2022 Annual
Homeowners & Private Passenger Automobile
Insurance Comparison Tables
The comparison tables provide examples of four zip codes in Utah. The zip codes used in the comparison samples
are; 84060 – Park City, 84713 - Beaver, 84015 - Clearfield, 84738 - Ivins. Look at the comparisons for the zip code
that is most similar to where you live. A comparison table of earthquake premium is located on page 7.
The insurance companies providing information for this comparison are the top 20 companies based on the highest
volume of homeowners and private passenger auto insurance premiums in Utah. This list is NOT A
"RECOMMENDATION" by the Insurance Department. Your insurance professional can provide you with a
premium quote to fit your circumstances. Consumers are cautioned that price is not the only factor to consider when
choosing an insurance company. You should also consider the service provided by the company and the agent, the
financial stability of the company, as well as the available coverages. Most insurers use their own credit criteria to
determine premium and eligibility. Your premium will also vary based on eligible credits and/or discounts,
surcharges, and additional coverages you select. Your insurance professional can advise you about additional
coverages, available credits and/or discounts for your situation. If you decide to change companies make sure the
coverage is the same or better. To avoid possible early cancellation charges, the best time to change companies is on
your renewal date. Check with your current company to determine potential additional amounts owed and early
cancellation charges.
Loss & Expense Ratios
In general terms, the loss ratio is, losses paid compared to premiums. The expense ratio is, administrative expense
compared to premiums. The combined loss and expense ratio is, losses paid combined with administrative expenses
compared to premiums. If the combined loss and expense ratio is more than 1.000 it means the company has paid out
more for claims and expenses than it collected in premiums. Example: a ratio of 1.150 means the company paid out
$1.15 for every $1.00 of premium received.
Complaint Ratio
By statute the Utah Insurance Department is required to calculate a complaint ratio for each company in the table.
Showing a ratio rather than the actual number of complaints levels the playing field between the companies.
Companies with a larger portion of the market are expected to have more complaints than companies with a smaller
amount of the market. Comparing the number of complaints is like comparing apples to oranges. The ratio gives a
comparison of apples to apples. The Department reviews complaints from consumers to determine whether there
was a violation of Utah Code or Rules. Complaints opened in 2021, determined to be valid, are used to calculate the
complaint ratio for each company. The ratio calculation is based on the valid complaints per $100,000 of earned
premium.
This is how a complaint ratio is calculated for a sample company with 10 complaints and $20,000,000 earned premium:
Step 1: 20,000,000/100,000 = 200
Step 2: 10 ÷ 200 = 0.0500 (complaint ratio per $100k earned premium, similar to ratios shown in the tables)
Step 1: 20,000,000/100,000 = 200
Step 2: 0.0500 x 200 = 10 (number of complaints calculated by reversing the formula)
As required by law, the Utah Insurance Department has prepared this guide to auto
and homeowners insurance. This annual guide provides general information about
auto and homeowners insurance, and about some of the insurance companies that
write this coverage in Utah. It is hoped this will be helpful to you.
Taylorsville State Office Building
4315 S 2700 W STE 2300
Taylorsville, UT 84129
(801)957-9305
(800)439-3805 (toll free in Utah)
http://www.insurance.utah.gov
Insurance Department
Jonathan T. Pike
Commissioner