Arizona has unpredictable weather and a wide range of geological settings. If you are living in Arizona, a solid home policy is essential. According to Bankrate’s 2021 study on annual quoted premiums, the average cost for homeowners insurance is $1,189/year or approximately $99 per month.
Arizona homeowners have many options when it comes to choosing their insurance company. Bankrate’s insurance editors looked at the market share of the top home insurance companies in Arizona. Our research may help you to find the best homeowners’ insurance for your needs.
Arizona’s best home insurance companies
Our Arizona home insurance research began with our team of insurance professionals obtaining current premium information through Quadrant Information Services. Then, we combined this information with an in-depth review of each company’s policies, coverages, discounts, and customer satisfaction scores.
These companies may be able to provide quotes during your search for Arizona’s best home insurance.
J.D. has given Allstate high marks. J.D. has given Allstate high ratings. Allstate is considered the best Arizona home insurance provider. They offer coverage options such as green reimbursement, electronic data recovery, and the HostAdvantage option for short-term rentals. Multi-policy discounts, new homebuyer, and home protective devices are all available. There is also an Easy Pay Plan that offers additional savings.
American Family provides solid coverage including dwelling coverage, other structures and property, as well as liability. You can personalize your policy by adding optional coverage such as equipment breakdown, sump pumps and water backup or credit theft protection. Matching siding protection is available, which will pay up $20,000 to repair or replace damaged siding following a loss.
Auto-Owners has some of the strongest homeowners policies in the industry, despite its name. The affordable prices are made even more attractive when discounts are available. The company offers 12 discounts, including a mortgage-free and automatic backup generator discount. Auto-Owners offers a great selection of add-on protections such as a guaranteed home replacement cost, water backup from sewers or drains, and ordinance or law coverage.
Farmers offers special endorsements such as the ecorebuild which will cover additional costs for your home to be repaired or replaced with eco-friendly materials. Additional optional coverages are identity theft and contents substitution cost coverage. The Farmers premium is higher than Arizona’s average premium and the highest on our list. However, it could still be a good fit. Farmers’ premium may be lower because rates vary depending on individual ratings.
State Farm Arizona is the largest homeowner insurance provider, accounting for about 17%. State Farm is a great choice for homeowners in Arizona looking for an easy way to manage their policy. The company has excellent online and mobile tools that can help you make a claim, or update your policy. You can also get discounts on multiple policies, home security systems, and roofing materials.
What is the cost of Arizona homeowners insurance?
Arizona’s average home insurance cost is $1,189 per annum. This is lower than the national average of $13,312 per annum. Alabama’s average cost of home insurance is higher than the $1,014 per annum in California and Nevada, while it costs $647 per annum.
The high cost of insurance may be due to Arizona’s varied weather. Insurance premiums in Arizona may rise due to the risk of wildfires or landslides, earthquakes, and water damage.
Arizona home insurance
Each state has its own unique requirements when it comes home insurance. Understanding the most common causes of damage in Arizona can help you lower your risk. Once you have a better understanding of the damage that can be done to your house, you can then choose the right coverage.
Common Loss Causes in Arizona
Arizona is a beautiful state, but it is also vulnerable to many types of weather-related catastrophes. The following are some of the most common sources of damage:
- Flooding: Arizona has a greater-than-average chance of flooding. Because of its dry climate, Arizona is vulnerable to flash floods.
- Water damage: Heavy rainfalls can also cause flooding. Rain can get through your windows, roof, siding and windows to reach your home and cause severe damage. Water damage can also occur when pipes burst or sewer lines are backed up.
- Wildfires in Arizona: Arizona is vulnerable to wildfires. According to estimates, 237.900 properties in Arizona could be at risk from wildfire damage. In 2020, Arizona saw more than 2,500 wildfires that engulfed more than 978,000 acres.
Knowing the most common causes of Arizona home damage can help you make an informed decision about your coverages.
Arizona offers a variety of home insurance options
Your policy will likely include standard coverages such as liability, personal property, and dwelling when you purchase Arizona home insurance. You can also customize your coverage with endorsements or separate policies. These coverages may be of interest to Arizona homeowners:
- Flood insurance: Standard home insurance policies do not cover flood damage. Flood coverage is an endorsement offered by a few companies, but you’ll need to buy a separate policy. Flood insurance is worth looking into because of Arizona’s high rate of flash flooding.
- Water backup coverage : Flash floods can be caused by sudden heavy rains. Water backup coverage is a popular endorsement that covers damages to your home from water backing up.
- Wildfire coverage Homeowners insurance usually covers fire damage, but you might need to have a separate policy if you live or work in a high-risk area.
Arizona is susceptible to many types of weather-related damages. It’s a good idea to work with a licensed agent when choosing coverages. A local agent may be able help you choose the right coverages.
Questions frequently asked
What is the best Arizona homeowner insurance?
Every homeowner is unique, so there is no single best Arizona home insurance company. First, determine the type of home insurance you need. Are you looking for the best price, high customer satisfaction scores, or specific coverages? This information will enable you to request quotes from multiple companies in order to determine which carrier is best suited for your needs.
How can I obtain homeowners insurance in Arizona
Many people begin by getting quotes. This can be done online, over the phone, or in person at an agency. Your address, date of birth, and possibly your Social Security Number will be required. You will also need information about your home such as the year it was built, its age, and the material used for roofing. After you have selected a quote, you will need to fill out an application and pay the payment.
How can I determine if I’m at risk for flooding damage?
The Department of Homeland Security has a Flood Map Service Center where you can enter most addresses in the U.S. and see if your area is at high risk of flooding. Flooding can still occur, even though your area is at lower than average flood risk. According to the National Flood Insurance Program, 99% of all U.S. County have been affected by a flooding event.
What is hazard insurance?
You already have Hazard insurance if you have homeowners insurance. This is typically an or HO-3 policy form. Your policy covers your house or dwelling from certain perils also known as hazards. You don’t need to buy anything extra if your mortgage company requests proof of your hazard coverage. The mortgage company will likely need a copy your home insurance policy.