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Salt Lake City, UT Homeowners Insurance
Salt Lake City is the perfect place for nature lovers, college graduates looking for jobs, and those seeking city life with a small-town feel. With a little bit of something for everyone, it isn’t hard to tell why the Beehive State capital’s population is the highest it’s ever been, with nearly 40 percent of its residents younger than 25 years old. Surrounded by the Wasatch and Oquirrh Mountains, Salt Lake City offers one of the most scenic views out of America’s cities. Salt Lake is a small powerhouse on the rise, welcoming new tech startups each year, housing the Vivint Smart Home Arena (home of the Utah Jazz), and reporting the lowest unemployment rate for metropolitan areas in the U.S. last year.
But life in the Crossroads of the West can get tumultuous. Natural disasters, including landslides, tornadoes, wildfires, earthquakes, severe thunderstorms, and snowstorms, threaten the Salt Lake area. Whether you’re new to the city or have lived in Salt Lake your whole life, it’s important to make sure your home is covered from all the natural disasters and perils that come with life in the valley city.
Insurify is here to help. Using Insurify’s comparison tools, you can see homeowners insurance companies, coverage options, and costs side by side to find the best home insurance policy for your Utah home in just minutes.
Cheapest Home Insurance Companies in Salt Lake City
For homeowners in Salt Lake City, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Salt Lake City. The following are the best insurance rates from carriers that offer homeowners insurance in Salt Lake City.
|Cheapest Companies||Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.|
How to Find Cheap Home Insurance in Salt Lake City
With housing costs in Salt Lake City growing alongside its population, plus the living expenses of city life, new homeowners can find themselves cutting corners and trying to save everywhere they can. But the cost of homeowners insurance doesn’t need to be daunting. It’s still possible to find the best home insurance policy for you without skimping on coverage or breaking the bank.
Although home insurance is not required by law, it is often required to get a mortgage. Even if you aren’t required to purchase a policy, homeowners insurance helps protect your home and personal belongings in the case of perils like natural disasters or theft. Insurify can help you get the most bang for your buck and ensure that you find the best rates for your insurance needs. Even if you’re looking for high coverage (which often comes at a high premium), there are ways to find additional savings on your Utah homeowners insurance policy.
While downtown SLC is walkable and many residents choose biking as their primary transportation, those in the Salt Lake City suburbs are likely paying a pretty penny for a car and an auto insurance policy. The good news is that purchasing a home insurance policy can actually help you save on your car insurance premium. Bundling your insurance products ( home insurance, auto insurance, and even life insurance ) can help you secure savings for all of your policies.
Other measures you can take to lower your home insurance premiums include installing a home security system and ensuring your home is in the best condition possible in case of storms. Ask your local insurance agent which measures you can take to get the best home insurance quote.
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Cheapest Home Insurance in Salt Lake City by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
The average cost of homeowners insurance in Salt Lake City is $848 annually, and the median home value is $440,278.
It isn’t hard to find cheap home insurance in Salt Lake City. But the cost of your home insurance policy is custom to your home, your neighborhood, and your desired coverage. Your homeowners policy is meant to help cover the cost of repairs from natural disasters, replace personal belongings in the case of theft or vandalism, and even provide personal liability insurance to cover medical expenses if someone is hurt on your property. Depending on where you live in the city or suburbs, you may want higher coverage if your neighborhood is more prone to perils like floods or theft.
This is why the best homeowners insurance for you may be different from the best home insurance policy for your neighbor—it’s based on your unique needs. So it’s important to understand your insurance options, as well as the various policies and coverage options that different insurance agencies offer. Each insurance provider offers similar insurance plans, but the average Allstate premium may include different coverage from the average premium at your local mutual insurance company.
|Average Home Cost in Salt Lake City The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.||Average Annual Insurance Premium in Salt Lake City The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.|
Average Annual Home Insurance Premium in Salt Lake City by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cheapest ZIP Codes in Salt Lake City for Home Insurance
Salt Lake City offers some of the higher home insurance rates in Utah, but the average cost of home insurance can still change depending on the Salt Lake neighborhood where you reside. Pricing is determined based on ZIP code–specific variables, including the number of home insurance claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on your annual premiums.
Homeowners located in downtown Salt Lake City and Sandy face some of the highest premiums in the area. Rates in South Jordan, West Valley City, Ogden (just north of Salt Lake), and Provo (south of the city) are some of the cheapest in the area, averaging roughly $50–100 cheaper each year than home insurance rates in downtown.
Rates in Salt Lake City are still much lower than the national average.
Home Insurance Coverage Types in Salt Lake City
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage , liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Utah city level guides, check out these below.
Flooding, Landslides, and Coverage Options in Salt Lake City
Landslides are likely to occur in mountainous areas, especially where earthquakes are present. Unfortunately for Salt Lake City homeowners, landslides are among the most common natural disasters in the area. This, paired with the frequency of winter storms, avalanches, and flooding, can leave Salt Lake City homeowners especially concerned with the safety of their homes.
Most basic policies will not cover these damages. The best bet for homeowners looking for complete coverage from these storms is a comprehensive, or HO-5, home insurance policy paired with a flood insurance policy. Ask your insurance agent to help you purchase a flood policy through the National Flood Insurance Program (NFIP). While these policies come at higher premiums, they will be worth every penny if you live in an area regularly affected by landslides and floods.
Protecting Your Salt Lake City Home from Tornadoes
Salt Lake’s summer storms can usher in windstorms and tornadoes in the blink of an eye. Most basic home insurance policies include wind damage as a covered loss. But if a tornado arises, your basic policy won’t protect your home or belongings in the aftermath of the storm.
If you live in an area prone to tornadoes or severe wind damage and want to make sure you’re covered, ask your insurance carrier about tornado insurance. Tornado insurance policies can get pricey, so if you purchase a plan, make sure your coverage includes everything you need in case of a tornado.
There’s a lot to look out for when searching for home insurance in Salt Lake City. Insurify is here to help. Check out our answers to Salt Lake City homeowners’ most frequently asked home insurance questions.
How to Find the Cheapest Home Insurance in Salt Lake City
Salt Lake City is a great place to call home, but life in Utah ’s capital comes with its fair share of perils. Insurify helps make sure you’re covered so that after you find a good deal and great coverage, you can get back to enjoying your home and the beauty of Salt Lake City in no time.
Use Insurify to compare home insurance quotes for your property in Salt Lake City, Utah. We simplify comparison shopping by giving you multiple home insurance quotes using one simple form.
Frequently Asked Questions
Does my Salt Lake City home insurance cover earthquake damage?
Earthquake damage is not a covered loss by most home insurance. Salt Lake City experiences many small earthquakes per year, but even the smallest quake can damage your home and property. Plus, if an earthquake triggers other things such as avalanches, landslides, or floods, it’s important to make sure you won’t have to cover the cost of damages on your own. The best way to protect your home in the event of an earthquake is with earthquake insurance. And, if you are concerned about the effects of the aftermath of earthquakes, additional policies like flood insurance can help ensure your personal belongings are covered no matter what an earthquake brings.
How can I tell whether my Salt Lake home is protected in the event of a sinkhole?
Problem soil and rock affect the entire state of Utah, with sinkholes becoming more abundant with time. The only way to make sure your home insurance includes subsidence coverage is with sinkhole insurance. There are various types of sinkhole coverage, so talk with your insurance provider to determine the best insurance program for you.
Is avalanche damage included in my home insurance policy?
It depends. Most basic home insurance policies include coverage for any damage to your home caused by the weight of snow, but avalanches can lead to various dangers. If your home is damaged during an avalanche, your claim may not be specifically related to the snow and ice damage included in your policy. For example, for claims filed due to flooding, which can accompany an avalanche, you will need to purchase a separate flood insurance policy.
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