Wouldn’t it be nice if we could tell you the one company that has the best deal on coverage for homeowners? It’s not that easy, however, as there are a whole slew of unknown aspects like where you live in Seattle, if full coverage is needed, and the miles you drive each year. If you keep reading, we will teach you about the causes of high insurance rates and will hopefully give you a good beginning to your search for cheaper coverage.
For people who own their homes, one of the largest criteria that determine the cost of insurance is where your car is garaged. Regions with larger populations or more claims likely pay more, whereas areas with lower vehicle theft rates and fewer weather claims get the luxury of paying less.
The information below ranks the highest-priced places in Washington for homeowners to buy car insurance in. Seattle comes in at #7 with the yearly price of $1,349 for the average insurance policy, which is about $112 monthly.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Tacoma | $1,441 |
| 2 | Lakewood | $1,420 |
| 3 | Auburn | $1,408 |
| 4 | Federal Way | $1,393 |
| 5 | South Hill | $1,354 |
| 6 | Kent | $1,350 |
| 7 | Seattle | $1,349 |
| 8 | Renton | $1,348 |
| 9 | Shoreline | $1,312 |
| 10 | Everett | $1,288 |
| 11 | Bellevue | $1,243 |
| 12 | Kirkland | $1,231 |
| 13 | Marysville | $1,221 |
| 14 | Redmond | $1,214 |
| 15 | Sammamish | $1,196 |
| 16 | Vancouver | $1,157 |
| 17 | Olympia | $1,116 |
| 18 | Lacey | $1,111 |
| 19 | Spokane Valley | $1,087 |
| 20 | Spokane | $1,060 |
| Find Cheaper Rates Go | ||
Annual rates are comparative as vehicle location can change price quotes significantly.
Finding out which insurers offer the lowest-priced car insurance rates for homeowners involves more time than just comparing a company or two. Each auto insurance company uses a slightly different approach for setting prices, so we will examine the car insurance companies with the overall best prices in Seattle.
It’s a good idea to be aware that Washington car insurance rates are determined by lots of factors which can substantially change the policy premium. Simply turning a year older, buying a new vehicle, or getting a reckless driving citation can trigger changes in premium that may make certain companies more affordable than competitors.
Lowest Insurance Price Quotes for Homeowners
Capital offers some of the best car insurance rates in Seattle at around $761 per year. Grange, Nationwide, PEMCO, and Travelers also make the cut as some of the best Seattle, WA auto insurance companies.
As the rates illustrate above, if you have coverage with PEMCO and switched to Grange, you might realize annual savings of about $147. Policyholders with Travelers may save as much as $161 a year, and Mutual Enumclaw insureds might see rate reductions of $207 a year.
Remember that these prices are averages across all drivers and vehicles and do not take into consideration a specific vehicle garaging location for homeowners. So the car insurance company that fits you best may not even be in the list above. That points out the importance of why you need to compare rates from as many companies as possible using your own driver and vehicle profiles.
Tickets and at-fault accidents raise rates
A great way to obtain affordable car insurance prices for people who own their homes is to pay attention while driving and avoid accidents and keep your driving record clean. The chart below demonstrates how speeding tickets and fender-benders impact yearly insurance costs for each age group. The rate quotes are based on a single female driver, full coverage, $250 deductibles, and no other discounts are factored in.
In the chart above, the average cost of auto insurance in Washington per year with no accidents or violations is $2,001. Add in two speeding tickets and the average cost surges to $2,687, an increase of $686 each year. Now get one accident along with the two speeding tickets and the annual cost of car insurance for homeowners jumps again to an average of $3,380. That’s an increase of $1,378, or $115 per month, just for not driving attentively!
Does full coverage make sense?
Buying cheaper car insurance should be important to the majority of drivers, and one great way to find cheaper insurance for homeowners is to buy only liability coverage. The illustration below shows the comparison of insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on no claims or driving citations, $100 deductibles, single status, and no discounts are applied.
Averaged for all age groups, comp and collision coverage costs an additional $1,693 per year more than just buying liability only. That proposes the question if buying full coverage is worth the expense. There isn’t a steadfast formula of when to stop paying for full coverage on your policy, but there is a general guideline. If the yearly cost of full coverage is more than 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.
For example, let’s assume your vehicle’s settlement value is $12,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most you would receive is $11,000 after paying the physical damage deductible. If premiums are more than $1,100 a year for your policy with full coverage, then it may be the right time to buy liability only.
There are some conditions where eliminating full coverage is not a good plan. If you still owe money on your vehicle, you are required to maintain full coverage to protect the lienholder’s interest. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should maintain full coverage.
If you would rather get some guidance when trying to find the best insurance rates for people who own their homes, the agents shown below are a good start to aid you in deciding which car insurance policy is best.
To locate a Seattle auto insurance agent using an interactive map, click the button following the list.
- Propel Insurance: Marinkovich Stephen
925 4th Ave #3200 – Seattle, WA 98104 – (206) 676-4216 - Brent Amacher – State Farm Insurance Agent
2319 California Ave SW Ste A – Seattle, WA 98116 – (206) 935-0499 - George Fu – State Farm Insurance Agent
9026 Roosevelt Way NE – Seattle, WA 98115 – (206) 524-0330 - Jeff Kalvelage – State Farm Insurance Agent
315 N 36th St #201 – Seattle, WA 98103 – (206) 588-0559
Find a Seattle, WA insurance agent near you
How to find cheaper auto insurance for homeowners
It is possible to find better rates, and here are some money-saving suggestions that can help Seattle drivers find cheap auto insurance.
- Save money by observing traffic laws and speed limits
- Drive vehicles with five-star safety ratings
- Discounts for being claim-free can be substantial
- Bundle home and auto and save
- Remain accident-free and save
- Shop around for cheaper prices
The last tip is remarkably valuable, as was emphasized in the article above. Auto insurance rates in Seattle change frequently, so drivers shouldn’t be resistant to switch carriers if a lower-cost policy is available.
Staying with the same car insurance company is fine, but is isn’t recommended if it’s costing you a small fortune year after year. If you have a few minutes, compare prices to find cheaper auto insurance for homeowners.