Cheapest Homeowners Insurance in Washington (2024 Rates)

In Washington, you have a variety of affordable home insurance options to choose from. For instance, while Chubb offers the best overall rates, especially for those with poor credit scores, Allstate provides competitive rates for high-value homes and bundles. If you need coverage for a new home, Foremost is your top choice.

In Washington, the most affordable home insurance for $100K in dwelling coverage is offered by Chubb at just $529 per year. However, depending on your dwelling coverage, the same coverage could cost you more or less.

Here's a quick look at the lowest-priced options in Washington:

• Cheapest for $100,000: Chubb at $529 per year
• Cheapest for $250,000: Allstate at $741 per year
• Cheapest for $500,000: Allstate at $919 per year

See how costs vary by dwelling coverage using MoneyGeek's cheap home insurance table.

Finding low-cost home insurance in Washington involves soliciting rates from multiple insurance companies. MoneyGeek’s home insurance calculator provides Washington quotes easily, without requiring personal information upfront.

With an annual premium of $1,245, Allstate provides the cheapest rate for $750K in dwelling coverage. High-value homes typically need higher coverage limits, which can increase the cost of your insurance.

Here's a snapshot of the most affordable options for high dwelling coverage limits in Washington:

• Cheapest for $750,000: Allstate at $1,245 per year
• Cheapest for $1MM: Allstate at $1,575 per year

Make sure to base your home insurance coverage on the cost to rebuild your home, rather than its property value. Use MoneyGeek's detailed comparison table to see the different companies and offers for each dwelling coverage and construction year.

For new homes in Washington, the most affordable home insurance company is Foremost Insurance, charging $323 annually for $100K in dwelling coverage. It’s important to note that newer homes usually have lower insurance costs in Washington. This is likely due to modern construction methods and materials, along with up-to-date safety features which reduce the likelihood of extensive damage and subsequent claims.

Compare premiums from the most budget-friendly insurance providers in Washington:

• Cheapest for $100,000: Foremost Insurance at $323 per year
• Cheapest for $250,000: Nationwide at $471 per year
• Cheapest for $500,000: Nationwide at $666 per year

To explore how insurance costs change with varying dwelling coverage for newly constructed homes, look at our comprehensive table below.

In Washington, Chubb tops the list as the cheapest home insurance for those with poor credit for $100K in dwelling coverage at $529 annually. Credit plays a significant role in home insurance rates as insurers correlate it with the risk of defaulting on payments.

• Cheapest for $100,000 Dwelling: Chubb at $529 per year
• Cheapest for $250,000 Dwelling: Allstate at $741 per year
• Cheapest for $500,000 Dwelling: Allstate at $919 per year

A poor credit score means paying more for home insurance. For instance, those with a poor credit score in Washington pay an average of $916 annually for $100K in dwelling coverage, which is $154 more than the cost for those with good credit.

For Washington residents with one claim in the past five years, Foremost Insurance is the cheapest home insurance provider for $100K in dwelling coverage, costing $635 annually. A history of claims suggests a higher risk to the insurer, thus often leading to higher premiums to balance out this risk.

Take a look at the cheapest providers in Washington if you have at least 1 claim in the past five years:

• Cheapest for $100,000: Foremost Insurance at $635 per year
• Cheapest for $250,000: Allstate at $970 per year
• Cheapest for $500,000: Allstate at $1,203 per year

Being claims-free may lead to more affordable premiums. For instance, those with no claims in the past five years pay $337 less annually compared to those with at least two claims. This underscores the benefit of maintaining a claim-free record for lowering your home insurance premiums.

The type of construction and roof materials of your home significantly impact your home insurance costs. In Washington, the most cost-effective option for a frame house with a shake-treated roof is offered by Chubb, costing $529 annually. This is largely due to the fact that these particular materials are more susceptible to damage, increasing the risk and therefore the cost of coverage.

Compare the cheapest options for each dwelling coverage for frame construction and shake-treated roof:

• Cheapest for $100,000: Chubb at $529 per year
• Cheapest for $250,000: Allstate at $774 per year
• Cheapest for $500,000: Allstate at $960 per year

It's also worth noting that homes with superior construction and tile roofs, despite being of a higher quality, typically have lower insurance premiums. Specifically, these homeowners can expect to save an average of $95 each year. This significant difference highlights the importance of construction type and roof material when determining insurance costs.

Adjusting your deductible could potentially save hundreds of dollars annually. For instance, in Washington, the most affordable home insurance for a $2,000 deductible is from Chubb, costing $454 yearly. This contrasts with a $500 deductibl, also from Chubb, costing $582 annually.

The lowest prices for each deductible level are:

• $2000 deductible: Chubb at $454 per year
• $1500 deductible: Chubb at $529 per year
• $1000 deductible: Chubb at $529 per year
• $500 deductible: Chubb at $582 per year

In home insurance, a deductible is the amount you pay before the insurance covers the rest. The average cost difference between $500 and $2,000 deductibles across all insurers is -$162.

AI process A great option to save money is to bundle home and auto insurance. In Washington, Allstate offers the cheapest bundle for $1,828 per year.

Here are more affordable options for bundles in the state:

• Allstate at $1,828 per year
• State Farm at $1,852 per year
• Auto-Owners Insurance Co at $1,898 per year

Bundling home and auto insurance not only saves you some money but also gives you more convenience, as you only have to talk to one insurance provider.

Chubb offers the cheapest home insurance in most Washington cities, with rates from $389 to $559. The substantial cost difference across cities can be attributed to aspects like local building regulations, crime levels and weather-related risks.

• For instance, Spokane boasts the lowest annual premium for Chubb, its cheapest provider, at $389.
• In contrast, Bellevue has the most expensive annual premium from Foremost Insurance, its lowest-priced company, at $559.

It's crucial to shop around as insurers' rate calculations vary in different geographical areas, opening room for potential savings.