Auto-owners vs. Iowa Mutual: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, Auto-owners offers more affordable rates than Iowa Mutual
• Auto-owners offers cheaper average premiums for policyholders who live in suburban areas
• Iowa Mutual offers more affordable rates for residents in Nebraska

Auto-owners vs. Iowa Mutual: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. You've probably seen commercials and billboards from companies offering big discounts, but exactly how much money can you save by switching?

You might have narrowed your search down to Auto-owners or Iowa Mutual as potential options, but which carrier has less expensive prices for auto insurance?

As you can see, Iowa Mutual has average rates that are about 15% per month more expensive than those from Auto-owners when looking at the national average rates for car insurance.

That being said, that doesn't mean Auto-owners will necessarily be cheaper than Iowa Mutual for each driver. Insurance companies vary their premiums depending on things like how clean your driving record is, how good your credit score is, how old you are, where you live, and a variety of other factors, so prices will vary quite a bit from person to person.

So, if you want to find out which of Auto-owners or Iowa Mutual is really the best for you, keep reading to see average rates for each carrier broken down by a variety of different rate factors.

Auto-owners or Iowa Mutual: Average Car Insurance Rates by State

Auto-owners and Iowa Mutual only compete against each other in Nebraska, where Auto-owners offers the cheaper average prices. For Nebraska residents, Auto-owners offers auto insurance for $134 per month on average. Iowa Mutual's average premiums come out to be over 50% more expensive, at $211 a month.

But there's more to calculating insurance rates than just where you live. Continue reading to see how other factors will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for car insurance than any group out there on the road. It's generally because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

Even so, that doesn't mean teen drivers can't still save money on their insurance. For example, 18-year-old drivers pay an average of more than $100 less a month by choosing Auto-owners over Iowa Mutual. It's worth noting that Auto-owners offers auto insurance in 23 different states compared to Iowa Mutual's one, which can skew the average premiums a bit, but the difference here is still considerable.

However, both carriers will offer you dramatically lower prices once you turn 25. For example, average rates for Auto-owners policyholders decrease nearly $250 and Iowa Mutual's premiums drop over $300 over that time.

Which is the Best Company for Retired Drivers?

When it comes to car insurance, patience and experience pay off, with drivers around retirement age paying some of the cheapest rates you can find.

When looking at Auto-owners and Iowa Mutual specifically, which company is best for retired drivers? Auto-owners gets the slight edge, with prices for drivers 65 and older $13 more affordable than the national average for Iowa Mutual.

Which is the Best Company for Married Drivers?

Those who are single tend to get offered slightly more expensive auto insurance rates than married couples. That's typically because married policyholders tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Auto-owners is the clear winner for single drivers, with premiums around $39 per month less expensive than Iowa Mutual, on average. The advantage for married drivers with Auto-owners is also obvious, where drivers save about $25 a month.

Auto-owners vs. Iowa Mutual: Average Rates by Gender

Did you know men normally pay more for insurance than women? This is because men are statistically more likely than women to get into an accident or get pulled over for speeding, which leads to increased risk for insurers and, therefore, higher prices.

Normally, women see rates around 6% per month less with Auto-owners, while with Iowa Mutual, the difference is closer to 14% a month.

Looking at the data for each carrier specifically, Auto-owners offers the lowest average premiums for both men and women, with average prices 19% less for men and 11% cheaper for women.

Auto-owners or 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.

It's no secret that car insurance can be pretty complicated. There are multiple different coverages that account for many different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause a collision.

But most policies end up falling into two different types of coverage -- liability only (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which typically refers to having comprehensive and collision coverages in addition to what you get with a liability policy).

In this case, Iowa Mutual offers the most affordable average rates for state minimum limits for liability insurance, while Auto-owners has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $5 with Iowa Mutual, while full coverage comes out to be about $70 cheaper with Auto-Owners Insurance.

Is Auto-owners or Iowa Mutual Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance companies offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

It's no secret secret that accidents and tickets lead to higher prices, but which company -- Auto-owners or Iowa Mutual -- has the cheapest rates for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Auto-owners policyholders can expect their premiums to go up an average of $44 per month if they get a ticket, while Iowa Mutual usually raises prices around $11 a month, on average.

That being said, Auto-owners is normally the more affordable option for both drivers who have clean records and those with a recent speeding ticket -- their rates are around 26% less expensive for drivers with clean records and 6% cheaper for those with a ticket.

Which Company is Best for Drivers After an Accident?

Auto-owners policyholders who get in a collision can expect to see their premiums climb by over $45, while those who have insurance through Iowa Mutual will see about a $25 increase.

Overall, drivers who use Auto-owners end up with the cheaper prices after an accident, with monthly prices averaging $168 compared to Iowa Mutual's $191.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or ticket when it comes to your car insurance bill. On average, Iowa Mutual will increase your rates around 48% after a DUI, while Auto-owners's average premiums rise by just under 55%.

Auto-owners has the overall lowest rates for drivers with a DUI on their records at $264 monthly, but it's worth noting that Auto-owners's average rates come from 23 states compared to just one for Iowa Mutual, so the data may be skewed slightly.

How does Credit Score Impact Auto-owners and Iowa Mutual Rates?

Did you know that many insurance carriers take your credit score into account when calculating prices? This isn't always the case (for example, are two states that ban the practice entirely), but it might come into play for a lot of drivers.

The reasoning car insurance companies use is that policyholders with bad credit will be less likely to pay their bills on time; so generally, they'll be asked to pay more, while those with good credit will be rewarded with more affordable premiums.

So, which carrier offers the most affordable prices for drivers with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with Auto-owners. Policyholders with "excellent" credit can save over 40% compared to Iowa Mutual, and those with "good" scores can also expect to see savings -- about $45 or 26% less expensive each month.

Which Company is Best for Drivers with Bad Credit?

If you have less-than-perfect credit, it can be somewhat of a toss-up as far as which company offers you the best rates. Drivers with "fair" credit pay around $41 less with Auto-owners than Iowa Mutual, but those whose credit is considered "poor" have it flipped -- saving about $26 per month with Iowa Mutual.

Is Auto-owners or Iowa Mutual Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a pretty big impact on how much auto insurance carriers will charge for coverage. Typically, those who drive less will end up with cheaper prices since there's less of a chance of getting into an accident and causing 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 premiums for Auto-owners, with policyholders who drive 6,000 miles every year paying around $1 less each month compared to those who drive 12,000 miles yearly. Still, Auto-owners is the more affordable option for drivers in both categories.

Auto-owners vs. Iowa Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a considerable role in how much you pay for insurance. Generally, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

When comparing these two companies side-by-side, Auto-owners normally comes out as the lowest option for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the most affordable premiums from both carriers, but Auto-owners comes out on top with average prices about $164 per month. Auto-owners also has less expensive average rates for policyholders in urban and suburban ZIP codes -- a $43 and $30 a month respective difference when compared to Iowa Mutual drivers in similar areas.

Auto-owners vs. Iowa Mutual Discounts

You want to save as much money as possible, right? The best way to do that is by taking advantage of as many auto insurance discounts as you can.

But where do you even start? With so many discounts out there, it may seem hard to find all the of the ones you're eligible for.

In the table below, we've broken down all of the different discounts offered by both Auto-owners and Iowa Mutual so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Auto-owners blows Iowa Mutual away when it comes to the sheer amount of discounts available, offering 12 more discounts than Iowa Mutual.

There are a couple discounts both companies offer, but Auto-owners also offers advance quote discounts, company car discounts, COVID-19 relief discount, and more that Iowa Mutual does not.

On the flip side, Iowa Mutual has a couple unique discounts of its own -- claim free discounts, hybrid vehicle discounts, mature driver discounts, and more.

Final Thoughts: Is Auto-owners or Iowa Mutual Best for You?

So, you've seen how different variables can affect your insurance premiums. We've broken down the different discounts each carrier offers, too. That's all well and good, but when it comes down to it, which insurance company is the best one for you and your specific profile and needs?

Auto-owners might be best for you if....

• You have a DUI charge on your record.
• You care about discounts (Auto-owners offers the most).
• You drive often but have a short commute.

Iowa Mutual might be best for you if...

• You live in one of the following states: Nebraska.
• You want basic car insurance coverage at the state minimum limits.

We hope this guide has ben a valuable resource as you compare Auto-owners and Iowa Mutual. We also hope we've given you the information you need to make the best decision about your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your insurance policy is to compare quotes from several carriers, not just Auto-owners 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 car insurance companies in your area, all in just a few minutes.

Auto-owners vs. Iowa Mutual FAQs

Is Auto-owners or Iowa Mutual cheaper?

Looking just at the national average rates, Auto-owners is the more affordable of the two carriers, offering average rates of $179 per month compared to $211 for Iowa Mutual. Even so, Auto-owners won't necessarily be the lowest carrier for every driver, since there are a bunch of different factors that come into play when it comes to your auto insurance payment.

Who is better, Auto-owners or Iowa Mutual?

Sadly, the only answer we can give you is "it depends.". No one company is "better" for everyone -- it all boils down to your unique insurance profile. For example, Auto-owners offers less expensive prices for policyholders with an at-fault collision on their record, while Iowa Mutual is cheaper for drivers who have less-than-stellar credit scores.

Why do Auto-owners and Iowa Mutual offer me different rates?

Auto insurance companies take a look at several different variables when determining the rates they charge drivers. Factors like age, your driving record, where you call home, gender, and sometimes even things like your credit score can all be taken into consideration. Both Auto-owners and Iowa Mutual calculate premiums differently, so each one will most likely offer different prices. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from lots of different carriers.

How do I know if Auto-owners 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 multiple companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best car insurance carriers in your area. That way, you can guarantee you're getting the cheapest premium. And who knows, the best carrier for you might not be Auto-owners or Iowa Mutual at all!

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.