American National vs. Iowa Mutual: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for car insurance, American National offers significantly less expensive rates than Iowa Mutual
• American National offers more affordable average prices for policyholders who live in the suburbs
• American National tends to be a much cheaper option for policyholders who live in urban areas

American National or Iowa Mutual: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering large savings. But exactly how much can you save by switching?

You've maybe even narrowed it down to American National or Iowa Mutual as potential options, but between the two, which one will save you the most?

Looking at the national average rates for both carriers, American National is quite a bit cheaper than Iowa Mutual, with rates averaging $87 a month compared to $211 with Iowa Mutual.

But that doesn't necessarily mean American National will be the less expensive option for every single driver. After all, auto insurance companies can offer drastically different rates to every driver depending on rating factors like your credit score, where you call home, your driving record, or even your age (among other things), so prices could differ drastically from person to person.

So, if you want to find out which of American National or Iowa Mutual is really the best for you, keep reading to see average premiums for each carrier broken down by many different rate factors.

American National vs. Iowa Mutual: Average Car Insurance Rates by State

American National and Iowa Mutual only compete against each other in Nebraska, where American National offers the cheaper average prices. American National drivers tend to pay about $144 per month less on average compared to drivers who use Iowa Mutual for their insurance.

That being said, there are plenty of other factors that go into your car insurance cost than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for auto insurance than any group on the road. That's because teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. As you can see above, teens who use American National save over 60% a month compared to those who use Iowa Mutual.

However, with both carriers, you'll see your premiums lower significantly by the time drivers turn 25. Iowa Mutual offers the steepest decrease, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, American National still has the most affordable prices at $74 monthly.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the lowest car insurance rates you'll ever find. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for insurance.

But who has the best prices for retired drivers between American National and Iowa Mutual? American National gets the edge, with premiums for drivers 65 and older $80 more affordable than the national average for Iowa Mutual.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly cheaper car insurance rates than single policyholders. That's because policies for married policyholders generally cover more than one vehicle, which many companies will give you a discount for.

For those who are single, the difference in average premiums between these two carriers is significant, with American National prices coming in at around half of Iowa Mutual's. The advantage for married drivers with American National is also obvious, where drivers save about 60% per month.

American National or Iowa Mutual: Average Rates by Gender

Women tend to pay less for insurance than men. That's because women are less likely to get into accidents and get speeding tickets, which lowers the chances of filing a claim with insurance.

On average, women see rates around 1% a month less with American National, but with Iowa Mutual, the difference is closer to 14% per month.

Looking at overall affordability, American National offers the most affordable average premiums for both men and women. On average, male drivers save about $140 a month and women save about $108 with American National compared to the average Iowa Mutual policyholder.

American National vs. Iowa Mutual: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

Auto insurance can be a complicated subject for most people. There are so many different terms and coverages that it can make it pretty confusing to find the right policy for you.

Even so, most policies that drivers look at fall into two categories -- liability coverage (which provides bodily injury and property damage coverage for other drivers and passengers if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- in addition to liability).

Looking specifically at state minimum liability insurance, American National has the significant edge, with average monthly rates coming in at $52. If you want a full coverage policy with the same state minimum limits, American National again has the edge, with policies averaging around $123 per month to Iowa Mutual's $328.

Is American National or Iowa Mutual Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their insurance. But that's not to say you can't save money if you don't have the best driving record, either.

It's no secret secret that speeding tickets and at-fault collisions lead to higher prices, but which company -- American National or Iowa Mutual -- has the lowest rates for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use American National for their auto insurance can typically expect their monthly bill to go up about 20% after getting a speeding ticket. Iowa Mutual policyholders can expect a less drastic increase of around 6%.

That being said, American National is usually the more affordable option for both drivers who have a recent ticket and those with clean records. With American National Insurance Company, drivers with a clean record can save about $97 a month and drivers with a speeding ticket can save around $91 per month.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through American National can expect to see about an $28 -- or around 29% -- rise in their insurance prices. Drivers who use Iowa Mutual for their auto insurance will see a monthly bill about $27 (or 14%) more expensive after reporting an accident to their car insurance carrier.

At the end of the day, drivers who use American National end up with the cheaper prices after an accident, with average premiums coming in at $95 compared to Iowa Mutual's $191.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple ticket or even a collision. Iowa Mutual drivers usually see a 48% climb in their insurance prices after a DUI charge, while American National will normally raise premiums by around 36%.

But if you end up with a DUI charge and are looking for more affordable rates, American National tends to be cheaper for the average driver, with monthly premiums coming in at about $104 to Iowa Mutual's $315.

How does Credit Score Impact American National and Iowa Mutual Rates?

Did you know many auto insurance companies take your credit score into account when determining prices? Certain states and carriers do not allow for credit score to be used as an auto insurance factor, but it might come into play for lots of drivers.

The reasoning car insurance companies use is that policyholders with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper premiums, while those with poor credit will typically be forced to pay more.

So, which company offers the best rates for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, American National will generally reward you the most. For policyholders with "excellent" credit scores, American National comes in nearly 68.71 less expensive. Drivers with "good" credit scores normally save around 62% with American National compared to average prices from Iowa Mutual.

Which Company is Best for Drivers with Bad Credit?

American National typically offers lower premiums than Iowa Mutual when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about 60% a month less with American National compared to Iowa Mutual, and those with "poor" scores generally save an average of around 49% a month.

Is American National or Iowa Mutual Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in how much insurance carriers will charge for coverage. Usually, those who drive fewer miles will end up with cheaper rates since there's less of a chance of causing an accident and filing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Iowa Mutual charges. However, there's a small difference in monthly prices for American National, with policyholders who drive 6,000 miles each year paying about $9 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, American National is the less expensive carrier.

American National or Iowa Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a pretty big role in how much you pay for auto insurance. Typically, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders since there are a lot more cars on the road where they live, which increases the chances of an accident.

When comparing these two companies side-by-side, American National normally comes out as the most affordable option for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save around 61% with American National compared to Iowa Mutual. People who live in suburban areas pay about 57% less with American National compared to Iowa Mutual. For drivers in urban ZIP codes, American National Insurance Company's average premiums are around 58% less than Iowa Mutual.

American National vs. Iowa Mutual Discounts

No matter why you might be in the market for a new car insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by taking advantage of as many auto insurance discounts as possible.

But where do you even start? With what seems like a million different discounts out there, it may be challenging to find all the ones you qualify for.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both American National and Iowa Mutual so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Looking at the total number of discounts, American National has a slight advantage when it comes to total number of discounts. Iowa Mutual offers a grand total of 12 discounts, while American National has 14.

Both carriers offer many of the same discounts -- like anti-theft discounts, discounts for being a defensive driver, discounts for being a good student, and multi-policy discounts -- but American National also offers discounts for COVID-19 relief, distant student, excess vehicle, and more.

On the other hand, Iowa Mutual has a few proprietary discounts of their own for things like ABS discounts, hybrid vehicle discounts, and renewal discounts.

Final Thoughts: Is American National or Iowa Mutual Best for You?

You've seen the effect certain variables have on your car insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, is American National or Iowa Mutual the best fit for you?

American National might be best for you if....

• Your driving record includes a DUI charge.
• You're looking for the best rates on liability only coverage.
• You want to save money while purchasing insurance for a teenager.

Iowa Mutual might be best for you if...

• You have a more unique driver profile than those we mentioned above.

Hopefully, this guide has ben a valuable resource as you compare American National and Iowa Mutual. We also hope we've given you the information you need to make the best decision about your car insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on insurance -- comparing quotes from a handful of carriers, not just American National and Iowa Mutual. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best auto insurance companies in your area, all in just a few minutes.

American National vs. Iowa Mutual FAQs

Is American National or Iowa Mutual cheaper?

American National is the more affordable of the two carriers when looking at national average prices, with policies averaging $87 per month with American National and $211 for Iowa Mutual. But that doesn't mean American National will be the lowest carrier for each driver, since there are a range of different factors that come into play when it comes to your insurance bill.

Who is better, American National or Iowa Mutual?

Unfortunately, the real answer is "it depends.". One company is not "better" for everyone -- it all depends on what your unique car insurance profile looks like.

Why do American National and Iowa Mutual offer me different rates?

Auto insurance companies use a lot of different variables when calculating the rates they charge. Factors like your driving record, age, where you call home, gender, and sometimes even things like your credit score can all come into play. Both American National and Iowa Mutual calculate prices using different variables, so it's likely they'll offer different premiums. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from a variety of different carriers.

How do I know if American National or Iowa Mutual is right for me?

The only way to find the insurance company that's right for you is by getting quotes from several companies and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance carriers for free. That way, you can guarantee you're getting the most affordable price. And maybe you'll find that the best carrier for you isn't American National or Iowa Mutual at all, but another you hadn't even thought of!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.