Home Insurance in Des Moines, Iowa: A Complete Guide
Des Moines, the capital and most populated city in Iowa, offers residents a balance of urban and suburban living. While it has a relatively low cost of living, weather risks, and local factors contribute to home insurance rates in the area.
National vs. Des Moines Home Insurance Costs
The national average cost for home insurance is $1,400 per year, while Des Moines homeowners pay an average of $1,250 per year. This lower-than-average cost is largely due to Iowa’s generally mild climate, though tornadoes and severe storms can still increase premiums in certain areas.
Local Factors Impacting Insurance Costs
- Weather Risks: Des Moines experiences tornadoes and thunderstorms, which contribute to higher insurance rates.
- Suburban Growth: As more people move into suburban areas, the increased property values also raise insurance premiums.
Home Insurance Rates by Home Age in Des Moines
The age of a home significantly impacts home insurance costs. Newer homes generally benefit from lower premiums because of improved building standards and materials. Here’s how home age impacts rates in Des Moines:
| Home Age | Average Annual Premium |
|---|---|
| 0-10 years | $1,100 |
| 10-20 years | $1,150 |
| 20-30 years | $1,200 |
| 30+ years | $1,300 |
Impact of Home Age on Insurance Rates
- Newer homes typically have lower premiums due to their compliance with modern building codes and use of more durable materials.
- Older homes tend to have higher premiums due to the potential for structural problems or outdated systems that may increase the risk of claims.
Home Insurance Rates by Credit Tier in Des Moines
Credit scores significantly affect home insurance rates in Des Moines. Here’s how rates vary based on credit tiers:
- Excellent Credit (750+): $1,150/year
- Good Credit (700-749): $1,200/year
- Fair Credit (650-699): $1,300/year
- Poor Credit (Below 650): $1,500/year
Cheapest Home Insurance Providers in Des Moines
Here’s a list of the most affordable home insurance providers in Des Moines, along with their average annual premiums:
- State Farm: $1,200/year
- Allstate: $1,220/year
- Liberty Mutual: $1,240/year
- Progressive: $1,270/year
- Farmers: $1,180/year
Home Insurance Rates by Deductible in Des Moines
Your deductible directly impacts your home insurance premium. Here’s how premiums change based on the chosen deductible in Des Moines:
- $500 Deductible: $1,350/year
- $1,000 Deductible: $1,250/year
- $2,000 Deductible: $1,150/year
- $5,000 Deductible: $1,050/year
Types of Homeowners Insurance in Des Moines
There are several types of homeowners insurance policies available to Des Moines homeowners:
- HO-3 (Special Form): The most common policy, providing broad coverage for home and personal property with specific exclusions.
- HO-5 (Comprehensive Form): Offers more extensive protection for both the home and personal property, suitable for high-value homes.
- HO-6 (Condo Insurance): Provides coverage for condo owners, including personal belongings and the interior structure.
- HO-8 (Older Home Insurance): Tailored for historic or older homes, offering specialized coverage for unique architectural features.
Additional Coverage Options in Des Moines
- Flood Insurance: Iowa is prone to heavy rain, and homes near rivers or low-lying areas may require flood insurance since standard policies don’t cover flood damage.
- Windstorm Insurance: Tornadoes and severe storms are common in Iowa, making windstorm coverage a valuable add-on.
- Sewer Backup Coverage: Protects against water damage from a sewer or drain backup, particularly beneficial for older homes with outdated plumbing systems.
Frequently Asked Questions (FAQ) for Des Moines Homeowners
- Q: Is flood insurance required in Des Moines?
- A: While not required for all homeowners, those in flood-prone areas or near rivers may need flood insurance, as standard policies do not cover flood damage.
- Q: How can I reduce my home insurance premium in Des Moines?
- A: Installing home security systems, bundling home and auto insurance, and maintaining the roof and other structures can help lower premiums.
- About the Author
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Autumn Cafiero Giusti is a licensed life and health insurance broker and award-winning journalist with more than 20 years of experience. She writes extensively about flood, Medicare, home, and life insurance for publications like U.S. News and CBS News.
