Renters Insurance Iowa
The average estimated cost of a rental insurance policy in Iowa was $138 a year in 2013. Renters insurance is less expensive than many people realize: average homeowners insurance is $670 a year in Iowa.
Comparing Renters and Owners Insurance in 2013 in Iowa
There were 17096 burglaries reported in Iowa in 2012. The landlord's policy does not cover renter's damages like burglary. Thus to get protection from events like fire, burglary and other disasters renters insurance is essential.
Renters Insurance Coverage Types:
Actual cash value policy:
The Actual cash value policy covers the depreciated value of loss. An example of this is – a $1860 Desktop might be worth only $930 in six months and that is the amount the insurance pays for.
Replacement Coverage Policy in Iowa:
- By means of the same example, the insurance need not necessarily pay for the Desktop, but it will get you enough to buy another laptop of the same kind. In Iowa, the replacement cost insurance costs around $34.5 more than the actual cash value policy.
- Taking into account the median rent in Iowa as $800, the average renters insurance of $10 per month is 1.25% of median monthly rent.
Estimated Renters Insurance for Different House Types in Iowa
|House Type||Median Rent||Estimated Renters Insurance|
Deductibles in Iowa:
In Iowa, by choosing a $500 deductible over a $250 deductible, an average of $15.18 can be saved on the insurance premium.