The best home insurance company offers the right mix of cheap rates, coverage options that fit your property, and dependable customer service. We collected hundreds of home insurance quotes and compared the ten most popular home insurance companies to find the perfect option for every Wyoming homeowner.
Compare Home Insurance Quotes from Providers in Wyoming
In Wyoming, we found that the best home insurance price for a typical homeowner is $940 per year. But we always recommend homeowners consider coverage options and service when picking a home insurance company. Read on to learn about our picks for the best home insurance companies in Wyoming.
Best homeowners insurance for most people: State Farm
The best homeowners insurance for most people in Wyoming is State Farm due to its affordability. The company's customer service is highly rated, too — only three complaints were filed in Wyoming in 2018. A standard policy from State Farm costs about $1,125, which is about 11% cheaper than the statewide average cost of coverage. A policy from the insurer comes with industry-standard coverages, but you can add water backup protection and identity restoration, too.
State Farm's customer service quality is noteworthy, especially given its size. The National Association of Insurance Commissioners (NAIC) tracks the number of complaints insurance companies receive from their policyholders. State Farm's complaint index is 0.20, substantially less than the 1.0 that the NAIC uses to represent the expected number of complaints for a company's market size.
With homeowners insurance from State Farm, you also get access to the Premier Service Program. This network of contractors is used to connect you with independent providers if you need emergency water removal or other general contractor services. Workmanship is guaranteed by every contractor in the network for five years.
Although there aren't many opportunities for you to reduce your price by taking advantage of discounts, you can still save money if your home has security systems, sprinklers or if you bundle your policy with another policy from State Farm. You may also qualify for a discount if you reinforce your roof, something that could help you avoid future expensive claims resulting from Wyoming's hailstorms.
Most affordable homeowners insurance: Nationwide
The cheapest homeowners insurance coverage in Wyoming on average is Nationwide, with a yearly premium of $940. Additionally, Nationwide offers a variety of discounts that could save you even more money on your policy. You could reduce your rates by:
- Bundling your homeowners insurance with another policy
- Installing protective devices in your home
- Having a good claims history
- Renovating your home's plumbing or electrical systems
- Having a newer or reinforced roof
- Purchasing a home within the last year
- Living in a gated community
Nationwide's variety of available discounts could make it easier to upgrade your policy if you want to add to your standard protection. You could add coverage for identity theft, water and sewer backup, or increase your protection for high-worth items like jewelry or art. You can also get guaranteed replacement cost coverage up to 20% in excess of your policy's limit.
Best home insurance for rural properties: Mountain West Farm Bureau
Farm Bureau's Mountain West subsidiary is the best homeowners insurance company for rural property owners in Wyoming. Aside from having a regular homeowners package, this company also offers the Country Home Insurance bundle specifically catered to people who have a small homestead. Large-scale commercial farmers and ranchers may be better off considering dedicated farm insurance instead.
With Mountain West Farm Bureau's coverage, you receive the regular benefits of homeowners insurance along with limited farm property protection for saddles, livestock and hay. You can also receive water backup protection and replacement cost coverage. The Country Home package also comes with auto coverage and liability insurance for injuries to others performing some agricultural work on your property.
We weren't able to calculate the average cost of coverage for Mountain West Farm Bureau. However, you may be able to save on your policy if your home has a reinforced roof or alarm system. You could also save money if your home is less than 12 years old. Like other Farm Bureau subsidiaries, a policy also comes with a membership charge in addition to a yearly premium.
You should be aware that Mountain West Farm Bureau's financial strength was recently downgraded from Excellent to Good. While the financial assessment group A.M. Best believes the company has the capabilities to meet its financial operations, Mountain West Farm Bureau's BBB+ rating is the lowest in this survey.
Best for military families: USAA
People who are active or retired service members or their families should consider homeowners insurance from USAA. The average cost of coverage is about $1,387, only about $100 more expensive than the typical statewide cost of insurance. However, eligible members will receive special protections with standard coverage that aren't typically included by other companies.
A basic USAA homeowners insurance policy comes with replacement cost coverage and protection for your uniform if it's lost or damaged. Additionally, if you're a motorcycle rider looking for bike coverage, you could receive special rates through USAA's partnership with Progressive. You may also save up to 10% by bundling your homeowners insurance with another policy.
USAA's customer service is a standout among the other homeowners insurance companies in this survey. The company's complaint index is 0.15, much less than the expected amount of complaints for its market share. Notably, no complaints were filed from Wyoming in 2018, according to the NAIC's archives.
Homeowners insurance companies with the best and worst customer service
To find out which of the homeowners insurance companies in Wyoming have the best and worst customer service, we checked each insurer's place on the complaint index, published by the NAIC. The index tracks the amount of complaints an insurer is responsible for given its national market share. A company with a 1.0 score has the ratio of complaints expected for its size.
Here, we've provided the complaint indexes for the 10 homeowners insurance companies with the largest share of Wyoming's premiums.We also consulted J.D. Power's customer satisfaction survey for the homeowners insurance market. Companies were scored on a scale of one to five based on their service.
|Company||NAIC value (lower is better)||J.D. Power (higher is better)||A.M. Best (financial strength)|
|Mountain West Farm Bureau||1.84||NA||B++|
We found that homeowners in Wyoming were most satisfied with Chubb, AIG, USAA and State Farm. Of these providers, only State Farm is marketed to most of the population: Chubb and AIG specialize in covering high-value homes, while the USAA is available to military members and their families.
Customers were least satisfied with service from Mountain West Farm Bureau, which holds a 1.84 on the complaint index. However, due to the company's small share of the national market, it may be disproportionately affected by receiving even a small number of total complaints. We still recommend considering the company if its coverages fit your needs.
Cheapest options for homeowners insurance in Wyoming
We found that the cheapest homeowners insurance company in Wyoming on average is Nationwide, while the most expensive is Allstate. The average price of homeowners insurance in Wyoming is $1,263. This is more expensive than the national average cost of coverage, which we calculated to be $1,083.
Although it's typically more expensive to purchase coverage in the state, we discovered that 38 of Wyoming's ZIP codes have cheaper rates than the national average.
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Most common homeowners insurance perils in Wyoming: tornadoes and hail
Wyoming's location on the northern part of the Great Plains means that its homeowners can commonly face damage from tornadoes and hail. The eastern part of the state, including the most populous city, Cheyenne, is most likely to experience the effects of severe weather given its relative flatness to the rest of the state.
To protect your property, you should make sure you understand how a policy treats the perils and natural disasters you're most likely to face. This way you can pick a homeowners insurance provider that best fits with your home.
Does homeowners insurance cover tornado damage?
Fortunately, most homeowners insurance policies cover damage from wind, including tornadoes. According to data from the National Weather Service, Wyoming has experienced an average of 18 tornadoes a year since 2014, with 30 already in 2019. Even if tornadoes don't spring up, wind damage can still affect properties. Most of these events have taken place on the state's eastern side where topography is significantly flatter than the mountainous west. Without the natural barrier of mountains to absorb some of the power of windstorms, properties in this region are more prone to these perils than their western counterparts.
Although tornadoes are often a covered peril, it's important to understand the extent to which you'd be covered if you suffer a total loss. When awarding compensation, most homeowners insurance policies will payout according to the depreciated value of your property. If you live in a part of the state that's more likely to encounter heavy winds or tornadoes, it's a good idea to consider finding a provider that offers replacement cost coverage.
How much does insurance pay for hail damage?
Homeowners insurance typically pays for a portion of hail damage depending on your coverage elections. Property owners can feel assured that most homeowners insurance companies include hail damage as a covered peril. However, given that it's common for Wyoming to be hit by hailstorms that can cause damage to homes and automobiles, there may be exceptions in some cases.
Some homeowners insurance companies may limit the amount of compensation you can receive for repairing hail damage if you live in a part of the state that's especially prone to hailstorms. It's possible that you may only be eligible for payment if your home's damage is more than cosmetic. Your premiums may also go up after making claims for hail damage. Fortunately, many homeowners insurance companies offer discounts for properties with reinforced windows, siding and roofs.
Wyoming insurance rates: city-by-city breakdowns
The data we collected for this survey allows us to provide the cost of homeowners insurance for Wyoming's most populous cities. The city with the cheapest average cost of homeowners insurance is Green River, while the most expensive is Cheyenne.
The following table shows the costs of coverage in the state's 15 largest cities.
|City||Average||% from statewide average|
This survey of homeowners insurance quotes in Wyoming includes estimates from four of the state's largest providers:
- State Farm
We gathered quotes from each of Wyoming's ZIP codes using a sample property built in 1978 to correspond with the median year built of the state's houses. Our sample property was insured for $214,300, the median value of Wyoming's owner-occupied homes.
Unfortunately, due to the limited availability of quote data, we weren't able to include quotes from:
- Mountain West Farm Bureau
- American National Insurance
ValuePenguin's analysis used insurance rate data from Quadrant Information Services. These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes may be different.