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Iowa is a lovely state to live in and visit. It offers everything from quaint little villages that are like a step back in time to more cosmopolitan cities such as Des Moines that offer all the luxury and convenience that you would expect from a larger city.
Outdoor time in Iowa is something special. Regardless of whether you are hitting the Mississippi River in your boat, skiing in the winter or visiting one of our many zoo’s and museums, Iowa is a treasure trove of activities.
In terms of area, Iowa is the 26th largest state in the country. Its population of 3,046,355 people ranks it as the 30th most populous state.
The most recent census shows the population of Iowa is 3,046,355. This breaks down to roughly 1,716 households per zip code with an average of three people living in each house.
While the average household income, which is $34,463, is a bit below the national average, housing is very affordable in Iowa with the average house value coming in at $61,428.
Homeowners Insurance in Iowa
The Hawkeye State is a real bargain when it comes to insuring your home. The average cost of a HO-3 policy which is considered the industry standard, is extremely affordable at $832 a year. The national average is a much more expensive $1,034.
Despite the fact that homeowners insurance in Iowa is pretty cheap, there are steps you can take to lower your premium even more. Following are a few tips on driving your insurance costs down:
- Shop Around: Experts recommend that you shop your homeowners insurance at least once a year. Insurance companies rate risk differently and the difference between premiums can be dramatic. You should always make sure you're comparing apples to apples when it comes to coverage levels and deductibles.
- Discounts: Discounts can add up to real savings. All insurance companies offer discounts to make sure you're getting every discount you are entitled to receive. Discounts range from bundling to going paperless on your bills and policy.
- Upgrade Your House: Insurance companies love secure houses. Adding a security system, monitored fire alarm or upgrading your roof to wind resistant materials will all result in a discount.
Insurance Rates by Homeowners Insurance Type
Homeowners insurance comes in a variety of types and each one is specifically designed for the type of home that it insures. Following is a quick overview of the various types of homeowners insurance as well as the average premium for each type according to the NAIC.
Dwelling Fire: Fire Dwelling is a bare bones type of homeowners insurance and only offers a very narrow range of coverage. These policies can be much cheaper but they only cover fire and smoke damage. Some of these policies will also cover explosions, wind and damage from vandalism.
According to NAIC data, the average cost of a DF policy in Iowa is an extremely affordable $468 but only 0.7 percent of policies written in Iowa are DFs.
HO-2: This is another very basic homeowner policy type but it is a bit more robust than dwelling fire policy. These policies only cover perils that are specifically listed in the policy.
Only 1.4 percent of Iowa policies are HO-2s with the average premium coming in at $1,069.
HO-3: This is considered a standard homeowners policy and is the type of policy that the majority of Iowans carry. These policies offer protection from all perils except the ones that are specifically excluded in the policy wording. All standard homeowner policies exclude earthquake and flood damage
Data from the NAIC shows that the HO-3 is by far the most popular policy type with 65.8 percent of Iowa policies being HO-3s. The average premium for a HO-3 is $832.
HO-4: This is also called renters insurance as it is designed specially for apartment dwellers. It offers protection for your personal possessions as well as offering some limited liability coverage in the event a person is injured in your apartment.
These policies are fairly popular with 16 percent of policies being renters insurance.
HO-5: HO-5 polices are designed for newer, more upscale homes. This policy offers protection for your home as well as any additional structures on your property. It will also cover loss of use and your personal property is protected against all perils except those excluded on the policy. HO-5s are not available for older homes.
Roughly 11 percent of policies in Iowa are HO-5s and the average premium is $902.
H0-6: This policy type is for condos and co-ops. An HO-6 protects your personal property as well as the specific parts of the building that you own such as the internal walls in your unit. Coverage is limited to 16 specific perils.
In the great state of Iowa, roughly 4.7 percent of homeowner policies are HO-6s.
Factors to Consider in Iowa
Iowa is home to some severe weather regardless of the season. Tornados and severe thunderstorms can do major damage to a home in the summer. Hail can damage siding as well as your roof and a tornado can completely destroy a home.
The danger doesn’t stop in winter as freezing temperatures and heavy snowfall can result in ice dams, frozen pipes and even a collapsed roof.
While it is impossible to outsmart Mother Nature, you can take steps to help minimize the damage from these types of storms. Wind resistant roofing materials can help and adding storm shutters can also help minimize storm damage.
If you are making the move to Davenport, Council Bluffs, Cedar Rapids or any other of our beautiful Iowa towns or cities you will need to find a great policy for your new home. We can easily help you shop and compare up to 12 different Iowa home insurance premiums and apply all the available discounts and credits.
Get started today, contact us to get quick online quotes on your homeowners insurance in Iowa.
Average Homeowners Insurance Premiums in Iowa
With over 95% of all Americans are known to have homeowners insurance coverage, it's important to know what Iowa homeowners are paying on average. Did you know that the average homeowners insurance premium in Iowa is $998? Iowa is now ranked 37 in the country. The country wide average for homeowners in the United States is $1,311. This means the average home insurance premium in Iowa is 23.87% less than the national average.
|Year||Average Annual Premium||Average Monthly Premium||State Rank (Overall)|
|2020||$998 (9.3%)||$ 83||37|
|2019||$913 (-7.5%)||$ 76||42|
|2018||$987 (2.36%)||$ 82||35|
|2017||$964 (1.99%)||$ 80||36|
|2016||$945 (2.79%)||$ 79||38|
When we combine the state averages over the last decade, the Iowa overall average is estimated to be around $880.93. Our homeowners insurance quoting and rating process helps you compare homeowners insurance quotes, coverages and premiums. Iowa current state rank compare to the rest of the country is #37. Consider shopping your Iowa home insurance with us so we can help you save up to 40% or more on your policy.
Find Local IA Homeowners Insurance Quotes & Coverage
For more information on homeowners insurance in your area, choose a county below:
- Black Hawk
- Buena Vista
- Cerro Gordo
- Des Moines
- Palo Alto
- Van Buren
Iowa Homeowners Insurance News & Information
Florida Homeowners Advance From Citizens into Private Companies Posted on Tuesday 5th December, 2023
Homeowners Choice Property and Casualty Insurance Co. has assumed approximately 53,750 policies from Citizens Property Insurance Corp., Florida’s state-backed insurance company, the parent company says in a Tuesday news release. Homeowners Choice is owned by HCI Group Inc., a holding company with operations in homeowners insurance, information technology services, real estate and reinsurance. Homeowners Choice […]
North Carolina Joint Underwriters and Wind Pool Map Explained Posted on Thursday 30th November, 2023
North Carolina is a lovely state to call home. Our state is packed with beautiful cities, museums, restaurants and of course, some of the loveliest beaches in the country. Unfortunately, if you live in one of our amazing coastal southern cities such as Ocean Isle Beach, Holden Beach, Oak Island Beach, Calabash, Bald Head Island, […]
Did you know? Your Home Insurance Doesn’t Cover… Posted on Wednesday 29th November, 2023
While homeowners insurance covers a variety of perils and protects your home and personal possessions, it does come with a number of exclusions and coverage gaps that can result in you having to cover the cost of certain damage out of pocket. Let’s have a quick look at what your homeowners policy does and doesn’t […]
2024 Homeowners Insurance Outlook Receives Negative Rating Posted on Tuesday 21st November, 2023
The insurance news for 2024 is certainly not great. Experts expect that extreme weather and increasing costs will push up insurance costs and make insurance companies more selective when deciding where they will write policies. Recently, credit rating agency AM Best downgraded the entire home insurance industry from stable to negative. According to Richard Attanasio, […]
What Is the 80/20 Rule In Homeowners Insurance? Posted on Wednesday 8th November, 2023
If you are purchasing a home, your lender will require that you carry homeowners insurance to protect their investment in your home. Homeowners coverage will help cover the cost of repairing or replacing your home if it is damaged or destroyed by a covered peril. Covered perils can include items such as a hurricane or […]
Iowa Housing & Real Estate Data
|Total Housing Units||1336417|
|Occupied Housing Units||1221576|
|Vacant Housing Units||114841|
|Vacant Housing Units for Rent||31812|
|Vacant Housing Units Rented Not Occupied||1803|
|Vacant Housing Units For Sale||18405|
|Vacant Housing Units Sold Not Occupied||5555|
|Vacant Housing Units For Seasonal Occasional Use||21020|
|Vacant Housing Units All Other Vacants||36246|
|Housing Units Homeowner Vacancy Rate Percent||2|
|Housing Units Rental Vacancy Rate Percent||8.5|
|Housing Tenure Occupied Units||1221576|
|Housing Tenure Occupied Units Owner Occupied||880635|
|Housing Tenure Occupied Units Owner Occupied Population||2217901|
|Housing Tenure Occupied Units Owner Occupied Averge Household Size||2.52|
|Housing Tenure Occupied Units Renter Occupied||340941|
|Housing Tenure Occupied Units Renter Occupied Population||730342|
|Housing Tenure Occupied Units Renter Occupied Average Household Size||2.14|
Understanding Iowa Homeowners Insurance
When shopping for Iowa homeowners insurance quotes you should be aware of the various types of insurance policies that are available in your area:
- HO-3: This is the most common type of homeowers policy. This policy type protects your home against all perils, except ones that are specifically excluded. In most cases earthquake and flood damage are excluded.
- H0-6: This policy type is specifically written for condos or co-ops. If you own a condo or live in a co-op building this type of policy is a necessity. A HO-6 policy covers both your personal belongings and the structural parts of the building that you own. There are 16 disasters listed on a typical policy that HO-6 protects against.
- HO-4: If you are looking for Iowa renters insurance, a HO-4 policy is a great option. Renters insurance will cover your contents as well as offer liability coverage in the event a person is injured in your apartment.
While other types of policies exist, these are the most common ones. A HO-2 is a more basic policy that offers reduced coverage levels and a HO-5 is a high-end policy that offers increased protection.
If you are shopping for a new home in Iowa, homeowners insurance is a must do. We can help you find the perfect policy for your new home, regardless of whether you need a standard HO-3 policy, HO-6 or renters insurance, our site makes shopping for homeowners insurance quotes easy. Visit our online quoting application today and let us help you shop and compare up to 12 different Iowa rates and coverage options.