besthome insuranceSeattle2022The Best Cheap Homeowners Insurance in Seattle, Washington for 2022: Quotes and Reviews
In Seattle, Washington, homeowners insurance costs an average of $1,075 per year or about $90 per month. Your final rate will depend on your selected carrier. The cheapest provider in Seattle is Travelers, with rates of $662 per year on average. The most expensive company is Country Financial, at $1,642 annually. This means that by shopping around, you can save about $980 per year. MoneyGeek rated the best homeowners insurance companies in Seattle to help consumers make the right buying decision.
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Advertising & Editorial DisclosureLast Updated: 9/26/2022
Written By |
Mark Fitzpatrick
besthome insuranceSeattle2022The Cheapest and Best Homeowners Insurance in Seattle
Cheapest homeowners insurance in Seattle - Travelers
Best homeowners insurance in Seattle - Travelers
The Cheapest Home Insurance Companies in Seattle
As most carriers offer similar main coverages, cost becomes even more important for consumers. For a plan with $250,000 in dwelling coverage, the cheapest home insurance companies in Seattle are:
- Travelers: $662 per year
- Allied: $797 per year
The cheapest home insurance firms depend on the amount of coverage you purchase. For costly homes with dwelling coverage limits of $2,000,000, the two least expensive home insurance providers in Seattle are:
- Travelers: $4,604 per year
- Allstate: $4,633 per year
Your dwelling coverage limits have a huge impact on your premium, and certain carriers may be cheaper for your requirements. See how the price changes when you adjust the dwelling coverage in the table below.
The Cheapest Home Insurance in Seattle, Ranked
Dwelling Coverage:
$250,000
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Our sample home insurance policies have an initial baseline dwelling coverage of $250,000 and personal property limits of $100,000. Personal property limits increase to $800,000 for plans with a dwelling coverage of $2,000,000. Regardless of the dwelling coverage limits, liability coverage remains $100,000.
If you live elsewhere in the state, you can also compare home insurance rates in Washington as a whole.
The Average Cost of Homeowners Insurance in Seattle for 2021
Seattle$1,075
Washington$1,106
U.S.$2,103
The average home insurance cost in Seattle is $1,075 per year or about $90 per month. This rate is $1,028 lower than the national average of $2,103 and $31 less than the state average of $1,106 per year.
Calculate the Cost of Home Insurance in Seattle
Home insurance rates in Seattle depend on several factors, including your ZIP code, credit score, the amount of dwelling and personal property coverage you choose and more. To compare home insurance quotes in Washington, you can try MoneyGeek’s home insurance calculator.
Home Insurance Calculator
State
Washington
Dwelling Coverage
$250,000
Deductible
$500
Liability
$300,000
Personal Property
$50,000
Credit Score
Excellent
low end
on average
high end
These are annual estimates. Get a personalized quote to determine your costs.
The Best Home Insurance Companies in Seattle
Apart from price, you should also assess carriers’ financial stability and customer service quality before you make your selection. As you’ll likely make claims during a stressful period, the provider should give you the confidence that they can swiftly and fairly reimburse your legitimate claim.
MoneyGeek’s study shows that the best homeowners insurance firms in Seattle are:
- Best Overall: Travelers
- Runner-up: Allied
MoneyGeek ranks home insurance companies based on three parameters: affordability, user satisfaction and financial stability.
1
Travelers
Score:93
Apart from standard coverage, Travelers provides several unique add-ons. For environmentally conscious consumers, this carrier offers extra protection to cover home repair costs using green materials. Another useful additional coverage is protection from damage caused by sump pump discharge and water backup.
More About Travelers
Travelers is our top choice for Seattle as it has perfect scores for affordability and AM Best’s financial stability ratings. This company offers additional replacement cost coverage, which means it’ll cover you even if the sum needed to replace your home is more than your dwelling coverage.
Read MoneyGeek's Travelers home Insurance Review2
Allied
Score:91
Allied has merged with Nationwide, and the latter company offers several worthwhile add-ons such as flood insurance coverage. To deal with water-related perils, you can buy water backup coverage. Nationwide’s Better Roof Replacement coverage replaces your roof with stronger materials if it gets damaged.
More About Allied
Allied is our runner-up in Seattle with a score of 91.40 out of 100. This score is boosted by high marks for the criteria of affordability and financial stability.
3
USAA
Score:87
4
MetLife
Score:87
5
Allstate
Score:87
6
Chubb
Score:86
7
Farmers
Score:84
8
State Farm
Score:82
9
Country Financial
Score:75
Cheapest Home Insurance Companies in Seattle for Newly Constructed Homes
Home insurance cost is usually cheaper for newly built houses as the modern materials used are sturdy and can resist damage better. Insurers also find it easier to replace newer materials. In Seattle, the home insurance rate for a newly constructed home is an average of $791 per year compared to $1,075 for a house built in 2000.
For homeowners with $250,000 in dwelling coverage for a newly built home, the two cheapest home insurance providers in Seattle are:
- Travelers: $455 per year
- Allied: $527 per year
The Cheapest Home Insurance in Seattle for New Homes, Ranked
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Cheapest Home Insurance Companies in Seattle if You Have a Lot of Personal Property
Home insurance policies also offer protection for personal property. If your personal property coverage amount is high, it will hike your premium too. In Seattle, a standard home insurance policy with personal property limits of $250,000 costs $1,213 per year on average compared to $1,075 for a personal property coverage limit of $100,000.
For Seattle homes with both dwelling coverage and personal property coverage limits of $250,000, the two most affordable insurers are:
- Travelers: $740 per year
- Allied: $866 per year
Cheap Companies in Seattle for Extra Personal Property Coverage
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Cheapest Home Insurance Companies in Seattle for High Deductibles
You need to pay a deductible out of pocket before your insurance company reimburses your claim. A high deductible means a lower premium. For example, a policy with a $2,000 deductible costs $928 per year on average, while the average annual rate for a policy with a $1,000 deductible is $1,075.
The two carriers with the cheapest home insurance in Seattle for homeowners with a $2,000 deductible are:
- Travelers: $590 per year
- Allied: $647 per year
The Cheapest Companies in Seattle for High Deductibles, Ranked
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Cheapest Home Insurance Companies in Seattle if You Have Poor Credit
Your credit score is also a factor considered by home insurers while computing your costs. Providers have found that people with poor credit scores are more likely to file claims. Therefore, they pay higher premiums.
The policy cost for an individual with a low credit score is $1,779 per year on average. In comparison, those with a good credit rating need to pay only $1,075 annually on average.
For people with a bad credit score in Seattle, the insurance companies offering the cheapest premiums are:
- Farmers: $1,357 per year
- Allied: $1,358 per year
The Cheapest Companies in Seattle for Poor Credit, Ranked
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Getting Online Homeowners Insurance Quotes in Seattle
To get a quote for homeowners insurance online, you should provide the following information:
- Personal information – Online portals will request your address, insurance history, the number of people included in your household and other details.
- Details about your home – Provide information on the age and size of your home, whether any security devices have been installed and more.
- Home replacement cost – This is the cost of rebuilding your residence using similar materials if a covered peril damages it. The replacement cost of your home determines your dwelling coverage limits. It’s smart to consult a real estate professional to get an accurate estimate.
- Personal property value – The value of your possessions determines the personal property coverage limits.
Homeowners Insurance in Seattle Analysis: Methodology
We used the base profile of the average homeowner with a 2,500-square-foot home built in 2000, with dwelling coverage of $250,000, personal property coverage of $100,000 and liability coverage of $100,000. All plans have a deductible of $1,000.
MoneyGeek evaluated home insurance rates from nine companies in Seattle using the information provided in partnership with Quadrant. We calculated affordability using quotes for a home with varying coverage levels, while customer satisfaction ratings were obtained from J.D. Power. We gathered quotes from homeowners with newly constructed homes, higher deductibles, increased dwelling or personal property coverage and poor credit scores to present accurate details for various situations.
About the Author
sources
- Insurance Information Institute. "Background On: Credit Scoring." Accessed April 26, 2021.