Best homeowners insurance in Washington for 2023

Compare the best homeowners insurance companies in Washington

Based on our assessment of rate data from Quadrant Information Services and several other industry-specific factors, we've identified USAA, Allstate, Chubb, Nationwide and State Farm as some of the best home insurance companies in Washington. The table below showcases each insurer’s Bankrate Score, which reflects how the company performed in various categories like product availability, average premiums, customer satisfaction and more.

*Premiums are for $250K in dwelling coverage
**USAA not officially ranked by J.D. Power due to eligibility restrictions

The top 5 home insurance companies in Washington

Additional Washington home insurance companies to consider

Encompass

Farmers

Travelers

How Bankrate chose the best home insurance companies in Washington

In our search for the best homeowners insurance in Washington, we looked at several of the largest companies in the state by market share. We started by analyzing average rate data from Quadrant Information Services. Then, we reviewed each company's coverage options, discount opportunities, digital tools and third-party scores from AM Best and J.D. Power. We combined these metrics and more into our proprietary scoring model to award each company a Bankrate Score on a scale of 0.0 to 5.0.

Cheapest home insurance companies in Washington

The good news is that there are several cheap home insurance companies in Washington, with average annual rates that are lower than the statewide average of $948 and national average of $1,428. Here are some of the cheapest home insurance companies in WA, keeping in mind that your rate will vary based on several factors.

How Bankrate chose the cheapest home insurance companies in Washington

Bankrate selected these insurers by comparing average premiums from some of the largest insurers in the state by market share to the state’s average premiums overall. Premium data for 2023 was acquired from Quadrant Information Services.

How to get cheap Washington home insurance

Home insurance is generally only required on homes with a mortgage, but insurance professionals typically recommend policies for all homeowners to prevent financial distress when a major loss occurs. Without home insurance, homeowners will likely have to pay for any home repairs out of pocket. In the case of disasters such as fires and floods, these costs can become exorbitant. With a home insurance policy, some or all of these costs may be covered by your insurer.

1. Assess coverage needs and wants: Determine what types and levels of coverage you want for your home. Keep in mind the relevant natural perils for the area, like flooding, earthquakes or wildfires.
2. Shop around: Obtain free quotes from multiple companies that offer home insurance in the area. Be sure to select the same types and amounts of coverage from each. Doing this can help you to find the best rates for the coverage you seek, while also giving you a better idea of what might be a good or bad deal for you.
3. Compare quotes: After receiving quotes, consider each one rather than automatically selecting the cheapest. Before choosing, double check that you selected the same types and amounts of coverage from each insurer. At this point, if price is the only differentiator between the companies (discounts, coverage types or other perks), then it might be wise to choose the one with the lowest rates on your list.
4. Apply for a policy: After selecting your chosen insurer, apply for a policy through their website, app or one of their agents.

Best home insurance discounts in Washington

The Office of the Insurance Commissioner of Washington State recommends looking for common types of home insurance discounts. When insurers offer discounts, these savings can help eligible policyholders save money on rates.

How to save on home insurance policy renewals in Washington

No matter which state you live in, you may be able to save money on your home insurance premium by taking a few basic steps:

• Perform necessary maintenance: Don’t let your home fall into disrepair. Ensuring your roof is in good shape is essential if you want to keep your premiums low.
• Boost your credit: Insurers often consider your credit history when calculating premiums. Those with better credit typically enjoy lower rates. While increasing your credit score can take time, paying down your debts and paying your bills when they’re due can eventually mean lower insurance premiums.
• Avoid claims: The fewer claims you make, the better it will be for your insurance rate. Of course, you should file a claim when you need to, but if you can avoid it for minor issues, you’ll likely enjoy cheaper premiums.

How much is home insurance in Washington?

In 2023, the average cost of home insurance in Washington state is $948 per year for $250,000 in dwelling coverage. This is well below the national average of $1,428 per year — despite the risks of earthquakes, adverse weather and wildfires in the state. Insurance costs vary for several reasons, though. Washington has a lower risk of widespread home damage than some other places, which may contribute to its lower-than-average rates.

Washington homeowners insurance rates by city

Home insurance rates will vary depending on where you live. Residents of some cities may pay more than others. Factors like local weather, crime rates and more are all factored into premiums.

*Rates are for $250,000 in dwelling coverage.

What does home insurance cover in Washington?

One of the most important things to know when buying home insurance in Washington is what your policy covers. There may be certain events that your policy excludes, even if you’d expect the damage to be covered. Given the unique risks faced by Washingtonians, these are some of the most common types of damage that result in claims.

• Wind and hail: As many as 39 percent of home insurance claims in the state result from wind or hail damage, making it key to ensure your roof is in good condition. The good news is that this damage is typically covered by your insurance.
• Lighting and fire: Roughly 25 percent of home insurance claims in the state in 2021 resulted from lightning strikes and house fires. Your insurance will also generally cover this damage.
• Freezing and water damage: Another major source of claims during the winter comes from frozen pipes and water damage. Home insurers in the state may cover this damage but could deny your claim if the damage occurred due to negligence.

Additional home insurance coverage types in Washington

Home insurance policies can cover a range of perils. However, when your home is in a place with unique perils or difficulties, it can be wise to add additional coverage options to protect against these threats. In Washington state, some of the biggest perils that homeowners face are fire, flood and severe storms. In fact, the state ranked sixth in the nation for wildfire risk in 2021.

• Earthquake insurance: A standard Washington home insurance policy does not typically include earthquake coverage. You can often purchase earthquake coverage as a home policy endorsement or a separate policy. Not all carriers provide earthquake insurance, but there are companies that specialize in the coverage.
• Flood insurance: As with earthquake insurance, standard home insurance policies do not typically cover flood damage. Flood insurance can be purchased through the National Flood Insurance Program or some private insurers.
• Guaranteed roof replacement: Not all companies offer this option, and not all homes qualify (typically, your roof must be within a certain age range), but guaranteed roof replacement could be worth adding if you have the option. This coverage will pay for the full cost of roof repairs or replacement after a covered peril rather than a depreciated value.

Common Washington home insurance problems

Though home insurance rates in Washington are relatively low, that doesn’t mean that the insurance situation in the state is perfect. It’s important for homeowners in the region to understand the risks they face.

• Rising threat of wildfire: Washington is in the top 10 when it comes to states at risk of wildfires. With climate change concerns and fires regularly making the news, residents of the state face an increased risk of loss from these events.
• Rising insurance rates: A combination of detrimental weather events and high levels of inflation have driven insurers’ operating costs here. This can mean big increases in insurance costs for policyholders from year to year.

Frequently asked questions