Find Cheaper Homeowners Insurance

Phoenix AZ Homeowners Insurance Rates

Popularly known as the ‘Valley of the Sun’, Phoenix is Arizona’s metropolis which offers more sunshine than rest of the cities in Arizona. Located on a flat desert terrain, the city is majestically surrounded by the Phoenix Mountain Preserve and naturally bordered by lakes and the breathtaking Superstition Mountains to the east. Being the sunniest city in Arizona, its warm climate with low humidity, gives you plenty of ways to enjoy the nice weather. Despite this, it is still important to have quality home insurance coverage in Phoenix.

According to the Arizona State Climate Office, the country and its cities are not free from weather hazards. One deadly weather condition on record is the country’s notorious heat. As a matter of fact, in June 2016, the city’s firefighters battled both fire and excessive heat that burn down a property near 32nd Street and Thomas Road. Fortunately, the house was covered by Phoenix AZ homeowners insurance. Moreover, wild fires, flash floods, and tornadoes are still among Arizona’s weather hazards that may highly likely devastate properties. 

Phoenix AZ Homeowners Insurance Overview 

We conducted a comparative study of homeowners insurance prices in Phoenix AZ for your reference. Three of the leading Arizona insurance providers were chosen. 

Our study revealed that the average monlthy premium for Phoenix Arizona homeowners insurance is $75.26. Apparently, this is $10.83 higher than the Arizona monthly average premium which is at $64.43. 

We obtained rates from State Farm, Liberty Mutual and Travelers for 7 different zip codes in Phoenix. As can be seen on the table below, Travelers has the most affordable homeowners insurance price with an average rate of just $62.14. State Farm has an average monthly rate of $82.77, while Liberty Mutual has an average monthly rate of $80.86. Obviously, Travelers bested the other two homeowners insurance providersin terms of offering the lowest average rates — $20.63 lower than State Farm’s average monthly rate and $18.72 lower than Liberty Mutual’s average monthly rate. There’s even more to that. Consumers could save as much as 27% when switching to Travelers Home Insurance.

Phoenix, AZ Homeowners Insurance Monthly Premiums

Zip Codes
State FarmLiberty MutualTravelersZip Code Average
85009
$84.16$86.00$60.00$76.72
85029
$92.50$82.00$65.00$79.83
85032
$78.25$75.00$58.00$70.42
85035
$83.16$87.00$65.00$78.39
85037
$75.16$77.00$62.00$71.39
85041
$82.33$76.00$60.00$72.78
85051
$83.83$83.00$65.00$77.28
Company Average:
$82.77$80.86$62.14Phoenix Average: $75.26

Methodology

The methodology of this study included getting quotes for houses with 1500 sq ft built in the year 2000 with two full bathrooms. We have estimated the home value at $150,000. It is assumed that the roof was replaced in 2015. For Phoenix, we have used 7 most populated zip codes: 85009, 85029, 85032, 85035, 85037, 85041 and 85051.

Phoenix, Az Statistics

As per July 1 2017 census, Phoenix AZ has an estimated population of 1.6 million. Owner-occupied housing units are 53.4%, and its median value is $197,800. Owner costs with a mortgage are $1,373 and without a mortgage is $431. The median gross rent is $954.

The average family income in Phoenix is at a median of $52,080. The per capita income in the past 12 months in 2017 was recorded to be at $26,528. 

As for the crime rates, based on the official website of the City of Phoenix (www.phoenix.gov), there were about 35,096 reported crimes in the city as of 2018: 82.56% involved property crimes, while 17.44% were violent crimes.

Getting the Best Coverage and Value 

Because having and maintaining homeowners insurance becomes indispensable to owning a residence, you must carefully consider your homeowners insurance policy before getting one. In this way, not only that your home is adequately insured, but also, you’re actually getting the best value for your money.

Different insurance providers offer different coverage and policy limits. Generally, homeowners insurance covers damages which are caused by the following: fire, explosion, theft, flood, windstorm, hail, riot, and the like.

Never Leave Your Homeowners Insurance to the Last Minute

Failing to plan is planning to fail. It is advisable to put into your priority list the insurance on your new home. Avoid being caught in a dilemma where you will have limited options for your policy. People who fail to prioritize the insurance on their new house will often feel pressure and would make a desperate and poor choice, giving little attention to the coverages they get with their home policy.

Accordingly, poor insurance choices can actually cost you thousands of dollars in the long run, not to mention the great deal of stress on you. Never go for a home insurance because it’s very cheap. Always consider how you will be paid in a claim.

The best thing to do before buying home insurance for your residence is to conduct a comprehensive research about the insurance providers in your area. Find one that really provides the most complete coverage for the things you need.

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