Best and Cheapest Idaho Home Insurance as Rated by Customers in 2023
You probably never want to think about the chance that you may experience damage to your home and need to file a homeowners insurance claim. Unfortunately, there are many things that your home may experience that would require a claim. But having the right Idaho home insurance company can put your mind at ease that if something were to happen, it would be taken care of.
To help you be more confident in your Idaho homeowners insurance company, we have reviews and rankings for hundreds of homeowners insurance companies in Idaho so you can evaluate and compare the best Idaho home insurance companies. In the table above, you can sort through every homeowners insurance company ranked on Clearsurance. Next to each insurer you’ll find the company’s rating, which is based exclusively on the reviews and ratings provided by customers. Note: Only those companies with at least 25 homeowners insurance reviews are eligible to appear in the best Idaho homeowners insurance rankings.
If you’re looking for additional information on one of the best homeowners insurance companies in Idaho, you can visit the company’s profile page where you’ll learn about the company, additional coverages and potential discounts offered. You can also read reviews to see what other policyholders have to say about the home insurance company.
On this page:
- Best cheap homeowners insurance rates in Idaho for a $200K dwelling
- Best cheap homeowners insurance rates in Idaho for a $400K dwelling
- Idaho property crime statistics
- Idaho disaster statistics
What are the average homeowners insurance rates in Idaho? Compare the average rates in Idaho in the table below for the five largest home insurance companies in the state. Farm Bureau Mutual Insurance Company of Idaho has the cheapest average rates for a $200K dwelling.
|Company||Average rates for $200K dwelling|
|Farm Bureau Mutual Insurance Company of Idaho||$337|
|Farmers Insurance Group||$757|
|State Farm Insurance Company||$1,228|
These rates are based on a $200,000 dwelling with the following coverage limits: $100,000 personal property, $20,000 loss of use, $20,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Idaho will differ. Rate data is provided by Quadrant Information Services.
Compare the average homeowners insurance rates in Idaho in the table below, which includes premiums for five home insurers. Of these companies, Safeco Insurance has the cheapest average homeowners insurance rates for a $400K dwelling.
|Company||Average rates for $400K dwelling|
|Farm Bureau Mutual Insurance Company of Idaho||$652|
|Farmers Insurance Group||$1,395|
|State Farm Insurance Company||$1,832|
These rates are based on a $400,000 dwelling with the following coverage limits: $200,000 personal property, $40,000 loss of use, $40,000 other structures, $300,000 liability and $5,000 medical. The policy has a $1,000 deductible. The house used for the profile was constructed in 2004 and the individual had a good insurance score. The rates displayed should only be used for comparative purposes as individual rates in Idaho will differ. Rate data is provided by Quadrant Information Services.
Theft and vandalism or malicious mischief are among the 16 perils a standard homeowners insurance policy protects you from. So, how does crime in Idaho compare to other states around the country? The FBI published the following statistics on crime in Idaho for 2016:
- Property crime - 29,357
- Burglary - 6,318
- Larceny theft - 20,962
All three statistics for Idaho, when compared to the national average rate per 100,000 inhabitants, rank below the national average.
Weather-related incidents are typically among the costliest homeowners insurance claims. FEMA has published statistics for each state since 1953. Data is updated through August 2018. Here’s a look at the Idaho federally declared disasters since 1953:
- Fire - 16
- Flood - 16
- Severe storm - 7
- Earthquake - 1
- Hurricane - 1
- Snow - 1
- Volcano - 1
How are homeowners insurance rates calculated in Idaho?
Ever wonder why you pay what you do for home insurance in Idaho? Some things may be obvious, like the age of your home. But other factors that contribute to the price of homeowners insurance may not be as obvious. Here’s a list of some of the things homeowners insurance companies consider when quoting you a rate:
- The level of coverage required
- The size of your mortgage
- Your credit score
- The square footage of your home
- The geographic location of your home in Idaho
- The condition of your home
- The age of your home
- The proximity of your home to a fire station
- Your previous claims record
- The amount of your deductible
- Optional add-ons like umbrella insurance
Zillow estimates that homeowners can expect to pay approximately $35 each month for every $100,000 of your home's value.
The cost of homeowners insurance in Idaho can vary significantly based on factors such as age, gender and ZIP code, but the price is not the only factor that determines the best insurance provider in the country.
Moreover, even though Idaho is not prone to natural disasters, homeowners should still know what to look for when choosing a policy. Compared to the national average, Idaho homeowners insurance rate is 37% cheaper. The state ranks so low because it is not prone to natural disasters such as earthquakes, hurricanes, or tornadoes, therefore homeowners don't need extensive coverage.
Some of the standard homeowners insurance coverage options include: dwelling coverage, other structures protection, personal property protection, liability coverage, additional living expenses and flood insurance.
How does Clearsurance rate and rank the best homeowners insurance companies in Idaho?
Consistent with its mission towards greater transparency, Clearsurance does not keep its rating and ranking formulas in a black box. Our algorithm analyzes a range of inputs from our independent community of insurance customers, including:
- Customer Service
- Claim service
- Likelihood to renew
The algorithm also takes into account the percentage of what customers say the company does well vs. the percentage of what customers say the company could do better.
The Clearsurance customer ratings and rankings are derived entirely from customer reviews and ratings.
Homeowners Insurance Guide
Your home is likely your most valuable asset, making it that much more important that you insure your home with one of the best Idaho homeowners insurance companies. But beyond just picking a company, it’s crucial to have the right coverage and to understand that coverage. Did you know that a standard homeowners insurance policy has six types of coverage? And did you know that there are usually 16 types of perils found in a homeowners insurance policy?
At Clearsurance, we want to make sure you have a strong understanding of your homeowners insurance coverage and what it all means. Check out our homeowners insurance guide to become a smarter insurance customer. And for more educational content on other homeowners insurance topics, check out our homeowners insurance blog!