Condo insurance is a must-have for condo owners. Even if you have the protection offered by your association, it may not cover the things inside of your condo like furniture and personal belongings. Therefore, purchasing condo insurance is a necessity.
Finding the best condo insurance in Washington is no easy task. There are many factors to consider when looking for condo insurance and it can be difficult to know which company will provide you with the best coverage at a fair rate.
In this guide we'll provide a list of the best companies in Washington, how much condo insurance costs and condo insurance rates by companies.
Key takeaways
- The residents of Washington pay an average of $607 per year for condo insurance for a coverage level of $600,000 for personal property, $300,000 for liability protection with a $1,000 deductible.
- Based on the analysis by Insurance.com, State Farm is the top pick for the best condo insurance company in Washington.
- Allstate offers the cheapest condo insurance in Washington at an average of $276 per year.
Best condo insurance companies in Washington
In Washington, you have a lot of options when it comes to finding the best condo insurance company. To make your task easier, our insurance experts have analyzed premiums, coverage offerings, J.D Power score and customer satisfaction rating of all the major insurers across Washington. Below are the best condo insurance companies in Washington based on Insurance.com's analysis.
| Company | Average rating(out of 5) |
|---|---|
| State Farm | 3.9 |
| Allstate | 3.8 |
| USAA | 3.8 |
| Nationwide | 3.7 |
| American Family | 3.3 |
| Farmers | 2.7 |
Compare best condo insurance companies in Washington
State Farm is our top pick for the best condo insurance company in Washington, based on Insurance.com's rate analysis. It has earned 3.9 scores out of 1000 from J.D. Power and AM Best awarded it A++ rating.
Allstate and USAA are other top performers on our list. All these providers have a strong reputation and offer competitive rates. Compare the carriers using their J.D. Power score and AM Best rating mentioned in the table below.
| Company | J.D. Power Score | AM Best Rating |
|---|---|---|
| USAA | 884 | A++ |
| State Farm | 829 | A++ |
| American Family | 842 | A |
| Nationwide | 816 | A+ |
| Allstate | 815 | A+ |
| Farmers | 792 | A |
Average cost of condo insurance in Washington
Washington residents pay an average of $607 annually or $51 per month for condo insurance. The recommended coverage level for condo insurance is $40,000 for personal property, $100,000 for liability protection with $1000 deductible.
Your particular condominium insurance cost will depend on the coverage level, the value of your condo, your location and the deductible amount you choose among other factors.
| Average Annual Premium | Average Monthly Premium |
|---|---|
| $607 | $51 |
CONDO INSURANCE CALCULATOR
Average condo insurance rates in WASHINGTON
AVERAGE RATE: $573
Most & least expensive zip codes for condo insurance in Washington
Most Expensive
| Zip Code | City | Highest Rate |
|---|---|---|
| 98158 | Seattle | $676 |
| 98131 | Seattle | $670 |
| 98132 | Seattle | $670 |
| 98118 | Seattle | $669 |
Least Expensive
| Zip Code | City | Lowest Rate |
|---|---|---|
| 98061 | Rollingbay | $511 |
| 98310 | Bremerton | $511 |
| 98110 | Bainbridge Island | $511 |
| 98311 | Bremerton | $511 |
Condo insurance rates by companies in Washington
Allstate offer the cheapest condo insurance rate in Washington at an average of $276 annually, among the carriers surveyed. Condo insurance rates vary between companies for the same policy. So, if you don't shop around, you will not know which insurer offers the most affordable rates.
Below you will find the average annual premium of major condo insurance companies in Washington.
| Company | Average Annual Rate |
|---|---|
| Allstate | $276 |
| Nationwide | $305 |
| State Farm | $465 |
| PEMCO | $480 |
| American Family | $549 |
| Farmers | $558 |
| USAA | $946 |
Methodology
Insurance.com compared condo insurance rates in 2022 provided by Quadrant Data Solutions for $60,000 personal property coverage with a $1000 deductible and $300,000 liability coverage for all available ZIP codes. ZIP codes were ranked based on the average rates for personal property coverage of $60,000, liability coverage of $300,000, and a $1,000 deductible and included good credit ratings. Content was updated in 2023.
