Iowa Renters Insurance: Get the Best Quotes Now!
The cost of living in Iowa is lower than average, and the pounding city traffic isn’t an issue here. It’s all laid-back, solid family living, without the painful back and forth commutes (even in Des Moines!) that you’ll find in other cities.
Do I have to have Renters Insurance in Iowa?
Not every state mandates renters insurance, but your landlord is free to require it if he or she would like. We find most landlords prefer that you have it, and may even write it into your lease. Most property companies or landlords ask you to have something in the neighborhood of $100,000 minimum total protection, though we recommend more than that to be on the safe side. The cost of your premium is generally lower than most other types of insurance, so you’ll find the cost to be worth it when it comes to keeping you protected.
The cost of the average one-bedroom apartment in Iowa is $698, and the average annual cost of renters insurance is about $124. Though rents generally rise across the country year by year, Iowa continues to have lower rents than most average places in the country, even in metro areas.
How much will I pay for renters?
Your state renters premiums will be a yearly number that you’ll pay toward monthly. Most renters insurance comes out right at around $200-300 a month based on a variety of factors, which we’ll explore more in-depth below.
Coverage should be similar regardless of where you are in Iowa. We recommend taking out $20,000 for personal property, which will cover all your belongings and allow you to replace anything that is damaged in a loss. We ask our customers to itemize their belongings and provide a valuation for each so we can come up with a net amount of coverage that will work for you.
We also recommend $100,000 in medical liability insurance. If this seems high, it’s because medical expenses in the US are incredibly expensive. If someone is injured or has an accident in your home, there’s always the possibility you may be found liable. If this is the case, you may have to pay thousands of dollars out of pocket – even hundreds of thousands – without the right liability coverage. Note that some carriers won’t cover you or will limit coverage if you own certain breeds of dogs, so it’s always best to check with us and let us know what pets you have in the home as part of our initial discussions.
We also recommend $1000 for Loss of Use coverage. If you lose access or use of part of your home and aren’t able to cook meals, shower, do laundry, etc., you could face some expenses over and above your normal cost of living. Loss of Use coverage can help with those expenses by reimbursing you when you aren’t able to use certain parts of your home or the entire property.
Here are some top cities we quote for in Iowa:
- Des Moines
- Cedar Rapids
- Davenport
- Sioux City
What is covered in Iowa?
Damaging thunderstorms, harsh winters, and tornadoes are some of the biggest threats to property in Iowa. The state is actually in tornado alley, meaning the possibility of an outbreak is higher than other states in the US. Due to this, you may find some higher premiums in Iowa and some other proximity states.
One factor to consider in your calculations of the premium is RCV (Replacement Cash Value) vs ACV (Actual Cash Value). The cost of replacing your items is not always similar to the actual cost of the item. Once you use an item for any period of time, the value depreciates. It’s important to work with your agent to discover which calculation will benefit you the most (typically RCV). Once you pay your deduction, you can work with RCV to be pad out based on the amount of money it would require to get a similar item or the same one.
How much coverage should I get?
It’s always important to discuss coverage limits with your agent. You’ll find these vary from state to state. Your agent will calculate how much renters insurance coverage you need and whether the standard coverage will protect you by itemizing your property. You’ll need to go room by room in your house and think of all the items you may need to replace if there’s a major loss. It’s important to be thorough here – your agent will work with you, but you don’t want to rely on the standard coverage if you have many valuable items to replace.
What discounts are offered?
There are a variety of discounts available, and some of the best discounts happen when you bundle. If you’re looking to carry life, home or other types of insurance, you may receive a deeper discount from your carrier.
Another valuable discount to consider is the PIF (Paid in Full) discount. You’ll receive a percentage off your premium if you’re able to pay the entire year upfront. Extra security measures are also a boon when it comes to saving. Doorbell cams, area security cameras, and other security features in or around your home can help decrease premiums, so it’s always good to have an open discussion with your landlord about property improvements.
The Advance Quote payment is another way to save. Paying a day in advance of when the policy period begins allows you to get a discount and save a little more.
Get Iowa renters insurance quotes online
We love getting our customers the best rates out there and helping to make sure you’re protected in your rental. Let us help you with the right protection at the right premium!
We work with you to get you a variety of quotes at once, and then we work with you to determine which offer is the best. We also help set up your coverage and help determine which carrier will be best for you for the long haul. We’d love to chat with you and get you taken care of ASAP!