How Much Is Home Insurance in Iowa? Best Companies and Tips

Home insurance is a type of property insurance that covers your home and personal belongings from various risks, such as fire, theft, vandalism, storm damage, and liability claims.

Home insurance is not mandatory in Iowa, but it is highly recommended to protect your investment and financial security.

How Much Is Home Insurance in Iowa?
How Much Is Home Insurance in Iowa?|NERD WALLET

 

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Average Cost of Home Insurance in Iowa

The average cost of homeowners insurance in Iowa is $1,318 per year, or about $110 per month.

This is slightly less than the national average of $1,428 per year.

That means Iowa homeowners pay about 8 percent less than the average American homeowner.

The cost of home insurance in Iowa depends on several factors, such as:

1.The size, age, and condition of your home
2.The location and crime rate of your neighborhood
3.The amount and type of coverage you choose
4.The deductible and policy limits you select
5.Your credit history and claims history
6.The discounts and bundling options you qualify for

To get the best rate for your home insurance, you should compare quotes from multiple insurers and choose the one that offers the most coverage for the lowest price.

Best Home Insurance Companies in Iowa

There are many home insurance companies in Iowa, but not all of them offer the same level of service, coverage, and affordability. To help you find the best home insurance company in Iowa, we have analyzed the following criteria:

1.Average rates, as provided by Quadrant Information Services
2.Customer service ratings, as measured by J.D. Power
3.Financial stability ratings, as assessed by AM Best
4.Coverage options and discounts, as reported by the companies’ websites and apps

Based on our research, here are some of the best home insurance companies in Iowa:

State Farm

State Farm is the largest home insurance provider in Iowa, with a market share of 23.5 percent.

State Farm offers a wide range of coverage options, including dwelling, personal property, liability, medical payments, loss of use, and identity theft protection.

State Farm also has many discounts, such as multi-policy, home security, impact-resistant roof, and higher deductible discounts.

State Farm has a 5.0 out of 5.0 NerdWallet rating and a 4.1 out of 5.0 Bankrate score.

It also has a 4 out of 5 rating for overall customer satisfaction from J.D. Power and an A++ (Superior) rating for financial strength from AM Best.

The average annual rate for State Farm home insurance in Iowa is $1,630, which is slightly higher than the state average.

Farmers

Farmers is another popular home insurance company in Iowa, with a market share of 9.7 percent.

Farmers offers customizable coverage options, such as dwelling, personal property, liability, medical payments, loss of use, and additional coverages for identity theft, eco-rebuild, and personal articles.

Farmers also has several discounts, such as multi-policy, claim-free, protective devices, and new home discounts.

Farmers has a 5.0 out of 5.0 NerdWallet rating and a 4.0 out of 5.0 Bankrate score.

It also has a 3 out of 5 rating for overall customer satisfaction from J.D. Power and an A (Excellent) rating for financial strength from AM Best.

The average annual rate for Farmers home insurance in Iowa is $1,960, which is higher than the state average.

American Family

American Family is a regional home insurance company that serves 19 states, including Iowa. American Family offers standard coverage options, such as dwelling, personal property, liability, medical payments, and loss of use, as well as optional coverages, such as equipment breakdown, matching siding, and water backup.

American Family also has various discounts, such as multi-policy, loyalty, smart home, and autopay discounts.

American Family has a 4.5 out of 5.0 NerdWallet rating and a 4.0 out of 5.0 Bankrate score.

It also has a 3 out of 5 rating for overall customer satisfaction from J.D. Power and an A (Excellent) rating for financial strength from AM Best.

The average annual rate for American Family home insurance in Iowa is $1,985, which is higher than the state average.

How to Save Money on Home Insurance in Iowa

Home insurance is a significant expense for many homeowners, but there are ways to lower your premium and save money.

Here are some tips to help you save money on home insurance in Iowa:

1.Shop around and compare quotes from different insurers
2.Choose a higher deductible to lower your premium
3.Bundle your home and auto insurance with the same company
4.Install security and safety devices, such as smoke alarms, fire extinguishers, and burglar alarms
5.Maintain and improve your credit score
6.Avoid filing small or unnecessary claims
7.Ask for discounts that you may be eligible for, such as senior, military, or loyalty discounts

How do I file a claim for home insurance in Iowa?

1. Contact your insurance company right away to start the claims process.

You can do this by calling your agent, using a claims line, filing online, or using a mobile app.

To protect your rights, you should do this in writing.

2. Ask the insurance company to send an adjuster to look at your property.

The adjuster will inspect the damage and estimate the cost of repairs or replacement.

You should cooperate with the adjuster and provide any documents or information they request.

3. Document the damage in detail; take pictures or record video to support your claim.

You should also make a list of the items that were damaged or lost, and include their value and receipts if possible.

You should also keep copies of any repair bills or receipts for temporary living expenses.

4. Make sure you understand what’s covered by your policy and what may result in a denied claim.

You should read your policy carefully and ask your agent or company any questions you have.

Some common exclusions or limitations in home insurance policies are flood damage, mold, wear and tear, and intentional acts.

5. If necessary, you can call the Iowa Insurance Division at 515-281-5705 to report any problems or complaints with your insurance company or adjuster.

The Iowa Insurance Division regulates insurance companies and agents in Iowa and can help you with any issues or disputes related to your claim

Conclusion

Home insurance is an important protection for your home and personal belongings in Iowa.

The average cost of home insurance in Iowa is $1,318 per year, but it can vary depending on your individual factors and the company you choose.

To find the best home insurance company in Iowa, you should compare rates, coverage, customer service, and financial stability of different insurers.

You should also look for ways to save money on your premium, such as choosing a higher deductible, bundling your policies, and installing security devices.

By doing so, you can get the best coverage for your home at the best price.

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