Iowa Homeowners Insurance Calculator: Free Cost Estimator (2023)
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Home Insurance Calculator
These are annual estimates. Get a personalized quote to determine your costs.
MoneyGeek analyzed home insurance costs in Iowa and determined that the most affordable company is Travelers. You can review our recommendations for the cheapest homeowners insurance in Iowa for different baseline dwelling coverages and various types of homes and homeowners.
But if you’re looking to strike a balance between cost and quality service, we found the best homeowners insurance companies in Iowa for various categories.
TABLE OF CONTENTS
How to Estimate the Cost of Your Homeowners Insurance Policy in Iowa
Homeowners insurance costs tend to vary greatly from person to person, which is why it helps to get a personalized estimate using the factors below. Use MoneyGeek’s Iowa home insurance calculator for a quick and reliable estimate of your potential policy cost.
Homeowners insurance costs tend to vary by city in Iowa. When computing your premium, companies consider how risky it is to insure a property in your location. According to the Iowa Department of Homeland Security and Emergency Management, the state is prone to severe weather, including tornadoes, heavy rains and flooding, blizzards and heavy snow. These hazards contribute to Iowans paying more than others for homeowners insurance.
In Iowa, the average dwelling coverage amount is $100,000. The dwelling coverage amount in your homeowners insurance policy refers to the amount of money that your insurer will pay to repair or rebuild your home if it is damaged/destroyed by a covered peril. It is, therefore, important that you have an accurate estimate of your home’s value so that you can purchase a policy with a sufficient coverage amount.
Your homeowners insurance policy deductible is the amount of money that you have to pay in a covered claim before your insurer pays its share of the expense. The amount usually ranges anywhere from $500 to $2,000, but it could be more. As an example, if you have a $500 deductible and file a claim for $15,000, you need to cover $500 before your insurer pays its $14,500 share.
Personal liability coverage pays for expenses if someone gets hurt on your property or if their property is damaged because of your negligence. It typically covers legal costs, replacement costs, medical expenses and death benefits. MoneyGeek encourages you to increase your policy’s liability limit by hundreds of thousands of dollars more per year because paying a few extra dollars per month on your premium could mean much more liability protection.
Make sure that you protect the personal items that you have within your home by getting enough personal property coverage. This part of your policy will reimburse you in case your belongings are stolen or damaged. Use MoneyGeek’s calculator below to get a quick estimate of the coverage you need for your personal belongings.
Insurance companies will check your credit score when calculating your homeowners insurance rate in Iowa. Generally, individuals with poor credit are charged a higher premium because they are seen as more likely to file a claim.
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Average Cost of Home Insurance in Iowa
An examination of the average annual premium for a $250K dwelling coverage policy reveals that Iowa is right along the median compared with other states. Its average rate of $2,137 per year for a $250K dwelling coverage amount is cheaper than the national average.
If you prefer to have a different coverage limit, review MoneyGeek’s table below, which shows the average premium for various dwelling coverage amounts in Iowa.
Average Annual Premium in Iowa for Homeowners Insurance
Make sure you’re getting enough protection by choosing a dwelling coverage amount that is sufficient to allow you to reconstruct your home in the event of a total loss.
To do this, you must consider your home’s age, square footage, features and building materials. For instance, you should factor in the building materials that were used in the original construction and whether they are now hard to find and will definitely drive up your costs.
MoneyGeek suggests that you get an accurate estimate of your appropriate dwelling coverage through a professional appraisal of your property. You might also want to consider purchasing extended replacement coverage or inflation guard coverage for added protection.
Frequently Asked Questions About Home Insurance in Iowa
Below are MoneyGeek’s answers to some of the most commonly asked questions about home insurance in Iowa to guide you in estimating your insurance costs.
To determine the average cost of homeowners insurance in Iowa, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance. This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius from a fire department
- Assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
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- Iowa Department of Homeland Security and Emergency Management. "Disasters." Accessed August 25, 2022.