By: Hemanth Ramesh September, 06, 2019
According to Gavop research, homeowners in Seattle, Washington, pay an average homeowner's insurance rate of $1,260 per annum, which is slightly higher than the national average of $1,228. The typical home value in Seattle is around $381,000.
Seattle reports about 371 homes valued at less than $50,000. These homeowners pay an average homeowner's insurance rate of $37 per annum.
One-bedroom homes in Seattle have an average home value of around $115,500 and an estimated replacement value of $100,000. Gavop recommends that Seattle homeowners with one-bedroom homes opt for home insurance coverage between $100,000 and $125,000. Two-bedroom homes are typically valued at $214,000 and have a replacement value of $190,000. For these homeowners, Gavop recommends home insurance coverage between $200,000 and $250,000.
Three-bedroom homes have a typical home value of $224,500 and a replacement value of $180,000. Gavop recommends homeowners insurance coverage between $200,000 and $250,000 for three-bedroom homes in Seattle.
Seattle homes valued at less than $200,000 pay an average homeowner's insurance rate of $176.
Four-bedroom homes in Seattle cost about $321,500 and report an estimated replacement value of $300,000. Gavop recommends insurance coverage between $250,000 and $300,000 for these homeowners.Seattle homeowners with homes valued less than $300,000 incur an average homeowner's insurance rate of $371 per annum.
A five-bedroom home in Seattle is estimated at $683,500 and has a replacement cost of $590,000. The recommended homeowner's insurance coverage for these homes is between $500,000 and $600,000.
Homeowners with homes valued at more than $300,000 incur an average homeowner's insurance rate of $573 per annum.
The average claim cost for water damage in Seattle is about $5,975, while hail and wild damages cost about $4,900 and $6,624. Claims related to fire and smoke are typically much more expensive at $46,016 and $17,389.
Hemanth Ramesh works as a writer for Gavop. He has previously written content for film promotions, start-ups, advertising agencies and event management firms. Hemanth Ramesh completed his MA in Journalism and Mass Communication from The English and Foreign Languages University. His other passion includes script writing.