Insurance in Washington: A Guide to Auto & Home Coverage
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Having the right insurance in Washington State is essential both to meet legal mandates and to ensure you can receive compensation in the event of an unpredictable accident. Dive into Washington car insurance as well as home, life, health, and business insurance requirements and recommendations for residents of the Evergreen State.
Types of Insurance Coverage Available in Washington
Washington insurance requirements are generally comparable to other states in the U.S., but there are certain specifics you need to understand as a resident.
Auto Insurance in Washington
Like every state but New Hampshire, Washington State has minimum liability coverage requirements. To operate a vehicle in Washington State, you must have an insurance policy with minimum coverage limits.
You must also carry proof of Washington auto insurance in your vehicle at all times.
The exception to these minimums is if you own 26 or more vehicles and can provide a certificate of deposit for $60,000 to the state as proof of self-insurance.
The state does not require uninsured motorist coverage, but it's a good idea to get an auto insurance policy that includes this as well as common add-ons like collision coverage and comprehensive coverage.
Home Insurance in Washington
Homeowners insurance is not required by law in Washington State, but most mortgage companies do require it as a condition of approving a loan. Your mortgage company will dictate what coverage you have, but given the heavy rain, earthquake risks, and wildfires in certain areas, it's a good idea to have coverage for all of these items.
Insurance premiums in urban areas or high-risk areas tend to be higher than in rural ones. For savings, you can often get an insurance discount if you bundle homeowners and auto insurance policies.
Average Cost of Insurance in Washington
The average cost of insurance ranges by coverage type, region, discounts, and myriad other factors. These ranges are compiled from several sources:
- Car insurance: $510 to $1,713 per year
- Homeowners insurance: $1,110 to $1,413 per year
Factors Affecting Insurance Rates in Washington
Depending on the coverage, a range of factors may impact insurance rates. See some of the most influential factors insurance providers consider for each coverage type:
- Car insurance: Driving history and record, driver age, vehicle type, vehicle location (urban vs. rural), credit score
- Homeowners' insurance: Vicinity to common natural disaster areas, such as floods, earthquakes, and wildfires; credit score; home location (urban vs. rural)
- Health insurance: Pre-existing conditions, policyholder age, number of members on the policy
- Life insurance: Pre-existing conditions, policyholder age, number of beneficiaries
- Business insurance: Number of employees, business industry
Generally speaking, if you live in a congested area with a higher incidence of property crime or traffic accidents, you'll pay more for insurance. Likewise, if you're already in poor health, have a poor driving record, or are a teenager or elderly person, you'll pay more for car and health insurance. If your home is in an area where natural disasters frequently occur, you'll pay more for home insurance.
Useful Washington Insurance Resources
To figure out what insurance premiums you may have to pay for different types of insurance, contact the Washington State Office of the Insurance Commissioner for additional guidance and regulatory support.
Whether you're shopping for cheap car insurance in Washington State or buying a new home, finding the right insurance coverage for you is essential. You don't need to get on the phone with a pushy insurance agent. Use EverQuote's comparison tools to compare quotes and coverages in real time to find the best insurance in WA for your situation.