What is the Average Cost of Car Insurance in Idaho Falls?

Hugging the Snake River, Idaho Falls is located in the southeast portion of the state of Idaho. It’s the second-largest city in the state, with only the Boise Metropolitan area being larger. Idaho Falls is the county seat of Bonneville County and has a population of nearly 63,000. Out of that population, 62.4% of residents aged 16 years and older work at least part-time. The average commute time to work is 17.8 minutes, far below the national average of 26.6 minutes.

If you live in Idaho Falls and you’re looking for auto insurance, there is good news and bad news. The good news is that thanks to a relatively low vehicle theft and vandalism rate of 1.34 incidences per 1,000 people and, partially due to this, insurance rates are rather low in comparison with other parts of the country. There were 116 vehicles stolen in Idaho Falls last year, which makes it the 336th highest in the nation. The bad news is that your credit can factor into your insurance premiums. But even with a credit check, the average insurance premium for full coverage on a motor vehicle is $1,050.

What is Required for Idaho Falls Drivers?

Drivers in Idaho are required to carry insurance in order to operate a motor vehicle in the state. The state minimum requirements are:

  • Bodily Injury: $25,000 per person $50,000 per accident
  • Property Damage: $15,000 per accident
  • Uninsured motorist coverage: $25,000 per person; $50,000 per accident
  • Underinsured Motorist Coverage: $25,000 per person; $50,000 per accident

Drivers can waive the uninsured and underinsured coverage if they choose to do so.

With the minimum coverage, drivers meet the minimum requirements to drive in the state of Idaho. However, this coverage is for others involved in an accident in which the covered motorist is at fault. It does not offer any coverage for the at-fault driver’s vehicle or personal items.

For this reason and others, carrying only the minimum is not recommended as the coverage could be inadequate to cover all costs, putting the driver’s personal finances at risk for any expenses not covered by the policy.

Most Expensive and Least Expensive Insurance Rates by Zip Code

Cheap Car Insurance in Idaho Falls by Insurer

Auto insurance is relatively cheap in Idaho in comparison to other parts of the country. The least expensive policies are offered by GEICO, with a minimum requirement policy starting at $235, and full coverage starting at $713. Progressive isn’t too far behind with a minimum requirement policy starting at $241, while Farmers offers the next least expensive full coverage policy for $800. When choosing a policy, cost should not be the only consideration. You’ll also want to choose a company with a good reputation for coverage as well as customer service.

Check out our guide to find cheap auto insurance rates close by.

Low Cost Auto Insurance for Bad Credit in Idaho Falls

Idaho allows insurance companies to consider potential insured driver’s credit history when setting a rate. This significantly increases the cost of insurance for those with blemished credit. For example, GEICO’s full coverage increases from the low of $713 to $ 1,088, which is the lowest rate of any insurance provider in the state. The highest rate is Allstate with an insurance premium cost of $2,503.

Check out this bad credit guide to help get lower auto insurance rates.

Full Coverage Vs. Liability, Which is Best For You?

What is Liability Only Insurance Coverage?

Liability insurance covers the possible cost of damage you cause to others while driving. This could mean the cost of medical care for those injured in an accident or repair costs of the damage you have caused to other vehicles.

With liability insurance, there are 3 key numbers: injury coverage per person, coverage for total injury per accident, and property damage coverage per accident. Each state has different requirements for car insurance minimums. In a policy that has coverage for 15/30/25 means $15,000 per injured person, with a maximum of $30,000 for all the people who are injured in an accident, and $25,000 in coverage for property damage.

Why You May Want Full Coverage Car Insurance

While liability insurance covers other people and vehicles in an accident where you were the one considered at fault, full coverage insurance can also cover you and your vehicle as well. Full coverage includes two different types of coverage combined into one insurance plan; comprehensive insurance and collision.

Comprehensive coverage is for the damage of other vehicles that are outside of driving situations such as weather damage, fire, or theft.

Collision coverage is basically to pay for damage that you caused while driving such as an accident with another vehicle, hitting an object, or driving off the road.

The difference between collision and comprehensive is, if a tree were to fall on your car and damage it, comprehensive insurance would cover it, however, if you were driving and hit a tree causing damage to your car, then it would be covered by collision.

Difference Between the Two Types of Coverage

Liability and Full coverage policies have many distinctions but the chief one is that under a liability policy your car is not covered. If you are in an accident and are found at-fault, your liability policy will cover the other driver and her passengers. A full coverage policy, on the other hand, covers damage done to your car as a result of a wide range of accidents, even if you are at-fault. These policies also differ when it comes to premium payments.

Average Annual Car Insurance Rates in Idaho by City

Additional cities in Idaho you can check out.


Ways to Lower Your Auto Insurance Rates

Save on Your Insurance Policy Rates With These Discounts in Idaho Falls:

  • Shop around:

    It could not be clearer. The smallest difference in our driver demographics between the most expensive and the bargain insurance rate was over $1,100 yearly. It is a good idea to shop around yearly, especially if your policy rate goes up, since insurance carriers can change their rates whenever they feel it’s necessary.

  • Avoid accidents and moving violations:

    These will increase your rate, sometimes substantially.

  • If you have an accident or moving violation:

    It is often a good idea to spend a little bit of money now and attend traffic school, rather than have these violations stay on your driving record for years.

  • Insure your home and car with the same company:

    If you can insure your home or apartment and your vehicles with the same insurance carrier, you can also save money, as there is often a discount for bundling multiple services.

  • Look for discounts :

    Often, there are good driver rates for those with no moving violations or student driver rates. Sometimes, your insurance agent will not tell you about these discounts, but you can find them online.

  • Rates are influenced by the type of vehicle :

    Insurance rates are much higher if you carry full liability and have a vehicle you are paying off. Sometimes it is best to buy a new car and just maintain it thoroughly. Eventually, you will have no car payment, and you can eventually drop the collision insurance. When cars get to a certain age, you will not receive enough back from the insurance company if your car is totaled in an accident to justify buying the collision insurance each year.

Not sure which discounts you may qualify for, consult this guide to learn more.

Idaho Falls Car Insurance Premiums Cost – What Affects Your Rates?

As you can see, car insurance rates are influenced by a complex set of factors, all of them are determined by risk data for each insurance agency. How much each agency charges, though, based upon similar risk data, can vary widely. In the case of younger drivers, they can save literally thousands of dollars each year by shopping around. The insurance agencies will charge drivers different rates for their automobile insurance premiums by their age and marital status, driving record, area they live in, and whether they carry liability-only or full coverage insurance. If the customer opts for collision insurance, the carriers will charge more for a lower deductible.

Since there are so many factors to take into consideration in how much an insurance agency charges you for automobile insurance, it quite literally pays to thoroughly educate yourself about automobile insurance and to shop around for the best quote.

Do you have a bad driving record and need cheap insurance? Check out this guide.

Helpful Idaho Falls, Idaho Vehicle Resources:

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DMV (Find Locations, Vehicle Registration, Titles and Insurance Info)


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