A claim came into my office today for a stolen car. I think this is only the second claim I’ve seen for auto theft in nearly five years. I wondered how common it is to get your car stolen in Iowa and this is what I found:
- About 750,000 vehicles are stolen in the U.S. each year
- California has the most vehicle thefts and Vermont has the least
- Iowa car thefts rank #37 of 51 states and the District of Columbia
- Davenport metro has the most thefts in Iowa
- The car most stolen in the U.S. is the Honda Accord
Although there are only 13 states with lower car theft rates than Iowa, it was surprising to me that both New York and New Jersey were among them. New York ranked as the fourth least state for stolen vehicles. Statistically, you are more than twice as likely to have you vehicle stolen in Iowa than New York. One might hypothesize that larger numbers of unlocked (with and without keys left inside) might have an measurable impact on Iowa’s theft rate.
What do you think? Leave a comment below to offer your reason why New York has a lower car theft rate than Iowa!
States with the Lowest Auto Insurance premiums
Do you feel like your auto insurance rates have gotten out of hand? Be thankful if you don’t live in Michigan, Oklahoma or Louisiana. Residents there pay more than $2,000/per year on average to insure each vehicle. Iowans may also complain about raising rates, but should take some comfort in knowing they pay the lowest auto insurance rates in the nation! According to the November 2017 newsletter for Independent Insurance agents of Iowa, Iowans pay on average $1,125/year for auto insurance. Premiums vary by zip code and are based on the loss (claims) experience of insurance companies in each zip code. Therefore rates can vary widely even within a state. For example people in Detroit zip codes will pay a lot more than those in Marquette, MI.
Iowa’s lack of large urban areas helps reduce traffic congestion and accidents. However lower crime rates (theft and vandalism) as well as relatively fewer weather-related losses also work in the state’s favor. On the other hand, Iowa was the fourth highest state for deer-vehicle collisions last year according to State Farm. Of course the car you drive, driving records, credit history and age and experience of the driver(s) are important insurance rating factors too.
Iowa also is the 12th best state for the lowest percentage of uninsured drivers at just 8.7%*. This is despite the fact that Iowa doesn’t have a compulsory insurance law. Iowa’s Financial and Safety Responsibility act requires that drivers have the financial means to cover injury or property damage to others. Financial responsibility can be satisfied either from one’s personal wealth or with auto liability insurance.
The top 10 states with the lowest average auto insurance premiums are ranked below, with Iowa being the lowest:
- North Carolina
- New Hampshire
- North Dakota
* Percentage of uninsured drivers, as measured by the ratio of uninsured motorists claims to bodily injury claim frequencies. Source: Insurance Research Council, 2015.
Get a quote from a Cedar Rapids auto insurance agency.
Which insurance companies have the largest share of the property & casualty insurance market in Iowa? The following is based 2014 data, published in a recent issue of Viewpoint Magazine.
Top 10 largest insurance companies in Iowa based on overall share of property & casualty market in 2014
- State Farm Group, 9.5%
- Allied Group – A Nationwide Company, 8%
- Farm Bureau P&C Group, 6%
- ACE INA Group, 4.4%
- Progressive Group, 4.1%
- EMC Ins Cos., 3.3%
- Travelers Group, 3.0%
- Farmers Mutual Hail Ins Group, 2.8%
- American Family Insurance Group, 2.9%
- QBE Americas Group, 2.9%
Source: Viewpoint Magazine, Summer 2015
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