Best and Cheapest Iowa Home Insurance as Rated by Customers in 2023
Best Iowa homeowners insurance
You probably don’t want to think about the potential need to file one or more homeowners insurance claims throughout your time as a homeowner, but it can and likely will happen at some point! The reality is that there are many things that your home can experience that would require a claim, from a fire to a burglary or an injury to a third party. Having one of the best Iowa homeowners insurance companies can put your mind at ease that if something were to happen, it would be handled properly.
To help you be more confident in your homeowners insurance company choice, we have reviews and rankings for hundreds of homeowners insurance companies so you can evaluate and compare the best Iowa home insurance companies. In the table above, you can sort through every homeowners insurance company ranked on Clearsurance. Next to each insurer you’ll find the company’s rating, which is based exclusively on the reviews and ratings provided by customers. Note: Only those companies with at least 25 homeowners insurance reviews are eligible to appear in the best Iowa homeowners insurance rankings.
If you’re looking for additional information on one of the best homeowners insurance companies in Iowa, you can visit the company’s profile page where you’ll learn about the company, additional coverages and potential discounts offered. You can also read reviews to see what other policyholders have to say about the home insurance company.
On this page:
- Best cheap homeowners insurance rates in Iowa for a $200K dwelling
- Best cheap homeowners insurance rates in Iowa for a $400K dwelling
- Iowa property crime statistics
- Iowa disaster statistics
Out of the companies analyzed, IMT Insurance offers the cheapest home insurance rates in Iowa for a $200K home, on average.
See the table below for the average rates for the five largest home insurers in the state.
|Company||Average rates for $200K dwelling|
|American Family Insurance||$2,001|
|Farm Bureau Property & Casualty Insurance Company (FBPCIC)||$1,532|
|State Farm Insurance Company||$1,366|
These rates are based on a $200,000 dwelling with the following coverage limits: $100,000 personal property, $20,000 loss of use, $20,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Iowa will differ. Rate data is provided by Quadrant Information Services.
Among the five largest home insurance companies in Iowa, IMT Insurance has the cheapest homeowners insurance rates in Iowa for a $400K home.
See the table below for average rates for all five insurers in Iowa.
|Company||Average rates for $400K dwelling|
|American Family Insurance||$2,904|
|Farm Bureau Property & Casualty Insurance Company (FBPCIC)||$2,456|
|State Farm Insurance Company||$2,159|
These rates are based on a $400,000 dwelling with the following coverage limits: $200,000 personal property, $40,000 loss of use, $40,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Iowa will differ. Rate data is provided by Quadrant Information Services.
Theft and vandalism or malicious mischief are among the 16 perils a standard homeowners insurance policy protects you from. So, how does crime in Iowa compare to other states around the country? The FBI published the following statistics on crime in Iowa for 2016:
- Property crime - 65,391
- Burglary - 15,030
- Larceny theft - 45,378
Iowa’s property crime rate and larceny theft rate, per 100,000 inhabitants, rank below the national average. However, Iowa’s burglary rate is slightly above the national average.
Weather-related incidents are typically among the costliest homeowners insurance claims. FEMA has published statistics for each state since 1953. Data is updated through August 2018. Here’s a look at the Iowa federally declared disasters since 1953:
- Flood - 27
- Severe storm - 26
- Tornado - 4
- Severe ice storm - 2
- Snow - 2
- Hurricane - 1
How are homeowners insurance rates calculated in Iowa?
Ever wonder why you pay what you do for Iowa home insurance? Some things may be obvious, like the age of your home. But other factors that contribute to the price of homeowners insurance may not be as obvious. Here’s a list of some of the things homeowners insurance companies consider when quoting you a rate:
- The level of coverage required
- The size of your mortgage
- Your credit score
- The square footage of your home
- The geographic location of your home in Iowa
- The condition of your home
- The age of your home
- The proximity of your home to a fire station
- Your previous claims record
- The amount of your deductible
- Optional add-ons like umbrella insurance
Zillow estimates that homeowners can expect to pay approximately $35 each month for every $100,000 of your home's value.
To find the best home insurance in Iowa, you have to analyze the various factors like the amount of comprehensive coverage, the cost of homeowners insurance policy, the ability to pay claims and the customer service of homeowners insurance providers. You also need to make sure that you can call an insurance agent if you have to file a homeowners insurance claim and that the insurance carrier will process and pay the covered damages properly.
How does Clearsurance rate and rank the best homeowners insurance companies in Iowa?
Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:
- Customer Service
- Claim service
- Likelihood to renew
The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.
The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.
Homeowners Insurance Guide
Your home is likely your most valuable asset, making it that much more important that you insure your home with one of the best Iowa homeowners insurance companies. But beyond just picking a company, it’s crucial to have the right coverage and to understand that coverage. Did you know that a standard homeowners insurance policy has six types of coverage? And did you know that there are usually 16 types of perils found in a homeowners insurance policy?
At Clearsurance, we want to make sure you have a strong understanding of your homeowners insurance coverage and what it all means. Check out our homeowners insurance guide to become a smarter insurance customer. And for more educational content on other homeowners insurance topics, check out our homeowners insurance blog!
Frequently Asked Questions
Who offers the best Iowa homeowners insurance rates for a $200K home?
Out of the companies analyzed, IMT Insurance offers the cheapest home insurance rates in Iowa for a $200K home, on average. IMT insurance is the most affordable homeowners insurance option for a homeowners policy with the lowest premium ever recorded. Coverage may cost less if you have a newer home, a hail-resistant roof or have bundled policies. An excellent credit score may get you a discount as well.
Who offers the best Iowa homeowners insurance rates for a $400K home?
Among the five largest home insurance companies in Iowa, IMT Insurance has the cheapest homeowners insurance rates in Iowa for a $400K home. You could enhance your policy with service line protection and water backup coverage. If your home is worth more than $175,000, you may also be eligible to get additional coverage with IMT's Gem package.