Best & Cheapest Homeowners Insurance in Spokane, WA April, 2024

Allstate offers the cheapest home insurance option for Spokane homeowners, with an average annual quote of $766.

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Updated: 19 March 2024
Written by
Bob Phillips
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In our comprehensive review of home insurance providers in Spokane, Washington, Allstate emerges as the most budget-friendly option, with an average yearly rate of $766. However, it’s important to recognize that the best insurer can vary depending on your individual circumstances and needs.

For instance, if your credit score has been negatively affected, Chubb offers the most economical choice with an average annual premium of $1,352. Conversely, if you have an older home, State Farm stands out with competitive rates of $1,199 annually and comprehensive coverage.

On the flip side, if you own a newly built home, Allstate again provides the most cost-effective solution at $594 per year. And for those with a history of claims, State Farm offers an affordable and accommodating option at $1,367 annually.

Furthermore, if you possess valuable personal belongings that require protection, Travelers once again proves to be the top pick, providing extensive coverage at a reasonable rate of $748 per year.

Our thorough analysis at Insuranceopedia aims to assist you in finding the perfect fit for your home insurance needs. By comparing customer ratings, evaluating personal experiences, and presenting comparison charts, we strive to provide you with all the necessary information to make a well-informed decision.

How much is homeowners insurance in Spokane, WA?

Allstate offers the most affordable homeowners insurance rate in Spokane, priced at $766 per year.

As indicated below, rates in Spokane are below both the national average and the average rate for the state of Washington.

Area Average Monthly Rate
National $1,820
Washington $1,114
Spokane $1,049

It’s essential to recognize that insurance rates aren’t uniform; they can differ significantly based on various factors.

For instance, your individual driving history plays a critical role; having a record of traffic violations or accidents typically leads to higher premiums compared to having a clean record. The type and make of your vehicle also play a part, as high-performance or luxury cars often incur higher insurance costs.

Moreover, your location can affect rates, with densely populated urban areas typically experiencing higher premiums due to increased risks of theft or accidents. Additionally, factors such as age and marital status can also impact your car insurance premiums.

Cheapest Homeowners Insurance in Spokane, WA

Our Methodology

To identify the most cost-effective home insurance rates in Spokane, we conducted an analysis using data from multiple home insurance review platforms. Some of these platforms assessed rates sourced from public filings obtained by Quadrant Information Services. We've computed an average of these rates for this review. However, it's crucial to recognize that the rates provided by each company can change regularly and may vary depending on your unique circumstances. Furthermore, our comprehensive rating considers my subjective opinion, drawing from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.

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Quotes Analyzed

15+

Years Of Industry Experience

24

Brands Reviewed

40+

Research Hours

Cheapest Homeowners Insurance in Spokane, WA

Allstate is notable as the most economical option for homeowners insurance in Spokane, WA, providing an average annual rate of $766.

Company Annual Premium
Allstate $766
Allied $840
Farmers $1,092
State Farm $1,167
USAA $1,286

The cost of your policy depends on several factors, including where you live, your home’s value, and your claims history. Allstate offers a balanced mix of affordability and comprehensive coverage.

Cheapest Homeowners Insurance If You Have an Older Home

For older homes, State Farm offers the most affordable rates, averaging $1,199 per year.

Insurance Company Average Annual Premium
State Farm $1,199
Nationwide $1,234
USAA $1,262
Farmers $1,318
PURE $1,396

Older homes often come with unique risks and maintenance challenges, which can potentially increase insurance expenses. However, State Farm offers competitive rates and comprehensive coverage tailored to meet the specific needs of older homes.

Cheapest Homeowners Insurance for Newly Constructed Homes

For newly constructed homes, Allstate offers the most affordable option, with an average annual rate of $594.

Insurance Company Average Annual Premium
Allstate $594
Allied $604
Farmers $778
State Farm $840
USAA $910

Newly constructed homes often require different coverage compared to older ones, and Allstate excels in providing affordable policies tailored to these specific requirements.

Cheapest Homeowners Insurance If You Have Poor Credit

If you have a poor credit score, Chubb offers the most affordable solution, with an average annual rate of $1,352.

Insurance Company Average Annual Premium
Chubb $1,352
Allstate $1,424
Travelers $1,698
USAA $1,961
State Farm $2,289

Your credit score can significantly influence your insurance rates as insurers utilize it to evaluate risk. Chubb acknowledges the importance of offering fair coverage to everyone, regardless of their financial history.

Cheapest Home Insurance for a History of Claims

For homeowners with a history of claims, State Farm provides an affordable solution, with an average annual rate of $1,367

Insurance Company Average Annual Premium
State Farm $1,367
USAA $1,408
Auto-Owners $1,475
Chubb $1,630
Nationwide $2,316

A history of claims can indicate higher risk for insurers, often leading to increased premiums. However, State Farm believes in offering second chances and provides reasonable rates for individuals with past claims.

Cheapest Home Insurance Rates for Lots of Personal Property

If you own a substantial amount of personal property, Travelers offers the most affordable rates, averaging $748 annually.

Insurance Company Average Annual Premium
Travelers $748
Allstate $826
Farmers $1,183
State Farm $1,242
USAA $1,381

As your personal property increases, so do your coverage needs, which can lead to higher premiums. However, Travelers provides comprehensive coverage at reasonable rates, ensuring that all your belongings are adequately protected.

Best Homeowners Insurance Companies in Spokane, WA

Choosing the right homeowners insurance isn’t just necessary; it’s a strategic decision. With Spokane’s rich history, its homes are as unique as its residents. Therefore, finding an insurance provider that offers comprehensive coverage at competitive rates becomes crucial.

To streamline your decision-making process, we’ve compiled a list of the top homeowners insurance companies in Spokane, WA. These companies have been assessed based on criteria such as annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Take a look at our comparison chart below to find the perfect match for your home insurance needs.

  Company Annual Premium
1. Allstate $766
2. Chubb $690
3. Farmers $1,092
4. State Farm $1,167
5. USAA $1,286
6. Travelers $690
7. Met Life $1,142
8. Country Financial $1,859
9. Allied $840

Average Home Insurance Rates by Zip Codes

The cost of homeowners insurance in Spokane, WA can vary significantly depending on the zip code. Below are tables showing rates for various zip codes in Spokane, including the cheapest and the most expensive zip codes in the area for annual home insurance premiums.

ZIP Code Average Insurance Premium (Annual)
99205 $1,218
99223 $1,118
99207 $1,139
99204 $1,231
99217 $1,206
99224 $1,071

Cheapest Zip Codes

ZIP Code Average Insurance Premium (Annual)
99258 $1,100
99223 $1,118
99224 $1,071

Most Expensive Zip Codes

ZIP Code Average Insurance Premium (Annual)
99204 $1,231
99217 $1,206
99205 $1,218

Average Home Insurance Rates in Spokane, WA by Deductible Amount

The selected deductible amount for a homeowners insurance policy has a significant impact on premium rates in Spokane, WA. Here’s how the average home insurance rates fluctuate for different deductible amounts:

Deductible Amount Average Annual Premium
$500 $2,572
$1,000 $2,430
$1,500 $2,388
$2,000 $2,078

Average Home Insurance Rates in Spokane, WA By Coverage Amount

One crucial factor influencing your premium is the dwelling coverage amount. This figure represents the maximum sum your insurance company will pay to rebuild or repair your home if it’s damaged or destroyed.

Below is a comparison chart illustrating the average annual homeowners insurance premiums for various dwelling coverage amounts.

Dwelling Coverage Amount Average Annual Premium
$200,000 $873
$250,000 $943
$300,000 $1,176
$350,000 $1,307
$400,000 $1,518

Average Home Insurance Rates in Spokane, WA by Company

Here’s a comparison of annual premiums from top insurance providers in Spokane.

Company Annual Premium
Allstate $766
Chubb $690
Farmers $1,092
State Farm $1,167
USAA $1,286
Travelers $690
Met Life $1,142
Country Financial $1,859
Allied $840

How Much is Homeowners Insurance for Other Cities in Washington?

Here’s a comprehensive comparison chart displaying the most affordable annual premiums across different cities in Washington.

City Annual Premium
Vancouver $1,115
Kent $1,219
Seattle $1,082
Tacoma $1,204

Getting Online Homeowners Insurance Quotes in Washington

With informative platforms like Insuranceopedia, finding the perfect coverage for your specific needs is just a few clicks away. By providing quick online quotes from various top-rated insurers, Insuranceopedia allows you to effortlessly compare rates.

Simply enter your details, and let us do the work for you by presenting a range of options customized to your requirements. This empowers you to confidently choose a policy that offers the best value, striking a balance between cost and comprehensive coverage.

FAQs

Who has the cheapest home insurance in Spokane, WA?

Allstate provides the most budget-friendly home insurance option in Spokane, Washington, with an annual premium of $766.

What is the average cost of home insurance in Spokane, WA?

On average, homeowners insurance in Spokane, Washington, typically costs around $1,049 annually.

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