Washington Renters Insurance

Renters Insurance Is Very Affordable in Washington

There are nearly one million renters in the state of Washington. If you are among them, you may want to strongly consider covering your personal property with a suitable renters insurance policy. Whether you lease an apartment in downtown Seattle for an easy commute to work, an off-campus house in the college town of Bellingham, or an oceanside villa in Langley, you can benefit from the protection that a renters insurance policy can afford you. The first step toward securing a great policy is comparing renters insurance quotes, which are surprisingly low in Washington.

Washington Renters Statistics, 2010

  • Approximate number of WA homes (all types) that are renter-occupied: 795,523
  • Percentage of Washington homes (all types) that are renter-occupied: 36.1%
  • Percentage of Washington homes that are apartments: 13%
  • Average cost of renters insurance in WA in 2008: $172 per year

Why Renters Insurance Is a Good Idea

Many renters are under the misconception that renters insurance is expensive or that it is unnecessary. However, this type of insurance coverage is extremely affordable and it has the potential to save you thousands of dollars in the event that your personal property is damaged or stolen.

Consider how you would fare if all of your belongings were destroyed in a major disaster such as a fire. Your landlord is not responsible for covering your personal belongings, so you would face a total loss without the protection afforded by renters insurance.

Although you may not feel that your property is valuable enough to bother insuring, take a moment to inventory and add up the value of everything you own. This includes your clothing, electronics, furniture, cookware and décor. You may be surprised by how much you actually do own. Renters insurance can provide you with a way to replace all those items in the event that you suffer a devastating loss.

Renters Insurance Covers You Against Property Crimes

  • Approximately 60,700 burglaries were reported in Washington last year
  • The state’s burglary rate equates to 8.8 burglaries per every 1,000 homes
  • By comparison, the national rate is 6.70 burglaries per every 1,000 homes

The overall crime rate in Washington is higher than the national average, and this can have an effect on your insurance rates. Renters in cities like Spokane and Yakima, where burglary rates are higher than in most other parts of the state, should expect to receive slightly higher rates when requesting quotes. On the other hand, renters in areas like Bellevue and Kahlotus, where crime rates are low, can expect lower rates. However, because this type of insurance is quite inexpensive to begin with, the difference between the rates quoted for these different areas will not be substantial.

Statistically, homes that are occupied by renters are more likely to be burglarized than owner-occupied homes. You can take precautions by always locking your doors when you are away from home and by keeping your entry ways well-lit and clear of debris. If your home is burglarized, you should take the following steps:

  • First, ensure that you and others in your household are safe. It is possible that the burglars could still be in your home.
  • Contact the police immediately, and then make an itemized list of your stolen property while going through your home with a law enforcement officer.
  • Request a copy of the police report, as you will need it when you file an insurance claim.
  • Contact your insurance agent, or the insurance company directly, and report the burglary.
  • Your renters insurance company will send an adjuster out to meet with you; in some cases, the adjuster will be able to cut you a check on the spot.

Although being the victim of a burglary can be extremely upsetting, it helps to know that you have an insurance company behind you to keep your financial losses at a minimum.

How Much Renters in Washington Are Paying per Month

  • Less than $200: 31,180 renters, or 3.9%
  • $200 to $299: 26,850 renters, or 3.4%
  • $300 to $499: 130,788 renters, or 16.4%
  • $500 to $749: 289,892 renters, or 36.4%
  • $750 to $999: 171,787 renters, or 21.6%
  • $1,000 to $1,499: 87,199 renters, or 11.0%
  • $1,500 or more: 24,252 renters, or 3.0%
  • No cash rent: 33,575 renters, or 4.2%
  • The median cost to rent a home in Washington: $663 per month

Are Quotes for Renters Insurance High in Washington?

When you shop around for renters insurance quotes, you might be surprised by just how affordable this coverage is. In fact, Washington is among the least expensive states in the country in which to purchase a renters insurance policy. In 2008, the average premium for renters insurance in this state was just $172 per year. For less than $15 per month, many renters in this state can enjoy the security that goes along with a solid insurance policy. Some factors that may influence your policy costs include:

  • The ZIP code in which your rental home is located
  • How much contents coverage you are purchasing
  • How much liability coverage you are purchasing
  • Whether or not you are a pet owner and, if so, what types of pets you have
  • Whether or not you have a smoking household
  • How high your deductible is

WA Residents Can Easily Compare Renters Insurance Quotes

Even an overpriced renters insurance policy in Washington is likely to be highly affordable, but there is no reason why you should pay more than you need to for this important coverage. Comparison shopping helps you find a suitable policy at a competitive rate. The independent insurance agents in the Trusted Choice® network can help by obtaining a number of policies and rates for you. These agents can also help you assess how much coverage is enough to adequately cover your belongings.

Contact one of the many Trusted Choice agents in your Washington neighborhood.


Now, who's ready to get their insurance problems solved?