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Best homeowners insurance in Washington, D.C. of 2023
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At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation of . Our content is backed by Coverage.com LLC, a licensed entity (NPN: 19966249). For more information, please see our
What To Know First
Best home insurance companies in Washington, D.C.
To discover which might be the best homeowners insurance in Washington D.C., Bankrate compared the largest companies by market share in the area. First, we analyzed average annual premium information for 2022 from Quadrant Information Services. We also reviewed third-party ratings for customer satisfaction and financial strength, before finally looking at each carrier’s coverage offerings, discounts and digital assets. We combined these metrics into a Bankrate Score on a 5.0 scale. The closer to a 5.0 score a company has, the more highly that company ranked in our research methodology. Choosing a carrier with a higher score might mean you gain access to high customer satisfaction, good financial strength ratings and robust policy features, such as a mobile app or online portal.
|Home insurance company||Bankrate score||Average annual premium for $250K in dwelling coverage||J.D. Power score|
*Not officially ranked by J.D. Power due to eligibility restrictions
USAA earns the highest J.D. Power score for customer satisfaction, although the company’s limited eligibility renders it technically rank-ineligible. While the average rates for homeowners insurance in Washington D.C. are competitive, USAA does have strict eligibility requirements. You must be an active member of the military, an immediate family member or a veteran in order to qualify for coverage. If you do meet these requirements, you may have access to a multitude of military-friendly policy options, including uniform coverage.
Learn more: USAA Insurance review
State Farm is the largest home insurance company in the nation by market share, so it could be a good choice for Washington, D.C. homeowners insurance if you are looking for a well-established carrier. Additionally, State Farm has several local agencies in D.C., which may appeal to those who like to handle their coverage face-to-face. However, State Farm has the highest average annual premium on our list and advertises fewer discounts than some competitors.
Learn more: State Farm Insurance review
Chubb could be a great option for high-value Washington, D.C. home insurance or for high-net worth clients in general. Chubb has options geared specifically for luxury homes, including the Masterpiece policy. This policy includes several perks, including risk consulting and a cash settlement option. However, Chubb has one of the lowest J.D. Power scores on our list, suggesting that its clients may not always be satisfied with its service.
Learn more: Chubb Insurance review
While the average Allstate home insurance premium for Washington, D.C. is higher than the area’s overall average, rates are below the national average rate for $250,000 in dwelling coverage. In addition, the customer service ratings and policy customization options from the carrier are both strong. Allstate offers a wide range of policy add-ons, including coverage options for your sports equipment, yard and garden equipment, and identity theft protection.
Learn more: Allstate Insurance review
Travelers also earns an exceptional A++ AM Best financial strength rating, indicating sound historical financial strength. Travelers provides multiple coverage options for a homeowners policy, including green home coverage, which will pay the difference to repair or rebuild your home with eco-friendly materials after a covered loss. Travelers has the lowest J.D. Power score on our list, though, so be sure to take that into consideration when shopping.
Learn more: Travelers Insurance review
How much is home insurance in Washington, D.C.
The average annual cost of homeowners insurance in Washington D.C. is $897, significantly less than the national average of $1,383 for the same $250,000 dwelling coverage. Washington D.C. is prone to natural disasters, such as storms and hail, similar to other states in the mid-Atlantic region. However, Washington D.C. boasts a lower average cost versus its neighbors. For instance, Virginia averages $924 annually; Maryland is even more expensive, with an average of $1,136 per year.
Keep in mind that rates vary between Washington, D.C. homeowners insurance companies and based on your own personal rating factors. You may pay more or less than the area average.
Home insurance in Washington, D.C.
Before you finalize a decision regarding your Washington, D.C. homeowners insurance, consider what kinds of damage your home may sustain. Volatile weather, flooding and higher crime rates could influence the coverage types that you need for your policy.
Washington, D.C. common causes of loss
Since 1953, the Federal Emergency Management Agency (FEMA) has declared 23 disasters in the Washington D.C. area. Understanding which disasters occurred can help you tailor your home insurance policy to your circumstances. Common disasters in the area include:
- Severe storms: Like many other areas of the country, D.C. experiences severe summer weather, which can bring heavy rain, high winds and hail. These storms can damage a home’s siding and roof, which may lead to interior water damage.
- Flooding: All of D.C. is at a higher-than-average flood risk, according to FEMA. Flooding can cause extensive damage to a home in a relatively short period of time, and is not covered by standard home insurance policies.
- Hurricanes: Although hurricanes don’t travel as far north as D.C. too terribly often, it does happen. Hurricanes can bring devastating winds and rain, as well as dangerous levels of flooding.
- Snow: Damage happens in the winter, too, with heavy snow potentially causing roof damage to homes. Extreme cold can also cause pipes to freeze and burst, leading to water damage.
In addition to these natural disasters or hazardous conditions, other factors — such as higher crime rates — can impact the amount of loss in the area.
Home insurance coverage options in Washington, D.C.
Now that you know a bit about the common causes of damage in D.C., you may be able to choose additional coverage more thoughtfully. In addition to the standard types of coverage on homeowners insurance policies, D.C. homeowners may want to consider the following optional coverage types:
- Flood insurance: A standard homeowners insurance policy does not cover damage caused by flooding. While a few carriers offer flood coverage as an endorsement, it’s much more common to purchase a separate policy. You can purchase flood insurance from the National Flood Insurance Program (NFIP) or from some private carriers.
- Sewer backup coverage: Commonly offered as an endorsement and sometimes called “water backup” or “sump pump backup” coverage, this option provides coverage for damage to your home if water backs up into your sewer or drain lines.
- Identity theft protection: Our increasingly digital world may come with conveniences, but it also makes identity theft easier. This coverage option provides you with financial protection for the costs to restore your identity.
Coverage options vary by provider, so be sure to talk to your agent about the endorsements you’ll most benefit from.
Frequently asked questions
Bankrate utilizes Quadrant Information Services to analyze 2022 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. 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.
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.