Best Home Insurance Rates In Utah

On average, your neighbors pay $56 a month.

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Compare Homeowners Insurance In Utah

Utah is known for having the greatest snow on earth, as it is home to some of the best ski resorts in the country. The Beehive State is also known for hosting the Sundance Film Festival, and having five national parks, seven national monuments, and seven national forests. Utah also boasts the highest birth rate and youngest population of any state. But, Utah’s propensity for cold, snowy winters and drought makes it a home for homeowners insurance hazards as well.

Average Utah Homeowners Insurance Rates

How much is home insurance in Utah? Utah has some of the lowest average home insurance premiums in the US. The average cost of homeowners insurance in the state of Utah is $634, about half the national average of $1,132. Only Oregon has lower average home insurance rates than Utah.

Utah Average Annual Homeowners Insurance Rates
  2013 2014 2015
Utah Annual Average $609 $634 $673
Utah Price Per Month $51 $53 $56
US Annual Average $1,096 $1,132 $1,173
US Cost Per Month $91 $94 $98
National Rank 49 49 50
Source: Facts + Statistics: Homeowners insurance

The graph below shows the change in average Utah home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Utah homeowners insurance rates increased from $563 in 2011 to $673 in 2015, a jump of $110 dollars, or 19.54 percent.

Utah average homeowners insurance rates

Choosing a homeowners insurance company in Utah should be easier. Actually, it’s already easy. The key to finding the cheapest rates is to get a homeowners insurance quotes comparison in Utah from multiple companies.

Most Popular Utah Home Insurance Companies

Last year, these were the most common home insurance companies reported by QuoteWizard users living in the state of Utah. Out of the 5,561 Utah homeowners that used QuoteWizard to request insurance quotes last year, 182 had no home insurance.

  1. Farmers
  2. Allstate
  3. American Family
  4. Geico
  5. Liberty Mutual
  6. Progressive
  7. AAA
  8. MetLife
  9. Nationwide
  10. 21st Century
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Best Homeowners Insurance Companies in Utah

The above list shows the most popular home insurers in Utah according to our users. But popular doesn’t always mean best.

Our study on the Best Homeowners Insurance Companies focuses on top of the line companies. In no particular order, these companies stand out among the rest:

  1. Amica: Best Overall
  2. MetLife: Best for Bundling
  3. Allstate: Best for Local Agents
  4. Hartford: Best for Seniors
  5. State Farm: Best for Pet Owners
  6. Travelers: Best for Flexible Policies
  7. Nationwide: Best Replacement Coverage
  8. Farmers: Best for Eco-Friendly Homes
  9. Liberty Mutual: Best for Quick and Easy Quotes
  10. Auto Owners Insurance: Best Claims Experience
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Top Utah Home Insurance Company Market Share

Source: National Association of Insurance Commissioners
Rank Company Financial Rating Market Share
1 Farmers Insurance A 8.0%
2 Allstate A+ 6.6%
3 Workers Compensation Fund of Utah A 5.3%
4 Liberty Mutual A 4.8%
5 Travelers Companies A++ 4.2%
6 Nationwide Mutual Group A+ 3.5%
7 GEICO A++ 3.3%
8 AIG A 3.3%
9 Progressive A+ 3.2%
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Utah Home Insurance Rate Factors

How much does a homeowners insurance policy cost in Utah? Insurance companies consider multiple factors when deciding your rates. Some of them center around you and your house. Others are based on the region you live in. 

Your Personal Rate Factors 

Your House 

There are many parts of the house an insurer considers when calculating coverage. 

Your home’s age 

It’s a simple fact that the older your home, the higher your premium will be. As a house ages, the chances of filing a claim increase. The chances of filing a claim go up even more if the house hasn’t been properly maintained.

Nearly 70 percent of homes in Utah were built between 1970 and 2009. While a well-maintained house in this age range can still have issues, they’ll come with lower insurance rates than the Utah homes built before 1970.

Roof quality 

Insurers put a lot of emphasis on your roof. It is one of the most important structural factors in your home. Extreme weather can put a lot of wear and tear on your roof, and it’s the first line of defense from damage to your home’s interior. Insurers charge higher rates to cover homes with old or shoddy roofs.

Utah winters come with immense amounts of snow. The state gets an average of 47 inches of snow yearly. This is far above the national average of 32 inches. Rooftop snow and icicle formations can create ice dams, which can damage your tiles and your gutters.

Metal roofing is an excellent solution. Snow has a very hard time gripping onto smooth metal surfaces. Normally it will slide off before having a chance to gather. Also, it doesn’t take much for a metal roof to heat enough to melt snow as it falls. Regardless of your home’s roof type, make sure it’s within its lifespan.  

Your home’s replacement cost 

A home’s replacement cost is the amount to rebuild a home from the ground up. Your dwelling coverage should equal the home’s replacement cost. And dwelling coverage is the core of a homeowners policy, so replacement cost is a huge part of your final rate.

Keep in mind that the value of the home and its replacement cost are two separate things. A $300,000 home in St. George can cost more to rebuild than a $400,000 home in Salt Lake City. Replacement value only applies to the structure of the house. A home’s size, style, and general build quality determine replacement cost. It doesn’t take the land value into account.

Claims History 

Filing a homeowners claim will usually result in an increase to your homeowners premium. Claims usually remain on your record for five to seven years. Should you file any other claims during this time, your rates will increase a lot more. If you have multiple claims on your record, you may have trouble finding a company to cover you.

Before filing a claim, consider the return. A claim really only makes sense if the dollar amount of the damages is higher your deductible. If the payout is less than or around your deductible amount, you should really consider paying out of pocket. Filing a claim can cost you more in the long run in the form of insurance increases.

Pets 

If you’re a dog owner in Utah, you should know that some insurers consider certain dog breeds to be high risk. In their eyes, owning one of these dogs increases your odds of filing a claim. As a result, they’ll charge more to cover a household with those breeds. In some instances, coverage can be denied. 

Credit Score 

Insurers look at your credit score. Your credit debt, limit, and history are factors considered in your rate. Bottom line: if you have poor credit, you’re going to face higher insurance rates. Fortunately, the average credit score in Utah is 694. This is well above the national average of 682. 

Utah Rate Factors 

Weather 

Weather is one of the home insurance rate factors that is out of your control. Insurers charge higher rates to cover a house in an area with a history of bad weather and natural disasters.

On top of the snow hazards mentioned earlier, Utah also has a history of tornadoes. There have been 129 tornadoes in Utah since 1950. That’s almost two a year.

Your homeowners policy should cover tornadoes, but there are steps you can take to prevent damage. Installing wind-resistant roofing and roof vents will help the home withstand the high winds that come with tornadoes. It is also recommended that you invest in impact-resistant windows and doors. Following these steps lowers your weather risks, and that can earn you an insurance discount.

Property Crime 

Like the weather, living in an area with a high property crime rate results in premium increases for all residents. Property crime rates vary from city to city in Utah. For example, Park City has a property crime rate of 31.51 per 1,000 residents, while Orem has a property crime rate of 21.28 per 1,000 residents. Park City homeowners may face a higher homeowners premium because of this.  

Prevention is a great way to keep your rates as low as possible. Taking measures such as installing a home security system can reduce insurance costs and give you peace of mind. 

Types of Home Insurance Policies 

  • HO-1:Is the most basic coverage for specific named perils like fire, hail, and theft. 
  • HO-2: This covers the same ground as the HO-1 but also risks such as smoke damage and theft
  • HO-3: This is the most commonly used policy because it’s so comprehensive. Unless a policy specifically excludes a peril in writing, the HO-3s takes care of it. It also covers your home structure, attached structures such as decks and garages, liability, and your belongings.
  • HO-5: AHO-5 covers the same as the HO-3 except that it has fewer exclusions. 
  • HO-6: This provides liability and possessions coverage for condos.
  • HO-7: This policy is for manufactured or mobile 
  • HO-8:Vintage houses are usually high-risk because replacement costs tend to be higher due to out-of-date  This coverage is based on the cash value of the home, making its premium more affordable. 

Utah Insurance Department

Website:
Homepage
Insurance Commissioner:
Todd E. Kiser
Insurance Hotline:
(800) 439 - 3805
Office Hours:
Monday - Friday
8:00 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

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