The Best and Cheapest Renters Insurance in Des Moines, IA, for 2024: Rankings, Reviews and Rates

Renters insurance providers in Des Moines offer similar core coverages. That’s why the cost is an important factor to consider. To get the best deal for your needs, compare renters insurance rates.

In Des Moines, on average, the most affordable renters insurance policies are offered by the following companies:

• State Farm: $70 per year
• Allstate: $84 per year

The sample policy MoneyGeek used has $20,000 in personal property coverage, $100,000 in liability coverage and a deductible of $500. To see how your rate may change based on your chosen personal property coverage limit, check the table below.

If you don’t live in Des Moines, MoneyGeek found average rates for renters insurance companies in Iowa.

Based on MoneyGeek’s research, the best renters insurance companies in Des Moines are:

• Best Overall: State Farm
• Runner-Up: Allstate

These ratings are based on MoneyGeek’s unique scoring system, which evaluates an insurer’s affordability, customer satisfaction ratings from J.D. Power and financial stability ratings from AM Best. We also considered the unique coverages of these companies that other renters insurance companies may not have.

The national average cost of renters insurance is $159 per year. Renters in Des Moines pay around $56 less, with an average premium costing roughly $103 per year.

Des Moines renters insurance is 19.0% less than the U.S. average.

While many different factors impact the cost of renters insurance in Des Moines, the following factors have the greatest influence on rates.

1. Personal property coverage amount. This has the biggest impact on your renters insurance premium. MoneyGeek recommends that you determine how much coverage you need so you don’t pay too much or too little.
2. Location. Where you live in Des Moines plays a role when insurance providers calculate the cost of your premium, although crime rates don’t heavily impact the cost of your policy compared to other factors.
3. Deductible. Paying a higher deductible means paying a lower premium each month. Because you pay more out-of-pocket when you file a claim, your insurance provider charges less.
4. ACV vs. RCV. There are two ways that insurance companies typically reimburse you, through actual cash value (ACV) or replacement cost value (RCV). Having ACV means that you get the depreciated value of your items. Meanwhile, with RCV, you get enough money to buy a similar new item. That’s why policies with RCV are often more expensive than those with ACV.
5. Liability coverage amount. This has the least impact on the cost of a renters insurance policy. The standard amount is $100,000. However, if you pay a few dollars more each year, you can increase your limit by thousands of dollars.

The neighborhood in which you live doesn’t greatly impact the cost of your renters insurance premium. MoneyGeek’s research shows that your location only affects your premium by a couple of dollars per month.

Renters insurance is an incredibly low-cost way to protect your belongings. MoneyGeek recommends purchasing renters insurance in Des Moines, even if it isn’t legally required.

It’s best to compare policies when you’re shopping for renters insurance in Des Moines to find the best deal.

Consider purchasing renters insurance regardless of whether you live in an apartment or house. Renters insurance can cover various perils, like water damage, fire and theft — things that can happen anywhere. In Des Moines, renters insurance policies usually include:

• Personal property coverage: Items such as your furniture, electronics and clothing have financial protection against risks like vandalism, fire and theft.
• Additional living expenses: If your rented unit becomes uninhabitable after a covered peril, this coverage pays, to policy limits, for temporary housing and related expenses.
• Liability insurance: If an accident occurs within your rented unit and it causes damages or injures another individual, this covers any legal or court judgment costs.
• Medical payments coverage: This covers medical expenses if someone is injured within your rented property, regardless of who is at fault, to policy limits.nd other unexpected perils with a renters policy.

Renters insurance companies in Des Moines typically include the following coverages:

• Personal property coverage: This protects your personal property from risks such as theft, fire, plumbing issues, electrical malfunction and weather-related incidents.
• Additional living expenses: Your rented unit may become uninhabitable after a covered incident. This coverage reimburses your temporary housing expenses.
• Liability insurance: If you’re found to be at fault for an accident that has occurred in your rented dwelling, this coverage pays for legal expenses and damages.
• Medical payments coverage: This coverage pays for a person’s medical expenses if they are injured in your rented home. This applies no matter who’s at fault in the incident.

Renters insurance has its limits — for example, it covers your personal property but not the unit’s structure since it’s the owner’s responsibility.

In some cases, it’s wise to purchase additional coverage since certain perils like flood damage aren’t covered by standard renters insurance policies. To get protection against flood damage, renters can purchase incremental insurance through the National Flood Insurance Program (NFIP).

Additionally, renters insurance will not cover your roommate's possessions, earthquake damage, damage to your car, jewelry or similar items that exceed your policy’s limit. MoneyGeek advises renters to always read their policies carefully — as not all policies offer the exact same coverages.

If you’re shopping for renters insurance in Des Moines, consider insurers that balance both quality service and cost. MoneyGeek answered commonly asked questions about renters insurance in Des Moines.

MoneyGeek analyzed hundreds of renters insurance quotes in Des Moines to help you find cheap renters insurance. The best renters insurance rankings were determined using data from J.D. Power, AM Best and our affordability metrics that we derive from a comprehensive analysis of quotes provided by Quadrant.