Cheapest Homeowners Insurance in Iowa (2024 Rates)


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ByMark Fitzpatrick
Edited byCasie McCoskey
ByMark Fitzpatrick
Edited byCasie McCoskey

Updated: May 22, 2024

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In Iowa, Auto-Owners earns recognition as the most economical home insurance company across all dwelling coverage limits. Meanwhile, Nationwide steps in with budget-friendly rates when insuring a newly built home. Note that factors like your credit history play a role in rate determination, with American Family potentially offering a more affordable choice for homeowners with lower credit scores.

MoneyGeek Logo IconCheapestHome InsuranceIowa
2024

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Why Trust MoneyGeek? MoneyGeek used information from the Iowa Insurance Division and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in Iowa as of 2024.

Overall Cheapest Homeowners Insurance in Iowa

Auto-Owners offers the cheapest home insurance in Iowa, charging an average of $739 annually. However, insurance prices can drastically change based on your dwelling coverage. Here's a breakdown of the cheapest Iowa providers for varying tiers of dwelling coverage:

  • Cheapest for $100,000: Auto-Owners at $739 per year
  • Cheapest for $250,000: Auto-Owners at $1,177 per year
  • Cheapest for $500,000: Auto-Owners at $1,847 per year

Examine additional options for cheap home insurance and see how costs adjust by dwelling coverage using our table below.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
Auto-Owners InsuranceAnnual Premium$739
FarmersAnnual Premium$830
American FamilyAnnual Premium$840
NationwideAnnual Premium$953
State FarmAnnual Premium$967
Farm BureauAnnual Premium$1,428
AllstateAnnual Premium$1,668

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Jun 13, 2024

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California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000
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User Info
California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000

Cheapest Home Insurance in Iowa for High-Value Homes

Auto-Owners is your cheapest choice for high-value home insurance policies with $750K in dwelling coverage at an average of $2,562 per year. Dwelling coverage significantly influences home insurance costs. View the cheapest choices for different dwelling coverage levels below:

  • Cheapest for $750,000: Auto-Owners at $2,562 per year
  • Cheapest for $1,000,000: Auto-Owners at $3,995 per year

When purchasing home insurance, we recommend choosing dwelling coverage limits equal to your home’s replacement cost rather than its market value. Look at the table below to see how rates change by provider for higher dwelling coverage limits in Iowa.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
Auto-Owners InsuranceAnnual Premium$2,562
FarmersAnnual Premium$3,201
American FamilyAnnual Premium$3,472
State FarmAnnual Premium$4,017
NationwideAnnual Premium$4,656
Farm BureauAnnual Premium$4,696
AllstateAnnual Premium$5,085

Cheapest Home Insurance in Iowa for New Homes

In Iowa, Nationwide offers the most affordable home insurance for a new home with $100K in dwelling coverage, charging an average annual premium of $388. It's typically less expensive to insure newer homes in Iowa as their updated construction standards and modern materials reduce the probability of damage or accidents occurring.

Here's the rundown on the cheapest companies in Iowa for different levels of dwelling coverage:

  • Cheapest for $100,000: Nationwide at $388 per year
  • Cheapest for $250,000: Nationwide at $651 per year
  • Cheapest for $500,000: Nationwide at $1,115 per year

Explore the table below to see Iowa's cheapest home insurance providers for your desired coverage levels.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
NationwideAnnual Premium$388
American FamilyAnnual Premium$471
Auto-Owners InsuranceAnnual Premium$523
State FarmAnnual Premium$578
FarmersAnnual Premium$607
AllstateAnnual Premium$728
Farm BureauAnnual Premium$729

Cheapest Home Insurance in Iowa for Low Credit Scores

In Iowa, American Family offers the most affordable home insurance for homeowners with poor credit at $1,305 annually on average for $100K in dwelling coverage. Credit scores significantly impact home insurance rates since insurers use them to assess policyholder default risk.

  • Cheapest for $100,000: American Family $1,305 per year
  • Cheapest for $250,000: American Family $2,415 per year
  • Cheapest for $500,000: American Family $3,982 per year

Low credit scores demonstrably influence insurance costs, earning an average rate of $5,957 annually for $100K in dwelling coverage, contrasting sharply with the $1,061 premium for those with good credit.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
American FamilyAnnual Premium$1,305
NationwideAnnual Premium$1,488
State FarmAnnual Premium$2,562
Farm BureauAnnual Premium$2,747
AllstateAnnual Premium$3,417
FarmersAnnual Premium$4,697
Auto-Owners InsuranceAnnual Premium$25,482

Cheapest Home Insurance in Iowa With a Claims History

For a policy with $100K in dwelling coverage, the most cost-effective home insurance company in Iowa for homeowners with one claim within the last five years is Auto-Owners. Note that homeowners with a claim history tend to face higher insurance premiums due to potential repeated claims in the future.

Here are the cheapest companies in Iowa for the different coverage values for policyholders with a claim history:

  • Cheapest for $100,000: Auto-Owners at $739 per year
  • Cheapest for $250,000: Auto-Owners at $1,177 per year
  • Cheapest for $500,000: Auto-Owners at $1,847 per year

Filing more claims can cost you more in premiums. For instance, having two claims in the past five years can cost you an average of $240 more annually than those with no claims.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Auto-Owners InsuranceAnnual Premium$739
State FarmAnnual Premium$967
American FamilyAnnual Premium$994
FarmersAnnual Premium$1,000
NationwideAnnual Premium$1,204
Farm BureauAnnual Premium$1,892
AllstateAnnual Premium$2,114

Cheapest Home Insurance in Iowa by Home and Roof Materials

The type of construction and the materials used for your roof significantly impact the cost of your home insurance. Iowa's cheapest home insurance premium for a frame-constructed home with a shake-treated roof is from Auto-Owners at an average annual rate of $843. These particular factors drive up the cost of insurance due to their increased likelihood of damage and potential risk factors.

The cheapest rates for various coverage values in Iowa for frame-constructed shake-treated homes include the following:

  • Cheapest for $100,000: Auto-Owners at $843
  • Cheapest for $250,000: Auto-Owners at $1,343
  • Cheapest for $500,000: Auto-Owners at $2,107

Choosing a superior constructed home with a tile roof can save around $329 in annual insurance premiums compared to a frame-constructed, shake-treated roof. Given the weather conditions in Iowa that can easily damage lower-quality materials, this choice can greatly reduce your insurance costs.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Auto-Owners InsuranceAnnual Premium$843
American FamilyAnnual Premium$854
FarmersAnnual Premium$879
State FarmAnnual Premium$967
NationwideAnnual Premium$1,137
AllstateAnnual Premium$1,732
Farm BureauAnnual Premium$2,174

Cheapest Home Insurance in Iowa by Deductible

A higher deductible can lead to hundreds of dollars in savings. For example, in Iowa, the cheapest home insurer for a $2,000 deductible is Nationwide, costing $698 annually on average, compared to the most affordable for a $500 deductible, Auto-Owners, at $808 annually.

Depending on your deductible level, the most affordable home insurers in Iowa are:

  • $2,000: Nationwide at $698 per year
  • $1,500: Auto-Owners at $731 per year
  • $1,000: Auto-Owners at $739 per year
  • $500: Auto-Owners at $808 per year

Regarding home insurance, the deductible is the amount you pay before insurance coverage kicks in. It's worth taking into account since it costs an average of $277 more for a policy with a $500 deductible than a $2,000 deductible.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
NationwideAnnual Premium$698
Auto-Owners InsuranceAnnual Premium$722
FarmersAnnual Premium$798
American FamilyAnnual Premium$812
State FarmAnnual Premium$872
Farm BureauAnnual Premium$986
AllstateAnnual Premium$1,449

Cheapest Home and Auto Insurance Bundle in Iowa

Auto-Owners offers the cheapest home and auto insurance bundle in Iowa at an average of $1,912 annually, allowing you to score considerable discounts.

The cheapest home and auto bundles in Iowa include the following companies:

  • Auto-Owners at $1,912 per year
  • State Farm $2,020 per year

Bundling isn't just pocket-friendly; it's also convenient since you'll handle both policies with the same insurer. This allows for easier management of policies, efficient communication with the insurer and a smoother insurance journey for you. Discover more about the best Iowa insurance bundle and explore the benefits.

Auto-Owners Insurance CoAnnual Premium$1,912
State FarmAnnual Premium$2,020
AllstateAnnual Premium$2,366

Cheapest Home Insurance in Iowa by City

Auto-Owners is the cheapest home insurance provider in most Iowa cities, with rates ranging from $676 to $736. These rates vary across localities based on local crime rates, building codes and weather risks. For example:

  • Cedar Rapids has the lowest annual average premium for its cheapest company, Auto-Owners, at $676.
  • In contrast, the cheapest policy in Des Moines is $736 with the same provider.

We recommend shopping around for quotes, as insurers' calculations for rates can vary by area, offering potential savings opportunities. Our table below explores the cheapest premiums by city in Iowa.

Cedar RapidsCheapest CompanyAuto-Owners InsuranceAnnual Premium$676
DavenportCheapest CompanyAuto-Owners InsuranceAnnual Premium$694
Des MoinesCheapest CompanyAuto-Owners InsuranceAnnual Premium$736

About Mark Fitzpatrick


Mark Fitzpatrick headshot

Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.