Homeowners in Iowa pay an average of $2,263 per year for a home insurance policy with $300,000 in dwelling coverage and a $1,000 deductible, which is slightly below the national average of $2,529 for the same coverage. 

But some insurers serving the Hawkeye State offer significantly lower premiums. In a state that’s susceptible to tornadoes, locking in the right homeowners insurance coverage is especially critical. 

Here’s what you should know about comparing home insurance quotes and finding coverage as an Iowa homeowner.

Best home insurance companies in Iowa

Many home insurance companies provide Iowa homeowners with high-quality insurance. As you start your search, it’s helpful to find out which insurers offer the best rates and service. 

Explore a few of the best home insurance companies in Iowa below.

Cheapest rates: Westfield

Best insurer for young families: American Family

Best insurer for cash back award: West Bend Insurance

Best insurer for environmentally conscious homeowners: Farmers

Cheapest home insurance in Iowa

Farmers offers Iowa residents the cheapest home insurance, on average.  

The table below shows the cheapest companies that offer home insurance coverage in Iowa.

Cost of homeowners insurance in Iowa

The exact cost of your home insurance policy will vary based on the details of your unique situation. 

Some factors that influence your cost are out of your control, like the flooding risks for the area, the location of the nearest fire department, the ZIP code, and the age of your home.2 But other factors, like how much liability coverage you purchase and what deductible you choose, can affect the cost significantly. 

Cost of homeowners insurance by dwelling coverage amount

The dwelling coverage amount of your policy indicates how much the insurer would pay to rebuild your home after a covered loss. Generally, a higher coverage level leads to higher insurance premiums. 

The table below highlights the average monthly premium by coverage limit in Iowa. Rates are for a policy with a $1,000 deductible.

Cost of homeowners insurance by deductible

If you have to file a claim against your insurance policy, the home insurance deductible represents the amount you have to pay toward the loss. For example, if you file an insurance claim for $10,000 of damage and you have a $1,000 deductible, you’ll pay $1,000, and the insurance company will pay the remaining $9,000. 

In general, a higher deductible results in a lower home insurance premium. But make sure to pick a deductible you can afford in case you need to file a claim. 

The table below breaks down the average cost of home insurance in Iowa by deductible amount for a policy with $300,000 in dwelling coverage.

How to get cheap homeowners insurance in Iowa

Most homeowners can’t avoid the cost of home insurance. But that doesn’t mean you have to overpay. Use the strategies below to lock in cheap homeowners insurance:3

• Increase your deductible. When you raise your deductible, insurers tend to reward you with lower premiums. Of course, the catch is that if you have to file a claim, you’ll have to kick in more. Before boosting your deductible, confirm you have the money on hand to cover the cost if you run into an emergency. 

• Bundle your insurance policies. If you’re buying homeowners insurance, it’s likely that you have other insurance products. Choosing to bundle your insurance policies with the same insurance company often leads to savings. 

• Prepare your home for disasters. You can take action to protect your home against potential disasters. For example, you could install storm windows or reinforce your roof against strong winds. Many insurers offer lower rates to more prepared homes. 

• Shop around. Every insurer determines insurance rates with a slightly different method. With that variation, shopping around can help you find the cheapest rates for your unique situation.

How much homeowners insurance do you need in Iowa?

If you have a mortgage, the lender will probably require you to purchase a home insurance policy. But even if you aren’t required to carry coverage, the right homeowners insurance policy will protect your residence. 

In general, you’ll want enough coverage to replace your home and the personal property in it after a complete loss. But the amount of coverage required to accomplish this goal will vary based on your situation. For example, a standard homeowners policy often covers your personal belongings for between 50% and 70% of the dwelling coverage. Homeowners with several expensive items might need more coverage. 

Additionally, you’ll need to determine how much liability coverage you want. Liability coverage kicks in to pay for medical expenses of guests and legal costs after an accident on your property. While a standard policy often comes with $100,000 of liability coverage, homeowners who have a large number of assets might prefer more coverage. 

Getting clear on the details of your home insurance policy before you buy it is key. A close look at the policy can confirm that you have the coverage that suits your home insurance needs.

What are some of the biggest risks when owning a home in Iowa? 

Although you might not think of Iowa as a state that’s prone to natural disasters, Iowa homeowners face significant risks, including: