Getting a Condo Insurance Quote in Iowa
Many residents in Iowa choose the ease of living in condos. Choosing the right condo insurance in Iowa can be confusing, so we're here to assist you by outlining a couple of key elements which you need to keep in mind while negotiating the final cost of your condo insurance so that you get the right policy for your needs at the right cost. There are lots of aspects that will affect how expensive or cheap your annual condo insurance quote is going to be, so we've made it our aim is to help make the condo insurance buying process a breeze.
Iowa Condo Insurance Statistics at a Glance
Given the numerous factors which impact the price of condo insurance, and taking into consideration that property values are on the rise, Iowa condo insurance coverages can be more on the costly side. Iowa is ranked the 5th most expensive state in the country for condo insurance. Iowa residents pay an average of $173 a month or $2,072.00 annually in condo insurance premiums. Although Iowans are paying more about condo insurance, the fantastic thing is that trends show that rates are getting more affordable. Overall most cities in Iowa have comparable average monthly rates, but Bettendorf, IA has been shown to be the cheapest cities in $603.50 annually or $50.29 a month. On the other hand, Council Bluffs, IA gets the maximum condo insurance rates in the state at $868.00 annually or $72.33 a month. Different insurance companies have important differences in rates so it is important to shop around in the event that you're looking for condo insurance in Iowa.
$375
Average Annual Cost of Condo Insurance in Iowa
The average cost of condo insurance in Iowa on an annual basis is $375.
$31
Average Monthly Cost of Condo Insurance in Iowa
The cost of condo insurance in Iowa is roughly $31 per month.
19%
Percentage of Income on Ownership for Condos in Iowa
Residents of Iowa spend an average of 19% of their income on condo ownership.
35 years
Median Age of a Property Which Requires Iowa Condo Insurance
The average age of a property requiring condo insurance in Iowa is roughly 35 years.
What Affects the Costs of Your Condo Insurance in Iowa
There are a number of variables which cause condo insurance coverages in Iowa to change in price. Insurance companies use many variables to compute your personal risk and policy needs, as well as to secure you a precise quote to your condo insurance coverage. However, there many factors outside your control that may affect the price of your condo insurance in Iowa. Those factors may include things like the location of the condo, the age of your condo in Iowa, along with the construction quality of your condo. They might also be able to see if you are eligible for discounts. Some factors within your control that can help or hurt the final pricing of your Iowa condo insurance prices could be variables like your own credit history, your claims history with other condo insurance suppliers, your driving record, the sum of personal belongings which you have on your condo, the people that live on your condo, and whether you own or rent the condo. To be able to get the best possible quote, we highly advise that you have a lot of this information ready before obtaining a condo insurance quote to the Iowa property.
Average Cost of Condo Insurance in Iowa by City
The most common type of condo insurance in Iowa is an HO6 insurance plan. Whether you're living the city life in Des Moines or Cedar Rapids or have a condo at a bigger town like Johnston, you'll likely require H06 insurance for your condo in Iowa. To give you an notion of how much it will cost to cover that the condo, we've supplied a complete list of projected condo insurance quotes for your Iowa city. The following averages are based on all insurance prices for your respective city or town in Iowa, therefore depending on where your condo is located in your neighborhood, your final price could differ radically than that which 's quoted below.
| City in Iowa | Average Monthly Costs for Condo Insurance | Average Annual Costs for Condo Insurance |
|---|---|---|
| Des Moines, IA | $57 | $687 |
| Cedar Rapids, IA | $52 | $620 |
| Davenport, IA | $51 | $612 |
| Sioux City, IA | $64 | $765 |
| Iowa City, IA | $54 | $643 |
| Waterloo, IA | $56 | $673 |
| Ames, IA | $55 | $665 |
| West Des Moines, IA | $56 | $670 |
| Ankeny, IA | $53 | $640 |
| Council Bluffs, IA | $72 | $868 |
| Dubuque, IA | $52 | $618 |
| Urbandale, IA | $56 | $668 |
| Cedar Falls, IA | $56 | $667 |
| Marion, IA | $51 | $617 |
| Bettendorf, IA | $50 | $604 |
| Mason City, IA | $58 | $698 |
| Marshalltown, IA | $57 | $681 |
| Clinton, IA | $52 | $622 |
| Burlington, IA | $56 | $674 |
| Ottumwa, IA | $56 | $672 |
| Fort Dodge, IA | $62 | $745 |
| Muscatine, IA | $53 | $633 |
| Waukee, IA | $55 | $665 |
| Johnston, IA | $54 | $646 |
| Coralville, IA | $53 | $632 |
Choosing the Best Condo Insurance Company in Iowa for Your Needs
Making certain that you set in time and attempt to pick the ideal condo insurance provider in Iowa to your needs will give you peace of mind in the long run. You're insuring yourself your space, and your valuables , therefore spend that extra time to search for the insurance which you can find. Don't brief change your Iowa condo and the possessions interior it by settling for the most affordable one on the marketplace. The ideal thing to do would be to shop around and compare several companies before making final choices and picking the ideal condo insurance provider in Iowa to suit your needs. Keep in mind that a company that is reliable will not force you into making a decision quickly or cover coverage which you don't need. Start looking for condo insurance companies which reward their long term customers with discounts, loyalty benefits or provide bundle insurance discounts. Finally, be sure your chosen provider is accredited. Assess the Iowa Department of Insurance website to learn the licensing status, financial stability and criticism history of your chosen insurer.
The Top Rated Condo Insurance Companies in Iowa Based off Consumer Ratings
The top place is held by state Farm at being the biggest condo insurance provider in the United States for more than 50 decades. In Iowa, a study done by JD Power showed that State Farm has been scored a 4 out of a 5 (higher than the average) in the coverage offerings, charging and payment, customer support and claims. In Iowa, State Farm also received a NAIC criticism ratio of 0.2. Like most condo insurance companies in Iowa, they provide premium discounts on condos which have been renovated or made to better withstand any natural disasters which might happen in The Hawkeye State. When considering pure metrics of condo insurance companies in Iowa alone, USAA gets the greatest JD Power rating in the state at 5 while Nationwide gets the cheapest at 2. The condo insurance provider in Iowa which has the cheapest NAIC criticism ratio in Iowa is West Bend in 0.05 while Pekin Insurance Co gets the highest NAIC criticism ratio in 0.97.
| Iowa Condo Insurer | JD Power Rating | NAIC Rating |
|---|---|---|
| State Farm Ratings for Condo Insurance in Iowa | 4/5 | 0.2 |
| Nationwide Ratings for Condo Insurance in Iowa | 2/5 | 0.4 |
| American Family Insurance Ratings for Condo Insurance in Iowa | 3/5 | 0.69 |
| Iowa Farm Bureau Ratings for Condo Insurance in Iowa | N/A | 0.32 |
| Auto-Owners Insurance Ratings for Condo Insurance in Iowa | 4/5 | 0.21 |
| IMT Insurance Ratings for Condo Insurance in Iowa | N/A | 0.44 |
| West Bend Ratings for Condo Insurance in Iowa | N/A | 0.05 |
| Allstate Ratings for Condo Insurance in Iowa | 3/5 | 0.31 |
| Farmers Ratings for Condo Insurance in Iowa | 3/5 | 0.46 |
| USAA Ratings for Condo Insurance in Iowa | 5/5 | 0.15 |
| Liberty Mutual Ratings for Condo Insurance in Iowa | 2/5 | 0.53 |
| Pekin Insurance Co Ratings for Condo Insurance in Iowa | N/A | 0.97 |
| Travelers Ratings for Condo Insurance in Iowa | 2/5 | 0.3 |
Iowa Condo Insurance Requirements
Beneath the Horizontal Real Property Act a condo unit owner in Iowa is permitted to receive insurance for their own advantage, but is not required to do so. The Act statesthat if in the time of loss the unit owner has an insurance plan that covers exactly the exact same danger as the association's coverage, then the associations' policy will take precedence and provide the insurance that is primary. Iowa law demands condominium institutions obtain insurance for your own condominium building as a whole. However, condo unit owners might still want to consider buying insurance policies to insure their accountability their possessions, any improvements that they install, or any loss or event not covered by the association's coverage.
What's Covered with Your Condo Insurance in Iowa
When browsing for the condo insurance policy, what you'll notice is that most condo insurance companies in Iowa will provide standard coverage which can include building property policy, personal property policy, loss of use coverage and liability policy. Building property policy protects you financially out of damage to the inside of your condo (floors, walls, tiles) and loss of permanent fixtures caused by a covered event, such as fire. Personal property policy protects your personal belongings, such as furniture, electronics, and clothing, which are lost because of a covered event. With liability policy, if you are held accountable for property damage or bodily harm then liability policy offers protection for you. Usually a condo insurance plan in Iowa covers $100,000 in liability damages. With loss of use policy: If your condo in Iowa becomes uninhabitable and you need to live outside your condo because of a covered event and are paying more than you would living on your condo then this feature will cover you for the higher living expenses.
| Average Costs of Condo Insurance in Iowa by County | Average monthly condo insurance cost | Average annual homeowners insurance cost |
|---|---|---|
| Polk County, IA | $55.20 | $662.20 |
| Linn County, IA | $51.50 | $618.50 |
| Scott County, IA | $50.50 | $608.00 |
| Black Hawk County, IA | $56.00 | $670.00 |
| Johnson County, IA | $53.50 | $637.50 |
| Woodbury County, IA | $64.00 | $765.00 |
| Story County, IA | $55.00 | $665.00 |
| Pottawattamie County, IA | $72.00 | $868.00 |
| Dubuque County, IA | $52.00 | $618.00 |
| Cerro Gordo County, IA | $58.00 | $698.00 |
| Marshall County, IA | $57.00 | $681.00 |
| Clinton County, IA | $52.00 | $622.00 |
| Des Moines County, IA | $56.00 | $674.00 |
| Wapello County, IA | $56.00 | $672.00 |
| Webster County, IA | $62.00 | $745.00 |
| Muscatine County, IA | $53.00 | $633.00 |
| Dallas County, IA | $55.00 | $665.00 |
How to Get Iowa Condo Insurance Discounts
Every insurance provider in Iowa has its very own reduction or dedication program. So be certain that while you're shopping around for a condo insurance quote which you ask about any discounts which may be available for you or your family . Usually, there are quite a few discounts available on Iowa condo insurance coverages. Couple for are new client discounts, multi-policy and bundled discounts, loyalty discounts and discounts.
| Condo Insurance Deductible | Average Iowa Condo Insurance Costs Based off Deductible |
|---|---|
| $500 | $129 |
| $1,000 | $119 |
| $1,500 | $113 |
| $2,000 | $106 |
| $5,000 | $90 |
Getting the Best Iowa Condo Insurance Rates
Shopping around is key to determining if enough savings are obtainable to your Iowa condo insurance plan. All you need to do is call us and see if any insurers can defeat what you are currently paying. You could be amazed. You might even ask a friend to refer you to their current condo insurance provider which may result in a referral reduction. You can increase because the higher your deductible, the lower your price of your insurance. But be certain that your deductible is not high because in the event of a loss you are responsible for paying any sum up to the deductible. See if you can bundle multiple kinds of insurance policies with your supplier as insurers offer discounts to customers bundle insurance policies. For instance, consult the supplier of your car insurance and see if they can reduce your premium if you get condo insurance from them. If you keep with the insurer for multiple decades then they may provide longevity discounts for long-time customers. A few of these discounts can save you up to 10% on your premiums. Pay attention and make sure it stays high as insurance companies take that into consideration when picking your condo insurance premium. Boost it keep it high to get a reduced insurance premium.