Average Cost of Homeowners Insurance in Wyoming (2024)


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Updated: May 22, 2024

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The average cost of homeowners insurance in Wyoming in 2023 is $1,721. That’s $702 less than the national average of $2,423.

Aside from the amount of coverage you get, credit rating significantly impacts premiums in Wyoming. The difference in premiums can be as much as $1,738, depending on the credit score. If your rates have recently increased, we've also analyzed the cheapest plans in the state to help you find the most reasonable options.

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Rates updated:

Jul 22, 2024

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To establish the average cost of homeowners insurance in Wyoming, MoneyGeek used quotes from various providers for a profile that reflects the average homeowner.

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These rates reflect the average cost of home insurance in Wyoming as of 2024.

410KQuotes Analyzed
 
5Companies Compared
 
4ZIP Codes

Average Cost of Home Insurance in Wyoming by Coverage Amount

In Wyoming, the average homeowners insurance premium for a policy with $250K in dwelling coverage, $125K in personal property coverage and $200K in liability coverage is $1,721. This figure is less than the national average of $2,423.

Selecting how much coverage you need is a key decision. It should be enough to rebuild your home and cover your personal belongings after a total loss.

For example, in Wyoming, a basic policy offering $100K in dwelling coverage costs an average of $904 annually. On the other hand, a more comprehensive policy with $500K in dwelling coverage averages at $3,411 per year.

Average Annual Home Insurance Premium Wyoming by Coverage Amount
$100K Dwelling / $50K Personal Property / $100K LiabilityAverage Annual Premium$904
$250K Dwelling / $125K Personal Property / $200K LiabilityAverage Annual Premium$1,721
$500K Dwelling / $250K Personal Property / $300K LiabilityAverage Annual Premium$3,411
$750K Dwelling / $375K Personal Property / $500K LiabilityAverage Annual Premium$5,037

Average Cost of Home Insurance in Wyoming by Insurer

Homeowners insurance premiums in Wyoming can vary significantly among providers, even for comparable coverage levels. For example, AMCO Insurance offers a policy significantly lower than Allstate's despite offering a similar protection level for your home.

Differences in underwriting can lead to substantial variations in premium costs, highlighting the importance of shopping around when looking for the best homeowners insurance in Wyoming.

Average Annual Home Insurance Premium Wyoming by Provider
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
AMCO InsuranceAnnual Premium$1,079
USAAAnnual Premium$1,473
State FarmAnnual Premium$1,554
Foremost InsuranceAnnual Premium$1,915
AllstateAnnual Premium$2,584

Average Cost of Home Insurance in Wyoming by Credit Score

Wyoming homeowners with poor credit pay an average annual premium of $3,183, $1,462 more than the state average of $1,721. Conversely, those with excellent credit enjoy a lower rate at $1,445 annually. This stark increase demonstrates how credit scores directly influence insurance rates.

While improving your credit score may take time, immediate steps like comparing insurers can lead to savings. In the meantime, you can explore options and find affordable homeowners insurance that fits your budget and needs in less than 15 minutes.

Average Annual Home Insurance Premium in NJ by Credit Rating
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
PoorAnnual Premium$3,183
Below FairAnnual Premium$2,404
FairAnnual Premium$1,988
GoodAnnual Premium$1,721
ExcellentAnnual Premium$1,445

Average Cost of Home Insurance in Wyoming by Construction and Roof Type

The type of roof on your home influences your homeowners insurance premium in Wyoming. Homes with tile roofs, known for their durability, generally see lower insurance costs. On the other hand, shake-treated roofs, which may be more susceptible to damage from severe weather, often result in higher premiums.

Construction materials also play a role in determining insurance rates. Homes built with materials more resistant to common perils, such as fire, can attract lower insurance rates. In contrast, standard frame construction, which is less resistant to certain types of damage, may lead to higher insurance costs.

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

Average Annual Home Insurance in Wyoming by Construction and Roofing Type
Data filtered by:Results filtered by:
Construction:
Construction:Frame
Roof Type:
Roof Type:Composition
$100K Dwelling / $50K Personal Property / $100K LiabilityAnnual Premium$904
$250K Dwelling / $125K Personal Property / $200K LiabilityAnnual Premium$1,721
$500K Dwelling / $250K Personal Property / $300K LiabilityAnnual Premium$3,411
$750K Dwelling / $375K Personal Property / $500K LiabilityAnnual Premium$5,037
$1M Dwelling / $500K Personal Property / $1M LiabilityAnnual Premium$6,707

Average Cost of Home Insurance in Wyoming for Newly Constructed Homes

Insuring a newly constructed home in Wyoming averages $840 annually, significantly lower than the $1,721 average cost for older homes. The table below details how premiums for new construction compare to those for homes built in the earlier years.

Average Annual Home Insurance Premiums: New vs. Existing Construction
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Existing Construction (2000)Annual Premium$1,721
New Construction (2023)Annual Premium$840

Average Cost of Home Insurance in Wyoming by Claims History

In Wyoming, homeowners with a claim-free history for five or more years can expect an average annual premium of $1,721. However, filing just one claim can increase the average premium to $2,103, while two claims within the past five years may raise it to $2,423.

Average Annual Home Insurance in Wyoming by Claims Experience
Data filtered by:Results filtered by:
Coverage:
Coverage:$250K Dwelling / $125K Personal Property / $200K Liability
Claim free for 5+ yearsAnnual Premium$1,721
1 claim in past 5 yearsAnnual Premium$2,103
2 claims in past 5 yearsAnnual Premium$2,423
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WYOMING NATURAL DISASTERS AND HOME INSURANCE

In Wyoming, wildfires and flooding pose the greatest risks to homes. While most homeowners insurance policies cover wildfire damage, flooding is not always covered by home insurance.

How to Shop for Home Insurance in Wyoming

Getting a good deal on homeowners insurance in Wyoming is within reach if you know how certain factors affect your premium rates. Here's how to find the best deal for you.

1
Determine Your Coverage Needs

Assess how much coverage you need for your home and personal belongings.

2
Shop Around

Check different provider prices and compare home insurance quotes to find the best rates and coverage.

3
Consider Bundling

Bundle insurance policies for possible discounts.

4
Look for Discounts

Ask about discounts for security systems and more.

5
Evaluate Deductibles

Choose a deductible that balances cost and coverage.

6
Review Company Reputation

Check insurer's claims experience and customer service. The higher the ratings, the better.

Bundling Home Insurance With Auto Insurance in Wyoming

Homeowners in Wyoming looking to trim their insurance costs may find value in bundling their home and auto insurance policies. Wyoming residents can save up to 10% on their combined multipolicy bundle, which translates to between $237 and $516 of annual savings. It is also worth looking into Wyoming's best home and auto bundles for maximum possible savings.

Home Insurance Discounts in Wyoming

Wyoming residents can lower their homeowners insurance costs with various discounts.

  • Claims-Free Discount: Savings for homeowners without recent insurance claims.
  • Protective Devices Discount: Discount for homes with security systems or smoke detectors.
  • Loyalty Discount: Reduced rates for long-term customers with the same insurer.

Remember, to maximize your discounts, inquire about them when obtaining a quote.

FAQ: Homeowners Insurance in Wyoming

On average, what is the cheapest insurer in Wyoming?
Is wildfire damage in Wyoming covered by homeowners insurance?
Is flood damage in Wyoming covered by homeowners insurance?
What is the biggest factor that impacts the price of homeowners insurance in Wyoming?
How much can I save bundling my home and auto insurance in Wyoming?

Additional Resources for Homeowners Insurance in Wyoming

Here's a curated list of tools and information to help you navigate insurance options in the Cowboy State:

About Mark Fitzpatrick


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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.