Homeowners in the Beehive State have many options when it comes to homeowners insurance, but knowing which option is the best can be tricky. Although not a legal requirement, homeowners insurance can be an integral part of your financial plan if you live in Utah, and having the best homeowners insurance means building a policy personalized to your home and needs.
In Utah, the average annual cost of home insurance is $647 per year for a policy with $250,000 in dwelling coverage, according to Bankrate’s 2021 study of quoted annual premiums from Quadrant Information Services. Whether this is your first time shopping for homeowners insurance or you are looking to find a more competitive rate, Bankrate has done the research to help make your decision process easier.

Best home insurance companies in Utah

With a variety of property insurers operating in Utah, your choices for a provider are nearly endless. To narrow down the list, Bankrate reviewed numerous insurance providers in the state to learn their financial strength ratings and customer service scores from reputable third-party reviewers like AM Best and J.D. Power, as well as each company’s coverage options, discounts and even mobile app accessibility. From our grading, below are some of the best home insurance companies in Utah:

Home insurance company Average annual premium for $250k dwelling coverage J.D. Power score
Allstate $803 829/1,000
Auto-Owners $662 831/1,000
Farmers $846 813/1,000
State Farm $809 835/1,000
USAA $656 882/1,000

Allstate

For first-time buyers, Allstate has simple and easy-to-use online tools and superior customer satisfaction ratings. Allstate may be one of the most expensive when it comes to average annual premium compared to others on this list, but they also have a full menu of additional coverage options and discounts that many competitors may not offer to insure your home.

Learn more: Allstate Insurance Review

Auto-Owners

For a more personalized experience, Auto-Owners works with local agents to guide you through the insurance buying process. Its homeowners policy is more standard compared to other homeowners insurance carriers, even when upgrading to its Homeowners Plus policy, but the company did receive a high rating for customer satisfaction from J.D. Power and a strong financial strength rating from AM Best.

Learn more: Auto-Owners Insurance Review

Farmers

Homeowners who have put a significant amount of work into their homes might consider Farmers at the top of their list. Though the  average home insurance cost with Farmers is slightly higher than average rate in Utah, the company offers a wide variety of discounts specifically for home upgrades and renovations that could help with lowering the premium.

Learn more: Farmers Insurance Review

State Farm

State Farm is an option to consider for homeowners who want access to expansive homeowners insurance policy coverage options as well as the reliability of a local agent. State Farm is on the higher end of the average home insurance premiums on this list, but it also offers a variety of discounts that could be used to help lower the annual premium.

Learn more: State Farm Insurance Review

USAA

USAA offers some of the cheapest average homeowners insurance premiums in Utah with many coverage options for personalization. However, USAA also has very strict eligibility requirements and is not available to the wider public, as the company only accepts current and former members of the military who have been honorably discharged, as well as eligible family members.

Learn more: USAA Insurance Review

How much is homeowners insurance in Utah?

The average cost of homeowners insurance in Utah is $647 per year for $250,000 in dwelling coverage. This is cheaper than the national average cost of homeowners insurance at $1,312 per year, and even cheaper than the average premiums in neighboring states such as California and Colorado.

However, it’s important to keep in mind that home insurance premiums vary depending on features of your home, such as the age, size, location and condition, as well as coverage options included in the policy. To be sure that you are getting the best rate for your home, it’s highly recommended that you shop around and request quotes from multiple insurance companies.

State Average annual cost of home insurance for $250,000 in dwelling coverage in neighboring states
Utah $825
Oregon $776
Colorado $1,995
Nevada $814
California $1,101

Home insurance in Utah

When purchasing home insurance for your property, you should be aware of the available coverage options that can be added to the policy for more security and peace of mind. The coverage options you choose will likely depend on a number of factors, including the climate conditions in your region, the rate of crime in your area and the most common causes of property damage.

Common causes of loss in Utah

Utah is considered a low-risk state by most home insurers, but there are still potential perils to know about that could result in a property insurance claim. According to the Federal Emergency Management Agency’s (FEMA) record of declared disasters in Utah, these are the top recurring natural disasters in this state:

  • Wildfires
  • Earthquakes
  • Winter storms
  • Flooding

Standard homeowners policies cover damage from fire and storms, but earthquakes and floods are excluded. Homeowners near an active fault line can consider purchasing separate earthquake insurance. When it comes to flood insurance, it may be worth looking into if your home is located in or near a flood zone. If your home has a mortgage, your financial institution may require flood insurance.

Home insurance coverage options in Utah

Many insurance companies offer unique coverage options that competitors may not have, but there are certain standard coverages that are offered as part of all homeowners insurance policies. To be sure you are getting the best homeowners insurance policy for your home, it’s important to know not only what these coverages are, but how much insurance you’ll need for your home. You’ll find a brief summary of these coverage options below:

  • Dwelling coverage: This is the primary portion of homeowners insurance coverage and insures your home and any attached structures.
  • Other structures coverage: If you have a separate structure, such as a swimming pool or detached garage, these structures would be covered under this section of your homeowners insurance policy. The amount is typically a set percentage of your dwelling coverage amount.
  • Personal property coverage: This coverage applies to your personal belongings, such as furniture, clothing and appliances.
  • Additional living expenses coverage: If your home was damaged because of a covered loss and you were unable to live there, this coverage would pay for temporary lodging costs while your home is being repaired.

Frequently asked questions

What is the cheapest homeowners insurance company?

While some companies may have cheap homeowners insurance compared to competitors, the individual rate for each home will vary. Homeowners insurance is very personalized and depends on a variety of rating factors, so premiums will be different for every homeowner.

Is homeowners insurance required in Utah?

Purchasing homeowners insurance is not a legal requirement for all homeowners, but it can be required by your mortgage company or lienholder if you have a loan on your home. Even if this is not the case, considering a homeowners insurance policy can be a beneficial part of your financial plan to protect what may be one of your largest investments.

How do I compare homeowners insurance policies?

When looking for the best insurance, a common piece of advice is to shop around and compare homeowners insurance policies. If you know what coverage amounts and types you need, be sure to specify these when requesting quotes from insurance providers so that you can compare accurately. This will also help you see which one offers the most reasonable price.

Methodology

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.