Home Insurance in Washington

Washington state homeowners insurance: what you need to know

The average cost of home insurance in Washington State is $1,133 per year ($94 per month). This is less than the national average cost. The easiest way to get a cheap homeowners insurance policy in Washington is to compare rates from multiple companies.

Unlike car insurance policies, homeowners policies aren’t governed by state legislation. Even so, there are significantant differences in home insurance rates from state to state. Policy rates in all US states may differ depending on the number and value of homeowners claims filed across the state, and depend on the value of the belongings and home insured on the policy.

Get an idea of homeowners insurance costs in Washington by referencing the below data. Remember: your rates may differ, depending on your coverage limits.

 

Table of contents:

1. Rates by company
2. Rates by coverage amount
3. Rates by deductible amount
4. Rates by city
5. Bundling savings
6. Frequently asked questions
7. Natural disaster coverage

 

The cheapest home insurance companies in Washington state

Rates for home insurance in Washington can vary depending on which insurance company you use. Safeco offers the cheapest home insurance in Washington state, at only $305 per year. This compares favorably to the state average rate of $1,133, providing an $828 price cut on average policy costs statewide.

Start searching for a cheap home insurance policy by reviewing the best Washington carriers, listed below. Then, see how each company stacks up in our list ranking home insurance carriers by a variety of factors.

AFFORDABLE HOME INSURERS IN WASHINGTON

Insurance Company	Average Yearly Rate in Washington
Safeco	$305
PEMCO Insurance	$561
Grange Insurance	$697
Travelers	$698
Allstate	$829

 

Washington home insurance prices by coverage levels

The amount of home coverage you select has an impact on the insurance premiums you pay. In Washington, maintaining $100K dwelling coverage costs an average of $523 per year, while carrying dwelling coverage up to $400K costs $1,317 per year.

 

POPULAR COVERAGE LIMITS IN WASHINGTON

Coverage Level	Average Annual Cost
$100,000 Dwelling	$523
$200,000 Dwelling	$809
$250,000 Dwelling	$899
$400,000 Dwelling	$1,317

 

Homeowners insurance deductibles in Washington

Washington homeowners have a lot of choices to make when purchasing a homeowners insurance policy, including how high or low to set their deductible. The deductible is the total dollar amount that the insured must contribute toward a covered loss. Where you choose to set your homeowners deductible corresponds directly to how much you pay in insurance premiums.

Put simply, having a higher deductible translates to lower insurance rates. As such, if you want your insurance rates to stay low, aim for a higher deductible. Keep in mind that your deductible should only be set as high as you can reasonably afford if you suffer a loss.

The following table illustrates the typical premium costs affiliated with standard homeowners deductibles.

 

HOME INSURANCE PREMIUMS BY DEDUCTIBLE IN WASHINGTON

Deductible Tier	Average Annual Homeowners Insurance Rate
$500	$994
$1,000	$899
$1,500	$848
$2,000	$782
$5,000	$668

 

Washington homeowners insurance costs by city

Home insurance rates in Washington vary depending on the city. Rates depend on city-specific variables like the number of local claims filed, giving your ZIP code weight in deciding how much you pay.

The best home insurance rates in Washington are available in Bellingham. An average home insurance policy in Bellingham costs just $973 per year — $160 less than the average policy in other Washington cities. Reference the below table to see the cheapest cities in Washington for home insurance.

 

CHEAPEST CITIES FOR HOMEOWNERS INSURANCE IN WASHINGTON

City	Average 12-Month Home Insurance Rate
Bellingham	$973
Lacey	$990
Olympia	$1,004
Sammamish	$1,020
Bellevue	$1,021

 

Learn more about homeowners insurance in Seattle.

 

Home and auto insurance bundling in Washington

If you want to save on homeowners insurance, consider purchasing both your homeowners and auto insurance policies from one company. Bundling auto and homeowners insurance in Washington can lead to substantial savings on your auto insurance bill. In fact, bundling policies in Washington state leads to a yearly discount of $110.

 

HOME AND AUTO INSURANCE BUNDLING SAVINGS IN WASHINGTON

Avg. Annual Rate (No Bundle)	Avg. Annual Rate (w/ Bundle)	Annual Savings ($)	Annual Savings (%)
$1,182	$1,072	$110	10%

 

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Washington homeowners insurance FAQs

 

Can a Washington state resident sue their homeowners insurance company?

Residents of the state of Washington do have the right to sue their homeowners insurance companies. However, before you do, it would be wise to consult with a lawyer who can go over the details of your policy and help to judge the strength of your claim.

Does homeowners insurance cover board member liability in Washington?

In most cases, an HOA's liability insurance will extend to board members in Washington. Specifically, director's and officer's insurance offers protections to board members.

 

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Natural disaster coverage in Washington

 

Does homeowners insurance cover earthquake damage in Washington?

Washington faces roughly ten earthquakes per year, which means Washington residents may want to look into acquiring an insurance policy that covers earthquakes.¹ This type of coverage doesn’t come standard in home insurance policies. Earthquake coverage comes in the form of an added endorsement to your current policy, covering damages that result from earthquakes.

Another serious concern with earthquakes happens to be aftershocks. They can be severe and can continue causing damage long in the wake of the initial event. Fortunately, you pay a single deductible for damage from the initial earthquake as well as any aftershocks within a 72-hour period.

Those who live in areas known for earthquakes often have higher home insurance premiums, especially in the highest-risk areas. Earthquake coverage is not available from most standard insurers, but there are some coverage choices for those who live in states where earthquakes are a real threat. Insurance companies in Washington may allow you to purchase an endorsement to cover damage from earthquakes. Bear in mind, deductibles for earthquakes are typically higher than for standard perils listed in your homeowners policy. In Washington, a homeowners insurance endorsement for earthquake coverage carries an additional cost of $147 per year.

Have a look at some of these great options for earthquake coverage in Washington listed below. It's important to treat these figures as estimates only, as rates will vary based on your specific property.

 

CHEAP HOMEOWNERS EARTHQUAKE COVERAGE IN WASHINGTON

Company	Average Annual Earthquake Insurance Rate
Liberty Mutual	$354
Grange	$474
PEMCO Insurance	$523
Allstate	$546
Travelers	$829

 

Does homeowners insurance cover flooding in Washington?

Flood damage — whether a byproduct of a downpour or a hurricane —is not covered by homeowners insurance policies in Washington state or any other state. To insure your home against flood damage, acquire insurance through FEMA's National Flood Insurance Program (NFIP) or via a private insurer. 

Flood insurance coverage from private companies may vary, but NFIP flood insurance covers:

• $250,000 for your home’s structure
• $100,000 for your personal property

If the value of your personal property and home exceeds these limits, consider purchasing a flood insurance policy from our partners at Neptune for additional protection.

 

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Sources:

¹United States Geological Survey

 

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