In Spokane, Washington, homeowners pay an average home insurance rate of $672. This is less than half of the national average premium of $1,438. Spokane homeowners can make use of the discounts offered by home insurance companies to further reduce their home insurance rates. Below are some of the discounts offered to Spokane homeowners.
Newly constructed Spokane homes can avail of discounts of up to $141 on homeowners insurance due to low propensity to damage. As a result, home insurance companies offer substantial discounts to newly built homes. On the other hand, older homes attract higher insurance rates. Spokane homes older than 40 years and 50 years receive an additional charge of $26 and $32, respectively, on home insurance.
Home insurance companies consider the lifestyle of homeowners to determine insurance rates. If all the residents of the household are non-smokers, insurance companies offer special discounts on home insurance rates. Spokane homeowners who own a swimming pool attract an additional insurance cost of up to $40. Installing a fence around the pool with self-latching and self-closing gates will help homeowners get discounts from home insurance companies. Additionally, senior citizens in Spokane also receive discounts on home insurance.
Although most of the factors to avail discounts are not under the control of homeowners, they can benefit most by choosing deductibles to reduce home insurance rates. Homeowners can avail of attractive discounts by opting for higher deductibles. Spokane homeowners opting for a high deductible of $2,500, can avail of a discount of $189 on homeowners insurance. Homeowners receive discounts of $158 and $106, respectively, on deductibles of $2,000 and $1,500. Spokane homeowners can save an average of $600 if they opt for a high deductible of $1,800 instead of a standard deductible of $800 on a lock-in period of 8 years.
Home insurance companies provide discounts to homeowners who have a claims-free history. On the other hand, homeowners with prior claims attract additional home insurance rates. The cost of home insurance in Spokane increases by up to 44% based on the nature and number of claims. Spokane homeowners who have a history of two fire claims and two water claims attract additional insurance rates of $282 and $221, respectively.