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

Quick Facts

• In general, State Farm offers significantly less expensive rates than Iowa Mutual
• State Farm offers more affordable premiums for people who are single and purchasing car insurance by yourself
• State Farm has cheaper prices for policyholders who may not have much of a commute

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

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering hefty discounts, you're probably wondering exactly how much you might be able to save.

You might have narrowed it down to Iowa Mutual or State Farm for your next policy, but which carrier has more affordable premiums for insurance?

Looking at nationwide averages, Iowa Mutual is quite a bit more expensive than State Farm, with rates averaging $211 per month compared to just $158 with State Farm.

However, that doesn't necessarily mean State Farm will be the cheaper option for every single driver. Auto insurance companies use all sorts of complex algorithms to calculate prices, so depending on how good your credit score is or how clean your driving record is (among multiple other factors), you could see wildly different rates from the ones above.

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

Iowa Mutual or State Farm: Average Car Insurance Rates by State

Iowa Mutual and State Farm only compete against each other in Nebraska, where State Farm offers the cheaper average rates. For Nebraska residents, State Farm offers car insurance for $200 monthly on average. Iowa Mutual's average prices come out to be more expensive, at $211 a month.

That being said, there are plenty of other factors that go into your auto insurance cost than just your home state. Continue reading to see how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- usually pay a lot for car insurance compared to older drivers. That's because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

That being said, that doesn't mean that teen drivers have to just accept sky-high insurance premiums. As you can see above, teens who use State Farm save nearly $150 a month compared to those who use Iowa Mutual.

But both carriers will drop prices by the time drivers turn 25. State Farm offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Iowa Mutual's average premiums reduce almost 65% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age generally enjoy some of the cheapest car insurance rates you can find. After all, they've likely been driving for quite some time, which typically lowers their chances of accidents and other infractions that can increase prices.

But who has the best premiums for retired drivers between Iowa Mutual and State Farm? State Farm gets the edge, with rates for drivers 65 and older $35 less expensive than the national average for Iowa Mutual.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are normally more affordable for married couples than they are for those who are single? That's because policies for married policyholders typically cover several cars, which many companies will offer you a discount for.

When it comes to relationship status, State Farm is the clear winner for single policyholders, with rates about $67 per month less expensive than Iowa Mutual, on average. The advantage for married drivers with State Farm is also obvious, where drivers save more than $35 a month.

Iowa Mutual vs. State Farm: Average Rates by Gender

Men normally pay more for insurance than women. This is because men are statistically more likely than women to get speeding tickets and get into accidents, which leads to increased risk for insurers and, therefore, higher prices.

With Iowa Mutual, women usually pay nearly $35 per month less than men, and around $10 with State Farm.

When it comes to the lowest rates for each gender, State Farm comes out as the most affordable option for both genders, with average premiums $64 less for men and $43 cheaper for women.

Iowa Mutual or State Farm: 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. Everyone needs auto insurance, but there are so many different limits and coverages that it can be hard to find the right policy.

Even so, 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 generally refers to having comprehensive and collision coverages in addition to what you get with liability coverage).

In this case, Iowa Mutual offers the cheapest average prices for state minimum liability insurance, while State Farm 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 $100 more affordable with State Farm.

Is Iowa Mutual or State Farm Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from 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.

Tickets and at-fault collisions will most likely raise your premiums, but is Iowa Mutual or State Farm cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Iowa Mutual policyholders can expect their prices to go up an average of $11 a month if they get a ticket, while State Farm typically raises premiums around $21 per month, on average.

But State Farm tends to offer the best prices for drivers both with clean records and with a speeding ticket, offering prices that are $30 and $20 less expensive, respectively, compared to Iowa Mutual.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their auto insurance through Iowa Mutual can expect to see about an $27 -- or around 14% -- increase in their insurance rates. Drivers who use State Farm for their car insurance will see a monthly bill about $29 (or 18%) more expensive after reporting a collision to their insurance company.

Overall, State Farm offers the lowest prices for drivers with an at-fault accident on their records, with monthly rates averaging $163 compared to Iowa Mutual's $191.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly car insurance bill -- normally a lot more than an accident or ticket. For example, Iowa Mutual increases average premiums by over $150 a month -- that's just under a 50% increase.

How does Credit Score Impact Iowa Mutual and State Farm Rates?

Often times, your credit score can be used as one of the variables to determine your monthly auto insurance prices. Certain states and companies do not allow for credit score to be used as a rating factor, but it might come into play for a lot of policyholders.

The reasoning insurance carriers use is that drivers 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 usually be forced to pay more.

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

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Iowa Mutual or State Farm Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a pretty big impact on your monthly auto insurance bill. Generally, the more miles you put on your vehicle each year, the more you can expect to pay for car insurance.

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 State Farm, with policyholders who drive the least paying around $13 less each month compared to those who drive 12,000 miles yearly. Still, State Farm is the more affordable option for drivers in both categories.

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

We've already mentioned how your home state can play a role in how much you pay for insurance, but the type of area you live in can have a sizable impact as well. Normally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders due to the small number of cars that are on the roads in those areas.

State Farm tends to offer the lowest rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

Drivers in rural ZIP codes see the most affordable premiums from both companies, but State Farm comes out on top with average rates about $127 per month. State Farm also has cheaper average prices for policyholders in urban and suburban ZIP codes -- a $63 and $38 per month respective difference when compared to Iowa Mutual drivers in similar areas.

Iowa Mutual vs. State Farm Discounts

Regardless of 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 possible, and 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 what seems like a million different discounts out there, it may be challenging to find all the ones you can take advantage of.

In the table below, we've taken a look at all of the different discounts Iowa Mutual and State Farm offer their customers so that you can see which company can save you the most money each month.

State Farm blows Iowa Mutual away when it comes to the sheer amount of discounts available, offering 23 different discounts to Iowa Mutual's 12.

A couple of those are overlapping for things like anti-theft discounts, discounts for getting driver training, discounts for being a good student, and multi-policy discounts. State Farm also offers annual mileage discounts, distant student discounts, drive safe & save discounts, and more that Iowa Mutual does not.

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

Final Thoughts: Is Iowa Mutual or State Farm Best for You?

So, you've seen how different factors can affect your car insurance premiums. We've broken down the different discounts each company offers, too. But, at the end of the day, which carrier is the right one for you, your vehicle, and your wallet?

State Farm might be best for you if....

• You have a DUI charge on your record.
• You're looking for discounts -- State Farm has the most.
• You live in a rural area.

Iowa Mutual might be best for you if...

• You want basic insurance coverage at the state minimum limits.

We hope this guide has ben a valuable resource as you compare Iowa Mutual and State Farm and that it aids in making a more informed decision about 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 multiple carriers, not just Iowa Mutual and State Farm. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get multiple free quotes from some of the best auto insurance companies in your area, all in just a few minutes.

Iowa Mutual vs. State Farm FAQs

Is Iowa Mutual or State Farm cheaper?

Looking just at the national average prices, State Farm is the more affordable of the two carriers, offering average rates of $158 a month compared to $211 for Iowa Mutual. Even so, State Farm won't necessarily be the cheapest company for every policyholder, since there are a range of different variables that are considered when it comes to your car insurance payment.

Who is better, Iowa Mutual or State Farm?

Unfortunately, the only answer we can give you is "it depends.". One carrier is not necessarily "better" for everyone -- it all boils down to your unique insurance profile. For example, State Farm offers cheaper premiums for policyholders with an at-fault collision on their record, while Iowa Mutual is less expensive for drivers who have less-than-stellar credit scores.

Why do Iowa Mutual and State Farm offer me different rates?

Auto insurance companies take a look at lots of different factors when calculating the rates they charge drivers. Variables like where you live, where your home is, gender, age, and sometimes even things like your credit score can all be used. Both Iowa Mutual and State Farm calculate prices differently, so each one will most likely offer different premiums. The only real way to see which company is the most affordable for you is by comparing personalized quotes from lots of different carriers.

How do I know if Iowa Mutual or State Farm is right for me?

The only way to find the car insurance carrier that's right for you is by getting quotes from several companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best auto insurance carriers in your area. With those, you can guarantee you're getting the best price. And who knows, the best company for you might not be Iowa Mutual or State Farm 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.