Average car insurance cost in Cedar Rapids, IA

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According to data from Insure.com, the average annual cost of car insurance in Cedar Rapids, Iowa is $1,543. The auto insurance rates in Cedar Rapids is $87 less than the state average and $352 less than the national average.

Car insurance premiums vary significantly based on where they are filed. Factors such as city demographics, population density and average resident age, accident rates, theft, and vandalism rates will influence the amount of premiums you pay.

This article talks in detail about the most affordable car insurance companies in Cedar Rapids, the average car insurance rates by age and gender, and how much car insurance cost in Cedar Rapids depending on coverage limits. Whether you’re a new driver or an experienced one, this article will help you to find the most affordable car insurance in Cedar Rapids. Keep reading to learn more.

Cheap car insurance companies in Cedar Rapids

West Bend Insurance Company offers the most affordable car insurance in Cedar Rapids for coverage limits of 100/300/100 at $1,283 per year.

The State Farm comes close second offering car insurance at $1,292 per year.

As mentioned previously, car insurance quotes differ amongst companies due to the factors they consider when determining rates. Hence, it’s advisable to obtain quotes from multiple insurers to find affordable car insurance rates in Cedar Rapids that align with your needs before finalizing your insurance carrier.

Here are the average annual and monthly costs for the various car insurance companies providing coverage in Cedar Rapids, Iowa:

Read about the best car insurance companies.

Average car insurance cost in Cedar Rapids by coverage limits

In Cedar Rapids, the average car insurance rates based on coverage types are as follows:

• State minimum coverage: $314 per year (limits are 25/50/25)
• Liability only coverage: $380 per year (limits are 50/100/50)
• Full coverage: $1,543 per year (limits are 100/300/100)
• Non-owners coverage: $186 per year

In most states, drivers must have the state minimum coverage to drive legally, but these vary by state. However, state minimum coverage does not cover any vehicles listed on your policy in an at-fault accident.

To avoid compromising on the coverage and pay out-of-pocket expenses, it is better to have full coverage or non-owner coverage if you don’t own a car but borrow or rent one frequently.

Average car insurance rates by gender in Cedar Rapids

Based on an analysis by Insure.com, female drivers in Cedar Rapids, Iowa pay an average annual car insurance premium of $1,549. In comparison, male drivers pay $1,537 annually, which is $12 less than what female drivers pay.

According to the Insurance Information Institute, statistics indicate that women are generally considered safer drivers than men. Also, women pay less for car insurance due to the lower rate of severe accidents.

Read more on how gender affects car insurance rates.

Average car insurance rates by age in Cedar Rapids

In Cedar Rapids, teenagers have the highest car insurance rates, at $4,486 per year or $374 per month. This higher rate is attributed to the increased risk of road accidents among teenagers (aged 16 to 19) due to their limited experience on the road, according to the Insurance Information Institute.

However, there are driving laws for teens to improve their driving habits. Additionally, the cost of teen insurance can be reduced by adding them to a parent’s auto insurance policy. As teens mature and establish a positive driving history, their car insurance rates are likely to decrease.

Young adults, pay an average of $2,522 annually for car insurance, which is $1,964 less than what the teens pay for their insurance policy.

Meanwhile, adult, and senior drivers in Cedar Rapids have car insurance rates of $1,547 and $1,448 per year, respectively. The car insurance rates for adults and seniors are lower than those for teens and young adults. “This is because they are more likely to obey the speed limits and follow the rules of the road,” says the Insurance Information Institute.

Read more on auto insurance for seniors.

The table below shows the average annual rates for drivers of different age groups:

Car insurance rate trends in Cedar Rapids

If we look at the car insurance rates trends in Cedar Rapids, Iowa, it was on an upward swing from 2022 to 2023. From 2022 to 2023, the rates increase overall by 26%, or $322.

The table below shows the trend for last four years:

Conclusion

In conclusion, the insurance rates in Cedar Rapids, are lower than the average insurance cost in Iowa. Shopping around and taking advantage of available discounts, drivers in Cedar Rapids can find affordable car insurance options. Additionally, many car insurance companies offer discounts for customers who purchase multiple policies through the same company.

Sources

• Insurance Information Institute. “What determines the price of my auto insurance policy,” Accessed September 2024.
• Insurance Information Institute. “Auto insurance for teen drivers,” Accessed September 2024.
• Insurance Information Institute. “Senior driving safety and tips,” Accessed September 2024.

Methodology

Insure.com team worked with Quadrant Information Service to get car insurance data. To determine the average premiums, our team of data analysts and expert editors have analyzed 53,409,632 insurance quotes from 170 insurance companies across 34,588 ZIP codes.

The insurance rates are based on a sample profile of a 40-year-old male and female driver with a clean driving record and a good insurance score. Quotes premiums are for a full coverage policy with limits:

• $100,000 bodily injury per person
• $300,000 bodily injury per accident
• $100,000 property damage per accident
• $500 comprehensive and collision deductible

The quoted insurance rates are for comparison purposes, and your individual rates may vary.

Prachi Singh

Contributing Researcher

 

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Prachi is an insurance writer with a master’s degree in business administration. Through her writing, she hopes to help readers make smart and informed decisions about their finances. She loves to travel and write poetry.