Best homeowners insurance in Idaho for 2023

Compare the best homeowners insurance companies in Idaho

To find the best homeowners insurance in Idaho, we looked at which companies write the most policies for Idaho homeowners. Then we looked at coverage options, discounts, average rates and third-party data, including the 2022 J.D. Power U.S. Home Insurance Study. We also analyzed 2023 rate data acquired from Quadrant Information Services, which indicated that the average premium in Idaho is $905, or $75 a month, for $250,000 in dwelling coverage. Lastly, we looked at each company’s website to see who makes it easiest for its customers to handle their insurance needs. We took all this information and compiled Bankrate Scores for each insurance provider out of a possible 5.0 points to help make it easy for you to quickly compare carriers. Our list of top home insurers in Idaho includes USAA, Allstate, Travelers, State Farm and American Family.

*USAA not officially ranked by J.D. Power due to eligibility restrictions.

The top five home insurance companies in Idaho

How Bankrate chose the best home insurance companies in Idaho

To help our insurance editorial team identify the best home insurance companies in Idaho, we considered more than average premiums. We also carefully examined each company’s policy options, claims handling, customer service scores, financial strength ratings and digital options. To make it easier for Idaho homeowners to quickly compare companies, we compiled this information into a Bankrate Score out of a possible 5.0 points.

How much is home insurance in Idaho?

Although every insurer has its own proprietary formula for determining home insurance premiums, in general, Idaho ranks low across the board in premiums. Currently the average cost of homeowners insurance in the United States is $1,428 for $250,000 in dwelling coverage, but in Idaho it is only $905, making it 37 percent cheaper. It’s even cheaper than neighboring states Montana and Washington. Montana currently pays an average of $1,736 and Washington $948.

Average annual premium by dwelling coverage level in Idaho

*Rates are for $250,000 in dwelling coverage.

How to find the best cheap home insurance in Idaho

Although home insurance isn't mandated by the state the way car insurance is, your mortgage holder will likely require you to purchase a policy. Even if you don't have a mortgage, however, home insurance can save you thousands of dollars if you are faced with repairs or need to rebuild your home. Having said that, you don't want to pay more for your policy than you need to. Here are some strategies for finding the cheapest Idaho homeowners insurance.

• Shop around: Don't settle on a company after you get your first quote. Ask several of the best Idaho homeowners insurance companies for quotes, and then you can see who offers you the lowest rate.
• Bundle your insurance: Most insurers offer a discount to those who purchase more than one policy from them. If you're happy with the company that carries your car insurance, for example, consider using them for home insurance and see if it nets you some savings.
• Increase your deductible: The deductible is the amount you pay before your policy kicks in after a covered claim. Increasing it is likely to reduce the amount you pay monthly for your premium; just be sure that you select an amount you feel comfortable paying on short notice. 

Common home insurance discounts in Idaho

When looking for the best homeowners insurance in Idaho, one factor to take into consideration is the number of discounts that are available to you. Most insurers have at least a few, and many of them are fairly easy to qualify for. A knowledgeable agent can help you ensure that you're getting all the discounts possible. Here are some of the more common ones in Idaho:

Home insurance coverage options in Idaho

Your policy contains several specific types of coverage. Some of these, such as dwelling coverage, liability and personal property, come with a standard HO-3 home insurance policy. In order to better protect your finances against costly repairs, you may want to consider additional policies or endorsements like these:

• Flood insurance: Water damage from flooding is typically costly and is not covered in standard home insurance policies, so you may want to consider purchasing a flood insurance policy. If you live in a zone that is considered high-risk for flooding, your mortgage lender may require you to purchase flood insurance, but even if you don’t, flooding can happen anytime, anywhere and the damage it causes can be financially devastating, so you may want to consider this additional financial protection. Flood policies can be purchased through the National Flood Insurance Program (NFIP) or several private insurers. 
• Earthquake insurance: Idaho is ranked fifth in the nation for earthquake risk, so you may want to consider purchasing earthquake insurance. In most cases, coverage for damage from earthquakes is available as an insurance endorsement, but talk with your insurance agent to see what is available from your preferred insurance company. 
• Wildfire coverage: Idaho is considered a high-risk state for wildfires, so it’s important to ensure that you are covered. Many standard home insurance policies do cover damage caused by a wildfire, but if you are in a particularly high-risk area, you may need to purchase additional coverage. Talk to your home insurance agent when purchasing your policy to ensure you are financially protected against this common Idaho peril.
• Sump pump and sewer backup: Although regular HO-3 policies cover some plumbing mishaps, you may want to consider purchasing an endorsement for full coverage of sump pump issues, including clogs or backups that lead out to municipal pipes.
• Replacement cost coverage: Your policy is likely to cover replacement of your personal belongings, but not all policies include replacement cost coverage, which does not take depreciation into account and gives you the full amount to allow you to purchase new items like those that were lost. 
• Identity theft insurance: As identity theft has become more and more a problem in our technological world, insurers increasingly offer this coverage as an endorsement. It may help you pay for identity restoration or legal bills after a breach.

Frequently asked questions