Washington Homeowners Insurance

Understanding Washington homeowners insurance and finding the right policy for your home is simple when you do the groundwork. Whether you need a policy for your new home, a rental or are considering upgrading the coverage you currently have in your homeowners insurance, Washington residents can save time and money by considering a few features of each policy offered.  Here’s what you need to know to make an informed decision about purchasing homeowners insurance in Washington.

Washington Homeowners Insurance Coverage

A Washington homeowners insurance policy for your primary residence protects you by providing coverage for your home, your belongings, medical cost for others, and the claims against you. Each item covered under your WA homeowners policy covers a different aspect of your property.

Dwelling Coverage protects your home and attached structures like your deck orgarage, and provides repair or replacement if they are damaged or destroyed.  Most policies cover the cost of replacing your home, up to the policy limit.  Many policies allow you can buy guaranteed replacement cost that covers you even above the policy limit.  This is especially helpful when the costs of replacing or repairing a home have increased due to the economy, but your policy still carries an outdated value for your home.

Unattached structures like a detached garage or a fence are also covered under dwelling coverage in WA but usually only up to 10 percent of the value of the coverage on your home.  If you have a large unattached garage, workshop, or office on your property, you can buy additional coverage for unattached structures if the standard dwelling coverage isn’t enough.

Personal Property Coverage protects you against damage or loss of the contents of your home including your furnishings and personal belongings. A standard WA homeowners insurance policy usually covers personal property up to 70 percent of your dwelling coverage.  Your personal property coverage goes with you when you travel, allowing you 10 percent of your personal property coverage on the things you take along with on your trip.  Some companies will offer to add a “floater”, which gives you additional coverage when you travel.

WA personal property coverage may be available on a named peril basis which means that your policy will specify what conditions trigger the coverage such ashail, smoke, theft or lightning.  Make sure you check the policy to see what is covered, and find out if you can increase coverage for any perils.  For example, if your property is wooded, double-check the coverage for falling objects and windstorms to protect you in the event of damage from falling trees or branches. Anopen peril policy covers all perils that aren’t listed as specifically excluded.

Common Exclusions In A Washington Homeowners Insurance Policy

There are many other specific exclusions, additional coverage options, and details you need to know about. Here are a few of the most common.

WA Homeowners Policy Exclusions may include large boats, cars, and renter’s or roommate’s property.  Be careful to ask about additional coverage for computers, jewelry, collections and other valuables.

Washington Home Insurance Coverage Options

Loss of Use and Living Expenses is a coverage option to ask your Washington homeowners insurance agent about.  Most policies cover your expenses up to 20% of your dwelling coverage if your house is unlivable, but sometimes there are restrictions on this coverage so be sure to read the fine print.

Medical Expenses are usually covered under the “good neighbor” coverage of WA homeowners insurance policies, up to at least $1000 for any non-resident on your property by invitation, and applies whether or not there was negligence involved.  Consider increasing the coverage if you have a home office and people often come to your home.

In addition, most policies have personal liability coverage of up to $100,000 to cover property damage or anyone injured through your negligence, for example, if you knew the railing were loose on the front steps, and it breaks and causes someone to fall.  Determine the amount of additional personal liability coverage by thinking about what you are worth and therefore how much someone might sue you for if you were negligent.

Personal liability coverage can also extend beyond your property limits for the people, such as your family, who live with you. For example, it might cover you if you accidentally damage your neighbor’s property by a water leak or a child’s activities.

You can get additional coverage for damage to plants, for debris removal or forcredit card forgery.  Each company will have a list of specific coverage options you can ask for such as earthquake, home office equipment, a second residence, or flooding.  Umbrella policies can cover you above and beyond the limits of your home and auto insurance.

Types Of Washington Homeowners Insurance

Washington Renter’s Insurance is a homeowners insurance policy that covers your personal property and personal liability when you are renting. It doesn’t cover the property that you don’t own such as the house and garage you are renting.

Washington Condominium Insurance covers what’s inside your unit like thecabinets, appliances, drapes and carpeting.  It does not cover the building which is the responsibility of the condominium association.  Loss assessment insurance covers any fees the association might charge you to recover its losses that occur in common areas. Washington Mobile Homeowner Insurance Policies cover your mobile home and its contents, and protects you in the case of theft or liability.

Washington Farm or Ranch Policies are a lot like homeowners policies but usually don’t cover the replacement cost of your dwelling, just the actual cash value after depreciation.  You can purchase additional replacement cost coverage on a farm or ranch policy if you ask, but livestock, equipment and crops must have their own policies.

Factors That Determine Washington State Homeowners Insurance Rates

Items that will factor into your rate calculation will include the floor plan, construction materials, number and type of rooms, and total square footage, as well as garage type and any special features. Consider the difference between the tax assessed value and the actual market value, as well as the replacement costs, when you choose the limits of your policy.

WA homeowners policies should be reviewed each year.  Don’t forget to reconsider your coverage when you add onto your structure or do major renovation or improvements.

Insurers also take into account the property location, community fire services, theproperty’s prior insurance history and your history of making claims, your employment and your credit.

Keep Your Washington Homeowners Insurance Up-to-Date

Make an inventory of your property, especially your valuables, including jewelry, tools and collections.  Make a video or photo record, engrave your name on possessions like your TV or stereo components, and get your collections appraised.  Keep your inventory with your personal documents in a safe deposit box so they are not at risk.  Update your records each year when you set your clocks forward or back, and change the batteries on your smoke detectors.  Put checking in with your insurer about any new savings available for you on the same schedule.  You’ll be glad you did!

How To Save Money On Washington Homeowners Insurance

Savings you can ask for include discounts for non-smokers, long-time customers,multiple policies with the same company such as your auto insurance, and smokeor burglar alarms, carbon monoxide detectors, and other protection from damage such as sprinkler systems.

Compare Several Policies from different companies. Insurance companies are competing for your business, and that means that the choice of the best policy for you and your home is really up to you!

Washington Homeowners Insurance Policy Average Costs

In 2005, the average cost for homeowners insurance in Washington State was $589, making Washington a great deal with only six states costing less on average. Renter’s insurance was also a good deal in Washington, averaging just $173 with more than half the states’ averages costing more.

Insurance Companies Offering Homeowners Policies In Washington State

• State Farm
• GEICO
• AIG
• USAA
• Liberty Mutual
• Allstate
• Metropolitan
• Nationwide
• National
• Hartford
• Traveler’s
• Safeco

(Note that this is just a partial list of insurance companies offering coverage in Washington state – use our free quote finder at the top of the page to compare and search through many different companies).

Compare Washington Homeowners Insurance Quotes Now!

To get started, just scroll up to the top of this page and use our free insurance quote finding tool. Make side-by-side comparisons of Washington homeowners insurance policies from top insurance companies right now!