"It is essential that you know what coverage meets your needs and what
various companies offer before purchasing insurance."
—Mike Kreidler, Washington State Insurance Commissioner
Looking for Washington homeowners insurance? You've come to the right place! We are InsureMe—and insurance is our specialty. We were the first online insurance quoting service, and we've been helping Washington consumers find the home insurance they need at a price they can afford since 1993.
The process is simple…just give us a little information about yourself and we'll put you in touch with some of the top home insurers in Washington. Saving on your Washington homeowners insurance has never been easier!
Your home is likely one of the most expensive purchases you will make in your lifetime. Therefore, it is important to take the steps necessary to ensure your investment is protected. Knowledge is your best weapon, so learn what various home insurance companies offer and what coverage meets your needs before you decide what type of policy is best for you.
Washington homeowners insurance offerings for single-family homes vary, but usually include basic, broad, special and comprehensive policies. Costs vary, with basic form being the least expensive and broad form the most. However, widest variations are a result of damages covered, as well as price. Some of the most basic things against which you are protected are "perils" such as fire, theft, vandalism and hail. Other more extensive protections include personal property, medical payments and personal liability coverage.
Policies are also available for renters, condominium owners and mobile home owners. Speak with a licensed Washington home insurer to determine what type of policy and applicable coverages are appropriate in your situation.
Please note: If you finance your home, your mortgage lender may specify a certain amount of Washington home insurance you must purchase. However, you may choose your own insurance company with no obligation to use the company recommended by your lender.
Flood insurance is required in special Washington flood hazard areas. Although flood insurance is not a part of your Washington home insurance policy, it is offered by the federal government under the National Flood Insurance Program (NFIP). Contact them online at www.fema.gov/nfip/whonfip.shtm to find out if flood insurance is required for your property, or ask your Washington home insurance broker.
How Much to Buy?
Your home must usually be insured for at least 80 percent of its replacement cost. However, most experts recommend coverage at full replacement cost. If something happened to your home which required you to completely rebuild it using similar materials at today's labor costs, you would need to hold enough insurance to do so.
It is wise to have your home reappraised every few years and adjust your level of Washington homeowners insurance accordingly. Keep in mind that your home value increases with inflation, so protect yourself against underinsuring.
How Rates Are Determined
The amount you pay for your Washington home insurance is made up of a "base rate" plus or minus varying amounts, depending on the following factors:
The extent of the influence these elements have on your homeowners insurance premium varies, but a licensed Washington home insurance agent can help you determine your own base rate. You can then subtract this rate from your final premium quotations to decide which Washington home insurance company is offering you the best rate for your money.
Creating a Household Inventory
A household inventory is simply a list of all your possessions, their worth and any accompanying details further identifying them. It is important to keep just such a list in a safe place in order to ensure sufficient Washington homeowners coverage and eliminate claims problems in the event of a disaster. A household inventory also provides protection for your family's valued treasures and heirlooms.
To make a household inventory, first make a list of each room in your house. Then walk through each room, listing its contents and writing down any supporting information. Include complete descriptions, estimated values, sales prices, serial numbers, brand names, model numbers—any identifying details. Be specific! Take pictures if you are able and record your inventory on a computer disk, storing all supporting documents together in a safe place outside your home. Then, in the event of a loss, simply send a copy of this information to your Washington home insurance company or agent for loss verification.
Be prepared for disaster before it strikes. Create your home inventory today!
You can help prevent loss, minimize damage and keep your Washington home insurance premium at a minimum in the following ways: