Best Renters Insurance in Iowa

Renters insurance is an essential safety net that can financially catch you before spending thousands of dollars out of pocket to replace or repair what you lost after unexpected damage. Renters in Iowa must worry about hail, tornadoes, and severe winter weather seasonally.

The right renters insurance policy can protect renters and their families in several ways at a very affordable price. For help finding that perfect plan, use this detailed guide we created on the best renters insurance in Iowa.

The average cost of renters insurance in Iowa is $180 per year or $15 per month, with rates from select carriers ranging from $10 to $22 monthly. Your exact premiums will vary depending on a few factors.

It’s difficult to encapsulate the average Iowa renters insurance cost in one number since rates vary throughout the state based on location, policy details, and more. The provider you choose also influences rates, as not every company charges the same price.

We analyzed rates from a few of the top renters insurance companies in Iowa to measure affordability. Take a look below.

According to our findings, Nationwide offers some of the cheapest renters insurance in Iowa. State Farm and Allstate were just a little behind, only costing $2 to $3 more per month. You may experience a different rate when quoting due to factors about yourself and your rental property.

The difference of a few dollars a month may not seem like much, but it adds up over time. Annual rates from the four companies we examined ranged by up to $146. You can see from this small sample size how shopping around for coverage and comparing quotes can save you money.

Renters don’t own the homes they occupy, so they’re not responsible for insuring the home’s structure. The homeowner does that with their insurance policy. As a result, renters insurance rates are a relative bargain no matter what provider you choose, considering the array of coverages it provides.

Renters insurance in Iowa covers personal property, liability, and possible additional living expenses if you’re forced to move out of your home. Every renters policy typically contains some form of these coverages. Take a look at a more detailed explanation of protections below:

To get the best renters insurance in Iowa, you should assess your coverage needs based on the value of your belongings and assets. Modify your policy if needed to suit your living situation best, which may involve adding optional coverage if it fits your budget. 

With these aspects in mind, compare quotes from a few providers to see who has the coverage you need at the price you want.

You must determine how much of each coverage type you need, as your policy limits are up to you. Create a home inventory to get the right amount of personal property protection and not overpay for unnecessary coverage. 

In a home inventory, you’ll list every item you own along with its price. Take pictures of big-ticket items to document their conditions. This list will give you an exact number of how much everything in your rental costs, which is the amount of personal property coverage you should get to be fully protected.

You also choose your liability limits when getting a plan. Insurers usually require you to carry at least $100,000 of liability coverage, but they often recommend $300,000 to $500,000. They do this because medical bills and legal fees rack up very quickly after an injury. Unfortunately, one hospital bill for a procedure and a short stay can cost tens of thousands. You don’t want to be caught short on liability coverage.

Choose liability limits roughly equal to your assets. For instance, if you have hundreds of thousands in assets but only choose $100,000 of liability coverage, you’re leaving yourself exposed if you’re on the hook to cover someone’s major injury or property damage.

The best renters insurance in Iowa may also have optional coverages not included by default if you decide you need them. Many carriers offer endorsements for water backup or identity theft. If you own some particularly valuable items, you may be interested in scheduled personal property coverage, which bypasses the sub-limits in your coverage for valuables like art and jewelry. Scheduling high-cost items insures them fully.

Note your experience when quoting. You might want to look elsewhere if you encounter poor customer service or a confusing website. The best renters insurance in Iowa will help you when needed, not cause more headaches. 

Renters insurance in Iowa costs roughly $15 per month. But, as we mentioned, many variables determine your rate. Insurance companies look at as many factors as possible that can help estimate your likelihood of loss. You’ll experience higher premiums if you represent a greater loss risk.

Some of the most important factors insurers consider to determine the cost of renters insurance in Iowa are:

Location: Some places in the state are more prone to damage than others. Living in a high-crime or tornado-prone area may have higher premiums.

Claims History: Renters who have filed several insurance claims in the past three to five years will have higher rates than someone who has never filed. Insurers are wary of someone who has a history of filing claims.

Deductible: Your deductible is the amount property damage must exceed before you can file a claim. You choose your deductible when you get a policy, and opting for a higher deductible can lower your premiums.

Discounts: You may be eligible for certain discounts that lower your rate. Some examples of common discounts relate to bundling, military status, and home safety features.

No, renters insurance isn’t required by law in Iowa. However, it’s becoming more common for landlords to require their tenants to have renters insurance as part of lease agreements.

Landlords or property managers can ask their tenants to get renters insurance as a stipulation in leases. This further limits the liability of the rental property owner and other residents in a condo or apartment complex. 

To guarantee that you keep your renters insurance for your whole lease, some landlords may ask to be named as an additional interest on your policy. This doesn’t grant them any coverage under your plan, but your provider will notify them if you cancel your policy.

If you’re looking for renters insurance quotes in Iowa, be sure to compare quotes from multiple carriers. It’s the only way to know you’re getting the best deal. Use Clovered to make your renters insurance search easy.

At Clovered, we partner with some of Iowa’s top renters insurance companies. Our proprietary engine compares policies to help you find a quote in your area. You can compare multiple carriers easily in minutes.

If you’d rather speak to a licensed agent for help with your renters insurance quote in Iowa, you can also call our team at  833-255-4117 during business hours. Feel free to contact us by email, too, at [email protected].