7 Best Renters Insurance Companies in Iowa 2025

It is highly recommended that all renters in Iowa, regardless of their location, acquire renters insurance. While no state or national law mandates it, landlords may require tenants to purchase a policy to protect their belongings and prevent disputes.

Renters insurance offers Iowans peace of mind by safeguarding their possessions against theft or damage. Property Nest strongly advises all residents in the Hawkeye State to purchase this insurance for enhanced security.

According to PropertyNest research, the national average cost of basic renters insurance is about $17 per month, while the average price in Iowa is lower at just $15.38 per month.

We’ve compared the best renters insurance companies in Iowa state.

The Best Renters Insurance Companies in Iowa

• Lemonade – Best for Online and Mobile Services
• Allstate – Best for Retired Renters
• State Farm – Best for High Policy Limits
• Farmers – Best for Customer Support
• Amica – Best for Customizable Coverage
• Nationwide – Best for Riders
• American Family – Best for Pet Owners

Our Top Choices

Lemonade: Best for Online and Mobile Services

You may not have heard of Lemonade because it is a relative newcomer to renters insurance. Still, it has been building a reputation for providing quality insurance with modern convenience.

We chose them for our list of the best renters insurance companies in Iowa because they have prioritized online and mobile services that make it easy to get a quote, buy a policy, and file a claim.

Iowans who prefer to do business online or using their mobile devices will appreciate Lemonade’s streamlined services and speedy response times.

Renters will value Lemonade's affordable rates and philanthropic commitment, as the company annually donates unclaimed premiums to charity.

Lemonade basic renters insurance coverage starts at just $5 per month, making it affordable for renters at every income level.

If you add coverage or schedule valuables, you should expect your cost to increase.

Read a full Lemonade home insurance review.

Allstate: Best for Retired Renters

Allstate is part of the Fortune 500 and one of Iowa's biggest and most reliable insurers offering renters coverage.

They offer several discounts, and we chose them for our list because of a special discount that helps retirees afford renters insurance.

We also like that they have a free mobile app and have prioritized online accessibility, so it’s easy to get a quote, buy a policy, or file a claim on your renters insurance.

The average cost of Iowa renters insurance with Allstate is just $85 per year, totaling $7/month, well below the national and state averages.

Read a full Allstate renters insurance review.

State Farm: Best for High Policy Limits

State Farm has been providing insurance for a hundred years, having gotten its start providing automobile insurance.

The company has a long history of on-time claims payment and customer service and has received high financial ratings.

We chose it for our list because it’s the company that offers the highest coverage limits for renters and is, therefore, best for renters whose belongings may require a higher policy limit than the standard renters insurance policy.

We also like that their prices are affordable.

The average annual cost of a policy with State Farm in Iowa is just $70 per year or $6 per month, which puts it well below the state and national averages.

Read a full State Farm renters insurance review.

Farmers: Best for Customer Support

For 95 years, Farmers Insurance has provided auto, homeowners, and renters insurance coverage.

We chose them for our list because consumers highly rate their customer service, and they have a low level of customer complaints, well below the national average.

We also like Farmers because they offer unique discounts to help first responders and non-smokers save on their renters insurance.

The average cost of renters insurance with Farmers in Iowa is $150 per year, which is slightly above the state average before discounts. However, we should note that their provided average is for Des Moines, where premiums are higher due to higher risk.

Amica: Best for Customizable Coverage

Amica is one of the oldest companies on our list and started in 1907.

We chose Amica for our list because they have an array of riders that make it easy to customize your renters insurance.

We also like that the cost is lower than average, and renters insurance coverage has no upper limit.

Amica's renters insurance costs approximately $16.35 to $19 per month, which is close to the Iowa state average. However, exact costs should be confirmed through a direct quote. Signing up for paperless billing and automatic payments will give you two discounts, which can be layered to reduce your premium.

Read a full Amica renters insurance review.

Nationwide: Best for Riders

Nationwide is one of the best-known companies on our list, with a long history of reliable claims payments and coverage.

We chose them for our list because they offer unique riders that provide renters coverage closer to what they would get with homeowners insurance than with a traditional renters insurance policy.

In addition to providing robust coverage and peace of mind, Nationwide’s renters insurance is reasonably priced, and their customer service is good.

According to Nationwide, the average cost of Iowa renters insurance is just $9 per month or $94 per year, putting it well below the state and national averages.

Of course, you’ll need to remember that your premium may be higher than the average if you add riders or live in a high-risk area.

American Family: Best for Pet Owners

American Family Insurance started in 1927, selling automobile insurance to farmers at affordable prices, and has since expanded its offerings to include renters insurance and other coverages.

We chose American Family for our list because they are the only company offering a rider that protects renters’ pets and reimburses them for some pet-related expenses.

We also like that they offer several unique discounts, including one that rewards generational loyalty.

The average cost for Iowa renters insurance with American Family is $115 per year, just slightly below the state average. Discounts can further reduce your premium.

Is Renters Insurance Mandatory to Rent an Apartment in Iowa?

In Iowa, renters insurance is not legally mandatory to rent a house or an apartment.

However, it is strongly recommended by landlords and renters alike.

Considering that renters insurance is generally very affordable, depending on your coverage limits, it’s a worthwhile investment for renters who want peace of mind and financial protection during their tenancy.

Why Should Iowa Renters Purchase Renters Insurance?

Renters insurance might seem like an extra expense, but now that you know who we’ve chosen as the best insurance companies in Iowa, let’s talk about why we believe every renter should purchase renters insurance.

1. Your landlord’s property insurance does not cover the loss or damage of your property, only theirs.
2. Most people don’t have enough money to pay to replace their belongings if they need to.
3. Renters insurance costs less than replacing your personal property.
4. You’ll be covered even if your belongings are not in your rental unit when they are damaged or stolen.
5. Adding extra coverage for high-cost items like artwork and jewelry is easy.
6. Renters insurance protects you against liability if someone is hurt while in your rental property, including covering some medical expenses.
7. You’ll have peace of mind knowing you won’t need to pay out of pocket if something happens to your property.

As we have noted, the monthly cost of renters insurance in Iowa is less than the cost of a large pizza, meaning that in exchange for a few dollars a week, you can buy enough coverage to replace your personal property, protect your liability, and even pay for you to live someplace else if your rental becomes uninhabitable.

What is the Average Cost of Renters Insurance in Iowa?

For renters in Iowa, renters insurance can be a great way to protect possessions and themselves from unexpected events.

While renters insurance policies vary in coverage, the average cost of basic renters insurance in Iowa is around $15.38 per month or $184.56 a year.

This can depend on several factors, such as where you are renting, the size and value of the property, and the type of coverage chosen.

Regardless of these details, renters insurance is typically more affordable than being uninsured or paying for large unexpected repair bills associated with renters damage.

Renters should explore renters insurance options carefully to determine which policy may be best for them.

What Factors Affect the Rates of Renters Insurance?

We have done our best to provide average costs for each insurance company on our list, but you should know that four factors can impact how much your renters insurance costs.

• Coverage limits. You should estimate the total cost to replace your belongings and choose a limit to protect you; a higher limit will add to your cost.
• Deductible. Your deductible is the amount you will pay out of pocket before your insurance company reimburses you; a policy with a low deductible will cost more than one with a high deductible.
• Riders. Most insurance companies offer riders additional coverage, including protection for high-value items, ID restoration, or food spoilage; any rider you add will increase your premium.
• Location. The area where you live is a factor in determining your premium, with higher costs for those living in high-risk areas.

How Much Renters Insurance Coverage Do You Need in Iowa?

The amount of renters insurance coverage you need depends on your belongings' value, so we recommend taking an inventory that includes the following things.

• Furniture
• Small appliances & kitchen gear
• Electronics
• Books
• Home decor items
• Clothing
• Jewelry (not high-cost items)

You may want to take photographs to document what you own and total the actual cash value (what you paid) and replacement value (what it will cost to replace each item) to determine how much coverage you need.

Remember that high-value items must be scheduled separately at an additional cost.

What Does Renters Insurance Cover in Iowa?

Any Iowa renter who buys renters insurance should clearly understand what is typically covered by renters insurance and what isn’t covered.

Here are the things that are covered by the typical renters insurance policy.

• Damage or theft of personal property. Suppose your personal belongings are damaged, destroyed, or stolen. In that case, your policy will cover the loss based on the type of coverage you buy (actual cash value vs. replacement cash value) and your policy limits.
• Personal liability. If someone is injured in your rental, your policy will provide some protection against your liability for the event.
• Medical coverage. In addition to covering personal liability, renters insurance will cover a portion of your guest’s medical expenses related to a covered injury.
• Alternative living expenses. If your rental should be damaged to the point where it is not habitable, your renters insurance will pay for you to live elsewhere while repairs are completed or you find a new place to live.

Here are some things that are not covered by renters insurance.

• Non-covered events. While most property damage is covered, certain events are not covered by renters insurance, including floods and personal negligence.
• Damage above the policy limit. Your policy limit dictates the maximum amount reimbursable in the event of a claim; if your policy limit is $15,000, that’s the maximum amount you will be reimbursed, and anything over that limit will be your responsibility.
• Unscheduled valuables. High-value items, including jewelry and art, must be scheduled separately at an additional cost; unscheduled valuables will not be covered.

You should always read the fine print of your renters insurance policy to understand your coverage and policy limits.

Synopsis

At Property Nest, we recommend renters insurance for every renter in Hawkeye State who rents an apartment, house, or condo.

Remember, your landlord’s property insurance does not protect you, so you must purchase coverage for peace of mind.

Renters in Iowa who live near the water may want to consider adding flood insurance to their regular renters insurance since flood coverage is not included with standard renters insurance.

We recommend obtaining at least three quotes from different carriers and comparing costs and coverage before you buy a renters insurance policy.

Ask about discounts and take advantage of all that apply to you to minimize your cost and make renters insurance affordable.

Methodology

We thoroughly researched the state's top renters’ insurance companies and narrowed the list down to those that operated in Iowa. We rated them on criteria that included ease of use, ratings, financial strength, customer, and affordability. Read our full in-depth renters insurance methodology.

How We Ranked and Picked the Best Renters Insurance Companies in Iowa

We used key criteria to choose the best renters insurance companies in Iowa.

Coverage

Renters insurance coverage can vary from company to company, so we prioritized companies with various coverage levels and options to allow Iowa renters to customize their coverage.

Price

Cost is top-of-mind for many renters, so we chose companies with affordable rates for renters insurance compared with state and national averages.

Discounts

Discounts are one of the easiest ways to reduce the cost of renters insurance, which is why we looked for companies that provide at least two discounts on renters insurance, particularly those that offer discounts that apply to most renters.

Customer Support

Every Iowa renter deserves a stress-free experience when buying renters insurance, requesting support, or filing a claim, so we prioritized companies with high customer service ratings and various support options.

Online & Mobile Services

Easy online and mobile access to quotes, policy information, and claims filing and tracking are essential to today’s renters. We ensured our chosen companies had helpful websites and well-designed online and mobile services.