Insurance
Idaho Homeowners Insurance Calculator: Free Cost Estimator (2024)
Updated: May 22, 2024
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MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
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Rates updated:
Jul 26, 2024
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According to MoneyGeek’s research, American Family is the overall cheapest homeowners insurance provider in Idaho. We reviewed home insurance companies in the state across various homeowner profiles to ensure you find the most suitable coverage for your needs at the best price.
For homeowners looking for a company that balances cost with quality customer service, MoneyGeek also determined the best home insurance companies in Idaho for different homes and buyers.
How to Estimate the Cost of Your Homeowners Insurance Policy in Idaho
Your homeowners insurance estimate in Idaho depends on your needs and several factors, including the rebuilding cost, age, and other features of your home. Other primary factors that influence your premium are your credit history, location and the policy’s coverage amount.
You may estimate your costs based on your profile using MoneyGeek’s homeowners insurance calculator for Idaho.
Idaho
Homeowners insurance rates vary greatly according to your location in Idaho. If there is a high risk of crime, theft or fires in your area, you may have a higher home insurance premium since there is an increased chance of your home getting damaged.
Dwelling Coverage
How much money do you need to reconstruct your home if it is destroyed? That is your dwelling coverage amount. Insurance providers estimate the dwelling coverage of your policy based on various factors, including the age and size of your home. Homeowners can also find out their ideal dwelling coverage through a professional appraiser.
The average baseline dwelling coverage for Idaho is $250,000.
Deductible
Once you file a claim on your homeowners insurance policy, the amount you pay out of pocket before the insurer settles your claim is the deductible.
For instance, if your policy has a $2,000 deductible, you will need to pay this amount before the insurer settles the balance of your claim.
Generally, you pay a higher premium for a policy with a low deductible and can save money with a higher deductible.
Liability
Liability insurance covers the damage to other people and their belongings if this takes place in your home because of negligence. It includes replacement costs, medical expenses, legal costs, death benefits and suffering expenses.
MoneyGeek advises homeowners to purchase enough liability coverage for their homes, given their assets. You can significantly increase your coverage limit by only paying a few dollars more monthly.
Personal Property
Personal property coverage protects the items within your home, including clothing, furniture, artwork and electronics.
Homeowners insurance policies cost more if you choose a high personal property limit. However, it pays to choose enough coverage for your belongings.
You can use the calculator below to estimate your personal property coverage.
Credit Score
Insurance companies in Idaho determine home insurance rates after considering your credit score.
Homeowners with poor credit are considered high risk since they may be more likely to file a claim, translating to a higher premium.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
clothing & accessories
Clothes, shoes, bags, belts, hats, gloves, etc.
Average Cost of Home Insurance in Idaho
MoneyGeek’s analysis shows that an Idaho homeowners insurance policy is relatively cheap compared to other states, almost half the national average. The average baseline dwelling coverage is $250K in Idaho, and the average cost per year is $1,278.
The following table highlights the average home insurance costs in Idaho by dwelling coverage. If you need a higher or lower coverage level than the baseline amount, you can use it to estimate how much you are likely to pay.
Average Annual Premium in Idaho for Homeowners Insurance
| $100,000 | Average Annual Premium$1,329 |
| $250,000 | Average Annual Premium$1,761 |
| $500,000 | Average Annual Premium$3,932 |
| $750,000 | Average Annual Premium$5,584 |
| $1,000,000 | Average Annual Premium$7,423 |
| $2,000,000 | Average Annual Premium$15,548 |
| $3,000,000 | Average Annual Premium$23,833 |
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The replacement cost or dwelling coverage is an essential component of a homeowners policy that pays for reconstructing/repairing your home if it gets damaged or destroyed. MoneyGeek recommends getting the right dwelling coverage amount on your policy to ensure that you have enough coverage in case of an unexpected loss.
When determining your dwelling coverage, insurers consider factors like the shape, size and age of your home. You can determine your ideal amount through your insurer or a real estate appraiser.
Note that a policy with insufficient dwelling coverage may inconvenience you and require high out-of-pocket costs if you incur more damage than your policy limit covers.
Frequently Asked Questions About Home Insurance in Idaho
When buying home insurance in Idaho, remember that insurers consider several factors to determine your rate. MoneyGeek answered some frequently asked questions to provide you with more information about home insurance in the state.
How much does homeowners insurance cost in Idaho?
For $250,000 of dwelling coverage, a home insurance policy in Idaho costs an average of $1,278 per year. Actual rates differ based on various factors, including your location and credit score.
How do I know how much dwelling coverage to get?
Idaho has an average dwelling coverage of $250,000. However, you may need a different limit based on the features of your home. Your insurer or professional assessor can help you determine your required coverage amount.
Insurance
Methodology
To determine the average cost of homeowners insurance in Idaho, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance.
This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius from a fire department
- Assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
About Mark Fitzpatrick
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.