Iowa is a state with many options for home insurance. Homeowners in the area looking for coverage should first check out USAA for their excellent customer service, or Nationwide for their low average prices in the state.
We also profiled Allstate, Farmers, and American Family in this review. To find the top carriers in the Hawkeye State, we searched out each insurer’s market share, coverage policies, professional industry ratings, and what discounts are available to Iowa homeowners.
The 5 Best Homeowners Insurance Companies in Iowa
|Our review||Our review||Our review||Our review||Our review|
|AM Best Financial Strength Rating||A+||A||A||A||A++|
|J.D. Power Overall Customer Satisfaction Score (Relevant region)||2/5||3/5||3/5||3/5||5/5|
|Online Quote Tool||✓||✓||✓||✓||✓|
|Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Iowa
The average cost of a home insurance premium in Iowa is $946, according to data sourced from the National Association of Insurance Commissioners (NAIC).
Given the national average is $1,211 for a home insurance policy, Iowa homeowners are in luck and can expect to pay less than in most states.
However, there are many individualized factors that affect the price of a home insurance premium.
Iowa homeowners should expect things like the home’s size, age, and location to impact the price of the premium. The discounts a homeowner qualifies for will also play a role in the final cost of the premium.
Home Insurance add-ons that will further protect you-
Tornadoes roll through Iowa every year, and they cause millions of dollars worth of damage throughout the state.
In fact, Iowa was second in the nation for the most tornadoes in 2018, according to data sourced from the U.S. Department of Commerce.
Many home insurance policies do cover perils like wind and hail damage, but they are not guaranteed, so it’s important to check into the details of the insurance coverage and whether additional coverages need to be purchased to account for damage from tornadoes.
Helpful Resources for Iowa Homeowners
Allstate has an insightful page on how home insurance policies deal with tornadoes, and whether homeowners will need additional coverage.
Iowa homeowners looking for general homeowners information should check out Iowa Insurance Divison’s page on home insurance. The Iowa Insurance Division features links to resources that will help homeowners get up-to-speed on the state’s regulations.
Iowans interested in FAIR homeowners insurance can find out more at the Iowa FAIR Plan Association. The association is essentially a one-stop shop for FAIR home insurance in Iowa.
The Iowa Data Center contains a plethora of state data, including household characteristics and information on land area and urbanization.
The Insurance Information Institute maintains a page on homeowners and renters insurance that features state-specific information and nationwide trends that could benefit Iowa homeowners.
Our search for the best homeowners insurance companies in Iowa began by studying the companies with the largest market share in the state.
After we determined Iowa’s most successful home insurers, we looked into the companies’ ratings from professional industry organizations to see how each insurer stacked up.
Next we dug into the details to find the discounts and coverages that each company offers Iowa homeowners, with a focus on how much of a benefit the discounts and details will truly provide to homeowners in the state.
Best Iowa Homeowners Insurance Companies
- Many coverage options
- Low prices in Iowa
- Below-average customer satisfaction
Nationwide offers reliable home insurance coverage at a low rate in Iowa. The company excels in offering homeowners many options for additional coverages and discounts.
This insurer’s standard home insurance policy covers all the basics like dwelling and personal liability. But the standard policy also includes “Brand New Belongings” that covers the full cost of damaged or stolen items, and “Better Roof Replacement” that uses stronger materials when replacing the roof.
Nationwide only earned a 2 out of 5 from J.D. Power in overall customer satisfaction, and AM Best awarded the company an A+ rating in financial strength.
- Superior financial strength
- Below-average rates in Iowa
- Average customer satisfaction
Allstate is well-known as a trusted source for home and auto insurance. This insurer offers coverage at a good rate in Iowa, with plenty of options for customization.
The home insurance policies Allstate offers their customers include valuable features like “Claim Rateguard”, which helps to keep the policy rate from increasing after filing a claim, as well as discounts for claims-free homeowners.
Allstate scored a 3 out of 5 for overall customer satisfaction in J.D. Power’s 2019 U.S. Home Insurance Study, and Allstate received an A+ financial strength rating from AM Best.
- Declining deductible option
- Three tiers of plans
- Annual premiums can increase
- Average customer satisfaction
Serving customers for over 90 years, Farmers is a mainstay in the insurance industry. The company offers three different tiers of coverage—standard, enhanced, and premier.
For loyal customers, Farmers offers a “Declining Deductibles” feature that earns homeowners $50 off the deductible every continuous year of coverage. But the company also raises premiums to keep up with inflation.
J.D. Power awarded Farmers a 3 out of 5 for overall customer satisfaction, and the company earned an A financial strength rating from AM Best.
- Round-the-clock customer service
- Helpful mobile app
- High rates in Iowa
- Average customer satisfaction
American Family, or AmFam, is a trusted choice for home insurance that includes many coverages for natural disasters. The standard policy comes with insurance for incidents like fire, hail, theft, ice weight, water damage, and windstorms/tornadoes.
This insurer offers their own insurance for flooding, as well. Optional coverages include sump pump failure, metal siding, and extra coverage for personal property. And AmFam offers a 24/7 helpline to their customers.
J.D. Power gave American Family a 3 out of 5 in overall customer satisfaction, and the company was awarded an A financial strength rating from AM Best.
- Perfect customer satisfaction
- Top financial strength
- Limited availability
- High rates in Iowa
We should start off by saying that USAA is only available to active or former members of the U.S. Military and their families, so some readers will not qualify for home insurance from USAA.
However, other than limited availability, this insurer is an excellent option. The basic plan covers fire, liability, identity theft, property theft, vandalism, and most weather-related events.
USAA sits atop J.D. Power’s list of insurers with a perfect 5 out of 5 in overall customer satisfaction, and AM Best gave USAA an industry-leading rating of A++ in financial strength.
The Cheapest Homeowner Insurance Companies In Iowa
|Homeowner Insurance Companies||Average Annual Premium|
|West Bend Mutual Insurance Company||$ 554|
|Pekin Insurance Company||$ 631|
|Allied Insurance||$ 800|
|IMT Insurance Company||$ 848|
|Auto-Owners Insurance||$ 871|
|Employers Mutual Casualty Company||$ 883|
|Hastings Mutual Insurance Company||$ 993|
|Farmers Insurance||$ 1,138|
|Celina Mutual Insurance Company||$ 1,144|
|Garrison Property & Casualty Insurance Company||$ 1,220|
|American Family Insurance||$ 1,322|
|Farm Bureau Property & Casualty Insurance Company||$ 1,422|
|Iowa Mutual Insurance Company||$ 1,455|
|State Farm||$ 1,623|
|Average Across Credit Rating Tiers||$ 1,047.94|
Homeowner Insurance by Age of Home
|Homeowner Insurance by Age of Home||Average Annual Premium|
|Average Across Credit Rating Tiers||$ 1,422|
Quadrant home insurance rate data as of 12/01/2019.
These rates are a sample set meant only for general comparison. Your own premium will vary. Learn how we tested rates for the cheapest home insurance companies in our methodology.
Top 3 Cheapest Homeowner Insurance Companies in Iowa
- West Bend Mutual – $544
- Perkins – $631
- Nationwide – $661
Top 3 Most Expensive Homeowner Insurance Companies in Iowa
- State Farm – $1,623
- Iowa Mutual – $1,455
- Farm Bureau – $1,422
According to the data we gathered from Quadrant, the three cheapest home insurance companies in Iowa are West Bend Mutual, Perkins, and Nationwide—and the three most expensive are State Farm, Iowa Mutual, and Farm Bureau.
Please keep in mind that the rates we received are based on general profiles and do not necessarily reflect the actual premium a homeowner will receive when signing up for a policy.
The surefire way to get the best rate on home insurance is to talk with different insurers in the area to see what their individualized quote will be, and then choose the best option.
Homeowners Insurance FAQ
Is homeowners insurance required in Iowa?
Iowa does not require people to have homeowners insurance, but most mortgage lenders will require homeowners insurance for the homeowner to receive a mortgage.
What is the cheapest homeowners insurance in Iowa?
The cheapest homeowners insurance company in Iowa is West Bend Mutual, according to the data we receive from Quadrant.
What is the cheapest homeowners insurance providers in Iowa?
According to our research, the three cheapest home insurance providers in Iowa are West Bend Mutual, Perkins, and Nationwide.