Washington D.C. Home Insurance
Quote in 60 SecondsFrom foreign affairs and domestic politics to cultural attractions and world cuisine, Washington D.C. is the place to be. Whether you are someone who thrives in the public sector or a lover of the fine arts, the district has something for you to do.
D.C. is considered to be one of the most culturally diverse hotspots of America. You can find yourself visiting one of the historic monuments like the Martin Luther King, Jr. Memorial, browsing through one of the city’s countless free museums or taking an evening stroll along the Potomac River. While living in one of the most well-known cities of the country has its perks, it’s also worth noting what to keep in mind when shopping for Washington D.C. home insurance.
How much is homeowners insurance in D.C.?
Homeowners insurance in D.C. averages $1,076 annually, while rates in Maryland are around $1,165 a year, both of which are below the national average of $1,200. This comes out to about seven tickets to the Washington Wizards basketball game or 21 all-you-can-eat meals at D.C.’s famous Lucky Crab House in Union Market.
What factors influence my home insurance rate?
When you buy a home in Washington D.C. your rate will vary based on a variety of factors including your home's size, age, location and current condition. Your financial history and credit score will be taken into account as well, so it's a good idea to stay on top of all your payments and work to minimize your debt.
Washington D.C. Home Insurance Premiums
What does home insurance in D.C. cover?
Your typical home insurance policy in D.C. will include dwelling insurance, personal property insurance and liability insurance. This means that the actual physical structure of your home is protected from most extreme occurrences. Examples include catastrophic weather and when someone else obtains any injuries on your property.
On top of that, your home insurance also covers the value of any lost items due to burglary. To ensure you have the proper coverage, it’s crucial to properly assess the value of your belongings, and create a home inventory to make sure your personal property is accurately listed in your policy. It’s worth noting that your guests’ belongings are also covered in the case of theft.
Considerations for D.C. residents
From the weather conditions to crime rates, there’s a lot to take in when moving to Washington D.C. If you’re coming from a relatively dry place, you’ll want to prepare yourself and your household for the rainy season. Floods are known for their potential to damage certain types of properties, so you should make sure your homeowner’s insurance covers water damage and consider adding flood insurance to your protection plan.
In terms of safety, it really depends on where you live in D.C. Doing research on the neighborhood is a good starting point. Crime rates are relatively high in D.C. compared to the rest of the country, so we recommend making sure your home contents are taken care of through additional protection.
Many people in D.C. live in apartments or condos, in which case it might be a good idea to see what exactly your HOA and community policies are. In the event of any damage to shared or common areas, the HOA only covers up to a certain amount, meaning that you may want to add on loss assessment coverage to help with any recovery costs.
Washington D.C. Insurance Coverage Options
Traditional coverage
Structure
Expenses
Protection
Structures
Possessions
Supplemental coverage
How to lower your home insurance premium
Living in DC can be expensive, and with so many things to keep in mind when deciding on an insurance plan, it can seem challenging to determine how you are going to afford the plan that meets your household’s needs. Luckily, there are several ways you can save money and lower your insurance premium. One of them is by purchasing a newer home. The newer the house or condo, the less likely you are to run into any issues, and the longer your home will go without any unexpected problems.
If buying a newer place seems like too much, consider upgrading your home with smart devices. Not only will this bring more comfort and security, but it can greatly increase the value of your property depending on the project. If you’re not sure of what to renovate and want to work within a limited budget, consider adding on smart bathroom technology, as this is one of the areas of the house that adds on the most value in any type of home remodeling project.
Lastly, something you can do immediately is to perform any maintenance your home may need. Start with a home maintenance checklist and ensure everything is up to date. Tell your home insurance provider about any updates so they can see that it reflects accurately on your policy.
For all your home insurance needs — whether you’re just getting settled in the nation’s capital or shopping around for a better policy — Hippo is here to help. Get a free quote from us today and see how you can save.
