As of 2019, 71% of Utah residents own a home and the median average property value is $330,300, up from $303,300 the prior year. In Utah, the average annual cost of home insurance is $647 per year for a dwelling coverage of $250,000, according to Bankrate’s 2021 study of quoted annual premiums. Although not legally required, a homeowners insurance policy can protect you from financially devastating events like weather events and property crime. Whether you are insurance shopping for the first time or just looking for a better rate, the Beehive State has a range of insurance providers that can offer the best homeowners insurance in Utah for your property.
Best home insurance companies in Utah
With 1,846 insurance companies currently licensed in Utah, your choices for a provider are nearly endless. The J.D. Power 2020 U.S. Home Insurance Study lists these home insurers as some of the best home insurance companies in Utah:
|Home insurance company||Average annual premium for $250k dwelling||J.D. Power score|
For first-time buyers, Allstate is a decent option with a variety of discounts, simple and easy-to-use online tools and superior customer satisfaction ratings. There is also a full menu of optional coverage that many competitors don’t make available. With Allstate, you can get the coverage you need for your home, yard, belongings and identity.
Learn more: Allstate Insurance Review
For a more personalized experience, Auto-Owners works with local agents to make sure you get the exact homeowners coverage that fits your needs. Six different types of coverage are available to protect your property and liability. With a 4-star rating from J.D. Power and an A++ from AM Best—which shows its financial ability to pay claims—, Auto-Owners receives accolades across the board.
Learn more: Auto-Owners Insurance Review
If you want comprehensive coverage in any of the 50 states at an affordable cost, Farmers is a seasoned company you should consider. Aside from offering all the usual options, it also has some unique features such as the eco-build option that gives you perks for using green building materials and claim forgiveness that keeps your premium the same after your first claim.
Learn more: Farmers Insurance Review
State Farm is another customer favorite for home insurance in Utah. Home insurance policies include coverage for acts of nature, fire, theft and vandalism. State Farm is ranked fourth in the country by J.D. Power and has an A++ financial stability rating from AM Best.
Learn more: State Farm Insurance Review
Average homeowners insurance cost in Utah
With average annual premiums of just $647 per year, Utah could be considered one of the cheapest states for home insurance, since the national average is $1,312. This is likely a reflection of relatively low crime rates and the absence of major weather threats like tornadoes. Utah’s home insurance price is notably cheaper than neighboring states like California and Colorado, where premiums run about $1,014 and $1,649 respectively per year.
|State||Average cost of home insurance|
Home insurance in Utah
When purchasing home insurance for your property, you should be aware of the available coverage options to choose from that can be added to the policy for more security and peace of mind. And the coverages you choose may depend, to a great extent, on the climate conditions in your region, the rate of crime and the most common causes of property damage.
Common causes of loss in Utah
Even though Utah is considered a low-risk state by most home insurers, there are still potential perils to know about that could result in a property insurance claim. According to the Insurance Information Institute, these are the most common causes of homeowners insurance losses:
- Fire and lightning
- Bodily injury and property damage
- Wind and hail
- Water damage and freezing
One additional risk that Utah homeowners should know about is earthquakes. Parts of the state are considered high hazard earthquake zones, particularly in northern areas. Since standard home insurance policies do not cover earthquake damage, the Utah Insurance Department recommends that homeowners in the state purchase separate earthquake insurance.
Home insurance coverage options in Utah
Not all homeowners insurance policies are made equal. There are many different types of coverage to choose from when you are picking out a policy. The Utah Insurance Department recommends that all homeowners purchase the following types of coverage in addition to dwelling coverage:
- Building coverage: Protects the structure of your home and other structures (such as a standalone garage).
- Personal property coverage: Covers the belongings you keep on your property.
- Living cost reimbursement: Pays for your living expenses if you need to temporarily relocate because your home is uninhabitable.
- Personal liability insurance: Protects you from legal liability if you’re responsible for bodily injury or property damage that affects a third party.
- Medical payments: If someone is hurt while on your property, this coverage will pay for their medical expenses.
Frequently asked questions
What is the best homeowners insurance in Utah?
Although the best home insurance companies will depend upon individual needs and preferences, according to our research, MetLife offers some of the cheapest rates while Allstate has the best customer satisfaction scores.
How do I get homeowners insurance in Utah?
To get a Utah homeowners insurance policy, visit provider websites or contact local agents to get quotes for your home and compare pricing. To get the most accurate quotes, use the same levels of coverage and deductible limits for each carrier.
Is homeowners insurance required in Utah?
No state requires home insurance by law, although most lenders will ask for proof of coverage if you finance your house. Still, you should consider putting home insurance in place to protect yourself from unpredictable events like fire, inclement weather and property crime.
How much does home insurance cost in Utah?
Utah is one of the cheapest states for a homeowners policy. On average, premiums are just $647 per year for a home with $250,000 in dwelling coverage compared to the national average of $1,312.
Bankrate utilizes Quadrant Information Services to analyze 2021 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 will differ.