Finding the Right Home Insurance in Arizona

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. 

It is My First Time Buying a Home. Does that Matter?

Yes, it matters. When you are a first-time homebuyer, some things happen differently. Home insurance is calculated into the closing costs of your home. This means you will not need to pay month-by-month for home owning. It should be calculated into the monthly mortgage costs. Of course, this will depend on where you get your mortgage. Most mortgages will include a basic home insurance policy. Be sure to check what it covers. 

What Do I Do Next?

The next step is to start looking around for insurance professionals. Having someone you trust by your side makes getting home insurance so much easier.

Logically, before purchasing home insurance in Arizona, you need a home. If you are still searching for a home in this crazy real estate market, you will not need home insurance right away. It is important to give yourself some time to breathe and focus your energy on finding the right home for you.

If you still have questions or concerns about home insurance, feel free to give us a call at (480) 981-6338. From there, you can set up an appointment with one of our professionals or get any questions answered.

We hope that you learned something new about home insurance in Arizona. If you are moving to the State of Arizona, we are excited for you. Arizona is a great place to live and has a lot to offer. When you move, you need an insurance professional to guide you through the insurance process. Any of our professionals at Insurance Professionals of Arizona are ready to help you on your insurance journey. We are committed to getting you the best coverage for the best price.

At IPA, we understand that your needs and situation can change, which means your insurance needs will change as well. Our company is here for you and wants to make sure you feel like you are right at home and happy with your insurance plan.

Ready to make the switch and get amazing insurance?.

We’re here to help! Call us today.

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Insurance Professionals of Arizona
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