Best & Cheapest Homeowners Insurance in Idaho April, 2024

Nationwide offers the most budget-friendly homeowners insurance for homeowners in Idaho, with an average annual quote of $1,089.

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Updated: 29 March 2024
Written by
Bob Phillips
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In our detailed assessment of homeowners insurance providers in Idaho, Nationwide stands out as the most cost-effective option, with average annual rates of $1,089. However, it’s essential to recognize that the optimal insurer for you may vary based on your specific circumstances and requirements.

For instance, if your credit score has been negatively impacted, Nationwide remains the most affordable choice with an average annual premium of $1,598. On the other hand, if you own an older home, Farmers offers competitive rates of $1,246 per year along with comprehensive coverage.

Furthermore, if you’ve recently purchased a newly constructed home, Farmers again provides the most economical solution at $609 per year. Additionally, for individuals with a history of claims, USAA offers an affordable and accommodating option at $1,714 per year.

At Insuranceopedia, our comprehensive analysis aims to assist you in finding the perfect match for your homeowners insurance needs. Through customer ratings, examination of personal experiences, and comparison charts, we strive to provide you with all the necessary information to make a well-informed decision.

How much is homeowners insurance in Idaho?

Nationwide offers the most affordable option for homeowners insurance in Idaho, with an annual rate of $1,089.

As mentioned below, the rates in Idaho are lower than the national average.

Area Average Monthly Rate
National $1,820
Idaho $1,278

It’s important to understand that insurance rates aren’t the same for everyone and can vary widely based on several factors.

Your personal driving history plays a key role; having a record of traffic violations or accidents usually leads to higher premiums compared to having a clean record. Additionally, the type and model of your vehicle are significant factors, as high-performance or luxury cars generally have higher insurance costs.

Your location also affects your rates, with densely populated urban areas often having higher premiums due to increased risks of theft or accidents. Even factors like your age and marital status can impact your car insurance premiums.

Cheapest Homeowners Insurance in Idaho 2024

Cheapest Homeowners Insurance, Idaho, 2024

Our Methodology

In our search for the most budget-friendly home insurance rates in Idaho, we analyzed data from multiple home insurance review platforms. Some of these sources evaluated rates obtained from public filings acquired by Quadrant Information Services. We averaged these rates for our review. However, it's important to note that rates from each company can change regularly and may differ based on your individual circumstances. Furthermore, our overall rating includes my subjective opinion, which is based on fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

66

Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest homeowners insurance in Idaho

Nationwide is the most budget-friendly option for homeowners insurance in Idaho, with an average annual rate of $1,089.

Company Annual Premium
Nationwide $1,089
USAA $1,155
Farmers $1,248
Allstate $2,142
State Farm $2,340

The price of your insurance policy is affected by several factors, including your location, home value, and claims history. Nationwide offers a balanced combination of affordability and comprehensive coverage.

Cheapest Homeowners Insurance If You Have Poor Credit

Nationwide provides the most economical solution for individuals with poor credit scores, offering an average annual rate of $1,598.

Insurance Company Average Annual Premium
Nationwide $1,598
USAA $2,199
Foremost $2,267
Allstate $2,790
State Farm $3,540

Your credit score is a crucial factor in determining your insurance rates, as it is a key element that insurers use to evaluate risk. Nationwide understands the significance of offering equitable coverage to all individuals, irrespective of their financial background.

Cheapest Homeowners Insurance In Idaho If You Have an Older Home

For homeowners with older homes, Farmers offers the most budget-friendly rates, averaging $1,246 per year.

Insurance Company Average Annual Premium
Farmers $1,246
Foremost $1,398
Allstate $2,197
Nationwide $2,340
State Farm $2,582

Older homes frequently come with unique risks and maintenance challenges, potentially leading to higher insurance expenses. However, Farmers provides competitive rates and comprehensive coverage specifically designed to address the requirements of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

If you’ve recently purchased a newly constructed home, Farmers offers the most economical solution, with an average annual rate of $609.

Insurance Company Average Annual Premium
Farmers $609
State Farm $660
Idaho Farm Bureau $701
Allstate $715
America Family $820

Newly constructed homes often require different coverage compared to older properties, and Farmers stands out in providing affordable policies tailored to meet these specific requirements.

Cheapest Home Insurance In Idaho for a History of Claims

For homeowners with a history of claims, USAA provides an affordable solution, with an average annual rate of $1,714.

Insurance Company Average Annual Premium
USAA $1,714
Farmers $2,027
Nationwide $2,180
State Farm $2,678
Allstate $3,660

A history of claims can indicate higher risk for insurers, often leading to higher premiums. However, USAA believes in offering second chances and provides reasonable rates for individuals with past claims.

Best Homeowners Insurance Companies in Idaho

Choosing the right homeowners insurance isn’t just a necessity; it’s a strategic decision. Idaho’s homes, rich in history, are as unique as its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive prices becomes essential.

To simplify your decision-making process, we’ve compiled a list of the top homeowners insurance companies in Idaho. These companies were evaluated based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Explore our comparison chart below to find the perfect match for your home insurance needs.

Company Annual Premium
Nationwide $1,089
USAA $1,155
Farmers $1,248
Allstate $2,142
Foremost $1,520
State Farm $2,340
American Family $890
Farm Bureau $2,560

Average Home Insurance Rates in Idaho by Deductible Amount

The deductible amount selected for a homeowners insurance policy has a considerable impact on premium rates in Idaho. Here’s how the average home insurance rates vary with insurers for different deductible amounts:

Insurer Annual Rate for $500 Deductible
$500 $896
$1,000 $820
$1,500 $780
$2,000 $740
$5,000 $639

Average Home Insurance Rates in Idaho By Coverage Amount

One crucial factor that influences your premium is the dwelling coverage amount. This represents the maximum sum your insurance company will pay to rebuild or repair your home if it’s damaged or destroyed.

Let’s delve into a comparison chart that outlines the average annual homeowners insurance premiums for various dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $710
$250,000 $830
$300,000 $946
$350,000 $1,098
$400,000 $1,188

Average Home Insurance Rates in Idaho by Company

Below is a table comparing the annual premiums from leading insurance providers in Idaho.

Company Annual Premium
Nationwide $1,089
USAA $1,155
Farmers $1,248
Allstate $2,142
Foremost $1,520
State Farm $2,340
American Family $890
Farm Bureau $2,560

How Much is Homeowners Insurance for Other Cities in Idaho?

Here’s a detailed comparison chart highlighting the most affordable insurance companies and their annual premiums across different cities in Idaho.

City Annual Premium
Idaho Falls
$1,189
Caldwell
$1,246
Rexburg
$1,350
Twin Falls $1,172

Getting Online Homeowners Insurance Quotes in Idaho

With informative platforms like Insuranceopedia, finding the best coverage for your specific needs is quick and easy. By providing fast online quotes from top-rated insurers, Insuranceopedia allows you to compare rates easily.

Just input your details, and let us do the work for you by presenting a range of options tailored to your requirements. This empowers you to confidently choose a policy that offers the best value, striking a balance between cost and comprehensive coverage.

 

FAQs

Who has the cheapest home insurance in Idaho?

Nationwide offers the most affordable home insurance in Idaho, with an annual premium of $1,089.

What is the average cost of home insurance in Idaho?

The typical annual cost of homeowners insurance in Idaho is around $1,278.

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