Best homeowners insurance in Washington of 2021

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Washington has a homeowner rate of 64% as of 2020. The average cost of homeowners insurance is $863 per year or $72 per month for dwelling coverage of $250,000. When you consider that roughly one in 20 homes will file a homeowners insurance claim each year, you can expect a lot of claims. Considering these numbers, it is easy to see why Washington homeowners insurance is so important.

When looking for the best homeowners insurance in Washington, consider looking for a company that provides coverage for local natural disasters like earthquakes, floods and landslides. Due to the Cascadia subduction zone, Washington state has the second-highest risk for earthquakes.

Bankrate’s insurance editorial team analyzed the best homeowners insurance providers across the United States and Washington to help you find the coverage you need.

Best home insurance in companies in Washington

Our top picks for best Washington homeowners insurance companies were selected based on a combination of current premium comparisons, pulled from Quadrant Information Services, and third-party rankings from the 2020 J.D. Power Home Insurance Study. We also looked at each company’s discounts and coverage options to narrow down the best options.

Home insurance company Average annual premium for $250k dwelling J.D. Power score
Allstate $807 829 / 1,000
Farmers $1,452 814 / 1,000
Nationwide $519 808 / 1,000
PEMCO $325 Not rated
State Farm $1,166 829 / 1,000

Allstate

Allstate was chosen for its superior ratings from AM Best, along with its community investment projects and its extensive spread of insurance products. Allstate offers lots of insurance products, making it easy to bundle coverage with your home policy. Some of the optional home insurance in Washington’s extreme winter weather and common causes of loss, such as water backup coverage. In addition, Allstate has local agents throughout the state for homeowners who prefer one-on-one service.

Learn more: Allstate Insurance review

Farmers

Farmers qualifies as one of the best home insurance companies in Washington due to its excellent rating with AM Best, and its extensive options for both coverage and discounts. To save the most on home insurance, consider bundling multiple products including auto, landlord, life, business, motorcycle and recreational insurance through Farmers.

Learn more: Farmers Insurance review

Nationwide

Nationwide insurance has the second-cheapest home insurance rates for Washington homeowners on our list at $519 per year on average. Discounts that help lower premiums include bundling, claims-free, roof age and type, gated community and home purchased in the last 12 months. Nationwide home insurance and assistance is available through independent agents in the state or through the website or mobile app.

Learn more: Nationwide Insurance review

PEMCO

Pemco specializes in home insurance for the Northwest region. The carrier has the lowest cost of home insurance of all the home insurance companies examined on our list, with annual rates of just $325. The regional company is not large enough to be rated in the J.D. Power customer satisfaction survey, but provides all the coverage you need in Washington for an affordable price. And despite being a smaller company, PEMCO offers a host of home insurance discounts, like an educator discount, among others.

State Farm

Between its excellent ratings from J.D. Power and AM Best, its strong agent representation in Washington and its policy add-on options, State Farm is competitive on our list of best home insurance companies in Washington. Home insurance in Washington is not the cheapest through State Farm, but the carrier has plenty of ways to save on coverage. Bundling car and home insurance could be the most effective way to save on both. There are also options to save by having security measures installed and using impact-resistant roofing.

Learn more: State Farm Insurance review

How much is homeowners insurance in Washington?

Despite the risks of earthquakes and adverse weather in Washington state, the average cost of homeowners insurance in Washington is $449 below the national average. This may be tied in with a long-term trend of decreasing frequency of claims filed by homeowners in Washington state, as is shown within this report by the Insurance Research Council.

Washington shares this low cost of homeowners insurance with most of the surrounding states. Idaho’s average annual premium for homeowners insurance is $835, while Oregon’s is $712 annually. California is the exception at $1,014 annually because of a higher frequency of damaging weather and the associated increase in the number of claims filed by homeowners.

Home insurance in Washington

When searching for the best home insurance in Washington, the type of coverage you choose is important to ensure your property is adequately protected. There are several policy types to choose from with various coverage add-ons to consider when building your homeowners insurance package.

Common causes of loss in Washington

All states have unique factors that affect the cost of coverage. For the state of Washington, the following hazards are among the most common causes of loss:

  • Wind and hail: The top category of damages that homeowners file claims on in the U.S. is wind and hail, making up 34.4% of claims. Damages in the state from such storms are often caused by power outages and fallen trees. Home insurance covers damages, such as structural and roof repairs if a heavy tree branch damages your roof.
  • Fire and lightning: Another common cause of loss nationwide is fire and lightning, at 32.7%. There have been over 13,000 fires in the state of Washington in the last 12 years. Even the smallest fire can cause considerable damage when it happens in a densely populated area.
  • Earthquakes: As mentioned, Washington state has the second-highest risk for earthquakes due to the Cascadia subduction zone. The Nisqually Earthquake near Olympia, Washington, in 2001 had a magnitude of 6.8 and caused roughly $2 billion in damages to homes and businesses.

Home insurance coverage options in Washington

Washington residents should strongly consider optional coverages to expand on protections for home and property. Some of the most popular options include:

  • Replacement cost coverage: Upgrading to replacement cost will pay to replace items damaged in a covered loss up to the value of new, similar items. The extra cost may be worth it. Otherwise, you may only receive a depreciated amount that depends on the age and condition of the items.
  • Earthquake insurance: A standard Washington home insurance policy does not standardly include earthquake coverage. It would need to be purchased in addition to home insurance. Not all carriers provide earthquake insurance, but there are companies that specialize in the coverage.
  • Flood insurance: As with earthquake insurance, damages from flooding are not typically covered in a standard policy. If you live in a floodplain or hazard zone in the state, a policy could save you from thousands of dollars in damages. Flood insurance can be purchased through FEMA or select home insurance companies.

Frequently asked questions

How do I get homeowners insurance in Washington?

Each of the best homeowners insurance companies covered on our list have websites where you can request quotes and find additional contact information for each insurer. Some of them may even have local offices within your city or nearby.

What homeowners insurance policy should I get in Washington?

The policy you purchase should be based on your insurance needs and the coverages you wish to add to your policy. It may help to learn what homeowners insurance covers to better understand what your options are before making a decision.

How much does homeowners insurance cost in Washington?

Amongst the companies reviewed, and for the profile we used, the average yearly cost of homeowners insurance in Washington is $863 for a $250,000 dwelling coverage policy. The final price will depend on your insurer, the property type and location and replacement value.

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.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance and business journalist who has been featured in Bankrate, Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and TheSimpleDollar.com. She regularly travels to Africa and the Middle East to consult with women’s NGOs about small business development and works with select startups and women-owned businesses to provide growth and visibility.
Edited by
Insurance Editor