Best and Cheapest Renters Insurance in Iowa for 2024

The need for renters insurance is not as well understood as the need for car or homeowners insurance. It’s important to understand that your landlord likely has insurance that covers the structure of the building you’re living in, but their policy doesn’t cover your personal belongings (i.e. anything you bring into the apartment). That’s where renters insurance comes in — it covers your items from perils in your apartment and also provides liability coverage in case an accident occurs in your apartment.

So if you want to ensure you’re properly covered while renting, it’s important to find one of the best Iowa renters insurance companies. But where do you start? In the table above, you can sort through all the renters insurance companies ranked on Clearsurance. The rating next to each company — the insurer’s Clearsurance score — is based exclusively on the thousands of ratings provided by customers. Note: Only those companies with at least 25 renters insurance reviews are eligible to appear in the best Iowa renters insurance rankings.

Interested in learning more about one of the companies on the list of the best renters insurance companies in Iowa? You can visit the company’s profile page to find more information about the company and read reviews to learn from the experiences of other policyholders.

On this page:

• Iowa renters insurance rates
• Average cost of renting in Des Moines
• Renters insurance for Iowa college students
• Iowa property crime statistics

What are your coverage options on a renters insurance policy?

Just like any other policy, you can usually customize your renters insurance coverage to get exactly what you need. Most policies contain some form of the following coverages:

Just like any other policy, you can usually customize your renters insurance coverage to get exactly what you need. Most policies contain some form of the following coverages:

• Personal property coverage – This coverage pays the replacement cost for the personal items you keep in your apartment should they be damaged or destroyed.

• Liability coverage – Liability insurance pays for medical expenses if someone is injured in your apartment.

• Loss of use coverage – Loss of use pays for your hotel and food expenditures when you are unable to stay in your apartment because of damages. This may also be called additional living expenses coverage.

Beyond these basic coverage options, you may also be able to purchase identity theft protection, guest medical coverage, and other optional coverages.

People who keep expensive items in their apartments, like musical instruments, jewelry, or sports equipment, may wish to increase their coverage limits.

Who offers the lowest rates on renters insurance in Iowa?

Out of the most popular renters insurance companies in Iowa, Auto-Owners Insurance, is the cheapest insurance company in Iowa as well.

As an apartment renter in Iowa, you can look into renters insurance to get peace of mind your belongings are protected. Be aware that some companies may offer renters insurance in Iowa for a cheaper rate than others. In the table below, you can see the average cost of renters insurance in Iowa from some of the largest companies in the state.

These average renters insurance rates are based on a policy with $30,000 in personal property coverage (with a $500 deductible), $100,000 in personal liability and $1,000 in medical payments to others. 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.

How much does rent cost in Des Moines?

In Des Moines, Iowa, the average cost of rent is $877 per month. The cost to rent an apartment in Des Moines varies based on your location within the city as well as the size of your apartment.

Iowa is well known for its agriculture and farmland, but there are a few metropolitan areas, including Des Moines, the most populous city in the state. While the average monthly cost of rent in Des Moines is $877, that can vary based on where in the city your apartment is located. The area of Downtown Des Moines has an average monthly rent of $1,136, but 97 percent of apartments in Des Moines cost less than $1,000 per month. Average monthly rent can even be as low as $627 per month in the areas of Highland Park and Union Park.

Additionally, the type of apartment affects the cost of rent. On average, studio apartments cost $707 per month and one-bedroom apartments cost $856 per month while three-bedroom apartments cost $1116 per month. Renters should consider purchasing a renters insurance policy to give them peace of mind that their personal belongings will be covered in the event of loss or damage by a covered peril like theft.

Do Iowa college students need renters insurance?

With more than 50 colleges and universities scattered across the state, Iowa has many college students that live in dorms or rent apartments. There are a few things for college students renting housing in Iowa to consider in order to protect their personal belongings.

Typically, college students who live in dorms located on the college campus are covered by their parents homeowners insurance policy. That’s usually only the case for students who live on campus, though. Iowa college students who rent apartments off campus should consider a renters insurance policy because their items won’t be covered under their parents’ policy, and without a renters insurance policy, they won’t have any protection.

College students will most likely have roommates in the apartment they rent. It’s not advised that students share renters insurance policies with roommates. Rather, each student should have their own renters insurance policy to protect their own belongings.

What are Iowa's property crime statistics?

Theft and vandalism or malicious mischief are among the 16 perils a standard renters 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.

How can you save money on your renters insurance in Iowa?

Insurance providers will look at a variety of factors when setting your rates, including your age, credit score, marital status, location, and more.

While renters insurance may be more affordable than other types of insurance, no one wants to pay more than they have to. So what are the different ways that you can lower your Iowa renters insurance premium and have some extra spending money?

Here are the top 5 ways to save on your renters insurance:

• Raise your deductible
• Ask about potential discounts
• Bundle your policies
• Determine the value of your personal property
• Pay in full by check

If you bundle your auto policy with homeowners or renters insurance policy with the same company, you will usually receive a multi-policy discount (this might also be available for bundling with other types of insurance, such as a life insurance policy or boat insurance policy). Some companies also offer discounts for safety features in your apartment, such as smoke detectors, or for setting up automatic payments.

A wide range of insurance discounts may be available, so make sure to ask renters insurance providers about your options when you're shopping around for quotes. If you're looking for the most affordable rate, get quotes on a renters policy from at least three companies before making a decision.

How does Clearsurance rate and rank the best renters 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:

• Price
• 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.

What is a renters insurance guide?

As we mentioned above, there’s common misconceptions regarding what is and isn’t covered by a renters insurance policy. Before you purchase a policy from one of these best renters insurance companies in Iowa, it’s important to understand what your policy covers. For example, did you know that many renters insurance policies include liability protection in the event a non-resident is injured on the property. Plus, if your apartment becomes uninhabitable from an incident, some policies may cover your expenses as you find temporary housing.

We want to make sure you’re equipped with a proper knowledge of renters insurance, so check out our renters insurance guide. Looking for more educational information about renters insurance? Check out our renters insurance blog for more information and topics related to renters insurance.