Wyoming is one of the most beautiful, serene states in the U.S. The Equality State is home to Yellowstone National Park and holds the title of the least populated state in the country. While wide-open land, vast mountain ranges, and plenty of privacy may scare off the faint of heart, they’re what make Wyoming home. But this same natural beauty can leave the state at high risk for natural disasters like wildfires, floods, and winter storms.
The chance of these perils, plus the average distance between Wyoming neighbors, makes protecting your home and property a necessary part of life in the state. Luckily for Wyoming homeowners, there are plenty of options for property protection through a home insurance policy, whether you’re looking for basic dwelling coverage or insurance coverage for your entire Wyoming ranch.
Use Insurify’s comparison tools to see home insurance companies, coverage options, and free quotes side by side. Whether you’re a first-time home insurance shopper or a homeowner seeking savings, Insurify can help find the best Wyoming home insurance policy for you in just minutes.
Overpaying for homeowners insurance in Wyoming?
How to Get Affordable Home Insurance in Wyoming
Life in Wyoming can be unpredictable. With weather ranging from floods to droughts and from excessive heat to winter storms, it can seem like danger is just around the corner in your small quiet town. Your home insurance policy is meant to help protect your home and personal belongings from any peril, predictable or not.
Before you jump into the cheapest home insurance policy you find, it’s important to understand why you need homeowners insurance in Wyoming at all. Home insurance is not required by law, but homeowners often need to show proof of insurance to take out a mortgage for their home. Even if you aren’t required to purchase a homeowners insurance policy, purchasing one will ensure your home and personal belongings are protected in case of perils like natural disasters, vandalism, or theft.
Home insurance rates in Wyoming can get pricey, but there are still ways to secure savings on your Wyoming homeowners insurance. Since traveling across the state can take upwards of eight hours. If you’re looking for multiple insurance products (homeowners insurance, auto insurance, life insurance), talk to your insurance provider about bundling your policies because policyholders can save up to 20 percent on their policies by bundling.
Homeowners insurance quotes in Wyoming by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.
As of 2020, the average cost of homeowners insurance in Wyoming is $1,821 annually, and the median home value is $256,427.
But the cost of your Wyoming home insurance policy is specific to your home, your neighborhood, and your desired coverage. Your homeowners insurance covers the cost of repairs following natural disasters, replaces personal belongings in case of theft, and even provides personal liability insurance and covers medical payments if someone is hurt on your property. That being said, you may want more coverage depending on where you live, especially if your neighborhood is considered high-risk for perils like floods or tornadoes.
This is why the best homeowners insurance policy for you may be different from the best home insurance policy for your neighbor. It’s important to know the various policies and home insurance coverage options that different insurance agencies offer in order to find the best homeowners insurance company for you. Every Wyoming homeowner has different home insurance needs, and the average USAA or Allstate premium may include different coverage than the average State Farm or J.D. Power homeowners insurance premium.
|Average Home Cost in Wyoming||Average Annual Insurance Premium in Wyoming|
Homeowners Insurance Quotes in Wyoming by City
Each Wyoming community offers something different from the others, from the city living in Cheyenne to the views in Grand Teton and the open land between. Just like the differences from one neighborhood to the next, the home insurance rates for each Wyoming town vary, too.
Homeowners insurance rates in Cheyenne, Gillette, and Casper are some of the highest in the state, with policies averaging nearly $1,500 per year in each city. Rates in Laramie and Sheridan are closer to the state’s average, but Rock Springs, Green River, and Evanston offer the lowest home insurance rates in Wyoming.
The average cost of home insurance ranges from town to town because pricing is determined by ZIP code–specific variables like the number of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency.
Rates in Wyoming are still slightly lower than the national average; your specific insurance quote just depends on which town you live in. Here are the most and least expensive ZIP codes in Wyoming for home insurance.
|Most Expensive Real Estate in Wyoming||Cheapest Real Estate in Wyoming|
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What does home insurance cover in Wyoming?
There are several types of home insurance. Specific terms of insurance policies may vary by state, but in general, the standard policy types are as follows:
Mobile Home Form
Mobile Home Insurance in Wyoming
Wyoming homeowners need to know the ins and outs of their home insurance plans, as well as what type of plan is best for them. Nearly 16 percent of Wyoming homeowners live in a manufactured home, and mobile home insurance, or an HO-7 policy, is specifically catered to cover the needs of homeowners residing in manufactured or mobile homes.
While some homeowners may be nervous about the coverage included in an HO-7 policy, these insurance plans provide the same covered losses as special form, or HO-3, policies do. This means that your mobile home insurance policy will cover damages to your home, personal property, and even additional properties listed on the policy, such as a garage or fence. Some insurance providers specialize in manufactured home insurance coverage, but you can purchase a policy through any insurance company. Before committing to an HO-7 policy, compare a few companies’ AM Best ratings to see which is the best homeowners insurance company for you.
Protecting Your Property with Wyoming Flood Insurance
Wyoming has experienced multiple significant floods that left damage across the state. Periodic storms have left massive amounts of damage, but flash flooding and flooding caused by melting snow are common across the state nearly year-round. Flash flooding and river flooding are most common from May to September, and winter storms follow closely behind. But water damage and floods are not covered losses under most home insurance policies.
The best way to make sure your Wyoming home is protected in case of water damage or flooding is a flood insurance policy. The National Flood Insurance Program ensures those located in flood areas can purchase flood insurance policies. You can talk to your insurance agent about purchasing flood insurance through the NFIP, or you can purchase a policy yourself through the NFIP website.
Wyoming Homeowners Insurance FAQs
Does my Wyoming home insurance policy cover my farm?
While a home insurance policy may offer coverage for physical structures on your property, the best way to protect your farm or ranch is with farm and ranch insurance. Many farm and ranch policies will include coverage for your physical structures—and may even cover your home—and provide business liability coverage. Some insurance providers offer both home insurance and farm and ranch insurance, so talk with an insurance agent to see which policy is best for your needs.
Should I add volcano coverage to my Wyoming homeowners insurance policy?
Volcanoes are a covered loss by most home insurance policies, so you likely do not need additional volcano coverage. Still, if volcanic activity leads to an earthquake, landslide, or flood, your home insurance alone will not cover the cost of these damages. To protect your home from earthquakes and floods, you will need additional earthquake and flood policies.
Does my Wyoming home insurance cover damage caused by tornadoes?
Yes, basic home insurance policies include tornado damage as a covered loss. Most windstorm damages are included in home insurance coverage, but if you are concerned about wind damage and want to ensure you are covered, a comprehensive home insurance policy would be best for you. If that doesn’t leave you feeling secure enough about your belongings in case of a windstorm, you can also purchase additional windstorm coverage.
Special Home Insurance Situations in Wyoming
Unique elements of your home may affect homeowners insurance prices. Check out these quotes for some special situations that may impact your home insurance in Wyoming.
Cheapest Home Insurance for Houses Near a Fire Department in Wyoming
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Conclusion: How to find the cheapest home insurance in Wyoming
Life in Wyoming is supposed to be peaceful, and searching for home insurance shouldn’t interrupt that. With Insurify, you can find answers to your home insurance questions, compare homeowners policies, and secure savings so you can get back to enjoying your newly insured home in no time.
Use Insurify to compare home insurance premiums for your property in Wyoming. Our comparison tools make homeowners insurance shopping (and saving) simple so you can be on your way to enjoying your newly insured home in no time.
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