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Solidago/Getty Images November 03, 2022 Mandy Sleight has been a licensed insurance agent since 2005. She has three years of experience writing for insurance websites such as Bankrate, MoneyGeek and The Simple Dollar. Mandy writes about auto, homeowners, renters, life insurance, disability and supplemental insurance products. Amelia Buckley is an insurance editor, covering auto, home and life insurance. She emphasizes creating informative, engaging and nuanced content to support readers in making personalized insurance decisions. Bankrate logo The Bankrate promise
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money. Our content is backed by LLC, a licensed entity (NPN: 19966249). For more information, please see our Insurance Disclosure. Bankrate logo The Bankrate promise
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Although homeowners insurance is not a legal requirement, many insurance professionals recommend this coverage to provide financial protection for one of your largest assets. Fortunately, there are companies that may offer the coverage you need at a price you can afford. In Spokane, Washington, the average home insurance cost for $250K in dwelling coverage is $847 per year. That is slightly lower than the Washington State average, which is $899 per year for the same coverage. Compare rates and save on home insurance today! Get quotes Close X This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare home insurance rates
Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage Bankrate See more providers in Choose from insurers in Show More Mortgage Leaving so soon Your custom quotes are just minutes away
Return to form This advertisement is powered by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249) and a corporate affiliate of Bankrate. The offers and links that appear on this advertisement are from companies that compensate Coverage.com in different ways. The compensation received and other factors, such as your location, may impact what offers and links appear, and how, where and in what order they appear. While we seek to provide a wide range of offers, we do not include every product or service that may be available. Our goal is to keep information accurate and timely, but some information may not be current. Your actual offer from an advertiser may be different from the offer on this advertisement. All offers are subject to additional terms and conditions. Compare home insurance rates
Answer a few questions to see personalized rates from top carriers. Continue Powered by Coverage.com (NPN: 19966249) Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way. Quick Facts $382/year average savings through Bankrate 2 out of 3 homes are underinsured 1 out of every 20 insured homes makes a claim each year 100% of homes need insurance before getting a mortgage Bankrate See more providers in Choose from insurers in Show More Mortgage Leaving so soon Your custom quotes are just minutes away
Return to form If you’re looking for affordable homeowners insurance in Spokane, Bankrate has researched and compared dozens of carriers, coming up with five you may want to consider. Based on our research, the top three cheapest carriers include PEMCO, Travelers and USAA. Best cheap home insurance companies in Spokane
According to rate data from Quadrant Information Services, PEMCO, Travelers and USAA are among Spokane’s best . In addition to low rates, we considered availability, coverage options, discounts and digital tools when making our selections. We also based recommendations on third-party ratings from the and AM Best. Using these metrics, we assigned each carrier a Bankrate Score. Based on a 5-point scale, this Score may help homeowners quickly compare companies to narrow their search. If you’re looking for the best cheap homeowners insurance in Spokane, you might start with a quote from these companies: Home insurance company Bankrate Score Average annual premium for $250K dwelling coverage J.D. Power score PEMCO 5.0 $393 Not rated 3.7 $614 794/1,000 4.8 $616 884/1,000 4.0 $619 816/1,000 3.0 $665 Not rated *Not officially ranked by J.D. Power due to eligibility restrictions. PEMCO
Seattle-based offers products to and Oregon residents. Its homeowners insurance policy provides basic coverage, with the option to include replacement coverage on contents and furniture and appliance coverage. The carrier also offers wildfire risk mitigation services to homeowners in fire-prone areas. PEMCO offers some of the lowest rates on our list, and policyholders may be able to save even more with for bundling, remaining claims-free, sprinkler systems and more. It also extends a discount to educators. Unfortunately, PEMCO is not rated by J.D. Power and holds a financial strength rating of from AM Best. Travelers
Environmentally-conscious Spokane residents might want to look at Travelers insurance for coverage. The company offers a discount for LEED-certified homes and to rebuild your home with green materials after a covered loss. Other endorsements include water backup coverage, a personal articles floater and identity fraud coverage. Travelers offers five that may help you save on your premium, but the carrier did earn a below-average J.D. Power score, indicating that some customers may not be satisfied with the insurer. Learn more: USAA
USAA is well-known for its award-winning customer satisfaction and low rates. The carrier consistently tops J.D. Power’s list, although it is not officially ranked due to eligibility restrictions. Coverage is only available for active military members, veterans and eligible family members. USAA home insurance policies include coverage for military uniforms as well as optional add-ons like home sharing coverage, flood insurance and earthquake coverage. Although policyholders may save by bundling, installing protective devices and remaining claims-free, the carrier does not offer as many discounts as others on this list. Learn more: Nationwide
Nationwide could be a good choice for new homeowners or owners of newly-constructed homes. The insurance company offers for new construction, recently renovated homes and homeowners who purchased their property in the last 12 months. Nationwide also offers a variety of options for policy customization including identity theft coverage, Valuables Plus, earthquake insurance, flood insurance and water backup coverage. Nationwide did earn a below-average score from J.D. Power for customer satisfaction and has a higher-than-average complaint index from the National Association of Insurance Commissioners (NAIC). Learn more: Grange
Grange is a regional insurance carrier that only writes policies in 13 states, depending on the policy type. The carrier did not rank in J.D. Power’s study, but it has an average NAIC complaint index and a financial strength rating of A (Excellent) from AM Best. Grange could be a good option for homeowners looking to customize their policy. The carrier offers add-ons like assisted living care coverage and cyber insurance. Although Grange’s average premium is one of the highest on this list, policyholders may be able to lower their rate with discounts for regular home maintenance, bundling and getting an early quote. Learn more: Home insurance coverage options in Spokane
Home insurance is not required in Washington, but if you have a mortgage, your lender may require it. A standard homeowners insurance policy may not offer as much coverage as you’re looking for. Policy are optional coverages you can include in your policy to tailor it to your unique needs. Some common endorsements include: Flood insurance: Standard home insurance policies do not cover damage from floods. If you live in an area that could flood, you could consider purchasing a from your insurance company or through the National Flood Insurance Plan (NFIP). If your home is in an at-risk area, your lender may require it. Scheduled personal property: If you have high-value items in your home, you may want to purchase . A standard homeowners policy will cap the coverage on personal belongings, which may not be enough if you have several high-value items. Water backup coverage: Without , sump pump failures and other types of sewer or may not be covered under your policy. Adding this endorsement may prove valuable if you’re worried about water damage, have trees in your yard that could damage underground pipes or have a sump pump in your home. Home insurance discounts in Spokane
Even once you have found a carrier that offers the rates you are looking for, you may be able to pare down the price of your home insurance further by looking at the insurance company’s available . Some common discounts that could lower your bill include: Bundling: Buying with the same insurance company may lower your premiums significantly. Smart home: Some insurance companies recognize claim-minimizing measures like automatic interior sprinklers and smart alarms with a . Claims-free: Some insurance companies may extend a discount for customers who have not filed a claim within a set period of time, typically three to five years. New construction or remodel credits: A newly-built or remodeled home may earn you a discount. This may be in part because modern materials and electrical systems may reduce the risk of fires. may have the most significant impact on your insurance premiums, though each carrier’s discount percentage may vary. Speaking with your insurance agent may help you identify discounts you are eligible for. Frequently asked questions
What is the best home insurance company in Spokane
The may be different for everyone. Shopping around and comparing for the same coverage types across multiple companies may help you find the best rates. It may also be helpful to speak with a licensed insurance agent at companies you are interested in to find out more about unique coverage options and available discounts to suit your needs.
How much does home insurance in Spokane cost
The average cost of homeowners insurance in Spokane is $847 for $250K in dwelling coverage per year. This is lower than the Washington average of $899 and significantly lower than the . Your actual rate may vary based on several factors including the age and condition of your home.
How common are home fires in Spokane
The Spokane Fire Department has reported over so far in 2022. Home fires do not seem to be unreasonably common in Spokane, but Wildfires are a significant threat in the area. A found that more than half of Washington homes most at risk for wildfire are in the .
What is the average home price in Spokane Washington
As of September 2022, the average median home price in Spokane, Washington is .
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2022 current rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits: Coverage A, Dwelling: $250,000 Coverage B, Other Structures: $25,000 Coverage C, Personal Property: $125,000 Coverage D, Loss of Use: $50,000 Coverage E, Liability: $300,000 Coverage F, Medical Payments: $1,000 The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required). These are sample rates and should be used for comparative purposes only. Your quotes will differ. Bankrate Score
Bankrate Scores are calculated on a five-point scale and primarily reflect a weighted rank of industry-standard ratings for financial strength and customer experience in addition to analysis of quoted annual premiums from Quadrant Information Services, spanning all 50 states and Washington, D.C. We know it is important for homeowners to be confident their financial protection covers the likeliest risks, is priced competitively and is provided by a financially-sound company with a history of positive customer support. To determine how well the best home insurance companies satisfy these priorities, third-party agency ratings from , , , , and Moody’s had the most impact on the companies’ Bankrate Scores. As price is a common consideration for homeowners, we analyzed quoted premiums based on 40-year-old male and female homeowners with a home policy with $250,000 in dwelling coverage. This profile, assessed across nearly 35,000 ZIP codes in the U.S., provided a basis on which homeowners may compare each provider. While coverage options, insurer availability, affordability and customer experience are often the top priorities, Bankrate also analyzed each insurer’s online and mobile resources for policy management and claims handling. Insurance is rapidly evolving to keep pace with our digital world, so these aspects also carried weight in determining Bankrate Scores. SHARE: Mandy Sleight has been a licensed insurance agent since 2005. She has three years of experience writing for insurance websites such as Bankrate, MoneyGeek and The Simple Dollar. Mandy writes about auto, homeowners, renters, life insurance, disability and supplemental insurance products. Amelia Buckley is an insurance editor, covering auto, home and life insurance. She emphasizes creating informative, engaging and nuanced content to support readers in making personalized insurance decisions. Related Articles