, you should have a policy that covers snow and hail damage, flooding, tornadoes, and other weather-related hazards. It only requires comparing quotes from various companies to find the best homeowners insurance for you.

Purchasing a home may be both an exciting and stressful period in your life. You'll want to protect your new investment as much as possible, and the best way to do so is to purchase homeowners insurance.

You should develop a thorough understanding of what you’re signing up for before you sign on the dotted line for a homeowners insurance policy.

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homeowners insurance

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What is homeowners insurance?

Homeowners insurance is coverage that protects your home and everything in and around it. A standard homeowners insurance coverage protects you against home loss, personal liability, and property damage.

The average cost of homeowners insurance in the United States is $1,387 per year or $115 per month.

Basic components of homeowners insurance

Homeowners insurance usually includes the following coverages:

Coverage A (Structure): Covers the cost of repairing or replacing the house's structure.

Coverage B (Additional structures): Covers the cost of repairing or replacing other structures on the property, such as fences, pools, and sheds.

Coverage C

(Personal property): Provides coverage in the event of the loss or destruction of specific personal belongings (like electronics, furniture, jewelry, etc.).

Coverage D (Additional expenses): Also known as "loss of use." Pays for temporary living expenses (such as a hotel or rent) incurred as a result of the loss of all or a portion of your home.

Coverage E

(Personal liability): Pays for legal fees if someone is injured on your property (or by a pet or family member).

You can get a policy that covers either the actual cash value (ACV) of your property at the time of loss or the replacement cost—the expense of replacing the property regardless of its actual worth. In most circumstances, homeowners need to purchase a policy that covers at least 80% of the replacement cost.

MORE:

Home insurance terms you need to know

Named perils

There is no standard comprehensive coverage for home insurance unless you have a special policy. Your insurance will only cover the named perils and unusual situations specified in your contract. Typically, these are:

Fire

Smoke

Windstorms and hail

Vandalism

Theft

Weight of ice, snow, and/or sleet

Water overflow or discharge (plumbing, leaks, etc.)

Before signing, read over your insurance to ensure you understand what is and isn't covered!

Is homeowners insurance required in Iowa?

In Iowa, homeowners insurance is not required by law. However, in order to obtain a loan, most mortgage lenders need homeowners to have a certain amount of insurance. Because they have an investment in your home, a mortgage lender wants to ensure that it is adequately insured in the event of damage or a catastrophic loss.

How to get homeowners insurance

If you've recently acquired a house or are searching for a new homeowners policy, start by comparing quotes from a few different providers (which is made simple using the

Jerry

app!). Accepting the first referral that comes your way may result in you missing out on discounts, so don’t be afraid to do some real digging.

You should always receive a quote from your auto insurance company. Even though the initial cost is higher, bundling your

house and auto

insurance policies may save you money. Savings from bundling can range from 5% to 15% or more, so it's worth looking into what's available to you.

Recommended home insurance coverage in Iowa

For homeowners in Iowa, the main perils you’ll want to protect against are blizzards, tornadoes, and floods. Many homeowners policies will cover the first two, but you should make sure you're covered in Iowa against severe floods.

Here are three methods for protecting your home from potential flood damage:

Flood insurance

protects your house from any damage caused by external flooding. There are a few options for this coverage, including FEMA's

National Flood Insurance Program (FLIP)

Water backup insurance, in the event of a burst or backed-up pipe, can cover the cost of water removal and repairs.

An HO-5 or open perils policy covers any risk unless it is clearly stated as an exclusion in your policy.

MORE:

How to choose the right kind of home insurance for you

Why is homeowners insurance in Iowa so expensive?

The average cost of homeowners insurance in Iowa is higher than the national average of $1,387 per year. Some personal characteristics influence house insurance premiums, such as employment status and credit history, but there are specific factors that might impact homeowners insurance across Iowa.

Flooding and storms

Floods and storms can cause extensive damage to one’s home, and severe storms can even result in a complete loss of property. Iowa is pretty prone to major floods and has seen increasingly longer flood seasons in recent years.

Blizzards

Severe winter storms can lead to a loss of power, destruction of your home, and a lot of other issues. Iowa can see some pretty harsh blizzards in the winter, which can hike up homeowners insurance rates.

Homeowners insurance discounts in Iowa

Insurance companies regularly provide a variety of discounts to various types of customers and acts. The table below contains examples of frequent homeowner insurance discounts:

Discount	How to get it
Bundling	Bundling home and auto insurance could earn you a steep discount on both policies.
Security system	Your insurance company may give you a discount on your homeowners insurance if you have a security system to prevent theft.
Claims-free	If you go a particular amount of time (usually a few years) without filing a claim on your insurance, you can be eligible for a discount.
Upgraded fire alarm	Set your fire alarm to call the fire department directly; your insurance company may offer a discount for a faster fire response time.
Lump sum payment	If you can pay your annual home insurance premium in one lump amount rather than over the course of a year, your insurance company may offer you a discount.

How to save on home and auto insurance

Buying

homeowners insurance

might be stressful, especially if it's your first time—but thanks to the

Jerry

app, it's easier than ever.

A licensed broker that offers end-to-end support, the Jerry app gathers affordable quotes, helps you switch plans, and will even help you cancel your old policy. Jerry can also look for

car insurance

policies to bundle with your home insurance!

The best part? The average Jerry user saves $887 a year on car insurance.

“It’s my first time buying insurance.
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FAQs

Is flood insurance required in Iowa?

Damage caused by external flooding isn’t required by law and will have to be purchased on top of your homeowners insurance. And while homeowners insurance isn’t required in Iowa, most lenders ask for it—and it's always a good idea to protect your house!

What is the average cost of homeowners insurance in Iowa?

The cost of Iowa homeowners insurance varies depending on where you reside and other factors, but it typically ranges between $1,500 and $1,800 per year.

Save an average of 18% by bundling your home and auto insurance

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