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Edited by John Leach
Last Updated February 28, 2022
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Seattle, WA Homeowners Insurance
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.
Cheapest Home Insurance Companies in Seattle
For homeowners in Seattle, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Seattle. The following are the best insurance rates from carriers that offer homeowners insurance in Seattle.
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.
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Cheapest Home Insurance in Seattle by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, 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|
Average Annual Home Insurance Premium in Seattle by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
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.
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:
The simplest and least comprehensive type of homeowners insurance
Provides coverage for a handful of potential problems, including
- natural disasters (storms, fires, wind, lightning, volcanic eruption),
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Washington city level guides, check out these below.
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.
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.
Frequently Asked Questions
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.
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.
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.
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