Wyoming homeowners cope with relatively few disasters compared to other states. Still, home insurance may not be enough in Wyoming to financially protect a home because it generally doesn’t cover floods, and flooding regularly affects the state.
Wyoming floods are often caused by snow melt runoff in the spring and early summer. To have proper coverage you’ll need flood insurance, which is available through the National Flood Insurance Program (NFIP). A Wyoming home insurance agent can help you get an NFIP policy.
What does Wyoming homeowners insurance cover?
There are the six main coverage types within a standard Wyoming home insurance policy:
- Dwelling coverage in case the house is damaged by problems such as fire, tornado or the weight of snow.
- Personal property coverage for belongings that are damaged or stolen.
- Other structures coverage for things that aren’t attached to a house, like a fence or garage.
- Loss of use coverage for additional living expenses such as hotel bills if you can’t live at home due to damage to the house.
- Personal liability coverage in case you or your household members are legally responsible for someone else’s injury or property damage.
- Medical payments to others coverage for people hurt on your property, such as a slip and fall injury.
How much is Wyoming home insurance?
The average Wyoming home insurance premium is $1,120 a year for a typical policy, according to the National Association of Insurance Commissioners. That’s about the same as the nationwide average of $1,192 a year.
20 largest Wyoming homeowners insurance companies
|Rank in Wyoming||Company||Market share % in the state|
|3||Mountain West Farm Bureau Mutual Insurance Co.||16.44|
|15||American Family Insurance||1.2|
|17||ACUITY A Mutual Insurance Co.||0.67|
|19||Badger Mutual Insurance Co.||0.56|
|Source: S&P Global Market Intelligence, based on homeowners multiple peril insurance market share in 2018.|