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Best cheap homeowners insurance in Spokane

Bridge in Spokane

Spokane, Washington is a growing city in the Pacific Northwest, but the average cost of home insurance is still relatively low. The cost of homeowners insurance in Spokane is $893 per year for a policy for $250,000 in dwelling coverage. That’s cheaper than the Washington average of $948 per year, and significantly cheaper than the national average rate of $1,428 per year for the same amount of dwelling coverage. But you will find that, according to average rates, some insurance companies offer cheaper insurance policies than others. Bankrate’s research into average rate data, which may help you as you start your search for home insurance, has found that some of the cheapest home insurers in Spokane are PEMCO, USAA and Nationwide.


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Quick Facts

average savings through Bankrate
Two Thirds

2 out of 3 homes
are underinsured
Insurance Home

1 out of every 20
insured homes makes a claim each year
Circle Check

100% of homes
need insurance before getting a mortgage

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Best cheap home insurance companies in Spokane

The cheapest home insurance companies in Spokane are PEMCO, USAA and Nationwide, according to average rate data from Quadrant Information Services. After analyzing average rates, we evaluated each insurer and assigned a Bankrate Score out of five points. Bankrate Scores are based on a variety of factors, including average price, financial strength, J.D. Power customer satisfaction scores, online capabilities and more. When comparing cheap companies, using Bankrate Scores to guide your search can help you quickly choose a reputable company that offers more than just the lowest prices.

In the table below, you can see our full list of the cheapest home insurance companies in Spokane, as well as their Bankrate Score, average premium and J.D. Power score.

Home insurance company Bankrate Score Average annual premium for $250K dwelling coverage J.D. Power score
PEMCO Not rated $456 N/A
USAA* 3.7 $645 881/1,000
Nationwide 3.2 $654 812/1,000
Travelers 3.3 $659 790/1,000
Allstate 3.5 $696 809/1,000

*USAA does not qualify for official ranking with J.D. Power due to eligibility restrictions


Based on average rate data from Quadrant, PEMCO has the cheapest home insurance premiums in Spokane. Since the company only provides insurance in Washington and Oregon, not enough data is available for it to be assigned a Bankrate Score, but if price is your biggest concern, it may be worth checking out. PEMCO also offers a variety of potential discounts for even more savings, including discounts for educators (teachers, school administrators and employees), being claim-free, bundling a home and auto policy, having fire sprinklers or an alarm system in your home and a few others. However, one of the downsides of PEMCO is that there aren’t many endorsements offered.


USAA is one of the highest-rated insurance companies on the market, but you can only get home insurance from USAA if you’re an active duty or retired servicemember or have an immediate family member in the Armed Forces. USAA offers low average rates but only a few potential discounts, like policy bundling and being claim-free. One of the perks of USAA is that replacement cost coverage is standard, and policies provide military-specific coverage, like protection for your uniform and military equipment.

Learn more: USAA Insurance review


Nationwide stands out for its optional coverage, which means it might be a good choice if you want to customize your policy. Nationwide offers identity theft coverage, water backup coverage, dwelling replacement cost coverage, brand new belongings coverage, valuables plus coverage, and several others. The company also has a good selection of discount opportunities. There are potential savings for living in a gated community, insuring a newly purchased home, having prior home insurance and being claim-free. However, Nationwide was rated slightly below average by J.D. Power for overall customer satisfaction, so it might not be your first choice if customer service is your number one priority.

Learn more: Nationwide Insurance review


Travelers is another great home insurance provider to consider if you want to add endorsements to your policy. You can get green home coverage, identity fraud coverage, jewelry and valuables coverage, special personal property coverage and several others. Travelers also has a few potential discounts, including 5 percent savings for having a LEED-certified green home. But if you’re looking for an insurer with excellent customer satisfaction, Travelers may not be the best choice. It has the lowest J.D. Power rating out of the Spokane home insurance companies we reviewed.

Learn more: Travelers Insurance review


Allstate offers a good selection of endorsements and discount opportunities for Spokane homeowners. The company has a welcome discount for new customers in addition to a potential loyalty discount, new homebuyer discount, protective device discount and several more. Allstate also offers many unique endorsements, like yard and garden coverage, green improvement reimbursement coverage, musical instruments coverage, sports equipment coverage and others. However, Allstate is rated below average for overall customer satisfaction by J.D. Power, which indicates that some customers are unhappy with their experience with the company.

Learn more: Allstate Insurance review

Home insurance coverage options in Spokane

Standard home insurance policies provide comprehensive protection for many of the losses you might face as a homeowner. However, some perils are not covered. To fill gaps in your home insurance policy, it can be beneficial to add endorsements, which are optional coverage types that you can purchase to enhance your policy. Here are some home insurance endorsements that can be useful to have in Spokane:

  • Water backup coverage: Water backup insurance covers damages that result from water backing up into your home through pipes or drains. Most policies also cover damage that is caused by a sump pump failure or sewer backup.
  • Valuable items coverage: Most home insurance policies provide limited coverage for valuables, like jewelry and art. However, you can add a scheduled personal property endorsement to get more coverage for expensive items.
  • Flood insurance: Because heavy rain and flooding happen often in Washington, getting flood insurance might be a good idea. Basic home insurance excludes coverage for damage caused by floods. The most common way to get flood insurance is through the National Flood Insurance Program (NFIP), but many private insurers also offer flood policies these days. Very few companies offer flood insurance as an endorsement, however, so you will likely need to purchase an entirely separate policy.

Home insurance discounts in Spokane

Most home insurance companies in Spokane offer discounts that could lower your premium. However, every Washington home insurance company offers different discounts with varying savings potential. Here are some of the discounts that you can often find in Spokane:

  • Claim-free discount: If you have no recent insurance claims on your record, many home insurance companies will reduce your rate.
  • Pay in full discount: Paying your annual home insurance premium upfront and in full usually results in a cheaper premium.
  • Protective devices discount: If you have protective devices in your home, like an alarm system or fire sprinklers, you could qualify for savings.
  • Policy bundling discount: When you purchase two insurance policies from the same insurer, like home and auto insurance, you can often get a significant discount (typically on one of the policies).

When getting home insurance quotes, pay attention to the discounts that each insurer offers (and that you qualify for) to see what kind of savings you can actually get. Some discounts have a bigger impact on your premium than others. For example, Allstate offers a discount of up to 25 percent when you bundle your policies, but USAA’s bundling discount is only advertised as 10 percent.

Frequently asked questions

    • The best home insurance company in Spokane is different for every individual. It depends on personal factors like your coverage needs, budget, the discounts you can qualify for and what you value in a home insurance company. It’s a good idea to shop around and compare multiple providers to find the best one for your situation.
    • If you recently bought a home, you might be wondering how much is home insurance in Spokane? The average cost of home insurance in Spokane is $893 per year for a policy with $250,000 in dwelling coverage. For comparison, the average rate in Washington State is $948 per year and the national average rate is $1,428 per year. Home insurance rates are calculated using many factors, including the age of your home, your state and city, claim history, coverage limits and deductibles.
    • Home insurance is not required by law, but it may be required by your mortgage lender. Because everyone’s home insurance needs are different, it can be helpful to consult with an insurance professional who can recommend an appropriate amount of coverage. Once you determine how much coverage you need, you should consider getting multiple quotes to find the cheapest home insurance for you.
    • The cheapest homeowners insurance in Spokane, Washington will depend on multiple factors, including the level of coverage that you are looking for and the type of services you expect from your insurance provider. On average, PEMCO has the cheapest homeowners insurance for $250,000 in dwelling coverage, but, on average, companies including USAA, Nationwide, Travelers, and Allstate offer cheap homeowners insurance in Spokane as well.
    • Bankrate utilizes Quadrant Information Services to analyze 2023 current rates for ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

      • Coverage A, Dwelling: $250,000
      • Coverage B, Other Structures: $25,000
      • Coverage C, Personal Property: $125,000
      • Coverage D, Loss of Use: $50,000
      • Coverage E, Liability: $300,000
      • Coverage F, Medical Payments: $1,000

      The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

      These are sample rates and should be used for comparative purposes only. Your quotes will differ.

    • Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

      Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

      • Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
      • Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
      • Tier 3 (Support): To encompass the many ways a home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

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