Jazz great and Davenport native Bix Beiderbecke never had formal musical training. But that didn't stop the 1920s coronetist from becoming successful. Today, with the power of information, you can be successful in just about anything including your search for great Iowa house insurance rates. Let's look at how you can do this.

Iowa House Insurance Basics
To better understand what you'll be shopping for, take a look at the below components of a standard policy.

  • Coverage A- Dwelling
    This will pay to rebuild/repair your home in the event of a peril such as fire, tornado, etc. If you have a mortgage, you will probably have to cover at least 80% of the home's value.
  • Coverage B- Other Structures
    This covers unattached property like sheds and garages and is typically 10% of your home's coverage amount.
  • Coverage C- Personal Property (PP)
    This repairs or replaces your personal belongings and coverage is usually 50% of your home's amount of coverage.
  • Coverage D- Additional Living Expenses
    This pays for alternate living arrangements should your home become unlivable because of a peril covered in Coverage A. It's usually about 20% of the home's coverage amount.
  • Coverage E- Comprehensive Personal Liability
    This protects you in the event someone is injured on your property. It typically covers law suits and damages and usually starts at $100,000 per accident.
  • Coverage F- Medical Expense
    Pays for medical expenses per person, per accident when someone is injured on your premises.

Iowa House Insurance Questions to Ask

How much should I insure my home for?
That depends on the home's replacement/rebuild amount which is usually expressed as a cost per square foot. It's not the market value and does not include your land and foundation.

Do most standard policies include coverage for sewer and water damage?
No. But most insurers will add this coverage for an additional cost.

I have a valuable firearms collection and a few pieces of expensive artwork. Are they covered?
Not under most policies. But you can usually add these items—for an extra cost—under what's called a "rider" or "floater".

If a tornado rips off my 15-year-old roof will I be covered?
Yes with another "but". But the reimbursement amount will depend on whether you're covered for actual cash value (ACV) or replacement cost. ACV takes depreciation (wear, tear, age) into consideration while replacement cost does not.

Sample Iowa House Insurance Rates
In 2009, the Iowa Insurance Division conducted a survey of insurers and their rates. The differences in rates may surprise you.

Scenario A- Wood frame home with $70,000 replacement cost coverage.

Fort Dodge rates ranged from $263 to $1,084.
Des Moines rates ranged from $264 to $1,084.
Cedar Rapids rates ranged from $242 to $1,069.

Scenario B- Wood frame home with $100,000 replacement cost coverage.

Fort Dodge rates ranged from $304 to $1,164.
Ottumwa rates ranged from $304 to $1,090.
Council Bluffs rates ranged from $388 to $1,163.

Finding the Lowest Iowa House Insurance Rates
The first way to save money on your rates is to ask an agent about all the discounts they offer. Here is a list that is typically available:

  • Protective devices like dead-bolt locks, smoke detectors, fire extinguishers, automatic sprinklers, burglar/fire alarms, and new plumbing/wiring.
  • Multi-line (house, auto, life)
  • Senior (55+)
  • Non-smoker
  • Paying in advance vs. making monthly or bi-monthly payments.
  • Payroll deducted payments.
  • Military
  • New house discounts; the newer the house the lower the risk.
  • Claims free discount
  • Credit Score

The second and best way to save money on your Iowa house insurance rates is to comparison shop with LocalInsurance. Just look at the above examples—the rates varied by as much as $800! LocalInsurance searches from agents in your area providing you with price comparisons. It's free, easy and takes less than 30 minutes.

If you are interested in learning more about Iowa home insurance, there are a number of resources that are offered by the state. Iowa has a Department of Insurance which can help ensure that you have the appropriate coverage for your home and provide you with useful information when selecting a homeowners insurance policy.