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Home Insurance and Car Insurance in Idaho
Living in Idaho comes with several perks, from sweeping mountain views to an abundance of natural parks and rivers. Idaho also doesn’t see many natural disasters such as earthquakes, hurricanes or tornadoes, which means home insurance costs are lower than the national average. This is especially true for SelectQuote customers who choose to bundle their home and auto coverage. Read on if you’re curious about how home and auto insurance can help protect you in the event of a disaster or auto accident.
Homeowners Insurance in
Why are homeowners insurance prices in Idaho so much lower than the national average? There are several factors that make buying home insurance more affordable for the nearly 71% of Idahoans who own their homes.1 Idaho doesn’t see much severe weather owing to its location, which makes the risk of hurricanes and tornadoes much lower. It also doesn’t see much in the way of earthquakes.
When it comes to buying home insurance, one main distinction is whether the policy is an actual cash value policy or a full replacement cost policy.
- Actual cash value policies will pay either the policy limit or the cost of replacement minus depreciation, whichever is lower. Say your home costs $250,000 to rebuild after a claim. The home was valued at $175,000 after depreciation. With an actual cash value policy, you’ll be responsible for the $75,000 remaining cost.
- Replacement cost policies will fund rebuilding your home up to the policy limit or cost of rebuilding without worrying about depreciation.
Homeowners Insurance Coverage Options in
Whether your insurance policy covers full replacement cost or actual cash value, it will also include many—if not all—of the following types of home insurance coverage:
- Dwelling coverage helps pay for the cost or repairs to or rebuilding the structure of your home, including its walls and roof.
- Personal property coverage pays for the replacement of what is inside your home, like furniture or appliances. Some high-dollar items may not be covered in full, such as jewelry or antiques.
- Liability protection coverage protects you against lawsuits after a person is injured on your property or you damage their property.
- Guest medical protection coverage pays for medical expenses after someone is injured on your property.
- Other structures coverage pays for repairs to physical structures that aren’t attached to your house, such as a detached garage or a work shed.
- Additional living expenses coverage pays for increased expenses like lodging and food if you can’t stay in your home after a covered loss.
There are additional insurance options available for you outside of the standard coverage that can protect high-dollar items, your lawn or garden, and even identity theft.
Common Causes of Loss in
Idaho doesn’t see natural disasters often encountered in other states such as Mississippi or those of Tornado Alley. Instead, common insurance claims filed in Idaho tend to include the following causes of loss:
- Flooding, which can happen regardless of whether a home is near a large body of water. Most experts recommend reviewing FEMA’s Flood Map Service Center2 to determine your flood risk.
- Storms, including both thunderstorms and ice. Weather events cause frozen pipes, and damaged roofs.
- Wildfires, at which Idaho is at an increased risk.3 Most basic policies cover fire damage, but some areas at severe risk of wildfire may need additional coverage.
Additional Coverage Options Recommended for Homeowners
Owing to the increased risk of wildfires and the occasional flood, Idaho homeowners may want to consider purchasing the following additional coverage:
- Flood insurance isn’t offered by many home insurance policies. Instead, you can purchase it via FEMA’s National Flood Insurance Program (NFIP) or as an additional policy with your insurance company.
- Water backup coverage protects you against damage due to failed sump pumps or seepage.
- Scheduled personal property coverage is specifically tailored to homeowners with high value items that aren’t covered under regular property insurance. This coverage usually requires professional appraisal of the item and a higher premium.
Our Home Insurance Partners in
SelectQuote partners with highly rated home and auto insurance companies in Idaho to provide you with competitive quotes for your homeowners insurance needs. We can help you shop quickly and within your budget, giving you peace of mind your home is protected without breaking the bank.
What is the average home insurance cost in ?
The average monthly premium for SelectQuote customers is $103.98+—much lower than the national average of $104.08.4 The cost of homeowners insurance will differ based on factors such as ZIP code, credit rating, level of coverage, deductible and more.
Homeowners Insurance Discounts in
If you want to save additional money on coverage, you should seek out any and all available home insurance discounts. Most Idaho home insurance companies offer discounts for many reasons, including:
- Customer loyalty
- Filing a low number of claims
- Raising your deductible
- Bundling your home and auto insurance policies together
Bundle Your Home and Auto Insurance to Save Money
SelectQuote helps our customers save even more money by shopping for bundled policies, which links your Idaho homeowners insurance and auto coverage together under a single carrier. Our customers save an average of $693 per year on bundled home and auto coverage.
Average Home and Auto Insurance Rates in
Rates below are taken from actual SelectQuote customers in different Idaho cities. Your rates will vary based on the factors named above.
| City | Avg. Monthly Home Insurance Rate | Avg. Monthly Auto Insurance Rate | Avg. Monthly Rate of Bundled Policies |
|---|---|---|---|
| Boise | $76.73 | $77.36 | $114.37 |
| Caldwell | $38.65 | $75.14 | $103.91 |
| Idaho Falls | $65.52 | $105.06 | $158.44 |
| Meridian | $82.55 | $98.90 | $141.91 |
| Nampa | $58.19 | $111.92 | $166.92 |
Average monthly rates are from effective SelectQuote customer policies between 4/1/2022 and 3/31/2023.
Car Insurance in
Just over 1.6 million vehicles are registered in the state of Idaho.4 This number includes all manner of passenger cars, trucks and other types of vehicles. If you’re one of Idaho’s 1.3 million licensed drivers,5 it’s important to purchase auto insurance to protect your vehicle and yourself.
Car Insurance Laws and Requirements
It’s mandatory that car insurance companies in Idaho offer certain types of auto insurance to their customers. This coverage ranges from the legally required minimum amounts for bodily injury liability and property damage liability to uninsured and underinsured motorist coverage. Let’s look at the types of auto insurance coverage and any minimum legal limits that apply to drivers in Idaho.
- Bodily injury liability coverage pays for medical expenses and funeral costs for people injured in an auto accident that is ruled to be your fault. Idaho requires all drivers to carry $25,000 per person and $50,000 per accident.
- Property damage liability coverage pays for damage to someone else’s property when you are found to be at fault. This can include vehicles, fencing, telephone poles or even homes and buildings. Idaho requires all drivers to carry $15,000 of coverage.
- Uninsured and underinsured motorist coverage helps pay for damages that occur when another party does not have insurance or lacks sufficient insurance. Idaho requires insurance companies to offer this coverage unless the named insured rejects it in writing.6
All data on average expenditures is provided by the Insurance Information Institute.
| Types of Coverage | Minimum State Requires |
|---|---|
| Bodily Injury Liability | $25,000 per person / $50,000 per accident |
| Property Damage Liability | $15,000 |
| Uninsured Motorist | Not required |
| Underinsured Motorist | Not required |
| Personal Injury Protection | Not required |
| Collision | Not required |
| Comprehensive | Not required |
| Gap Insurance | Not required |
Additional insurance coverage available for purchase includes:
- Comprehensive coverage pays for damages to your vehicle or losses that don’t involve other vehicles. They can include falling objects, animals, fire, hail and more. While not required by Idaho law, your lender may require it as a condition of your vehicle financing.
- Collision coverage covers damage as a result of an incident with another vehicle. It, like comprehensive coverage, may be required by an auto lender.
- Medical payments coverage can help pay for medical expenses for you and your passengers.
- Gap insurance helps pay the difference between what you currently owe on a vehicle and its worth at the time of the incident.
Teen Driving Laws
Idaho’s graduated driver’s licensing program requires all Idaho drivers under the age of 17 to pass driver’s education and to complete a supervised driving period.7 Teens are placed under a strict curfew to drive only during daylight hours until they turn 16 and there is a strict limit on the number of passengers.
All teen drivers must have auto insurance, either on their own or as part of their parent or guardian’s auto coverage.
Car Registration Information
Vehicle registration in Idaho requires proof of ownership (title), a valid driver’s license, proof of Idaho residence and proof of insurance.8
What is the average car insurance cost in ?
The average cost of car insurance in Idaho for SelectQuote customers is $103.98 per month.+ Car insurance rates will vary based on several factors, including your ZIP code, deductible and maintaining a clean driving record.
Our Auto Insurance Partners in
SelectQuote partners with several leading Idaho auto insurance companies. We shop around for competitive rates and discounts and provide you the right quotes for your needs. The process is quick and comprehensive, and the savings are significant.
Home and Auto Insurance Frequently Asked Questions
We can help you find home and auto insurance, whether it’s your first time shopping for coverage or because you’re in the market for a better care insurance rate. Common questions we hear from our customers include:
How do I shop for insurance in Idaho?
Shopping for insurance in Idaho starts with figuring out your coverage needs. Once you tell us what you want to protect, we can tailor our search to finding affordable coverage that meets those requirements.
How should I shop for homeowners insurance in ?
Shop for home insurance in Idaho by doing the following:
- Determine your home’s value and what it would take to rebuild.
- Create a personal property inventory.
- Shop for coverage with several companies at once and compare quotes.
- Make a decision based on value, price and the insurance company’s reputation for customer satisfaction.
How should I shop for auto insurance in ?
Use the following steps to find your auto insurance coverage:
- Determine your legal requirements for coverage and add necessary insurance based on what your auto lender requires.
- Shop for rates from several companies at once. Don’t forget to ask for discounts, including for bundling your home and auto coverage.
- Make a decision based on the price that works for you and the right amount of coverage you need.
Do I need mobile home insurance in Idaho?
Many insurance companies won’t provide traditional home insurance coverage to owners of mobile homes. Manufactured homes are often at an increased risk of damage from fire or windstorms. In these cases, a separate mobile home insurance policy is needed.
How is property tax determined in Idaho?
Your property taxes are determined based on several factors, with the most important one being the assessed value of your home.9 Individual assessments are then added together to form the total taxable value of all property in the county. The city’s budget is divided by the value of all taxable property to determine the tax rate.
What car insurance coverage is recommended in Idaho?
Different types of car insurance is recommended based on your needs and your vehicle while factoring in the minimum legal requirements. If your car is paid off, for example, you may only need to buy the minimum legal amount of bodily injury and property damage liability. If you’re financing your car, you may need to buy additional coverage to satisfy the terms of your loan.
SelectQuote Can Shop Home or Auto Insurance to Help Save You Time and Money
SelectQuote can help anyone who needs home or auto insurance—both new insurance customers and existing customers seeking better prices. We shop for coverage and compare rates from several insurance companies at once to help you find the best home and car insurance in Idaho for your needs. We can even help score you a significant discount by bundling your home and auto insurance policies.
- https://fred.stlouisfed.org/series/IDHOWN
- https://msc.fema.gov/portal/home
- https://www.iii.org/article/background-on-wildfires
- https://itd.idaho.gov/dmvdata/
- https://www.statista.com/statistics/198029/total-number-of-us-licensed-drivers-by-state/
- https://doi.idaho.gov/consumers/auto-insurance/required-auto-coverage/
- https://itd.idaho.gov/wp-content/uploads/2017/06/3506_gdlfactsheet.pdf
- https://itd.idaho.gov/itddmv
- https://tax.idaho.gov/i-1129.cfm
+Average rates calculated are based on effective SelectQuote customer policies in Idaho between 4/1/2022 and 3/31/2023. Rates will vary based on level of coverage, location, age, and additional determining factors.
