Spokane, Washington is now a growing city in the Pacific Northwest, but the typical cost of home insurance is still somewhat reasonable. The expense of homeowners insurance in Spokane is $893 per year for a policy that covers $250,000 in property damage. That is less expensive than the average in Washington of $948 per year, and is significantly less expensive than the national average of $1,428 per year for the same level of coverage in dwelling. However, you’ll discover that, based on the average cost, some companies have cheaper insurance policies than others. The research into average rates at Bankrate has revealed that some of the most affordable home insurance companies in Spokane are PEMCO, USAA and Nationwide.
The most affordable home insurance companies in Spokane are PEMCO, USAA and Nationwide, according to the average cost of data from Quadrant Information Services. After calculating the average rate, we assessed each insurance company and assigned a Bankrate Score of 5 points to them. The rating of the bank’s credit is based on multiple factors, including the average cost, financial viability, and J.D. Power customer satisfaction rankings, online abilities, and additional features. When shopping for a company that offers cheap prices, using Bankrate Scores to direct your search can assist you in quickly selecting a reputable company that offers more than just the lowest prices.
In the table below, you can see our full list of the cheapest home insurance companies in Spokane, as well as their average premium, J.D. and Bankrate Score.
| Home insurance company | Bankrate Score | Average annual premium for $250K dwelling coverage | J.D. Power score |
|---|---|---|---|
| PEMCO | Not rated | $456 | N/A |
| USAA | 3.7 | $645 | 881/1,000 |
| Nationwide | 3.2 | $654 | 812/1,000 |
| Travelers | 3.3 | $659 | 790/1,000 |
| Allstate | 3.5 | $696 | 809/1,000 |
PEMCO
Based on the average cost of insurance from Quadrant, PEMCO has the lowest premium for home insurance in Spokane. Since the company only offers insurance in Washington and Oregon, they lack the necessary data to be assigned a Bankrate Score, but if the price is of paramount importance, it may be worth investigating. PEMCO also has a variety of potential savings associated with them, including savings for teachers (teachers, school officials and employees), being claim-free, having a home and automobile policy, having fire sprinklers or a security system in your home, and several other options. However, one of the negative aspects of PEMCO is that there are few endorsements available.
USAA
The U.S. Army is one of the most popular insurance companies on the market, but you can only receive home insurance from U.S. Army if you’re active duty or retired and have a family member in the military immediately. The USAA has a low average rate but only a handful of potential reductions, including policy bundling and being claim-free. One benefit of the U.S. Army is that the replacement cost of coverage is common, and policies have specific military-related coverage, such as the protection of your uniform and military equipment.
Nationwide
Nationwide stands out for its variety of coverage options, this is beneficial if you want to personalize your policy. Nationwide offers identity theft protection, water conservation protection, dwelling replacement costs, brand new items protection, valuables plus protection, and several other options. The company offers a variety of promotional opportunities. There are potential savings associated with living in a gated community, purchasing a new home, having home insurance prior to purchase and being free of claims.
However, Nationwide was considered average by J.D. Power to improve the overall satisfaction of customers, so it may not be your first choice if customer service is your number one priority.
Travelers
Travelers is another exceptional home insurance provider that you should consider if you want to augment your policy with endorsements. You can receive home insurance, identity theft insurance, jewelry and valuables, special personal property insurance and other types. Travelers also have a few potential savings, including a 5% discount for having a green home with a LEED certification. However, if you’re in search of an insurance company that provides exceptional customer satisfaction, Travelers may not be the ideal choice. It’s considered the most popular. The maximum power rating of the home insurance companies in Spokane that we considered.
Allstate
Allstate has a variety of promotional campaigns and discounts for Spokane homeowners. The company offers a welcome discount for new customers along with a potential loyalty discount, a new homeowner’s discount, a protective device discount and several other special deals. Allstate also has a variety of unique endorsements, including yard and garden protection, green funding coverage, musical instruments, sports equipment and more. However, Allstate is considered average for overall customer satisfaction by J.D. Power, which shows that some customers are displeased with the company’s experience.
Home insurance in Spokane, Washington, is available.
Standard home insurance policies cover a variety of losses that are associated with home ownership. However, some dangers are not addressed. To cover the gaps in your home insurance, it’s beneficial to add supplemental coverage types, which are types of coverage that are extra and are optional. These types of coverage can be beneficial to enhance your policy. Here is a list of endorsements associated with home insurance that are helpful in Spoken:
- Water backup insurance: Water backup coverage is responsible for damages that are caused by water backing up in your home via pipes or drains. Many policies also cover the damage caused by a failed sump pump or backup in the sewer.
- Valuable items include: Most home insurance policies limit the coverage of valuables, such as jewelry and art. However, you can also schedule a personal endorsement on property that will increase the amount of coverage for expensive items.
- Flood insurance: Because heavy precipitation and flooding are common in Washington, having flood insurance is probably beneficial. Home insurance that is basic doesn’t include coverage for floods-induced damage. The most common method of receiving flood insurance is through the National Flood Insurance Program (NFIP), however, many individual insurance providers also offer flood coverage today. Very few companies specialize in flood insurance as an endorsement, however, this will likely need to be purchased separately.
Home insurance discounts in Spokane
Many home insurance companies in Spokane have special discounts that can reduce your cost. However, every insurance company in Washington that offers home insurance has different promotions that lead to different savings amounts. Here are some of the promotions that you can commonly find in Spokane:
- Discount for claim-free coverage: If you have no recent insurance contracts on your history, many home insurance companies will lower your rate.
- Pay the entire yearly premium in full: This usually leads to a cheaper premium.
- Discounted devices: If you have devices that are protective in your home, such as a system of alarm or a fire sprinkler, you could be eligible for a discount.
- Policy bundling discount: When you purchase two insurance policies from the same insurance company, such as home and auto insurance, you can often receive a significant discount (typically on one of the policies).
When quotes for home insurance are received, pay attention to the discounts that each insurance company offers (and which you should qualify for) in order to see what savings you can actually receive. Some reductions have a greater impact on your premium than others. For instance, Allstate has a discount of up to 25% when you combine your policies, but the 10% bundling discount of USAA is not advertised as such.
