The Best Homeowners Insurance in Idaho for 2023 – NerdWallet

The average cost of homeowners insurance in Idaho is $1,165 per year, or about $97 per month, according to a NerdWallet analysis. That’s less than the national average of $1,820 per year.

We’ve analyzed rates and companies across the state to find the best homeowners insurance in Idaho.

Note: Some insurance companies included in this article may have made changes in their underwriting practices and no longer issue new policies in your state. Even if an insurer serves your state, it may not write policies for all homes in all areas.

If you’re looking to buy homeowners insurance from a well-rated national brand, consider one of these insurers from NerdWallet’s list of the Best Homeowners Insurance Companies.

Homeowners policies from Farmers may include two valuable types of insurance: extended dwelling and replacement cost coverage. Extended dwelling coverage gives you extra insurance for the structure of your house, while replacement cost coverage offers higher reimbursement for stolen or destroyed belongings.

Some Farmers policies also come with perks that can save you money. For example, with claim forgiveness, Farmers won’t raise your rate for a claim as long as you haven’t filed one within the past five years.

As America’s largest insurer, State Farm stands out for its long list of coverage options. Its policies generally include extra dwelling coverage in case it costs more than expected to rebuild your home after a covered disaster. You may also be able to add coverage for things like identity theft, damage from backed-up drains and personal injury liability.

State Farm offers a free Ting device as a perk for home insurance policyholders. Ting is a smart plug that monitors your home’s electrical network to help prevent fires.

Travelers offers a robust online experience. You can use the website to get a homeowners insurance quote, file and track claims, make payments and learn about insurance basics.

Its coverage offerings are similarly strong. For example, you may be able to add extra coverage in case the dwelling limit on your home isn’t enough to rebuild your house after a disaster. One unique option is Travelers’ green home coverage, which pays extra if you want to use eco-friendly materials when repairing or rebuilding your home after a covered claim.

Founded in Madison, Wisconsin, American Family receives fewer consumer complaints than expected for a company of its size. You may be able to customize your policy with optional add-ons such as identity theft, equipment breakdown or service line coverage, which pays for repairs to water, power or other underground lines that run to your house.

Homeowners may be able to save on their premiums by installing smart-home devices, bundling multiple policies or setting up automatic payments.

We like Nationwide for its wide variety of coverage options. For example, its standard homeowners insurance policy generally includes ordinance or law coverage, which can help pay to bring your home up to current building codes after a covered claim. You can add other coverage for things like identity theft and damage from backed-up sewers and drains.

Depending on how much personal assistance you need, you can get a quote for homeowners insurance on the Nationwide website or work with a local agent instead. You can also use the website to pay bills, file claims or check claim status.

USAA sells homeowners insurance to veterans, active military and their families. If you fall into one of those groups, you might want to look into USAA’s offerings. The company’s homeowners policies include some unique perks such as deductible-free coverage for military uniforms and coverage for identity theft.

Homeowners in Idaho can take part in the company’s Connected Home program, which gives you a discount on your policy if you buy and install approved smart home devices. These include water leak sensors, cameras and thermostats.

The average annual cost of home insurance in Idaho is $1,165. That’s 36% less than the national average of $1,820.

In most U.S. states, including Idaho, many insurers use your credit-based insurance score to help set rates. Your insurance score is similar but not identical to your traditional credit score.

In Idaho, those with poor credit pay an average of $2,195 per year for homeowners insurance, according to NerdWallet’s rate analysis. That’s 88% more than those with good credit.

How much you pay for homeowners insurance in Idaho depends on where you live. For instance, the average cost of home insurance in Boise is $1,095 per year, while homeowners in Idaho Falls pay $1,180 per year, on average.

Here are the insurers we found with average annual rates below the Idaho average of $1,165.

Idaho homeowners should make sure their home insurance includes enough coverage for common perils like wildfire, winter weather, flooding and hailstorms.

Over 62,000 acres burned in Idaho in 2023 due to wildfire. With hot weather, high winds and dry conditions, wildfires could spell disaster for properties across the state.

Standard homeowners insurance may cover damage due to fire, but wildfires could be excluded, especially in high-risk areas. Residents of high-risk areas should read their policies closely to understand any exclusions. Pay particular attention to the dwelling coverage limit, which is how much the insurance company will pay to rebuild your house. Check with your insurer to ensure you have enough coverage to rebuild if necessary.

Winter storms in Idaho mean freezing temperatures, high winds and heavy snows. These conditions can lead to roof damage, frozen pipes and other property damage, making adequate homeowners insurance a must for surviving the winter.

Homeowners insurance generally covers winter storm-related damage, but some types of winter weather damage may require extra coverage. For instance, you’ll typically need a separate flood insurance policy to cover flood damage caused by snowmelt, and some insurers won’t cover damages due to frozen pipes if there’s proof of neglect, such as failing to maintain heat in an unoccupied house.

Flooding can occur anywhere in any state, and Idaho is no exception. Standard homeowners insurance does not cover flood damage, so homeowners in flood-prone areas may need to purchase separate flood insurance.

To find out your risk, check out the Federal Emergency Management Agency’s flood maps and RiskFactor.com, a website from the nonprofit First Street Foundation. Even if your property is deemed low risk, it may be worthwhile to purchase flood insurance for extra peace of mind.

Remember that while you can purchase flood coverage at any time, there’s typically a 30-day waiting period before the insurance takes effect. Here’s more information about flood insurance and waiting periods.

Idaho can see severe hailstorms, particularly during the spring and summer, and hail can damage the roof, siding and windows of your property.

Make sure to review your homeowners insurance policy to understand your hail coverage. You may have a separate deductible for wind or hail damage. These are often a flat rate, such as $1,000, or a percentage of your dwelling coverage. For example, your policy may have a $1,000 deductible for most claims and a 1% deductible for hail or wind claims. So, if your house has $250,000 worth of dwelling coverage, you’d have to pay for the first $2,500 of hail damage yourself.

The Idaho Department of Insurance oversees the state’s insurance industry. Its website provides information about homeowners insurance and resources for consumers who want to file a complaint against their insurers. If you have a question, you can reach out through its online form or call toll-free at 800-721-3272.