Our editorial team analyzed regional and national home insurance companies that sell policies in Spokane to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.
Spokane homeowners pay an average of $1,455 per year for a $300,000 home insurance policy with a $1,000 deductible. Policies protect you from some risks but don’t cover everything you may encounter, such as wildfires, flooding, and earthquakes. Homeowners insurance in Spokane typically covers wildfires, but you’ll need additional coverage to protect against flood and earthquake damage.
Here’s what you need to know about finding homeowners insurance in Spokane.
Best home insurance companies in Spokane
Spokane’s got no shortage of solid home insurance companies ready to help protect your piece of the Inland Northwest. The right coverage comes down to understanding what home insurance covers and what coverage you need.
It’s worth shopping around to compare quotes — the best insurance company for your South Hill craftsman might be different from what works for your friend’s Five Mile Prairie rambler.
Best company for most Spokane homeowners: Nationwide
Best company for wildfire coverage: Chubb
Best company for cheap premiums: Allstate
Cheapest home insurance companies in Spokane
Allstate offers the most budget-friendly rates around town. With its average cost of home insurance coming in at $860 per year in Spokane, you can secure affordable coverage from a reputable company.
Here’s what local homeowners in Spokane are paying for a $300,000 policy from the cheapest insurance companies in the area.
How much is home insurance in Spokane?
Spokane homeowners spend $1,455 per year on average for standard home insurance with $300,000 in dwelling coverage and a $1,000 deductible.
Finding cheaper homeowners coverage is possible. Your actual cost might swing higher or lower depending on factors like your home’s age, how close you are to a fire station, your claims history, and even your credit history.1
Cost of home insurance by dwelling coverage in Washington
Dwelling coverage is the part of a home insurance policy that protects your home’s structure. The math is pretty straightforward — the more coverage you want, the more you’ll pay. For instance, insuring a modest home for $200,000 might cost around $1,121 per year, while covering a more upscale house for $500,000 could push your rates north of $2,000.
These figures show how much more Washington homeowners pay as dwelling coverage limits increase.
Cost of homeowners insurance by deductible amount
Your deductible is the out-of-pocket amount you’ll need to fork over before your insurance company steps in to cover a claim. When deciding between a high or low deductible, the trade-off is simple — a low deductible means you’ll pay more premiums but less out of pocket when disaster strikes. A higher deductible lowers your rates but costs you more when filing a claim.
The following table shows how deductible amounts affect annual insurance premiums in Spokane.
Average cost of home insurance in other cities in Washington
The cost of protecting your home changes according to which Washington city you call home. A house in Tacoma might cost more to insure than the same house in Seattle simply because of different weather patterns, wildfire risk zones, flooding risks, and local crime statistics.
See how your city stacks up against others across Washington state.
What to know about owning a home in Spokane
Spokane has fantastic four-season living, but it also has unique challenges worth knowing about before you settle on the best home insurance company.
Spokane home insurance FAQs
Here are answers to the most common questions homeowners ask about insurance coverage in Spokane, WA.
Spokane homeowners pay an average of $121 per month, or $1,455 per year, for home insurance. Homeowners in flood-prone areas should consider separate flood insurance, while earthquake-prone residents may need additional earthquake coverage.
Allstate has the cheapest homeowners insurance in Spokane, with average premiums of $860 per year. That’s nearly $600 less than the average, proving that finding home insurance below the city average is possible.
The 80% rule in homeowners insurance means your insurance company expects you to have a policy that covers at least 80% of what it would cost to rebuild your home.3 Otherwise, your insurer might not fully cover a claim you make for damage to your home.
Spokane homes can have radon issues requiring mitigation in new construction. Many older properties have failing Orangeburg sewer lines, while spring thaws create serious flooding and runoff problems for homeowners.
Standard Spokane homeowners policies typically cover wildfire damage, but floods and earthquakes are no-gos. You’ll need separate flood insurance and specific earthquake endorsements for complete protection.
)
Insurance Writer
)
)