If there’s anything an Iowa native would tell you, it’s that the Hawkeye State arguably is the safest and friendliest state in the United States. Maybe it’s the lack of traffic and road congestion. Perhaps it’s the relatively low cost of living compared to other states. The reality is that residents who call Iowa home lead happy lives and look out for their neighbors. 

Much like the rest of the US, Iowa is experiencing a seller’s market, with home values continually rising from $140,000. From Davenport to Iowa City, Iowans know the state is booming. Perhaps one day, Iowa‘s population of 3.1 million will surpass the 21.2 million hog population. (Yep, that’s right; for every one person in Iowa, there are four hogs.) That’s because Iowa is 92 percent farmland. And if you’ve lived in Iowa for a while, you know that the state economy heavily depends on agriculture and food production. 

Unfortunately, natural disasters, including heavy rains, heavy snow, blizzards, ice storms, flooding, tornadoes, and high winds, have brought a lot of damage to the state over the years. In the past 30 years, there have been 45 presidentially declared disasters in the state. And in August 2020, Iowa was impacted by a derecho, strong enough to be a Category 2 hurricane with winds topping 100 miles per hour. The storm leveled homes and businesses. It left thousands stranded without food or power. And 14 million acres of Iowa crops were severely affected. 

So, if you currently live in or are considering moving to Iowa, you must have the tools and resources necessary to have the best home insurance coverage available. 

Rely on Insurify to help you compare homeowners insurance quotes, personalized to your home needs. You can find the best rates at low prices in just seconds. 

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How to Get Affordable Home Insurance in Iowa

The good news is that the crime rate and property crime rate are particularly low in Iowa compared to other states. The crime rate per 1,000 residents in Iowa is 2.5. So your odds of vandalism or theft are extremely low. Low crime rates directly impact average home insurance premiums, which you can be thankful for if you live in or plan to move to the Hawkeye State.

Because homeowners insurance premiums are also affected by weather-related events, there is a chance for higher premiums in certain areas. More than anything, you need to have a safeguard for the unforeseen. You’ve committed to homeownership and need to keep your property protected against the unexpected. 

You also need to know your coverage options and whether you will need any add-ons. Whether choosing Allstate, State Farm, American Family, or West Bend Mutual, you need a good home insurance policy.

Learn what the best home insurance choices in Iowa are so you can keep your property running smoothly for generations to come. 

Homeowners insurance quotes in Iowa by Company 

Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.

As of 2020, the average home insurance premium in Iowa costs $2,488 annually, and the median home value is $154,727.

While home insurance rates are slightly below national averages, they still impact your wallet. You still have to keep up your home, provide food for your family, and enjoy life. Thankfully, you can read on and see how you can start saving on property insurance

Average Home Cost in Iowa Average Annual Insurance Premium in Iowa
$154,727 $2,488

Homeowners Insurance Quotes in Iowa by City

Real estate costs vary from place to place, as do home insurance rates. You’re probably wondering how pricing works. Well, it depends on which ZIP code you live in and the number of claims in that area. There are other variables as well, such as crime rates, home costs, and natural disasters, like storms and flooding. You could live in a tiny town or a big town, and yet your neighborhood could still affect how much you pay on annual premiums.

Rates in Iowa vary. They may be high or low to the national average, comparatively. These are the most and least pricey ZIP codes for home insurance in Iowa.

Most Expensive Real Estate in Iowa Cheapest Real Estate in Iowa
Ames $229,019 Maquoketa $120,471
Iowa City $228,493 Denison $116,347
Hiawatha $174,264 Iowa Falls $57,813

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What does home insurance cover in Iowa?

There are several types of home insurance. Specific terms of insurance policies may vary by state, but in general, the standard policy types are as follows:

HO-1

Basic

  • The simplest and least comprehensive type of homeowners insurance
  • Provides coverage for a handful of potential problems, including
    • natural disasters (storms, fires, wind, lightning, volcanic eruption), 
    • explosions, 
    • theft, 
    • damage from vehicles, 
    • or civil commotion. 
HO-2

Broad Form

  • Broad form homeowners insurance policies include all basic form coverage, plus protection from:
    • falling objects, 
    • damage from the weight of ice, snow, or sleet, 
    • freezing of household systems including HVAC and pipes, 
    • sudden and accidental damage to pipes and other household systems from artificially generated electrical current, 
    • accidental discharge or overflow of water or steam,
    • sudden and accidental damage. 
  • HO-2 policies typically cover both dwelling protection and personal property.
  • In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
HO-3

Special Form

  • The most common form of homeowners insurance is known as a “special form” policy.
  • While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4

Tenant’s Form

  • HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes. 
  • Tenant’s form policies typically cover all the same dangers as HO-2 policies. 
  • These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house. 
  • Some HO-4 policies may also include loss of use coverage for the tenants.
HO-5

Comprehensive

  • Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policies.
  • The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
  • An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy). 
  • HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
HO-6

Condo Form

  • Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies. 
  • They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building. 
  • These policies also include personal property and liability coverage and may include loss of use coverage.
HO-7

Mobile Home Form

  • If you own a mobile home or manufactured home, you likely have an HO-7 policy. 
  • Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
  • Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well. 
  • HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
HO-8

Older Home

  • Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them. 
  • HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes. 
  • Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.

Mobile Home Insurance in Iowa 

Mobile home insurance rates in Iowa can vary greatly. You can expect to pay anywhere from $250 to upwards of $1,200 a year. Mobile home insurance typically covers physical damage from vandalism, falling objects, wind and hail, lightning, fires, explosions, landslides, and more. It’s best to know what’s covered in your policy. 

You should also select certain limits for your coverage. The rule of thumb is you want to cover the cost to replace your mobile home in case the unforeseen occurs. Personal property coverage will cover the repairs or replacement of your personal belongings in the event of theft or damage. 

Also, take into account personal liability for cases when someone on your property gets hurt and decides to press charges. Liability coverage is also needed if you cause property damage or injuries to someone on your property. 

An HO-7 policy is a home insurance policy specifically for manufactured and mobile homes. This mobile home policy is for the safety of your personal property and physical structure of your home. Though it is similar to an HO-2, the HO-7 covered perils may differ, depending on insurance coverage and insurance providers

Insurance Coverage & Natural Disasters in Iowa

If you are from Iowa, you probably already know how the extreme weather in Iowa can impact crops and your livelihood, primarily if you work in agriculture or food production. If you are new to Iowa, you will quickly learn the effects of the weather there. And it can’t be stressed enough—natural disasters, including severe weather, have a detrimental impact on Iowa‘s properties and premiums. 

Iowa faces historic blizzards, tornadoes, ice storms, hail, and more. These weather-related events, as well as proximity to the Mississippi River, the Missouri River, the Maquoketa River, and many more, have led to parts of Iowa being underwater.. High levels of rainfall and runoff from snowpacks can cause reservoirs to become stressed and unable to control flood conditions. 

Flooding is a common occurrence for Iowans, as it’s only gotten worse over time. It would be best if you had the right plan in place in case of flooding. If you live in an Iowa river town, your insurance costs will be higher than the average costs. Take flood insurance into account. Additional coverage and flood insurance are available through the National Flood Insurance Program. 

Iowa Farm Bureau

Iowa has a history of helping neighbors out in times of crisis. The Iowa Farm Bureau offers assistance for Iowans in need of resources and information in cases of severe flooding, such as the flooding Iowa has seen in 2020. They offer 24/7 assistance to answer questions or to provide aid if you need flood recovery and are affected. They routinely aid in relief efforts by donating to flood victims. 

If you run a farm or work in agriculture, the Iowa Farm Bureau has the Farming Community Disaster Exchange, a forum for Iowans to seek neighbors’ assistance. Assistance may include donating extra hay, helping with livestock on your property, and cleaning up after damage. Insurance is also offered through the Iowa Farm Bureau. Ask your local insurance agent for more. 

 

Iowa Homeowners Insurance FAQs

Does Nationwide offer bundling with my Iowa auto insurance?

Many home insurance companies, including Nationwide, offer bundling on their insurance products. And bundling auto insurance with homeowners insurance in Iowa could lead to more savings through discounts. 

Should I get separate flood insurance for my Iowa home?

If you live anywhere near a river in Iowa, you are at risk of flooding. And because the standard renters or home insurance policy does not cover damages resulting from flooding, you should have separate flood coverage. Check with your local agent to see your risk and find out more insurance options.

How long does a home insurance claim take in Iowa?

Acceptance or denial of a homeowners insurance claim in Iowa must be 30 days after the receipt of documented proof of loss. And the acknowledgment of the claim must be made within 15 days of receipt (except payments being made during the period of time). The insurance company may provide forms and instructions to the claimant within 15 days as well.  

Special Home Insurance Situations in Iowa

Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Iowa.

Cheapest Home Insurance for Houses Near a Fire Department in Iowa

Insurance Company Average Annual Premium
Allstate $1,313
American Family $1,434
Iowa Mutual $1,465
Travelers $1,040

Cheapest Home Insurance for Houses Less Than 20 Years Old in Iowa

Insurance Company Average Annual Premium
EMC Insurance $1,172
Farmers $4,225
IMT Insurance $1,125
State Farm $2,407

Conclusion: How to find the cheapest home insurance in Iowa

Aside from the occasional flood and blizzard, life is good in the Hawkeye State. There’s much to see, like the bridges of Madison County, the famous Hawkeye football team, or the world’s largest strawberry! Just know that from Des Moines to Cedar Rapids, you not only live in one of the safest states in the country, but you also have your pick of the best homeowners insurance companies in the state. All it takes is using Insurify’s comparison tool to find quotes in minutes. 

Use Insurify to compare home insurance premiums for your property in Iowa. Our comparison tools make homeowners insurance shopping (and saving) simple so you can be on your way to enjoying your newly insured home in no time.

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Browse, compare, and secure home insurance with Insurify today! 

Yep, it’s that easy.  

Updated September 16, 2020

Stephanie Shaykin is a seasoned writer and marketing professional with experience in real estate. With a true passion for brand storytelling and SEO, she breaks down the most complex copy into a pleasant experience for the reader. In her spare time, she enjoys creating art and cooking in her home base of Chicago, Illinois.