Waterloo, IA Car Insurance

The average monthly cost for car insurance in Waterloo is about $45. To learn more about policy rates and coverage in the Waterloo area, continue reading our guide below.
Are rates in Waterloo higher or lower than those in neighboring areas? How do they compare to the rest of Iowa? What should residents of Waterloo expect to pay for their car insurance? Discover the factors that go into calculating the average cost in our writeups and charts below:  

How much is car insurance in Waterloo?

Area Average Monthly Car Insurance Premium
Waterloo$45
IA$55
United States$80

As you can see in the chart above, it is around $10 a month cheaper to insure your vehicle in Waterloo than it is in the rest of Iowa.

Likewise, car insurance rates in Waterloo are often favorable when viewed against the rest of the country. Auto insurance coverage in Waterloo is about $35 cheaper than it is for the rest of the United States.

These may be the average auto insurance rates for Waterloo, but that doesn't mean it's exactly what you'll pay. Insurance companies take an array of factors into consideration when determining how much to charge you to insure your vehicle. Things like age, gender, vehicle make and model, driving record and, in some areas, credit score can all play a part in the final dollar amount you'll be asked to pay each month.

Don't sweat it however, we've broken down average rates for Waterloo residents based on several different factors so that you can get a more accurate idea of what it might cost to insure your vehicle. And if you're not sure if you're getting the cheapest rate, simply enter your ZIP Code below and find out in just minutes!

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Average Car Insurance Rates by Age

Age Range Average Premium
Under 18Not Enough Data
18-24$79
25-34$42
35-44$41
45-54Not Enough Data
55-64$34
65+$45

The longer you've been behind the wheel, the more experienced of a driver you are. That experience pays off when it comes to auto insurance. According to the table above, you can see that 18-24-year-olds pay significantly more than someone who is at retirement age.

As you get older, you can expect to see a drop in your monthly premium every 10 years. Once you hit retirement age, however, you may see your rates begin to increase again in Waterloo.

Average Car Insurance Rates by Gender

Gender Average
Male$43
Female$47

Although female drivers pay, on average, less than male drivers to insure their car, Waterloo actually bucks this trend. While female drivers pay $47 per month for car insurance coverage, males only pay about $43.

Average Auto Insurance Rates by Driving Record

Infractions Average Monthly Premium
1 Accident$65
Multiple Accidents$97
1 Ticket$55
Multiple TicketsNot Enough Data

Your driving record can have a tremendous impact on your car insurance rates. Drivers with clean records will pay much lower rates than those with accidents or violations. Drivers in Waterloo with a single accident will pay around $65 a month. Similarly, if you have one ticket on your record, you will be looking at an average rate of around $55.

Accidents, tickets, and other driving infractions can really add up when it comes to how much you pay. Remember, the safer you are as a driver, the cheaper your car insurance will be.

Average Insurance Rates by Vehicle

Vehicle Age Average Monthly Premium
Less Than 1 YearNot Enough Data
2-3 Years$37
4-5 Years$47
6-7 Years$43
8-10 Years$42
11-14 Years$45
15 Years or Older$47

The most affordable vehicles to insure in Waterloo are usually cars, which run about $42 per month.

SUV owners, on the other hand, typically pay around $49 a month, while truck and van drivers can expect to pay about $46 per month for insurance coverage.

Depending on the age of your vehicle, you can also expect to see slightly different rates. Generally, the most expensive vehicles to insure are going to be newer ones. However, your rates may start to drop back down once your car is around 5 years old. In Waterloo, the most expensive vehicles to insure are vehicles fifteen years and older and four-to-five years old.

Average Car Insurance Rates by Relationship Status

Relationship Average Monthly Premium
Single (never married)$48
Married$29
Divorced$41

Generally speaking, those who have settled down into marriage will pay slightly less to insure their vehicle. This occurs because insurance companies commonly offer special discounts to policyholders with multiple vehicles that are on the same policy.

At a national level, married drivers usually pay less than single drivers for auto insurance. This holds true for Waterloo as well, where the difference is around $19 a month.

Average Car Insurance Rates by Housing Situation

Housing Status Average Monthly Premium
Own$33
Rent$52
Live with parents$44

Your housing situation is another factor that affects your monthly rate. Renters can expect to pay around $19 a month more than those who own their own home in Waterloo. But if you live with your parents, you can expect to pay a lot more.

Bundling your home or rental insurance with your auto insurance can oftentimes reduce your average premiums, depending on your insurance company.

Car Insurance Companies in Waterloo, IA

Recent trends in car insurance for Waterloo drivers

Since average rates are constantly changing, it's a smart move to research the local trends in your area before choosing when and where to shop.

Auto insurance rates in Waterloo had been increasing from 2016-2017, where they hit a high of $57, before steadying out in 2018. Policy premiums rose once again in 2020, and have continued rising through 2021, where they reached $52 a month.

How does Waterloo compare to neighboring areas?

Why are car insurance rates in Waterloo different from other areas?

Car insurance companies will consider several factors when trying to decide how much to charge for a policy. While we already mentioned the ones that affect your personal policy, others are influenced by where you call home. These include things like:

  • Frequency of car accidents
  • Local regulations
  • Total amount of drivers in the area
  • Local crime rates
  • Off-street parking availability

An awareness of these factors is important when thinking about buying a new policy or potentially moving to a new home. Each area will have different rates. Guides like these are a wonderful place to get started.

How can I find the cheapest car insurance in Waterloo?

While getting familiar with what the average costs are for drivers like you can be helpful as you get an idea of what you might pay, the only way to know exactly what your rate will be is by requesting a quote from car insurance companies.

Don't worry, Compare.com can handle all of this for you. Just put in your ZIP below, answer a few questions about you and your car, and you'll be quickly comparing the cheapest quotes from a number of the car insurance companies offering plans in Waterloo.

Compare the cheapest quotes from dozens of insurance companies

Waterloo Insurance FAQs

What factors affect car insurance quotes in Waterloo?

Car insurance companies calculate quotes based on a wide array of factors. These include things you can't control like your gender and age but also factors like your driving record, address, credit score, marital status, as well as your vehicle's year and make and model.

Why is the cost of car insurance in Waterloo different from other neighboring cities?

Car insurance companies take local factors into consideration when determining how much to charge for coverage. Things like parking situations, crime rates, and local laws -- which can vary from city to city -- can significantly affect your rate.

Which car insurance company will offer me the cheapest rate in Waterloo?

Since the factors that go into calculating your monthly payment vary from person to person, there isn't one company that will always offer the cheapest rate to everybody. You can be confident that you're receiving the best price possible however, by using sites like Compare.com to compare multiple quotes at once.

Do I need to change my insurance if I move to Waterloo?

Whenever you move to a new area, or experience any other major life event such as getting married or finding a new job, it's always a good idea to re-evaluate your current insurance policy. Certain companies may offer larger discounts in certain cities, so it's a smart idea to use services like Compare.com to compare quotes from dozens of companies side-by-side.

Do I need to wait for my policy to expire to switch to a different car insurance company?

No. Regardless of how much time is left on your current policy, you can switch companies at any time. So, whether you're considering moving to Waterloo or just curious if you're getting the best rates, why not take 10 minutes and see if Compare.com can save you some extra cash?

Find your best rate in just a few minutes