As of 2018, 72.7% Gilbert residents had a home, with a median property worth of $310,000. According to Bankrate’s 2021 study on premiums, the average home insurance premium for Gilbert is $1101 for a $250,000 residence. This is a good deal compared to the $1,304 average annual premium for homeowners insurance policies in Arizona. It’s also lower than the $1,477 national average.
According to the FBI, Gilbert, Arizona is the most dangerous city in the U.S.. Wildfires and other hazards could pose a danger in the Gilbert desert environment, possibly causing damage to homes. Bankrate’s editorial team for insurance gathered the most current premium data from Quadrant Information Services to help find the best and cheapest options.
Gilbert’s best home insurance company
Below is a table that shows the wide range in customer satisfaction ratings among selected insurers according to 2020 J.D. The 2020 J.D. Power U.S. Home Insurance Study. Each company was selected for its unique qualities. These included size, customer experience, financial strength, policy options, price and a variety of discounts that customers can use to get affordable coverage.
USAA
Although USAA is not eligible for an official J.D., Due to its exclusive service for current and former military personnel and their families, USAA is a high-scoring company. USAA scored 889 points out of 1,000 for customer satisfaction. This is a testament to the company’s outstanding reputation for customer service.
Am Best also gives USAA an outstanding A++ (Superior), rating for its financial strength. The chart shows that USAA home insurance is affordable, with premiums well below average in Gilbert.
All over the country
Nationwide is one the largest U.S. insurers with an excellent Superior (Superior), rating with AMBest. Nationwide offers comprehensive coverage at an affordable price and many discounts for homeowners.
Nationwide offers certain coverages in its basic policy packages that other carriers only offer at an additional charge. This makes it stand out from the rest. Nationwide’s law coverage comes with basic coverage. The insurance company will cover the additional costs of zoning and building codes to repair or replace a house after a covered loss.
Progressive
Progressive is one the most well-known and respected home insurance companies in America. Strong financial ratings are available from Standard and Poor, Moody’s and AM Best. Its online presence is what makes the company stand out. Progressive’s website is user-friendly and allows applicants to quickly review and price different coverage options.
Progressive offers a wide range of coverages that can be combined with basic coverage to create a customized home insurance policy. Progressive offers many discounts that help keep policies affordable.
AAA
Since over 100 years, the American Automobile Association has provided personal and home insurance policies. Its unique structure includes 61,000,000 individual members and 32 motor clubs. There are also more than 1000 branch offices scattered across the continent. Although it is required to pay for membership before you can get a quote, there are many discounts that members may be able to take advantage of.
Different clubs will have different options regarding coverage. AAA memberships can offer more than discounts and add-on options. Your AAA membership could allow you to receive benefits like automatic roadside assistance and vacation planning programs.
Auto-Owners
J.D. ranks Auto-Owners high in customer satisfaction. Power is known for its financial strength and long-term stability . It is also able maintain reasonable prices thanks to its robust policy plans.
Although Auto-Owners are not available in all states, Arizona has home insurance plans. The policies are strong and include a variety of solid add-ons. There are also many discounts that help keep the prices down. Auto-Owners works with a network independent agents that can offer personal assistance, from initial quotes to handling claims.
Gilbert home insurance options
Arizona law does not require homeowners insurance, but most lenders to mortgages require that borrowers insure their mortgaged properties. It is important to find ways to protect the most valuable investment of people, their home.
Gilbert is not as risky in some ways due to its low crime rate, high homeownership, and other factors. However, Gilbert residents are exposed to certain weather risks. These are some options that may be of interest to Gilbert residents.
- Fire coverage: Arizona’s dry, hot summer climate presents wildfire risk. Home insurance policies often include fire insurance. It covers damage to property and any losses that may be caused by a fire.
- Flood insurance: Gilbert is susceptible to flash flooding during the monsoon season. This period typically lasts from June 15 through September 15. Flood insurance does not come with standard home insurance policies. Flood insurance is often required for homes in flood-prone areas that are insured by the government.
- Insurance companies can provide wind coverage in a number of ways. A separate policy for wind coverage is required in many states that are susceptible to tornado and hurricane risk. Gilbert residents should ask agents how an insurance company covers wind risks in Arizona.
Gilbert home insurance discounts
Many insurance companies offer multiple discounts for homeowners insurance policies. These discounts are usually related to the property’s characteristics, the policyholder, and many other factors. These are the most sought-after discounts:
- Bundling – Insurers offer discounts for those who buy two or more policies. One example of the most popular bundling discounts is for those who insure their vehicles and home with the same company.
- Loyalty Discount – A discount on a home insurance policy that reduces the premium for customers who have been insured by the same company over a specified period. This is a reward for loyalty, and an incentive to stay with the carrier.
- Customers with a history of claims – Customers who have made fewer or no claims are eligible for this discount. This discount often reduces your premium once you have been without a claim for a specified period.
- Discounts for home improvements vary between different insurance companies. A variety of improvements can help protect your home from future damage and depreciation. Ask your provider to determine which improvements are eligible.
All of the discounts mentioned above are available in Arizona. The state offers discounts for seniors due to the high number of retired people in Arizona. You might also consider endorsements that address specific risks in Arizona such as wildfires. Ask your carrier for discounts on the installation of a fire alarm or home safety improvements.
Questions frequently asked
Which is the best company for home insurance?
You can likely find multiple insurance companies that offer the best home policy. It is important that you look beyond the price to get quotes from different insurers. You can compare policies, add-ons, discounts, and claim handling to find the right coverage for you.
What is the cost of Gilbert home insurance?
Arizona homeowners insurance is $250,000 worth of coverage. The average annual cost for homeowners insurance is $1,101. This is lower than the national average, and higher than the average annual rates of the carriers mentioned in this article. Your specific cost of home insurance depends on many factors. These include your personal circumstances such as your location and condition.
What amount of Gilbert home insurance do you need?
For home insurance, many insurance companies require at minimum $100,000 liability coverage. Most people prefer higher limits to protect the insured’s assets. You might even want to consider an umbrella policy that covers more than $1 million. It is important to assess the actual cost of rebuilding your home before setting property limits.