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If peril strikes, homeowners insurance is there to protect you from financial hardship. Here, we'll highlight the best homeowners insurance in Utah, identify the cheapest policies in the state, and offer details worth considering as you choose a Utah home insurance policy.
For cheap homeowners insurance, Farmers offers the cheapest overall coverage in the state of Utah, with an average annual rate of $398.
These insurers offer the next-lowest overall rates in Utah:
New homes are full of features unlikely to break down any time soon, and as insurance companies see it, this results in fewer claims. The projected savings get passed on to the homeowner through lower insurance premiums. These home insurance providers offer the lowest rates for newly built homes in Utah:
Older homes are prone to problems like shifting foundations and leaky basements. These issues lead to insurance claims. And that's why insurers tend to charge more to insure an older home. However, in Utah, these four companies offer the lowest rates for older homes:
For a Utah homeowner who has made a claim, these four insurers aim to keep rates low -- even after a claim has been submitted:
At an average statewide cost of $863, Utah residents pay 52% less than the average national rate of $1,788.
Average Rate Category | Utah | National Average |
---|---|---|
Overall | $863 | $1,788 |
New home construction | $470 | $988 |
Older homes | $832 | $1,748 |
After making a claim | $977 | $1,984 |
The best homeowners insurance in Utah provides the coverage a homeowner needs at a price they can afford.
The best homeowners insurance companies offer a host of coverage options, from basic to comprehensive policies with all the bells and whistles. Choosing the right option is a matter of a homeowner deciding what needs to be protected. For example, if a homeowner has a recording studio in their home, they'll need to make sure their policy will cover it in the event of loss. The same is true for things like high-end appliances and other expensive home upgrades.
A basic policy is always the least expensive option, although it may not fully cover all losses. Homeowners can save money in the long run by fully considering the level of coverage they need before shopping for the best homeowners insurance in Utah. Even if their premium is a bit higher, the savings will be apparent when they file a claim and it's fully covered.
An insurance deductible is the portion a homeowner must pay toward a repair or replacement. Let's say there's a small fire that causes $15,000 in damage. If the homeowner has a $1,000 deductible, they're responsible for paying the first $1,000 toward repairs. The insurance company then covers the remaining $14,000. It's important to note that the lower a homeowner's deductible is, the higher their premium will be.
One of the easiest ways to score cheap homeowners insurance in Utah is to ask about policy discounts. Nearly all insurers offer an array of home insurance discounts, covering everything from homes that have new electrical systems to situations where the homeowner bundles insurance products.
Being familiar with the most common Utah home insurance claims can help a homeowner shop for coverage that will meet their needs.
Wind and hail claims are common in the state. It takes only moments for hail to damage windows, roofs, and siding.
Lightning strikes are among the most common claims nationwide, and Utah is no exception. Whether a fire is started by carelessness, accident, or a lightning strike, it's important to have coverage when lightning strikes and fire lead to damage.
Although parts of Utah are relatively dry, other areas of the state get up to 50 inches of rain each year. All that rain can lead to issues like leaky roofs, flooded basements, dry rot, and a resulting loss of personal property.
The best homeowners insurance in Utah can be summed up as "a comprehensive level of coverage at a low price." The easiest way to land a low price is to take advantage of all available discounts. Here, we highlight coverage options and describe how discounts can reduce premiums.
Here's a rundown of the eight types of homeowners insurance:
A comprehensive policy may also include coverage for high-end features like home theaters, electronic equipment, or a wine cellar.
Claiming as many discounts as possible is a great way to land low-cost insurance in Utah. Here are some of the most common discounts:
When an insurance company determines rates, here's some of what it takes into account:
The five cheapest cities in Utah for homeowners insurance are:
City Name | Average Home Insurance Rate |
---|---|
Washington | $796 |
St. George | $796 |
Lehi | $799 |
Saratoga Springs | $806 |
Cedar City | $810 |
And here are the five most expensive cities:
City Name | Average Home Insurance Rate |
---|---|
Lapoint | $917 |
Monticello | $917 |
Bonanza | $917 |
Corinne | $916 |
Fayette | $915 |
Utah homeowners insurance rates are relatively inexpensive as compared to national rates. This makes it easier for the average homeowner to purchase a level of coverage that will fully protect them in the event of peril.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
The data found on this page is a combination of publicly available quote data obtained directly from the carrier as well as insurance rate data from Quadrant Information Services. These rates were publicly sourced from the top ten (10) to fifteen (15) carrier markets, within each state, based on annual written premium and should be used for comparative purposes only -- your own quotes may be different.