Iowa is one of the few states where buying auto insurance is not compulsory. All drivers are, however, required to show proof of financial responsibility. Buying insurance when you are buying a used car is always the better option, as opposed to paying cash or posting cashier’s checks after an accident. You cannot possibly foresee the expenses you will incur, and having the assurance that your insurance company will pay in case of an accident is worth the investment.
Auto insurance is not very expensive in Iowa, if you compare the rates with the other states. The average annual insurance rate in Iowa is $1,028, and this rate is even lower ($907) in Des Moines.
Consider the table below.
|City||Make||Model||Year Range||Insurance Average ($)||Median Price ($)||Insurance Percentage (%)|
|Des Moines||Honda||CR-V||2005 - 2012||729||21,991||3|
|Des Moines||Toyota||Corolla||2005 - 2012||784||14,995||5|
|Des Moines||Honda||Accord||2005 - 2012||798||14,351||5|
|Des Moines||Toyota||Camry||2005 - 2012||800||16991||4|
|Des Moines||Ford||F-Series||2005 - 2012||819||27,491||2|
|Des Moines||Chevrolet||Silverado||2005 - 2012||832||27,999||2|
|Des Moines||Honda||Civic||2005 - 2012||864||17,491||4|
|Des Moines||Nissan||Altima||2005 - 2012||908||16,881||5|
As you can see, the average insurance rates are –by all standards—low in Des Moines. The Honda CR-V, Toyota Corolla and Honda Accord can be insured on an annual basis for merely $729, $784, and $798, respectively. This makes the Honda Accord one of the best deals in the country.
The surprising fact is that though the insurance rates are low, the median prices are not very high. Buyers could also opt to buy the vehicle of their choice from a neighboring state that sells it for less, and have it shipped home. The Chevrolet Silverado, for example, is available in the Chicago for a median price of $18,885. A trip to Chicago could save the buyer thousands of dollars in upfront costs!