In an attempt to protect motorists financially in the event of a collision, 48 states have implemented coverage requirements for liability insurance. Additionally, the Insurance Information Institute reports that 45 states have minimum limits for motorcycle riders.
In Iowa, for example, the compulsory coverage requirements include:
- $20,000 in bodily injury per claimant per accident;
- $40,000 in bodily injury total per accident; and
- $15,000 in property damage per accident.
In addition to the above policies, Iowa encourages drivers to purchase uninsured motorist coverage for optimum protection; however, motorists who do not want UM coverage can waive it by filing a written statement of acknowledgement with their provider. It is wise to obtain a policy that covers collisions with uninsured drivers, though, because they remain a serious problem around the country.
According to the National Association of Insurance Commissioners, approximately 1 in 8 drivers was uninsured in 2014. Fortunately, if you are thinking about waiving uninsured motorist coverage, there are steps you can take to make all of your policies more affordable.
In reality, though, you are still taking a considerable financial risk every time you get behind the wheel of a vehicle. If you were hurt in a collision with a drunk, distracted, or reckless driver and have incurred significant damages as a result, turn to Eells & Tronvold Law Offices, PLC.
We will help you gather essential evidence to prove fault and fight to hold all liable parties accountable for your damages. Call 319-393-1020 to schedule a free case evaluation with an accident attorney in Cedar Rapids.
Read on to learn how you can save on car insurance premiums in Iowa:
- Bundle Your Coverage
Many insurance companies are happy to offer discounts to their loyal customers. Ask your provider about any potential savings if you bundle car, life, and homeowners or renters insurance.
- Increase Your Deductible
Opting for a higher deductible will automatically lower your premium. Before you do so, though, make sure there is enough money in your emergency fund to cover the new deductible in the event of a collision.
- Follow the Rules of the Road
When it comes to your driving record, accident claims are not the only factor that will affect insurance rates. At the end of the day, committing any kind of violation that will result in points against your license can increase premiums. Keep costs down by following the law.
- Purchase a Reasonable Vehicle
When you’re in the market for a new car, PennyGeeks recommends that you look up the cost of insuring the make and model you are considering before actually purchasing it. This will ensure you consider all the costs of ownership before finalizing the sale, which will make it easier to stick to a reasonable budget.
Unfortunately, even if you follow all of the tips above and maintain an active policy, recovering compensation following a crash can still be challenging. If the insurance adjuster is refusing to work with you, turn to Eells & Tronvold Law Offices, PLC.
Contact us online or call 319-393-1020 to schedule a free consultation with an injury lawyer in Cedar Rapids. You can learn more about car accident claims in Iowa by visiting car-accident.usattorneys.com/iowa.
Eells & Tronvold Law Offices, PLC
1921 51st Street NE
Cedar Rapids, IA 52402