The Best Cheap Washington Homeowners Insurance for 2023

It would be unusual if the first thing you thought about when buying a home was homeowners insurance. Still, choosing the right coverage is the single most important thing you can do to protect your financial investment. Here, we'll help identify the best homeowners insurance in Washington, show you the cheapest policies in the state, and outline key factors to look for in choosing a Washington home insurance policy.

• Cheapest overall for Washington: Mutual of Enumclaw
• Cheapest for new home construction: Pemco
• Cheapest for older homes: Pemco
• Cheapest for homeowners who have filed a claim: Mutual of Enumclaw

Cheapest overall for Washington

For cheap homeowners insurance in Washington, these four companies are tough to beat:

• Mutual of Enumclaw, with an average annual rate of $581
• Pemco, coming in with an average rate of $599
• Grange, with an average annual rate of $624
• Auto-Owners, also competitive with an average rate of $637

Cheapest for new home construction

Buying a brand new home is exciting enough on its own, but what makes it even better is how little a new homeowner pays in insurance. Insurance companies know that all the components of a new house are unlikely to fall apart anytime soon. That means less chance of broken pipes, floods under the kitchen sink, and other perils older homes face. The expected savings get passed on to the homeowner through lower insurance premiums. Here are the cheapest Washington home insurance providers for newly built homes:

• Pemco, offering an average annual rate of $300
• Mutual of Enumclaw, with an average annual rate of $320
• Nationwide, with an average annual rate of $357
• Auto-Owners, coming in with an average annual rate of $362

Cheapest for older homes

Older homes are often filled with great craftsmanship and character. The problem is this, though: Along with all that character, older homes tend to have more problems. Things like leaky roofs, dry rot, and foundation issues often lead to insurance claims. It's for that reason insurers tend to charge more to insure an older home. In Washington, these four companies offer the lowest rates:

• Pemco, with an average annual rate of $557
• Mutual of Enumclaw, offering an average annual rate of $561
• Grange, with an average annual rate of $584
• Auto-Owners, offering a competitive rate of $588

Cheapest when you've made a claim

When peril hits, it's comforting to have a comprehensive insurance policy in place to protect the homeowner from financial trouble. However, once they've made a claim, a homeowner can expect their insurance company to raise insurance premiums for a time. While the increase does not last forever, it's worth knowing that it can happen. For a Washington homeowner who has made a claim, these four insurance companies offer the lowest rates in the state:

• Mutual of Enumclaw, offering a forgiving rate of $577
• Grange, coming in with an average annual rate of $584
• Auto-Owners, offering an average annual rate of $649
• California Casualty, with an average annual rate of $724

Average home insurance cost in Washington compared to the national average

The average cost of homeowners insurance in Washington is $1,009, around 41% lower than the national average of $1,725.

Washington homeowners insurance overview

The best homeowners insurance in Washington offers comprehensive coverage at an affordable price. As new homeowners begin their search for coverage, they're likely to have new terms thrown their way. Here's a breakdown of what some of those terms mean.

Different types of homeowners coverage

Insurance companies typically offer six types of policies designed to cover traditional (non-mobile) homes. These policies range from very basic coverage to policies with all the bells and whistles. The best homeowners insurance companies offer them all. There are so many options it can be tough to make a decision. What helps is making a list of desired coverages before shopping. For example, if a person's new home includes a wine cellar with a huge inventory of vino, a homeowner can be sure that a bare-bones policy is not right for them.

Level of coverage

While a basic policy may be the cheapest option, it may not fully cover all losses. That's not to say a homeowner should not shop for the lowest price possible -- but only after determining the level of coverage they will need to repair or rebuild their home if it is damaged or destroyed. Once that's determined, a homeowner can shop for the best insurance rates on that level of coverage.

Amount of deductible

Any time a homeowner makes a claim, they pay an insurance deductible toward the cost of repair or replacement. Let's say there's a fire in the garage that will cost $7,500 to repair. If there's a $1,000 deductible on the policy, the homeowner pays the contractor $1,000, and the insurance company covers the remaining $6,500. The lower the homeowner's deductible, the higher their policy premium will be. One way a homeowner can keep the cost of their policy low is to choose a higher deductible.

Potential discounts

One of the best ways to secure cheap homeowners insurance in Washington is to take advantage of all discounts offered by an insurer. A homeowner cannot fairly compare one policy to another without knowing how much each policy costs after all discounts are factored in. It would be rare to find a company that doesn't offer a menu of home insurance discounts. These discounts cover everything from whether the home has deadbolts on the doors to whether the electrical system has been recently upgraded.

What are the most common homeowners insurance claims in Washington?

Identifying the type of claims most common with Washington home insurance can help a homeowner build a policy that offers the financial security they need and find the best home insurance.

Windstorms

As with most of the country, windstorms are one of the most common reasons for claims in Washington. Wind is frequently the cause of fallen trees, blowing debris, and roof damage.

Lightning strikes and fire

And in 2021, 12% of all Washington state wildfires were caused by lightning. According to the Washington Forest Protection Association (WFPA), a total of 674,249 acres were burned in Washington that year. Between lightning and wildfires, it's easy to see why there are so many claims.

Water damage

Washington received more than 43 inches of rain in 2021, leading to roof leaks, flooded basements, wet attic insulation, and destroyed personal property. But it's not just rain that leads to insurance claims. There are also broken pipes and leaky appliances that lead to expensive repairs.

Homeowners insurance coverage options and discounts in Washington

The best homeowners insurance in Washington provides comprehensive coverage at a low price.

Coverage options

Here's a rapid rundown of the eight types of homeowners insurance:

• One type covers renters.
• Another type covers mobile homes only.
• The other six range from basic coverage to more extensive protection.

A comprehensive policy may also include coverage for luxuries such as upgraded building materials or specialty rooms (like a home theater, workshop, or game room). A homeowner can also buy additional coverage for valuable items like rare coins, valuable art, and expensive jewelry. The best insurance company will offer coverage options that suit the policyholder's needs.

Discount options

Finding inexpensive homeowners insurance in Washington depends, in part, on claiming as many discounts as possible. Here are some of the most common discounts found in homeowners insurance policies and how much they can cut premium costs in the Evergreen State:

• Installing a burglar alarm saves an average of 13%.
• Having a fire alarm saves an average of 13%.
• Upgrading the electrical system saves an average of 9%.
• A roof upgrade saves an average of 9%.
• Bundling home and auto coverage can save a whopping 23%.

5 cheapest cities in Washington for homeowners insurance

As an insurer determines premiums, it takes many factors into account, including:

• Area crime rate
• Value of surrounding property
• Cost to rebuild
• How far a home is from a fire station

Here are the five cheapest cities in Washington for homeowners insurance:

5 most expensive cities in Washington for homeowners insurance

Here are the five most expensive cities in Washington for homeowners insurance:

A homeowner can be sure they've landed the best homeowners insurance in Washington when their property is fully covered and the price they're paying is fair.