Do NOT Buy Washington State Renters Insurance Until You Read This….
The Ultimate Guide to Renters Insurance in Washington State
Should I Get Renters Insurance in Washington?
If you could foresee the future and knew for certainty you would would lose property to a fire or theft, or you would be sued for bodily injury then renters insurance would definitely be worth it.
Unfortunately, life is unpredictable. What we know for sure is there are renters in Washington State who have lost property to fire, theft, water damage, or have been held liable to another person.
Everyone of those victims wish they could go back in time and buy renters insurance.
This is the more complicated method risk managers use to determine whether or not to mitigate risk with insurance:
Renters Insurance Risk = Threat x Vulnerability x Cost
Threat = Frequency of potentially adverse events
Vulnerability = Likelihood of success of a particular threat category against property or person
Cost = Total cost of the impact of a particular threat experienced by a vulnerable target
Practical risk formula application:
Example 1: Losing your cell phone
Probability of total loss: 10%
Cost of phone: $600
10% x $600 = $60
Cost to insure to $120/yr for a risk of $60.
Example 2: Apartment fire destroys all your stuff
Probability of total loss: 1%
Cost of all your stuff: $25,000
1% x $25,000 = $2,500
Cost to insure to $150/yr for a risk of $2,500.
Conclusion: renters insurance is more worth it then cell phone insurance but your mileage may vary on the following factors:
- What is the likelihood of a fire in your Washington apartment or home?
- How quickly will the Washington fire department respond?
- What protective measures does your apartment provide? (Sprinklers, guards, cameras, keycards, ect)
- What is the likelihood of a theft to your property in Washington, or when you are traveling with expensive items?
- How likely are the police in Washington going to recover your stolen items?
- How much is your stuff worth?
FACT: Less then 35% of renters in Washington have renters insurance.
Here are some example of residents in Washington who in hindsight did wish they had purchased renters insurance. You don't want to be on this list!
Examples of Renters in Washington Who Did Not Have Renters Insurance and Lost Everything
Lakeside Landings Apartment in Tacoma Destroys 12 Units
TACOMA, WA — No injuries were reported in an apartment fire in Tacoma, but the property of the residents in all 12 units was destroyed. Tacoma Fire Department found smoke and fire bellowing from the bottom corner apartment at the Lakeside Landing Apartments at about 6:15 p.m. The fire grew quickly and soon engulfed the entire building. One female resident nearly lost her life but was saved by the firefighters who broke a window and pulled her to safety. All 12 units were destroyed.
Bellingham Fire Destroys 12 Units and Leaves 27 People Homeless
BELLINGHAM, WA - A fire broke out in the middle of the day and destroyed 12 units and left 27 people with nowhere to sleep. Fortunately no one was injured. One women barely escaped with her 20 month old son.
What is Washington Renters Insurance?
We were recently asked by someone interested in becoming a policyholder, "What is the definition of Washington renters insurance?"
First, I will provide the technical definition that you would find in the Washington renters insurance policy that is written by insurance lawyers. Secondly, I will explain it so everyone who has not gone to law school can understand.
Washington Renters Insurance Definition:
A form of property insurance that provides coverage for a policy holder’s belonging, liability, and loss of use within a rental property. Renter’s insurance pertains to individuals renting or subletting a single family home, apartment, duplex, condo, studio, loft or townhome in the state of Washington.Renters Insurance Lawyer, Washington
Most people think of renters insurance as the money to replace your stuff that is destroyed, or stolen. For the most part that is true but it only applies to certain losses, or perils defined by the renters insurance policy and subject to your deductible.
Renters Insurance Deductible:
A renters insurance deductible is the amount of you are responsible for paying of the covered personal property loss located in Washington. Renters insurance deductibles typically range from $500 to $2,000. The higher your deductible, the lower your annual premium.Renters Insurance Lawyer, Washington
What Does Washington Renters Insurance Cover?
Renters Insurance policy is also referred to as HO-4 and covers damage and loss of property from the following perils or risks:
- Fire or lightning
- Windstorm or hail
- Riot or civil commotion
- Damage caused by aircraft
- Damage caused by vehicles
- Vandalism or malicious mischief
- Volcanic eruption
- Falling objects
- Weight of ice, snow, or sleet
- Accidental discharge or overflow of water or steam from within a plumbing, heating, air conditioning, or automatic fire-protective sprinkler system, or from a household appliance
- Sudden and accidental tearing apart, cracking, burning, or bulging of a steam or hot water heating system, an air conditioning or automatic fire-protective system
- Freezing of a plumbing, heating, air conditioning or automatic, fire-protective sprinkler system, or of a household appliance
- Sudden and accidental damage from artificially generated electrical current (does not include loss to a tube, transistor or similar electronic component)
What renters insurance won’t cover
Just as with home insurance policies, renters insurance won’t cover damage from “earth movement,” which includes earthquakes, mudslides and landslides.
Also typically excluded are:
- Nuclear hazard
- Neglect, meaning your failure to save your property at the time of loss or after.
- Intentional loss, meaning your intentional destruction of your property.
- Governmental action, such as seizure of your property.
In some coastal regions you might need to buy additional coverage for wind damage from hurricanes.
What Are the Coverages Included on HO-4 Washington Renters Insurance Policy?
- You choose the amount of coverage based on the value of everything you own.
- Your property is covered anywhere in the world.
- You stuff is protected from all the hazards listed above.
- Renters insurance protects you from lawsuits where you are responsible for someone’s bodily injury or property damage resulting from an accident, negligent acts, or pets.
- For example, a guest trips down your stairs and sues you.
- Coverage includes costs to hire an attorney to defend you against lawsuits brought against you.
Sometimes called guest medical because it is not for you or family members. Pays for medical costs for accidents regardless of who is at fault.
Additional Living Expenses
If the home or apartment you are renting becomes uninhabitable due to a covered loss, you will be forced to live elsewhere while it is being repaired. Your Renters policy will pay for the housing and food for up to 12 to 24 months.
How to Determine the Cost of Renters Insurance in Washington?
The good news is that apartment renters insurance is a very low-cost investment to make in both peace of mind and financial protection. Even better news is that some very simple factors can further reduce the low cost of renters insurance.
To simplify this process, we specialize in finding the best available rates on low-cost apartment renters insurance. We work to provide every client with the most affordable premiums possible and the most reliable and effective coverage by determining just how many of these factors can be used to adjust premium costs for the insured.
Your Renters Insurance Claim History and Credit Score Effect the Price
The first factor that may result in comparatively low-cost apartment renters insurance is claim history and financial scores.
It stands to reason that those who have few or no previous claims should be rewarded with lower premiums. If your current carrier is not rewarding you for this, call the insurance firm and let them try to help you.
Also, if you have excellent credit and feel you are paying too much on your premiums, you may very well be. They will be happy to offer their professional opinion of what the market has to offer and see if they can reduce your rate through their sources.
They can also look into the possibility of offering you renters insurance at low cost if you live in a dwelling occupied by at least one adult during the day. Stay at home mothers and fathers should especially take note of this benefit and check to see if they qualify for a discount.
Your Washington Apartment Location Effect Your Renters Insurance Rates
Your Washington location also helps determine premium rates for low-cost rentals renters insurance if the complex features security measures that reduce the likelihood of property crime.
Gated communities and recently built loft rentals feature floor plans and outdoor/indoor access points that make breaking into an apartment extremely difficult, if not impossible.
As rentals tend increasingly toward long-term residences with all the amenities and benefits of a purchased home, security measures also increase within these rental communities. Many newer lofts and condominiums feature centrally monitored alarm systems and local burglar alarms. If you live in such a building, you may very well find that average cost of renters insurance per month is low.
Renters insurance firm can quickly determine if you qualify for apartment renters insurance at a lower cost by asking you a series of very short and simple questions about the nature of your security system.
Once they determine the basics, they will then work to determine the best policies and rate combinations for renters insurance at affordable rates and find you the very best coverage and premium options the market can bear. In addition to the overall low cost of apartment renters insurance, most policies now extend coverage to include protection against identity theft.
As criminals today will utilize a social security number or credit card number if they can obtain it, they seek to further protect their insured by offering this indemnity against potential credit ruination and fraudulent practices.
Most renters insurance firms have diligently worked with the people and can provide them the very best and most affordable coverage through a wide range of underwriting and claim experience. Now, with low-cost insurance for apartment renters and those renting houses, tenants can enjoy more protection at more affordable rates than ever before.
How to Determine the Cheapest Renters Insurance in Washington?
The total amount you would like to insure your possessions for plays an essential part when insurance rates are calculated. All valuable items in your property should be listed in inventory for future reference. When you renew your policy take into account the increased or decreased value of some items.
The following advice can assist to determine which renters insurance company is the cheapest and importance:
1. Choose higher deductible - Your rates are going to be cheaper if you have a higher deductible. The amount you pay might be lowered by 12% if your deductible is $500. Remember to limit your insurance deductible at a figure you're comfortable with, and you can pay in the even of a claim.
2. More protection against fire - Having safety devices like smoke alarms, a fire extinguisher of even a sprinkler system in your home will score you big points with insurers. Thoughtful renters are seen as less of a risk.
3. Security - very inexpensive way to increase security is adding features like deadbolts. Burglar alarms and motion sensors are very useful too. You will feel safer and pay less for renters insurance at the same time
4. Check for discounts - asking costs you nothing. Combining insurance policies or insuring long term will mean big savings. To win new customers, many insurance companies offer discounts.
5. Compare quotes - home renters who want to save on insurance must compare their rates. Getting quotes from at least 3 different companies is what insurance expert recommend. By doing it online, you can save a lot of time and money.
Look after yourself and your valuables by purchasing cheap home renters insurance that will cover the contents of an apartment or home that you'll be renting. It's quick and easy to compare the cost and coverage with leading home insurance companies across the country.
Make sure to go with a low cost and established Washington renters insurer when choosing an insurance policy. This protects you against any surprises should the unfortunate need arise.
How to Compare a Washington Renters Insurance Quote
The following are the steps and questions you should ask yourself when looking for a Washington renters insurance quote online.
What is renters insurance?
Renters insurance pays for loss or damage to your personal property such as jewelry, clothing, electronic equipment, collections, and furniture. It covers losses caused by vandalism, water damage, fire, theft, and acts of nature excluding floods and earthquakes.
Your policy will pay your living expenses if you need to live somewhere else when your home becomes uninhabitable due to fire, water damage, or other reasons.
It also pays for a visitor's medical expenses if they hurt themselves in your home, and pays for judgments and legal expenses if they sue you.
How much property do I want insured?
To find out how much renters insurance coverage you need, take inventory of all your personal possessions.
Make a list of each item, and it's value. Include serial numbers and save receipts if you have them. Take pictures of your possessions and keep them with your inventory list in a fireproof place.
Sum up all the total value of all your possessions to get the amount of coverage you need to replace them.
Where can I get cheap renters insurance quotes online?
The difference in premiums for renters insurance can vary by hundreds of dollars from one company to the next, so it pays to use our quote form for the best price.
The easiest way to shop for renters insurance is to use our insurance comparison website where you'll get quotes from multiple insurance companies. All you do is fill out a simple questionnaire and wait to get quotes.
You can even call us to ask an insurance expert any question you may have about renters insurance.
Washington Landlords that Require Renters Insurance
Please click on the city pages below to see which apartments require renters insurance.
|Renters Insurance Aberdeen WA|
|Renters Insurance Airway Heights WA|
|Renters Insurance Algona WA|
|Renters Insurance Anacortes WA|
|Renters Insurance Arlington WA|
|Renters Insurance Asotin WA|
|Renters Insurance Auburn WA|
|Renters Insurance Bainbridge Island WA|
|Renters Insurance Battle Ground WA|
|Renters Insurance Bellevue WA|
|Renters Insurance Bellingham WA|
|Renters Insurance Benton City WA|
|Renters Insurance Bingen WA|
|Renters Insurance Black Diamond WA|
|Renters Insurance Blaine WA|
|Renters Insurance Bonney Lake WA|
|Renters Insurance Bothell WA|
|Renters Insurance Bremerton WA|
|Renters Insurance Brewster WA|
|Renters Insurance Bridgeport WA|
|Renters Insurance Brier WA|
|Renters Insurance Buckley WA|
|Renters Insurance Burien WA|
|Renters Insurance Burlington WA|
|Renters Insurance Camas WA|
|Renters Insurance Carnation WA|
|Renters Insurance Cashmere WA|
|Renters Insurance Castle Rock WA|
|Renters Insurance Centralia WA|
|Renters Insurance Chehalis WA|
|Renters Insurance Chelan WA|
|Renters Insurance Cheney WA|
|Renters Insurance Chewelah WA|
|Renters Insurance Clarkston WA|
|Renters Insurance Cle Elum WA|
|Renters Insurance Clyde Hill WA|
|Renters Insurance Colfax WA|
|Renters Insurance College Place WA|
|Renters Insurance Colville WA|
|Renters Insurance Connell WA|
|Renters Insurance Cosmopolis WA|
|Renters Insurance Covington WA|
|Renters Insurance Davenport WA|
|Renters Insurance Dayton WA|
|Renters Insurance Deer Park WA|
|Renters Insurance Des Moines WA|
|Renters Insurance DuPont WA|
|Renters Insurance Duvall WA|
|Renters Insurance East Wenatchee WA|
|Renters Insurance Edgewood WA|
|Renters Insurance Edmonds WA|
|Renters Insurance Electric City WA|
|Renters Insurance Ellensburg WA|
|Renters Insurance Elma WA|
|Renters Insurance Entiat WA|
|Renters Insurance Enumclaw WA|
|Renters Insurance Ephrata WA|
|Renters Insurance Everett WA|
|Renters Insurance Everson WA|
|Renters Insurance Federal Way WA|
|Renters Insurance Ferndale WA|
|Renters Insurance Fife WA|
|Renters Insurance Fircrest WA|
|Renters Insurance Forks WA|
|Renters Insurance George WA|
|Renters Insurance Gig Harbor WA|
|Renters Insurance Gold Bar WA|
|Renters Insurance Goldendale WA|
|Renters Insurance Grand Coulee WA|
|Renters Insurance Grandview WA|
|Renters Insurance Granger WA|
|Renters Insurance Granite Falls WA|
|Renters Insurance Harrington WA|
|Renters Insurance Hoquiam WA|
|Renters Insurance Ilwaco WA|
|Renters Insurance Issaquah WA|
|Renters Insurance Kahlotus WA|
|Renters Insurance Kalama WA|
|Renters Insurance Kelso WA|
|Renters Insurance Kenmore WA|
|Renters Insurance Kennewick WA|
|Renters Insurance Kent WA|
|Renters Insurance Kettle Falls WA|
|Renters Insurance Kirkland WA|
|Renters Insurance Kittitas WA|
|Renters Insurance La Center WA|
|Renters Insurance Lacey WA|
|Renters Insurance Lake Forest Park WA|
|Renters Insurance Lake Stevens WA|
|Renters Insurance Lakewood WA|
|Renters Insurance Langley WA|
|Renters Insurance Leavenworth WA|
|Renters Insurance Liberty Lake WA|
|Renters Insurance Long Beach WA|
|Renters Insurance Longview WA|
|Renters Insurance Lynden WA|
|Renters Insurance Lynnwood WA|
|Renters Insurance Mabton WA|
|Renters Insurance Maple Valley WA|
|Renters Insurance Marysville WA|
|Renters Insurance Mattawa WA|
|Renters Insurance McCleary WA|
|Renters Insurance Medical Lake WA|
|Renters Insurance Medina WA|
|Renters Insurance Mercer Island WA|
|Renters Insurance Mesa WA|
|Renters Insurance Mill Creek WA|
|Renters Insurance Millwood WA|
|Renters Insurance Milton WA|
|Renters Insurance Monroe WA|
|Renters Insurance Montesano WA|
|Renters Insurance Morton WA|
|Renters Insurance Moses Lake WA|
|Renters Insurance Mossyrock WA|
|Renters Insurance Mount Vernon WA|
|Renters Insurance Mountlake Terrace WA|
|Renters Insurance Moxee WA|
|Renters Insurance Mukilteo WA|
|Renters Insurance Napavine WA|
|Renters Insurance Newcastle WA|
|Renters Insurance Newport WA|
|Renters Insurance Nooksack WA|
|Renters Insurance Normandy Park WA|
|Renters Insurance North Bend WA|
|Renters Insurance North Bonneville WA|
|Renters Insurance Oak Harbor WA|
|Renters Insurance Oakville WA|
|Renters Insurance Ocean Shores WA|
|Renters Insurance Okanogan WA|
|Renters Insurance Olympia WA|
|Renters Insurance Omak WA|
|Renters Insurance Oroville WA|
|Renters Insurance Orting WA|
|Renters Insurance Othello WA|
|Renters Insurance Pacific WA|
|Renters Insurance Palouse WA|
|Renters Insurance Pasco WA|
|Renters Insurance Pateros WA|
|Renters Insurance Pomeroy WA|
|Renters Insurance Port Angeles WA|
|Renters Insurance Port Orchard WA|
|Renters Insurance Port Townsend WA|
|Renters Insurance Poulsbo WA|
|Renters Insurance Prescott WA|
|Renters Insurance Prosser WA|
|Renters Insurance Pullman WA|
|Renters Insurance Puyallup WA|
|Renters Insurance Quincy WA|
|Renters Insurance Rainier WA|
|Renters Insurance Raymond WA|
|Renters Insurance Redmond WA|
|Renters Insurance Renton WA|
|Renters Insurance Republic WA|
|Renters Insurance Richland WA|
|Renters Insurance Ridgefield WA|
|Renters Insurance Ritzville WA|
|Renters Insurance Rock Island WA|
|Renters Insurance Roslyn WA|
|Renters Insurance Roy WA|
|Renters Insurance Royal City WA|
|Renters Insurance Ruston WA|
|Renters Insurance Sammamish WA|
|Renters Insurance SeaTac WA|
|Renters Insurance Seattle WA|
|Renters Insurance Sedro-Woolley WA|
|Renters Insurance Selah WA|
|Renters Insurance Sequim WA|
|Renters Insurance Shelton WA|
|Renters Insurance Shoreline WA|
|Renters Insurance Snohomish WA|
|Renters Insurance Snoqualmie WA|
|Renters Insurance Soap Lake WA|
|Renters Insurance South Bend WA|
|Renters Insurance Spangle WA|
|Renters Insurance Spokane WA|
|Renters Insurance Spokane Valley WA|
|Renters Insurance Sprague WA|
|Renters Insurance Stanwood WA|
|Renters Insurance Stevenson WA|
|Renters Insurance Sultan WA|
|Renters Insurance Sumas WA|
|Renters Insurance Sumner WA|
|Renters Insurance Sunnyside WA|
|Renters Insurance Tacoma WA|
|Renters Insurance Tekoa WA|
|Renters Insurance Tenino WA|
|Renters Insurance Tieton WA|
|Renters Insurance Toledo WA|
|Renters Insurance Tonasket WA|
|Renters Insurance Toppenish WA|
|Renters Insurance Tukwila WA|
|Renters Insurance Tumwater WA|
|Renters Insurance Union Gap WA|
|Renters Insurance University Place WA|
|Renters Insurance Vader WA|
|Renters Insurance Vancouver WA|
|Renters Insurance Waitsburg WA|
|Renters Insurance Walla Walla WA|
|Renters Insurance Wapato WA|
|Renters Insurance Warden WA|
|Renters Insurance Washougal WA|
|Renters Insurance Wenatchee WA|
|Renters Insurance West Richland WA|
|Renters Insurance Westport WA|
|Renters Insurance White Salmon WA|
|Renters Insurance Winlock WA|
|Renters Insurance Woodinville WA|
|Renters Insurance Woodland WA|
|Renters Insurance Woodway WA|
|Renters Insurance Yakima WA|
|Renters Insurance Yelm WA|
|Renters Insurance Zillah WA|
Washington Auto and Renters Insurance Bundles and Other Discount Startegies
Many insurance companies now offer considerable savings to people who choose to purchase their car insurance coverage from the same company as their renters insurance policy. It makes sense that companies should offer discounts on additional insurance coverage for customers that have established long-term relationships with the company.
The advantages to bundling your insurance policies through a single provider are similar to the combination services offered through many cable service companies today. If you buy Internet service, phone service, and cable television service all separately, you are likely to be paying much more than someone who choose to get all three through a package offered by the cable company.
Aside from the savings you will get by holding all your insurance policies with a single company, there are several other advantages to doing this as well. The convenience of paying just one monthly bill for your insurance versus several to different providers is also a compelling reason to go with one provider. Also, with just a single bill, it is far less likely that you will overlook paying one in any given month.
Now that you have a better idea on how to get your ride insured, let's move on to what renters insurance is and how you can choose the most suitable option for you.
You can find the lowest renters insurance rate if you shop around for several different insurers. Comparing quotes from several companies is a guaranteed way to find the lowest renters insurance rate. Hundreds of people shop around for the lowest prices every day, which has led to this being a fairly simple task. Insurance companies know that the public is concerned with finding the lowest rates, so they make sure that their deals and discounts are highly publicized and easily accessible. After spending a short while on the web and/or on the phone, you can be sure to find the lowest renters insurance rate.
If you are a student living on your own, you should consider Renters insurance for students, which is important for young adults in college that are living away from home. It can cover things like laptops, textbooks, and other personal belongings that are important to a student's life. Parents can have peace of mind knowing that their student's belongings are covered. Before purchasing renters insurance for students, you should asses the value of belongings in the rental property so you end up with the best possible policy.
Washington State Renters Insurance Claim Process Guide
Just remember that if your renters insurance claim isn’t filed properly, it may be denied or you may get a mount that is far less than what you are actually entitled to. The tips discussed below will help you any time you want to file a renters insurance claim.
- Report This Incident to the Relevant Authorities
This is the first step for fire, vandalism, burglary among other trauma. In case you HVAC isn’t working or roof is leaking, reporting to the police may not be necessary but some insurers may send them to your resident. You will have to provide them all the necessary details and later keep a report they leave you after their investigation.
- Inform Your Insurance
You will have to give a call to your insurance company within the time frame set in your policy statement. Have your policy number and all the other details of the entire incident prior to making this call.
- Fill a Claims Form with Your Given Agent
You have to be thorough during this step. Provide all details including what was damaged, how and when. If your claim is small, a filled claim form is just enough. On the other hand, claims involving larger losses may force your agent to send a professional adjuster to thoroughly inspect the damage.
- Document All the Damages
This has to be done before you commence the cleanup process. Either video record or take photographs that depict this damage and include these images in your claim. To be safe, visually document your belongings and home before any eventuality. With this, you can provide your insurer with images of before and after the loss.
- Make Temporal And Minor Repairs To Make The Home Habitable Again
This has to be done based on the guidelines set in your policy statement. Keep all the receipts during this process. Major and permanent repairs can only be done after the completion of your claim and confirmation of your compensation.
- Keep All Receipts Used In Case Of Any Temporal Relocation
You have discus with your agent on the exact ways you will be able to submit all this receipts for reimbursement.
- Be Available
After filing the claim, you not only need to be reachable, but also ready to talk with your claims adjuster and insurance agent. The rate at which your claim is processed depends on your ability to quickly answer questions and provide any additional information.
In a nutshell, all of the steps above must be adhered to strictly. Also, you need to ensure that the claim is filed in a complete and timely manner. All these put together will guaranteed compensation in case you incur any losses.