5 Best Renters Insurance Providers in Iowa (2023)
Renters insurance can help protect you against damage caused to your apartment or rental home by natural disasters, theft and more. We’ve ranked the top top renters insurance providers in Iowa so you can make an informed choice. According to our research, the cheapest renters insurance in Iowa is Allstate, which costs an average of £106 each year.
That’s 20% cheaper than the state average of £133. We’ve hand-selected the top five renters insurance providers in Iowa based on customer service and satisfaction, cost, coverage and more. Compare our top providers to decide which one is best suited for your needs:
Using data from Quadrant Information Services, we obtained multiple quotes for each provider in this article and compared them to the average annual premium in the U.S.
According to this data, the average cost of renters insurance in Iowa is £133 annually. Read our full cost methodology here. *Lemonade and Geico premiums are based on quotes we pulled for a standard policy for a rental property with a single occupant in Des Moines, Iowa.
Your cost may vary depending on your location, coverage and personal property needs.
Top 5 Renters Insurance Providers in Iowa of 2023
We at the Guides Home Team found the following to be Iowa’s best renters insurance providers:
Lemonade
- AM Best rating: NR
Lemonade is our top pick for college students thanks to its quick, all-online enrollment process and flexible pricing. However, Lemonade is a great option for any renter on a budget who wants a customizable experience. Although Lemonade does offer higher-cost plans with more coverage, many renters pay as little as £6 per month for a renters insurance plan through the provider.
Lemonade also incorporates artificial intelligence into its claim-filing process, allowing many claims to process in seconds. Although Lemonade is not rated by AM Best, it has earned an Exceptional Financial Stability Rating(R) of A from Demotech, indicating its reliability as a provider.
Costs and Coverage Options
Based on our sample quote for an apartment with a single occupant in Des Moines, Iowa, Lemonade costs £18.25 per month with default coverage amounts and a £500 deductible. However, the same rental property only costs £6.92 per month to insure with lower coverage selections.
Your price may vary depending on your property, whether you live with other people or pets and personal customizations. Discounts:
- Policy bundling
- Home safety devices
Endorsements:
- Extra coverage for valuables like jewelry, fine art, bikes, cameras or musical instruments
- Significant other living with you, if you’re not married or in a legally-recognized civil union
- Damage caused by water backup
- Landlord’s property damage
Get your quote: Get your custom Lemonade renters insurance quote. To learn more: Lemonade renters insurance review
Geico
- AM Best rating: A++
- J.D.
Power score:
NR
Geico is our pick for easy policy management, especially if you enroll in several types of insurance with Geico. Geico allows you to manage all of your plans from its user-friendly online dashboard and smartphone app. Plus, if you’re looking for additional protection against damage from severe weather like wind and hail that Iowa occasionally experiences, Geico offers a natural disaster endorsement.
However, it’s worth noting that Geico does not underwrite its renters insurance policies, so your experience with the company may vary. We recommend speaking with a Geico insurance agent to weigh your options.
Costs and Coverage Options
Based on our sample quote for an apartment with a single occupant in Des Moines, Iowa, Geico costs £18.25 per month, or £219 annually with standard coverages. You can adjust your coverage levels and request your rate on Geico’s website, but keep in mind that Geico does require a social security number to get a quote.
Discounts:
- Policy bundling
- Home safety devices (smoke alarms, sprinklers and security systems)
Endorsements: Get your quote: Get your quote for renters insurance with Geico. To learn more: Geico insurance review
American Family
- AM Best rating: A
American Family Insurance is our pick for customer service because of its around-the-clock customer service line and claims support.
American Family’s mobile app, like Geico’s, allows you to monitor your plan and get in touch with a local customer service representative and quickly submit claims through its online portal.
Costs and Coverage Options
According to our sample quote for a one bedroom apartment in Des Moines, Iowa, American Family’s Economy plan costs £19 per month. The Traditional and Premier Plans, which cost £25 and £41 per month respectively, have higher coverage limits. The higher plan levels also include coverage for items like fine jewelry and electrical appliances.
Discounts:
- Diminishing deductible
- Policy bundling
- Smart home discount
- Loyalty discount after one year
- Paperless billing and autopay
- Generational discount if you’re 18 to 30 years old with a parent enrolled in an American Family policy
Learn more about American Family’s renters insurance discounts on its website. Endorsements:
- Home-based business protection
- High-value belongings
- Electrical appliances
- Water damage and sump pump failure
Learn more about American Family’s additional coverage options on its website. To learn more: American Family insurance review
Allstate
- AM Best rating: A+
Allstate is a well-known, trusted insurance provider with over 90 years in the insurance industry, and it’s our pick for seniors.
If you are retired and over the age of 55, you can receive up to 25% off the cost of your renters insurance plan, the largest discount offered out of any provider on this list. Allstate also offers policy bundling and automated payment discounts as well.
Costs and Coverage Options
Allstate costs between £13 and £20 per month with default coverage amounts and a £500 deductible, based on our sample quote for a one-bedroom apartment with a single occupant in Des Moines, Iowa. The upgraded Enhanced Plan offers higher coverage caps for personal items and family liability coverage.
You can also customize your coverage caps to adjust your monthly cost accordingly. Discounts:
- Policy bundling
- Retired policyholder
- Automated payment
Endorsements:
- Identity theft protection
- Scheduled personal property coverage for high-value items
To learn more: Allstate insurance review
State Farm
- AM Best rating: A++
State Farm is our pick for affordable premiums, with some of the lowest monthly costs of any of our top providers in Iowa. Plus, you can fully customize your State Farm renters insurance coverage options to adjust your monthly cost.
State Farm also offers additional customizations with the longest list of optional add-on coverage of any provider on our list, including off-premises structures, childcare liability, personal liability and more.
Costs and Coverage Options
According to our sample quote, State Farm costs £7.41 per month for a one-bedroom, single-occupant apartment in Des Moines, Iowa. However, your coverage limits, endorsements and living situation will all impact your unique quote. Discounts:
- Policy bundling
- Home safety devices (burglar alarm, sprinkler system, fire and smoke detectors)
Endorsements:
- Sewer or drain backup
- Earthquake coverage
- Identity theft and fraud
- Waterbed liability
- Nurses’ professional liability
- Personal injury liability
- Business pursuits
- Incidental business
- Additional insured
- Off-premises structures
- Depreciated loss settlement provision
- Rented personal property
- Adult daycare
- Home rental
- Child care liability
- Additional coverage for high-value items, including jewelry, furs, silver and goldware, business personal property and firearms
To learn more: State Farm renters insurance review
Do I Need Renters Insurance in Iowa?
A renters insurance policy can protect you against damage to your personal belongings in the case of an unexpected event like a natural disaster or burglary.
Although it’s not legally required for renters in Iowa, many landlords require it. If you rent, your landlord insures the actual structure of the property you’re renting, which covers damages to the exterior of your apartment complex or home. However, this insurance does not protect anything inside your apartment or home, including your belongings.
That’s why renters insurance is so important for Iowans: it covers the cost of repairs or replacements inside your residence.
What Factors Affect Renters Insurance Rates in Iowa?
Renters insurance costs an average of £11 per month in Iowa, but personal factors like your coverage, location and claim history will influence your personal insurance rates.
- Claim history: If you haven’t filed a claim in the last five years, you’ll score a lower rate on renters insurance.
- Location: The type of residence you live in and the rate of crime where you live can affect your renters insurance rates.
- Coverage: Most providers allow you to customize your plan’s coverage limits. Of course, if you have more high-value items, you’ll want to opt for more coverage. You can also add scheduled personal property coverage for very important items for an extra charge.
What Are the Common Causes of Renters Insurance Claims in Iowa?
Stolen or vandalized items, severe weather and personal liability are the three most common types of renters insurance claims.
Here’s what Iowa residents should look out for when enrolling in renters insurance:
Stolen Items
The rate of property crimes committed, including vandalism, theft and robbery was 1,698 per 100,000 residents in Iowa in 2020. Although this number is relatively low, theft is still a very common type of renters insurance claim in Iowa. The good news is that renters insurance covers much of the cost to replace any items stolen from your home.
Severe Weather
Iowa experiences tornadoes, floods and severe thunderstorms throughout the year, which can put your belongings at risk of damage.
In the case of a covered loss, renters insurance not only helps you pay to replace damaged items, but it also offers “loss of use” coverage. This covers additional living expenses if you need to temporarily stay in a hotel in case your place of residence becomes unlivable due to a covered loss.
Personal Liability
If someone is hurt in your rental apartment or home, you could be legally responsible for covering their medical expenses. In the case that you’re held personally liable for something that happened in your home, renters insurance will help cover medical payments and other related expenses that you owe.
The Bottom Line
Our top picks for renters insurance in Iowa are Lemonade, Geico, American Family, Allstate and State Farm.
However, the right insurer for you will depend on your needs and circumstances. Lemonade is our overall top pick thanks to its low rates and easy online quotes and claims process. However, Geico makes bundling policies simple, especially for existing customers, and Allstate offers a generous senior discount. We recommend getting quotes from at least three providers before making a decision.
Get instant renters insurance quotes by entering your ZIP code in the form below, and see which provider is right for you:
Methodology: Our System for Ranking the Best Renters Insurance Companies
Through in-depth research of the industry, we determined the following factors and weights to rate each company by:
- Overall cost: 15/100
- Add-ons and discount options: 20/100
- Standard coverage: 17.5/100
- State availability: 5/100
- Support availability: 20/100
- Connectivity: 12.5/100
- Authority: 10/100
We used these rating factors to determine the best renters insurance companies to help with your decision when looking at policies. We routinely monitor and update data on a regular basis to ensure the reviews reflect the most up-to-date information and advice.
How We Gather Cost Data
We at the Guides Home Team gathered renters insurance quotes for the providers in this article using data from Quadrant Information Services. Quadrant is a leading source of property and casualty insurance solutions and data.
Our sample renter is a single occupant with good credit and no prior claims history. Our sample policies featured a £1,000 deductible and the following coverage and limits:
- £30,000 personal property coverage
- £9,000 loss of use
- £100,000 liability
- £1,000 medical payments
For each provider, we gathered a quote for 50% of the ZIP codes in every state it is licensed in. We used the most populous ZIP codes for our study.
We took the average of these individual quotes to calculate a national average premium per provider. Our sample rates are for informational purposes only. Actual premiums will vary.
Faith Wakefield is a writer based in North Carolina.
She holds economics and English degrees from UNC Chapel Hill, and her work has been featured on EcoWatch, The World Economic Forum and Today’s Homeowner. In her free time, she loves to binge-watch personal finance videos on YouTube, collect books and spend time in nature. Sabrina Lopez is an editor with over six years of experience writing and editing digital content with a particular focus on topics in home services and products, as well as personal finance.
Prior to her editorial experience, Sabrina earned her bachelor’s degree and a certificate to teach English in middle and high school. When she is not working on articles to help consumers make informed decisions, Sabrina enjoys creative writing and spending time with her family and their two parrots.
