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Best homeowners insurance in Wyoming for 2023

Based on Bankrate's analysis, USAA, Allstate and State Farm are offering the best home insurance policies in Wyoming.

Updated Sep 01, 2023
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Quick Facts
Moneybag
$382/year
average savings through Bankrate
Two Thirds
2 out of 3 homes
are underinsured
Insurance Home
1 out of every 20
insured homes makes a claim each year
Circle Check
100% of homes
need insurance before getting a mortgage
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Compare the best homeowners insurance companies in Wyoming

Per data sourced from Quadrant Information Services, Wyoming homeowners pay an average of $954 annually, or about $80 a month, for $250K in dwelling coverage. This is 33 percent lower than the national average of $1,428 per year. It's also considerably less than neighboring states. Montana's average rate, for example, is $1,736, while residents of Colorado pay an average of $2,152. 

While cost is important, it's not the only factor to consider when you are purchasing Wyoming home insurance. We looked at all the major carriers operating in the state, assessing their coverage and discount options, as well as their customer satisfaction ratings from J.D. Power and financial strength ratings from AM Best. Finally, we reviewed the companies’ websites and mobile apps to see which ones make it easy to do business online. USAA, Allstate and State Farm consistently ranked highest.

USAA
Rating: 3.7 stars out of 5
3.7
Bankrate Score
Info
AM Best
A++
J.D. Power
884
/1,000
Average monthly premium
$40
Average annual premium
$482
Get a quote
Allstate
Rating: 3.5 stars out of 5
3.5
Bankrate Score
Info
AM Best
A+
J.D. Power
815
/1,000
Average monthly premium
$93
Average annual premium
$1,114
Get a quote
State Farm
Rating: 3.2 stars out of 5
3.2
Bankrate Score
Info
AM Best
A++
J.D. Power
829
/1,000
Average monthly premium
$128
Average annual premium
$1,532
Read review
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Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

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

**Premiums are for $250K in dwelling coverage

The top 3 home insurance companies in Wyoming

USAA

Best for military-focused coverage

Rating: 3.7 stars out of 5
3.7 Bankrate Score
JD Power: 884/1,000 AM Best: A++

Average annual premium

$ 482 for $250k dwelling coverage
USAA Review Get a personalized quote

Why USAA made our list: USAA has top rankings for customer service and financial strength while offering the lowest average rates for Wyoming residents. The catch? It only sells policies to active-duty military, veterans and eligible military family members. USAA offers unique benefits to service members, like uniform coverage, plus a range of standard and optional coverages.

Who USAA may be good for: USAA may be a good choice for current and former military personnel and qualifying family members due to its low average rates and benefits tailored to military families.

Allstate

Best for digital tools

Rating: 3.5 stars out of 5
3.5 Bankrate Score
JD Power: 815/1,000 AM Best: A+

Average annual premium

$ 1,114 for $250k dwelling coverage
Allstate Review Get a personalized quote

Why Allstate made our list: Allstate has a highly-rated mobile app that can help users easily file claims, pay bills and access documents. Plus, the company offers standard policies with a greater-than-usual number of options, such as coverage for yards, gardens, sports equipment, musical instruments and electronics. Its list of available discounts is also robust and includes a 10 percent discount just for switching to Allstate. 

Who Allstate may be good for: If you live in rural Wyoming, Allstate might be a good option. You would likely be able to handle all your insurance tasks digitally, rather than visiting an office.

State Farm

Best for local agents

Rating: 3.2 stars out of 5
3.2 Bankrate Score
JD Power: 829/1,000 AM Best: A++

Average annual premium

$ 1,532 for $250k dwelling coverage
State Farm Review Get a personalized quote

Why State Farm made our list: If you value the ability to develop a relationship with a local agent who has knowledge of your region, you may want to consider State Farm. The company has offices in more than 25 Wyoming cities. Plus, State Farm earned an above-average ranking from J.D. Power and the highest possible rating from AM Best.

Who State Farm may be good for: If you like doing business in person, State Farm could be a good option.

How Bankrate chose the best home insurance companies in Wyoming

After an in-depth analysis of Wyoming homeowners insurance companies, Bankrate’s insurance editorial team assigned each carrier a Bankrate Score out of 5.0 points. Higher scores were awarded to companies that fared better in terms of coverage options, average premiums, customer service, third-party ratings and more.

Clock Wait
46
years of industry expertise
Search
122
carriers reviewed
Location
20.7K
ZIP codes examined
Dollar Coin
1.2M
quotes analyzed

How much is home insurance in Wyoming?

Homeowners in the Equality State can expect to pay a little less for home insurance. The average cost of homeowners insurance in Wyoming is $954. Compared to the national average of $1,428, Wyoming is nearly $500 cheaper. However, your rate may vary depending on your home’s location, size and age, the coverage you select and more.

Wyoming home insurance may be cheaper compared to other states because there are fewer concerns about safety. Reports of property crime are lower than the national average. Destructive weather events are less common, too. However, the state is not immune to natural disasters. Historically, parts of Wyoming have experienced flooding, wildfires, earthquakes, tornadoes and more, so experts recommend consulting an insurance professional to help select the best policy for your individual circumstances. 

$150K
$370
$250K
$482
$350K
$592
$450K
$703
$750K
$1,021
$150K
$822
$250K
$1,114
$350K
$1,518
$450K
$1,896
$750K
$2,808
$150K
$962
$250K
$1,532
$350K
$2,209
$450K
$2,912
$750K
$4,963
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Advertising Disclosure
This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions.

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

Your ZIP code can play a role in determining your premium. If you live in an area with few instances of natural disasters and low crime rates, you may pay well under the state average for homeowners insurance. 

Here are a few Wyoming cities where average home insurance premiums are well below the state average:

  • Dayton: $847 — 11 percent below the state average
  • Leiter: $847 — 11 percent below the state average
  • Ranchester: $847 — 11 percent below above the state average
  • Sheridan: $854 — 10 percent below above the state average
  • Crowheart: $857 — 10 percent below above the state average

You may see higher average rates if you live in a region where claims are more common. If you live near an area where wildfires occur frequently, for example, you may pay more for homeowners insurance. 

Here are some of the areas in Wyoming that see higher average premiums:

  • Torrington: $1,056 — 11 percent above the state average
  • Gillette: $1,055 — 11 percent above the state average
  • Wright: $1,055 — 11 percent above the state average
  • Alva: $1,051 — 10 percent above the state average
  • Devils Tower: $1,051 — 10 percent above the state average

How to find the best cheap home insurance in Wyoming

Although home insurance is not mandated by law in Wyoming, your lender may require that you purchase it if you have a mortgage. Even if you own your home outright, though, it's important to have a robust policy to protect your finances in the event of loss, damage or unexpected events. Having said that, no one wants to pay more for a policy than they must. Here are a few ways to save money on Wyoming homeowners insurance:

  • Keep your roof in good repair: Insurers are likely to ask about the age of your roof when providing quotes. Since older roofs can be the cause of high-cost claims, insurers may reward policyholders who have newer roofs with a significant premium discount. You may also earn a discount from your insurer if your roof is made of storm-resistant materials.
  • Shop around: Don't settle for the first price you receive; compare quotes from several insurers to see which company gives you the best rate. Just be sure to ask for the same coverage options from each company so it's an apples-to-apples comparison.
  • Work on your credit score: A high credit score tells your insurer that you have a documented history of paying your bills in full and on time, which is likely to earn you a favorable rate. If you have a low credit score, your insurer may question your financial responsibility. To protect themselves, they may charge you more.
  •  Bundling: Most insurers offer the opportunity to save money by purchasing more than one policy from them. Most commonly, this will mean homeowners and car insurance, but check with your insurer if you are interested in other insurance products, too.

Common home insurance discounts in Wyoming

While bundling discounts are the most common way to save money on home insurance in Wyoming, many companies offer several other discount opportunities. Here are a few that are worth asking your insurance agent about:

Types of home insurance in Wyoming

In addition to the standard coverage types that come with a homeowners policy, insurers generally offer optional coverages, called endorsements, that you can add for more thorough coverage. But in some cases, you may need to purchase a separate policy altogether to make sure you’re financially protected in the event of certain incidents (floods are one example). Here are a few options to consider when you are choosing your insurance:

  • Flood insurance: Flood insurance is offered through the federally-backed National Flood Insurance Program (NFIP). The Federal Emergency Management Agency (FEMA) determines coverage and rating criteria for NFIP policies, but flood coverage is also available through many private insurers.
  • Earthquake insurance: In some high-risk areas, earthquake insurance may have to be purchased as a separate policy; however, many home insurance companies also offer it as an endorsement that can be added to your home policy. Considering there are several fault lines in Wyoming, you may want to consider this coverage.
  • Sinkhole insurance: Sinkholes occur randomly throughout much of Wyoming. Similar to earthquake insurance, sinkhole insurance may be purchased as a standalone policy or as an endorsement that you can add to an existing policy. Coverage can vary widely depending on where you live and the insurance company you choose, so if this coverage is important to you, you should examine your policy closely.
  • Increased other structures: Other structures’ coverage is automatically included in a standard homeowners policy, usually at a 10 percent limit of the dwelling amount. However, if you have a shed, garage, greenhouse, barn or even some nice fencing valued greater than your policy limit, you may consider increasing your coverage. It could come in handy if, say, a wildfire damages other buildings or structures you have on your property.

Frequently asked questions

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Written by
Mary Van Keuren
Contributor, Insurance

Mary Van Keuren has written for insurance domains such as Bankrate, Coverage.com, and The Simple Dollar for the past five years, specializing in home and auto insurance. She has also written extensively for consumer websites including Reviews.com and Slumber Yard. Prior to that, she worked as a writer in academia for several decades.

Edited by Editor, Insurance
Reviewed by Director of corporate communications, Insurance Information Institute