Guide to Renters' Insurance in Washington

Renters' insurance in Washington averages $170 per year as of 2010.

According to the Washington State Office of the Insurance Commissioner, renters' insurance policies protect Washington residents who live in rented property, such as apartments, condominiums, duplexes or single-family homes.

Basic Policy Coverage

A basic renters' insurance policy in the state of Washington covers a renter's possessions at their cash, or used value; lawsuits and impending medical bills if someone becomes injured on the rented property; and any living expenses the renter incurs if his rented property becomes uninhabitable.

Endorsements

A basic Washington renters' insurance policy may not be enough to cover all losses and incidents that occur on a renter's property. For this reason, renters may purchase endorsements, which are additional upgrades to the policy. Common endorsements include replacement cost coverage, which replaces the used value of your possessions plus the additional cost to replace them, and scheduled personal property endorsement, which covers additional personal items, such as sports equipment, jewelry and instruments.

Costs and Coverage

If insured with renters' insurance in Washington, the average renter will be covered for between $20,000 and $30,000 in damages. Insure.com reports that the cost for renters' insurance packages averaged $170 per year as of 2006.

References

• Washington State Office of the Insurance Commissioner: How Renters Insurance Works
• Renters Insurance: Washington Renters Insurance
• Insure: Average home insurance and renters insurance premiums by state

Resources

• National Association of Insurance Commissioners: Home Inventory Checklist
• Insurance Finder: Renters Insurance