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

Quick Facts

• Based on national averages for car insurance, Imt offers significantly more affordable prices than Iowa Mutual
• Imt tends to be a much less expensive option for drivers who have less-than-stellar credit
• Iowa Mutual offers more discounts than IMT Insurance

Imt vs. Iowa Mutual: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? After all, you've seen ads from all sorts of companies offering hefty discounts. But exactly how much can you save by switching?

You might be considering Imt or Iowa Mutual for your next policy, but which carrier will offer you cheaper rates?

As you can see, Imt has average rates that are about 50% per month more affordable than those from Iowa Mutual when looking at the national average rates for auto insurance.

But Imt may not be the cheapest or best option for every driver out there. Car insurance companies vary their premiums depending on things like how good your credit score is, where you live, how clean your driving record is, how old you are, and a ton of other factors, so rates will vary quite a bit from person to person.

Luckily, we've broken down average prices from both Imt and Iowa Mutual by multiple different rate factors, so read on to find out which company is the best for you.

Imt or Iowa Mutual: Average Car Insurance Rates by State

Imt and Iowa Mutual only compete against each other in Nebraska, where Imt offers the cheaper average premiums. For Nebraska residents, Imt offers insurance for $143 a month on average. Iowa Mutual's average rates come out to be over 40% more expensive, at $211 per month.

But there's more to calculating auto insurance prices than just the state you live in. Continue reading to see how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance premiums of any other group of drivers out there on the road. It's because young, inexperienced drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

However, that doesn't mean teen drivers can't still save money on their insurance. For example, 18-year-old drivers pay an average of nearly $300 less a month by choosing Imt over Iowa Mutual.

Even so, with both carriers, you'll see your rates lower significantly once you turn 25. For example, average prices for Imt policyholders decrease more than 45% and Iowa Mutual's premiums drop almost 65% over that time.

Which is the Best Company for Retired Drivers?

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the most affordable rates you'll ever find.

So, which carrier offers the best prices to retired drivers? Imt gets the edge, with rates for drivers 65 and older nearly 45% cheaper than the national average for Iowa Mutual.

Which is the Best Company for Married Drivers?

Did you know that car insurance prices are generally less expensive for married drivers than they are for single drivers? That's because policies for married policyholders normally cover more than one car, which lots of companies will offer you a discount for.

When it comes to relationship status, Imt is the clear winner for single policyholders, with premiums around $126 per month more affordable than Iowa Mutual, on average. The advantage for married couples with Imt is also obvious, where drivers save over $70 a month.

Imt vs. Iowa Mutual: Average Rates by Gender

Men are statistically more likely than women to get into an accident or get pulled over for speeding. That means when it comes to insurance men will typically end up paying a little more.

On average, men see rates about $10 per month higher with Imt, and almost $35 with Iowa Mutual.

When it comes to the lowest prices for each gender, Imt comes out on top for both men and women. On average, women save about $92 a month and men save around $113 with Imt compared to the average Iowa Mutual policyholder.

Imt 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.

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.

That being said, most policies that many drivers look at fall into two categories -- liability only (that covers property damage and bodily injury for other drivers if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside liability coverage).

If you're looking for state minimum liability insurance, Imt usually offers significantly cheaper premiums of $58 compared to Iowa Mutual's $94. When it comes to full coverage policies with similar limits, Imt again has the edge, with policies about $150 per month less expensive than Iowa Mutual, on average.

Is Imt or Iowa Mutual Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great rates 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 at-fault accidents and tickets lead to higher prices, but which company -- Imt or Iowa Mutual -- has the cheapest premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Imt policyholders can expect their prices to go up an average of $13 a month if they get a ticket, while Iowa Mutual normally raises rates around $11 per month, on average.

However, Imt tends to offer the best prices for both drivers who have a recent speeding ticket and those with clean records, offering premiums that are 54% and 49% more affordable, respectively, compared to Iowa Mutual.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through Imt can expect to see about an $58 -- or around 43% -- increase in their car insurance prices. Drivers who use Iowa Mutual for their insurance will see a monthly bill about $27 (or 14%) more expensive after reporting an accident to their auto insurance carrier.

Overall, the cheaper premiums come from Imt, with monthly rates averaging $134 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. For example, Iowa Mutual increases average premiums by over $150 a month -- that's just under a 50% increase.

If you have a DUI on your record and are looking for more affordable prices, Imt tends to be the much less expensive option with average rates of $135 monthly compared to $315 from Iowa Mutual.

How does Credit Score Impact Imt and Iowa Mutual Rates?

In many cases, your credit score can be used as one of the variables to calculate your monthly insurance premiums. This isn't always the case (for example, California and Michigan are two states that ban the practice entirely), but it might come into play for a lot of drivers.

Auto insurance companies argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with more affordable rates.

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

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, you'll usually find a better deal with Imt. Policyholders with "excellent" credit can save over 45% compared to Iowa Mutual, and those with "good" scores can also expect to see savings -- around $72 or 41% cheaper each month.

Which Company is Best for Drivers with Bad Credit?

Imt typically offers lower premiums than Iowa Mutual when it comes to drivers with a below average credit score. Drivers with "fair" credit pay about $109 per month less with Imt compared to Iowa Mutual, and those with "poor" scores generally save an average of around $151 a month.

Is Imt 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 your monthly car insurance bill. Usually, those who drive less will end up with less expensive rates since there's less of a chance of getting into a collision and causing an insurance claim.

In this case, neither Imt or Iowa Mutual report increasing prices for drivers with higher annual mileage figures. Even so, Imt comes out as the most affordable for drivers at both intervals, whether they put 6,000 or 12,000 miles on their car annually, with average premiums of $109 a month for both.

Imt vs. Iowa Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can play a pretty big role in how much you pay for insurance. Typically, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because there are a lot fewer cars on the road in those areas, which lowers the chances of an accident.

Imt boasts the cheapest average prices 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 Imt comes out on top with average rates about $90 per month. Imt also has cheaper average prices for policyholders in urban and suburban ZIP codes -- a 45% and 50% per month respective difference when compared to Iowa Mutual drivers in similar areas.

Imt 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.

The difficult part is finding all of the discounts you qualify for, since it can feel sometimes like every company has different discounts and each one is advertised differently.

Below, we've broken down all of the different discounts offered by both Imt and Iowa Mutual so that you can find the company that has the most discounts and, therefore, the biggest savings.

Overall, Iowa Mutual has advantage when it comes to total number of discounts. Imt offers a grand total of nine discounts, while Iowa Mutual has 12.

There are a couple discounts both companies offer, but Iowa Mutual also offers ABS discounts, anti-theft discounts, claim free discounts, and more that Imt does not.

On the flip side, Imt has a couple unique discounts of its own -- commercial product discounts, distant student discounts, group discounts, and more.

Final Thoughts: Is Imt or Iowa Mutual Best for You?

So, you've seen how different factors can affect your insurance rates. We've shown you all the discounts each carrier offers, too. That's all well and good, but at the end of the day, is Imt or Iowa Mutual the right one for you and your specific profile and needs?

Imt might be best for you if....

• Your driving record contains an at-fault collision.
• You're looking for more protection with "full coverage" car insurance.
• You live in a rural neighborhood.

Iowa Mutual might be best for you if...

• You're looking for the company with the most discounts.

We hope this guide helps you get a good idea of the differences between Imt and Iowa Mutual and that you can now make a more informed decision when it comes to your auto 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 several carriers, not just Imt and Iowa Mutual. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get multiple quotes from some of the best auto insurance companies in your area, all for free.

Imt vs. Iowa Mutual FAQs

Is Imt or Iowa Mutual cheaper?

Looking just at the national average prices, Imt is the less expensive of the two carriers, offering average rates of $109 a month compared to $211 for Iowa Mutual. That being said, Imt won't necessarily be the cheapest carrier for every driver, since there are a bunch of different variables (things like age, driving record, gender, etc.) that play a role in how much you pay.

Who is better, Imt or Iowa Mutual?

Unfortunately, the real answer is "it depends.". No one company is "better" for everyone -- it all depends on what your unique car insurance profile looks like.

Why do Imt and Iowa Mutual offer me different rates?

Auto insurance companies take a look at quite a few different factors when calculating the premiums they charge policyholders. Variables like your driving record, age, gender, where your home is, and sometimes even things like your credit score can all be taken into consideration. Both Imt and Iowa Mutual calculate rates 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 a range of different carriers.

How do I know if Imt 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 a handful of companies and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your information once 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 best premium. And who knows, the best carrier for you might not be Imt 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.