Average Costs and Cheapest Homeowners Insurance Companies in Washington

Depending on your individual needs, the most affordable homeowners insurance in Washington will vary. MoneyGeek found that the cheapest policy in Washington is offered by Travelers. On the other hand, Allstate has the most affordable premium for homeowners with high-value homes. Allied is the top option for homeowners with poor credit.

To help you find the right fit, MoneyGeek researched thousands of quotes in Washington, calculated average rates and determined the cheapest homeowners insurance providers in the state.

MoneyGeek used costs and service measures to break down the best homeowners insurance providers in Washington if you want to balance cost and quality.

MoneyGeek averaged thousands of quotes in Washington to determine the most affordable insurer for different dwelling coverage limits. Travelers offers the cheapest policies on average, costing $406 per year for baseline dwelling coverage of $250,000. Travelers is also the most affordable option for homeowners looking for a policy at the $100,000 and $500,000 dwelling coverage limits.

The amount of dwelling coverage you need depends on your home’s replacement cost. You’ll need more coverage for a higher value home. You can toggle the table below and compare costs depending on dwelling coverage levels.

The cost of your home insurance is greatly impacted by your chosen dwelling coverage level. Per year, the average cost of homeowners insurance in Washington is $1,106 for $250,000 in baseline dwelling coverage.

Purchasing a higher coverage level entails higher rates, but you’re more protected against damages. For the lowest dwelling coverage of $100,000, homeowners may pay an average of $646 per year. Comparatively, the highest dwelling coverage of $3 million would cost an annual average rate of $12,479.

To calculate the price of homeowners insurance in Washington, companies will analyze multiple factors, including your house’s age, location, dwelling value, roof quality and credit score, among other factors. Homes in risk-prone regions may have higher coverage costs as they have a higher exposure to perils.

Homeowners can adjust their dwelling coverage limits, deductible and other limits to see how average home insurance rates in Washington change depending on your unique situation.

MoneyGeek calculated thousands of quotes from several providers to find the cheapest provider in Washington for different dwelling coverages.

For homeowners that need $2 million in dwelling coverage, the cheapest policies, on average, are:

• Allstate: $4,256 per year
• Travelers: $4,814 per year

Premiums can increase significantly for expensive homes. Factors like your dwelling coverage and insurance provider can affect your rates. Therefore, it’s ideal to shop around and compare quotes.

MoneyGeek averaged thousands of quotes in Washington to find the cheapest options for newer homes with $250,000 in dwelling coverage. Premiums were based on a 2015 sample home.

On average, homeowners looking for the cheapest home insurance providers with a dwelling coverage of $250,000 are:

• Travelers: $440 per year
• Allied: $518 per year

Generally, insurance providers offer cheaper premiums for newer homes. The average rate of insuring a home built in 2015 is $265 cheaper than a home built in 2000.

Keep in mind, however, that the averages for homes built in 2000 differ from the first section due to a different ZIP code collection process.

Washington homeowners of newer homes can save money on insurance. A home built in 2015 costs $735 annually to insure. Meanwhile, it costs $1,000 to insure a house built in 2000. Due to wear and tear over time, older materials are harder to replace and repair. Consequently, insurance providers charge higher rates to individuals with older homes since they are considered more likely to file a claim.

Having a pool can impact home insurance premiums. Based on MoneyGeek’s research, the cheapest homeowners insurance for individuals with a pool in Washington are:

• Travelers: $641
• Allied: $783

Since pools are considered an additional “structure” in your home, they increase the value of your home. Insurance providers consider pools expensive to repair or replace, as well as a liability hazard. Subsequently, your home insurance premium may be impacted.

For the standard dwelling coverage of $250,000, home insurance for individuals with a pool average $1,000 per year. However, without a pool, the same coverage limit costs an average of $1,106 per year. Keep in mind that your costs will vary depending on factors like your home’s age, location and more.

After examining thousands of quotes, MoneyGeek found the most affordable insurer for homeowners in Washington that have poor credit.

For Washington homeowners with poor credit and $250,000 in dwelling coverage, the cheapest average premiums are:

• Allied: $1,433
• Farmers: $1,498

In most states, including Washington, insurance companies use credit-based insurance scores to determine an individual’s risk. Homeowners with poor credit are considered more likely to file a claim and less likely to make payments on time. Consequently, having poor credit can greatly impact the cost of your home insurance in Washington.

To calculate your home insurance rates, insurance providers look at several factors, such as your credit score. Homeowners with bad credit usually pay more in premiums than those with good credit.

On average, the cost of home insurance for Washington homeowners with good credit is $1,035 annually, while individuals with poor credit pay an average of $1,721 per year. Homeowners with good credit save about $685 per year on home insurance.

Your location plays a significant role in your homeowners insurance premiums. MoneyGeek found that home insurance in Spokane averages $1,044 per year, while home insurance in Tacoma is the most expensive at an average of $1,247 annually. The most affordable homeowners insurance providers in Washington are Travelers and Chubb.

You can learn more about the cost of home insurance in Washington by clicking on your city below.

When you begin your search for homeowners insurance, you will need to present basic personal information to the insurance provider when you request home insurance quotes in Washington. Insurance providers will want to know your home’s worth and any extra features, such as a pool. Based on your answers, the provider will give you a customized quote.

MoneyGeek has compiled thousands of quotes. If you’re looking to get an anonymous home insurance estimate, you can use MoneyGeek’s Washington home insurance calculator.

MoneyGeek analyzed homeowners insurance premiums from three of the top insurance companies in Washington that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Washington. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.