Average Cost of Homeowners Insurance in Idaho (2024)

The average cost of homeowners insurance in Idaho in 2024 is $1,448, which is $975 less than the national average of $2,423.

Aside from the amount of coverage, credit score has the largest impact on Idaho's premiums, with the average premium difference reaching $2,001 depending on the score. If your rates have recently increased, we've also analyzed the cheapest plans in the state, which could help you find more affordable coverage options.

In Idaho, the average annual premium for homeowners insurance with $250K dwelling coverage, $125K personal property and $200K liability coverage is $1,448. It is less than the national average of $2,423.

When protecting your home, it's essential to know how much coverage you need. Adequate insurance covers the rebuild cost of your home and your personal property in case of a total loss.

For example, a policy with $100K in dwelling coverage has an annual premium of $788. If you own a more substantial property and require $500K in dwelling coverage, the premium increases to $2,539.

Premiums for homeowners insurance in Idaho are not one-size-fits-all; they fluctuate significantly across insurance providers. For instance, Mutual of Enumclaw policy is much cheaper than that of Idaho Farm Bureau's despite offering the same level of home protection.

Underwriting differences contribute to premium variations, that's why comparing them is imperative when you are looking for Idaho's best homeowners insurance.

Idaho homeowners with poor credit ratings pay an average annual premium of $2,585 for homeowners insurance, $1,137 more than the state average. Conversely, homeowners with excellent credit only pay $1,239 annually. This difference showcases what impact credit scores have on insurance rates.

While immediate credit score improvement may not be feasible, enhancing it over time can lead to lower rates. In the interim, comparing insurers could be advantageous. Spend less than 15 minutes to see which insurer will save you the most on homeowners insurance in Idaho.

Roof type plays a role in determining homeowners insurance premiums. In Idaho, homes with tile roofs, known for their durability, often see lower insurance costs. Conversely, shake-treated roofs, which are more at risk of damage from severe weather, can increase premiums slightly.

The materials used in home construction also influence insurance rates. Superior construction materials, which are more resistant to common perils like fire, usually encourage more favorable premiums. On the other hand, standard frame construction, which is less resistant, may have higher insurance costs.

Use the drop-downs in the table below to see how premiums change based on your home's materials.

Insurance for a newly constructed home in Idaho costs an average of $868 annually, $580 less than the $1,448 average premium for an existing home. Newer homes benefit from modern materials and adherence to updated building codes, which can lower insurance premiums. The table below displays the premium differences for new versus existing homes.

In Idaho, homeowners with a claim-free status for at least five years can expect an average annual premium of $1,448. However, a single claim within the past five years makes the average premium jump to $1,798. For those with two claims in the same period, the average annual cost increases to $2,012.

For the cities we analyzed, premiums ranged from $1,379 to $1,396 annually. In Boise City, homeowners may pay about $1,396, while Meridian residents might see rates around $1,379.

Location affects premiums due to varying risks like weather, crime and local construction costs. Aside from city-based differences, other factors, such as coverage amount and credit rating, also affect home insurance premiums.

Shopping for home insurance in Idaho can be as smooth as possible if you know how to. Here's how to find the best deal for you.

Idaho homeowners can leverage potential savings by bundling their home and auto insurance policies. On average, the combined cost of individual auto and home insurance decreases premiums by 13%, leading to potential annual savings ranging from $145 to $710. Exploring the best Idaho home and auto bundles is a great way of maximizing these multipolicy discounts.

In Idaho, homeowners can tap into various insurance discounts to reduce their premiums.

• Impact-resistant roofing: Installing materials that withstand severe weather.
• Home safety features: Alarms and deadbolts can lower insurance costs.
• Claims-free history: Long periods without claims can lead to discounts.

Remember, to maximize savings, inquire about all available discounts when obtaining a quote.

Below, you'll find a curated list of tools and information designed to assist homeowners in Idaho with insurance needs:

• Idaho Department of Insurance: Official state resource for insurance regulations.
• Affordable Home Insurance in Idaho: Find cost-effective options for your home.
• Idaho Homeowners Insurance Calculator: Estimate your potential insurance costs.
• High-Risk Home Insurance Coverage: Understand insurance for homes in high-risk areas.
• Top Home Insurance Options in Idaho: Compare the best insurance providers.
• Personal Property Coverage Essentials: Guide to personal property insurance needs.
• Report Insurance Fraud: Online system for reporting insurance fraud.