Home Insurance in Underwood, Iowa
Homes in Underwood carry a median value of $253,500 - 30% higher than the Pottawattamie County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Underwood was built around 1978. About 19% of homes were built before 1960, about 24 points below Pottawattamie County's 43%.
Housing in Underwood breaks down to 92% single-family homes and 8% apartments in buildings with 5+ units.
About 58% of owner-occupied homes in Underwood have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 83% of occupied homes in Underwood are owner-occupied.
In Underwood, 76% of homes are primarily heated with natural gas.
FEMA rates Pottawattamie County's overall risk as Relatively Low, led by hail (Relatively High). Pottawattamie County had 657 active NFIP flood policies as of September 2026. See the full Pottawattamie County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Iowa carries a statewide average premium of $1,342 per year.
Key figures
| Median home value | $253,500 |
|---|---|
| Median year built | 1978 |
| Owner-occupied share | 83% |
| Share of owner-occupied homes with a mortgage | 58% |
| Top county hazard | Hail (Relatively High) |
| Active NFIP policies in Pottawattamie County | 657 |
| Home insurance premium | $1,342 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)