Average homeowners insurance cost in Spokane, Washington

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The average cost of homeowners insurance in Spokane is $1,544 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $1,038 less than the national average of $2,582 .

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Spokane depend on a number of factors, including:

The size of your home
The age of your home
The amount of coverage you need
Where you live
Your credit score

To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide for more info on how much homeowners insurance costs per month in Spokane, home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Spokane.

Key Takeaways

The cost of your homeowners insurance policy in Spokane can vary based on factors such as your location, the value of your home, and the coverage options you select.
Nationwide is the cheapest homeowners insurance company in Spokane with an average annual premium of $1,007 .
If you increase your dwelling coverage from $200,000 to $300,000, you will pay $335 more annually for home insurance.

Average homeowners insurance cost in Spokane per month

Residents of Spokane pay an average of $129 a month for homeowners insurance. It’s $4 less than the state average of $133 and $86 less than the national average for home insurance across the nation.

The cost of your homeowners insurance policy in Spokane may change based on location, property value, and selected coverage options.

Average homeowners insurance cost for a $200,000 house

In Spokane, homeowners pay an average of $1,209 annually for a $200,000 home. The annual cost of home insurance is influenced by factors such as the risk of natural disasters in your area.

Regions more susceptible to natural disasters, such as floods, hurricanes, or tornadoes, typically face higher rebuilding costs, leading to increased insurance premiums. Keep in mind that standard insurance policies might not cover damages caused by floods or hurricanes. If you live in a flood-prone area, you should purchase flood insurance.

Average homeowners insurance cost for a $300,000 house in Spokane

According to a rate analysis by Insure.com, homeowners in Spokane pay an average of $1,544 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you’ll have to pay $335 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in Spokane by company

After comparing several homeowners insurance companies, Nationwide offers the lowest rates in Spokane. Its average annual rate for homeowners in Spokane is $1,007 , while PEMCO is the second-cheapest.

Researching the insurance company is crucial before selecting a homeowners insurance policy. Our experts have analyzed all insurance providers in Spokane and compiled a list of the cheapest home insurance providers. Below, you’ll find the home insurance companies in Spokane and their average annual premiums.

Home Insurance Company	Annual rate
Nationwide	$1,007
PEMCO	$1,089
Allstate	$1,097
Farmers	$1,450
State Farm	$1,274
USAA*	$2,358

*USAA is only available to military community members and their families.

Bundling your home insurance with other policies, like auto insurance, can lead to significant savings. Insurance companies often offer discounts for customers who combine multiple policies. By bundling, you can reduce your premiums and manage your insurance needs with one company.

Natural disasters in Washington that can impact your home insurance

Living in Washington means facing the risk of natural disasters that can seriously damage your home and belongings. These events can lead to expensive repairs and major insurance claims. That’s why it’s so important to understand which disasters are most likely in your area before choosing a home insurance policy.

Being aware of your local risks helps you choose the right level of protection, from setting appropriate coverage limits to deciding on deductibles or adding extra coverage. Taking the time to tailor your policy to those risks can help you avoid being underinsured and give you peace of mind if you’re impacted by a natural disaster.

Washington is commonly affected by Landslide and Volcanic activity.

How home insurance protects you against natural disasters

Home insurance can provide valuable protection against the financial impact of natural disasters. Standard home insurance policies typically cover damages from fire, windstorms, hail and lightning. However, events such as floods, earthquakes or landslides are excluded and require purchasing additional policies or endorsements. For example, flood insurance must be purchased separately, as it is not typically covered by a standard home insurance policy.

Home insurance pays for home repairs, replacement belongings and temporary living expenses if your dwelling becomes uninhabitable due to damage. The protection offered by home insurance can significantly reduce the financial impact of natural disasters.

Pro tip: Review your policy annually

There’s little time to prepare for a natural disaster, and it’s too late to make changes once a storm is on the radar. Make sure your homeowners insurance includes coverage for the types of disasters common in your area. Standard policies don’t always cover everything, like flood damage, so double-check exclusions and consider add-ons if you need them.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Spokane for $300,000 dwelling coverage, $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.