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In Utah, nicknamed the Beehive State, the price of homeowners insurance won’t necessarily sting you. In fact, the average cost of home insurance in Utah is only $130 a month. Compare that to $237 in California and $391 in Florida.
Among companies operating in Utah, Nationwide and Liberty Mutual are the best home insurers based on overall customer satisfaction rankings from market research company J.D. Power.
Wildfires, floods, and earthquakes are the most common natural disasters in Utah, so a Utah homeowner shopping for insurance should take them into consideration when choosing coverage.
Table of contents
- Best home insurance companies in Utah
- How much is homeowners insurance in Utah?
- What are the cheapest home insurance companies in Utah?
- How much homeowners insurance do you need in Utah?
- What home insurance coverage should you buy in Utah?
- What are some of the biggest risks when owning a home in Utah?
- How can you save money on homeowners insurance in Utah?
- Average home replacement cost in Utah
- Utah homeowners insurance FAQs
Best home insurance companies in Utah
Many companies sell homeowners insurance in Utah, but the best company for you will depend on your home and your needs. The categories below are designed to help you get started in your search.
Best insurer for cheap rates: Stillwater
Average monthly cost: $65
Founded in 2000, Stillwater consists of three insurance companies. Jacksonville, Florida-based Stillwater sells coverage in all 50 states.
Low monthly cost
High rating for company financial strength
High rating from A.M. Best
Relative business newcomer
Poor reviews for its mobile app
No J.D. Power scores
Best large insurer: Nationwide
Average monthly cost: $76
Columbus, Ohio-based Nationwide scored 816 out of a possible 1,000 in J.D. Power’s 2022 U.S. Home Insurance Study. The company issued its first insurance policy in 1926. Now a Fortune 100 company, Nationwide posted $52.9 billion in sales in 2021.
Nearly 100-year business history
High J.D. Power scores
Relatively low monthly costs
Higher-than-typical complaint index
Homeowners insurance not available in every state
Lack of boutique, small experience
Best insurer for high-value homes: Travelers
Average monthly cost: $96
Travelers offers extra coverage for homes with a replacement value of at least $1 million. The New York City-based company, which generated revenue of nearly $36.9 billion in 2022, appears on the Fortune 500.
More than 165 years in business
High ratings for financial strength from A.M. Best
Low number of consumer complaints in Utah
Best for flood and earthquake coverage: Hippo
Average monthly cost: $110
Hippo sells separate coverage for both floods and earthquakes, two of the most common natural disasters in Utah. The Palo Alto, California-based company specializes in home insurance.
Easy to get a quote online
Large menu of discounts
Concierge claims service
Relatively short time in business (founded in 2015)
Can’t file claims online
Troubling complaint record with the Better Business Bureau
Best regional insurance company: Bear River Mutual
Salt Lake City-based Bear River Mutual, established in 1909, sells homeowners insurance only in Utah. Because the company doesn’t cover homes in other states, it doesn’t need to include hurricane and tornado zones in its rate-setting model.
Long business tenure
Impressive financial strength
Owned by policyholders
No Better Business Bureau accreditation
No J.D. Power satisfaction scores
Claims process has drawn complaints
Insurify’s team of data scientists analyze millions of home insurance quotes, and weigh publicly available reviews, claims payout rates, complaint indexes, financial strength scores, company reputations, and proprietary quoting data. Our editorial team applies this insight to inform our unbiased reviews and recommendations.
How much is homeowners insurance in Utah?
The average cost of homeowners insurance in Utah is $130 per month. However, a number of factors can affect this price. These factors include the location and age of your home, the amount of coverage you choose, the size of your deductible, and the availability of discounts.
Learn More: How Much Does Homeowners Insurance Cost?
How your policy choices affect home insurance rates in Utah
The policy choices you make affect your home insurance rates, including which perils are covered and the level of your coverage. Here’s a deeper look at some key components of your insurance policy.
Your policy form
The five homeowners insurance forms offered for owners of single-family, owner-occupied homes are HO-1, HO-2, HO-3, HO-5, and HO-8, according to the Utah Department of Insurance. These forms insure your home and belongings against at least 11 named perils. The more perils your policy covers, the higher your premium will be. Perils are incidents that damage your home or belongings, such as a burglary, fire, or windstorm.
Each of these homeowners insurance forms offers a different type of coverage. For instance, an HO-1 form generally doesn’t cover damage from a falling object, while an HO-3 form covers all but a handful of perils (with floods and earthquakes among those excluded). Not surprisingly, HO-3 is the most common form.
However, before purchasing an HO-3 or any other homeowners insurance policy, make sure you check which perils it covers and doesn’t cover.
Your coverage level
The higher your coverage level, the higher your premiums. Some of the coverages that might affect your premiums include:
Dwelling coverage: This covers the physical structure of your home.
Replacement cost: The more expensive your home is, the more it’ll cost to replace.
Liability coverage: Liability coverage protects you in instances when something happens to someone else on your property and you’re legally liable. Additional risk factors, such as an aggressive dog or a swimming pool, could increase your premiums.
“Don’t assume the policy covers everything. There are coverage limits on many everyday items,” says Matt Child, CEO of the Utah Independent Agents trade group. Some types of personal property have special limits. For example, money, bank notes, and coins are only covered up to $200 on a standard policy, and jewelry, watches, and furs that are stolen only receive $1,500 of coverage.
A deductible is the amount of money, $500 for example, that you’re expected to pay before an insurer contributes for a covered loss.
A low deductible typically results in a higher home insurance premium because you’re expecting the insurer to start paying at an earlier point. And a high deductible typically results in a lower home insurance premium because you’re taking on more of the risk yourself.
How location affects home insurance rates in Utah
Different cities and states, and even different ZIP codes within a city, can yield different home insurance quotes.
Reasons behind these geographical differences include:
Proximity to a fire station
Local crime rates
Frequency of natural disasters, such as earthquakes, floods, and wildfires in Utah
Local real estate values
Home construction costs in the area
You can see this variety by reviewing the average monthly quote for these Utah cities.
|City||Average Monthly Quote|
|Salt Lake City||$118|
|West Valley City||$104|
What are the cheapest home insurance companies in Utah?
Stillwater, State Auto, and Nationwide are the three insurers with the cheapest home insurance quotes in Utah.
At Stillwater, the average monthly quote is $65.
At State Auto, the average monthly quote is $75.
At Nationwide, the average monthly quote is $76.
By comparison, the average monthly quote across the state is $130.
Keep in mind that your coverage needs may result in a higher or lower quote than the average of each insurer listed below.
|Insurance Company||Average Monthly Quote|
How much homeowners insurance do you need in Utah?
If you take out a mortgage on your home, your mortgage company will likely require you to buy a home insurance policy to help safeguard its investment.
That being said, you should understand precisely what your policy covers to avoid unexpected gaps when filing a claim.
“Homeowners insurance has a lot of coverage gaps. For most, a home is their largest expense, and the uncovered loss or damage of the home would destroy them,” Child says.
What home insurance coverage should you buy in Utah?
Standard parts of a home insurance policy in Utah are:
Coverage of your home, garage, and other structures
Coverage of your household items and personal belongings
Reimbursement for costs of temporary living arrangements when your damaged home is being fixed following a covered loss, such as a fire
Personal liability insurance to legally protect you if an insurance claim or lawsuit alleges that you caused injury to another person or damage to another person’s property
Coverage of medical bills for a guest who’s injured on your property
What optional home insurance coverage should you buy in Utah?
Optional coverage — coverage not included in a standard homeowners insurance policy — that you might want to consider if you own a home in Utah includes:
Flood insurance: In many cases, homeowners can buy flood insurance through the National Flood Insurance Program. Flood insurance covers your home and your belongings. In Utah, a policy purchased through the program costs an average of about $735 a year.
Earthquake insurance: Traditional earthquake insurance reimburses you for the value of property damaged or destroyed in a quake. This coverage generally costs $500 to $1,000 a year.
Landslide coverage: Landslides, caused by erosion or water accumulation that disturbs land, typically aren’t covered by a standard home insurance policy or a standard earthquake policy. Therefore, separate coverage could be required to cover damage from a landslide.
Jewelry coverage: A standard homeowners policy generally limits coverage of jewelry to about $1,500. So, if you own jewelry that exceeds this limit, you may want to raise the limits or buy separate coverage.
Water backup coverage: Also known as “escape of water” coverage, this type of coverage pays for water damage caused by failures of sump pumps, sewer and drain backups, and leaks from appliances like dishwashers and washing machines.
Inflation protection endorsement: This policy add-on adjusts your coverage each year to keep pace with inflation. Inflation normally causes the cost of construction materials and labor to rise.
How much home insurance coverage should you have in Utah?
How much coverage you purchase for your Utah home depends on several factors, such as:
The value of your home
The location of your home. For instance, is your home in an area that’s prone to wildfires or earthquakes?
Any optional coverage you select, such as stepped-up insurance for jewelry
There’s no such thing as a cookie-cutter home insurance policy, as each property comes with different risk factors. For example, your home may be in a high-crime area, meaning your premium likely will be higher than the premium you’d pay in a low-crime area.
“Insurance is a generalized product that is meant to cover the broadest risk profile possible. By design, policies are not unique, although the coverage offered can differ from carrier to carrier,” Child says. “A home insurance policy is a foundation of coverage that should be customized to meet the unique coverage needs of the individuals purchasing it.”
To select a policy with the best coverage for the best price, you typically should obtain quotes from at least three home insurance companies.
What are some of the biggest risks when owning a home in Utah?
Three of the biggest risks of owning a home in Utah are:
Wildfires: A 2021 analysis found that 39% of homes in Utah are at risk of burning. The value of homes facing a high fire risk in Utah exceeded $218.9 billion, according to the analysis. Home insurance policies normally cover wildfire damage.
Floods: Research shows that 30,325 properties in Utah have greater than a 26% chance of being severely damaged by floodwaters over the next 30 years. This accounts for 16% of all properties in Utah. Standard home insurance policies don’t cover floods, meaning you have to buy flood coverage through the National Flood Insurance Program or from a private insurer.
Earthquakes: In a typical year, about 20 earthquakes are felt in Utah. The heavily populated Salt Lake City-Provo-Ogden corridor is especially susceptible to earthquakes, due to the region’s proximity to the Wasatch earthquake fault. Standard home insurance policies don’t cover earthquake damage, requiring you to buy separate earthquake coverage.
How can you save money on homeowners insurance in Utah?
Utah homeowners have a number of ways to save money on home insurance. Here are four of them.
Bundle home and auto insurance
Many insurers offer a discount if you buy at least two types of insurance from them, such as home and auto insurance.
Increase your deductible
Bumping up your deductible from $250 to $500, for example, can lead to savings on your premium because you’re assuming more of the up-front risk. Just be sure to never set your deductible above an amount you can afford if you need to file a claim.
Ask about discounts
Home insurers provide an array of discounts. For example, you may be able to lower your home insurance premium by installing smoke detectors and a burglar alarm system.
When you shop around for homeowners insurance, you stand a better chance of saving money on your premium than if you go with the first insurer you come across. Just make sure you’re selecting a policy based on your needs and not solely on price.
Average home replacement cost in Utah
Replacement cost refers to the amount of money it would cost to fix your home based on current construction expenses. When you’re shopping for insurance, consider whether you should choose replacement cost coverage or actual cash value coverage. Actual cash value is the amount of money required to repair your home minus the depreciated value of your property.
This table outlines the cost to rebuild a home in several Utah cities.
|City||Average Cost to Rebuild Home|
|Salt Lake City||$376,117|
|West Valley City||$248,273|
Utah homeowners insurance FAQs
Here are answers to some commonly asked questions about homeowners insurance in Utah.
The average monthly cost of home insurance in Utah is $130. However, that amount almost certainly will go up if you add coverage for common natural disasters, such as floods and earthquakes, which aren’t covered by standard home insurance policies.
In 2021, the average annual premium for home insurance in the U.S. was $1,398, according to the Insurance Information Institute. Insurify data shows the average annual quote for home insurance in Utah is $1,560.
Utah’s home insurance rates “are being significantly impacted” by the risk of wildfires, according to Child. Traditionally, wildfires were primarily a concern in the state’s rural areas, he adds. However, recent evaluations suggest neighborhoods along the Wasatch front and in the St. George area are at higher risk of wildfires than previously thought.
Utah law doesn’t require homeowners insurance. But if you have a mortgage, your lender will likely insist that you buy homeowners insurance. Even if you don’t need to have home insurance, it makes sense to buy coverage to protect your property in case of a disaster and to protect yourself in case you’re sued if a guest is injured on your property.
Traditional types of loss valuation of a homeowners insurance policy are:
Actual cash value: This refers to how much an insurer would pay for your claim according to the depreciated value of your home based on its age and condition.
Replacement cost: This refers to how much it would cost to repair or replace your home according to current prices for materials and labor.
Extended replacement cost: This refers to a policy add-on that increases your replacement cost coverage by 10% to 50%.
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- AM Best. "Stillwater Insurance Company." Accessed February 7, 2023
- AM Best. "AM Best Affirms Credit Ratings of The Travelers Companies, Inc. and Its Main Subsidiaries." Accessed February 7, 2023
- J.D. Power. "P&C Insurers Encounter Digital Growing Pains amid Large Scale Disruption, J.D. Power Finds." Accessed February 7, 2023
- Better Business Bureau. "Hippo Insurance Services." Accessed February 7, 2023