On average, your neighbors pay $67 a month.See Your Rates
Washington is known as the Evergreen State. But the homeowners insurance risks are very different depending on whether you’re east or west of the Cascade Mountains.
How much is home insurance in Washington? Washington has some of the lowest average homeowners insurance premiums of any US state. The Insurance Information Institute reported that the average cost of homeowners insurance in the state of Washington was $811. That is far lower than the national average of $1,173. Only seven states have lower average home insurance rates than Washington.
|Washington Annual Average||$676||$695||$811|
|Washington Price Per Month||$56||$58||$67|
|US Annual Average||$1,096||$1,132||$1,173|
|US Cost Per Month||$91||$94||$97|
|Source: Facts + Statistics: Homeowners insurance|
The graph below shows the change in average Washington home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Washington homeowners insurance rates increased from $626 in 2011 to $811 in 2015, a jump of $185 dollars, or 29.55 percent.
Choosing a homeowners insurance company should be easier. The key to finding the cheapest rates is to compare home insurance quotes in Washington State from multiple 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.
The above list shows Washington’s most popular home insurers according to our users. But popular doesn’t always mean best.
Our study on the best homeowners insurance companies focuses on top of the line companies. In no particular order, these companies stand out among the rest:
|Rank||Company||Financial Rating||Market Share|
|6||American Family Mutual||A||3.5%|
|7||Mutual of Enumclaw||A-||3.3%|
|8||Hartford Financial Services||A+||3.1%|
|Ratings Source: A.M. Best Rating Guide|
Your homeowners insurance rates depend on several factors. Some are unique to each person, while others affect all Washington residents.
Every home has unique insurance risks. Two primary risks come from the home’s age and roof. Older homes usually come with higher premiums because they’re more likely to need major repairs. And certain roof types cost quite a bit more to insure, depending on the regional climate.
Also, the cost to rebuild your home from the ground up, also known as replacement cost, is a major part of your insurance premium. A higher replacement cost leads to higher premiums.
You can do some napkin math to get a rough estimate of your home’s replacement cost value. Multiply your home’s square footage by the average per square foot construction cost in your city. For more information, read our article: ‘How to Calculate Your Home’s Replacement Cost Value.’
Important distinction: replacement cost does not necessarily correlate with a house’s value. A house worth $1 million in Seattle may very well have a lower replacement cost than a house worth $250,000 in Spokane. Thus, that house in Spokane, though it’s much cheaper to buy, could cost more to insure.
Replacement cost generally accounts for these house details:
It’s not rocket science: if you have recently filed claims, expect higher home insurance rates. A claim usually stays on your record for five to seven years. During that time, filing an additional claim can cause your rates to skyrocket. That’s why many homeowners will avoid filing claims when possible.
Did you know that owning certain dog breeds can raise your rates? Like it or not, some insurance companies believe that specific dog breeds are a greater insurance risk. The same can be said for exotic pets.
According to a study by the American Veterinary Medical Association, Washington has the sixth highest rate pet ownership. Nearly 63 percent of Washington homes have a pet!
A comprehensive home insurance policy with bells and whistles will cost more than a bare-bones one. Home insurance policies come with all sorts of coverage options. If you want extra liability protection and more coverage for your belongings, for example, you’re going to pay more.
Insurance companies use your credit score to price your policy. Unfortunately, people with bad credit pay quite a bit more for home insurance than people with good credit. It’s a controversial practice, but it’s very real. Fortunately, Washington has the ninth highest average credit score in America.
Insurance companies create risk models by region. They will analyze each region and charge more for houses in areas with above-average risk.
What weather risks do Washington homes face? Well, it depends what part of Washington you live in. The Western half is wet, snowy, and prone to earthquakes. The Eastern half is dry, arid, and suffers from wildfires.
Depending on what area you live in, you can mitigate some of the weather risks. If you live west of the Cascades, make sure your roof can handle constant rains. Keep up your gutters clear and maintained. Lastly, ensure that your windows are properly sealed with weather stripping and caulk. For folks east of the Cascades, follow the suggestions from Washington’s Insurance Commissioner:
If you take steps to stop weather damages before they happen, you may qualify for lower rates.
Are homes in your area more likely to be broken into, vandalized, or burgled? That's a big factor in the price of your policy. Unfortunately, Washington has the second highest property crime rate in America. There are 3,494.1 crimes per 100,000 residents in Washington. Those numbers are likely skewed by Seattle, the city with the country’s ninth highest property crime.
Like bad weather, there are steps you can take to avoid property crime. That includes installing security cameras, alarms, deadbolt locks, burglar bars, and more.
Homeowners have many policy options when shopping for home insurance. In Washington, homeowners can choose from the following insurance types:
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