Landlord Insurance Olympia Washington

Looking for the Best Landlord Insurance in Olympia Washington? 

Landlord Insurance Olympia WashingtonIf so your search is over!  Call 360-352-7588 and speak to the licensed agents of Duncan and Associates Insurance Brokers.

We can help you find the best coverage options for landlord insurance in Olympia Washington and the entire state of Washington.

If you find this website after normal business hours please feel free to submit your information to us online by clicking one of the links below:

Washington State Landlord Insurance Is Complicated!

Like any type of policy an Olympia landlord insurance policy is a legal contract between you and the insurance company.

Because it is a contract it’s important for you to understand your options, coverage, and loss settlement provisions from the policy form that you purchase.

In a previous article we learned that there are three different coverage forms:

  • Basic
  • Broad
  • Special

The basic and broad form only cover claim events that are listed in the policy and it is frequently referred to as a named perils policy.

The special coverage form does not list perils that are covered by the policy. Instead it uses the language you see below to specify what is covered by the special policy form:


1: We cover direct physical loss to property insured under Coverage A – Dwelling and Coverage B – Other Structures except for losses excluded in Section I – Property Protection Exclusions.

The special policy form is a superior coverage enhancement for investors looking for landlord insurance in Olympia Washington.

However there are some conditions to qualify for this policy form.  Typically you must insure your rental units to replacement cost standards and some companies include a coinsurance clause we will consider in a future article to make sure policyholders are purchasing sufficient coverage.

What Is the Replacement Cost Requirement for Landlord Insurance in Washington State? 

Many real estate investors are savvy investors and have purchased foreclosed rental properties in some cases for pennies on the dollar compared to the market value.

The special policy form will not allow you to insure your rental properties for market value, they must be instead insured to replacement cost value.

The replacement cost value of a building is based on its age, workmanship, construction, and other factors.

It’s not unusual to see a replacement cost analysis that is three times more than market value.

If your rental property has a market value of $500,000 the rebuild cost may be $1.5 million!

Many insurance companies will require you to insure the property at full replacement cost.

Other companies will decline to insure you because their risk tolerance does not allow them to insure a property at three times market value.

Because insurance companies have differing underwriting requirements and standards it’s important to work with an agency that represents top companies offering landlord insurance in Olympia Washington.

Call Us Today for the Best Options on Olympia Washington Landlord Insurance. 

Our direct office telephone number is 360-352-7588 or if after hours send your information to us online by clicking one of the links below:

Need commercial insurance in other areas? We provide insurance for investors in the following additional communities:

  • Landlord Insurance Seattle Washington
  • Spokane Washington Landlord Insurance
  • Tacoma Landlord Insurance
  • Landlord Insurance Vancouver Washington
  • Bellevue Washington Landlord Insurance
  • Landlord Insurance Everett Washington