Homeowners Insurance in Idaho

Common insurance discounts in Idaho

As you compare homeowners insurance in Idaho, remember to weigh the insurance discounts each carrier offers.

Many insurers offer multiple discounts, and qualifying for them is often straightforward. A knowledgeable agent can help you capture every savings opportunity. 

Here are some common discounts in Idaho:

• Protective devices: Many Idaho home insurance companies offer homeowners discounts if they install smoke detectors, sprinkler systems, or burglar alarms.
• Claims-free: If you go for a certain number of years without filing a claim, you could pay reduced annual premiums. 
• Home renovation: When you upgrade HVAC, plumbing, and electrical systems, you might qualify for a discount. 
• New home: If you bought your home within the last year, you could save on your insurance costs.
• Gated community: Living in a secured community with guards, key cards, or locked gates in Idaho might earn you a discount.
• Loyalty discount: If you stay with the same insurance company for several years, you might qualify for a loyalty discount. 

Tips for lowering home insurance rates

Home insurance policies typically last for a one year, which gives you time before renewal to find ways to lower your rate. While savings often depend on your insurance company, the following steps could help you get cheap homeowners insurance in Idaho and maintain quality coverage. 

• Improve your credit score: Many Idaho insurers consider credit scores when setting rates. A higher credit score shows financial responsibility and could help reduce your premium over time.
• Compare home insurance quotes in Idaho: No matter what, don’t settle for the first offer. Get multiple home insurance quotes in Boise, Meridian, or any Idaho city you dwell in to find a competitive rate. Just make sure you're comparing the premiums of the same coverage levels across providers.
• Bundle your policies: Many insurers provide discounts if you buy multiple policies, such as home and auto insurance or home and renters insurance from the same company.
• Raise your deductible: A higher deductible usually means decreased monthly premiums. Just choose an amount you could afford to pay if you need to file a claim.
• Check for discounts: You might qualify for discounts you didn’t know about, such as loyalty rewards, protective devices, or claims-free discounts. Review your policy with an agent before renewal, which could help you find new savings.
• Upgrade home security: Many insurance carriers in Idaho offer discounts to property owners for home security improvements. Even simple upgrades, such as deadbolts or alarm systems, could help reduce your premium.

As a homeowner in the Gem State, when you take such actionable steps, they could help you find affordable homeowners insurance in Idaho without sacrificing coverage. A little research and planning could go a long way in protecting your home at the best possible rate.

What does Idaho home insurance cover?

Home insurance in Idaho could help you protect your biggest assets – your home, belongings, and financial well-being. A good policy covers property damage and helps with liability issues and extra living expenses if your home becomes uninhabitable. 

Here are some different types of coverage options you’ll find in a typical Idaho home insurance policy:

• Dwelling coverage: This insurance coverage helps cover the cost to repair or rebuild your home if it’s damaged by a covered event, such as a fire or storm. The dwelling coverage (also called Coverage A) should be based on the estimated cost to rebuild, considering local construction and labor rates.
• Personal property coverage: If your furniture, clothing, appliances, or other belongings are damaged, destroyed, or stolen, this coverage helps replace them. It usually ranges from 50% to 70% of your dwelling coverage. For example, if your home is insured for $400,000 and your policy includes 50% personal property coverage, you’d have $200,000 for your belongings. 
• Liability insurance: This coverage protects you financially if someone is injured on your property or if you accidentally cause damage to someone else’s property. For example, if a guest trips on your sidewalk and needs medical care, liability coverage could help pay for their expenses. It also covers legal costs if you’re sued. For a suitable home insurance in Idaho Falls or other cities, you should have enough liability coverage to protect your net worth. If your policy limits aren’t high enough, umbrella insurance could provide extra protection.
• Medical payments coverage: This coverage helps cover small medical bills if a visitor gets injured on your property, regardless of fault. However, it doesn’t cover household members.
• Other structures coverage: Also known as Coverage B, it protects detached structures on your property, like fences, sheds, and gazebos. Most policies set this limit at 10% of your dwelling coverage, but you could adjust it based on your needs.
• Additional living expenses: If a covered peril damages your home and it becomes uninhabitable, this coverage (also called loss of use coverage) pays for hotel stays, meals, and other temporary living costs. The coverage amount is typically a percentage of your dwelling coverage, but you could increase it if necessary.

Additional Idaho insurance coverage options

While a standard home insurance policy in Idaho covers many risks, it might not protect against every potential hazard. 

Depending on where you live and your specific needs, you might want to consider additional coverage options to ensure complete protection, such as:

• Winter weather: Homeowners insurance in Idaho usually covers damage from winter storms, but some situations might require extra coverage. For example, standard home insurance doesn't cover flood damage from melting snow; you would need a separate policy. Also, if your pipes freeze and burst due to neglect, like failing to heat an unoccupied home, your insurer might deny the claim.
• Flooding: Standard homeowners insurance doesn’t cover flood damage. If you live in a flood-prone area, you might need to purchase a separate flood insurance policy. You can buy flood insurance anytime; however, note that most policies have a 30-day waiting period before coverage begins.
• Earthquake insurance: Idaho ranks fifth in the U.S. for earthquake risk, so buying earthquake insurance is a smart precaution. Many carriers offer earthquake coverage as an endorsement (an add-on to your policy). Check with your insurance agent to see what options are available.
• Hailstorms: While most home insurance policies in Idaho cover hail damage, some have a separate deductible for wind and hail claims. This could be a fixed amount, like $1,000, or a percentage of your home’s dwelling coverage. For example, if your home is insured for $250,000 and your hail deductible is 1%, you’d be responsible for the first $2,500 of repairs.
• Wildfire coverage: On average, Idaho’s populated areas have a higher wildfire risk than 94% of U.S. states. Although many standard home insurance policies cover wildfire damage, some homes in high-risk areas might need additional coverage. Therefore, talk to your insurance company or agent to ensure you have the right protection for your home and budget.
• Sump pump and sewer backup: Basic homeowners insurance (HO-3 policies) covers some plumbing issues, but coverage for sump pump failures and sewer backups may be limited. If you have a basement or are concerned about sewer backups, consider adding an endorsement for extra protection.
• Identity theft insurance: As identity theft becomes more common, insurers now offer identity theft coverage as an add-on. This could help cover expenses related to identity restoration and legal fees if your personal information is compromised.

What coverage is recommended in Idaho?

While Idaho doesn’t require homeowners insurance by law, the following coverages are recommended:

• Flood insurance: Idaho home insurance usually doesn’t cover flood damage, which could be a big issue in Idaho, especially for communities near the Boise River. Even if you don’t live in a flood zone or an area prone to flash floods, flooding could still happen, so it’s important to be prepared.
• Replacement cost coverage: Your home insurance in Idaho likely covers personal belongings. However, not all policies include replacement cost coverage. This coverage reimburses the full cost of replacing lost or damaged items without factoring in depreciation, allowing you to buy new replacements.

Insuring your home in Idaho

Buying home insurance in Idaho is a relatively simple process. However, it’s important to choose the right coverage to protect your property. Whether you purchase a new home or want to switch providers, here's a few tips to ensure your home is properly insured.

• Assess your coverage needs: First, determine how much coverage you need. Consider the cost of rebuilding your home, replacing personal belongings, and covering liability risks. If you dwell in a flood-prone or wildfire-risk area, you might need additional protection.
• Compare insurance providers: Insurance rates and coverage options vary by company. Get quotes from at least three providers to compare pricing and policy benefits. Look for an insurer with good customer service, strong financial ratings, and competitive discounts.
• Choose a policy that fits your budget: Select a policy that provides adequate protection at a price you can afford. Pay attention to deductibles, coverage limits, and any exclusions.
• Finalize your policy and stay up to date: Once you choose a policy, review it annually. Home values and risks could change, so updating your coverage when needed is essential. If you make home improvements or add smart home security features, notify your insurance company – you might qualify for discounts.

Is Idaho homeowners insurance required by law?

No, Idaho home insurance isn’t required by law. However, if you have a mortgage, your lender might require you to carry home insurance to protect their investment. 

Even if it's not mandatory, property owners in the state of Idaho should have homeowners insurance coverage to ensure financial security.

Looking for homeowners insurance in a different state?

Looking for homeowners insurance outside of Idaho? Check out the map below to explore coverage options by state.