Best cheap homeowners insurance in Tacoma

J A Uppendahl / EyeEm/Getty Images

47% of residents in Tacoma, Washington own a home. Although home insurance is not required by law, if you have a mortgage, you will likely have to carry a policy. Even if you do not have a home loan, homeowners insurance is a prudent purchase. Homeowners in Tacoma pay an average of $909 per year for a $250,000 dwelling. That is well below the national average cost of home insurance, which is $1,312 annually.

Even so, you may still be looking for cheap home insurance in Tacoma. Bankrate’s insurance editorial team obtained premium data from Quadrant Information Services for the largest insurance carriers by market share. We analyzed the data and reviewed customer service ratings, coverage options, available discounts and financial strength. This information may help you make a more informed decision about your home insurance.

Best cheap home insurance companies in Tacoma

Although price is an important factor, it is not the only aspect of a company that you may want to consider when shopping for home insurance. After analyzing the Tacoma insurance companies and evaluating each company’s average premium, we also reviewed coverage options, discounts and J.D. Power scores.

When shopping for homeowners insurance, Tacoma residents may want to consider the following companies:

Home insurance company Average annual premium for $250k dwelling coverage J.D. Power score
Nationwide $507 808/1,000
USAA* $583 889/1,000
Travelers $587 803/1,000
Allstate $898 829/1,000
State Farm $1,150 829/1,000

*USAA is not eligible for official ranking with J.D. Power due to eligibility restrictions.

Nationwide

Nationwide’s average home insurance premium is much lower than Tacoma’s average. If price is your main concern, Nationwide may be a good fit. However, you may want to note that Nationwide did receive a below-industry-average score from J.D. Power.

You might save even more money with Nationwide by taking advantage of the company’s numerous discounts. You may save for living in a gated community or updating your home’s utilities systems. Additional savings opportunities include recently purchasing your home, buying multiple types of insurance with Nationwide and installing an alarm system.

Learn more: Nationwide insurance review

USAA

USAA only offers coverage to active military members, veterans and their immediate family members. If you qualify, you may want to get a quote. Not only does USAA offer low average rates, but the company has highly-rated customer service. Although USAA is not eligible for official ranking with J.D. Power due to its eligibility restrictions, the company consistently received high scores.

You may be able to lower your premium even more with USAA by taking advantage of the company’s savings opportunities. You might save for bundling your auto and home insurance, installing protective devices like a home alarm system and being claims free. And you may have access to military-focused coverages, like uniform coverage.

Learn more: USAA Insurance review

Travelers

Travelers could be a good choice if you are looking for a company that offers plenty of customization opportunities. You might be interested in the company’s water backup coverage, contents replacement cost coverage, identity fraud coverage or green home coverage.

Travelers does not disappoint when it comes to discounts either. You could save money on your premium with the company’s green home discount, loss-free discount, multi-policy discount or protective device discount. However, just like Nationwide, Travelers received a below-average score from J.D. Power for customer satisfaction.

Learn more: Travelers Insurance review

Allstate

There are eight Allstate agents in Tacoma, which may be appealing to you if you prefer to handle your insurance in person. Allstate offers some home insurance options that add further financial protection for your valuables. Business property insurance insures your work computers, equipment and inventory while you work from home. Sports equipment coverage is designed to cover expensive gear such as golf clubs. And yard and garden coverage insures your trees, landscaping and tools, including riding lawn mowers.

Although its average premium is just slightly lower than Tacoma’s average, Allstate offers several home insurance discounts that might help you save money. You may save for signing up for automatic payments, being a loyal customer, being claims free or buying both your home and auto insurance from Allstate.

Learn more: Allstate Insurance review

State Farm

State Farm’s average home insurance premium may be higher than Tacoma’s average, but the company offers several coverage options that may make up for the higher premium. You may be able to add specialized coverage for your hobby equipment, like cameras or musical instruments, for example. Or you may want to add coverage for garden furnishings.

If you are wanting to lower your premium, State Farm offers a few discounts, including roofing discounts, home security system discounts and multi-policy discounts. Just like Allstate, State Farm sells its insurance through local agents, who might be more aligned with the needs of Tacoma residents than online representatives.

Learn more: State Farm Insurance review

Home insurance coverage options in Tacoma

Although home insurance is not legally required by the state of Washington, it is helpful to protect your investment. And if you have a mortgage, you may need to buy a policy as a requirement of the loan. While there are many standard home insurance coverages, there are some optional coverages that you may want to consider as well, including:

  • Scheduled personal property: This option allows you to specifically insure high-value items such as artwork, antiques and heirloom jewelry that may not be fully covered in a standard home policy.
  • Flood insurance: A standard home insurance policy does not cover damage caused by floods. You will need to purchase a separate flood insurance policy to obtain coverage.
  • Water backup coverage: The Pacific Northwest receives large amounts of rain each year. This coverage is designed to pay for damage caused by water backing up in a sewer or drain line, which may be more common in heavy rains.
  • Identity theft coverage: As the world becomes increasingly digital, identity theft is becoming more common. Adding identity theft coverage to your home insurance policy may help you to pay for the costs associated with restoring your identity if it is stolen.

Every company offers different coverages. One way to find the company that is best for you is to determine what coverages you are looking for and seek out companies that offer those endorsements.

Home insurance discounts in Tacoma

Insurance carriers typically have a list of discounts you can take advantage of. Some of the discounts that could provide the most impact are:

  • Claims-free discount: If you have not filed a claim on your home insurance for the last several years, you could qualify for a discount
  • New home or remodel credits: Newer homes often pose a lower risk for damage, so many companies offer discounts for them. You may also get a discount if you have purchased your home, regardless of its age, within the last year. In addition, some carriers may give you credits or discounts for upgrading your home’s plumbing, electric or HVAC systems.
  • Bundling: Most carriers that sell multiple insurance products offer a discount if you purchase several products from them. For example, if you buy your home and auto insurance from the same company, you might get a discount on both.

You can often review a company’s discounts online, but talking to a representative might better help you identify ways to save.

Frequently asked questions

What is the best home insurance company in Tacoma?

The best home insurance company will vary depending on what you are looking for. Because everyone has different wants and needs when it comes to insurance, different companies will suit different customers. If you are looking for the best home insurance for you, you might want to start by identifying what factors matter most. Then, get quotes from several companies who might fit your needs. This will allow you to compare premiums, coverages and discounts.

How much does home insurance in Tacoma cost?

Homeowners insurance in Tacoma costs an average of $909 per year for $250,000 in dwelling coverage, far less expensive than the national average home insurance premium of $1,312.

Methodology

Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and 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 will differ.