Home Insurance in Idaho

Idaho homeowners insurance: what you need to know

The average cost for home insurance in Idaho is $982 per year or $82 per month. Premium costs are much better than rest of the US. Home insurance is an optional — but important — product that works to keep your belongings safe in the event your home suffers damage from common incidents. Home insurance protects your house and property from a number of circumstances, such as wind damage, fire, theft, vandalism, and more.

Unlike auto insurance, home insurance isn't priced based on state-level legislation. That said, major gaps exist in homeowners insurance costs from state to state. Homeowners insurance prices in a given state including Idaho may vary based on the total number and value of home insurance claims filed statewide, and depend on the value of the belongings and home insured on the policy.

The best way to acquire a cheap homeowners insurance policy in Idaho is to get quotes from a variety of insurance companies. Learn more about home insurance rates in Idaho via the below breakdown. Remember: your rates will vary, depending on your coverage limits.

 

Table of contents:

1. Rates by company
2. Rates by coverage amount
3. Rates by deductible amount
4. Rates by city
5. Bundling savings
6. Frequently asked questions
7. Natural disaster coverage

 

The cheapest home insurance companies in Idaho

Rates for home insurance in Idaho vary depending on which insurance company you select. Safeco offers the most affordable home insurance policies in Idaho, at only $437 each year. This compares favorably to Idaho's average rate of $982, providing a $545 price cut on average statewide homeowners insurance costs.

Start shopping for affordable homeowners coverage by viewing average rates from top Idaho companies, listed below. Then, see how each company measures up in terms of offerings, rates, and reviews by checking out our list of the best home insurance companies.

 

AFFORDABLE HOME INSURERS IN IDAHO

Insurance Company	Average Yearly Rate in Idaho
Safeco	$437
Farm Bureau	$495
Oregon Mutual	$667
American Family	$824
Enumclaw	$914

 

Idaho home insurance prices by coverage levels

Your chosen amount of homeowners coverage has an impact on the insurance premiums you pay . Homeowners in Idaho who carry $100,000 of dwelling coverage pay an average of $450 per year, while those with dwelling coverage of $400,000 pay around $1,173 per year.

 

POPULAR COVERAGE LIMITS IN IDAHO

Coverage Level	Average Annual Cost
$100,000 Dwelling	$450
$200,000 Dwelling	$706
$250,000 Dwelling	$819
$400,000 Dwelling	$1,173

 

Homeowners insurance deductibles in Idaho

Homeowners have a lot of choices to make when shopping for a homeowners insurance policy, including how much their deductible should be. The deductible is the amount the insured is responsible for paying toward a covered loss. Where you set your deductible can be a large factor in the cost of your insurance coverage.

When choosing a deductible, a good rule of thumb is that the lower your deductible, the higher your premiums. As such, if you want your insurance rates to stay low, aim for a higher deductible. Remember: your deductible should not be set at an amount that you would have difficulty paying in the event of a loss.

Have a look at some of the normal deductibles offered by home insurance companies and an approximation of average premiums.

 

HOME INSURANCE PREMIUMS BY DEDUCTIBLE IN IDAHO

Deductible Tier	Average Annual Homeowners Insurance Rate
$500	$895
$1,000	$819
$1,500	$775
$2,000	$737
$5,000	$641

 

Idaho homeowners insurance costs by city

Not all Idaho cities have the same homeowners insurance rates. Policy pricing depends on local variables such as the number of claims filed nearby, meaning your ZIP code could have a major impact on how much you pay.

The cheapest homeowners insurance in Idaho is found in Meridian. A typical homeowners insurance term in Meridian totals just $852 per year — $130 less than the average homeowners policy in other Idaho cities. The below cities have the most affordable home insurance in Idaho.

CHEAPEST CITIES FOR HOMEOWNERS INSURANCE IN IDAHO

City	Average 12-Month Home Insurance Rate
Meridian	$852
Boise	$857
Eagle	$871
Kuna	$872
Post Falls	$904

 

Looking for information on home insurance in a specific city? Check out our data-driven analyses of Boise.

 

Home and auto insurance bundling in Idaho

If you’re seeking ways to save on your insurance expenditures, consider purchasing your home and auto policies from the same insurance company. A home and auto insurance bundle in Idaho can save you a substantial sum each month on your auto insurance bill. Purchasing bundled policies in Idaho leads to yearly savings of $98.

 

HOME AND AUTO BUNDLING DISCOUNTS IN IDAHO

Avg. Annual Rate (No Bundle)	Avg. Annual Rate (w/ Bundle)	Annual Savings ($)	Annual Savings (%)
$993	$895	$98	11%

 

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Idaho homeowners insurance FAQs

 

Does GEICO offer home insurance in Idaho?

At this time, GEICO does offer home insurance in Idaho. It's mostly like through one of their partners.

Is home insurance required by law in Idaho?

No, homeowners will only be required by your mortgage provider in Idaho.

 

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Natural disaster coverage in Idaho

 

Does home insurance cover earthquakes in Idaho?

Idaho experiences roughly 15 earthquakes each year, which means that Idaho residents may want to look into getting an earthquake insurance policy.* However, such protection doesn’t come standard in home insurance policies. Earthquake coverage is obtained in the form of a scheduled endorsement to your homeowners policy, covering losses that result from land movement.

In addition to the initial earthquake, aftershocks are another serious concern. Aftershocks can be very dangerous and can wreak havoc for days following the initial earthquake. Luckily, you pay a single deductible for losses that results from the initial seismic event as well as all related aftershocks that occur inside a period of 72 hours.

Those who live in areas known for earthquakes often have higher homeowners insurance premiums, especially in the highest-risk areas. Earthquake coverage is not available from most standard insurers, but there are some coverage choices for those who live in states where earthquakes are a real threat. Insurance companies in Idaho sometimes offer earthquake endorsements that protect against damage from seismic events. Keep in mind that earthquake deductibles are usually higher than deductibles for most standard perils. In Idaho, you can expect to pay an additional $161 per year for an earthquake insurance endorsement.

Listed below are a few of the best options for earthquake coverage in Idaho. It's important to treat these figures as estimates only, as rates will vary based on your specific property.

*Source: United States Geological Survey

 

EARTHQUAKE DEDUCTIBLE RATES IN IDAHO

Company	Average Annual Rate w/ Earthquake Endorsement
Liberty Mutual	$377
Farm Bureau	$520
Oregon Mutual	$605
Mutual of Enumclaw	$690
Metropolitan	$748

 

Does homeowners insurance cover flooding in Idaho?

Flood insurance is a necessity for Idaho homeowners.  Flood damage — no matter the cause —is not covered by homeowners insurance policies. To insure your home against flood damage, acquire insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurer. 

Flood insurance coverage from private companies may vary, but NFIP flood insurance covers:

• $250,000 for your home’s structure
• $100,000 for your personal property

If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.