Even when rates are good, cutting costs on homeowners insurance is always worth considering. So, it pays to shop around for the lowest home insurance rates. According to the United States Census Bureau, in 2020, Seattle was home to more than 737,000 people, yet less than half its homes were owner occupied.
Based on Bankrate’s research from Quadrant Information Services, Seattle homeowners pay an average annual homeowners insurance premium of $879 for a policy with $250,000 in dwelling coverage. But the price you will pay for coverage will depend on many factors, including the types and level of coverage you need. Cost is an important factor when shopping for home insurance, but not the only thing to consider. To find the best Seattle homeowners insurance companies, we analyzed providers’ ability to pay claims, customer satisfaction, discounts and premiums.
Best cheap home insurance companies in Seattle
To find the best home insurance companies in Seattle, we looked for providers with sound financial strength, a track record of good customer care, impressive discount programs and great rates.
|Home insurance company||Bankrate Score||Average annual premium for $250K dwelling coverage||J.D. Power score|
*USAA is ineligible for official ranking with J.D. Power due to eligibility restrictions
Among our top five favorite Seattle homeowners insurance companies, Travelers offers the lowest average annual rates. But the carrier also offers great discounts, including up to a potential 12% discount when bundling home insurance with an auto policy and three other types of policies, such as boat, personal property and personal umbrella coverages. You can also save when you purchase a Travelers home insurance policy within 12 months of its effective date.
Learn more: Travelers Insurance review
Nationwide’s standard homeowners policies go the extra mile by including credit card coverage and ordinance or law insurance, coverages many carriers only offer at an additional cost. Credit card coverage pays up to a set limit when someone forges one of your checks, uses your debit or credit card without your permission or when you inadvertently receive counterfeit currency. Ordinance or law insurance helps pay the extra costs of bringing an older home up to current building code following a covered loss.
Nationwide’s standard policies also include its Brand New Belongings feature, which essentially provides replacement cost coverage for your home’s contents. If a covered loss damages personal property in your home, or it is stolen in a burglary, Nationwide will first pay the depreciated value of the items and will reimburse you for any additional repair or replacement costs.
Learn more: Nationwide Insurance review
In J.D. Power’s 2021 Property Claims study, USAA earned the top overall customer satisfaction index rating, 905 out of 1,000. However, USAA did not qualify for ranking in the survey because the provider only offers insurance products to U.S. military members, veterans and their children and spouses.
But for those who qualify, USAA provides great home insurance coverage that is tailored to the needs of military families. Standard USAA homeowners policies include home sharing coverage, which protects your home when you rent a room in your house or the entire dwelling. USAA also includes earthquake insurance and personal property replacement cost coverage in all standard policies, along with military uniform coverage for deployed members and those on active duty.
Learn more: USAA Insurance review
Allstate offers all the standard home insurance coverages Seattle homeowners need, plus an impressive selection of optional coverages such as identity theft protection, coverage to protect valuable items and coverage to protect your garden and lawn.
Allstate also shines with its discount programs. New customers who have not recently filed a homeowners claim can receive up to a 20% discount when they switch to Allstate, plus a potential additional 10% discount each year they renew their Allstate policies. And home insurance policyholders can earn up to a 25% discount when they bundle the coverage with an Allstate auto policy.
Learn more: Allstate Insurance review
MetLife’s standard homeowners policies pay all rebuilding costs, subject to your policy’s terms and conditions and restrictions, if your home is destroyed by fire or a tornado, up to your dwelling coverage limit. Plus, all MetLife home insurance policies provide personal property replacement cost coverage, subject to restrictions and the terms and conditions of your policy.
Through a partnership with Crawford Contractor Connection, MetLife can help you find the repair services you need when your home suffers a covered loss. The program has more than 2,200 participating certified contractors nationwide and all their work is backed by a two-year labor and materials warranty.
Learn more: MetLife Insurance review
Other Seattle home insurance coverages
Washington state law does not require homeowners to buy home insurance. However, if you finance your home, the lender will probably require you to buy and retain home insurance until you pay off the loan. A standard homeowners policy covers your home’s structure, attached structures such as a garage and your personal property, like clothing, electronics and furniture. It will also include loss of use coverage to help pay expenses if you must move out of your home following a covered loss, along with personal liability and medical payments coverages. Seattle homeowners should consider maximizing their protection by purchasing a few optional coverages, including:
- Personal property replacement cost coverage: Most standard home insurance policies pay a depreciated value for items destroyed in a covered loss. But replacement cost coverage pays to replace items at current market prices.
- Flood insurance: Seattle homeowners face the risk of coastal floods, river floods and urban floods caused by severe storms. According to Seattle’s director of Emergency Management, the city faces increased risk of future flooding due to climate change. Standard home insurance policies do not cover flood damage, but many major insurers offer flood insurance through the National Flood Insurance Program, managed by the Federal Emergency Management Agency.
- Earthquake insurance: According to Seattle Emergency Management, earthquakes pose the most serious risk to Seattle. But most standard homeowners policies do not cover structural or personal property losses caused by earthquakes. To protect your home and belongings, purchase earthquake insurance. Some carriers offer the coverage as a rider to your standard home insurance policy.
Home insurance discounts in Seattle
When shopping for home insurance, always look for insurers that offer good discounts. And if you already have a policy, ask your agent if you qualify for any discounts. If you qualify for more than one discount, you could substantially reduce your homeowners insurance rate. Common discounts offered by Seattle home insurance companies include:
- Multi-policy discounts: Multi-policy and bundle discounts can earn you substantial savings. For example, Allstate customers can save up to 25% when they bundle auto and home insurance.
- Protective devices discounts: Many carriers offer potential homeowners insurance discounts for homes equipped with devices such as burglar, fire and smoke alarm systems.
- Green home: If your home is designated with a Green Home certification, you may qualify for additional savings. For example, Travelers offers discounts if a home is certified as a Green Home by the Leadership Energy and Environmental Design (LEED).
- New roof: If you replace your roof and pay for the costs out of pocket, then you may be eligible for added savings with a new roof discount.
Frequently asked questions
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and home insurance carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:
- Coverage A, Dwelling: $250,000
- Coverage B, Other Structures: $25,000
- Coverage C, Personal Property: $125,000
- Coverage D, Loss of Use: $50,000
- Coverage E, Liability: $300,000
- Coverage F, Medical Payments: $1,000
The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).
These are sample rates and should be used for comparative purposes only. Your quotes may be different.
Rates are determined based on 2021 Quadrant Information Services data.
Bankrate Scores primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support.
To determine how well the best home insurance companies satisfy these priorities, third-party agency ratings from J.D. Power, AM Best, S&P, NAIC, and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for homeowners, we analyzed quoted premiums based on 40-year-old male and female homeowners with a home policy with $250,000 in dwelling coverage. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which homeowners may compare each provider.
While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores.