The Best Idaho Auto Insurance Companies
Thanks to its low population density and few accidents, Idaho boasts the lowest auto insurance rates in the nation. The typical annual premium comes in at $692, which is $317 below the national average. Even so, it still pays to shop around for an auto insurance company that will give you the best rate for the coverage and endorsements you require. Because insurance premiums are so personalized, we can’t tell you which company will be the cheapest for you. We recommend using our reviews of the five best auto insurance companies in Idaho to see which will cater to your priorities, coupled with our quote tool to see what each company can offer you.
How We Found the Best Idaho Auto Insurance Companies
To find the best auto insurance in Idaho, we used a methodology similar to that in our review of the best auto insurance nationwide. After identifying the top auto insurers in the state by market share, we checked with independent rating agencies A.M. Best and Moody’s to ensure that these insurers had the financial clout necessary to pay out claims. Then we looked at their coverage options, endorsements, and discounts to see which companies offered the most protection for the best price. We also compared customer satisfaction ratings from J.D. Power and Consumer Reports to make sure the companies are as easy to work with as they claim. With all that in mind, we tested the quote process for ourselves — the best auto insurance company should make the insurance process quick, painless, and hassle-free.
The 5 Best Auto Insurance Companies in Idaho
State Farm received mostly positive reviews from its customers. That may be due to its incredible coverage limits and large number of endorsements. Its coverage ranges from the state minimum all the way up to 500/500/500, so it’s an excellent choice if you are interested in a high level of protection, and collision deductibles extend from $250 to $2,000. You can beef up your policy even more with a whopping 12 endorsements, more than most of our top picks. State Farm is also one of the only companies on this list to offer ridesharing coverage, particularly important if you’re an Uber or Lyft driver.
Our quote from State Farm fell in the middle of the pack, but there are ways to reduce this cost. Aside from standard discounts, State Farm’s Drive Safe & Save and Steer Clear programs incentivize safe driving for further savings. The Drive Safe & Save program monitors your driving for several months and will adjust premiums based on your risk level. Similarly, the Steer Clear program is a driver safety course available to drivers under 25 that may result in discounted premiums.
Farmers is another solid option if you’re interested in high policy limits. Like State Farm, it enables you to purchase up to 500/500/500 of liability protection, which should be more than enough for most drivers. It also offers a better selection of deductibles than State Farm, ranging from $100 to $2,000. Unfortunately, there is no option to waive your comprehensive deductible like there is with State Farm and Liberty Mutual — meaning there’s no way to avoid out-of-pocket costs in the event of a claim.
Farmers is your best bet if you are hoping to build a custom policy with endorsements. In addition to common offerings like collision, comprehensive, and uninsured motorist coverage, Farmers also offers more unusual options, like ridesharing and custom equipment coverage, as well as new car replacement. There’s also accident forgiveness, small claims forgiveness, incident forgiveness, and comprehensive claims forgiveness — all designed to keep your rates from going up following minor accidents.
Though we opted out of these optional coverages, Farmers still gave us our most expensive quote. Fortunately, where Farmers lacks in upfront savings, it makes up for with an impressive 14 auto insurance discounts. These include savings for home ownership, paying in full, and having safety features installed on your vehicle. There’s also the standard multi-car, multi-policy, and safe driver discounts. All of which may help to drive down your total cost.
Liberty Mutual impressed us with its uncommon endorsements. In addition to new car replacement, there’s also better car replacement, which pays to replace your totaled car with a model one year newer with 15,000 fewer miles. Lifetime repair guarantee is also an option: If you get your car repaired at an approved facility, any repairs will be covered for the life of your vehicle. And if you’d like to eliminate your collision deductible altogether, sign up for the Deductible Fund. Every year you go without an accident, your deductible will decrease until it vanishes entirely.
Our quote from Liberty Mutual fell on the higher end, but its discounts are highly individual and are worth looking into. If you own a hybrid vehicle, or if you’re newly graduated, married, or retired, there’s a discount for you — discounts you won’t find with any of our other picks.
Customers are divided on their opinions of Liberty Mutual; while it rated well with Consumer Reports, J.D. Power wasn’t so generous. Liberty Mutual received only an average rating overall and a 2/5 for its claims handling. They were rated 24 points below the industry average for overall customer satisfaction, at 847/1,000.
Farm Bureau Mutual of Idaho
Something to note upfront: Farm Bureau Mutual of Idaho only offers auto insurance to its members. In order to join, you must reside in Idaho and pay the yearly membership fee, which ranges from $40 to $50 depending on where you live. It may be worth the relatively low yearly fee — if Farm Bureau offers you a stellar deal on your premiums, that yearly fee might pay for itself. You can’t get a quote online, but we recommend calling your local Farm Bureau Mutual of Idaho agent to learn more about their rates and any discounts you may be eligible for. In addition to insurance, you also get access to a number of member benefits, including discounts on a variety of goods and services.
Farm Bureau Mutual of Idaho only provides basic coverages like collision and comprehensive coverage — there’s no option to add accident forgiveness, rental car reimbursement, or roadside assistance — but the basics may be all you need. If you’re not looking for a highly customizable policy, the reward could be a lower rate.
Because it’s a local insurer, Farm Bureau Mutual of Idaho didn’t make it into the J.D. Power or Consumer Reports surveys, so we weren’t able to gauge how well they treat their customers. However, it’s the second-largest insurer in the state, meaning its local reputation is enough for a significant portion of Idahoans.
Unlike the rest of our top picks, USAA is a little more exclusive, available to military personnel and their immediate family only. Among those who qualify: current military members, including active duty, Guard, Reserve, and Officer candidates (ROTS, OTS/OCS, and Academy), military vets and retirees who have served honorably, spouses of current former service members, and children of USAA members.USAA was rated an A++ by A.M.’s Financial Strength Rating and 5/5 stars (903/1,000) by J.D. Power’s Auto Claims Satisfaction study. USAA is among the best insurance providers in the space, and they are known for their customer-friendly service and quick manner of settling claims.
Guide to Idaho Auto Insurance
Idaho’s rural environment can mean big savings
Idaho has one of the lowest population densities in the nation, with just 19 people per square mile. To insurers, this is good news because it means lower traffic density, which translates into fewer accidents. It also minimizes the number of auto thefts; in fact, Idaho ranks second-lowest in the nation for vehicles stolen each year.
Of course, your rates will vary significantly depending on where you live, with urban dwellers paying more on average than their rural counterparts. Boise residents, however, will be pleased to know that it is one of the least expensive cities in the nation for auto insurance. In our quote analysis, we were able to get coverage in Boise for less than $100 per month.
But even though Idaho sees such a low percentage of accidents, it’s still smart to purchase as much protection as you can afford. The average bodily injury liability claim costs over $16,000, and that price is likely to rise as the cost of medical care increases. If you find yourself in a severe accident, the state minimum coverage may not be enough to cover the damages.
Rock-bottom rates don’t apply to comprehensive coverage
While Idaho may boast the lowest overall premiums in the United States, its comprehensive coverage is not the cheapest. The cost for this type of coverage varies significantly depending on the type of vehicle you drive, where you live and your driving history, but on average an Idaho driver will pay $116.55 — about $20 more per year than the average rate in Oregon.
Part of the reason this coverage is more expensive in Idaho is because vehicle repair costs are slightly above average compared to the rest of the nation. Idaho’s average repair cost per claim is $2,883, compared to just $2,588 nationwide. Insurers must pay more in order to get your car repaired, so they pass those extra costs along to you in the form of higher premiums.
But that doesn’t mean you should go without comprehensive coverage. In fact, if you have a lease or loan on your vehicle, your lender will likely require you to have it in order to safeguard their investment. Comprehensive coverage is essential for protecting your vehicle against storm damage, theft, vandalism, and other non-collision incidents. If you don’t have this coverage, you’ll be left to pay for any repairs out-of-pocket.
Your best bet is to shop around and see which company offers you the most affordable rate for comprehensive coverage. You can also save yourself some money by opting for a higher comprehensive deductible.
Be aware of Idaho’s minimum liability
All states mandate that their drivers carry a minimum amount of liability coverage. In Idaho, you must have at least:
- $25,000 bodily injury coverage per person
- $50,000 bodily injury coverage per accident
- $15,000 property damage coverage per accident
This is commonly abbreviated as 25/50/15 coverage. Whenever possible, it’s better to purchase more than this. It’s not uncommon to see claims exceed these basic coverage limits, especially if someone was injured in the crash. A lack of coverage could mean hefty out-of-pocket costs. For example, if you injure someone and you owe them $50,000 for medical expenses, the minimum liability coverage will only cover half — you’ll be left to come up with the other half yourself. As a rule of thumb, it’s best to purchase the highest amount of coverage you can afford.
If you’re looking to save on your auto insurance, shopping around is a better strategy than cutting coverage. Each company has its own algorithms that weigh your risk based on the type of car you drive, where you live, your creditworthiness, and your driving record. By comparing quotes from multiple companies, you’ll be able to find the one that offers you the best deal on the most coverage. Our top picks offer a variety of endorsements, discounts, and add-ons, and they’re a great place to start your search.
Idaho Auto Insurance FAQ
The cost of your auto insurance will vary depending on a lot of personal factors like credit score, accident history, and car type. The average annual premium for auto insurance in Idaho is $692. This is well below the national average of $1,009, though that may not be true for everyone.
Probably not. Idaho only requires liability insurance, which leaves you very much unsure whether or not you’ll be fully covered. The state minimum is just that– the bare minimum enforced by the state in order to avoid penalty. However, we suggest you invest in as much coverage as possible, despite the state minimum. The average claim is thousands of dollars, if you’re not protected, you’ll end up paying much more out-of-pocket.
What are some of the different types of car insurance?
- Bodily injury (BI) and property damage (PD) liability: pays for damage you cause to people or their property.
- Personal injury protection (PIP): covers medical expenses and typically any wages lost.
- Collision Coverage: covers damage done to your car in a collision.
- Comprehensive coverage: covers all non-collision related damage done unto your car (vandalism, fire, theft, etc.).
- Uninsured and underinsured motorists (UM,UIM): cover you if the driver at fault doesn’t have insurance or is underinsured.
Insurance companies use the following factors to arrive at your premium:
- Driving record
- Vehicle make and model
- Driving patterns and tendencies
- Commute distance.