Insurance
Utah Homeowners Insurance Calculator: Estimate Your Policy Cost
Updated: November 21, 2024
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Rates updated:
Dec 21, 2024
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MoneyGeek reviewed average home insurance costs in Utah to find the most affordable options for various profiles. Based on this analysis, we found that Farmers offers the cheapest homeowners insurance in Utah.
MoneyGeek also analyzed providers with the best balance of cost and quality service to help you find the best homeowners insurance in Utah.
How to Estimate the Cost of Your Homeowners Insurance Policy in Utah
The cost of homeowners insurance in Utah varies based on individual factors, like the replacement cost of your home, so it is essential to get a personalized estimate based on your profile.
Factors like your credit score, dwelling coverage level and personal property value will impact how much you pay for homeowners insurance. MoneyGeek’s Utah homeowners insurance calculator allows you to get a personalized estimate by inputting these factors into the calculator.
Utah
Location is among the key factors in homeowners insurance costs. States with higher crime rates or greater frequency of natural disasters will be more expensive for home insurance since the risk to the insurer is higher.
On average, Utah is cheaper for home insurance than most other states.
Dwelling Coverage
The dwelling coverage of your home is the amount it would take to rebuild it. This is calculated based on factors like the size, age and other features of your home.
If your dwelling coverage is high, you will pay more for homeowners insurance than someone with less dwelling coverage. The average dwelling coverage in Utah is $250,000.
Deductible
The deductible on your home insurance policy will impact your premium. Policies with higher deductibles usually cost less in premiums.
However, before choosing a high-deductible policy, remember that this is the amount you will need to pay out of your pocket when filing a claim.
Liability
Homeowners insurance includes liability insurance to cover you against damages incurred if a third party is injured in your home.
The level of liability insurance you choose will impact your homeowners insurance costs. However, adding tens of thousands of dollars to your liability limits will only raise your premium by a few dollars, so it makes sense to get enough liability coverage to cover all your assets.
Personal Property
The personal property in your home is covered by your homeowners insurance policy. This includes furniture, electronics and other personal effects like clothing. The higher the personal property limit on your policy is, the higher your premiums will be.
To ensure your personal property is sufficiently covered in case of loss or damage, use the personal property calculator to determine how much coverage you need.
Credit Score
Your credit score will impact the cost of home insurance in Utah. Since homeowners with low credit scores are more likely to submit claims, they will typically pay higher premiums for home insurance than those with good or excellent credit.
Personal Property Coverage Calculator
When figuring out how much renters insurance you need, experts recommend the standard $100,000 in liability insurance and enough personal property protection to cover your possessions. Use MoneyGeek's calculator to estimate the value of your possessions so you know how much personal property coverage to buy.
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Clothes, shoes, bags, belts, hats, gloves, etc.
Average Cost of Home Insurance in Utah
Utah's average home insurance cost is 56% cheaper than the national average of $2,417, making Utah the third cheapest state for homeowners insurance. For the recommended dwelling coverage of $250K, homeowners in Utah can expect to pay an average of $1,069 per year.
If you need a higher or lower dwelling coverage limit, you can use the table below to compare rates based on that amount.
Average Annual Premium in Utah for Homeowners Insurance
| $100,000 | $900 |
| $250,000 | $1,069 |
| $500,000 | $2,571 |
| $750,000 | $3,648 |
| $1,000,000 | $4,908 |
| $2,000,000 | $10,934 |
| $3,000,000 | $17,649 |
MONEYGEEK EXPERT TIP
When buying homeowners insurance in Utah, the dwelling coverage limit is one of the most important factors. Dwelling coverage is the replacement cost of your home and refers to how much it would take to rebuild your home in case of a total loss.
The dwelling coverage of your home is based on factors like the age, size and shape of your home. Other key features of your home, like building materials, flooring type, heating and plumbing, are also important in determining the dwelling coverage.
You can get an estimate of the replacement cost of your home from a professional appraiser.
Frequently Asked Questions About Home Insurance in Utah
MoneyGeek answered commonly asked questions to help you learn more about the cost of homeowners insurance in Utah.
How much does homeowners insurance cost in Utah?
Homeowners insurance in Utah costs an average of $1,069 per year, 56% less than the national average. Overall, Utah is the third-cheapest state for homeowners insurance with $250K dwelling coverage.
How do I know how much dwelling coverage to get?
The average dwelling coverage for Utah is $250K, but the best limit for you will depend on the size, age and other vital features of your home. To get an accurate dwelling coverage estimate, consult a professional appraiser or your insurer.
Insurance
Methodology
To determine the average cost of homeowners insurance in Utah, MoneyGeek sourced pricing data from Quadrant Information Services.
MoneyGeek chose a standard home profile to provide the most reliable and relevant data for developing a thorough analysis of homeowners insurance.
This standard home profile consists of the following attributes:
- Construction year: 2000
- Construction type: Frame
- Composition roof
- Three-mile radius from the fire department
- The assumed value of other structures on the property: 10% of the dwelling coverage
- Personal property coverage: 40% of the dwelling coverage
- Liability limit: $100,000
- Deductible: $1,000
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.