Best & Cheapest Homeowners Insurance in Salt Lake City, UT June, 2024

Allstate provides the most affordable homeowners insurance for homeowners in Salt Lake City, offering an average annual quote of $893.

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Updated: 05 May 2024
Written by
Bob Phillips
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In our thorough examination of homeowners insurance providers in Salt Lake City, UT, Allstate stands out as the most affordable option, with average annual rates of $893. However, it’s important to note that the best insurer for you may vary depending on your specific circumstances and needs.

For example, if your credit score is lower, Nationwide offers the most economical choice with an average annual premium of $1,285. If you own an older home, State Farm provides competitive rates of $1,005 per year along with comprehensive coverage.

On the flip side, if you have a newly constructed home, Nationwide offers the most cost-effective solution at $795 per year. For individuals with a history of claims, Nationwide provides an understanding and affordable solution at $1,570 annually.

Furthermore, if you have valuable personal property requiring protection, Travelers proves to be the top choice, offering extensive coverage at a reasonable rate of $1,137 per year.

Our detailed analysis at Insuranceopedia aims to assist you in finding the ideal homeowners insurance coverage. Through comparing customer ratings, analyzing personal experiences, and presenting comparison charts, we provide all the necessary information for you to make a well-informed decision.

How much is homeowners insurance in Salt Lake City, UT?

Allstate provides the most affordable homeowners insurance rate in Salt Lake City, UT, at an annual premium of $893.

As indicated below, the homeowners insurance rates in Salt Lake City are higher than both the national average and the average rate for the state of Utah.

Area Average Monthly Rate
National $1,820
Utah $1,092
Salt Lake City $1,899

Understanding insurance rates is crucial because they are not uniform and can vary significantly based on various factors.

Cheapest Homeowners Insurance in Salt Lake City, UT

Cheapest Homeowners Insurance, Salt Lake City, 2024

Our Methodology

To determine the most affordable home insurance rates in Salt Lake City, we conducted a thorough analysis using data from various home insurance review sites. Some of these sites sourced rates from public filings obtained from Quadrant Information Services. We have averaged these rates for this review, but it's important to note that each company's rates can fluctuate frequently and will be influenced by your specific circumstances. Our overall rating also considers my subjective opinion, drawing from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance policies. This blend of objective data and personal expertise ensures a comprehensive assessment of the available options.

66

Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest homeowners insurance in Salt Lake City, UT

Allstate stands out as the most affordable overall option for homeowners insurance in Salt Lake City, UT, offering an average annual rate of $893.

Company Annual Premium
Allstate $893
Nationwide $930
State Farm $1,104
USAA $1,299
Auto-Owners $3,090

The price of your homeowners insurance policy is influenced by several factors, such as your location, the value of your home, and your claims history. Allstate provides a balanced combination of affordability and comprehensive coverage, making it a suitable choice for many homeowners.

Cheapest Homeowners Insurance In Salt Lake City If You Have an Older Home

For homeowners with older homes, State Farm provides the most affordable rates, averaging $1,005 per year.

Insurance Company Average Annual Premium
State Farm $1,005
Nationwide $1,070
USAA $1,134
Foremost $1,278
Allstate $1,420

Older homes often carry unique risks and maintenance challenges that can result in higher insurance costs. However, State Farm offers competitive rates and comprehensive coverage specifically tailored to address the needs of older homes, making it a reliable choice for homeowners seeking affordable and effective insurance solutions.

Cheapest Homeowners Insurance for Newly Constructed Homes

For homeowners who own newly constructed homes, Nationwide provides the most cost-effective solution, with an average annual rate of $795.

Insurance Company Average Annual Premium
Nationwide $795
Travelers $876
USAA $1,067
State Farm $1,140
Allstate $1,260

Newly constructed homes often have different insurance coverage needs compared to older homes, and Nationwide is known for offering affordable policies specifically tailored to address these requirements.

Cheapest Homeowners Insurance If You Have Poor Credit

If you have a poor credit score, Nationwide offers the most affordable solution, with an average annual rate of $1,285.

Insurance Company Average Annual Premium
Nationwide $1,285
USAA $1,589
Farmers $1,640
State Farm $1,687
Allstate $2,038

Your credit score plays a significant role in determining your insurance rates, as it is a crucial factor that insurers consider when assessing risk. Nationwide recognizes the importance of providing fair coverage to everyone, regardless of their financial history or credit score.

Cheapest Home Insurance In Salt Lake City for a History of Claims

Homeowners with a history of claims can find an affordable solution with Nationwide, which offers an average annual rate of $1,570.

Insurance Company Average Annual Premium
Nationwide $1,570
USAA $1,609
Farm Bureau $1,672
Allstate $2,389
Foremost $3,710

Having a history of claims can indeed raise concerns for insurers and often result in higher premiums. However, Nationwide believes in providing second chances and offers reasonable rates for homeowners with past claims, ensuring they can still access quality coverage without facing exorbitant costs.

Cheapest Home Insurance Rates for Lots of Personal Property

For homeowners with a significant amount of personal property, Travelers provides the most affordable rates, with an average annual rate of $1,137.

Insurance Company Average Annual Premium
Travelers $1,137
Nationwide $1,579
State Farm $1,710
Allstate $2,131
Auto-Owners $6,598

As your personal property increases, so do your coverage needs, which can lead to higher premiums. Travelers addresses this by offering extensive coverage at reasonable rates, ensuring that all your belongings are adequately protected without breaking the bank.

Best Homeowners Insurance Companies in Salt Lake City, UT

Selecting the appropriate homeowners insurance is not just a requirement; it’s a strategic choice. Salt Lake City’s homes have a diverse history, mirroring its residents’ uniqueness. Hence, finding an insurance provider that offers comprehensive coverage at competitive rates becomes crucial.

To simplify your decision-making process, we’ve curated a list of the top homeowners insurance companies in Salt Lake City, UT. These companies were evaluated based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Refer to our comparison chart below to find the ideal match for your home insurance requirements.

Company Annual Premium
Allstate $893
Nationwide $930
State Farm $1,104
USAA $1,299
Auto-Owners $3,090
Farm Bureau $1,040
Foremost $1,307
State Auto $1,611

Average Home Insurance Rates by Zip Codes

The cost of homeowners insurance in Salt Lake City, UT can vary significantly based on the zip code. Below are tables showcasing rates for different zip codes in Salt Lake City, along with the the cheapest and most expensive zip codes in the area for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
84105 $921
84116 $896
84106 $908
84104 $898
84129 $893

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
84132 $897
84138 $895
84111 $905
84104 $898
84129 $893

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
84180 $925
84103 $921
84112 $910
84114 $912
84106 $908

Average Home Insurance Rates in Salt Lake City, UT by Deductible Amount

The deductible you select for your homeowners insurance policy has a notable impact on the premium rates in Salt Lake City, UT. Here’s a breakdown of how the average rates for home insurance vary based on different deductible amounts:

Deductible Amount Annual Rate
$500 $975
$1,000 $837
$2,000 $740

Average Home Insurance Rates in Salt Lake City, UT By Coverage Amount

One critical factor that impacts your insurance premium is the amount of dwelling coverage you choose. This represents the maximum amount your insurance company will pay to rebuild or repair your home in case of damage or destruction.

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

Dwelling Coverage Amount Average Annual Premium
$200,000 $700
$250,000 $803
$300,000 $899
$350,000 $1,035
$400,000 $1,120

Average Home Insurance Rates in Salt Lake City, UT by Company

Here’s a comparison table showcasing annual premiums from some of the top providers in Salt Lake City:

Company Annual Premium
Allstate $893
Nationwide $930
State Farm $1,104
USAA $1,299
Auto-Owners $3,090
Farm Bureau $1,040
Foremost $1,307
State Auto $1,611

How Much is Homeowners Insurance for Other Cities in Utah?

The following is a  detailed comparison chart that showcases the cheapest companies and their annual premiums across various cities in Utah.

City Annual Premium
Ogden $930
St. George $873
West Jordan $879
West Valley City $910

Getting Online Homeowners Insurance Quotes in Utah

Informative platforms such as Insuranceopedia make it easy to find the best coverage for your specific needs with just a few clicks. By offering quick online quotes from a range of top-rated insurers, Insuranceopedia allows you to compare rates easily.

Simply input your details, and let us handle the heavy lifting by presenting you with a selection of options tailored to your requirements. This enables you to confidently select a policy that offers the best value, balancing cost with comprehensive coverage.

FAQs

Who has the cheapest home insurance in Salt Lake City ?

Allstate offers the most affordable home insurance in Salt Lake City, Utah, with an annual premium of $893.

What is the average cost of home insurance in Salt Lake City, UT?

The typical expense for homeowners insurance in Salt Lake City, Utah, is around $1,899 per year.

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