Iowa Insurance Division
Contact: Scott Kinney, Communications Director
330 Maple Street
Des Moines, Iowa 50319
Tuesday, July 23, 2002
FOR IMMEDIATE RELEASE
IOWA’S AUTO INSURANCE RATES CONTINUE
TO BE THE LOWEST IN THE COUNTRY
Governor Vilsack applauds Iowans for their role in keeping rates low.
DES MOINES – Iowa consumers continue to enjoy the lowest automobile insurance rates in the country. That is
according to a 2002 update of a study released by the National Association of Insurance Commissioners (NAIC).
The study, which included the District of Columbia, ranked Iowa lowest in the nation for combined average auto
insurance rates. The rank is based on the average cost of personal auto insurance for liability, collision, and
comprehensive coverages in each state.
"Iowans should be commended for their role in continuing low-cost auto insurance rates in our state," Governor Tom
Vilsack said. "Iowa's competitive insurance marketplace and citizens' proficient driving is a major factor in keeping
The combined average auto insurance premium in Iowa is $557.67. New Jersey topped the list with an average auto
insurance premium of $1,146.39 - doubling that of Iowa's average rate. Last year, Iowa ranked first in the nation
with a combined average premium of $543.44.
Even with the low average rate, individual rates for auto insurance can vary significantly from company to company.
Factors such as the type of automobile, who the primary driver is and where the automobile is kept can influence
rates. It is important that consumers shop around to find the best coverage at a reasonable price and compare
premiums, coverage, exclusions, limits, deductibles, service and conditions under which a company might not renew
"Iowa's competitive rates give consumers many options to find auto insurance to fit their needs. We encourage
consumers to review their policy regul