Best homeowners insurance companies in Utah for 2024

Compare the best homeowners insurance companies in Utah

To help you find the best Utah homeowners insurance, Bankrate's editorial team analyzed rates provided by Quadrant Information Services, as well as data and rankings gathered from trusted third-party sources, such as AM Best and J.D. Power. Each company was assigned a Bankrate Score based on factors such as coverage options, affordability, financial strength and customer service. While the average Utah homeowner pays $1,117 per year, we determined that USAA, Nationwide, State Farm, American Family and Farmers offer some of the most competitive rates, coupled with standout service.

The top 5 home insurance companies in Utah

Additional Utah home insurance companies to consider

Travelers

Auto-Owners

Encompass

How Bankrate chose the best home insurance companies in Utah

Bankrate’s insurance editorial team, which includes licensed agents, reviews each company carefully to determine which offer the best policies for Utah homeowners. Average pricing information is collected from Quadrant Information Services. This information is collated along with data on coverage options, customer satisfaction, financial strength and more to provide a Bankrate Score that reflects the ability of each company to write robust, cost-effective policies for those who own homes in the Beehive State.

Cheapest home insurance companies in Utah

Shopping for homeowners insurance can be overwhelming, but knowing the cheapest companies for average premiums in Utah can give you a place to start. Keep in mind that exact rates will vary depending on your ZIP code, the coverage options you choose and other factors.

How to get cheap Utah home insurance

Although cost is only one of the factors you should consider when looking for home insurance, it's a big one. No one wants to pay more than is necessary for coverage. Having said that, you also want a company that is financially solvent and places a high value on customer service. How do you find the best cheap home insurance in Utah? Here is a good strategy to follow:

1. Assess your situation. Do you live near a fire station? Is your home brick or something else? When was your roof last replaced? All these elements will factor into the price you pay for insurance.
2. Research several insurance companies. The best cheap home insurance in Utah for you will most likely be different for another homeowner. To get started, you may want to read carrier reviews to learn about the company’s coverage options that are applicable to your situation. Additionally, check if the company makes it simple to do business online and whether local agents are easily accessible. Only you can determine what is most important to you when picking an insurer.
3. Gather quotes. Many insurance companies will give you a quote online. Others require you to call an agent. Shopping around is the best way to find out which insurer’s rates will be lowest for you. Be sure you're asking for the same coverage — or as close as you can get — each time so that your comparison is apples to apples.
4. Consider discounts. Most insurers have discount opportunities for qualifying policyholders. Make sure the quotes you receive take all possible discounts into account.
5. Review third-party ratings. Agencies such as J.D. Power and AM Best can help you determine how reliable an insurer has been in terms of customer satisfaction and claim payouts.
6. Make a list of pros and cons. After gathering all your information, choose your insurer based on how well it fares in price, ratings and any other factors that are important to you.

Best home insurance discounts in Utah

Discounts can save you money on your premium, and many of them are easy to qualify for. Here are a few that Utah insurance companies may offer.

How to save on home insurance policy renewals in Utah

After you’ve found an insurance company and purchased a policy, you can potentially save at renewal time. Here are a few things you might be able to do to reduce costs:

• Maintain your roof. A new roof can do a better job of protecting your home from extreme weather, and it might earn you a discount.
• Improve your credit. This tip takes time, but making regular payments and paying down debt shows your insurance company that you’re financially responsible. If your credit score goes up, you could earn a lower premium.
• Limit your claims. Homeowners insurance is there when you need it, but if you file a lot of claims, your insurance company might raise your premium or drop you altogether. Try to file a claim only if you can’t pay for the repairs yourself.

How much is home insurance in Utah?

Utah homeowners pay an average of $1,117 annually for $300,000 in dwelling coverage. This is considerably cheaper than the national average, which is $2,151. It's also cheaper than homeowners insurance in Utah's neighboring states, such as Nevada, where the average is $1,257, and Colorado, which clocks in at an average of $2,988. The reasonable cost in Utah may be partly related to the relatively low cost of living in the state.

Keep in mind that your own rates are likely to differ from the average. Insurers determine premiums by looking at multiple factors that are specific to your circumstances, such as your home's age, location, overall condition and even the age of the roof. The coverage options you choose will also play a role in determining what you pay. It's a good idea to shop around when you are looking for a policy and gather quotes from a range of insurers to be sure you're getting the best price for your policy.

Each insurer uses its own proprietary algorithm to determine premiums, so you can see a range of average premiums for the same amount of dwelling coverage from different insurers. As the coverage increases, the price does as well.

Utah homeowners insurance rates by city

Rates within Utah can vary significantly by city. This is noticeable when you compare rates for densely populated cities like Salt Lake City to smaller rural communities.

*Rates are for $300,000 in dwelling coverage.

What does home insurance cover in Utah?

As a homeowner, one of the most important investments you can make is purchasing homeowners insurance. This type of insurance covers your property and belongings in case of unexpected events, such as natural disasters, theft and accidents. While it may seem like an extra expense, homeowners insurance can provide peace of mind and financial stability in the event of a disaster.

While standard policies cover six main areas, it's important to note that certain perils, such as flooding and earthquakes, are typically not included and will require additional insurance. To make sure you have the best coverage for your specific needs, it's important to carefully review your policy and consider any necessary endorsements or separate policies. Additionally, regularly maintaining your home and staying informed about your coverage options can help avoid costly surprises in the future.

Additional home insurance coverage types in Utah

In addition to standard coverage types for your buildings and property, most insurers have optional endorsements, or add-ons, that allow you to personalize your policy to meet your own needs. Add-ons are an additional cost, but offer more robust protection and can be worth considering.

Here are some common endorsements:

• Earthquake insurance: Because standard home insurance policies exclude coverage for earthquakes, Utah homeowners might consider purchasing a separate earthquake insurance policy or endorsement to round out their insurance portfolio. Most major home insurance carriers offer this type of coverage, which protects your financial investment in your home and personal belongings in the event of an earthquake.
• Flood insurance: If your home is located in a flood zone or near a body of water, having a flood insurance policy can be important. Most HO-3 and HO-5 home insurance policies do not include flood coverage, but flood policies are available from the National Flood Insurance Program (NFIP) and through some private insurers. According to the Insurance Information Institute, 90 percent of U.S. natural disasters involve flooding, which means that most Utah homeowners should at least consider flood insurance.
• Water backup coverage: Water backup coverage is an endorsement sold by many home insurance companies. It provides coverage if your sewer line gets clogged or a sump pump fails and water backs up into your home. Flood insurance does not cover water backup, and home insurance policies must have this endorsement if they want the coverage.

Common Utah home insurance problems

Homeowners in the southern and southeastern parts of Utah have a higher risk of flooding, which can mean more expensive policies. Utah also faces extreme heat and severe snowstorms. Although Utah hasn’t faced the same challenges that coastal states have, homeowners might still experience some of the following issues:

• Climbing rates: Inflation makes the cost of repairs and replacements more expensive. Insurance companies pass the added costs onto policyholders through higher premiums.
• Unable to get insurance: If a policyholder has made too many claims in the past or has a poor credit score, insurance companies might charge more or refuse to renew a policy.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze April 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on married 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

• Coverage A, Dwelling: $150,000, $300,000, $350,000, $450,000, $750,000
• Coverage B, Other Structures: $15,000, $30,000, $35,000, $45,000, $75,000
• Coverage C, Personal Property: $75,000, $150,000, $175,000, $225,000, $375,000
• Coverage D, Loss of Use: $30,000, $60,000, $70,000, $90,000, $150,000
• Coverage E, Liability: $500,000
• Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible, a $500 hail deductible and a 2 percent hurricane deductible (or the next closest deductible amounts that are available) where separate deductibles apply. 

These are sample rates and should be used for comparative purposes only. Your quotes will differ.