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Best homeowners insurance in Idaho of 2022
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For a $250k house, the average cost for homeowners insurance in the United States is $1,477. In Idaho, it’s considerably less at $936. Currently, almost 70% of Idahoans are homeowners, leading to $2.8 billion in insurance premiums each year and $1.8 billion in claims.
Though Idaho isn’t as prone to as many natural disasters as some other states, this doesn’t mean homeowners shouldn’t know what they need or what to look out for when choosing a policy. Homes are often people’s most valuable asset, and it is for this reason alone that you should always buy the best homeowners insurance possible. You never know when you’ll need it or what you’ll need it for.
The top home insurance in companies in Idaho
To find the best homeowners insurance in Idaho, we looked first at those who are writing the most policies in the state. These companies have agents with the most feet-on-the-ground knowledge of Idaho weather and other perils. Then we looked at coverage options, discounts, rates and consumer ratings organizations such as J.D. Power. We also looked at 2021 rate data acquired from Quadrant Information Services. Lastly, we looked at the company websites to see who was making it easiest for its customers to handle their insurance needs.
|Home insurance company||Average annual premium for $250K dwelling||J.D. Power score|
|Farm Bureau Mutual||$455||Not rated|
Allstate scores well for customer service with organizations like J.D. Power. Allstate’s discounts come in several varities and can save you a significant amount of money on your premium, especially if you bundle homeowner and auto insurance. Like State Farm, Allstate has a user-friendly website that makes it easy to handle your insurance tasks online. The company has an extensive list of insurance types: in addition to homeowners insurance, Allstate offers renters, condo, auto, motorcycle, business, life, pet and more.
With headquarters in Pocatello, Farm Bureau Mutual of Idaho knows the state well. The company prides itself on personal, hands-on service, so if you’d like to be able to develop a relationship with an agent, it’s a good option. The Farm Bureau website isn’t as comprehensive as some of the larger companies, but you can pay your bill or file a claim online. Farm Bureau also offers auto, motorcycle, RV, renters, life, umbrella, business and crop insurance.
Farmers scores in the middle of the pack in just about every ranking we reviewed. Its customer service is rated middle of the road and its financial stability is also good—even if it’s not as high as the others on our list. Farmers has a nice website, with a mobile app that can help you manage your policies quickly and conveniently, and it offers three levels of homeowners insurance: standard, enhanced and premier, depending on where you are financially and what level of coverage you’d like. In addition to home insurance, it sells policies for auto, life, business, recreational, motorcycle, umbrella, pet and renters.
State Farm has an excellent website. It’s easy to get an online quote, pay your bills and manage your policy, and the company’s Simple Insights blog is worth looking at even if you don’t buy your policy from this provider. State Farm offers a variety of home and property, life, health and vehicle policies.
USAA is an unusual insurance company in that it only services current or retired military as well as their eligible family members. However, if this describes you or your family, you’re in luck. USAA is consistently ranked as the top insurance provider by JD Power, only to be disqualified from winning each year because of its eligibility requirements. USAA has a lack of discounts, but the ones it does offer are available to many people. For example, if you own a car and choose USAA to insure it, you’ll receive a bundling discount, worth up to 10% of your premium.
Average homeowners insurance cost in Idaho
Although every insurer has its own proprietary formula for determining premiums, in general, Idaho ranks low across the board in premium cost. Currently the average cost of insurance in the United States is $1,477, but in Idaho it is only $936, making it 37% cheaper. It’s even cheaper than neighboring states Montana and Washington. Montana currently pays about $1,770 and Washington $975.
Idaho ranks so low because it is not prone to natural disasters such as earthquakes, hurricanes or tornadoes. States that rank high on the premium list are those such as Louisiana where hurricanes and other disasters happen regularly.
Home insurance considerations in Idaho
Idaho homeowners typically don’t need extensive coverage because the state is not subject to numerous natural disasters each year like other states. However, wildfires are on the rise, so you’ll want to pay specific attention to any possible exclusions your policy may have.
Idaho common causes of loss
As a homeowner, it’s not unfathomable that you may have to file a claim one day. In Idaho, your future claim will likely revolve around one of the following:
- Flooding: Even if you’re not near a large body of water, it’s a good idea to check out FEMA’s Flood Map Service Center to see if your home is in a flood zone. If it is, or if you have any concerns about flooding, ask your agent about the National Flood Insurance Program, which offers coverage for up to $275,000.
- Storms: Idaho, especially the northern areas, also sees its share of severe winter weather. This can lead to insurance claims for hail or snow damage to your roof or gutters; in the spring, snow melt may cause flooding problems. Weather can also cause things like frozen pipes or damaged roofing.
- Wildfires: Idaho is one of the top ten states at high to extreme risk of wildfires. Fires are covered in most basic policies, but you’ll want to consider full replacement coverage in your policy to ensure that you’d be able to rebuild if your home is destroyed by fire.
Home insurance coverage options in Idaho
Your policy contains several specific types of coverage. Some of these come standard with most basic policies, others are optional add-ons, or amendments, that you can purchase for an additional cost. Frequent ones include:
- Dwelling coverage: Sometimes called hazard insurance, this covers damage to the house itself, and may extend to structures attached to it, such as a garage or deck.
- Other structures protection: This covers detached garages, tool sheds, fences, gazebos and other detached structures, and may be optional.
- Personal property protection: This covers damage to your belongings, from couches to curtains to clothes. If you own items of particular value, such as jewelry or electronics, insurance experts often recommend getting an amendment to cover the higher value of these items.
- Liability: If someone is injured at your home, such as from falling down a flight of stairs, this type of insurance would cover their medical expenses.
- Additional living expenses: If your home is damaged in a named peril and you are unable to live there while it’s being repaired, this coverage will pay for hotels and food costs.
- Flood insurance: Coverage for water damage from flooding is not covered in basic HO-3 (the most common type) policies. Your insurer may offer you the opportunity to purchase additional flood insurance, which is managed by FEMA and underwritten by the federal government.
Frequently asked questions
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
Rates are determined based on 2022 Quadrant Information Services data.