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Iowa Mutual Auto Insurance Discounts


Iowa Mutual Auto Insurance Company categorizes coverage into three tiers. Customers may qualify for Advantage, Standard, Premier, or Ultimate coverage depending on their driving records and other factors. Each tier offers a different level of savings, with the Ultimate tier providing maximum benefit for qualified drivers. Iowa Mutual works with customers to create customized policies. This ensures that customers pay for only the coverage they need or desire.

Savings such as the multiple policy discount, new business discount, and renewal discounts are offered across all tiers. However, the Ultimate tier offers extra savings to the best drivers through competitive pricing. The personal auto policy at Iowa Mutual includes coverage for auto liability, medical payments, physical damage, and uninsured motorists. Other options coverage is available as well.

The Advantage Auto Tier

If your driving record shows some violations or accidents, you will need to start at this tier. You may have the opportunity to advance to the Standard and other higher tiers if you keep your driving record untarnished. You can also expect to earn additions savings every year you maintain a perfect driving record.

Drivers over the age of 20 can qualify for the Advantage tier without any supporting coverage. If you remain claim free for three consecutive years, you will receive a special discount at renewal. Advantage tier members also qualify for multi-policy and multi-vehicle discounts that can be up to 15% off in some states.

The Standard Tier

This level works for most drivers who have minor problems on their driving records. Ideally, drivers will go on to the Premier Tier, where rates are even lower. If their records continue to improve, they will eventually reaching the Ultimate Tier.

The Ultimate Auto Tier

The Ultimate tier provides the best price on auto insurance, but has a complicated structure. Customers with more experience and excellent driving records are best suited to this tier. To qualify for this tier, you must be between the ages of 30 and 69. You also need at least five years without any at-fault accidents or traffic violations. You are allowed one not-at-fault accident or non-collision claim within three years. Other restrictions may apply as well.

New Business Discount

If you have not had a claim for three years, Iowa Mutual offers a 5% New Business Discount. Claims for accidents involving uninsured or underinsured motorists do not count against you for this discount. Physical damage claims that were not caused by a collision are also exempt. However, any other type of claim would disqualify you from the discount. Obviously, you must be a new Iowa Mutual Customer to qualify as well.

Multiple-Policy Discount

Anyone with a new policy or renewal can qualify for the multiple-policy discount. To qualify, you must own two types of insurance policies, such as a homeowner's insurance policy and a personal auto policy through Iowa Mutual. If you have both types of policies, you could be eligible for a discount of up to 15% on your auto insurance policy. Customers in Illinois will receive a 10% discount for carrying multiple policies with Iowa Mutual. You will continue to receive this discount each year you renew your policies. The multiple-policy discount also applies for coverage on motorcycle, all-terrain vehicle, personal liability, dwelling, and personal inland marine policies.

Renewal Discounts

Anyone who chooses to renew his or her Iowa Mutual auto insurance policy after the first 12 months will receive a 5% discount, no matter which type of policy. An additional 5% discount will be given to drivers who renew their policies after 12 months and have not filed any claims during the last three years. As with the new business discount, the renewal discount for claims-free individuals does not include physical damage claims that were not caused by a collision or claims that involve uninsured or underinsured motorists.

Optional Coverage

For an additional fee, you can purchase optional coverage. You may add towing and labor coverage, reimbursement coverage for rentals, coverage for a lease or a loan vehicle, coverage for your audio equipment and media (cassette tapes, CD's, etc.), and coverage for your personal electronics (cell phones, mp3 players, etc.). Each of these optional coverage plans are supplemental insurance packages for specific claim types. Your Iowa Mutual agent can give you more details about the costs of these optional plans and help you choose the coverage that is right for you.