Compare Homeowners Insurance Quotes In Washington

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Best Home Insurance Rates In Washington

Washington is known as the Evergreen State, but the geography, weather and homeowners insurance risks are very different depending on whether you’re east or west of the Cascade Mountains.

Average Washington Homeowners Insurance Rates

Washington has some of the lowest average homeowners insurance premiums of any US state. In 2014, the Insurance Information Institute reported that the average cost of homeowners insurance in the state of Washington was $695. That is far lower than the national average of $1,132. Only 3 states have lower average home insurance rates than Washington.

Washington State Average Annual Homeowners Insurance Rates
  2012 2013 2014
Washington Annual Average $648 $676 $695
Washington Price Per Month $54 $56 $58
US Annual Average $1,034 $1,096 $1,132
US Cost Per Month $86 $91 $94
National Rank 48 47 47
Source: http://www.iii.org/fact-statistic/homeowners-and-renters-insurance

Compare Home Insurance Quotes in Washington

Choosing a homeowners insurance company should be easier. Actually, it’s already easy; you could just go with whichever company your mortgage lender recommends, but you probably won’t get the best rates that way. The key to finding the cheapest rates is to compare home insurance quotes in Washington State from multiple companies.

Best Washington State Home Insurance Companies

Last year, these were the 10 most common home insurance companies reported by QuoteWizard users living in the state of Washington. Out of the 13,406 Washington homeowners that used QuoteWizard to request insurance quotes last year, 677 had no home insurance.

  1. Allstate Insurance
  2. Farmers
  3. Geico
  4. American Family
  5. Progressive Casualty
  6. Safeco
  7. Liberty Mutual
  8. AAA Insurance Co.
  9. USAA
  10. Hartford Insurance Co.
Get a quote from some of these top rated insurers! Request Quote Get a Quote From Top Insurers

Why contact every individual company in Washington State that you want a homeowners quote from when you can just answer a few questions about your home and desired coverage, and get competing quotes from agents? Save time and money with QuoteWizard.

Top 10 Washington Home Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Direct Premiums Written (in thousands) Market Share
1 Farmers Insurance Group of Cos. $201,633 13.7%
2 Liberty Mutual $185,891 12.7%
3 Allstate $167,561 11.4%
4 USAA Insurance Group $112,167 7.6%
5 PEMCO Mutual Insurance Co. $86,916 5.9%
6 American Family Mutual $50,810 3.5%
7 Mutual of Enumclaw Insurance Co. $47,739 3.3%
8 Hartford Financial Services $45,021 3.1%
9 MetLife Inc. $39,174 2.7%

Financial Strength Ratings of Washington Home Insurers

Source: A.M. Best (Ratings as of 9/10/2015)

  • Farmers Insurance Group of Cos: A
  • Liberty Mutual: A
  • Allstate: A+
  • USAA Insurance Group: A++
  • PEMCO Mutual Insurance Co: A-
  • American Family Mutual: A
  • Mutual of Enumclaw Insurance Co: A-
  • Hartford Financial Services: A+
  • MetLife Inc: A+
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Rating Guide

Homeowners Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some factors that affect the cost of homeowners insurance in Washington.

Average Home Listing Prices

Home prices can greatly affect the cost of insurance in a state. A higher average home price generally means higher premiums in that state. For Washington, the average listing price is $331,088 as of July 2015, significantly higher than the national average of $284,748.

Home Insurance Hazards West of the Cascades

Western Washington has some home hazards that are unusual for most of America.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In Washington, there are 30.9 law enforcement personnel per 100,000 total citizens, which is marginally lower than the national median of 32 per 100,000.

Volcano: Mt. Rainier, the tallest mountain in the state of Washington, is also a volcano. In fact, geologists consider it among the world's most dangerous volcanoes. It’s less than 60 miles from Seattle, and even closer to Tacoma. If it were to erupt, it could damage or destroy thousands of homes.

Tsunami: With Western Washington bordering the seismically active region referred to as the Pacific Ring of Fire, there is a substantial risk that the Washington coast could be struck by a tsunami as a result of a large earthquake in Japan, Alaska, or even the Pacific Ocean's seafloor.

Western Washington also has some more typical home hazards, reflecting the local climate and geology.

Mold: Because it’s typically so damp for nine months out of the year, Western Washington homes are at an elevated risk of mold.

Flood: Mold isn’t the only homeowner hazard issue caused by Western Washington’s rainy weather; flooding is a frequent occurrence on rivers in the area. Remember, standard homeowner’s insurance policies don’t cover flood damage. The only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here.

Earthquake: According to the US Geological Survey, Washington is the 5th most seismically active state. While earthquakes are not covered by a standard homeowners insurance policy, most insurers can add an earthquake coverage endorsement to your policy. However, in areas that are prone to earthquakes, your deductible will be significant.

Landslide: Any place that combines mountains, hills and rain like Western Washington is going to have a significant risk of landslides. For evidence of this fact, one need look no further than the massive, lethal landslide that occurred near the rural community of Oso, Washington in March of 2014. Most homeowners policies do not cover landslides or mudslides. If your home is perched at the top of a hill or the foot of a hill, you should discuss how to reduce your risk with your insurance agent or broker.

Homeowners Hazards East of the Cascades

Being on the dry side of the Cascades, away from the coast, and less seismically active than Western Washington, the above hazards are less of a concern in Eastern Washington.

However, Eastern Washington has a few hazards that are a bigger issue there than in Western Washington.

Winter Weather: Accumulating snowfall and sub-freezing temperatures are relatively rare in the lowlands of Western Washington, where the bulk of the population lives. It is much more common in Eastern Washington. For instance, Spokane, the largest city in Eastern Washington, averages 45 inches of snow per year. Seattle averages only 7 inches of snow. Accumulating snow and ice can collapse roofs and bring down power lines, and temperatures as high as the teens can cause pipes to freeze and burst.

Wildfire: Washington gets much less rain east of the Cascades. As a result, wildfires are a common occurrence in Eastern and Central Washington, particularly in the summer.

Washington State Office of the Insurance Commissioner

Website:
Homepage
Insurance Commissioner:
Mike Kreidler
Insurance Hotline:
800-562-6900
Office Hours:
Monday - Friday
8:00 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

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