind that there is also a fee for filing for SR-22 insurance. This amount depends on the insurance provider the driver chooses, but it can range anywhere from $15 to $50. The insurer files the SR-22 form to the state department for the driver.
Other fees someone filing for SR-22 insurance in Iowa might have to pay include a $20 fee to reinstate their driver’s license and a $200 civil penalty fee.
Once it’s time to switch an SR-22 insurance plan to another type or cancel it entirely, the person signed up for the plan needs to notify the insurance company that provided the plan. The insurance company will then cancel the SR-22 filing with the state.
Non-Owner SR-22 Car Insurance
If someone has been ordered to provide the Iowa Department of Transportation with an SR-22 filing but they don’t own a car, they can file for non-owner SR-22 car insurance.
To qualify for non-owner SR-22 insurance, the person filing has to meet three criteria:
- They can’t own a car.
- They can live with someone who owns a car.
- They have to have been ordered to file an SR-22 with the state.
Non-owner SR-22 insurance may be a more affordable option for those who need SR-22 even if they don’t plan on driving. This type of insurance plan can still cover the minimum liability coverage that Iowa requires of its drivers without the policyholder having to cover a specific vehicle. The policyholder’s license will have to be reinstated to file for non-owner SR-22 car insurance.
Keep reading to see how you can get the cheapest SR-22 car insurance rates in Iowa.
How to Find Cheap SR-22 Insurance in Iowa
In 2021, SR-22 insurance in Iowa cost an average of $354 per year, according to WalletHub. This is 9% more expensive than car insurance rates without an SR-22 requirement.
According to ValuePenguin, State Farm and USAA on average offered the cheapest SR-22 insurance rates in 12 states. It is possible to file for an SR-22 from another state, as long as the SR-22 car insurance covers the minimum for both Iowa and the state it was filed in. This may be a good option for those who can’t find a rate that’s manageable for them in Iowa.
Drivers who need SR-22 car insurance in Iowa don’t have to stick to the big insurance names to find what they are looking for. Often, companies that specialize in insuring high-risk drivers have the best rates for SR-22 car insurance. Get quotes from smaller companies to see if they might offer something more manageable for your situation.
Get SR-22 insurance quotes from multiple companies to get the best rate for your situation. Depending on the nature of your reason for needing an SR-22, your annual rates might be higher or lower than the average. Other factors that influence the price of SR-22 insurance include driving history, age, credit score, and the year, make, and model of the driver’s vehicle.
When you decide on an SR-22 car insurance plan that works for you, be sure to ask your insurance agent about any discounts that you may be eligible for. You may be able to lower the cost of your SR-22 insurance by opting for paperless billing, your veteran status, taking defensive driving courses, and more.
Cheap Car Insurance in Iowa
If you want to know where to start looking for your SR-22 insurance, start with the companies that already offer low insurance rates. According to ValuePenguin, Iowa’s most affordable annual payments for liability-only plans come from the following:
- State Farm: $198
- Wadena: $215
- Auto-Owners: $239
- Farm Bureau: $258
- American Family: $217
- Grinnell: $382
Hopefully, this overview helps you navigate your way through the sometimes confusing world of insurance and getting an SR-22 in Iowa. If you have any more questions, feel free to take a look at the resources in the blog section.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.