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Most times, in the case of fire, burglary, or injury, renters insurance can provide policyholders with financial assistance to replace belongings and/or pay for medical bills. For more information about an Iowa renters insurance policy, read through our guide below.

What’s the average renters insurance cost in Iowa?

Many people underestimate the value of their belongings, so they may not think renters insurance is worth the money. But when you compare the cost of renters insurance to the expense of replacing everything you own— including furniture, electronics, jewelry, and more— it’s proves to be a good value.

In Iowa, the average renters insurance premium is just $147 annually, which works out to be about $12 per month. That’s 21% less than what renters in most states spend. Earning minimum wage, you’d only have to work 20 hours to pay for a year’s worth of coverage. Since it’s so affordable, you shouldn’t sign a lease without renters insurance.

What does Iowa’s rental insurance cover?

We hope you never experience a break-in, but it’s important to know that 17,096 burglaries occurred in Iowa in 2012. If you come home and your belongings are gone, don’t wish you had renters insurance be thankful that you have it.

With renters insurance, you can be reimbursed for the cost of replacing your stolen items often at their full retail price. Rental insurance can also come in handy if your things are damaged by a fire, water leak, storm, or other covered peril. Even belongings that are lost or stolen when they’re not inside your home may be covered under your policy. Here’s the bottom line: after an unexpected event occurs, renters insurance can help get your life back to normal without costing you too much financial pain.

How can you get cheap renters insurance?

Your renters insurance premium is established by looking at multiple factors, such as: where you live, your history of claims, any current policies you currently hold, and more. However, you can keep your premiums lower if you qualify for discounts.

  • Multi-Policy: Bundle auto or another insurance plan with renters insurance and save.
  • No Prior Claims: If you haven’t ever filed a claim, you’ll save on your rental insurance premium.
  • Safety Devices: Pay less if you install smoke detectors, anti-theft systems, or other safety devices.
  • Higher Deductibles: If you opt into a plan with a higher deductible, you’ll have a lower payment amount every month. Watch out for this though. Your deductible is something you’re responsible for paying if you file a claim.

What are some Iowa renters insurance facts?

Like you, 28% of the people who live in Iowa are renters. On average, residents spend $700 for a two-bedroom rental and pay about $147 per year for rental property insurance. With these low rates and the protection it offers, renters insurance is worth looking into.

Before making any final decisions on your insurance company, it is important to learn as much as you can about your local insurance providers, and the coverages they offer. Call your local insurance agent to clear up any questions that you might have. Questions to consider asking include, “What is the best coverage plan for me/my family/my situation?” “What are the minimum coverage requirements in my state and what form of coverage do you recommend?” “Do you guys offer any bundle discounts if I take out both my auto insurance and home insurance with you?” and “What is the average rate of insurance quotes you guys offer?”

Before making any big insurance decisions, use our free tool to compare insurance quotes near you. It’s simple, just plug in your zip code and we’ll do the rest!

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