How much is homeowners insurance in Spokane, MO

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In Spokane, homeowners pay an average annual rate of $3,905 (for the coverage level of $300,000 for dwelling, $100,000 for liability protection, and $1,000 deductible), according to Insure.com’s rate analysis. It’s $1,323 more than the national average of $2,582.

Homeowners insurance rates change from one home to another. The home insurance premium in Spokane depends on various factors, such as:

• Size of your home
• Age of your home
• Amount of coverage you need
• Location
• Your credit score

To ensure you secure the best homeowners insurance policy, compare quotes from multiple insurers, enabling you to find the right coverage that aligns with your specific requirements.

Read this guide to learn how much homeowners insurance costs monthly in Spokane, what home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Spokane.

How much is homeowners insurance in Spokane per month

Residents of Spokane pay an average of $325 a month for homeowners insurance, as per Insure.com’s rate analysis. It’s $31 more than the state average of $294 and $110 more than the national average for home insurance across the United States.

The cost of your homeowners insurance policy in Spokane may change based on location, property value, and selected coverage options.

How much is homeowners insurance for a $200,000 house in Spokane

In Spokane, MO, homeowners pay an average of $2,864 annually for a $200,000 house. The amount you pay for home insurance each year depends on factors such as – natural disasters or events within your locality.

Some regions are more at risk for natural disasters, like floods, hurricanes, or tornadoes, implying higher rebuilding rates in these areas are higher, resulting in higher insurance premiums. It’s essential to note that your insurance policy might not cover damages caused by floods or hurricanes. If you reside in an area prone to flooding, consider buying flood insurance.

How much is homeowners insurance for a $300,000 house in Spokane

Based on a rate analysis conducted by Insure.com, Spokane residents pay an average of $3,905 per year to insure a home for coverage limits of $300,000 dwelling, $100,000 liability with a $1,000 deductible. If you plan to increase your dwelling coverage from $200,000 to $300,000, you must pay an additional $1,041 per year for home insurance.

Buying adequate insurance to cover the entire expense of rebuilding your home is best advisable. However, the amount of dwelling coverage you need may vary depending on your home’s size, amenities, and the cost of living in your area.

How much is homeowners insurance in Spokane by company

Among the carriers analyzed, Auto Club Enterprises (AAA) is the most affordable homeowners insurance company in Spokane, offering an average annual rate of $2,176, while State Farm ranks second.

Researching a company thoroughly before selecting a homeowners insurance policy is essential. Insure.com has meticulously reviewed all insurance companies operating in Spokane and compiled a list of the most affordable options.

Below are the details of home insurance companies in Spokane and their average annual premiums.

Common natural disasters in Missouri that may affect home insurance

Natural disasters are unpredictable events that can cause significant damage to homes and property. Understanding these risks is important to ensure that your home insurance policy provides adequate protection in the event of a disaster.

Heat wave, Ice storm and Winter weather are some of the common natural disasters in Missouri that may influence your home insurance rates.

How home insurance protects you against natural disasters

Home insurance plays an important role in safeguarding your property and belongings from the financial burden caused by natural disasters. While standard policies usually cover damages from events like windstorms, hail and lightning, certain disasters, such as floods, earthquakes and wildfires, require additional coverage.

These types of damage are generally not included in a standard home insurance policy, so homeowners must purchase separate flood or earthquake insurance to be fully protected.

Home insurance can cover repair costs for structural damage, replace lost or damaged belongings and provide funds for temporary living arrangements if your home is rendered uninhabitable. This coverage offers financial support, helping homeowners recover more quickly from the impacts of natural disasters.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Spokane for $300,000 dwelling coverage and $100,000 liability coverage with a $1000 deductible. The data presented are those with a good credit tier alignment.

Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

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