Homeowners Insurance Quotes in Seattle, WA

What You Should Know About Home Insurance in Seattle

Part of the Denny party landed at Alki Point (in what today is known as West Seattle) in 1851. These members — including others who had migrated from the Midwest on the Oregon Trail to Portland — made their way to the Duwamish River and then founded Seattle in 1853. They named the city in honor of one of the leaders of the Salish tribes, Chief Seattle — an anglicized version of his Lushootseed name and a person commonly referred to as Chief Sealth.

A good Seattle day includes photographing majestic Mt. Rainier, picking up a latte from almost any city corner, watching fish throwers at Pike Place Market, and then admiring incredible views from the top of the Space Needle. You might also walk the footpath around Green Lake or kayak on Lake Union.

With so much to offer, Seattle has become a popular place to live. Be sure you have the best homeowners insurance to protect your home from all those pesky uncertainties that can occur. Your InsureOne agent is ready to help you find the high-quality coverage that fits your individual needs.

How Much Does a Homeowners Insurance Policy Typically Cost in Seattle?

Insurance costs vary from neighborhood to neighborhood — a Maple Leaf resident may pay different rates than a University District resident. Home values and crime rates are two factors that influence these variations.

Seattle insurance coverage is lower than the national average, as shown here:

Dwelling Insurance Total	Average Annual Cost in Seattle	Average Annual Cost Nationwide
$300K	$1,543	$2,582
$600K	$2,702	$4,140
$1 million	$4,186	$7,380

We arrived at these numbers by using the cost of dwelling coverage, a $100,000 liability and a standard $1,000 deductible.

How Do Home Insurance Deductibles Change Insurance Rates in Seattle?

Your deductible is the amount you pay out on a claim before your insurer pays its portion. In a market with rising insurance costs, more people may choose a higher deductible to offset their premiums. However, if you lack access to ready money to pay that deductible, should you need to file a claim, this can create a hardship you could have avoided by choosing a lower deductible.

If you choose a lower deductible and then need to file multiple claims in a short period, you will need to pay that deductible with each claim — plus those multiple claims put you at risk of increased insurance rates.

These options may cause some confusion. However, your expert InsureOne agent is ready to review each scenario with you to find a plan that provides you with peace of mind and cost savings.

Is Home Insurance Tax Deductible in Seattle?

Just like in the rest of Washington state, home insurance may only be tax deductible in Seattle under certain circumstances, such as the following:

• If you rent out a home as a business.
• If you use part of your home for your business, you may be able to claim a portion of your insurance equal to the percentage of square footage you use (10% of your square footage would equal 10% of your premium).

Please discuss the specifics of your situation with your tax advisor to see if you are eligible for a deduction.

Does Seattle Have the 80% Homeowners Insurance Rule?

Yes, most Seattle insurers follow the 80% rule. This rule is not a law set by Seattle or Washington state, but an industry standard.

You do not need to figure this all out yourself — your insurer will evaluate your home’s square footage and construction materials as well as the current cost of labor and materials to determine its replacement cost. The coverage you buy will then be for at least 80% of that cost. As an example, your $900,000 Broadview home would need at least $720,000 worth of coverage.

Once you have purchased a policy, be sure to keep your InsureOne agent updated about any home improvements to ensure you have the right amount of customized coverage.

Bundling Home and Auto Insurance in Seattle

You might have heard of the insurance term bundling. This term means buying more than one policy from the same insurer — and the most commonly bundled policies are home and auto insurance. Why? Liability auto insurance is required for car owners in Washington state, and homeowners insurance is usually required by your mortgage provider.

When you bundle your home and auto policies, you can buy them both in one visit, saving you the time you would otherwise spend shopping around for another agent. It also helps streamline your insurance process by giving you just one bill and one set of paperwork to manage. Plus, most insurers will provide you with a multi-policy discount of up to 25% off your bill.

Think of InsureOne as a one-stop shop where expert agents provide top-tier service to find you customized plans that fit all your specific insurance requirements.

How Does Home Composition Impact Insurance Rates?

The frequent rain and high humidity stimulate moss growth and wood rot in many Seattle homes. Mossy roofs can experience shingle deterioration, leading to leaks. Brick and stone are also at risk of moss, yet these materials resist breaking down under its presence. While these stronger materials better withstand Seattle’s moist environment, they can be costly to replace. Wood has also become more costly in recent years.

Your underwriter will take all these factors into consideration, along with labor costs, and then help you find competitive rates.

What Are the Different Types of Homeowners Coverage Offered in Seattle?

There are eight types of homeowners insurance in Seattle to help you personalize your coverage for your unique living situation.

Here are four of those eight coverage types:

• HO-1: This basic policy usually limits coverage to the house structure for 10 perils at actual cash value, which factors in depreciation. It excludes certain coverage found in most other single-family home policies, such as for your belongings.
• HO-4: This renters policy excludes structure coverage. It covers just your belongings from 16 perils. As a Seattle renter, this may be the policy for you.
• HO-5: This is the best coverage for single-family detached homes, providing coverage for your structure and your belongings at replacement costs.
• HO-6: This condo and co-op policy covers everything from the walls in, meaning personal belongings, renovations you may have made after purchasing your home, and the walls, floors, and ceilings.

Your InsureOne agent can give you all the details about these and the other four plans to help you find the one that works for you in your current situation — or in a new living situation if you are making a move.

What Is the Most Common Type of Home Purchased in Seattle?

Seattle is one of the most expensive places to live in the United States. The Seattle housing market includes about 353,000 apartments and houses with a median cost of just over $1,100,000. Approximately 50% of the homes are high-rise buildings or large apartment complexes, while about 38% are single-family detached homes. Additionally, about 31% of the housing was built since 2000. The city also features a significant number of older homes and a diverse mix of renters and homeowners.

While renters insurance is not a state requirement, some landlords require their tenants to purchase it. If you are one of the Seattle residents who rents your home, you may want to read up on renters insurance requirements. You can also have your InsureOne agent go over all the specifics to help you decide on the homeowners insurance coverage that is right for you and your budget.

Which Common Natural Disasters Are Covered by Home Insurance in Seattle?

The Evergreen State has its fair share of strong winds and extreme rain events, so knowing what your policy covers is essential.

Here is some information about a few natural disasters:

• Volcanic eruption: You may remember the Mt. St. Helens eruption and the cloud of ash it brought to the Seattle area, which has you wondering if your policy covers such eruptions. The answer is that, yes, volcanic eruptions are typically included in a standard policy.
• Earthquakes: While Seattle earthquakes are uncommon, they do happen, such as the 6.8 that occurred in 2001. A standard policy usually excludes earthquake damage. Ask your agent about adding an earthquake rider to your policy.
• Floods: If you live along Elliot Bay and wonder about tsunamis, you might also be wondering, “Do I need flood insurance?” Home policies typically exclude flooding from natural disasters. Your agent can assist you in adding this type of flood coverage.

Let your InsureOne agent know of any concerns you have about other potential natural disasters or severe weather situations. Your agent will provide white-glove service to find you the coverage you need to feel safe and protected.