Table of Contents
- How much does renters insurance cost in Washington?
- Average price of renters insurance in Washington by city
- Average price of renters insurance in Washington by insurance company
- The cheapest renters insurance in Washington: Lemonade
- The best renters insurance in Washington: Farmers
- Other Washington renters insurance providers you should consider
- What else do you need to know about renters insurance in Washington?
- How we gathered our data on Washington renters insurance prices
How much does renters insurance cost in Washington?
On average, renters insurance costs $15.42 in the state of Washington, which is much less than the national average of around $20. Farmers quoted the highest price we received, selling policies for $22.75 in Seattle. Lemonade provided the cheapest quote in Bellingham for $5.08.
The average price of renters insurance is remarkably consistent across Washington’s 15 largest cities. Between the most expensive city for insurance (Seattle at $16.06) and the least (Bellingham at $14.44) there was less than a $2 difference. Washington’s prices don’t vary much because several insurers have elected to charge a flat rate across the state, which we discuss below.
Also, Washington’s largest cities are clustered closely together in the northwest and have similar weather conditions. Weather is one of many factors that can affect the price of renters insurance. For example, if you live in an area that is prone to hailstorms, your insurer will probably raise your renters insurance premiums.
Other factors that affect the cost of renters insurance include:
- Location: Where you live matters to your insurer. If you live in a neighborhood that has a high crime rate, you’ll pay more for insurance. Similarly, if you live in a fairly remote area that’s far away from the nearest fire department, you’ll also have to pay more.
- Policy: If you increase your coverage limits past your insurer’s defaults, or you add optional renters insurance riders to your policy, your premiums will go up.
- Credit history: If you have poor credit, some insurers will charge you more because they think you’re more likely to miss payments. Also, statistically, people with low credit scores are more likely to file claims.
Average price of renters insurance in Washington by city
The following table shows the average monthly and yearly costs of renters insurance in Washington’s most populous cities.
|City||Average price (monthly)||Average price (yearly)|
Average price of renters insurance in Washington by insurance company
This table shows the average quotes we received from the eight biggest insurers in Washington and how their quotes differed from the state average.
|Insurer||Price||Difference from average|
When we collected quotes, we found that Allstate, GEICO, Liberty Mutual, and State Farm offered flat rates across the state. When we asked their insurance agents about this, we were told that they’d decided to sell all of their policies at their base price instead of adjusting their rates based on location. In other words, the insurers’ flat rates represent the minimum costs of their policies, and you can buy their policies for their minimum cost no matter where you live.
The cheapest renters insurance in Washington: Lemonade
Lemonade offers the cheapest insurance in Washington, with a statewide average of $8.57 per month. They’re the most affordable option in every city we looked at.
Should you get Lemonade’s renters insurance in Washington?
Lemonade isn’t a bad choice for renters insurance. Their app is straightforward to navigate, and considering how affordable they are, their basic coverage is reasonable.
Benefits of Lemonade renters insurance in Washington
- Replacement cost coverage: Providers like Nationwide charge their customers extra if they want a renters insurance replacement cost policy, which is more comprehensive than an actual cash value policy. Every Lemonade policy includes replacement cost coverage at no additional charge, which is a plus.
- Fast payouts: Because Lemonade processes many of their claims using AI, 30% of them are handled instantly, which is helpful if you need your money quickly.
Disadvantages of Lemonade renters insurance in Washington
- Limited bundling options: Lemonade doesn’t sell auto insurance, so you won’t be able to discount your auto and renters policies through bundling. This is a big drawback, and if you have a car, it could mean that they’re no longer your cheapest option.
- Poor customer service: If you need to file a claim, you probably want to speak to an insurance professional and not an AI chatbot. Unfortunately, with Lemonade, that’s not always easy; you’ll probably have trouble getting a customer service rep on the phone.
Lemonade has plenty of selling points, but if you’re after the best renters insurance in Washington, we recommend a different provider.
The best renters insurance in Washington: Farmers
Farmers’ renters insurance costs $19.46 a month, which is higher than the state average ($15.42). Nonetheless, if you’re willing to spend more for better protection, they’re a reliable company with a reputation for fair payouts.
Benefits of Farmers renters insurance in Washington
- Earthquake endorsement: Farmers provides renters insurance coverage for earthquakes, which is important given how common they are in the state. Coverage ranges from $100,000 to a maximum of $500,000. What makes Farmers unique is their mobile claims center. When there’s an earthquake or another type of disaster, Farmers sends out crisis response buses with representatives to handle your claims and provide you with emergency funds, free shelter, and warm food.
- Bundling options: Most providers allow you to bundle renters and auto policies, but Farmers is one of the only companies that will let you bundle life insurance or umbrella insurance with renters insurance. If you don’t own a car, you might still be able to reduce the overall cost of your insurance with these bundling discounts.
Disadvantages of Farmers renters insurance in Washington
- Pricing: As mentioned, Farmers is significantly more expensive than most of their competitors in Washington. Moreover, they only offer three discounts: one for bundling, another for households that have been smoke-free for two years, and another for installing home security devices like smoke detectors and burglar alarms.
Overall, despite their higher-than-average prices, we found that Farmers was the best renters insurance provider in Washington state because of their extensive coverage and bundling options.
Other Washington renters insurance providers you should consider
In case you’re not sold on the insurance companies we mentioned above, we’ve highlighted the best renters insurance in WA if you’re looking for:
- Volcano coverage
- Renters insurance for long-term renters
- Renters insurance for first-time renters and college students
Best Washington renters insurance for volcano coverage: State Farm
If you’re one of the estimated 150,000 people living in the risk zone of the active volcano Mount Rainier, you need volcano coverage. Fortunately, renters insurance covers most of the damage caused by volcanoes, including
- Lava flow
- Airborne volcanic shock waves
- Ash and smoke
State Farm’s volcano coverage stands out because they offer the best loss-of-use coverage, which you’ll need if an eruption makes your home uninhabitable. Most companies will pay for your additional living expenses for one year, but State Farm will support you for two.
Note that State Farm doesn’t cover the following volcano-related damages:
- Land shock waves
Every insurer writes their policies slightly differently, although they all have broadly similar exclusions. Speak to your local agent to find what you’re covered for.
Best Washington renters insurance for long-term renters: Nationwide
If you’ve been renting for a long time, you’ve probably made some small adjustments to make your apartment feel homely, which is why we recommend Nationwide.
Along with the four standard types of renters insurance coverage (contents insurance, loss-of-use coverage, guest medical coverage, and personal liability coverage), Nationwide’s basic policies include building alteration coverage for no extra charge. If a covered peril damages your home improvements, like light fixtures or wallpaper you installed yourself, you’ll be protected.
Moreover, Nationwide was the third-cheapest provider we found, selling policies for $13.06 per month. Despite the additional protection they offer, their policies are very affordable.
Best Washington renters insurance for college students and first-time renters: Lemonade
Most people assume first-time renters and college students don’t need much in the way of insurance, but the value of your belongings will quickly add up (sofa beds cost more than you think).
We recommend Lemonade’s basic policy because it’s extraordinarily cheap, you still get an acceptable amount of coverage, and if you don’t know how to get renters insurance, their app makes the process painless. (If you’re not even sure what renters insurance is, their website explains their coverage in plain language, with no jargon.)
How to learn more about renters insurance providers in Washington
Want to know more about any of the insurance companies we mentioned? Check out our reviews below:
What else do you need to know about renters insurance in Washington?
The laws around renters insurance are different in every state. See the answers to the following Washington-specific questions:
Does renters insurance require a credit check in Washington?
No, as of June 21, 2021, you can get renters insurance with no credit check. Providers are banned from running credit checks in Washington for three years.
Can landlords require renters insurance in Washington?
Yes, your landlord can require you to buy renters insurance before giving you the keys to the property, so long as they’ve specified this requirement in the lease.
How we gathered our data on Washington renters insurance prices
To obtain quotes from the insurance companies we analyzed, we used the following data:
- Insured party: 30-year old male, employed, unmarried, with no pets
- Personal property coverage: $30,000
- Personal liability coverage: $100,000
- Guest medical coverage: $1,000
- Loss-of-use coverage: Insurer’s default (usually based off personal property coverage)
- Deductible: $500
The price of your own insurance will vary depending on your personal situation and the level of coverage you want.
Note that the data we collected excludes the down payments and startup fees that some insurers charge. You should check whether your provider will give you renters insurance without a down payment before making your purchase.
The price of renters insurance in Washington: complete data set
Below we’ve listed all of the data we collected while surveying the 8 biggest insurers across Washington.
|City||Allstate||Geico||Progressive||State Farm||Liberty Mutual||Nationwide||Lemonade||Farmers|