Average Costs and Cheapest Homeowners Insurance Companies in Utah

Your specific needs and situation determine the cost of your home insurance. In Utah, Farmers is the cheapest option for expensive homes, newer homes, pool owners and homeowners with poor credit. For this analysis, MoneyGeek analyzed thousands of quotes from various insurance providers to find average rates in Utah to find you the cheapest policy.

If you’re looking to balance affordability with a strong service experience, MoneyGeek also scored the best home insurance companies in Utah.

MoneyGeek determined the cheapest home insurer for various dwelling coverages in Utah by gathering thousands of quotes and calculating average rates. We found Farmers, with an average annual premium of $432, is the best option for those who want cheap homeowners insurance in Utah for baseline dwelling coverage of $250,000.

Farmers is also the cheapest company in Utah for other common dwelling coverage amounts:

• Cheapest for $100,000: Farmers
• Cheapest for $250,000: Farmers
• Cheapest for $500,000: Farmers

Keep in mind that the replacement cost of your home determines how much dwelling coverage you need. Toggle the table below to find insurance costs for various dwelling coverage levels.

Your home insurance costs can differ depending on the dwelling coverage amount you purchase. A higher coverage level tends to be more expensive since your insurer is protecting you against more damage.

The average cost for baseline dwelling homeowners insurance coverage of $250,000 in Utah is $1,081 per year. If you choose a lower dwelling coverage of $100,000, you pay around $666 per year. Meanwhile, buying a policy for $3,000,000 dwelling coverage costs you roughly $13,898 per year.

The amount of dwelling coverage you choose is the most impactful factor for your home insurance rate.

The policy premium of your home insurance can depend on individual and locational factors. Important considerations to determine your rate can include your home’s age, your credit score and your proximity to a local fire station, among other factors.

You can adjust your dwelling coverage limits, deductible and other limits to see how the average price of homeowners insurance in Utah changes depending on your needs.

To find the most affordable homeowners insurance companies in Utah for different dwelling coverages, MoneyGeek collected and averaged thousands of quotes from various providers. We found that the companies with the cheapest homeowners insurance in Utah for an expensive home with dwelling coverage of $2,000,000 are, on average:

• Farmers: $2,277 per year
• American Family: $3,032 per year

Rates can vary greatly for high-value, expensive homes by preferred dwelling coverage and insurer. That’s why it’s important to gather and compare home insurance quotes to find the cheapest policy for your needs.

MoneyGeek collected thousands of quotes from different providers in Utah using a sample home built in 2015 to find the most affordable insurance for newer homes with $250,000 dwelling coverage.

On average, the best companies for those who want cheap homeowners insurance in Utah for a newer home with baseline dwelling coverage of $250,000 are:

• Farmers: $382 per year
• American Family: $417 per year

The age of your home can impact the cost of your premium. In Utah, newer homes cost around $255 less annually to insure than those constructed in 2000.

But, the numbers for homes with a build date in 2000 differ from the first section due to a different ZIP code collection process.

In Utah, the difference in insurance costs between a newly built home and an older home is roughly $255 per year. Policyholders with newer homes pay an average of $539 per year, while those with older homes pay an average annual rate of $794.

It may cost more to insure an older home because, for example, it may have materials that are less resistant to the weather. Plus, the years of wear and tear on an older home can increase the risk of damage, such as from a burst pipe or leaky roof. For these reasons, an insurer may charge you a higher rate to offset the risks.

MoneyGeek collected and averaged thousands of quotes from various insurers in Utah to determine the most affordable companies for homeowners with pools.

On average, the cheapest companies in Utah for a home with a pool and baseline dwelling coverage of $250,000 are:

• Farmers: $464 per year
• American Family: $625 per year

Since insurers may consider pools a liability hazard, you need additional liability coverage to protect yourself against pool-related accidents and injuries. As a result, insurers tend to charge a higher premium if you have a pool.

Having a pool on your property could increase the cost of home insurance. The average rate of homeowners insurance in Utah for those with a pool and baseline dwelling coverage of $250,000 is $795 per year. On the other hand, homeowners without a pool pay nearly the same amount at around $794 per year for a policy with the same coverage limit.

MoneyGeek analyzed thousands of quotes to help homeowners in Utah with a poor credit score find the most affordable options.

The companies offering, on average, the cheapest homeowners insurance in Utah to people with a poor credit score and baseline dwelling coverage of $250,000 are:

• Farmers: $1,384 per year
• Nationwide: $1,406 per year

In most states, insurers use your credit history when determining the cost of homeowners insurance. Those with poor credit are more likely to pay higher premiums than those with good to excellent credit because a poor credit score may mean you have been late on payments in the past or gone to collections for non-payment, making you a higher risk to insure.

Your credit background can have a significant impact on the cost of your home insurance premium. In Utah, homeowners with a good credit score pay an average of $1,073 per year for insurance. That is roughly $794 less than the average cost of homeowners insurance for those with poor credit, around $1,867 per year.

The cost of homeowners insurance and the cheapest insurer can differ based on where you live in Utah. MoneyGeek found that the most affordable company in Salt Lake City for baseline dwelling coverage of $250,000 is Farmers. Its policies are around $649 less than the city’s average rates across all companies.

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 its construction materials, and whether it has additions like solar panels, a swimming pool or a home security system. With these details, they can come up with a binding home insurance quote estimate for you.

If you want to get an anonymous homeowners insurance estimate, use MoneyGeek’s Utah home insurance calculator. Our tool provides estimated costs based on thousands of compiled quotes from different insurers.

MoneyGeek analyzed homeowners insurance premiums from nine 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.