Tacoma, WA homeowners insurance is nearly $506 to $685, about $42-$57/month. Our exhaustive guide indicates shoppers can save as much as $238 by getting many quotes. Enter your zipcode below and click “GO” to get multiple free quotes.
homeowners are paying an average of $1415 in home insurance each year. Factors that affect the cost of a policy include coverage type, deductible and age or material used to build your house. In general it is difficult to compare rates across providers since premiums can vary significantly based on factors like the amount you want covered (coverage) and how willing you are to pay out-of-pocket costs before receiving any compensation from your insurer (deductible).Below is the summary of average home insurance costs available to Tacoma Homeowners based on the coverage and other variables.
Tacoma, Home Insurance Cost for different Deductibles.
Homeowners can buy cheap home insurance rates based on the coverage. The amount that is covered for an individual by their service provider, correlates to how much they want to be cover and higher amounts of coverage come with a cost; meaning homeowners will have higher monthly premiums if they choose more protection from their insurer. Tacoma homeowners paying a coverage of $1,00,000 can avail of home insurance for $277.69 . Homeowners receive insurance for $1584.85 and $2028.61, respectively, on coverages $400,000 and $500,000.
There are many ways to save money on home insurance, and choosing a high deductible is one of the easiest. Homeowners in Tacoma can get $533 worth of coverage for as little as $2500 with an attractive discount available by opting for higher deductibles.Homeowners receive insurance for $568 and $625 respectively, on deductibles $2000 and $1500.
When it comes to home insurance, new developments are often cheaper and more common than older homes. This is especially true in Tacoma where newly constructed houses can avail lower insurance rates because newer buildings have a lesser threat of damage from potential events like fire or theft. As a result, home-insurance companies offer substantial discounts for recently built properties. For Instance newly constructed Tacoma homes can avail lower insurance of $1061 since newly built homes have a lesser threat of damage. As a result, home insurance companies offer substantial discounts to newly constructed homes. On the other hand, older homes attract higher insurance rates, since they are more prone to damage. As a result, Tacoma homes older than 40 and 50 years receive an additional cost of $762 and $771, respectively.
The house's construction type is considered an integral factor in determining the cost of home insurance by insurance companies. The more resistant your house is to damage, the less is the average insurance cost.For example, if the house is built with a fire-resistive, homeowners in Tacoma can avail of the insurance for an average cost of $639. Insurance companies in Tacoma offer home insurance for $706 for homes built with Masonry and Brick. Homes constructed with superior and hail resistant roofs attract a higher amount $676 and $721 respectively.
Apart from the standard features that insurance companies look for when determining rates, homeowners can get cheap home insurance rates from their providers based on the security features they have.Homeowners with good security features or seniors in the household will be offered lower prices for their coverage.
In Tacoma, Washington, homeowners pay an average home insurance rate of $743, which is almost half of the national average premium of $1,438. Tacoma homeowners can narrow down the best home insurance companies by considering various factors. Below are the top 5 home insurance companies in Washington by market share.
State Farm is the most prominent company in Washington, occupying the majority of the market share with 17.01%. The renowned home insurance company has written direct premiums worth $311,354. It has earned direct premiums worth $303,989. State Farm holds a financial strength rating of A++ from A.M. Best for its superior financial capacity to grant potential claims of current Tacoma policyholders. It also received a customer satisfaction score of 4/5 from J.D. Power based on the feedback collected from policyholders.
According to NAIC, Liberty Mutual holds a market share of 13.70% in Washington. The home insurance company has direct premiums written worth $250,842, and direct premiums earned worth $242,419. A.M. Best rated Liberty Mutual with an A for its excellent ability to grant potential claims of current policyholders. In terms of overall customer satisfaction, Liberty Mutual received a score of 3/5 from J.D. Power.
Farmers is another major player in the insurance segment holding a market share of 10.39% in Washington. The company has direct premiums written for a total value of $219,834. It has earned direct premiums worth $216,145. Farmers holds a financial strength rating of A+ for their superior financial ability to grant claims of current Tacoma policyholders. According to customer feedback curated by J.D. Power, Farmers received a customer satisfaction rating of 3/5.
Allstate occupies 9.51% of the home insurance market in Washington. It has written direct premiums of $174,162, and earned direct premiums of $171,396. Allstate has the superior financial ability in granting potential claims of current Tacoma policyholders and has been awarded a rating of A+ from A.M. Best. It received a customer satisfaction score of 3/5 from J.D. Power’s customer feedback survey.
Even though USAA only offers its services to veterans, active, and retired military personnel, it has managed to hold a market share of 8.61%. It has direct premiums written worth $157,564, and direct premiums earned worth $151,660. USAA is the only home insurance company other than State Farm to receive a financial strength rating of A++ for its superior financial ability in granting claims of current Tacoma policyholders. It also holds a perfect customer satisfaction score of 5/5 from J.D. Power.
|Tacoma, WA Home Value||Total Homes||% of Total||Average Tacoma, WA Homeowners Insurance|
|Less than $50,000||4,517||5.0%||$59|
|$100,000 to $124,999||2,951||3.0%||$274|
|$125,000 to $149,999||4,112||5.0%||$345|
|$150,000 to $174,999||8,771||11.0%||$405|
|$175,000 to $199,999||9,382||11.0%||$470|
|$200,000 to $249,999||19,665||24.0%||$566|
|$250,000 to $299,999||14,861||18.0%||$691|
|$300,000 to $399,999||13,295||16.0%||$882|
|Home Insurance Company Near Tacoma, WA||Homeowners Insurance Agency Near Tacoma, WA||Address|
|Travelers||All Pro Risk Management Inc||3047 78TH AVE SE STE 202, MERCER ISLAND, WA, 98040|
|Farmers||Darren Balmores||15 S Grady Way Ste 110, Renton, WA, 98057|
|Travelers||Superior Underwriters Inc A Div Of Groninger||2027 152ND AVE NE, REDMOND, WA, 98052|
|Liberty Mutual Independent||Trc Insurance||12015 115TH AVE NE STE 240, KIRKLAND, WA, 98034|
|State Farm||Tyler Mcclung||2022 Meridian Ave E, Edgewood, WA, 98371-1018|
|Streets in Tacoma Area||Homeowners Insurance Cost|
|Carmel Ln NE, Chambers St, E Homestead Ave, Martin Luther King Jr Way, Maywood St, 6th St E, 8th Ave, 141st Street Ct S, Holly Hedge Ln SW, View St W||$582|
|79th St SW, Glenelg St, 66th Ave Ct W, 103rd St S, S Gove St, S American Lake Blvd, Division Ln, 107th Street Ct S, 19th Ave Ct S, E 75 St||$584|
|56th Avenue Ct SW, Gordon Chesney Rd, Garfield St, N C St, N Freemont Cir, 26th St W, Sharon St SW, 16th Avenue Ct E, Broadway Plz, Harbor Ridge Rd NE||$600|
|75th Avenue Ct W, E 50th St, Arrowhead Rd SW, 68th Stct W, 74th St W, 10th Ave Ct S, S Wright Ave, N 47th St, N 36th St, Mount Rainier Blvd S||$578|
|176th Street Ct E, S 23rd St, N Lexington St, 59th Street Ct E, Manor Dr, N 14th St, Westridge Ave W, Interlaaken Dr SW, 173rd St S, 70th Ave Ct W||$603|
|N Vista View Dr, Lakewood Dr W, Nyanza Ln SW, Cheyenne Loop Rd S, Oak Park Dr SW, 18th Avct E, N E 58th St, 4th Ave Ct E, 68th St E, N 43rd St||$593|
|49th St W, 7th Street Ct E, N 43rd St, N L St, Dash Point Blvd NE, Industry Dr E, Broadmoor Dr NE, 14th Avenue Ct E, 34th Avct S, 79th Stct E||$606|
|S Stevens St, 38th Ave SW, 50th Street Ct W, 115th St Ct E, E 53rd St, 82nd St Ct, Ruby Dr SW, Marti St, S Geiger Cir, Willow Ln W||$607|
|112th Ave SW, N C St, 63rd Street Ct W, Butte Dr SW, E 66th St, St Paul Ave, Duryea Ln S, Todd Rd NE, E Division Ct, 99th Street Ct||$589|
|Madrona Dr NE, Madison St E, 100th Street Ct E, 15th Ave S, Ward St, 70th Avenue Ct SW, 87th St S, N Alder St, Violet Meadow St S, 113th St SW||$592|
|Place||Savings For Senior Occupied Homes|
|Tacoma||$89 to $91|
|Place||1 Car Bundle Savings On Insurance||2 Car Bundle Savings On Insurance||3 Car Bundle Savings On Insurance|
|Midland CDP, Washington||$88||$117||$176|
|Fircrest city, Washington||$92||$122||$183|
|Waller CDP, Washington||$90||$120||$180|
|Place||Home insurance as a % of housing cost for homes with mortgage||Home insurance as a % of housing cost for homes without mortgage|
|Tacoma Home By Monthly Rent||Total Homes||% of Total||Estimated Monthly Income To Afford Rented House Including Renters Insurance|
|Less than $200||1,286||1.0%||$344|
|$200 to $299||1,330||1.0%||$794|
|$300 to $499||2,973||3.0%||$1244|
|$500 to $749||16,989||22.0%||$1919|
|$750 to $999||22,853||30.0%||$2669|
|$1,000 to $1,499||19,875||26.0%||$3794|
|$1,500 or more||9,732||12.0%||$5444|
|Zip Code||Median Home Value||Median Homeowners Insurance|
|Low Deductible||High Deductible|
|Yearly Tacoma Homeowner Insurance Premium Example||$1,400||$900|
|Out of Pocket Expense During Claim||$1,200||$3,200|
|Total Home Insurance Premium for 6 years + Out of Pocket Expense for Claim||$9,600||$8,600|
|Net Savings to Tacoma Home Owner from High Deductible Plan||$1,000|
|Scenario||Tacoma, WA Home Replacement Value MORE than Home Value||Tacoma, WA Home Replacement Value LESS than Home Value|
|Insurance Premium based on Replacement Value||$800||$550|
|Risk Exposure from Under Insuring Coverage||Unnecessary Home Insurance Coverage of $44,500||Risk Exposure from Under Insuring Coverage is $24,000|
|Premium Impact||Insurance cheaper by $100/year||Insurance costlier by $150/year|
|Insurance Company||Chubb Group of Insurance||State Farm||Amica Mutual Insurance Company|
|Home Details||3 Beds, 1 Baths||5 Beds, 4 Baths||2 Beds, 1 Baths|
|Deductible||$1000-$2500 Deductible||$2500-$5000 Deductible||$2500-$5000 Deductible|
|Year Built||Home Value||Roof Type||Sqft||Number of Bedrooms||Deductible||Premium||Premium Months||Siding Type||Smoker/Non Smoker|
|2013||260,000||Slate Shingles Roof||2,000||5||$1000-$2500 Deductible||120||2||Fiber-Cement Siding||yes|
|1960||315,000||Asphalt Shingles Roof||2,760||4||$500 Deductible||490||7||Stucco siding||No|
|1993||230,000||Composition Roof||1,660||2||$500 Deductible||430||7||Fiber-Cement Siding||No|
|1964||180,000||Composition Roof||1,470||2||$5000 to $10,000 Deductible||70||3||Vinyl siding||yes|
|2000||235,000||Asphalt Shingles Roof||2,210||3||> $10,000 Deductible||220||9||Stucco siding||No|
|1940||285,000||Composition Roof||1,850||4||$500- $1000 Deductible||440||6||Wood siding||No|
|2009||230,000||Membrane Roof||2,050||3||$500- $1000 Deductible||450||10||Wood siding||yes|
|1965||190,000||Metal Roof||1,750||2||$500 Deductible||560||10||Fiber-Cement Siding||yes|
|1971||180,000||Wood Shake Roof||1,350||2||$1000-$2500 Deductible||30||1||Brick siding||yes|
|1964||155,000||Membrane Roof||1,390||2||$1000-$2500 Deductible||340||12||Stucco siding||yes|
|1942||535,000||Membrane Roof||3,580||5||$5000 to $10,000 Deductible||540||5||Wood siding||yes|
|1983||220,000||Slate Shingles Roof||1,530||2||$500- $1000 Deductible||360||8||Wood siding||No|
|2000||135,000||Membrane Roof||1,010||2||$1000-$2500 Deductible||40||1||Stone Siding||yes|
|1949||245,000||Wood Shake Roof||2,160||5||$2500-$5000 Deductible||350||10||Fiber-Cement Siding||No|
|1984||310,000||Slate Shingles Roof||2,280||5||$2500-$5000 Deductible||560||10||Brick siding||yes|
|2000||460,000||Composition Roof||4,060||5||$1000-$2500 Deductible||220||3||Stone Siding||No|
|1971||180,000||Slate Shingles Roof||1,630||4||$1000-$2500 Deductible||390||9||Wood siding||No|
|1980||145,000||Composition Roof||1,200||2||$1000-$2500 Deductible||190||8||Fiber-Cement Siding||yes|
|2002||160,000||Wood Shake Roof||1,360||2||$5000 to $10,000 Deductible||60||2||Wood siding||No|
|1983||205,000||Shingles Roof||1,920||3||$5000 to $10,000 Deductible||90||3||Wood siding||yes|
|2014||205,000||Slate Shingles Roof||1,460||2||$2500-$5000 Deductible||140||3||Fiber-Cement Siding||yes|
|2012||265,000||Shingles Roof||2,620||4||$500- $1000 Deductible||270||5||Fiber-Cement Siding||No|
|2010||250,000||Asphalt Shingles Roof||1,900||3||$2500-$5000 Deductible||240||5||Stucco siding||No|
|1990||220,000||Wood Shake Roof||1,600||2||> $10,000 Deductible||50||2||Stucco siding||No|
|1944||530,000||Composition Roof||4,600||5||$5000 to $10,000 Deductible||790||10||Wood siding||yes|
|1948||350,000||Composition Roof||2,340||3||$2500-$5000 Deductible||370||5||Fiber-Cement Siding||No|
|2013||135,000||Shingles Roof||1,270||2||$500 Deductible||180||8||Fiber-Cement Siding||yes|
|1962||375,000||Membrane Roof||2,460||5||$5000 to $10,000 Deductible||770||10||Vinyl siding||No|
|1986||135,000||Shingles Roof||1,000||2||$500- $1000 Deductible||150||4||Fiber-Cement Siding||No|
|2000||17,700,000||Tile Roof||2,229||4||$500 Deductible||8630||3||Wood siding||yes|