Vehicle owners in Iowa have different requirements than many other motorists across the nation. Drivers in the Hawkeye State are not strictly required to purchase auto insurance, but according to the Financial and Safety Responsibility Act, individuals must be able to prove that they can adequately pay for damages or injuries which they may be responsible for after an accident. There are typically several ways of demonstrating that these potential expenses can be met, such as filing a surety bond, cash or securities equal to $55,000 or obtaining a certificate of self-insurance from the Office of Driver Services. The majority of residents, however, often choose to purchase vehicle coverage.

If a resident chooses to buy Iowa car insurance there are specific minimum requirements that must be met for a driver to be considered financially responsible. Policyholders must carry bodily injury liability with minimum limits of $20,000 for a single person and $40,000 for two people or more in a single accident, as well as property damage liability with a minimum limit of $15,000. Insurers are required to offer residents uninsured and underinsured motorist protection, but this addition can be formally rejected by the vehicle owner as a way to potentially lower coverage costs. After a plan is purchased, a motorist is likely to receive a document verifying many of the details in the policy, which drivers are encouraged to keep in a safe and easily accessible place within the insured vehicle.

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