A Guide to Home Insurance in Arizona (AZ)

Understanding which Arizona Home Insurance is best for you is critical if you are going to feel properly protected in your home.

For most people their home is their single biggest investment and so it makes sense to make sure that it is adequately protected with good Arizona Home Insurance that not only pays out for the building itself, but which also covers your personal property and other factors such as the possibility of visitors to your home suing you.

This may seem unlikely, but the reality is that a quick Google search will reveal to you that this is far more common then you may realise, and it can potentially open you up to large amounts of expense.

What is average Arizona Home Insurance?

It is important to consider exactly what average Arizona Home Insurance is so that you can be sure to buy cover that is as good as it should be.

The US Government has produced some statistics in 2011 to show what average home insurance policies cost in the United States in 2007 as a whole, and also on a state by state basis. (There is always a time-lag between the availability of comprehensive statistics that you can trust.)

These figures reveal that Arizona is actually one of the cheaper states to buy home insurance, with an average Arizona Home Insurance cost of just $634 a year as compared to a US wide average of $822. 

So it is about 20% cheaper on average to get home insurance in Arizona then the US as a whole, and other states come out as being dramatically more expensive (Florida for example cost an average of $1,534 for home insurance in 2007).

Naturally these rates will vary quite dramatically both based on the companies that you choose, and also more importantly, the types and levels of cover that you choose to get, so it is always worth shopping around for a wide variety of Arizona Home Insurance Quotes that really fit your requirements.

The Five Different Elements of Arizona Home Insurance Cover You Will Want…

1/ Dwellings Cover

This would enable you to pay for any damage to the physical structure of the building  in the event of a fire for example.

Typically other buildings that may be on your land such as sheds or garages would usually be covered up to 10% of the total cover.

2/ Personal Property Cover

This would pay for the contents of your home such as clothing, furniture, kitchen equipment and also other items such as carpets which you would need to replace in the event that your home burned down.

Typical cover for personal property would be 50% of the total cover policy limit, and usually a 10% limit if your property was damaged or stolen whilst you were away from the property (for example on vacation.)

It is usually a good idea to consider getting dedicated travel insurance though if you are away from home, because this will tend to offer greater flexibility and levels of protection.

3/ Personal Liability Cover

The liability element of Arizona Home Insurance is an important one for policyholders to consider, because in the event that someone was injured in your home (perhaps by falling down the stairs, or tripping over something and hurting themselves for example); then this would pay to both defend you in court against being sued, and also pay for any of the damages that a court rules you had to pay.

Note – This does not include accidents involving a motor vehicle, as these would be separately covered by auto insurance.

Typically this would have limits of $100,000, but you can generally increase this amount by paying an additional premium on your policy.

The costs of litigation in the United States can be quite dramatically high, and so it is well worth considering increasing this amount.

4/ Medical Payments Cover

This would pay for the medical costs of someone who was injured at your home.

Medical costs can be very high in the United States, and so again it is well-worth giving careful thought to increasing this component of your Arizona Home Insurance policy.

5/ Additional Living Expenses

If for example your home was burned to the ground then you would not have anywhere to live, and so the additional living expenses component of homeowner insurance policies in Arizona is designed to pay out for you to move into a hotel, or rent alternative accommodation for a period that would not normally exceed 12 months.

An average Arizona Home Insurance policy would pay out up to 20% of the policy limit for this element of cover.

So, those are the five elements that you would typically expect to see in your home policy, but of course how much home insurance you need is going to depend on how much your home is worth, and the value of your contents.

Here are some statistics about the most expensive and the least expensive counties to purchase a home in Arizona, based on average house listing price figures from July 2011 by Trulia Real Estate.

The Most Expensive Counties for Arizona Homes

Coconino - $449,902
Santa Cruz - $352,625
Maricopa - $299,576
Yavapai - $285,714
Gila - $285,236

The Cheapest Counties for Arizona Homes

Greenlee - $108,415
Pinal - $136,936
Yuma - $161,106
Graham - $163,257
Mohave - $188,908

The best way to get a great deal on your Arizona Home Insurance is to make sure that you check a number of different Arizona Home Insurance Companies, and also get a variety of Arizona Home Insurance Quotes to make sure that you are getting as varied a selection as possible, before making a final decision.


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