Seattle has been one of the fastest-growing U.S. cities for the last decade, with the number of incoming Seattleites only slowing down last year. The Emerald City’s natural beauty, laidback lifestyle, and ever-growing tech industry captivate Washington’s lifelong locals and vivacious visitors. Whether you’re a Seattle newcomer or native, all Seattle homeowners know that the city isn’t just about craft beer and cold brew. Washington weather can really pack a punch, and the West Coast city is no stranger to natural disasters like earthquakes, windstorms, and landslides.
This, paired with the annual “Seattle freeze,” means a home insurance policy isn’t just nice to have, it’s necessary. While home insurance is not required by law, it helps protect your home and personal belongings in the case of natural disasters, theft, and vandalism, not to mention it covers liability and medical expenses if anyone is hurt on your property. Searching for the right home insurance company in the city can get overwhelming, but finding an affordable Seattle home insurance policy doesn’t need to be difficult.
Insurify helps you compare homeowners insurance providers, policies, and prices, and it only takes a few minutes. Keep reading for our full guide on Seattle home insurance.
Save on Seattle Homeowners Insurance
How to Find Cheap Home Insurance in Seattle
Buying a home in Seattle is no small commitment. The cost of a home, plus the living expenses that come with city life, is bound to leave new homeowners pinching pennies wherever possible. But home insurance helps protect your new investment, so you don’t want to skimp out on your insurance policy.
Certain factors, like your credit score and the neighborhood you live in, can lead to higher rates, but there are plenty of ways to save on your homeowners insurance policy without cutting corners—or coverage options. If you’re looking for multiple insurance policies (e.g., auto insurance, homeowners insurance, or life insurance), ask your insurance agent about bundling your policies to help reduce your premiums. Other factors, like installing a home security system, can also help lower your homeowners insurance cost.
Cheapest Home Insurance in Seattle by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.
As of 2020, the average home insurance premium in Seattle costs $1,345 annually, and the median home value is $767,906.
Still, the cost of your home insurance policy is custom to your home, your neighborhood, and your desired coverage. The best homeowners insurance policy for you may be different from the best home insurance policy for your neighbor. It’s important to know the various policies and coverages that different insurance agencies offer, as the average Allstate premium may include different coverage than the average Safeco or State Farm premium.
|Average Home Cost in Seattle||Average Annual Insurance Premium in Seattle|
Cheapest ZIP Codes in Seattle for Home Insurance
Washington home insurance rates are about the same as the average rates in the rest of the United States, and this affordability extends to the capital city. Still, your homeowners insurance premium will depend on your specific ZIP code and your dwelling’s needs. Your ZIP code tells homeowners insurance companies a lot about which homeowners policy and coverage is best for you. They base it on factors like the number of natural disasters your area faces each year, statistics like crime rates, and the number of home insurance claims filed around you.
Rates in Seattle are on the higher end of Washington state home insurance premiums, but Insurify can help you compare policies to find the best home insurance policy at the best price. Here are the most and least expensive ZIP codes in Seattle form home insurance.
|Most Expensive Real Estate in Seattle||Cheapest Real Estate in Seattle|
|Madison Park||$1,674,684||Industrial District||$594,183|
Home Insurance Coverage Types in Seattle
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
Mobile Home Form
Earthquake Insurance in Seattle
Homeowners insurance policies include coverage for natural disasters, but even a comprehensive policy will not include earthquake damage as a covered loss. To ensure your Seattle home is covered in the event of an earthquake, you need to purchase earthquake insurance.
Earthquake insurance will help cover or offset the cost of repairing damages caused by earthquakes. But just like home insurance, higher coverage comes at a higher cost, and earthquake insurance in a seismic zone like Seattle is extra costly.
Some insurance companies allow policyholders to augment their current home insurance policy with earthquake coverage, rather than purchasing a separate earthquake insurance policy. Ask your insurance agent about your earthquake insurance options, as augmenting your homeowners policy may be cheaper than purchasing an additional earthquake policy. It is also important to note what these policies include, as many do not cover damages caused by tsunamis, even those caused by earthquakes.
Flood Insurance in Seattle
If there’s one thing Washington is known for, it’s rain. Unfortunately for Seattle homeowners, floods and water damage are not covered by basic homeowners insurance policies. So when you’re purchasing a Seattle home insurance policy, you may also want to consider purchasing flood insurance.
Flood insurance will help in the case of flood damage, of course, but some flood insurance policies also cover damages caused by tsunamis, landslides, and rain runoff. According to the Seattle Office of Emergency Management, 8.4 percent of Seattle’s land is designated as “landslide-prone,” including land within residential areas. Since traditional homeowners insurance doesn’t cover damage caused by landslides, flood insurance is a must for Seattle homeowners looking for complete home insurance coverage.
You asked, we answered. Keep reading for Insurify’s answers to Seattleites’ most asked home insurance questions.
Seattle Homeowners Insurance FAQs
Do I need earthquake insurance for my Seattle home?
Legally, no. Earthquake insurance is not required by law, and unlike homeowners insurance, earthquake insurance is not required to mortgage your home. But the Seattle Fault leaves the city at risk for major earthquakes. Since earthquake damage is not a covered loss under basic homeowners insurance policies, Seattle homeowners should ask their insurance agent about adding earthquake insurance to their policy.
Do I need renters insurance for my apartment in Seattle?
While Washington state doesn’t require renters to purchase renters insurance, many landlords will require renters to insure their dwelling. Still, roughly half of Seattle renters do not have renters insurance, according to the U.S. Census Bureau. Although not legally necessary for Seattle residents, renters insurance policies are worth the relatively low cost (with an average $14 monthly premium in Seattle), as they help cover the cost of a renter’s property in case of theft or damage.
Why is my Seattle home insurance policy so expensive?
Homeowners insurance rates vary depending on various factors, including the age, location, and condition of the home, and even personal factors like the policyholder’s credit score. Additional insurance policies separate from home insurance, like earthquake and flood insurance, can make insuring a home in Seattle costly.
The best way to make sure you’re getting the best price for your insurance coverage is to compare insurance providers and policies using Insurify. After you find the best home insurance provider for you, you can ask your insurance agent if you are eligible to bundle your home insurance and car insurance policies for additional savings.
Conclusion: How to Find the Cheapest Home Insurance in Seattle
Searching for an affordable Seattle home insurance policy can be stressful. But Insurify’s comparison tools can help you find the best homeowners insurance policy for you in minutes. With a little bit of research and Insurify’s help, you can rest assured knowing that you’ve found the best coverage for your Seattle home at the best cost.
Use Insurify to compare home insurance premiums for your property in Seattle. We simplify comparison shopping by giving you multiple home insurance quotes using one simple form.
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