Draper, UT Home Insurance Quotes!
Draper, UT homeowners are now shopping online to conveniently discover new ways to compare home insurance prices. At GetHomeInsuranceQuotes.com, we enjoy providing top notch customer service to local homeowners that are in need of clear and accurate coverage for their Draper home. We understand that you don't have a ton of time to shop every home insurance carrier that can provide a competitive rate. That's our job! We work with you and help you compare the best coverage options available and it only takes a few minutes for you to complete the online quoting application. Our agency mission and focus has been to put the home insurance needs of our customers first. We have been able to service thousands of homeowners in Draper and throughout the state of Utah. We can usually provide up to 12 competitive quotes and we can pick the best coverage options for you. Sometimes the best home insurance policy is not the cheapest. And our UT licensed specialists are here to help you find the protection you need for you and your family.
For quick homeowners insurance quotes for your home in Draper, UT, please enter your zip code. The process only takes 1 minute to complete. Start your home insurance quote today or give us a call now at 855-976-2656!
Draper, UT (SALT LAKE County) Demographics
Did you know there are 42,274 residents living within the Draper city limits, which is roughly 11,542 households per zip code with 4 people per household. The average household income is $117,266, which is slightly above the national average. Homes are more expensive in the Draper area with the average house value to be around $469,000.
| Demographic | Values |
|---|---|
| Population | 42,274 |
| Total Occupied Households | 11544 |
| Family Households (families) | 9469 |
| Average Owner Occupied Household Size | 3.46 |
| Average Family Size | 3.69 |
| Total Housing Units | 12125 |
Average Draper, UT Homeowners Insurance Rates
Below are some additional resources to help you understand your home insurance coverage and policy details for a home located in Draper, UT. Reviewing what homeowners in your area pay per year helps answer common questions on the average cost of home insurance in Draper.
- What is the average Draper, UT home insurance rate per year? $558.00
- What is the monthly cost of home insurance in Draper on avereage? $47.00
- What do homeowners in Utah pay per year on average? $764.00
- What is the national homeowners insurance average? $1,311.00
The average home insurance rate for Draper displayed above is an accumlative average based on a standard homeowners insurance policy. We can help you compare up to 12 rates and review all the discounts and credits that may apply to help you save up to 40% or more.
Top 5 Helpful Saving Resources
Below are helpful saving tips when purchasing or shopping for home insurance.
- FAQ: What is a Draper, UT Homeowners Insurance Policy?
- FAQ: What does a replacement cost coverage and actual cash value mean for my home in Draper, UT?
- Dwelling Coverage or Replacement Cost Value: You can click here to us our free online replacement cost value calculator to estimate the replacement value of what it would cost to replace your home if your home was damaged and needed to be rebuilt.
- Here are the top five homeowners insurance discounts that you may not be aware of in Utah
- Here are the top 3 home insurance credits available to homeowners.
Compare Homeowners Insurance Rates in Draper, UT!
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Average Rates Nearby Draper
Are you looking for homeowners insurance in a city near Draper? Review coverage options and average rates in your area by clicking your city below. We can help you shop home insurance rates!
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Home Insurance Rates by Zipcode in Draper, UT
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Draper.
Draper, UT Home Insurance Average Premiums
$308 /yr.
For the city of Draper, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
| Coverage Amount: | Annual Premium |
|---|---|
| 1800 sq. ft. or below (discounts applied) | $308 /yr. |
| Average Coverage: | $558 /yr. |
| 2600 sq. ft. or higher (all discounts applied) | $858 /yr. |
What is the average home insurance cost for a home in Draper, UT?
- • The average homeowners insurance premium paid annually for a home in Draper is around $558 per year.
What does it cost on average per month for home insurance in Draper, UT?
- • Homeowners in Draper pay an average cost per month around $47.00 for insurance coverage.
Draper, UT - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $756,721 | $740,354 |
| February | $754,510 | $753,684 |
| March | $755,537 | $769,213 |
| April | $755,526 | $784,329 |
Homeowners insurance will help cover the cost to repair or replace your Draper home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Draper
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Draper, UT homeowners insurance rates all in one place! |
Saving Money Tips on Draper Home Insurance
A great way to save money on Draper homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Draper area? Check out what homeowners are paying on average for Utah homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
| Elevation | Details | Homeowners Tips |
|---|---|---|
| 4722 ft. | This is the average home elevation in Draper, UT | Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Utah flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954. |
To get online quotes on your home and compare rates on home insurance premiums in Draper, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Salt Lake County.
Utah Homeowners Insurance News & Information
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Homeowners Below a 580 Credit Score Pay 35% More for Home Insurance Posted on Monday 15th April, 2024
While the odds of a major disaster hitting a specific home is the same regardless of whether the owner has a great credit score or one that puts them in a subprime category, their credit score will impact their rate in many states. In most states, insurers are allowed to consider credit scores when setting […]
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The Best Way to Check the Financial Strength of Home Insurance Companies Posted on Wednesday 3rd April, 2024
If you are switching insurance companies, you should always check the financial strength of any insurer you are seriously considering. While an affordable premium is always a plus, if your insurance company cannot afford to pay when you file a claim, the savings will certainly not be worth it. A.M. Best is a credit rating […]
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Florida’s Broward Commissioner is Asking Congress to Lower Insurance Rates Posted on Monday 1st April, 2024
A bill in the U.S. House called the Natural Disaster Reinsurance Plan, hopes to lower insurance costs for policyholders in states that opt-in to the program which will scale back the requirements regarding the amount of reinsurance that insurance companies need to purchase. Currently, a Broward commissioner is asking Congress to pass legislation he claims […]
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North Carolina Coastal Home Insurance Rates Posted on Friday 29th March, 2024
North Carolina is a fantastic place to live with plenty of cultural activities, beautiful beaches, world-class cities as well as great restaurants and shopping. The only disadvantage to living in North Carolina, particularly if your home is located in coastal area is the cost of homeowners insurance. The average premium for a standard homeowners insurance […]
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How Do Renovations Impact Home Insurance? (2024 Guide) Posted on Friday 15th March, 2024
Making renovations to your home can have a major impact on your insurance coverages as your risk profile changes. Adding square footage, putting in a swimming pool, outbuilding or upgrading your electrical may change the value of your home which could leave your underinsured. Major upgrades such as adding square footage to your home or […]
Draper, UT Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Draper so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Draper, UT?
- The average square footage in Draper is around 2,481 Sq. Ft. which would cost you around $469,000 to replace the home if you base the home on the price to build per square foot of $189.
Minimum Replacement Cost Total: $469,000
Location: Draper, Utah (Salt Lake County)
Average Building Cost Per Square Foot in Draper: $189 (low end)
Average Square Footage in Draper: 2,481 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $189 | $469,000 |
| Some Additional Upgrades | $236 | $586,250 |
| Major Home Updates or Advancements | $284 | $703,500 |
The dwelling coverage is calculated by the average cost per square foot ($189) in Draper, Utah times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $590,625 (Media price to build of $236 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.