To help you find the best homeowners insurance companies in Idaho, we reviewed the top providers by market share, premiums, financial strength, customer service, and more. Based on our findings, our top pick for Idaho homeowners insurance is American Family. Below, we have also reviewed the pros and cons for Metropolitan Insurance, Farm Bureau Mutual, Grange Insurance Association, and Farmers Insurance.
The 5 Best Homeowners Insurance Companies in Idaho
- American Family Insurance
- Metropolitan Insurance
- Farm Bureau Mutual Insurance Company of Idaho
- Grange Insurance Association
- Farmers Insurance
|American Family Insurance||Metropolitan Insurance||Farm Bureau Mutual Insurance Company of Idaho||Grange Insurance Association||Farmers Insurance|
|Our review||Our review|
|A.M. Best Financial Strength Rating||A||A+||A||A-||B++|
|J.D. Power Overall Customer Satisfaction Score||3/5||2/5||N/A||3/5||3/5|
|Online Quote Tool||✓||X||✓||X||✓|
|Compare rates||Compare rates||Compare rates||Compare rates||Compare rates|
Average Cost of Homeowners Insurance in Idaho
According to the Insurance Information Institute, the average cost of homeowners insurance in Idaho is $730. This is significantly lower than the national average, which is $1,211.
Keep in mind that there are many factors that affect what you’ll pay for coverage. Some of these factors include:
- Age, size, location, construction, and condition of home
- Type of heating (is there a wood stove?)
- Type of Policy
- Credit score
- Marital status
- Closest fire station
Because each provider differs in how it determines premiums for each homeowner, the most accurate way to assess your premium is to obtain a quote directly from the providers.
Home Insurance add-ons that will further protect you-
Idaho is no stranger to seasonal weather and the Southeast and North Central portions of the state have also been known to suffer flash floods on occasion.
Traditional homeowners policies may not include flood insurance, which you would need to purchase separately from your provider or the National Flood Insurance Program (NFIP).
To assess your home’s proximity to flood zones, put your address into the FEMA flood map.
The Other Structures add-on can protect any buildings not structurally attached to your home, such as:
Well and Septic
Well and Septic coverage accounts for any water damage related to your septic system that is not related to flood damage.
Water and Sewer Backup
Water and Sewer backup is another flood-damage look-alike, so having this add-on will protect you financially in the event of a claim where the cause of loss may be up for dispute.
Idaho is not immune to earthquake activity. In 2017 it had two 5.3 earthquakes one after the other, and then over a 100 aftershocks the days after. This is because there are three major fault lines that run through the state.
Rather than running the risk of paying out of pocket for an unexpected earthquake, consider this add-on.
A Note on Wildfires
According to the Insurance Information Institute, over 171,000 Idaho homes are at risk of wildfires.
While wildfire coverage is one of the standard perils every HO-3 policy protects against; it’s crucial if you live near a wildfire-prone area to insure for 100% of your home’s value.
A Note on Tornadoes
Tornadoes don’t occur very often in Idaho, but they do happen on occasion. Wind damage is covered by most policies, but check with an agent to make sure there aren’t any exceptions for tornado damage caused by wind.
Helpful Resources for Idaha Homeowners
- Home Inventory App
- Guide to Natural Disasters
- Idaho Flood Maps and Floodplain Information
- Guide to Basic Coverages
Apply Online or In-Person
Applying online or in-person is a matter of preference, though some may prefer the face-to-face interaction when discussing policies in detail.
For those who prefer a digital approach, most providers offer online options for applying.
If you are buying a home, lenders require you to have a homeowners insurance policy in place before you can close. Although the state does not legally require homeowners to have their home insured, it is always recommended as a best practice.
It’s important to keep your lender updated on insurance changes and never leave gaps in coverage or you may face fines or penalties.
What You Need to Apply
Home inspection reports come in handy during the application process, as your inspector will have already answered many of the questions you will be asked.
Depending on the provider, you may also be required to supply details regarding any extensive renovations or repairs.
To determine the best homeowners insurance provider in Idaho, we used a few key factors. First we looked at each company’s market share in the state and selected only the largest providers. We then analyzed each company’s AM Best and J.D. Power ratings, as these scores are indicative of claim fulfillment and customer satisfaction.
From here, we then compared other relevant factors such as premium costs, discounts, and online resources.
On the basis of these findings, the following providers were selected for your review.
Best Idaho Homeowners Insurance Companies
American Family Insurance
- Variety of online tools
- Competitive premiums
- Multiple discounts
- Average customer satisfaction
American Family Insurance is our top choice based on the combination of competitive premiums (under half the national average), the multitude of online tools offered, and the discounts, such as the home safety device discounts. Many of the online resources are free to non-members, too.
One drawback with American Family is that it has only achieved ‘average’ customer satisfaction with its customers.
- Informative website
- Easy to achieve discounts
- Low premiums
- Can’t file a claim online
- Below average customer satisfaction
Metropolitan Insurance has a modern, highly-informative website that benefits members and non-members alike. This provider also makes it easy to achieve discounts that help lower already low premium costs, like having basic safety features in your home such as smoke detectors or sprinkler systems.
One of the major limitations, despite the informative website, is that members can’t file a claim online. Additionally, the provider receives only average customer satisfaction with J.D. Power.
Farm Bureau Mutual Insurance Company of Idaho
- Low premium
- Multiple discounts
- Farm and ranch coverage
- Not ranked by J.D. Power
Farm Bureau Mutual Insurance Company of Idaho makes our list based on its specialized knowledge and policies for farm and ranch owners. Additionally, it averages the lowest premiums in the state.
Customer satisfaction has yet to be verified by J.D. Power, but our preliminary investigations revealed no sign of significant negative feedback.
Grange Insurance Association
- A+ rating with BBB
- Offers a variety of discounts for members
- Lack of online tools and resources
Grange has served farm and ranch owners in Idaho and five other states since 1894. It offers policies with the state’s climate and agricultural considerations in mind, and provides discount opportunities for things you would likely have in your home anyway, such a smoke detector.
Though it’s not accredited with the BBB, Grange has earned an A+ rating with the Better Business Bureau. Unfortunately, Grange is a bit outdated in the online resources department compared to other providers on this list.
- Strong online presence
- Multiple policies and coverage options
- Offers claim forgiveness
- Not as financially strong as other companies
Unlike Grange, Farmers Insurance has a sleek website that makes it easy to learn about and update your policy. It also has a three-tier policy structure which makes it easy to select customizable coverage. Additionally, it offers claim forgiveness which affects possible increases in your premiums.
Financial strength is the one area where Farmers does not shine among the competition. AM Best gives it a B++ rating, which is not as high as the other providers on this list.
The Cheapest Homeowner Insurance Companies In Idaho
|Homeowner Insurance Companies||Average Annual Premium|
|Farm Bureau Mutual Ins. Company of Idaho||$488|
|Grange Insurance Association||$524|
|Oregon Mutual Insurance Company||$524|
|American Family Insurance||$537|
|Mutual Of Enumclaw Insurance Company||$620|
|Garrison Property & Casualty Ins. Company||$650|
|Average Across Credit Rating Tiers||$710|
Homeowner Insurance by Age of Home
|Age of Home||Average Annual Premium|
|Average Across Ages||$923|
Quadrant home insurance rate data as of 12/01/2019.
These rates are a sample set meant only for general comparison. Your own premium will vary. Learn how we tested rates for the cheapest home insurance companies in our methodology.
Top 3 Cheapest Homeowner Insurance Companies in Idaho
- Metropolitan Insurance – $442
- Farm Bureau Mutual Insurance Company of Idaho – $488
- Grange Insurance Association – $524
Top 3 Most Expensive Homeowner Insurance Companies in Idaho
- State Farm – $1,458
- Allstate – $860
- Travelers – $844
The cheapest homeowners insurance provider in Idaho is Metropolitan Insurance with an average premium of $442, whereas the most expensive is State Farm with $1,458.
Remember: many factors determine the cost you will pay for homeowners insurance, so these average prices don’t necessarily represent how much you yourself would pay for coverage. To get a more accurate quote, you will need to contact each provider directly.
Homeowners Insurance FAQ
No, you are not legally required to purchase homeowners insurance in Idaho; however, your lender will likely require you get insurance for at least the value of your mortgage.
The cheapest provider in Idaho based on our data is Metropolitan Insurance. It currently has an average premium of $442, but keep in mind that is just the average premium for Idaho.
The cheapest providers in Idaho are Metropolitan Insurance, Farm Bureau Mutual Insurance Company of Idaho, and Grange Insurance Association.