Cheapest Homeowners Insurance in Utah (2024 Rates)

In Utah, homeowners can access various home insurance options tailored to their needs. Farmers stands out as the most budget-friendly choice, while high-value homes can find cheaper insurance with American Family. On the other hand, Nationwide is the most affordable choice if you have poor credit.

In Utah, Farmers offers the cheapest home insurance at $376 per year for $100K in dwelling coverage. Home insurance costs may vary depending on the amount of your dwelling coverage.

Here are the most budget-friendly providers in Utah for varying dwelling coverage limits:

• Cheapest for $100,000: Farmers at $376 per year
• Cheapest for $250,000: Farmers at $633 per year
• Cheapest for $500,000: American Family at $1,131 per year

Compare cheap home insurance and check how it varies depending on dwelling coverage limits using MoneyGeek's detailed table below.

Comparing quotes from several providers is critical to obtaining affordable home insurance in Utah. MoneyGeek’s home insurance calculator helps you get Utah quotes quickly without the necessity of providing personal information right away.

For high-value homes in Utah, American Family offers the most affordable home insurance of $1,505 annually for $750K in dwelling coverage. Higher-value homes may cost more to replace, which may require higher limits. However, higher dwelling coverage limits may cost more.

Here are the top affordable choices for higher limits:

• Cheapest for $750,000: American Family at $1,505 per year
• Cheapest for $1,000,000: American Family at $1,928 per year

Opt for dwelling coverage equal to your home's replacement cost rather than its property value. Look at MoneyGeek's table to see how rates can change for high-value homes.

Farm Bureau offers the cheapest home insurance for new homes in Utah, costing $266 per year for $100K in dwelling coverage. Insuring newer homes tends to be less expensive due to their modern construction technology and materials, adherence to current building codes and decreased likelihood of structural issues.

These are the cheapest home insurance providers for new homes in Utah:

• Cheapest for $100,000: Farm Bureau at $266 per year
• Cheapest for $250,000: Farm Bureau at $436 per year
• Cheapest for $500,000: American Family at $674 per year

Explore MoneyGeek's table for detailed information on how home insurance costs fluctuate for newly constructed homes in Utah.

For those with poor credit scores in Utah, Nationwide offers the most affordable home insurance at $883 annually for $100K in dwelling coverage. Insurance providers consider credit scores as a risk for them based on the policyholder's credit history.

Compare the cheapest premiums for different dwelling coverages in Utah:

• Cheapest for $100,000: Nationwide at $883 per year
• Cheapest for $250,000: American Family at $1,317 per year
• Cheapest for $500,000: American Family at $1,955 per year

The impact of poor credit on home insurance rates is evident when you compare. For instance, in Utah, those with poor credit pay an average of $612 more for home insurance than those with good credit.

In Utah, homeowners who have one claim in the past five years can find the cheapest offer from Farmers, with rates averaging $455 per year for $100K in dwelling coverage. If you have a previous claim, insurers perceive that you are highly likely to make another claim in the future and raise your premiums as a result.

If you have one claim within the past five years, take a look at the cheapest providers for different dwelling coverage limits:

• Cheapest for $100,000: Farmers at $455 per year
• Cheapest for $250,000: Farmers at $767 per year
• Cheapest for $500,000: American Family at $1,397 per year

On average, homeowners who've had two claims in the past five years are charged $146 more annually than those without any claim in the same period. Therefore, it is crucial to maintain a clean claims record to get a lower premium.

Roofing and construction type will affect the cost of home insurance. For instance, in Utah, Farmers offers the lowest annual premium for homes with frame construction and shake-treated roof at $390 for $100K in dwelling coverage. This high cost is usually due to increased risks associated with these materials, like fire or weather damage, that might require more regular insurance claims.

Here are the most economical options in Utah for various coverage levels:

• Cheapest for $100,000: Farmers at $390 per year
• Cheapest for $250,000: Farmers at $657 per year
• Cheapest for $500,000: American Family at $1,045 per year

Compared to a frame-type home with a shake-treated roof, a home with superior construction and a tile roof costs $108 less per year. Investing in top-tier construction and roofing materials offers fiscal benefits in the long term by reducing insurance premiums.

Altering your deductible saves you hundreds of dollars on premiums each year. For example, in Utah, the most affordable home insurance for a $2,000 deductible is from Farmers at a rate of $341 annually. Meanwhile, for a $500 deductible, Farmers' cheapest rate is $395 per year.

Check how Farmers offers the most budget-friendly premiums for varying deductible amounts:

• $2,000 deductible: Farmers at $341 per year
• $1,500 deductible: Farmers at $360 per year
• $1,000 deductible: Farmers at $376 per year
• $500 deductible: Farmers at $395 per year

In home insurance, your deductible is your contribution before the insurance covers the excess. By opting for a $2,000 deductible compared to a $500 one, you can save an average of $164 per year in Utah.

In Utah, bundling your home and auto insurance can help you save. Farmers offer the cheapest rate at $1,696 per year for $100K in dwelling coverage.

Here are the most affordable bundles in the state:

• Farmers at $1,696 per year
• Nationwide at $1,749 per year

Beyond savings, bundling offers the convenience of managing both policies with one insurer. This makes it easier for customers to control their insurance needs, ensuring smoother communication with one contact point. Check out the best Utah insurance bundle to dive deeper into these benefits.

Farmers is the most affordable home insurance provider in all Utah cities, with rates ranging from $380 to $417 per year. Costs can significantly differ between cities due to local building codes, crime levels and weather patterns.

• In Provo, for instance, the cheapest home insurance is from Farmers at an average of $380 annually.
• Contrastingly, Salt Lake City has the most expensive home insurance in the state, with Farmers offering the cheapest rate at $417 per year.

Therefore, shopping around is critical. Insurers may have unique pricing algorithms for different geographic areas, potentially unlocking significant savings.