Finding Home Insurance in Arizona

Are you looking for home insurance in Arizona? If so, you have come to the right place. There is a lot that goes into home insurance and home-owning in general. It can be confusing and overwhelming if you try to figure all of it out yourself. We want to help you understand how to get the most out of your policy and where to find help and resources. Peruse this article for basic information, and give us a call so we can better help you with your specific situation.

If this is your first time owning a home, there are certain perks that you qualify for as a first-time homeowner. You may be a seasoned homeowner or want insurance for your home if you are refinancing or moving to another state. Either way, you will need a type of insurance to protect your home from potential wear and tear. Let us take a look at what Arizona requires for home insurance.

Does Arizona Require Home Insurance?

The short answer is no. The State of Arizona does not require home insurance if you own a home. The catch is, if you have a mortgage, you will usually be required to have home insurance. Unless you pay with cash for your home, you will have to get home insurance. It is best to talk with your mortgage broker to determine if you do need home insurance. They may know the answer, but if they do not, they can direct you to someone who does know the answer.

You will want to consider home insurance, though, even if it is not required. If your home gets damaged in any way, home insurance will usually cover most, if not all, of the damage and cost. It is a great option in The Grand Canyon State because Arizona is known to get both extremely hot and extremely cold. If you are out in the country where there are not a lot of homes, your house is a target for damage caused by the weather. This protects your home and gives you peace of mind for the unknown. 

What Does Home Insurance in Arizona Cost?

The average cost for home insurance in Arizona is $1,189 (this is the annual cost, not the monthly cost). If you are not a first-time homebuyer, you will be able to pay month to month. That option is relieving as it lets you automatically budget the cost into your monthly expenses. Paying annually can be a pain if you do not have savings or forget to budget throughout the year, as the payment is a combined, hefty chunk of cash.

Keep in mind: $1,189 (the annual insurance cost) is a state average. That means that some insurance policies are going to cost more. It also means that some insurance policies will cost less, which can be great for you. Several different factors go into determining how much your insurance will cost you. The elements that go into home insurance costs are things like the age of the house, your credit score, where you live, and what coverage you want with your policy.

What Does Home Insurance Cover?

A basic home insurance package should cover damage that happens to the house. That includes any damage done by trees during a storm. It also covers damage to the home by fire, dust storms, and even snow. You can be covered for all types of weather with the right insurance policy. However, most all policies do not cover any damage caused by your negligence or lack of upkeep. Your home insurance in Arizona will only cover natural damage such as damage caused by weather or a storm.

That is everything covered by the most basic coverage policy. While it covers a lot, it does not cover everything. Fortunately, you can purchase a plethora of different add-ons. If you live in a place that has earthquakes, you may want to purchase earthquake insurance, as basic policies do not cover things inside your home that you use for everyday living (air conditioners, heaters, etc.). You can add this to your current policy. Other things such as mold, or anything outside of the home, will have to be covered under additional policies. Consider where you live and what you will need.