Updated: November 10, 2024
Advertising & Editorial Disclosure
The average cost of homeowners insurance in Wyoming in 2023 is $1,721. That’s $702 less than the national average of $2,423.
Aside from the amount of coverage you get, credit rating significantly impacts premiums in Wyoming. The difference in premiums can be as much as $1,738, depending on the credit score. If your rates have recently increased, we've also analyzed the cheapest plans in the state to help you find the most reasonable options.
MoneyGeek’s home insurance calculator will give you a ballpark estimate of your cost — it’s free, no personal information required, no spam.
Rates updated:
Nov 20, 2024
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Table of Contents
To establish the average cost of homeowners insurance in Wyoming, MoneyGeek used quotes from various providers for a profile that reflects the average homeowner.
These rates reflect the average cost of home insurance in Wyoming as of 2024.
In Wyoming, the average homeowners insurance premium for a policy with $250K in dwelling coverage, $125K in personal property coverage and $200K in liability coverage is $1,721. This figure is less than the national average of $2,423.
Selecting how much coverage you need is a key decision. It should be enough to rebuild your home and cover your personal belongings after a total loss.
For example, in Wyoming, a basic policy offering $100K in dwelling coverage costs an average of $904 annually. On the other hand, a more comprehensive policy with $500K in dwelling coverage averages at $3,411 per year.
| $100K Dwelling / $50K Personal Property / $100K Liability | $904 |
| $250K Dwelling / $125K Personal Property / $200K Liability | $1,721 |
| $500K Dwelling / $250K Personal Property / $300K Liability | $3,411 |
| $750K Dwelling / $375K Personal Property / $500K Liability | $5,037 |
Homeowners insurance premiums in Wyoming can vary significantly among providers, even for comparable coverage levels. For example, AMCO Insurance offers a policy significantly lower than Allstate's despite offering a similar protection level for your home.
Differences in underwriting can lead to substantial variations in premium costs, highlighting the importance of shopping around when looking for the best homeowners insurance in Wyoming.
| AMCO Insurance | $1,079 |
| USAA | $1,473 |
| State Farm | $1,554 |
| Foremost Insurance | $1,915 |
| Allstate | $2,584 |
Wyoming homeowners with poor credit pay an average annual premium of $3,183, $1,462 more than the state average of $1,721. Conversely, those with excellent credit enjoy a lower rate at $1,445 annually. This stark increase demonstrates how credit scores directly influence insurance rates.
While improving your credit score may take time, immediate steps like comparing insurers can lead to savings. In the meantime, you can explore options and find affordable homeowners insurance that fits your budget and needs in less than 15 minutes.
| Poor | $3,183 |
| Below Fair | $2,404 |
| Fair | $1,988 |
| Good | $1,721 |
| Excellent | $1,445 |
The type of roof on your home influences your homeowners insurance premium in Wyoming. Homes with tile roofs, known for their durability, generally see lower insurance costs. On the other hand, shake-treated roofs, which may be more susceptible to damage from severe weather, often result in higher premiums.
Construction materials also play a role in determining insurance rates. Homes built with materials more resistant to common perils, such as fire, can attract lower insurance rates. In contrast, standard frame construction, which is less resistant to certain types of damage, may lead to higher insurance costs.
Use the drop-downs in the table below to see how premiums change based on your home's materials.
| $100K Dwelling / $50K Personal Property / $100K Liability | $904 |
| $250K Dwelling / $125K Personal Property / $200K Liability | $1,721 |
| $500K Dwelling / $250K Personal Property / $300K Liability | $3,411 |
| $750K Dwelling / $375K Personal Property / $500K Liability | $5,037 |
| $1M Dwelling / $500K Personal Property / $1M Liability | $6,707 |
Insuring a newly constructed home in Wyoming averages $840 annually, significantly lower than the $1,721 average cost for older homes. The table below details how premiums for new construction compare to those for homes built in the earlier years.
| Existing Construction (2000) | $1,721 |
| New Construction (2023) | $840 |
In Wyoming, homeowners with a claim-free history for five or more years can expect an average annual premium of $1,721. However, filing just one claim can increase the average premium to $2,103, while two claims within the past five years may raise it to $2,423.
| Claim free for 5+ years | $1,721 |
| 1 claim in past 5 years | $2,103 |
| 2 claims in past 5 years | $2,423 |
In Wyoming, wildfires and flooding pose the greatest risks to homes. While most homeowners insurance policies cover wildfire damage, flooding is not always covered by home insurance.
Getting a good deal on homeowners insurance in Wyoming is within reach if you know how certain factors affect your premium rates. Here's how to find the best deal for you.
Assess how much coverage you need for your home and personal belongings.
Check different provider prices and compare home insurance quotes to find the best rates and coverage.
Bundle insurance policies for possible discounts.
Ask about discounts for security systems and more.
Choose a deductible that balances cost and coverage.
Check insurer's claims experience and customer service. The higher the ratings, the better.
Homeowners in Wyoming looking to trim their insurance costs may find value in bundling their home and auto insurance policies. Wyoming residents can save up to 10% on their combined multipolicy bundle, which translates to between $237 and $516 of annual savings. It is also worth looking into Wyoming's best home and auto bundles for maximum possible savings.
Wyoming residents can lower their homeowners insurance costs with various discounts.
Remember, to maximize your discounts, inquire about them when obtaining a quote.
AMCO Insurance offers the lowest average premium in Wyoming at $1,079. Learn about cheap national providers.
Damage from wildfires, a common disaster in Wyoming, are generally covered by homeowners insurance. For more, see Does Homeowners Insurance Cover Wildfires?
Flood insurance is not typically included in a standard home policy. It can be purchased through the National Flood Insurance Program or a private flood insurer, and some home insurers offer it as an endorsement.
The coverage amount is a significant factor that impacts homeowners insurance premiums in Wyoming, with a premium difference of around $4,133 between the lowest and the highest coverage.
Bundling home and auto insurance in Wyoming can save you up to 10% on premiums, or up to $516 annually.
Here's a curated list of tools and information to help you navigate insurance options in the Cowboy State:
About Mark Fitzpatrick
Mark Fitzpatrick is a Licensed Property and Casualty Insurance Producer and MoneyGeek's Head of Insurance. He has analyzed the insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. He has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
