How Much is Home Insurance in Utah?

Picture it. You’re enjoying a quiet evening at home when bam, a huge tree branch falls on the roof or your pipes burst after your first big freeze. Luckily, you have home insurance that protects you and your home from unpredictable disasters.

While no one expects these kinds of accidents to happen (they are accidents after all), home insurance is there for if and when things do go awry. And while there are a few differences between certain policies, knowing the basics of home insurance is invaluable for choosing coverage that’s right for you and your home.

How much is home insurance in Utah?

While home insurance rates vary based on where in Utah you live and what your coverage needs are, average Utah homeowners insurance rates come in at around $804 a year—roughly 36 percent below the national average.

What does homeowners insurance cover?

Home insurance covers damage sustained by your home and belongings in the event of a fire, lightning, smoke, theft, vandalism, water, wind, and more.

A standard home insurance policy protects:

• Your home – the structure of your home and its built-in appliances.
• Other structures – detached structures like a garage or shed.
• Your belongings – personal property coverage will help reimburse you.
• Housing expenses – if you have to leave your house, loss of use coverage can help with living expenses.
• Medical bills – personal liability coverage may pay if a guest hurts himself or herself at your home. 

The new Silicon Valley

Utah’s population has grown by 16 percent in the last decade, with one-third of new residents coming from California. Many young people have been drawn to the Beehive State’s tech hub (dubbed Silicon Slopes), which is centered in Lehi, Utah and spans from Salt Lake City to Provo. Utah now has more Millennials, comprising roughly 23 percent of residents, than any other state in the country.

Utah’s growing popularity is due to a strong job market—a 30 percent increase in non-farm jobs in a decade—coupled with a low cost of living and beautiful natural surroundings. Property taxes are low and home values are on the rise, so if you buy a home in Utah, you’ll likely get a return on your investment. If you’re a retiree—or soon to be—keep in mind that Utah is among only 13 states that tax Social Security benefits, and fully taxes withdrawals from retirement accounts.

AAA Home Insurance add-on coverage

A standard homeowners’ policy works for many people, but, depending on your situation, you may need extra coverage.

Standard policies don’t cover flood damage, so purchasing flood insurance is a smart move. That way, you’ll be compensated if your home, cabinets, carpets, appliances, or belongings are damaged.

If your home is damaged and you need to repair or rebuild it, the new work must meet local building codes, which may result in additional, unexpected costs. Building code coverage, available from AAA, can help offset those added expenses incurred due to a covered loss.

AAA also offers coverage with increased limits for jewelry and watches in case of theft. So if you own a few treasured pieces, consider this add-on.

Identity fraud is also a growing concern, and identity theft coverage can often be added onto your home insurance policy. AAA Home Insurance includes identity theft coverage up to $15,000 for expenses related to a stolen identity.

If you own a rental property, you want to make money on your investment—not lose it. So when disaster strikes, landlord insurance can protect you. This type of policy covers building damage from perils like fire, wind, hail, electric malfunction, and vandalism. It also covers damage to kitchen appliances or any furnishings that you provide for tenants. And if a tenant or visitor tumbles down the stairs and gets hurt, your policy’s liability protection will cover their medical expenses too.

AAA insurance agents in Utah are available to help by phone or in-person. Find a AAA Utah location near you.