Nuveen Insured Dividend Advantage Municipal Fund

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-09475         

        Nuveen Insured Dividend Advantage Municipal Fund         
(Exact name of registrant as specified in charter)


        333 West Wacker Drive, Chicago, Illinois, 60606         

Address of principal executive offices) (Zip code)


Jessica R. Droeger—Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois, 60606         

(Name and address of agent for service)

Registrant's telephone number, including area code:         312-917-7700        

Date of fiscal year end:            10/31          

Date of reporting period:          7/31/04         

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

Portfolio of Investments (Unaudited)
Nuveen Insured Dividend Advantage Municipal Fund (NVG)
July 31, 2004


Principal

Optional Call

Market

Amount (000)

Description(1)

Provisions*

Ratings**

Value


Alabama - 4.3%

 

$

5,310

Athens, Alabama, Water and Sewer Revenue Warrants, Series 2002, 5.300%, 5/01/32 - MBIA Insured

5/12 at 101.00

AAA

$    5,476,097

 

3,045

Hoover, Alabama, General Obligation Warrants, Series 2003, 5.000%, 3/01/20 - MBIA Insured

3/12 at 101.00

AAA

3,166,617

 

10,000

Jefferson County, Alabama, Sewer Revenue Capital Improvement Warrants, Series 1999A, 5.375%,

2/09 at 101.00

AAA

11,111,200

   2/01/36 (Pre-refunded to 2/01/09) - FGIC Insured


Alaska - 3.4%

 

15,000

Alaska, International Airport System Revenue Bonds, Series 2002B, 5.250%, 10/01/27 - AMBAC

10/12 at 100.00

AAA

15,337,800

   Insured


Arizona - 1.1%

 

5,000

Phoenix, Arizona, Civic Improvement Corporation, Senior Lien Airport Revenue Bonds, Series 2002B,

7/12 at 100.00

AAA

5,033,550

   5.250%, 7/01/32 (Alternative Minimum Tax) - FGIC Insured


California - 9.9%

 

8,890

California, General Obligation Veterans Welfare Bonds, Series 1997BH, 5.400%, 12/01/14

12/08 at 101.00

A

9,234,488

   (Alternative Minimum Tax)

 

3,200

California, Various Purpose General Obligation Bonds, Series 2000, 5.250%, 9/01/17 - MBIA Insured

9/10 at 100.00

AAA

3,436,416

 

10,000

California, General Obligation Refunding Bonds, Series 2002, 5.000%, 2/01/23 - MBIA Insured

No Opt. Call

AAA

10,216,400

 

3,000

California, General Obligation Veterans Welfare Bonds, Series 2001BZ, 5.375%, 12/01/24

6/07 at 101.00

AAA

3,028,710

   (Alternative Minimum Tax) - MBIA Insured

 

7,935

Los Angeles, California, Certificates of Participation, Real Property Acquisition Program, Series

4/12 at 100.00

AAA

8,127,186

   2002, 5.300%, 4/01/32 - AMBAC Insured

 

1,000

Los Angeles Convention and Exhibition Center Authority, California, Certificates of Participation,

12/05 at 100.00

AAA

1,098,170

   Series 1985, 9.000%, 12/01/20 (Pre-refunded to 12/01/05)

 

7,500

Northern California Power Agency, Revenue Refunding Bonds, Hydroelectric Project 1, Series 1998A,

7/08 at 101.00

AAA

7,593,375

   5.200%, 7/01/32 - MBIA Insured

 

2,320

Sacramento Municipal Utility District, California, Electric Revenue Bonds, Series 2001P, 5.250%,

8/11 at 100.00

AAA

2,490,079

   8/15/18 - FSA Insured


Colorado - 0.9%

 

1,580

Gunnison Watershed School District No. RE 1J, Gunnison and Saguahce Counties, Colorado, General

No Opt. Call

Aaa

1,719,024

   Obligation Bonds, Series 2004, 5.000%, 12/01/15 - FSA Insured

 

Sand Creek Metropolitan District, Colorado, General Obligation Bonds, Series 2004:

1,095

   5.000%, 12/01/13 - XLCA Insured

No Opt. Call

AAA

1,183,279

1,170

   5.000%, 12/01/14 - XLCA Insured

12/13 at 100.00

AAA

1,254,310


Florida - 16.1%

 

Florida Municipal Loan Council, Revenue Bonds, Series 2003B:

2,305

   5.250%, 12/01/17 - MBIA Insured

12/13 at 100.00

AAA

2,492,973

1,480

   5.250%, 12/01/18 - MBIA Insured

12/13 at 100.00

AAA

1,592,391

 

11,600

Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Bonds, Series 2002B,

10/12 at 100.00

AAA

11,846,848

   5.125%, 10/01/21 (Alternative Minimum Tax) - FSA Insured

 

6,000

JEA, Florida, Water and Sewerage System Revenue Bonds, Series 2002A, 5.500%, 10/01/41 - MBIA

4/07 at 100.00

AAA

6,196,620

   Insured

 

8,155

Lee County, Florida, Solid Waste System Revenue Refunding Bonds, Series 2001, 5.625%, 10/01/13

10/11 at 100.00

Aaa

8,820,285

   (Alternative Minimum Tax) - MBIA Insured

 

15,000

Miami-Dade County School Board, Florida, Certificates of Participation, Series 2003A, 5.000%,

No Opt. Call

AAA

16,118,400

   8/01/27 (Mandatory put 8/01/08) - MBIA Insured

 

Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2002:

7,165

   5.625%, 10/01/15 (Alternative Minimum Tax) - FGIC Insured

10/12 at 100.00

AAA

7,866,024

5,600

   5.750%, 10/01/16 (Alternative Minimum Tax) - FGIC Insured

10/12 at 100.00

AAA

6,199,144

10,000

   5.125%, 10/01/21 (Alternative Minimum Tax) - FGIC Insured

10/12 at 100.00

AAA

10,226,300

2,000

   5.250%, 10/01/22 (Alternative Minimum Tax) - FGIC Insured

10/12 at 100.00

AAA

2,056,700


Georgia - 0.4%

 

1,695

Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2002B-2, 5.500%,

12/11 at 100.00

AAA

1,730,222

   6/01/32 (Alternative Minimum Tax)


Illinois - 14.0%

 

10,000

Bolingbrook, Illinois, General Obligation Bonds, Series 2002A, 5.375%, 1/01/38 - FGIC

1/12 at 100.00

AAA

10,257,700

   Insured

 

5,000

Chicago, Illinois, General Obligation Project and Refunding Bonds, Series 2001A, 5.500%, 1/01/38 -

1/11 at 101.00

AAA

5,201,850

   MBIA Insured

 

Chicago, Illinois, Second Lien Passenger Facility Charge Revenue Bonds, O'Hare International

Airport, Series 2001C:

4,250

   5.500%, 1/01/16 (Alternative Minimum Tax) - AMBAC Insured

1/11 at 101.00

AAA

4,577,292

4,485

   5.500%, 1/01/17 (Alternative Minimum Tax) - AMBAC Insured

1/11 at 101.00

AAA

4,808,413

4,730

   5.500%, 1/01/18 (Alternative Minimum Tax) - AMBAC Insured

1/11 at 101.00

AAA

5,047,005

2,930

   5.500%, 1/01/19 (Alternative Minimum Tax) - AMBAC Insured

1/11 at 101.00

AAA

3,111,836

 

3,000

Chicago, Illinois, General Airport Third Lien Revenue Refunding Bonds, O'Hare International

1/12 at 100.00

AAA

3,286,890

   Airport, Series 2002A, 5.750%, 1/01/17 (Alternative Minimum Tax) - MBIA Insured

 

12,765

Chicago, Illinois, Revenue Bonds, Skyway Toll Bridge, Series 1996, 5.500%, 1/01/23 - MBIA Insured

1/07 at 102.00

AAA

13,612,596

 

4,000

Cicero, Cook County, Illinois, General Obligation Corporate Purpose Bonds, Series 2002, 5.000%,

12/12 at 101.00

AAA

4,127,760

   12/01/21 - MBIA Insured

 

1,500

DuPage County Community School District 200 Wheaton, Illinois, General Obligation Bonds, Series

10/13 at 100.00

Aaa

1,577,340

   2003C, 5.250%, 10/01/22 - FSA Insured

 

5,000

Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2002, 5.250%, 4/01/23

4/12 at 100.00

AAA

5,215,900

 

2,700

University of Illinois, Certificates of Participation, Utility Infrastructure Projects, Series

8/11 at 100.00

AAA

2,953,260

   2001A, 5.000%, 8/15/20 (Pre-refunded to 8/15/11) - AMBAC Insured


Indiana - 16.6%

 

3,380

Evansville, Indiana, Sewage Works Revenue Refunding Bonds, Series 2003A, 5.000%, 7/01/20 - AMBAC

7/13 at 100.00

AAA

3,514,254

   Insured

 

Indiana Bond Bank, Special Program Bonds, Hendricks County Redevelopment District, Series 2002D:

2,500

   5.375%, 4/01/23 - AMBAC Insured

4/12 at 100.00

AAA

2,624,675

7,075

   5.250%, 4/01/26 - AMBAC Insured

4/12 at 100.00

AAA

7,251,663

7,000

   5.250%, 4/01/30 - AMBAC Insured

4/12 at 100.00

AAA

7,134,400

 

10,000

Indiana Health Facility Financing Authority, Hospital Revenue Bonds, Marion General Hospital

7/12 at 100.00

AAA

10,112,500

   Project, Series 2002, 5.250%, 7/01/32 - AMBAC Insured

 

25,000

Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project, Series 2002A,

7/12 at 100.00

AAA

25,559,250

   5.250%, 7/01/33 - MBIA Insured

 

New Albany-Floyd County School Building Corporation, Indiana, First Mortgage Bonds, Series 2002:

2,500

   5.750%, 7/15/17 - FGIC Insured

7/12 at 100.00

AAA

2,822,900

3,810

   5.750%, 7/15/20 - FGIC Insured

7/12 at 100.00

AAA

4,261,104

 

Northern Wells Community School Building Corporation, Wells County, Indiana, First Mortgage Bonds,

Series 2001:

420

   5.250%, 1/15/19 - FGIC Insured

7/12 at 100.00

AAA

445,045

430

   5.250%, 7/15/19 - FGIC Insured

7/12 at 100.00

AAA

455,641

1,675

   5.400%, 7/15/23 - FGIC Insured

7/12 at 100.00

AAA

1,765,584

 

6,960

Valparaiso Middle Schools Building Corporation, Indiana, First Mortgage Refunding Bonds, Series

1/13 at 100.00

AAA

7,043,590

   2002, 5.000%, 7/15/24 - MBIA Insured

 

2,490

Whitley County Middle School Building Corporation, Columbia City, Indiana, First Mortgage Bonds,

7/13 at 100.00

AAA

2,615,571

   Series 2003, 5.000%, 1/15/18 - FSA Insured


Louisiana - 0.7%

 

3,085

New Orleans, Louisiana, General Obligation Refunding Bonds, Series 2002, 5.125%, 9/01/21 - MBIA

9/12 at 100.00

AAA

3,222,221

   Insured


Massachusetts - 3.5%

 

5,000

Massachusetts, General Obligation Bonds, Consolidated Loan, Series 2004B, 5.000%, 8/01/22 - AMBAC

8/14 at 100.00

AAA

5,160,950

   Insured

 

10,000

Massachusetts, Special Obligation Refunding Notes, Federal Highway Grant Anticipation Note Program,

No Opt. Call

Aaa

10,781,400

   Series 2003A, 5.000%, 12/15/13 - FSA Insured


Michigan - 2.5%

 

10,000

Detroit, Michigan, Sewerage Disposal System Revenue Bonds, Series 1999A, 5.750%, 7/01/26

1/10 at 101.00

AAA

11,362,200

   (Pre-refunded to 1/01/10) - FGIC Insured


Missouri - 2.0%

 

8,735

St. Louis, Missouri, Airport Revenue Bonds, Airport Development Program, Series 2001A, 5.250%,

7/11 at 100.00

AAA

8,873,799

   7/01/31 - MBIA Insured


Nebraska - 0.5%

 

Municipal Energy Agency of Nebraska, Power Supply System Revenue Bonds, Series 2003A:

1,000

   5.250%, 4/01/20 - FSA Insured

4/13 at 100.00

AAA

1,066,220

1,000

   5.250%, 4/01/21 - FSA Insured

4/13 at 100.00

AAA

1,059,540


Nevada - 4.2%

 

9,810

Clark County School District, Nevada, General Obligation Bonds, Series 2002C, 5.000%, 6/15/21 -

6/12 at 100.00

AAA

10,121,860

   MBIA Insured

 

8,750

Truckee Meadows Water Authority, Nevada, Water Revenue Bonds, Series 2001A, 5.250%, 7/01/34 - FSA

7/11 at 100.00

AAA

8,931,125

   Insured


New Jersey - 1.1%

 

Bernards Township School District, Somerset County, New Jersey, General Obligation Bonds, Series

2004:

2,345

   5.000%, 1/01/15 - FGIC Insured

1/14 at 100.00

AAA

2,522,704

2,465

   5.000%, 1/01/16 - FGIC Insured

1/14 at 100.00

AAA

2,633,852


New York - 2.2%

 

10,000

Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds, Series

11/12 at 100.00

AAA

10,022,800

   2002A, 5.000%, 11/15/30 - FSA Insured


North Carolina - 0.6%

 

2,435

North Carolina Medical Care Commission, FHA-Insured Mortgage Revenue Bonds, Betsy Johnson Regional

10/13 at 100.00

AAA

2,571,920

   Hospital Project, Series 2003, 5.375%, 10/01/24 - FSA Insured


Oregon - 5.8%

 

4,725

Oregon City School District No. 62, Clackamas County, Oregon, General Obligation Bonds, Series

6/14 at 100.00

AAA

5,089,156

   2004, 5.000%, 6/15/15 - FSA Insured

 

Oregon, General Obligation Veterans Welfare Bonds, Series 2002-82:

9,570

   5.375%, 12/01/31

12/11 at 100.00

AA

9,740,442

4,465

   5.500%, 12/01/42

12/11 at 100.00

AA

4,559,122

 

Oregon Department of Administrative Services, State Lottery Revenue Bonds, Series 2004A:

2,970

   5.000%, 4/01/16 - FSA Insured

4/14 at 100.00

AAA

3,185,117

1,615

   5.000%, 4/01/17 - FSA Insured

4/14 at 100.00

AAA

1,721,348

 

2,085

Salem-Keizer School District No. 24J, Marion County, Oregon, General Obligation Bonds, Series 2004,

6/14 at 100.00

AAA

2,205,638

   5.000%, 6/15/18 - FSA Insured


Pennsylvania - 5.0%

 

4,500

Allegheny County, Pennsylvania, Airport Revenue Refunding Bonds, Pittsburgh International Airport,

No Opt. Call

AAA

4,938,345

   Series 1997A, 5.750%, 1/01/13 (Alternative Minimum Tax) - MBIA Insured

 

5,000

Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of Pennsylvania,

7/08 at 100.00

AAA

5,189,250

   Series 1998, 5.500%, 7/15/38 - MBIA Insured

 

1,000

Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Lycoming College, Series

11/13 at 100.00

AA

1,054,630

   2003-AA2, 5.250%, 11/01/16 - RAAI Insured

 

Philadelphia, Pennsylvania, General Obligation Bonds, Series 2003A:

3,090

   5.250%, 2/15/14 - XLCA Insured

2/13 at 100.00

AAA

3,349,406

1,000

   5.250%, 2/15/15 - XLCA Insured

2/13 at 100.00

AAA

1,075,810

 

Philadelphia Municipal Authority, Pennsylvania, Lease Revenue Bonds, Series 2003B:

3,540

   5.250%, 11/15/16 - FSA Insured

11/13 at 100.00

AAA

3,830,386

2,000

   5.250%, 11/15/18 - FSA Insured

11/13 at 100.00

AAA

2,144,940

 

1,000

State Public School Building Authority, Pennsylvania, Lease Revenue Bonds, Philadelphia School

6/13 at 100.00

AAA

1,021,060

   District Project, Series 2003, 5.000%, 6/01/23 - FSA Insured


South Carolina - 0.8%

 

Greenville, South Carolina, Tax Increment Revenue Improvement Bonds, Series 2003:

1,000

   5.500%, 4/01/17 - MBIA Insured

4/13 at 100.00

AAA

1,102,370

2,300

   5.000%, 4/01/21 - MBIA Insured

4/13 at 100.00

AAA

2,377,487


Tennessee - 9.0%

 

10,000

Memphis and Shelby County Sports Authority Inc., Tennessee, Revenue Bonds, Memphis Arena, Series

11/12 at 100.00

AAA

10,160,000

   2002A, 5.125%, 11/01/28 - AMBAC Insured

 

10,000

Memphis and Shelby County Sports Authority Inc., Tennessee, Revenue Bonds, Memphis Arena, Series

11/12 at 100.00

AAA

10,155,900

   2002B, 5.125%, 11/01/29 - AMBAC Insured

 

Memphis, Tennessee, Sanitary Sewerage System Revenue Bonds, Series 2004:

1,495

   5.000%, 10/01/19 - FSA Insured

10/14 at 100.00

AAA

1,577,240

1,455

   5.000%, 10/01/20 - FSA Insured

10/14 at 100.00

AAA

1,526,484

1,955

   5.000%, 10/01/21 - FSA Insured

10/14 at 100.00

AAA

2,038,009

 

15,195

Tennessee State School Bond Authority, Higher Educational Facilities Second Program Bonds, Series

5/12 at 100.00

AAA

15,580,649

   2002A, 5.250%, 5/01/32 - FSA Insured


Texas - 27.0%

 

3,500

Dallas-Fort Worth International Airport, Texas, Joint Revenue Refunding and Improvement Bonds,

11/11 at 100.00

AAA

3,825,605

   Series 2001A, 5.750%, 11/01/13 (Alternative Minimum Tax) - FGIC Insured

 

10,000

Gainesville Hospital District, Texas, General Obligation Limited Tax Bonds, Series 2002, 5.375%,

8/11 at 100.00

AAA

10,174,900

   8/15/32 - MBIA Insured

 

3,645

Galveston, Texas, General Obligation Refunding Bonds, Series 2001A, 5.250%, 5/01/21 - AMBAC

No Opt. Call

AAA

3,844,965

   Insured

 

Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds, TECO

Project, Series 2003:

2,240

   5.000%, 11/15/16 - MBIA Insured

11/13 at 100.00

AAA

2,351,910

2,355

   5.000%, 11/15/17 - MBIA Insured

11/13 at 100.00

AAA

2,454,357

 

13,000

Houston Area Water Corporation, Texas, Houston Contract Revenue Bonds, Northeast Water

3/12 at 100.00

AAA

13,096,850

   Purification Plant Project, Series 2002, 5.125%, 3/01/32 - FGIC Insured

 

2,500

Houston Higher Education Finance Corporation, Texas, Revenue Bonds, Rice University Project, Series

11/09 at 101.00

AAA

2,545,950

   1999A, 5.375%, 11/15/29

 

4,345

San Antonio, Texas, Water System Senior Lien Revenue Refunding Bonds, Series 2002, 5.500%, 5/15/17 -

5/12 at 100.00

AAA

4,796,619

   FSA Insured

 

9,145

Texas, General Obligation Bonds, Veterans Housing Assistance Program Fund II, Series 2002A-1,

6/12 at 100.00

Aa1

9,401,517

   5.250%, 12/01/22 (Alternative Minimum Tax)

 

6,710

Texas Department of Housing and Community Affairs, Residential Mortgage Revenue Bonds, Series

7/11 at 100.00

AAA

6,768,713

   2001A, 5.350%, 7/01/33 (Alternative Minimum Tax)

 

Texas Public Finance Authority, Revenue Bonds, Texas Southern University Financing System, Series

2002:

3,520

   5.125%, 11/01/20 - MBIA Insured

5/12 at 100.00

Aaa

3,675,760

3,520

   5.125%, 11/01/21 - MBIA Insured

5/12 at 100.00

Aaa

3,657,034

 

8,840

Texas Department of Housing and Community Affairs, Single Family Mortgage Bonds, Series 2002B,

3/12 at 100.00

AAA

9,009,816

   5.550%, 9/01/33 (Alternative Minimum Tax) - MBIA Insured

 

Texas Student Housing Authority, Student Housing Revenue Bonds, Austin, Texas Project, Senior

Series 2001A:

9,400

   5.375%, 1/01/23 - MBIA Insured

1/12 at 102.00

Aaa

9,940,406

11,665

   5.500%, 1/01/33 - MBIA Insured

1/12 at 102.00

Aaa

12,281,962

 

5,000

Texas Water Development Board, Senior Lien State Revolving Fund Revenue Bonds, Series 1999B,

1/10 at 100.00

AAA

5,366,500

   5.250%, 7/15/17

 

Williamson County, Texas, General Obligation Bonds, Series 2002:

3,500

   5.200%, 2/15/21 - FSA Insured

2/12 at 100.00

AAA

3,656,520

3,000

   5.250%, 2/15/22 - FSA Insured

2/12 at 100.00

AAA

3,131,760

7,340

   5.250%, 2/15/23 - FSA Insured

2/12 at 100.00

AAA

7,633,894

5,000

   5.250%, 2/15/25 - FSA Insured

2/12 at 100.00

AAA

5,158,400


Washington - 14.4%

 

7,675

Energy Northwest, Washington, Electric Revenue Refunding Bonds, Nuclear Project 1, Series 2002A,

7/12 at 100.00

AAA

8,432,676

   5.500%, 7/01/15 - MBIA Insured

 

6,600

Energy Northwest, Washington, Electric Revenue Refunding Bonds, Columbia Generating Station, Series

7/12 at 100.00

AAA

7,052,034

   2002B, 5.350%, 7/01/18 - FSA Insured

 

4,200

Lake Washington School District No. 414, King County, Washington, General Obligation Bonds, Series

12/14 at 100.00

AAA

4,470,102

   2004, 5.000%, 12/01/16 - FSA Insured

 

2,500

Port of Seattle, Washington, Revenue Refunding Bonds, Series 2002D, 5.750%, 11/01/15 (Alternative

11/12 at 100.00

AAA

2,766,250

   Minimum Tax) - FGIC Insured

 

2,200

Everett School District No. 2, Snohomish County, Washington, General Obligation Bonds, Series

12/13 at 100.00

AAA

2,319,856

   2003B, 5.000%, 6/01/17 - FSA Insured

 

3,255

Thurston and Pierce Counties School District, Washington, General Obligation Bonds, Yelm Community

6/13 at 100.00

Aaa

3,516,149

   Schools, Series 2003, 5.250%, 12/01/16 - FSA Insured

 

Washington State Economic Development Finance Authority, Wastewater Revenue Bonds, LOTT Project,

Series 2002:

2,000

   5.500%, 6/01/17 - AMBAC Insured

6/12 at 100.00

Aaa

2,206,360

4,325

   5.125%, 6/01/22 - AMBAC Insured

6/12 at 100.00

Aaa

4,466,082

 

15,000

Washington State Healthcare Facilities Authority, Revenue Bonds, Harrison Memorial Hospital, Series

8/13 at 102.00

AAA

14,893,800

   1998, 5.000%, 8/15/28 - AMBAC Insured

 

10,000

Washington State Healthcare Facilities Authority, Revenue Bonds, Children's Hospital and Regional

10/11 at 100.00

Aaa

10,020,100

   Medical Center, Series 2001, 5.125%, 10/01/31 - AMBAC Insured

 

5,170

Whitman County School District No. 267, Pullman, Washington, General Obligation Bonds, Series 2002,

6/12 at 100.00

Aaa

5,337,094

   5.000%, 12/01/20 - FSA Insured


Wisconsin - 3.9%

 

4,805

Wisconsin Housing and Economic Development Authority, Home Ownership Revenue Bonds, Series 2002E,

3/12 at 100.00

AA

4,905,710

   5.250%, 9/01/22 (Alternative Minimum Tax)

 

11,950

Wisconsin, Transportation Revenue Refunding Bonds, Series 2002-1, 5.125%, 7/01/18 - AMBAC Insured

7/12 at 100.00

AAA

12,652,302


$

653,135

Total Long-Term Investments (cost $656,800,759) - 149.9%

681,801,960



Other Assets Less Liabilities - 1.3%

6,154,948


Preferred Shares, at Liquidation Value - (51.2)%

(233,000,000)


Net Assets Applicable to Common Shares - 100%

$454,956,908


  

At least 80% of the Fund's net assets (including net assets applicable to Preferred shares) are invested

in municipal securities that are either covered by Original Issue Insurance, Secondary Market Insurance

or Portfolio Insurance which ensures the timely payment of principal and interest. Up to 20% of the

Fund's net assets (including) net assets applicable to Preferred shares) may be invested in

municipal securities that are (i) either backed by an escrow or trust containing sufficient U.S.

Government or U.S. Government agency securities (also ensuring the timely payment of principal

and interest), or (ii) municipal bonds that are rated, at the time of investment, within the four highest

grades (Baa or BBB or better by Moody's, S&P or Fitch) or unrated but judged to be of comparable

quality by the Adviser.

(1)  

All percentages shown in the Portfolio of Investments are based on net assets applicable to Common

shares.

*  

Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.

There may be other call provisions at varying prices at later dates.

**  

Ratings: Using the higher of Standard & Poor's or Moody's rating.

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for

financial statement and federal income tax purposes are primarily due to timing differences in

recognizing income on taxable market discount securities and timing differences in recognizing

certain gains and losses on security transactions.

At July 31, 2004, the cost of investments were $656,715,549.

Gross unrealized appreciation and gross unrealized depreciation of investments at July 31, 2004 were as follows:


Gross unrealized:

   Appreciation

$   27,310,806

   Depreciation

(2,224,395)


Net unrealized appreciation of investments

$   25,086,411


Forward Swap Contracts outstanding at July 31, 2004:

Swap

Unrealized

Notional

Effective

Termination

Appreciation

Amount

Date*

Date

(Depreciation)


Agreement with JPMorgan dated July 1, 2004, to pay

semi-annually the notional amount multiplied by

5.805% and receive quarterly the notional amount

multiplied by the three-month USD-LIBOR.

$16,800,000

2/02/2005

2/02/2025

$(312,328)

Agreement with Morgan Stanley dated July 15, 2004,

to pay semi-annually the notional amount multiplied

by 5.717% and receive quarterly the notional amount

multiplied by the three-month USD-LIBOR.

9,000,000

1/14/2005

1/14/2035

(54,571)

Agreement with JPMorgan dated July 28, 2004, to

pay quarterly the notional amount multiplied by

4.495% and receive quarterly the notional amount

multiplied by the one-week BMA Municipal Swap Index.

8,500,000

12/13/2004

12/13/2024

(141,495)


$(508,394)


* Effective date represents the date in which both the Fund and counterparty will commence interest settlements on each forward swap contract.

Item 2. Controls and Procedures.

  1. The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")(17 CFR 240.13a-15(b) or 240.15d-15(b)).
  2. There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)         Nuveen Insured Dividend Advantage Municipal Fund        

By (Signature and Title)*          /s/ Jessica R. Droeger--Vice President and Secretary        

Date         09/29/04        

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*         /s/ Gifford R. Zimmerman--Chief Administrative Officer (Principal Executive Officer)        

Date         09/29/04        

By (Signature and Title)*         /s/ Stephen D. Foy--Vice President and Controller (Principal Financial Officer)        

Date         09/29/04        

* Print the name and title of each signing officer under his or her signature.