Washington Condo Insurance

Find the Best Condo Insurance Rates & Companies in Washington

Due to recent reforms in Washington's restrictive condominium construction laws, the state is expected to see a surge in new condo development over the next few years. If you're among the many condo owners in Washington, you can protect your investment with the proper condo insurance. Having condo insurance can help you avoid expensive losses caused by many different disasters, including fire damage, break-ins, and lawsuits.

Luckily, a Washington independent insurance agent can help you find the right condo insurance today. They'll get you matched to the ideal policy with ease. First, though, here's a closer look at Washington condominium insurance requirements, coverage options, average rates, and more.

Best Condo Insurance Companies in Washington

You can find a condo insurance policy from many different insurers in Washington. But when you're looking for the best condo insurance near you, you want to know exactly where to start. Here are just a few of our top picks for the best condo insurance companies in Washington.

1. Stillwater: This carrier sells condo insurance and many other types of personal and business insurance. Stillwater has outstanding ratings from AM Best and the Better Business Bureau (BBB), sells coverage in every state, and provides 24/7 claims reporting.
2. Nationwide: This carrier sells condo insurance and many other types of personal and business insurance. Nationwide has excellent ratings from AM Best and the BBB, provides quality customer service, and offers 24/7 claims reporting.
3. Foremost: This carrier sells condo insurance and many other types of personal insurance. Foremost has great ratings from AM Best and the BBB, offers a ton of discounts, and provides 24/7 claims reporting.

An independent insurance agent in Washington can provide you with quotes from each of these carriers and others that offer coverage in your area.

What's the Difference Between HO3 and HO6 Insurance?

Condo insurance is a special type of homeowners insurance that's also referred to as HO6 insurance. These policies include coverage for your personal property or contents, liability, and additional living expenses, but not for your home's structure or dwelling. 

On the other hand, HO3 home insurance policies include dwelling or structural coverage. Condo insurance doesn't need to include dwelling protection because it's typically provided by the homeowners association's master policy for each condominium on the property.

Is Condo Insurance Required in Washington?

Though you're not required by law to have condo insurance in Washington, coverage is often still required. If you have a mortgage, your lender likely requires condo insurance. 

Further, many condo associations require all tenants to have policies. Having condo insurance is almost always a wise investment because of the compensation it can provide after many different catastrophes like lawsuits and vandalism. Without a policy, you could be stuck paying these huge costs out of your own savings.

What Does Condo Insurance Cover in Washington?

In Washington, condo insurance offers three major types of protection. These include the following:

• Liability coverage: Covers lawsuit costs, like attorney and court expenses, if a third party sues you over a claim of bodily injury or personal property damage.
• Loss of use coverage: Covers temporary living expenses like takeout meals, hotel rooms, laundry services, etc., if your unit is uninhabitable after a covered loss like a fire.
• Contents coverage: Covers incidents of theft, destruction, or damage to your personal belongings, including furniture, clothing, silverware, electronics, etc.

Washington condo insurance usually covers the following disasters:

• Explosions
• Wind, lightning, and hail
• Burst pipes
• Fire and smoke
• Theft and vandalism

Be sure to review your specific condo insurance policy to determine which perils are covered, as they may vary from the list above.

What's Not Covered by Washington Condo Insurance?

Just like any other type of coverage, condo insurance comes with certain exclusions to be aware of. In Washington, condo insurance typically won't cover the following:

• Malicious or intentional acts against third parties
• Insect damage and infestation
• Routine maintenance
• Flood damage
• Sewer backup damage

Washington is a coastal state, so you may want to get a separate flood insurance policy in case of natural flood damage or destruction. You might also want to ask your agent about a sewer backup endorsement to protect your belongings against damage and destruction caused by these messy disasters.

How Much Does Condo Insurance Cost in Washington?

The average cost of condo insurance in Washington is $425 per year, which is a little cheaper than the current national average rate of $455. However, you can typically count on your specific policy's costs to vary because rates tend to be based on the following factors:

• Your claims history
• The type and amount of coverage you need
• The exact location of your condo
• Your deductible amount
• Any discounts you qualify for

Many Washington condo insurance discounts are offered by most carriers, so be sure to ask about any you might be eligible to receive.

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