Best homeowners insurance companies in Idaho for 2024

Compare the best homeowners insurance companies in Idaho

To find the best homeowners insurance in Idaho, we looked at which companies write the most policies for Idaho homeowners. Then we looked at coverage options, discounts, average rates and third-party data, including the 2024 J.D. Power U.S. Home Insurance Study. We also analyzed 2024 rate data acquired from Quadrant Information Services, which indicates that the average premium in Idaho is $1,282, or $107 a month, for $300,000 in dwelling coverage. Lastly, we looked at each company’s website to see which one makes it easiest for its customers to handle their insurance needs.

We took all this information and assigned Bankrate Scores for each insurance provider out of a possible 5.0 points to help make it easy for you to quickly compare carriers. Our list of top home insurers in Idaho includes USAA, Allstate, Travelers, State Farm and American Family.

The top 5 home insurance companies in Idaho

Additional Idaho home insurance companies to consider

Idaho Farm Bureau

Oregon Mutual

Cheapest home insurance companies in Idaho

Bankrate knows that paying for home insurance probably isn’t your favorite task on your to-do list. However, if you get a lower rate, it can help make paying for coverage a less bitter pill. Below are Bankrate’s picks for the cheapest home insurance companies in Idaho, and what they charge on average for $300,000 in dwelling coverage.

How to get cheap home insurance in Idaho

Although home insurance isn't mandated by the state the way car insurance is, your mortgage holder will likely require you to purchase a policy. Even if you don't have a mortgage, however, home insurance can save you thousands of dollars if you are faced with repairs or need to rebuild your home. Having said that, you don't want to pay more for your policy than you need to. Here are some strategies for finding the cheapest Idaho homeowners insurance.

• Shop around: Many insurance experts recommend that you gather several quotes when looking for the best policy, rather than assuming that the first quote will be your lowest price option. Once you have a handful of quotes, you can choose the most affordable one. Just be sure you are asking for the same levels and types of coverage from each company.
• Bundle your insurance: One of the most common insurance discounts is for bundling — that is, for purchasing more than one policy from the same company. If you are happy with the company that supplies your car insurance, for example, choosing it for your home insurance as well may give you an automatic discount.
• Increase your deductible: The deductible is the amount you pay before your policy kicks in after a covered claim. Increasing it is likely to reduce the amount you pay monthly for your premium; just be sure that you select an amount you feel comfortable paying on short notice.

Best home insurance discounts in Idaho

When looking for the best homeowners insurance in Idaho, one factor to take into consideration is the number of discounts that are available to you. Most insurers have at least a few, and many of them are fairly easy to qualify for. A knowledgeable agent can help you ensure that you're getting all the discounts possible. Here are some of the more common ones in Idaho:

How to save on home insurance policy renewals in Idaho

Home insurance policies are usually one-year contracts, which leaves plenty of time between your policy renewal dates to lower your rate. It will ultimately depend on your insurer, but the following steps could help you save:

• Raise your credit score: Your credit score is one of the factors that Idaho insurers can take into account when determining your premium. Individuals with a high credit score are more likely to earn a favorable rate, because they have a demonstrated ability to pay their bills in full and on time. Although it may not happen overnight, improving your credit score could result in a lower rate for your insurance policy.
• Scan for discounts: It’s entirely possible that you missed a discount when you first signed up for your policy, or by the time your policy comes up for renewal, you may qualify for a new one. Speaking with a licensed insurance agent before your policy renewal date can help you pinpoint some new or new-to-you discounts.
• Raise your deductible: If you are able to afford to raise your deductible, you may see a lower premium as the result. Keep in mind, however, that you would need to pay this amount before your insurance kicks in after a claim, so be careful to raise it only as high as you would be able to comfortably pay at a moment's notice.
• Install a home security system: Many insurers offer discounts to homeowners with upgraded home security systems. For some, this could be as simple as adding a deadbolt. For others, it could be as involved as adding a camera system throughout your home. You might want to speak to a licensed insurance agent before pursuing this strategy to make sure what you spend on security does not outweigh a potential discount.
• Bundle your policies: If you’re happy with your home insurance provider, you may consider bundling your home and auto policies together for a discount.

How much is home insurance in Idaho?

Although every insurer has its own proprietary formula for determining home insurance premiums, in general, Idaho rates tend to err on the low end of the spectrum. Currently, the average cost of homeowners insurance in the United States is $2,247 for $300,000 in dwelling coverage, but in Idaho, it is only $1,282. It’s even cheaper than neighboring states Montana and Washington. Montana homeowners currently pay an average of $2,531, while Washington homeowners pay an average of $1,434.

Idaho homeowners insurance rates by city

Idaho is the 14th largest state in the country, which leaves plenty of opportunity for home insurance rates to change across different cities.

*Rates are for $300,000 in dwelling coverage.

What does home insurance cover in Idaho?

There are multiple types of home insurance, the most common being an HO-3 policy. With an HO-3, your dwelling and other structures are covered on an open-peril basis, while your personal property is covered on a named-peril basis. It sounds complex, but what it means is that your dwelling and other structures are protected from all kinds of perils except what is excluded per your policy and your personal property is covered from only what is listed in your policy.

Depending on where you live, your insurer may exclude or limit certain perils. If you live in a high-risk wildfire zone, for example, your insurer may omit wildfire damage from your home insurance policy. To make sure you have adequate coverage, you might want to review your policy with a licensed agent. Here’s what you can typically expect your home insurance to cover in Idaho:

• Weight from snow and ice
• Volcanic eruptions
• Smoke and ash
• Windstorms
• Theft
• Fire
• Falling objects

Additional home insurance coverage types in Idaho

Your policy contains several specific types of coverage. Some of these, such as dwelling coverage, liability and personal property, come with a standard HO-3 home insurance policy. In order to better protect your finances against costly repairs, you may want to consider purchasing additional coverage, such as:

• Flood insurance: Water damage from flooding is typically costly and is not covered in standard home insurance policies, so you may want to consider purchasing a flood insurance policy. If you live in a zone that is considered high-risk for flooding, your mortgage lender may require you to purchase flood insurance, but even if you don’t, flooding can happen anytime, anywhere and the damage it causes can be financially devastating, so you may want to consider this additional financial protection. Flood policies can be purchased through the National Flood Insurance Program (NFIP) or several private insurers.
• Earthquake insurance: Idaho is ranked fifth in the nation for earthquake risk, so you may want to consider purchasing earthquake insurance. In most cases, coverage for damage from earthquakes is available as an insurance endorsement, but talk with your insurance agent to see what is available from your preferred insurance company.
• Wildfire coverage: Idaho is considered a high-risk state for wildfires, so it’s important to ensure that you are covered. Many standard home insurance policies do cover damage caused by a wildfire, but if you are in a particularly high-risk area, you may need to purchase additional coverage. Talk to your home insurance agent when purchasing your policy to ensure you are financially protected against this common Idaho peril.
• Sump pump and sewer backup: Generally, a basic HO-3 policy will cover some plumbing issues, but there may be gaps in the coverage. If you have a sump pump in your basement or are concerned about sewer backup issues, you may want to consider an additional endorsement to give you more robust coverage in the event of a situation that involves clogs or backups in your home's pipes.
• Replacement cost coverage: Your policy is likely to cover replacement of your personal belongings, but not all policies include replacement cost coverage, which does not take depreciation into account and gives you the full amount to allow you to purchase new items like those that were lost.
• Identity theft insurance: As identity theft has become more and more a problem in our technological world, insurers increasingly offer this coverage as an endorsement. It may help you pay for identity restoration or legal bills after a breach.

Common Idaho home insurance problems

According to the Idaho Office of Emergency Management, wildfires and flooding are the two most common natural disasters in the state. And if that weren’t enough, Idaho also experiences earthquakes, volcanic activity and heavy snowfalls. Other disasters Idaho homeowners may have to confront include:

• Windstorms
• Theft
• Lightning strikes

Frequently asked questions

Additional profiles:

• Coverage A, Dwelling: $150,000, $350,000, $450,000, $750,000
• Coverage B, Other Structures: $15,000, $35,000, $45,000, &75,000
• Coverage C, Personal Property: $75,000, $175,000, $225,000, $375,000
• Coverage D, Loss of Use: $30,000, $70,000, $90,000, $150,000
• Coverage E, Liability: $500,000
• Coverage F, Medical Payments: $1,000

Bankrate Scores 

Our Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.