Iowa can be a great place to live if you love nature or like having some space to yourself, but there are also plenty of people renting apartments in the state, perhaps like yourself, who are trying to live with as few worries as possible. Unfortunately, break-ins and other crimes still occur in the state, and severe weather can always heavy damage or even ruin your home. For these reasons we want you to consider renters insurance, which can be the fallback position you need should the worst occur. We investigated the cheapest providers for you.
Here are the five cheapest renters insurance providers operating in Iowa:
The Five Cheapest Quotes:
We would like to note here that these numbers and observations are averages and might not completely reflect your experience. However, we are confident that you will find the right fit for you among these companies.
The number listed next to each provider is the average annual rate for a standard policy.
1) State Farm: $136
State Farm is the on-average cheapest provider of renters insurance in Iowa, but that doesn’t mean they also don’t have a lot to offer other than this fact. Further still, you might be eligible for certain discounts and bundling options if you’re also interested in auto insurance. Some limited customization options are offered, depending on your plan.
You may want to note that their water damage coverage can at times be lacking, and some of their agents don’t have the best reviews (albeit this is by no means a universal trend). If these things are important, you may want to look elsewhere.
You can expect the following working with State Farm:
- A fantastic loss-of-use policy to always keep you under a great roof, and ideally back in your apartment as soon as possible.
- A policy that covers expensive items generally better than the competition.
- A regular commitment to making sure you are getting the least expensive rate possible.
2) Allstate: $155
One of the all-around least expensive providers in the country (and they serve a lot of people), it comes as absolutely no surprise to us that Allstate would be able to provide people with cheap, effective coverage in Iowa. They’re a great choice for those who have a basic insurance requirement or those that won’t need anything more than a standard policy.
There are tradeoffs for ease-of-use and a cheap price, however, and you might not get the best customer service (at least when compared to other companies) from Allstate. You also might not have as many customizations options, so those looking for a more detailed or nuanced policy might want to look elsewhere.
You can expect the following working with Allstate:
- Excellent water damage plans if that is a concern where you live.
- A philosophy that makes them one of the best choices for customers just looking for a simpler solution.
- A stable company structure that ensures you’ll get what you need no matter what happens.
3) Nationwide: $166
Often a more expensive and “premium” insurance provider in other states, Nationwide is a fantastic service that fortunately in Iowa is a very affordable option for most people, offering a wide host of customization options for those looking for a plan just for them. You will even be able to set the coverage levels for categories of items, letting people who have a large amount of jewelry, electronics, etc. to get the coverage they need.
There are few disadvantages to using them in Iowa when they can offer a low rate, but you will want to be careful about their default coverages and make sure what you get is enough.
You can expect the following working with Nationwide:
- Plenty of discount and bundling options to get your rate even lower.
- A free annual assessment to help you get the best coverage offer.
- Very well-trained agents that are experts in working with customers to solve issues and answer questions.
4) Farmers: $251
After a bit of a price jump comes Farmers, a provider that prides itself on its customer service, and with good reason. Satisfaction ratings are much higher with Farmers than elsewhere and you might consider the saved time and stress reason enough to work with Farmers over the less expensive options. Additionally, with Farmers you will have plenty of customization options to work with, ensuring there is no waste in your policy.
You might need to explore those customization options if you have plenty of jewelry or other similar valuables, as a few categories of coverage are somewhat lacking at the default level. Other customers report a bit too much paperwork and bureaucratic runaround, as nice as their service is.
You can expect the following working with Farmers:
- A customer service team you can rely on.
- A customizable deductible, so that you have more power over your coverage and your annual rate.
- Optional coverages that include pet damage protection, identity theft coverage, personal article floaters, and others.
5) Liberty Mutual: $306
A choice that’s perhaps a bit more expensive in Iowa, but might still be an excellent choice for anyone looking for a great all-around provider and policy, Liberty Mutual is one of the largest providers in the country and has above average coverages in nearly every category and also provides a high level of service throughout the renters insurance experience.
The main caveat is that while we heard great things about their renters insurance, some of their other offerings don’t get as stellar reviews, so bundle at your own risk. It’s also possible you may experience a rate spike depending on your area.
You can expect the following working with Liberty Mutual:
- Opportunities for discounts based on their partnerships with many workplaces and organizations.
- An excellent quoting system that provides fast and accurate results.
- Great online service, whether it involves signing up or claims.
All things considered, buying renters insurance in Iowa isn’t too bad a prospect where price and risk are concerned, but we still recommend it for nearly everyone who rents an apartment and we want you to get the most value for your dollar. For these reasons, we hope you look into the matter further and get quotes from the companies you think might be the best bit for you and your apartment. No matter your final choice though, we hope you get the peace of mind and security net you deserve so you can move onto your next major goals.