Homeowners Insurance in Washington

What factors influence my home insurance rate?

So, how much is homeowners insurance in Washington State? 

The cost of home insurance in the State of Washington can vary based on several factors. Here are some common ones that insurance providers consider when determining your rate:

• Location: Homes in areas prone to natural disasters like floods or earthquakes may have higher premiums. Urban areas like Seattle may also have higher rates due to higher property values.
• Claim history: If you’ve made a claim in the past three to five years, you may pay more for insurance or even have trouble getting coverage.
• Credit score: Homeowners with better credit usually pay lower premiums.
• Home’s age: Newer homes often cost less to insure than older ones.
• Home’s construction: Homes made of wood are generally more costly to insure than those built with brick or stone.
• Deductibles: Policies with lower deductibles mean you’ll pay less out of pocket if you make a claim, but your premiums will be higher.
• Coverage: The amount and type of coverage you choose for your home, personal property, and liability protection can affect your premium.
• Home-based business: Running a business from your house may raise your insurance premium to cover inventory, equipment, and supplies.
• Swimming pool: If you have a swimming pool, your liability coverage may increase to account for potential injuries.
• Home renovations: Upgrading your house, like adding more space or using costly materials, can increase your premiums.

Common insurance discounts in Washington

To help offset the cost of Washington State home insurance, many providers offer various discounts. Here are some common discounts available to homeowners in Washington State:

Early quote discount

If you get a quote for insurance well before the policy starts, you may get a discount. 

This can apply if you receive a quote now for a home you'll close on in a few weeks or if you switch insurers and time the start of the new policy with the end of your current one. 

Make sure to check with your provider for details.

Claims-free discount

If you haven’t filed a claim for several years, you may qualify for a claims-free discount. It can apply even if you switch insurance providers. 

Note: First-time homebuyers may not be eligible right away.

Safety discounts

Homeowners in the State of Washington may receive a discount for having security systems or fire protection measures, such as smoke alarms or fire extinguishers.

Multi-policy discount

Bundling your homeowners insurance with another policy, such as auto insurance, can help you save money. The savings depend on your provider and the type of insurance you bundle.

New home or new buyer discount

Some insurers offer discounts for new construction homes or first-time buyers. The definition of “new” can vary, so ask your agent about your home’s eligibility.

Tips for lowering home insurance rates

No matter where you live, you can often lower your average home insurance cost in Washington by taking a few easy steps. 

Here’s how you can save on your house and contents insurance in Washington (WA):

• Keep up with maintenance: Make sure your home is well-maintained. Keeping your roof in good condition is crucial for lowering your insurance premiums.
• Improve your credit: Your credit score can affect your insurance rates. Homeowners with higher credit scores usually pay less. While it takes time to improve your credit score, paying off debts and paying bills on time can help lower your insurance costs.
• Minimize claims: Avoid making small claims, as fewer claims can lead to lower premiums. Only file a claim if the repair costs exceed your deductible.
• Be a loyal customer: Staying with the same insurance company for 5 to 10 years can earn you a discount of 5% to 10% on your premiums.
• Add security features: Installing smart devices such as smoke detectors, a home security system, and deadbolt locks can give you a discount of around 5%. 
• Increase your deductibles: Raising your deductible from $500 to $1,000 could lower your premium by up to 25%.
• Shop around: Before you buy a new home insurance policy in Washington (WA) or even renew an existing one, it's best to get quotes from several providers in Washington. Comparing these quotes will help you find the coverage you need at a price you can afford.

What does Washington home insurance cover?

Homeowners insurance in Washington State helps protect your home and property. Here’s a clear breakdown of what a typical house insurance policy in Washington (WA) can cover:

• Dwelling: This coverage helps pay for repairing or rebuilding your home's structure and attached structures if they are damaged during a covered event. It includes your attached garage, screened-in porch, deck, and built-in materials such as appliances and countertops. 
• Personal property: It helps protect your belongings from theft, fire, or other covered perils. It may include items such as jewelry, sports equipment, artwork, clothing, and furniture.
• Loss of use: If you have to leave your house due to a covered loss, this coverage policy pays for your temporary housing costs and living expenses.
• Medical payments (Medpay): Regardless of who is at fault, this covers medical expenses if someone who doesn’t live with you gets injured on your property. It also covers you, your family member, or even your pet.
• Other structures: This covers unattached structures such as a fence, pool, detached garage, or shed.
• Personal liability: This coverage helps provide financial and legal protection if you’re responsible for injuries or property damage to others.

It's important to remember that Washington (WA) house insurance coverage under your policy may have exclusions and conditions. Make sure to read your policy to understand what is covered.

Additional Washington insurance coverage options

Washington homeowners insurance policies can cover various perils. However, if your house is in an area with unique dangers, it’s smart to add additional coverage to protect against these threats. 

Some of the main perils for homeowners in Washington state include floods, fire, and severe storms. For example, according to one report, there’s more than an 80% chance that ten or more flood events will occur in any given year in the state. 

Without further ado, here’s a list of additional coverage options homeowners in Washington State may consider:

Earthquakes & landslides

Standard home insurance – including the best homeowners insurance in Washington State – doesn’t cover earthquakes or other earth movements such as mudslides or landslides.  

You may need separate earthquake insurance or an earthquake endorsement. Note that earthquake insurance often has a separate deductible, which can be around 10% to 25% of your coverage amount.

For instance, with a 20% deductible on $200,000 of coverage, you’d have to pay $40,000 before your insurance helps with earthquake damage.

Flooding

Like earthquake insurance, your typical home or condo insurance in Washington State doesn’t include flood damage. Homeowners in flood-prone areas may need separate flood insurance. 

To check your flood risk, you can view the Federal Emergency Management Agency's flood maps. Even if your home is low risk, flood insurance can help provide peace of mind. 

Remember, there's usually a 30-day waiting period before flood insurance takes effect.

Guaranteed roof replacement

Only some home and contents insurance in Washington (WA) provide this option, and only some homes qualify (your roof usually needs to be within a certain age range), but guaranteed roof replacement could be worth it if you can get it. 

Windstorm coverage

Windstorm coverage protects your property from damage caused by wind, hail, or other weather events. 

Based on where you live, your insurance provider might require you to include windstorm insurance with a separate deductible.

Water backup

Water backup coverage helps if a sump pump, sewer line, or clogged drain causes water damage in your home.

Equipment breakdown coverage

Equipment breakdown coverage pays for repairing or replacing covered equipment, like HVAC, electrical systems, and major appliances. 

Covered items vary by provider, and this coverage only applies to damage from wear and tear. It doesn’t cover damage from poor maintenance or improper modifications.

What coverage is recommended in Washington

Given the state's unique weather conditions and natural disaster risks, the following coverage options are often recommended to Washington homeowners:

Flood insurance

Your typical homeowners insurance in Washington doesn't include flood damage, which can be a big problem in Washington's diverse landscape. 

Seasonal rains, coastal storms, and melting snow can all cause floods, including flash floods. Even if you don't live in a flood zone, flooding can still happen outside these areas.

This is why it’s a must-have coverage. 

Wildfires

According to the Insurance Information Institute, the State of Washington ranks eighth in the nation for wildfire risk in 2023.

Some of the best homeowners insurance in Washington State covers damage from fires. However, it's important to check your policy for any exceptions and ensure you have adequate coverage – especially for wildfires. 

Check your dwelling coverage limit, which is the amount your insurance will pay to rebuild your home. Since a major fire can destroy your entire house, ensure you have enough coverage to rebuild if necessary.

Scheduled personal property

Scheduled personal property refers to valuable items that exceed your policy limits. 

Adding this endorsement can extend your coverage to include jewelry, computers, collectibles, watches, and other high-value items.

Usually, you'll need to provide receipts or appraisals to get this coverage.

Insuring your home in Washington

Whether you're looking for home insurance in Vancouver, WA, or even for Washington condo insurance, insuring your home in the Evergreen State is incredibly easy and involves a few steps. 

Let’s explore:

Determine your coverage needs

Wondering how much insurance coverage you require? To estimate, you need to take a home inventory – a detailed list of all your personal property inside and outside your home. 

When trying to understand home insurance Seattle, WA or any other parts of the region, calculate the amount you need to rebuild your home after a disaster. You can even ask a real estate agent for local building costs. 

Also, consider whether you need additional coverage options for risks such as earthquakes, floods, or swimming pools. 

Choose between replacement cost and actual cash value coverage

When you buy home insurance in Washington, you’ll have to choose how you’re reimbursed if you make a claim.

• Replacement cost coverage: This pays for materials of similar quality without considering depreciation. For example, if your home is damaged in a fire, this policy would cover the current cost of rebuilding it.
• Actual cash value coverage: This coverage helps pay based on the depreciated value of a damaged item. Using the fire example, you would be reimbursed for the materials' cost minus depreciation, which could be less than actual rebuilding costs.

This is one of the reasons why most experts recommend replacement cost coverage despite its higher premiums.

Research home insurance providers

As you evaluate Washington State homeowners insurance options, it’s useful to look at:

• Coverage features and types
• Policy management options (online, mobile app, agent)
• Additional coverage needs, like auto insurance
• Professional and consumer reviews

These factors will help you narrow your options and choose the best home insurance in Washington State. 

Gather home insurance quotes in Washington

Once you finalize a few insurance providers, use online tools on insurance company websites to get cost estimates. Also, you can communicate with an agent to get additional help. 

Get home insurance quotes in Seattle or any other city you live in from multiple companies and compare similar coverage policies. 

Contact the company and apply

The application process varies by company. Some may require a home inspection to check your home’s condition and ensure adequate coverage. This can include inspections of electrical systems, ventilation, plumbing, heating, and air conditioning. 

Make sure to check the insurer’s requirements to understand their inspection practices. 

Is Washington homeowners insurance required by law?

There isn’t a state law that requires homeowners to own home insurance in Washington State; however, you likely still need it. 

If you're financing your house, your lender will require you to have homeowners insurance to protect their investment. Similarly, if you live in a condo or a private community, they usually require you to have insurance.

Even if you have paid for your home in cash and don’t have a mortgage, homeowners insurance can still be a smart choice.

That’s because most people cannot afford to rebuild or make major repairs if their home is damaged or destroyed. Although you have the money, paying for insurance is much cheaper than handling the costs of repairs or rebuilding on your own.