Homeowners Insurance in Washington

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Finding the Best Homeowners Insurance in Washington

Washington is located in the beautiful Pacific Northwest, and is home to Mount Rainier, rainforests, Seattle, high technology, and coffee. With lush rainforests and 2500 miles of Pacific Ocean coastlines to the west, farming in the east, amazing mountains and rivers, and a border with Canada, Washington has a truly diverse geography and climate. The average price of a home in Washington is $286,000, with higher priced homes around Seattle and Yakima. Washington home insurance is designed to provide property damage coverage for your home and protect your belongings. Most people associate rain with the Pacific Northwest for good reason, but Washington’s diverse climate includes snow in the mountain ranges, and a drier climate in the east. Washington homeowner’s insurance rates depend on several factors, including location of your home, and risk factors involved. Coastal areas are subject to ocean surges and landslides, those mountains are actually active volcanoes, earthquakes are prevalent and forest fires are a real risk. The best homeowners’ insurance in Washington covers damage caused by fire, water, weather and more, with added coverage for property and bodily injury. It is wise to obtain Washington homeowners insurance quotes from several companies before making your final decision. Coverages, companies, and rates vary greatly and doing your homework is key.
Washington Homeowners Insurance Cost Broken DownPrice
Yearly Cost of Homeowners Insurance in Washington$1,551.00
Costs Per Month for Homeowners Insurance in Washington$129.25

How Much is Homeowners Insurance in Washington

Washington homeowner’s insurance rates are below the national average. Whether you choose to live in the city, coast, mountains or in rural areas, your choice of insurance will vary. Factors that contribute to homeowner’s insurance in Washington include square footage of your home, building materials used, surrounding property features, and likelihood of natural disasters. Washington has plenty of potential for natural disasters, with Mount St Helens being the most famous example. The Cascade Range is comprised of many active volcanoes. The forests are susceptible to woodland fires, the coasts are at risk for ocean surges and landslides, and earthquakes are a normal occurrence – although most are small. Then of course, there is normal precipitation in the forms of rain and snow. Flood insurance is a prudent add-in for extra protection. Volcano, earthquake, and mold insurance are all options. So, how much is homeowner’s insurance in Washington? Here are some statistics on homeowner’s insurance rates in Washington: ● Least expensive city for homeowner’s insurance in Washington is Bremerton ● Most expensive city for homeowner’s insurance in Washington is Yakima ● The average annual cost of homeowner’s insurance in Washington is $822 ● The average monthly cost of homeowner’s insurance in Washington is $69 ● Percentage of homeowners occupied units spending 30% or more on rent and utilities is 36% ● Annual premium of most expensive homeowners’ insurance in the state by city is $1293 ● Annual premium of cheapest city in the state for homeowner’s insurance is $695

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Washington Homeowners Insurance Laws

Washington homeowner’s insurance requirements vary depending on whether you have a mortgage. Washington does not have a law mandating insurance, but if you have a mortgage your lender may require it, as mortgage companies want to protect their investment and you need to be covered at least up to the replacement cost of the home. If you don’t have a mortgage, homeowner’s insurance is still a good idea. Unless you have a big savings account to cover the cost of damages, you are taking unnecessary chances. Choosing the right coverage for your situation takes a little bit of homework. Homeowners insurance protects you against two types of risks. The first is damage to your property from natural disasters, accidents, or theft. The second is protection from being liable or financially responsible if someone is injured on your property. If you are involved in a lawsuit, you will want to be protected from excessive medical bills and financial losses. No matter where to live and the condition of your home, you are at risk for something. Your insurance company will keep you up to date on updates to Washington homeowner’s insurance laws.

What Does Homeowners Insurance Cover in Washington

Homeowners insurance coverage in Washington has a few options. Basic Coverage provides a minimum coverage on your dwelling and personal property. It insures against fire, lightning, vandalism, and theft. It typically covers repair or replacement of your damaged or destroyed home, including attachments, such as garages, decks and other structures. Additional coverage may be needed if you have multiple dwellings, use any structures for a home-based business, or rent out any structures on your property. Personal property is generally covered for the used value. Policies often cover loss of use or additional living expenses if you house is damaged or destroyed and you need another place to stay. There may be limited coverage from damage to trees, plants, or shrubs. Coverage is usually limited to sudden and accidental damages. General wear and tear are not covered. Depending on location, Washington residents will want to investigate extra coverages including earthquake insurance, flood insurance, mold insurance and volcano coverage. Damage from land movement or landslides is not typically covered. Evaluate your location and current situation and choose the coverage that fits your needs. Many people buy too little or too much coverage, so reading the fine print and asking yourself, what does homeowner’s insurance cover in Washington, is important.

Top Rated Homeowners Insurance Companies in Washington Based on Ratings

There are several top rated homeowner’s insurance companies in Washington. Some have personal service, local offices, online applications and 24 out of 7 claim filings. Here are a few of the best homeowner’s insurance companies in Washington. With a J.D. Power rating of 5 out of 5 stars and an A+ Better Business Bureau ranking, Amica ranks high in coverage options and service. Liberty Mutual, State Farm, Nationwide and Farmers are all well-known, national companies who cover a lot of homes in Washington. Rates vary with plenty of discount opportunities, and no hassle claims-management services. USAA always ranks high for military families and veterans. Travelers and Allstate also have high overall customer satisfaction scores. Chubb covers higher end homes. A lesser known option is Mutual of Enumclaw. They have excellent rates, good customer service and a variety of options including a robust wildfire monitoring and protection system. In Seattle and Spokane, Geico homeowner’s insurance in Washington has agents ready to talk about specific coverages for Evergreen State residents. This is not an exhaustive Washington homeowner’s insurance companies list by any means, as most major companies offer quotes. It is a good idea to talk to several agents to find the one that best fits your needs.

How to Lower Homeowners Insurance in Washington

There are several strategies to lower homeowner’s insurance in Washington. First – shop around. As mentioned, there are a lot of options for homeowner’s insurance and it’s best to get several quotes. Consider the deductible, coverages, and how much your home will actually cost to replace – not for what it will sell for in the current market. The condition of your home can also make a difference – cleaning up the yard of fire hazards, adding a new roof or storm shutters, upgrading the plumbing or electrical, or building a retaining wall to keep out water. Adding a security system might also garner you lower rates. Washington homeowner’s insurance discounts varies from company to company. If you are with an insurer for a long period of time and you do not file claims, you will have a lower rate than someone who has poor credit. Some companies offer discounts if you bundle your auto insurance and homeowner’s insurance. Other discounts might include being a first-time home buyer, or a discount for paperless automatic billing. Be sure and check out local and national companies as they both have their advantages. Review your current policy periodically to make sure the coverage is appropriate and pay attention if the Washington homeowner’s insurance rates increase in 2021.

Compare Homeowners Insurance in Washington Before Buying

We can’t say this enough – compare homeowner’s insurance rates in Washington. Read the fine print and get the coverage you need, but not too much. Before you even purchase a home, keep insurance in mind. Is the home close to a volcano? Is the land stable? Will you need to do fire mitigation or major home renovations? Washington rates and risks vary greatly throughout the state, depending on location. Keep this in mind while shopping for homeowner’s insurance in Washington. Do your research, find out how easy it is to file a claim, check with your neighbors to see who they might recommend. Find a company and representative that will give you peace of mind. Always ask for discounts and consider bundling services. Review your policy every 6 months to ensure the optimal rates and coverage. With the lowest rates in the nation, affordable homeowner’s insurance in Washington is a reality.