Best Home Insurance Rates In Washington, D.C.

On average, your neighbors pay $100 a month.

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Washington, D.C. is home to a number of historically and politically significant monuments and institutions. D.C. is home to Congress, the President, the Supreme Court, 176 foreign embassies, and headquarters of many international organizations. Washington is also home to many presidential memorials, the National Archives, the Library of Congress, and the Smithsonian Institution. The District is unique in that it is not part of any state, though the larger metropolitan area is the seventh-largest in the nation. But, our nation’s capital is home to a number of homeowners insurance risks as well.

Average Washington, D.C. Homeowners Insurance Rates

How much is home insurance in Washington, D.C.? Homeowners insurance premiums are slightly higher in the nation's capital than the rest of the country. The average cost of homeowners insurance in Washington, D.C. was $1,196. That's slightly above the national average of $1,173. Eighteen states have higher average home insurance rates than Washington, D.C.

Washington, D.C. Average Annual Homeowners Insurance Rates
  2013 2014 2015
Washington, D.C. Annual Average $1,150 $1,151 $1,196
Washington, D.C. Price Per Month $96 $96 $100
US Annual Average $1,096 $1,132 $1,173
US Cost Per Month $91 $94 $98
National Rank 17 18 19
Source: Facts + Statistics: Homeowners and renters insurance

The graph below shows the change in average Washington, D.C. home insurance rates from 2011 to 2015, the most recent year the data is available. According to the III, Washington, D.C. homeowners insurance rates increased from $1,083 in 2011 to $1,196 in 1,993, a jump of $113 dollars, or 10.43 percent.

Washington, D.C. average homeowners insurance rates

Choosing a homeowners insurance company in Washington, D.C. should be easier. Actually, it’s already easy. The key to finding the best rates is to compare homeowners insurance quotes in Washington, D.C. from multiple companies.

Best Washington, D.C. Home Insurance Companies

Last year, these were the 10 most common home insurance companies reported by QuoteWizard users living in Washington D.C. Out of the 728 Washington D.C. homeowners that used QuoteWizard to request insurance quotes last year, 44 had no home insurance.

  1. GEICO
  2. Allstate
  3. Nationwide
  4. Liberty Mutual
  5. Travelers
  6. American Family
  7. Progressive
  8. 21st Century
  9. MetLife
  10. Farmers
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Why contact every individual company in Washington, D.C. 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 Washington, D.C. Home Insurance Company Market Share

Source: Insurance Information Institute
Rank Company Direct Premiums Written (in thousands) Market Share
1 Travelers Companies Inc. $30,862 21.9%
2 Chubb Corp. $14,849 10.5%
3 Allstate $14,130 10.0%
4 USAA Insurance Group $13,438 9.5%
5 Nationwide Mutual Group $6,475 4.6%
6 Liberty Mutual $6,345 4.5%
7 Allianz Group $4,549 3.2%
8 Erie Insurance Co. $4,373 3.1%
9 Hartford Financial Services $3,685 2.6%

Financial Strength Ratings of Washington, D.C. Home Insurers

Source: A.M. Best (Ratings as of 8/5/2015)

  • Travelers Companies Inc.: A+
  • Chubb Corp: A++
  • Allstate: A+
  • USAA Insurance Group: A++
  • Nationwide Mutual Group: A+
  • Liberty Mutual: A
  • Allianz Group: A
  • Erie Insurance Company: A+
  • Hartford Financial Services: A+
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Home 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 of the factors that affect the cost of homeowners insurance in Washington, D.C..

Average Home Listing Prices

Home prices can greatly affect the cost of insurance in any given state. A higher average home price generally means higher premiums in that state. For Washington, D.C., the average listing price is $672,472 as of July 2015, more than twice the national average of $284,748.

Average Burglary Rates

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average home insurance premiums, because the likelihood that someone will need to file a claim is higher. According to data from the FBI Uniform Crime Report, in 2013, Washington, D.C.’s average burglary rate was 513.0 per 100,000 people, which is slightly lower than the national average of 610.0 per 100,000.

Home Insurance Hazards

D.C. has a four season climate, as is typical of the region. Summers tend to be quite warm and humid, while winters are cool and snowy. The hot and humid summers often lead to thunderstorms and occasional tornadoes. While The District is occasionally affected by hurricanes, this effect is much less than neighboring states.

Hot and humid summers: Summers in Washington, D.C. are hot and humid. The hottest month of the year is July, with an average high of 88 degrees. The heat tends to stay until September, when the average high is 80 degrees, but it usually is gone by October, when the average high is only 68. July has the most days with temperatures over 90 degrees, with an average of 12. In July, average humidity levels are 70%, and it goes up to 73% in August. The combination of heat and humidity makes the heat feel even hotter, and can be quite uncomfortable. High humidity like this can damage to homes because it encourages mold and mildew development.

Cold, but variable winters: In the District, winters tend to be cold, but not nearly as cold as nearby states. The coldest month of the year, January, sees an average high of 43 degrees and a low of 29 degrees. December and February tend to be cold as well, but not as cold, and are certainly above freezing on average. Snow is common but not severe in D.C. The snowiest month of the year is January, with an average of 3 days and about 5.6 inches of snow. February sees the second most snow, with 4.8 inches, bringing the annual total to 14.5 inches. Snow season begins in November and ends in March, but is very light in the beginning and end.

Washington, D.C. is the most thunderstorm-prone state, home to the top four major US cities on the list of most days per year with thunderstorms. The major US city with the #1 most thunderstorms per year is Tampa, with 82.7 days per year on average. Orlando is second, with 81.8 days, followed by Miami with 72.3 days, and Jacksonville with 68.4 days. Miami is also the #2 rated major US city in terms of total rainfall, most of which occurs between June and October, mostly in the form of thunderstorms.

Thunderstorms: The hot, humid conditions of summer often give way to thunderstorms, which can be quite violent. Thunderstorms involve heavy rain, strong winds, lightning, and sometimes hail, tornadoes, or flash floods. D.C. summers usually have about 18 days of thunderstorm activity, which makes up the bulk of all thunderstorm activity. These thunderstorms range from mild to severe, and the most severe ones can bring about tornadoes, though not very often. The most recent tornado was in September of 2001, when a string of nine tornadoes affected the larger D.C. area, injuring 57 people. Flooding is also a concern in D.C., especially during thunderstorm season. The Potomac River that traverses the city has flooded on occasion, mostly affecting the Georgetown neighborhood. It is important to note that the only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here.

Washington, D.C. Department of Insurance, Securities, and Banking

Website:
Homepage
Insurance Commissioner:
Stephen C. Taylor
Insurance Hotline:
(202) 727 – 8000
Office Hours:
Monday - Friday
8:15 am to 4:45 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

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