Orem Homeowners Insurance
Do you own a home in Orem, UT? Check out this guide on how to build the best home insurance policy.
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Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to TrustedChoice.com.
Forbes ranked Orem, UT the fifth best place to raise a family and with little wonder. A beautiful city that calls itself “Family City USA,” Orem offers its more than 88,000 residents much in the way of parks, scenery, schools, and culture. If you are a homeowner in this vibrant western city, you will want to be sure to protect your investment with a suitable Orem home insurance policy.
Independent Insurance Agents in our network are available to help you find the best rate for a policy that can adequately cover your Orem home and property. These agents can work with a number of competing insurance providers to gather a selection of Orem homeowners insurance quotes for policies that have been customized to meet your specific coverage requirements. Find an agent in or near Orem to learn more.
- National yearly premium average: $1,034
- Utah yearly premium average: $580
- 49th most expensive premium in the U.S.
The good news for Orem residents shopping for home insurance is that homeowners in Utah pay some of the lowest rates in the country, largely because of the low risk of natural disasters in this state. You can refer to the average costs listed above to get an idea of what your rates might be, but your actual Orem homeowners insurance quotes are based on a number of different factors including but not limited to the following:
- The value of your home, the year it was built and the materials used in its construction
- The type of home you are insuring: primary residence, vacation home or second home
- The ZIP code where your house is located
- The amount of coverage you are purchasing
- The amount of your deductible
- Your claims history and credit score
- Your bundling options, i.e., whether you will be bundling your home coverage with other policies like life or auto
Our agents can help you compare quotes from a variety of reputable insurance companies. That way, you can be sure that you are paying a competitive price for the policy you select.
Second Home and Vacation Home Insurance
If you own more than one home, you will need to be certain that all of your properties have appropriate coverage. With second homes and vacation homes, you have as many different insurance considerations as you have with your primary residence. While you may need less in the way of contents coverage, there are risks involved with leaving property unattended for long periods of time, and this can necessitate a special policy. Alternatively, if you lease out your extra property when you are not using it, you may need a landlord insurance policy to have the coverage you need if something goes wrong. You can discuss your particular situation with your agent, who can make suitable policy recommendations.
Number of Thefts in Utah
- National number of burglaries: 37,814
- Utah number of burglaries: 13,333
The burglary rate in Utah is lower than the national average, and the crime rate in Orem is even lower. In recent years, residents of this city reported a total of 192 burglaries, which equates to about 2.10 burglaries for every 1,000 households – well below the national rate of 6.11. This low crime rate helps to keep your insurance rates low. In the event that you are the victim of a property crime, your Orem home insurance policy provides some peace-of-mind by providing you with compensation for your losses. Talk to your agent to find out whether you need special endorsements to cover any particularly valuable property.
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Number of Catastrophes in Utah
- Number of catastrophes in Utah: 106
- Number of tornadoes in Utah: 3
- Amount of property damage in Utah: $7,090,000
- 1 in 15 insured homes has a claim each year
Compared to the rest of the country, the risk of natural disasters in Orem is rather low. Of course, no place is completely safe from weather-related damage, so it is important to have suitable Orem homeowners insurance in the event that your house is damaged by a storm or other weather event. Also, be aware that your Orem home insurance does not provide coverage against earthquakes, landslides or floods, so you may want to talk to your agent for information about obtaining supplemental coverage.
What Are the Risks in Orem, UT?
Orem residents have a fairly low risk of most weather-related disasters, such as tornadoes and severe thunderstorms. However, this city does face a moderate risk of earthquakes, landslides and floods, none of which are covered by standard home insurance policies. Orem is located near the Wasatch Fault, which gives residents a risk of earthquake activity that is 271 percent higher than the national average, but lower than the Utah state average. By supplementing your Orem home insurance with an earthquake insurance policy, you will have coverage if a quake causes significant damage to your house.
Additionally, residents must be wary of flood and landslide damage. Recently, flash floods in the area caused mudslides, road closures and a great deal of property damage. Many residents were evacuated from their homes. More area flooding occurred later on that year. Talk to your agent about securing a flood insurance policy through the National Flood Insurance Program (NFIP) and about supplemental insurance specifically designed to cover damage caused by landslides.
Compare Orem Home Insurance Quotes
When it comes to purchasing an insurance policy for your house in Orem, you have several insurance providers you can choose from. Comparison shopping enables you to find a suitable policy at an affordable rate, but many homeowners find it to be too time-consuming to do on their own. Without assistance, you also run the risk of inadvertently purchasing a policy that does not provide all the coverage you need, which can leave you without recourse if your house is damaged by a noncovered disaster.
That is why it is beneficial to work with one of the many independent insurance agents in our network. Your local agent can recommend appropriate coverage limits, identify and eliminate coverage gaps, and gather quotes from a variety of insurance providers to make it stress-free for you find a competitively priced policy that meets your coverage needs.
Find an agent with an office near you to learn more about Orem homeowners insurance.