Average Cost of Renters Insurance in Seattle
The average cost of renters insurance in Seattle is about $14 a month, lower than the national average of $15 a month. Premiums for renters insurance in Seattle can range from as low as $10 a month to as much as $30 a month, depending on coverage limits. Renters can expect to pay an average of $163 a year.
Below you will find a table with information about the cost of renters insurance in Seattle. Paying more per month can get you more total coverage for various purposes, including protecting your personal belongings and covering a hotel room should a disaster force you out of your home. Coverage amounts vary tremendously, so you have plenty of flexibility when choosing how much coverage you need.
|Coverage amount||Average cost per month||Average cost per year|
|Source: National Association of Insurance Commissioners (2019)|
Getting a renters insurance policy in Seattle is cheaper than the national average renters insurance cost — at $14 a month. But we recommend making sure that you are completely covered. While a $10-a-month plan may sound appealing if you don’t think you need much coverage, you can more than triple your coverage to $44,000 for only an additional $4 per month. Renters insurance offers fantastic value in Seattle at this middle range, and even better value at the high end, where you can get massive coverage for $30 a month.
Seattle, with a population of more than 750,000 people, has a high percentage of renter-occupied housing units, at 51%. Even so, renters insurance is an optional product in Seattle — it is not legally required. However, for the many renters in Seattle, it can be important for peace of mind and protection. A renters insurance policy covers your belongings in the event your rental property suffers damage from common incidents including fire, smoke, wind, vandalism, theft and more. Most renters in Seattle would be wise to consider at least some form of coverage.
Seattle is expensive. But your renters insurance doesn't need to be.
Which companies offer renters insurance in Seattle?
There are many companies that offer renters insurance in Seattle. Options range from large, national corporations such as State Farm to local institutions like Mutual of Enumclaw. People hunting for renters insurance should choose the company that best suits them. Which one they choose may depend on a variety of factors, including whether a company has specialized local knowledge of the area or if they have a solid customer service record.
Of special significance are overall customer satisfaction scores and NAIC Complaint Index scores. The latter indicates how many complaints a company receives relative to its size. Take a look at the chart below to get an idea of some of the companies that offer renters insurance in Seattle:
|Company||2019 J.D. Power overall satisfaction (out of 1,000)||2019 NAIC Complaint Index (lower is better)|
|Mutual of Enumclaw||—||0.45|
For more information on some of Seattle’s best renters insurance companies, check out our rankings of the best renters insurance companies in the U.S.
Compare rates from Seattle's best renters insurance companies.
Understanding your renters insurance quote in Seattle
Deciding how much renters insurance you need to protect you and your family’s things is crucial. To do so, it’s best to understand the types of coverage found in a renters insurance plan. A renters insurance quote should contain four separate types of coverage, each with its own limit: (1) personal property, (2) loss of use, (3) personal liability and (4) medical payments to others.
Renters insurance coverages
Personal property coverage is essential because it protects the possessions and goods within your home. It is certainly not an aspect of your policy that you want to skimp on, as you want to be sure you have a high enough coverage limit to protect all of your belongings. Most personal property coverage guarantees protection from disasters such as windstorms and smoke damage, but be aware that typical plans do not cover flooding. For that, you’ll need a separate flood insurance policy.
Don’t underestimate the value of your belongings. When you total everything you have, you may be surprised to find how much it is worth — and how much you would hate to lose that value. Most people’s belongings hover in the $20,000 to $30,000 range, but you should do a thorough evaluation of your things when buying renters insurance to be sure your policy fits you. If any part of your coverage is worth over-insuring as opposed to under-insuring, this is it.
Loss-of-use coverage helps pay for additional living expenses if your home becomes unlivable for any reason. That might sound unlikely, but thousands of people are forced out of their homes every year due to disastrous events. Hotel room costs can pile up quickly, so renters insurance is a wonderful thing to have in this scenario. Most plans offer around $3,000 to $5,000 for loss-of-use coverage.
Personal liability coverage protects you should you be sued for accidentally injuring someone or damaging their property. Personal liability claims may include medical bills, legal fees and more, all of which can be very pricey. You should be aware that personal liability coverage does not cover things such as automobile accidents, injuries sustained by you or family members in your home and business activities or claims related to your profession. Many renters insurance policies can net you up to (and sometimes more) than $100,000 in coverage for personal liability.
Medical payments to others coverage is specific to injuries that occur to guests within your own home. Let’s say you’re having friends over for dinner and one of them stumbles and falls on a flight of stairs and breaks an ankle — things might get costly. That guest may need an ambulance, paramedics or even surgery. Renters insurance can step in to help pay those costs and ensure that both you and your guests have peace of mind when gathering at your rental unit.
These coverages and limits are perhaps the most important things to keep in mind when you are comparing renters insurance quotes. If a quote does not provide sufficient coverage for your needs, it does not matter how cheap it is.
Are there any special requirements for renters insurance in Seattle?
Renters insurance is not mandated by law in Seattle. However, landlords can require it as a component of your lease, should they wish. Be aware that a landlord may have separate insurance policy covering their property that will not help you should something happen to your stuff. You need to make sure you have your own renters insurance policy apart from your landlord’s. You should always check with your landlord or potential landlord to ensure a smooth process of acquiring renters insurance and applying it if something happens to your rental unit.
In instances where your landlord requires renters insurance, they are considered an “interested party” and will be notified of your coverage. If you live with roommates, everyone in the house will likely need their own renters insurance policy, unless they are family members.
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