In today’s complicated world, homeownership is a major responsibility. Not only do owners have to plan for property maintenance, but they must also keep the right amount of home insurance to protect them from storm damage, fires and theft. MoneyGeek developed a unique ranking metric to help you find the right insurance coverage at the cheapest rates from the top companies in Utah for different kinds of properties — including those with a pool, high-value homes and those with bad credit or rebuilding credit.
The Best Homeowners Insurance Companies and Cheapest Quotes in Utah for 2021
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The 5 Best Homeowners Insurance Companies in Utah
If you want to find the best home insurance in Utah, factors like the cost of your premiums, the coverage options, the quality of service and the company’s ability to pay claims are some of the most important factors to look over.
To assist you in choosing the best homeowners insurance in Utah, MoneyGeek has ranked the top five insurance providers in Utah based on important factors like cost, J.D. Power’s customer satisfaction scores and the ability to pay claims according to AM Best’s financial stability ratings.
1
FarmersScore: 94
5/5
Affordability
4.6/5
User Satisfaction
4/5
Financial Stability
With Farmers, you can get coverage for dwellings, separate structures, personal belongings and loss of use. Multiple policies can be combined at a discount and additional coverage can be purchased for eco rebuild and identity protection. Their large network of local agents can provide a personalized experience and the mobile app can be used to make claims and pay bills.
Read MoneyGeek's Farmers Home Insurance Review2
USAAScore: 93
4.3/5
Affordability
5/5
User Satisfaction
5/5
Financial Stability
3
NationwideScore: 92
4.7/5
Affordability
4.3/5
User Satisfaction
4.5/5
Financial Stability
Nationwide offers coverage for dwellings, personal property, loss of use, personal liability and medical payments. Additional coverage can be purchased for replacement costs, identity theft and valuables. The company offers claims-free and home renovation discounts. Technology features include a mobile app, a rate calculator and the ability to pay bills and make claims online.
Read MoneyGeek's Nationwide Home Insurance Review4
TravelersScore: 91
4.8/5
Affordability
3.9/5
User Satisfaction
5/5
Financial Stability
It is to get a quote from Travelers using the detailed online quoting system which automatically researches relevant information about properties. Standard coverage can include dwellings, personal property, liability and loss of use. Extended coverage can include valuables, replacement costs and green home coverage. Claims can be made on the website and their mobile app.
Read MoneyGeek's Travelers Home Insurance Review5
AllstateScore: 91
4.8/5
Affordability
4.2/5
User Satisfaction
4.5/5
Financial Stability
Allstate offers standard coverage, which can be extended to include liability protection and coverage for personal property. There are discounts for safe homes and multi-policy bundles. They have a large network of local agents and tech features like online bill payments, a mobile app and a useful common and costly claims tool.
Read MoneyGeek's Allstate Home Insurance ReviewWhat Is the Average Cost of Homeowners Insurance in Utah?
$0
$0
home insurance is 0.0% more than the average.
The average cost of home insurance in Utah is significantly less than the national average. For a baseline dwelling coverage amount of $250,000, the average comes out to roughly $1,081 per year. Compared with the national average of $2,103, this is $1,022 or 48.6% cheaper on average. Risk profiles for individual customers finally determine their personalized rates.
Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Utah
The premium costs of your home insurance can depend on individual and locational factors. Important considerations to determine your costs can include your home’s age, your credit score and your proximity to a local fire station, among other factors.
Home Insurance Calculator
State
Utah
Dwelling Coverage
$250,000
Deductible
$500
Liability
$300,000
Personal Property
$50,000
Credit Score
Excellent
low end
on average
high end
These are annual estimates. Get a personalized quote to determine your costs.
The Cheapest Homeowners Insurance Quotes in Utah
If you want cheap homeowners insurance in Utah, your most affordable option might be Farmers. Typically, a Farmers policy would cost you an average of $432 a year for a dwelling coverage baseline amount of $250,000. This rate is about $649, or 60% cheaper than the state average. In order to find the right policy for your needs, compare home insurance quotes from multiple providers.
Cheapest Homeowners Insurance by Dwelling Coverage
Dwelling Coverage:
$250,000
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- CompanyAmountper year
- 1. Farmers$432
- 2. Travelers$678
- 3. American Family$683
- 4. Allstate$768
- 5. Nationwide$774
Best Cheap Homeowners Insurance Companies for Expensive Homes
If you own an expensive home in Utah, it can make complete sense to choose a home insurance plan with the right coverage level for complete peace of mind. For a $2 million home in Utah, your best option might be a policy from Farmers. You can expect to pay an average amount of $2,277 a year for a Farmers policy. Policies from competing providers can cost more than three times as much in some cases.
Cheapest Homeowners Insurance Companies for High-Value Homes
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- CompanyAmountper year
- 1. Farmers$2,277
- 2. American Family$3,032
- 3. USAA$3,096
- 4. Allstate$4,401
- 5. State Farm$5,213
Best Homeowners Insurance Companies if You Have a Pool
You might need additional coverage if your home in Utah has a pool. Your costs can also increase accordingly. For an average dwelling cost of $250,000, the most affordable option can be a Farmers’ policy, coming in at an average cost of $464 per year.
Cheapest Homeowners Insurance for Pool Home
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- CompanyAmountper year
- 1. Farmers$464
- 2. American Family$625
- 3. Travelers$664
- 4. Allstate$694
- 5. Nationwide$768
Cheapest Home Insurance in Utah if You Have Poor Credit
Your credit score can have an impact on your insurance premium costs in Utah. Poor credit usually attracts higher premiums while improving your credit score can bring premium costs down. If you have poor credit in Utah, the most affordable home insurance option might be a policy from Farmers with an average cost of $1,384 for a baseline dwelling coverage amount of $250,000.
Cheapest Homeowners Insurance for Poor Credit
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- CompanyAmountper year
- 1. Farmers$1,384
- 2. Nationwide$1,406
- 3. American Family$1,415
- 4. Travelers$1,522
- 5. Allstate$1,530
How to Get Homeowners Insurance Quotes in Utah
To process your quote, an insurance provider would need basic information like your name, address, phone number and social security number. They may also need information about the age and value of your home, details about construction materials, and details of additions like solar panels, swimming pools and home security systems. With these details, they can come up with a personalized quote for you.
Compare Home Insurance Rates
Ensure you're getting the best rate for your home insurance. Compare quotes from the top insurance companies.
Other Considerations for Homeowners Insurance in Utah
Insurance companies can consider other factors like crime stats, weather trends and home values to determine your insurance costs. For example, Utah ranked 23rd in the country according to property crime rate per 100,000 with 7,368 violent crimes and 75,156 property crimes according to a 2018 FBI study. In terms of home values, Utah ranks 8th with an average home typically costing about $348,376.
Getting coverage in your home insurance for potential damage caused by hazardous weather conditions can be an important part of your emergency preparedness plan.
Do You Need Fire Insurance in Utah?
Fire insurance can be a smart idea for your home in Utah. According to a 2020 study, a total of 136,000 properties, 14% of all properties, in Utah are at “high to extreme risk? From wildfires. These can cause substantial damage to homes and getting the appropriate insurance coverage can help you avoid financial jeopardy if disaster strikes.
Do You Need Flood Insurance in Utah?
Several homes in Utah can be vulnerable to flood damage. About 8.4% of all Utah homes, a total of 113.100 homes, are at risk. Flood insurance in Utah can, therefore, be a good idea. Some companies might not provide flood insurance. In such cases, look for government-run National Flood Insurance Program (NFIP) policies if your community qualifies. You can also consider an incremental private policy for higher coverage amounts.
Methodology
MoneyGeek analyzed homeowners insurance premiums from 16 of the top insurance companies in Utah that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Utah. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.
About the Author
sources
- AM Best. "Rating." Accessed July 27, 2020.
- Business Insider. "Here's the typical home price in every state — and what you can actually get for that money." Accessed July 10, 2020.
- FBI. "2018 Crime in the United States." Accessed July 10, 2020.
- First Street Foundation. "The First National Flood Risk Assessment Defining America’s Growing Risk." Accessed July 10, 2020.
- Flood Factor. "Find Your Home’s Flood Factor." Accessed July 10, 2020.
- Insurance Information Institute. "Facts + Statistics: Hail." Accessed July 10, 2020.
- Insurance Information Institute. "Facts + Statistics: Hurricanes." Accessed July 10, 2020.
- Insurance Information Institute. "Facts + Statistics: Wildfires." Accessed July 10, 2020.
- J.D. Power. "Homeowners’ Satisfaction with Property Claims Reaches Record High as Insurers Focus on Relationship Management, J.D. Power Finds." Accessed July 27, 2020.
- Verisk. "Wildfire Risk Analysis." Accessed July 10, 2020.