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 2019, Seattle was home to more than 750,000 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 $823 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||Average annual premium for $250,000 dwelling coverage||J.D. Power score|
|Travelers||$500||803 / 1,000|
|Nationwide||$507||808 / 1,000|
|USAA||$593||889 / 1,000|
|Allstate||$773||829 / 1,000|
|MetLife||$803||824 / 1,000|
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.
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.
In J.D. Power’s 2020 U.S. Home Insurance Study, USAA earned the top overall customer satisfaction index rating, 889 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.
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.
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.
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.
- Claims-free discounts: Some insurers may reward you with a discount if you do not file a claim for a specified period.
Frequently asked questions
What is the best home insurance company?
Buying homeowners insurance is subjective. When shopping for home insurance, look for a provider that offers the best combination of coverages, discounts, financial strength and rates.
How much does home insurance in Seattle cost?
Seattle homeowners pay an average annual homeowners insurance premium of $823 for a policy with $250,000 in dwelling coverage. But the price you will pay for home insurance will depend on the age of your home, its construction and location, the levels of coverage you need and your policy’s deductible.
How much home insurance do I need in Seattle?
Washington law does not require you to purchase homeowners insurance, but if you finance your home, the lender most likely will. A comprehensive standard home insurance policy should include dwelling, other structures, liability, loss of use and medical payments coverages. Due to local hazards, Seattle homeowners may also want to consider buying earthquake and flood insurance.
Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and homeriers 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 2020 Quadrant Information Services data.