How much is homeowners insurance in Redmond, UT

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As per Insure.com’s rate data analysis, the average cost of homeowners insurance in Redmond is $1,850 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), It’s $732 less than the national average of $2,582.

Homeowners insurance rates differ significantly from one home to another. Home insurance rates in Redmond depend on several factors, including:

• Size of your home
• Age of your home
• Amount of coverage you need
• Location
• Your credit score

State Farm is the cheapest homeowners insurance company in Redmond with an average annual premium of $1,098 per year.

This guide covers everything from available coverage options to companies with the cheapest homeowners insurance rates in Redmond. Keep reading to learn about the monthly cost of homeowners insurance in Redmond, the cost for different dwelling coverage levels, and discover which companies provide the most affordable home insurance in Redmond.

How much is homeowners insurance in Redmond per month

According to Insure.com’s rate analysis, residents of Redmond pay an average of $154 per month for homeowners insurance. This is $5 more than the state average of $149 and $61 less than the national average for home insurance across the United States. The cost of your homeowners insurance policy in Redmond can vary depending on your location, property value, and selected coverage options.

How much is homeowners insurance for a $200,000 house in Redmond

Homeowners insurance for dwelling coverage of $200,000 and liability protection of $100,000 costs $1,446 per year in Redmond, UT. Numerous factors influence your annual home insurance rates, including any natural disaster or event in your locality. For instance, certain regions have a higher risk of natural calamities such as floods, hurricanes, or tornadoes, implying higher expenses for rebuilding in these areas. These increased rebuilding expenses result in increased insurance premiums.

It is important to note that your insurance plan may not cover flood or hurricane damages. So, if you reside in an area prone to flooding, consider buying flood insurancecoverage.

How much is homeowners insurance for a $300,000 house in Redmond

According to Insure.com’s rate analysis, homeowners in Redmond typically pay an average of $1,850 annually for a home insurance policy with $300,000 in dwelling coverage, $100,000 in liability protection, and a $1,000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, your home insurance rates will rise by $404. It is advisable to purchase enough insurance to cover the entire cost of rebuilding your home. The required amount of dwelling coverage can vary based on factors such as the size of your home, its features, and the cost of living in your area.

How much is homeowners insurance in Redmond by company

Among the carriers analyzed, State Farm is the most affordable homeowners insurance company in Redmond. It’s average annual rate for homeowners in Redmond is $1,098, while Nationwide ranks second.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Redmond and compiled a list of the most affordable home insurance companies.

Below are details of Redmond home insurance companies and their average annual premiums.

Common natural disasters in Utah that may affect home insurance

Living in Utah comes with its unique challenges, particularly when it comes to the risk of natural disasters. These events can cause significant damage to homes and property, leading to potential insurance claims. Understanding which natural disasters are common in your area can help you make an informed decision when choosing your home insurance policy.

Avalanche is the common natural disasters in Utah that may affect your home insurance rates.

How home insurance protects you against natural disasters

Home insurance can provide valuable protection against the financial impact of natural disasters. Standard home insurance policies typically cover damages from fire, windstorms, hail and lightning. However, events such as floods, earthquakes or landslides are often excluded and require purchasing additional policies or endorsements. For example, flood insurance must be purchased separately, as it is not typically covered by a standard home insurance policy.

Home insurance helps pay for home repairs, replacement belongings and temporary living expenses if your dwelling becomes uninhabitable due to damage. The protection offered by home insurance can significantly reduce the financial impact of natural disasters.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Redmond for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

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