Spokane Homeowners Insurance

Your Complete Guide to Spokane, WA, Homeowners Insurance

(How to find a reliable home insurance policy at an affordable price)

Spokane Washington homeowners insurance

If you live in Spokane or are thinking of buying a home there, finding a reliable independent insurance agent to help you get the home insurance you need is crucial. You'll need someone that understands your needs and can offer you customized solutions. 

Find the help you need with a Spokane independent insurance agent today. 

How Much Does Homeowners Insurance Cost in Spokane, WA?

Washington homeowners pay less on average than homeowners across the country. Even so, it's crucial to shop around for the best possible rates. Comparing insurance companies can help you get the coverage you need to protect your investment. 

  • National average yearly premium: $1,173
  • Washington average yearly premium: $811
  • Washington is the 30th most expensive state for home insurance premiums

Average premiums can help you understand what to expect, but your quote may vary from these numbers, depending on a few key factors: 

  • The size, age, and value of your home
  • The type of home you are insuring (e.g., single-family detached home, condo, manufactured home, vacation home, etc.)
  • The number of stories in your home and whether it has a basement
  • The crime rate and weather risks in your ZIP code
  • Your claims history and credit score
  • Whether you are bundling your coverage with another policy like car insurance or life insurance

Since each insurance company uses its own algorithm to calculate rates, working with an independent insurance agent can help you understand how your specific situation changes affect your premiums. 

Does Spokane Homeowners Insurance Cover against Catastrophic Events?

Spokane homeowners need the right types and amounts of insurance to help them rebuild and repair their homes after a catastrophic event. You'll need enough coverage for your dwelling and contents to overcome the financial difficulties caused by damage from a storm or fire.

Catastrophic events in Washington

  • Number of federally declared disasters in Washington: 132
  • Most common reasons for disasters in WA: Fire
  • Average number of tornadoes per year in Washington: 2.5

In Spokane, homeowners are statistically more likely to experience damage due to fire than from other catastrophic events. Smoke and fire damage typically fall under covered events for a homeowners policy. It's important to note that flood damage isn't typically covered, however. 

If you are concerned about potential flood damage, talk with your agent about getting a supplemental policy through the National Flood Insurance Program (NFIP).

Why Do Spokane Homeowners Need Liability Insurance?

Liability lawsuits tend to be expensive, which is why a good liability insurance policy provides peace-of-mind for homeowners. With the right amount of coverage, you'll get the liability insurance you need to help you protect your financial stability, even after an accident. 

Liability insurance covers incidents or accidents that happen on your property. They also cover damage from certain events that could be your legal responsibility. 

Here are some times when a liability insurance policy could help protect your investment in your home:

  • A visitor trips while going up the stairs and requires medical attention
  • Your child dents the neighbor's car while playing kickball in the street
  • Your dog bites someone walking by
  • You are sued after you post a negative review of a local business online 

You may want additional coverage in the form of an umbrella policy. Your agent can help you understand your options if you want this type of insurance. 

Does Spokane Homeowners Insurance Cover against Burglaries?

The burglary rate in Washington is higher than the national average. In Spokane, it's even higher. 

  • Number of burglaries per 1,000 homes in the US: 4.69
  • Number of burglaries per 1,000 homes in Washington: 6.75
  • Number of burglaries per 1,000 homes in Spokane: 9.76

If you are the victim of a property crime, you'll depend on your insurance to provide compensation for losses and property damage.

Installing a home security system may provide you with additional discounts on your home insurance premiums. A good home security system is a theft deterrent, as well. Talk with your agent about which types of security systems are eligible for discounts through your homeowners insurance provider. 

What about Second Home and Vacation Home Insurance?

Many Spokane families have a second home or vacation home separate from their primary residence. If you own more than one home, even if you rent out your second home, you'll need special types of insurance coverage. 

Houses that are secondary residences often have additional risks. You may need different types or amounts of insurance for a home you don't live in full-time. Your agent can help you understand the specialized insurance products available to Spokane homeowners who have more than one house. 

If your vacation or second home is occupied by tenants, you may have higher liability or property damage risk that calls for a larger insurance policy. Landlord insurance can help you protect your investment. 

Vacation homes that are unoccupied throughout most of the year are at a higher statistical risk of property damage and break-ins. You may need vacant home insurance while the home is empty. 

Your agent will go over your options with you and help you choose the right type of insurance for your second home. 

Why Work with an Independent Insurance Agent in Spokane, WA?

Finding the right homeowners policy is as easy as reaching out to an independent insurance agent in Spokane. These agents work with you to get the best possible rates with the coverage you need. They don't work for a specific insurance company, so you'll get good advice about the insurance you need for your home. 

Contact an insurance agent in Spokane to start comparing quotes from multiple insurance companies right away. 

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http://www.naic.org/prod_serv/AUT-PB-14.pdf

https://www.census.gov

http://www.city-data.com/city/Spokane-Washington.html

https://www.fema.gov/data-visualization-disaster-declarations-states-and-counties