Waterloo, IA Car Insurance

Drivers in Waterloo pay, on average, $53 a month for their car insurance. To learn more about policy rates and coverage in the Waterloo area, continue reading our guide below.
How much can residents of Waterloo expect to pay for their car insurance? Compared to their surrounding area, how do rates in Waterloo stack up? What about against the rest of Iowa? Find the average cost breakdowns and determining factors in the charts and writeups below:  

How much is car insurance in Waterloo?

Area Average Monthly Car Insurance Premium
Waterloo$53
IA$56
United States$81

As you can tell by looking at the chart above, auto insurance rates in Waterloo are about the same as the rest of Iowa.

If you're thinking of moving to Waterloo from out of state, you may still be in luck. Car insurance rates for the U.S. as a whole are, on average, $28 more expensive than the rates you'd pay in Waterloo.

These may be the average auto insurance rates for Waterloo, but that doesn't mean it's exactly what you'll pay. The amount that insurance companies end up charging you is determined by a number of factors. Your bill each month is calculated off of your age, gender, vehicle make and model, driving record, and in some cases, your credit score.

Don't sweat it however, we've broken down average rates for Waterloo residents so that you can get a more accurate idea of what you might pay. If you're not certain that you're getting the cheapest rate for your area, just enter your ZIP below to find out!

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Average Car Insurance Rates by Age

Age Range Average Premium
Under 18Not Enough Data
18-24$85
25-34$52
35-44$59
45-54$44
55-64$43
65+$47

Generally, the older you are, the more experienced you are on the roads. That experience can really work in your favor when it comes to auto insurance. According to the table above, you can see that 18-24-year-olds pay a lot more than someone who is at retirement age.

Every ten years or so you can expect to see a decline in your monthly premium. Having said that, once you approach retirement your rates may begin to go back up in Waterloo.

Average Car Insurance Rates by Gender

Gender Average
Male$54
Female$53

Car insurance rates for men are usually slightly more expensive than they are for women. In Waterloo, however, the difference in monthly rates for auto insurance is minimal.

Average Auto Insurance Rates by Driving Record

Infractions Average Monthly Premium
1 Accident$70
Multiple Accidents$83
1 Ticket$54
Multiple Tickets$79

Your rates can change quite drastically depending on your driving record. 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 $70 a month. Likewise, drivers with one ticket will be looking at a rate of around $54 a month on average.

When it comes to your monthly bill, accidents, tickets, and other driving infractions can really take a toll. Remember, cheap car insurance rates are dependent on driving safely and keeping your record clean.

Average Insurance Rates by Vehicle

Vehicle Age Average Monthly Premium
Less Than 1 YearNot Enough Data
2-3 Years$37
4-5 Years$52
6-7 Years$45
8-10 Years$44
11-14 Years$52
15 Years or Older$58

If you look at the first table above, the cheapest vehicles to insure in Waterloo are typically cars, at $51 per month.

SUV owners, on the other hand, by and large pay around $56 a month, while truck and van drivers can expect to pay about $55 per month for car insurance.

In addition to vehicle type, you can also expect to see slightly different rates based on how old your vehicle is. Generally, newer vehicles are going to be the most expensive to insure. Once your car is close to 5 years old, however, you may see your bill start to shrink a bit. In Waterloo, vehicles fifteen years and older and four-to-five years old are the most expensive to insure.

Average Car Insurance Rates by Relationship Status

Relationship Average Monthly Premium
Single (never married)$55
Married$40
Divorced$48
Widowed$65

Generally speaking, those who are currently married will pay slightly less for car insurance coverage. This oftentimes is a result of owning multiple vehicles that are on the same policy, something some companies will reward with discounts.

Married couples, on average, pay less than single drivers do to insure their vehicles. This holds true in Waterloo, with married couples paying about $15 less per month.

Average Car Insurance Rates by Housing Situation

Housing Status Average Monthly Premium
Own$47
Rent$57
Live with parents$44

One other element taken into consideration is your housing situation. If you rent your home or apartment, expect to pay around $10 a month more than drivers who own property in Waterloo. But if you live with your parents, your rates will be significantly higher.

Many companies, however, will offer you a discount to bundle your home or rental insurance with your auto insurance policy, which can help reduce your average premiums.

Car Insurance Companies in Waterloo, IA

Recent trends in car insurance for Waterloo drivers

Since car insurance rates are constantly changing, it's a good idea to know the local trends in your area before deciding on where to shop.

In Waterloo, the rates for auto insurance dropped from 2017-2018, but leveled out in 2020. Rates have been increasing since then, and recently reached a high of $64 a month in 2022.

How does Waterloo compare to neighboring areas?

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

There are a number of factors car insurance companies will consider when figuring out how much to charge for a monthly rate. A few of these factors affecting your personal policy have already been mentioned, but others are based around where you park your car. These include things like:

  • Prevalence of crime
  • Number of car accidents
  • Laws
  • Access to off-street parking
  • Total number of drivers in the community

Having an awareness of these factors is critical when thinking about buying a new policy or potentially moving to a new home. Knowing that different towns and cities will all have different rates, guides like these can be a good way to get a lay of the land of your particular neighborhood.

How can I find the cheapest car insurance in Waterloo?

While understanding what the average costs are for drivers like you can be helpful as you get an idea of what you might end up paying, 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. Enter your ZIP Code below, answer a few questions on you and your vehicle, and you'll be quickly comparing the cheapest quotes from a bulk of the car insurance companies offering auto coverage in Waterloo.

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Waterloo Insurance FAQs

What factors affect car insurance quotes in Waterloo?

Quotes are calculated by car insurance companies who take multiple factors into consideration, including things you can't control like your age and gender, but also factors like your marital status, credit score, address, and driving record.

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

Auto insurance companies consider regional factors, such as local laws, crime rates, and parking situations into account when calculating the monthly rate for coverage. Since these can all vary from city to city the rates you may see can differ from neighboring areas.

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

No one insurance company is guaranteed to offer the cheapest rate across the board. Since companies base their rates on factors that differ from person to person, such as driving record, number of drivers on the policy, vehicle make and model, and many more, it's a good idea to use sites like Compare.com to compare multiple quotes at once.

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

Whenever you relocate or experience another major life event, such as finding a new job or getting married, you should consider revisiting your current insurance policy. Using services like Compare.com to compare quotes from multiple companies at once is a great way to make sure you're getting the cheapest rate for your new location.

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