Average Cost of Homeowners Insurance in Iowa (2024)

The average cost of homeowners insurance in Iowa in 2023 is $1,828. This figure falls $595 below the national average of $2,423. Aside from the amount of coverage you get, credit rating has the most influence on premium costs in Iowa, with the difference between the lowest and highest premium amounts reaching $7,409 on average.

If your rates have recently increased, we've also analyzed the cheapest policies in the state. Different insurance providers can impact premiums, presenting an opportunity to save.

In Iowa, the average annual premium for homeowners insurance for policies with $250K in dwelling coverage, $125K in personal property coverage and $200K in liability coverage is $1,828, less than the national average of $2,423. When considering how much coverage you need, it's important to have enough to rebuild your home and cover personal property after a loss. For example, a policy with $100K in dwelling coverage averages $1,080 annually, while a $500K dwelling coverage jumps to an average premium of $2,918.

Premiums for homeowners insurance in Iowa can vary among providers for comparable coverage. For example, Allstate may have a policy that is twice more expensive per year than a similar one from Auto-Owners Insurance.

For those exploring options, there are plenty of great providers in Iowa. Differences in underwriting can lead to a broad range of prices, highlighting the importance of shopping around.

Homeowners with excellent credit pay an average annual premium of $1,434 for homeowners insurance in Iowa, while those with poor credit face a staggering average cost of $8,843. This demonstrates that credit scores have a profound impact on insurance rates, with homeowners possessing poor credit paying $7,015 more than the state average of $1,828.

While you may not be able to improve your credit score immediately, you can improve it over time to lower your rates. In the short term, you can compare the cheapest insurers in Iowa to see which will save you the most.

The type of roof on your home influences your homeowners insurance premium in Iowa. Materials that are more durable, like tile, can reduce the cost due to their longevity and resistance to damage. On average, homes with tile roofing may see lower insurance costs compared with those with less durable materials such as shake-treated roofs.

Similarly, the construction type of your home affects insurance rates. Materials that offer greater resistance to common perils, like fire, can lead to lower premiums. For instance, homes built with superior construction materials may enjoy more favorable insurance rates than homes with standard frame construction.

Use the drop-downs in the table below to see how premiums change based on your home's materials.

Insuring a new construction home in Iowa averages $903 annually, significantly lower than the $1,823 for existing homes. Modern materials and adherence to current building codes contribute to this reduced rate. The table below displays the premium differences for varying coverage levels in new versus existing homes.

In Iowa, homeowners who have not filed any claims in the past five years can expect an average annual premium of $1,828 for their insurance. However, if a homeowner has filed one claim within the last five years, the average premium rises to $2,192 — an increase of $364 from the claim-free baseline. Those with two claims within the same period face an average annual premium of $2,445 — $617 more than homeowners with no claims. These figures underscore the financial impact that claims history can have on insurance costs.

For the cities we analyzed, we found annual premiums ranging from $1,692 to $1,914. In Cedar Rapids, homeowners pay an average of $1,781 annually. Davenport residents typically see lower rates, averaging $1,692 per year. Meanwhile, Des Moines premiums average at $1,914.

Location impacts insurance costs due to factors like local crime rates, weather patterns and the cost of rebuilding. Compared with other factors, location can significantly influence premiums, although personal credit and coverage amounts are also major contributors.

Getting a good homeowners insurance deal in Iowa is within reach. By being informed and understanding the landscape of insurance options, you can confidently find a policy that fits your needs and budget. Remember, the key to success is knowledge and preparation. Here's how to find the best deal for you.

In Iowa, homeowners looking to maximize their savings might consider bundling their home insurance with auto insurance. By opting for a multipolicy bundle, Iowans can save an average of 15% on the combined cost of their policies. Specifically, the savings range from $204 to $682 annually. Our comprehensive bundle analysis provides a detailed look at the best home and auto bundle companies in Iowa.

Iowa residents can take advantage of various homeowners insurance discounts to lower their premiums.

• Impact-resistant roof: Installing a roof that can withstand severe weather.
• Home security systems: Adding burglar alarms and other security features.
• Fire safety measures: Equipping your home with smoke detectors and fire extinguishers.

Ask the provider for further ways to save on homeowners insurance. To maximize your savings, inquire about all available discounts when requesting a quote.

When it comes to navigating homeowners insurance in Iowa, a wealth of resources is at your disposal. Whether you're looking for official regulations, cost-effective options, or tools to estimate insurance costs, the following list provides a streamlined guide to the information you need.

• Iowa Insurance Division: Official state resource for insurance regulations.
• Affordable Home Insurance in Iowa: Find cost-effective options for your home.
• Iowa Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in Iowa: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.