Cheapest Homeowners Insurance in Utah (2024 Rates)


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ByMark Fitzpatrick
Edited byBenjamar Gabawa
ByMark Fitzpatrick
Edited byBenjamar Gabawa

Updated: May 22, 2024

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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.

MoneyGeek Logo IconCheapestHome InsuranceUtah
2024

Why Trust MoneyGeek? MoneyGeek used information from the Utah Insurance Department and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in Utah as of 2024.

Overall Cheapest Homeowners Insurance in Utah

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.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
FarmersAnnual Premium$376
Farm BureauAnnual Premium$464
American FamilyAnnual Premium$512
State FarmAnnual Premium$578
NationwideAnnual Premium$589
Auto-Owners InsuranceAnnual Premium$910
EncompassAnnual Premium$964

Compare Utah Home Insurance Quotes Online

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.

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Jun 17, 2024

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California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000
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User Info
California
26-29
Excellent (750-850)
Home
$500,000
$500
$150,000
$100,000

Cheapest Home Insurance in Utah for High-Value Homes

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.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
American FamilyAnnual Premium$1,505
FarmersAnnual Premium$1,723
Farm BureauAnnual Premium$1,809
State FarmAnnual Premium$2,071
NationwideAnnual Premium$2,883
EncompassAnnual Premium$3,274
Auto-Owners InsuranceAnnual Premium$3,612

Cheapest Home Insurance in Utah for New 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.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Farm BureauAnnual Premium$266
FarmersAnnual Premium$285
NationwideAnnual Premium$347
State FarmAnnual Premium$347
American FamilyAnnual Premium$357
EncompassAnnual Premium$561
Auto-Owners InsuranceAnnual Premium$694

Cheapest Home Insurance in Utah for Low Credit Scores

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.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
NationwideAnnual Premium$883
American FamilyAnnual Premium$885
Farm BureauAnnual Premium$1,009
FarmersAnnual Premium$1,107
State FarmAnnual Premium$1,287
EncompassAnnual Premium$1,451
Auto-Owners InsuranceAnnual Premium$2,054

Cheapest Home Insurance in Utah With a Claims History

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.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
FarmersAnnual Premium$455
Farm BureauAnnual Premium$573
American FamilyAnnual Premium$633
State FarmAnnual Premium$660
NationwideAnnual Premium$762
Auto-Owners InsuranceAnnual Premium$910
EncompassAnnual Premium$1,063

Cheapest Home Insurance in Utah by Home and Roof Materials

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.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
FarmersAnnual Premium$390
American FamilyAnnual Premium$473
State FarmAnnual Premium$578
Farm BureauAnnual Premium$614
NationwideAnnual Premium$720
Auto-Owners InsuranceAnnual Premium$914
EncompassAnnual Premium$995

Cheapest Home Insurance in Utah by Deductible

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.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
FarmersAnnual Premium$341
Farm BureauAnnual Premium$351
American FamilyAnnual Premium$482
NationwideAnnual Premium$515
State FarmAnnual Premium$531
EncompassAnnual Premium$625
Auto-Owners InsuranceAnnual Premium$858

Cheapest Home and Auto Insurance Bundle 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.

FarmersAnnual Premium$1,696
NationwideAnnual Premium$1,749
State FarmAnnual Premium$1,752
Auto-Owners Insurance CoAnnual Premium$2,019
KemperAnnual Premium$2,920
EncompassAnnual Premium

Cheapest Home Insurance in Utah by City

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.

ProvoCheapest CompanyFarmersAnnual Premium$380
Salt Lake CityCheapest CompanyFarmersAnnual Premium$417
West JordanCheapest CompanyFarmersAnnual Premium$411
West Valley CityCheapest CompanyFarmersAnnual Premium$406

About Mark Fitzpatrick


Mark Fitzpatrick headshot

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.