Best Homeowners Insurance Agencies in Seattle

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• Do you need additional coverage for earthquake damage in Seattle?

  As Seattle is prone to earthquakes, it is advisable to think about getting extra coverage specifically designed for earthquake damage. This coverage can typically be added as an extension to your current homeowners’ or renters’ insurance, or it can be obtained as a separate policy.

• What's the difference between replacement cost and actual cash value in Seattle's homeowners' insurance?

  In Seattle homeowners’ insurance, the concept of replacement cost value involves compensating you for the expense required to replace damaged belongings with similar items. On the other hand, actual cash value pertains to reimbursement determined by the current diminished value of your possessions.

• Can your insurance company raise your rates after you file a claim in Seattle?

  In Seattle, certain insurers might increase your premiums in response to the frequency of filed homeowners’ insurance claims. In some cases, they might even opt to terminate your coverage if you have already made numerous claims. It’s highly advised to consult your agent to understand how their insurance company manages your claims history.

• Can your homeowners' insurance company cancel your policy without a specific reason in Seattle?

  In Seattle, your homeowners' insurance company cannot terminate your policy without providing a specific reason. They are required to give you a 45-day advance written notice for policy cancellation or non-renewal, while a 10-day notice is mandated for late premium payments. Additionally, the provided explanation for the policy's cancellation or non-renewal must be transparent and understandable.

• Are you covered if someone gets injured on your property in Seattle?

  In Seattle, homeowners’ insurance offers coverage for personal injury situations, including injuries on your property and dog bites both on and off your premises. It comprises liability and medical payments coverage. Note that this coverage is applicable to non-policy individuals who do not live on the property. In such cases, your insurance may cover medical expenses and legal fees if the injured party decides to pursue legal action.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.