The state of Iowa can require a driver who committed one or more infractions that make them a higher risk to file an SR-22 form. This form is also called a proof of financial responsibility or certificate of financial responsibility, as it’s a confirmation that you are prepared to pay for and upkeep the proper minimum insurance a court ordered you to maintain. Here’s everything you need to know about getting cheap SR-22 insurance in Iowa.
What Is the SR-22 Insurance Form?
After a dangerous or serious driving infraction or even non-driving issues like multiple parking tickets, you may get a court order to secure an SR-22 form with your insurance policy. However, the SR-22 is technically not a type of insurance, but rather a document that insurance companies file with the state motor vehicle department. The form guarantees that the policy you’re buying meets your minimum car insurance requirements and stays on your record for two years.
Sometimes Iowa SR-22 insurance forms are only proving you meet minimum car insurance requirements for the state, also called standard coverage. However, some states can ask for an SR-22 to prove you are buying full coverage, depending on the severity of the circumstances. The Iowa Department of Transportation is more forgiving than some regarding SR-22 insurance. You are more likely to only need standard coverage, which is:
- $20,000 of bodily injury or death liability coverage for one person in one accident
- $40,000 of bodily injury or death liability coverage for two people in one accident
- $15,000 of bodily injury or destruction of others’ property in one accident
Plans like these are usually described in a three-number format, like 20/40/15. In Iowa, full coverage is a catch-all for coverage beyond that minimum. Unlike some other states, there isn’t an exact ratio of coverage considered “full,” and the coverage you have to carry will depend on your case.
How Expensive Is SR-22 Insurance in Iowa?
The average cost of standard car insurance coverage in Iowa is $326 per year, and the cheapest providers of SR-22 insurance can match or even slightly beat that price. In general, though, your standard coverage premium is probably going to be higher than it was after filing an SR-22. Having a DUI, for instance, can raise your car insurance premiums by around 70% in Iowa. No matter what happens, you can still minimize your monthly and annual costs by picking the right company.
The Cheapest SR-22 Insurance in Iowa
For most situations that would cause you to file an SR-22, the cheapest insurance provider in Iowa is State Farm. For drivers with an SR-22, here are the average annual costs for coverage by company:
- State Farm: $302
- Progressive: $345
- USAA: $371
- American Family: $441
- GEICO: $443
- Farmers: $554
- Allstate: $635
- Metlife: $651
- Farm Bureau Mutual: $664
- Allied: $686
If you have a company that does not handle SR-22 forms, you will have to change to one that can. There’s a good chance that State Farm will be the most affordable option for you, but the numbers above are averages. You should shop around at the lowest three or a few of the most fitting companies, depending on your situation. That way, you’ll know for sure who can give you the coverage you need at the lowest price.
There are variations in average prices for post-SR-22 Iowa car insurance. For instance, even though Progressive comes in second place overall for SR-22 Iowa insurance, Progressive is also the second-priciest company in Iowa on average for coverage after a car accident. As noted, the reason why you were required to get an SR-22 filed will have a large influence on what you end up spending every year.
Iowa SR-22 Insurance by Type
The cheapest car insurance provider in Iowa for most drivers who require an SR-22 is going to be State Farm, and State Farm also happens to be the best in the state for full coverage. Let’s compare the average SR-22 coverage prices by company under different circumstances.
Cheapest Iowa SR-22 Full Coverage Provider After an Accident
There’s a good chance that getting in an accident will cause you to require something beyond standard Iowa coverage. As a result, your overall insurance costs will rise. The average annual rates for the five cheapest companies for Iowa residents seeking full coverage insurance after an accident are:
- State Farm: $870
- IMT: $1,667
- Auto-Owners: $1,727
- Grinnell: $1,917
- American Family: $2,352
After an SR-22 that requires you to switch to full coverage, you might have better luck with one of these companies. State Farm is definitely in the lead and worth switching to if possible. By contrast, GEICO, Nationwide, and Progressive are some of the most expensive companies for post-accident Iowa full coverage insurance. That said, Progressive has the deepest coverage discounts for married drivers.
Cheapest Iowa SR-22 Insurance After a DUI
IMT tops the list of cheapest companies in this category, followed by State Farm:
- IMT: $2,002
- State Farm: $2,209
- Auto-Owners: $2,293
- Allstate: $2,397
- Progressive: $2,639
Cheapest Iowa Insurance After a Speeding Ticket
Multiple speeding tickets in the same period can lead to an SR-22 order, and even just one will raise insurance premiums a little. State Farm leads the cheapest companies once again:
- State Farm: $817
- IMT: $1,415
- Auto-Owners: $1,561
- Farm Bureau: $1,594
- American Family: $1,803
How Do You Get an SR-22 Insurance Form Filed in Iowa?
You can contact the Iowa DOT to confirm whether you require an SR-22 certificate. If so, ask your insurance company to file it, which will usually cost a one-time fee of $15-25 depending on the company.
Remember: If you are mandated to file an SR-22 form and your current insurance carrier can’t do it, you will have to find a new provider. Along the way, you can shop around at the cheapest Iowa insurance companies for SR-22 filing drivers. Look up the best companies based on your driving record, and then use the time you have to pick a policy that costs you less over the next two years.
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.