Iowa FAIR Plan Association

Overview

The Iowa FAIR Plan Association (FAIR = Fair Access to Insurance Requirements) is an unincorporated mandatory risk-sharing facility established by state law to provide basic property insurance to those unable to obtain coverage in the voluntary market.

Key Characteristics

Last Resort Market

• Should be considered a last resort when seeking property insurance
• Provides basic coverage with less protection than voluntary market policies
• All licensed insurers in Iowa share in the plan's losses

Coverage Provided

Note: Coverage is more limited than standard HO-3 policies

Eligibility Requirements

To qualify for Iowa FAIR Plan coverage:

1. Recent Market Rejection: Must have received a notice of rejection, non-renewal, or cancellation from an insurer within the past 6 months
2. Property Type: One to four-family dwellings, including single-family mobile homes
3. Location: Property must be located in Iowa
4. Agent Submission: Applications must be submitted by a licensed Iowa insurance agent

Application Process

Before applying to the FAIR Plan, the Association recommends:

1. Contact your agent - Ask if actions can be taken to keep current coverage (e.g., replacing old roof, cleaning debris)
2. Shop the voluntary market - Have your agent apply to voluntary market insurers first
3. Apply through an agent - Only licensed Iowa agents can submit FAIR Plan applications

Contact Information

• Address: 2700 Westown Pkwy Ste 415, West Des Moines, IA 50266
• Phone: 515-255-9531
• Hours: 8:30 am - 4:00 pm Monday-Friday

Exam Tip: The Iowa FAIR Plan is a last-resort market. Agents are required by state law to assist property owners with obtaining FAIR Plan coverage when requested, but should first attempt to find coverage in the voluntary market.