Home Insurance in Spokane Valley, WA
Protect your safe space with home insurance in Spokane Valley.
As a suburb of Spokane, Spokane Valley is centrally located in the cultural, financial and retail hub for much of Washington, Idaho and Montana. A population of 107,000 residents call the border of Spokane and Liberty Lake home.
Spokane Valley is known for its family-friendly, relaxing atmosphere, surrounded by an endless array of outdoor opportunities, like hiking, skiing and bicycling. With the Spokane River flowing through the city, residents have access not only to its beauty but to an array of water sports. Located in Eastern Washington, residents enjoy 260 days of sunshine year round, unlike the wetter climates of Western Washington cities.
The average home in Spokane Valley costs approximately $370,600. While this is about 9.6% higher than the national average, it is 30.7% less expensive than the average home in Washington State. To live comfortably in Spokane Valley, individuals need to make about $37,200, whereas a family needs approximately $70,920.
In the Spokane metropolitan area, the cost of homeowner's insurance is about $893 annually, with about $250,000 worth of dwelling coverage. On average, insurance costs in Spokane Valley are cheaper than most of Washington and cheaper than national averages. However, the cost of insurance does depend heavily on the homeowner's chosen policies and coverages.
While basic coverages are essential to all Washingtonians, specific risks are associated with living in the Pacific Northwest, including wildfires. The Spokane area has a moderate wildfire risk projected for the next 30 years. In addition to wildfires, those who live close to the Spokane River may have a severe flood risk. Fortunately, VIU by HUB can help you figure out your specific risks.
Home insurance in Spokane Valley should safeguard your property against damages and losses. Generally, basic coverage will protect against various perils, including:
When it comes to your primary policies, remember that you still must maintain your home. Homeowners who ignore maintenance may be classified as negligent when filing a claim.
There are many risks that basic coverage does not cover. The Office of the Insurance Commissioner in Washington State suggests residents carry various add-on policies due to some natural risks associated with living in the Pacific Northwest. These add-ons include:
No two homes are the same, and the threats to your home may vary from one resident to another. When looking for home insurance in Spokane Valley, consider the risk factors associated with your property. To determine the right coverage for your home, use VIU by HUB to find the options that fit your needs and keep you under budget.
This information is intended for general informational purposes only and is not intended to constitute legal advice.
Spokane Valley Economic Development
