SPOKANE – Homeowners insurance costs are rising across the Inland Northwest, driven by more frequent natural disasters including wildfires and windstorms that impact the region.
Lisa Lauderdale, a member service officer at Cheney Federal Credit Union, learned about insurance challenges firsthand when her family lost their shop and land in the Gray Fire two years ago.
“Everything was in that shop. So, it’s little things you need to rebuild. And having that little slush fund that’s available, even $500 to $1,500 helps, just to get those basics that you’re going to need,” Lauderdale said.
The experience revealed they were undercovered by their insurance.
“You really want to make sure you have a good agent that can talk you through. Do I have enough coverage for the things that I need to repair?” Lauderdale said.
Shopping Around for Better Rates
Lauderdale recommends shopping around to find the best rates and coverage for homeowners insurance.
“I don’t just go with my agent, who is also going to shop around for me, but I look at the independent agencies and what do they have to offer,” she said.
Ways to Lower Premiums
Lauderdale recommends not filing small claims and considering raising the deductible on your policy.
“The higher the deductible, the lower your premiums are going to be. That’s always a good thing that you can do,” Lauderdale said.
Start Saving Now
Her top advice is to start saving now so if insurance rates go up or disaster strikes, you’re ready.
“Even if you’re putting $10, $20 a paycheck, set it so it’s coming as a payroll deduction,” Lauderdale said. “Best way to do that is to make it a savings account that is not easy to access.”
Additional Resources
Resources available for those struggling with rising homeowners insurance costs include SNAP, the Washington Fair Plan Association, and the Washington State Homeowners Assistance Fund.
Credit unions also offer low-interest personal loans that can help with insurance costs.
COPYRIGHT 2025 BY KXLY. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.
