Best Homeowners Insurance Companies in Iowa
Iowa's homeowners insurance rates tend to stay low compared to other parts of the country. A smaller population and cheaper housing costs are a couple of reasons for this. While the cost of home insurance is an important factor when you're comparing quotes, how much coverage and customer service you get for the price is equally important, if not more so. This guide is designed to help you find the best home insurance coverage for you.
We compared the average home insurance rates of providers in Iowa, including their policy options and customer satisfaction rankings. We found these to be the best home insurers currently underwriting in Iowa:
- IMT: best rates
- Auto-Owners: cheap rate and great customer satisfaction
- State Farm: most policyholders
- Travelers: best coverage options
IMT: cheapest home insurance rates
IMT has an average annual home insurance rate of $647, $361 less than the average rate in Iowa of $1,008.
IMT has more than 1,000 independent agencies in six states, including Iowa, making it easy to find a local agency if you want a personal touch. IMT also offers a variety of discounts to possibly lower your rates even further:
- If you bundle your home and auto insurance together, you may save more on both policies.
- There's a discount available if you've been claims-free for a set amount of time.
- If you purchased a newer house or have done some renovation, it may be worth a discount.
The following graph shows how IMT's rates compare in Iowa's largest cities:
Auto-Owners: best combo of price and customer satisfaction
Auto-Owners' average home insurance rate of $834 in Iowa, $174 less than the Iowa annual average of $1,008. On top of a good price, J.D. Power gave Auto-Owners an above-average four-out-of-five rating for overall satisfaction in its 2019 home insurance study. And the NAIC gave Auto-Owners a 0.20 rating on its Complaint Index. The lower an insurance company's index, the few complaints they received. Auto-Owners' average rating is lower than the average index in Iowa of 0.37 and the national average of 1.0.
Auto-Owners provides good standard homeowners insurance, giving it a strong combination of cost, coverage and claim satisfaction. While a bit more expensive than IMT's cheapest rate, we strongly recommend Auto-Owners.
State Farm: most popular
State Farm's average home insurance rate in Iowa is $1,194, $186 more than the state average of $1,008. Despite the higher price, State Farm remains the most popular home insurance provider in Iowa, holding 26% of the home insurance market share in the state.
State Farm's consistent trends of customer satisfaction tend to make it a popular choice in many states. State Farm has a solid four-out-of-five rating in J.D. Power's 2019 home insurance survey, and a 0.20 rating in NAIC's Complaint Index.
Travelers: best home insurance coverage options
Travelers has an average annual home insurance rate of $922, $86 below the average annual homeowners insurance rate of $1,008 in Iowa.
The key strength of Travelers home insurance is that it provides for higher coverage limits. When insuring high-dollar items like jewelry, antiques or other valuable collections, most home insurance providers place coverage limits lower than other items covered under personal property coverage. Travelers offers higher limits on valuables than you'll find in many cases elsewhere. If you need even higher coverage limits than what Travelers’ standard home insurance policy offers, it also sells personal articles writers that provide even higher coverage levels.
Cheapest home insurance companies in Iowa
While the larger, better known home insurers are in the majority in Iowa, two local providers, IMT and West Bend Mutual, both have average rates below the state annual average. IMT comes in with the lowest average rate, of $647 annually. At the other end, Farm Bureau, another local Iowa home insurance provider, has the highest average rate, of $1,329.
Iowa's average annual home insurance rate is $1,008. This is $207 less than the national average rate of $1,215. We found Iowa's average rate by calculating 1,484 quotes from the eight largest homeowners insurance companies operating in the state.
| Iowa | U.S. | |
|---|---|---|
| Average annual rate | $1,008 | $1,215 |
| Average monthly rate | $84 | $101 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | ||
The following table provides an overview of the market shares, customer satisfaction and complaint ratings of the most popular homeowners insurance providers in Iowa:
| Company | Market share | Overall customer satisfaction* (higher is better) | NAIC Complaint Index (lower is better) |
|---|---|---|---|
| State Farm | 26% | 4/5 | 0.20 |
| Farm Bureau | 8% | - | 0.32 |
| Auto-Owners | 4% | 4/5 | 0.20 |
| West Bend Mutual | 4% | - | 0.05 |
| Nationwide | 3% | 2/5 | 0.48 |
| IMT | 3% | - | 0.44 |
| Travelers | 2% | 2/5 | 0.30 |
| Allstate | 1% | 3/5 | 0.29 |
| *According to J.D. Power's 2019 home insurance satisfaction study. | |||
Read our study on the best homeowners insurance companies to see how these companies compare on the national level.
Home insurance rates in Iowa by city
There is a wide range of home insurance rates across Iowa's largest cities. These variances come down to various factors such as local crime rates. Davenport has the lowest average home insurance rate, of $868 annually, while Council Bluffs has the highest, at $1,363.
| City | Average annual rate |
|---|---|
| Ames | $925 |
| Ankeny | $880 |
| Cedar Rapids | $869 |
| Council Bluffs | $1,363 |
| Davenport | $868 |
| Des Moines | $947 |
| Iowa City | $936 |
| Sioux City | $1,055 |
| Waterloo | $958 |
| West Des Moines | $918 |
| Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Methodology
QuoteWizard studied and compared 1,484 quotes from the top eight home insurance companies currently underwriting home insurance in Iowa. As a base profile, we used a home valued at $164,124 and constructed in 1969 as the median.
Sample home insurance coverage limits
- Dwelling coverage: $164,124
- Property coverage (50% of dwelling): $82,062
- Other structures coverage (10% of dwelling): $16,412
- Loss of use coverage (20% of dwelling): $32,825
- Liability coverage: $100,000
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