FAQ

How can I save money on my auto insurance? 
Raising your Comprehensive and Collision deductibles can reduce your premium. A slight increase in your deductible can result in significant savings. Also, as your auto depreciates in value, you may find certain coverages are no longer necessary.  Ask your independent Iowa Mutual agent for further explanation on how to save money on your auto insurance.

If I am in an accident, what coverage will pay for the damage to my vehicle? 
Physical damage to a vehicle is covered under Collision Damage. Your independent Iowa Mutual will assist you in selecting a deductible to best fit your situation.

If I hit a deer, would the damage to my vehicle be covered? 
Damage to a vehicle caused by an animal (e.g. deer or turkey) is covered under Other than Collision coverage. Other than Collision coverage is often referred to as Comprehensive Damage coverage. Iowa Mutual offers several deductible options. During your annual insurance review, your independent Iowa Mutual agent can assist you in selecting a deductible.

What is a Deductible?
Deductibles require you to share covered losses with the insurance company. Deductibles are used to hold down the cost of premiums, and encourage the insured to be careful in protecting against loss.

Do I need Loan/Lease Gap coverage? 
As the cost of most new vehicles continues to rise, the length of a typical loan/lease agreement have been extended in order to make monthly loan payments affordable. Unfortunately, at the time of loss, this can result in a gap between the "actual cash value" of your vehicle and the amount you owe on your loan/lease.

Loan/lease Gap coverage will cover the amount of the gap between the “actual cash value” of your vehicle and the amount you owe on your loan/lease.   

What is the definition of "actual cash value"?

Typically, vehicles depreciate in value over time. Simply put, older vehicles are not worth as much as new vehicles.  The term "actual cash value" represents the replacement cost of your vehicle (new) minus an allowance for depreciation and obsolescence.

What if my windshield gets a stone chip? Will I have to pay a deductible when it’s repaired?
If a windshield can be repaired, Iowa Mutual will repair your windshield at no cost to you, regardless of your deductible. 

If the damaged area is too severe, the windshield may have to be replaced. A deductible will be applied for all replacement windows.