Washington Renters Insurance

Whether you are renting a one-bedroom apartment in a Seattle high-rise, or you are leasing a four-bedroom house in Walla Walla, if you are a tenant in the state of Washington, you can benefit from having renters insurance protection.

Independent insurance agents are ready to help you find a great policy. These agents work for you, not for a particular insurance company, so they can shop around to find the coverage you want at a price you can afford. Contact an insurance agent near you to start comparing renters insurance quotes.

Washington Rental Statistics

• Washington residents pay an average of 1,584 per month in rent.
• Around 37% percent of all homes in Washington are occupied by renters.
• An estimated 45.3% of renters in Washington spend at least 30% of their income on rent and utilities.

How Much Does Renters Insurance Cost in Washington?

The average renters insurance policy in Washington costs around $163 a year. That is less than $14 a month for the peace of mind you can have knowing your personal property is covered. Most people spend more than that a month just on their morning coffee.

Some considerations that can make your actual renters insurance costs higher or lower than this average rate include:

• The amount of personal property coverage you need
• The burglary rate and weather risks where your home is located
• Whether you are purchasing actual value or replacement cost coverage
• Whether you are bundling your renters policy with other coverage like car insurance or life insurance

You can make sure that you are getting your policy at a good price by contacting a few insurance companies and requesting customized quotes. Independent agents can save you time by doing the comparison shopping legwork for you.

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What Hazards Does Renters Insurance Cover against in Washington?

Personal property coverage (also referred to as contents coverage) is arguably the most important part of your renters insurance policy. It can pay to replace or repair your belongings if they are lost or damaged due to a covered event.

This coverage is particularly important in Washington, which has been ranked the 4^th most disaster-prone state in the country, due in large part due to wildfires. However, not all hazards are covered by renters insurance.

Your policy will cover damage caused by the following types of risks:

• Property crimes, like burglary and vandalism
• Wildfires
• Accidental fires
• Severe storms, including thunderstorms, windstorms, and hailstorms
• Severe winter weather, including heavy snows, ice accumulation, and prolonged freezing temperatures

It is important to be aware of which hazards are and aren't covered by your renters insurance policy before you make a purchase.

What Risks Aren't Covered by Renters Insurance?

Renters insurance covers a lot, but it doesn't cover against every natural hazard that you may face as a resident of the Evergreen State. Specifically, you should not expect your renters policy cover damage caused by:

• Floods: To be covered against this hazard, you will need to supplement your renters insurance policy with flood insurance. Affordable contents-only policies are available through the National Flood Insurance Program (NFIP).
• Mudflow: This refers to mud that has seeped into your home during a flood. Mudflow is covered by your flood insurance policy, if you have one.
• Mudslides and landslides: A mudslide or landslide is different from mudflow. Because this hazard involves earth movement, it is not covered by flood insurance. There is actually no insurance policy that covers against this risk.
• Earthquakes: Depending on where you live in Washington, you have a 40% to 80% chance of experiencing a major earthquake within the next 50 years. Property damaged by seismic events can only be covered by earthquake insurance. However, given its high deductibles and price, this coverage might not be worth the cost for renters.
•  Tsunamis: These have occurred in Washington in the past, and chances are good that they will occur again. They can force an extremely large wave of water onto land, causing widespread flooding and damage. Tsunami damage is covered by flood insurance.

Insurance agents who live and work in your community are best equipped to assess the various risks you face and to recommend the right policies to cover against each of them.

What Else Does Washington Renters Insurance Cover?

In addition to covering your personal property, your renters insurance will provide you with:

• Loss of use insurance: This can cover your temporary living expenses if a covered event like a fire leaves your rental home uninhabitable and you must seek alternate accommodations while your landlord makes repairs. It can pay for things like:
  • Hotel or temporary lodging costs
  • Moving fees
  • Storage fees
  • Pet boarding fees
  • Meals, if your accommodations do not include a kitchen
• Renters liability insurance: This can cover your financial responsibilities and legal fees if you unintentionally cause injuries, property damage, or financial harm to others.

How Can an Independent Agent Help You Find the Best Renters Insurance Policy?

When you are looking for a good renters insurance policy, local independent agents can help. These agents are available to answer all of your insurance-related questions and can get customized quotes from a variety of insurance providers as they search for a suitable policy at a competitive price.

Getting information from an independent insurance agent is free. With more than 300 independent insurance agencies located in the state of Washington, it should be easy find a helpful insurance agent near you.