State Farm, Nationwide and Farm Bureau offer Iowa's best cheap renters insurance. State Farm ranks top for low rates, Nationwide has the best customer reputation, and Farm Bureau provides the best coverage options.
Cheap Renters Insurance in Iowa
Updated: April 24, 2025
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Key Takeaways
State Farm is Iowa's best overall renters insurance company, offering the cheapest policy at $164 annually.
Renters insurance in Iowa costs an average of $14 per month.
To get the best and most affordable renters insurance, decide your coverage needs beforehand, research costs and compare multiple quotes.
Iowa Renters Insurance Quote Estimates
MoneyGeek's renters insurance calculator will give you a customized estimate of your renters insurance costs.
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Rates updated:
Apr 24, 2025
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Best Cheap Renters Insurance Companies in Iowa
| State Farm | 92 | $14 | $164 |
| Nationwide | 90 | $16 | $194 |
| Farm Bureau | 85 | $24 | $292 |
| Allstate | 82 | $23 | $272 |
| Shelter | 81 | $14 | $173 |
*This list shows rates for a renter with good credit, no claims history, $50K in property damage coverage, $100K in liability coverage, a $1,000 deductible and guaranteed replacement.
Compare Personalized Best Cheap Renters Insurance in Iowa
While the above list covers most renters, it may not reflect the best options for your needs. Below is a filterable table tailored to your profile to help you find the best choice in Iowa.
Data filtered by:Results filtered by:
Select
Coverage Level:$50K Personal Property / $100K Liability
Select
Deductible:1000
Select
Claims History:Claim free for 5+ years
Select
Contents Replacement:Yes
Select
Credit Tier:Good
| Auto-Owners | 87 | $10 | $116 |
| State Farm | 87 | $10 | $124 |
| Nationwide | 87 | $10 | $125 |
| Shelter | 81 | $9 | $108 |
| Farm Bureau | 78 | $13 | $153 |
Best Iowa Renters Insurance Reviews
Below, we provide more details about our top picks for affordability, customer service and coverage options for Iowa renters' insurance.
State Farm: Most Affordable Plans
pros
Lowest rates
Large discount offering selection
High financial stability ratings
cons
Below-average claims satisfaction
COMPANY HIGHLIGHTS
State Farm offers the most affordable renters insurance in Iowa, with rates starting at $14 per month. J.D. Power ranks State Farm seventh for customer satisfaction. The company's unique coverage options include student coverage for those living in dorms.
Nationwide: Best for Customer Service
pros
Affordable rates for higher coverage
Most extensive add-on coverage selection
High claims satisfaction ratings
cons
Less affordable for lower property damage coverage levels
COMPANY HIGHLIGHTS
Nationwide ranks second for best renters insurance in Iowa, with balanced affordability, coverage and customer service ratings. J.D. Power places Nationwide eighth for customer satisfaction and fifth out of 18 for claims satisfaction. The company's unique coverage options include credit card protection and add-ons to replace selected personal property up to its actual cash value.
Farm Bureau: Best for Coverage Options
pros
Local, personalized coverage and service
Membership perks
Strong financial stability
cons
Limited digital availability
Slower claims process
COMPANY HIGHLIGHTS
Farm Bureau offers Iowa's most expensive renters insurance but provides unique coverage options. These include business pursuits coverage that protects home-based entrepreneurs from liability for business activities in their rental. Customers can also get debris removal services and identity theft protection.
Average Cost of Renters Insurance in Iowa
The average cost of renters insurance in Iowa is $162 per year, $80 lower than the national average of $242. These rates are based on a policy with $50K in personal property coverage, $100K in liability coverage and a $1,000 deductible.
Your rate may vary depending on your profile. The table below provides average rates for your situation based on major factors affecting insurance costs.
Data filtered by:Results filtered by:
Select
Coverage Level:$50K Personal Property / $100K Liability
Select
Deductible:1000
Select
Claims History:Claim free for 5+ years
Select
Credit Tier:Good
Select
Contents Replacement:Covered
| $50K Personal Property / $100K Liability | $14 | $162 |
Average Iowa Renters Insurance Cost by City
Renters insurance costs vary by city. The average annual premium in Davenport is $145; in Des Moines, it's $154 for a policy with $50K in personal property coverage and $100K in liability coverage. Check the table below for the average cost in your city.
| Cedar Rapids | $146 |
| Davenport | $145 |
| Des Moines | $154 |
*This table shows rates for a renter with good credit and no claims history. Policies include $50K property damage coverage, $100K liability coverage, a $1,000 deductible and guaranteed replacement.
Iowa Renters Insurance: Buyer's Guide
Finding the right renters insurance in Iowa can be tricky with many options. To simplify your search, this guide can help you choose the ideal coverage for your needs.
How to Find the Best Cheap Renters Insurance in Iowa
Use this guide to find ideal coverage at the best price:
- 1
Determine the right coverage level
Find out how much renters insurance coverage you need. Consider valuable items, weather risks and other factors like pets.
- 2
Research costs and discounts
Check average costs for your situation and look for discounts to lower your rates.
- 3
Compare providers
Research companies' reputations, costs and coverage options to decide which ones to get quotes from.
- 4
Consider bundling
Bundling renters insurance with auto insurance often creates savings that cover the full cost of renters coverage.
- 5
Get multiple quotes through different channels
Gather quotes from at least five providers. Use comparison sites, provider websites, brokers and phone agents.
- 6
Compare rates annually
Insurance prices change, so compare options yearly to ensure you pay a good rate and get all eligible discounts.
How Much Renters Insurance Do I Need in Iowa?
Renters insurance isn't required by Iowa law, but most landlords require at least $100K in liability coverage. Requirements may vary based on your rental history, credit score and pet ownership. Consider how much property coverage you need, local weather risks, area crime rates and pet ownership when selecting a policy.
Use our calculator to determine your ideal personal property coverage limits and how much renters insurance you need.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Iowa Renter Risk Considerations
Below are the risks specific to Iowa and considerations for renters seeking additional coverage:
- Weather risks: Flooding is Iowa's most common natural disaster. The state also faces a high risk of tornado and snowstorm damage in certain locations. Standard coverage may not protect against these threats in high-risk areas, requiring a separate purchase of additional coverage.
- Crime risks: Iowa ranks 43rd nationwide for property crime and 44th for identity theft and fraud. For better property damage protection, consider adding supplemental coverage or add-ons to your renters policy.
- Pet ownership: Depending on your pet, consider pet liability coverage. Check how different providers handle pet coverage and whether it's included in standard policies.
- Property types: Standard policies may not fully cover special tools, valuables, electronics or structures like pools on your rental property. Look for companies offering specific add-ons for additional protection.
How Does Renters Insurance Coverage Work?
Renters insurance typically covers damage to your property, liability to others and loss of use of your rental home. Adding optional coverages can make your policy more comprehensive. Here are the main types of renters insurance coverage:
Coverage Type | Standard or Add-on | Coverage Details |
|---|---|---|
Standard | Pays for damaged or stolen personal items up to your policy limit. Basic coverage reimburses the depreciated value, while replacement cost coverage pays for new equivalent items. | |
Standard | Covers medical and legal costs if someone gets hurt in your rental. Many landlords require this protection. | |
Additional living expenses | Standard | Helps pay for temporary housing, meals and transportation when your rental becomes uninhabitable. Limits vary by insurer. |
Natural disasters | Add-on | Provides coverage for earthquake or flood damage. Available through select insurers as separate policies. |
Parts/Equipment | Add-on | Covers tools, appliances and utilities in your rental |
Scheduled property | Add-on | Insures valuable items up to specific limits |
Identity theft | Add-on | Covers financial losses and legal expenses from identity theft. Some policies include monitoring services. |
Pet liability | Add-on | Protects against injuries caused by your pet, though standard policies may include this |
Modifications | Add-on | Covers custom additions you've made to your rental |
Food loss | Add-on | Reimburses food lost during covered incidents |
Best Renters Insurance in Iowa: Bottom Line
Iowa's best and most affordable renters insurance companies are State Farm, Nationwide and Farm Bureau. State Farm has the lowest average monthly cost, $14. While we recommend these options, research and compare multiple companies and quotes to get the best deal.
Renters Insurance in Iowa: FAQ
Below are our experts' answers to frequently asked questions:
What is the cheapest renters insurance company in Iowa?
State Farm offers the cheapest renters insurance in Iowa, with an average annual premium of $164 or $14 per month.
What is the best renters insurance company in Iowa?
State Farm is the best renters insurance company in Iowa, earning a MoneyGeek score of 92 out of 100 for its strong mix of affordability, customer satisfaction and coverage options.
How much does renters insurance cost in Iowa?
The average cost of renters insurance in Iowa is $162 per year or $14 per month, 33% lower than the national average. Annual premiums range from $164 to $292.
Is renters insurance required in Iowa?
Iowa doesn't legally require renters insurance, but your landlord may. Consider your situation to decide if a policy makes sense for you. Key reasons to get coverage include protecting your belongings from common hazards and covering liability costs if someone gets hurt in your rental.
How We Found the Best Cheap Renters Insurance Companies
To find the cheapest renters insurance in Idaho, we used this base profile:
- $50K personal property coverage
- $100K liability coverage
- $1,000 deductible
- Property replacement coverage
- Good credit score
This profile determined our affordability score (60% of the total score). The remaining factors included:
- Customer satisfaction from industry research (25%)
- Add-on coverages (10%)
- Financial strength ratings (5%)
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- Insurance Information Institute. "Facts + Statistics: Identity Theft and Cybercrime." Accessed April 24, 2025.
- Ready Iowa. "Disasters and Emergencies." Accessed April 24, 2025.
- U.S. News. "Low Property Crime Rate." Accessed April 24, 2025.