The Best Cheap Washington D.C Homeowners Insurance for 2024

Washington D.C. homeowners insurance rates are well below the national average. Still, it pays to compare rates before committing to a specific insurer. At the same time, it makes sense to figure out which insurance company offers the steepest discounts for having features like security systems and smoke alarms. Here's a closer look at which companies offer the cheapest rates in D.C.

• Cheapest overall for Washington: USAA
• Cheapest for new home construction: USAA
• Cheapest for older homes: USAA
• Cheapest for homeowners who have filed a claim: USAA

Cheapest overall

As you can see, USAA is the big winner across all categories. But if you're not a former or active member of the military or the family member of someone who's served, you'll need to check out other options.

The typical USAA member pays about $802 per year for homeowner's coverage, but these three companies also offer rates far below the national average:

• Allstate, coming in with an average annual rate of $885
• State Farm, staying competitive with an average rate of $1,092
• Nationwide, offering an average annual rate of $1,136

Cheapest for new home construction

Homeowners insurance companies love new construction because all the components of the house are also new and less likely to break down any time soon. For that reason, they offer their lowest rates to new homeowners.

The USAA rate for new home construction averages $425 per year. While that's incredibly low, these three companies aren't far behind:

• Allstate, coming in second with an average rate of $511
• State Farm, bringing great customer service and a low rate of $633
• Nationwide, right on the tails of State Farm, offering an average rate of $658

Cheapest for older homes

If you're looking for character and unusual architectural details, there's nothing quite like an older home. The problem with older homes is that things tend to go wrong. As a home ages, it's more likely to experience issues like flooding, mold, and potential fire risks caused by old wiring. That's why insurers hedge their bets by charging more to insure an older home. In D.C., USAA keeps rates on older homes relatively low, charging an average annual premium of $892.

These three companies charge more but still manage to keep their rates far below the national average:

• Great Northern, representing well with an average rate of $929
• Allstate, close behind with a rate of $944
• State Farm, charging a bit more, with an average rate of $1,053

Cheapest for homeowners who have filed a claim

Trying to get by without insurance is a risky venture. A single claim can drain your bank account and add unneeded stress to your life. That's why homeowners insurance in Washington, D.C., is so important. However, you should be aware that most companies will raise your rate after you've made a claim. This uptick in rate doesn't last forever, but it can impact your budget in the meantime. The average annual premium for a homeowner who files a claim with USAA is $952, up from its typical annual rate of $802.

These companies may all raise their rates as well. However, you'll still find them lower than the average national rate:

• State Farm, keeping it somewhat competitive with an average annual rate of $1,202
• Allstate, close behind State Farm, with a rate of $1,255
• Great Northern, rounding out the list with an average rate of $1,303

Average home insurance cost in Washington D.C. compared to the national average

This table offers an idea of just how cheap homeowners insurance rates are in Washington, D.C., as compared to the rest of the country.

Washington, D.C. homeowners insurance overview

Here are a few things all Washington, D.C., homeowners should know when shopping for a policy.

Location matters

As insurance companies set premiums, they take into account a number of issues. One of the most important factors at play is where the home is located. Here are some of the questions they ask:

• How far is the home from the nearest fire station?
• What's the crime rate in the neighborhood?
• How much are comparable homes in the area worth?
• Is the property located in a floodplain?

Size plays a role

Larger homes with high-end materials are more expensive to insure. While the rates in D.C. are certainly more competitive than average, insurance companies must still factor in how much it will cost to rebuild or replace a home and any personal property that's damaged or destroyed.

What are the most common homeowners insurance claims in Washington, D.C.?

Here's a look at some of the most common homeowners insurance claims in D.C.

Wind damage

Like the rest of the country, wind damage represents one of the most common insurance claims in Washington, D.C. Even a quick storm moving through the area can wreak havoc. High winds frequently lead to roof damage, broken windows, downed trees, and other costly claims.

Flood damage

It's not at all unusual for Washington, D.C., residents to experience river flooding due to heavy rain or significant snowmelt in the Potomac River watershed. The area is also vulnerable to coastal flooding when a hurricane or tropical storm causes water from the Atlantic Ocean or the Chesapeake Bay to rush into the Potomac River.

Winter storm damage

D.C. averages an annual snowfall rate of 15.6 inches. While that's relatively mild compared to northern states like Vermont and New Hampshire, one large snowstorm can damage a home in a myriad of ways, including ice dams on the roof and flooding as the snow melts.

Homeowners insurance options and discounts in Washington, D.C.

Here's a look at homeowners insurance discounts that offer D.C. homeowners the biggest bang for the buck.

Bundling

The steepest discounts are offered to those who bundle their coverage. For example, a homeowner who bundles homeowners insurance with auto saves, on average, 26%.

New roof

Roof repair and replacement are two of the most common claims homeowners make -- and they're expensive. A home with a new roof can trim the annual premium cost by up to 8%.

Smoke alarm

It's a proven fact that smoke alarms save lives. Homeowners who install smoke alarms throughout their homes can save 6%.

Burglar alarm

The goal is to keep both the homeowners and their property safe. Adding a burglar alarm inspires some insurance companies to cut the cost of a homeowners policy by as much as 10%.

The ideal homeowner's policy is one that provides maximum protection at the lowest possible price. Chances are, though, a homeowner will only land that "ideal" policy by shopping around.