Find Cheaper Homeowners Insurance

Tucson AZ Homeowners Insurance Rates

It is important to have home insurance in Tucson, AZ. In fact, if your house is not fully paid off like most homeowners, you are required to have house insurance coverage by your mortgage provider.

Naturally bordered by five Arizona mountain ranges, national parks and Native American homelands, Tucson is situated in the Sonora desert amid the Santa Catalina Mountains in Southern Arizona. Boasting historic neighborhoods, turn-of-the-century architecture, and the Mission San Xavier del Bac, Tucson never loses its distinctly Western flavor. It is home to half a million people, must-see national parks and forests. Tucson opens the threshold to a number of fun outdoor recreational activities. 

Although Tucson offers mostly a fine weather as well as a safe community, there are still times when calamity strikes. The government of Tucson conducted hazard assessments and were able to identify some of these hazards, along with reported incidents in the city, that might cause damage to both life and property. 

While major earthquakes did not hit Tucson since 1830, the city still experiences seismic activity on a regular basis. Though it often goes unfelt, but it may pose danger to your property, your home to be exact. What’s even worse is the summer weather condition which is dubbed by the rest of the country as “extreme” and a ‘killer weather’.  Whenever a house is caught on fire in summer, expect that firefighters will have a very tough battle. 

Another hazard is flashflood. Flooding has become a common incidence in the area of Tucson. Flashfloods can occur during two primary rainy seasons—the winter rains and the monsoon season. The latter can be terribly impacted by remnants of Pacific hurricanes. Imagine the size of the damage it can cause to homes. Because of these hazards, the citizens of Tucson prepared for the worst-case scenario and have made a crucial move ahead. They insured their homes with Tucson AZ homeowners insurance in the event the unexpected might happen. 

Tucson AZ Homeowners Insurance Overview

To estimate Tucson AZ homeowners insurance prices, we conducted a study involving three of the leading insurance providers in Arizona: State Farm, Liberty Mutual and Travelers. 

Our study shows the average Tucson AZ homeowners insurance premium on a monthly basis, which is at $67.35. This is $2.92 higher than the Arizona monthly average premium which is at $64.43.

We obtained rates from the aforementioned insurance providers for 5 different zip codes in Tucson. As presented on the table below, Travelers has the cheapest homeowners insurance price with an average rate of just $55. State Farm has an average monthly rate of $74.45, while Liberty Mutual has an average monthly rate of $72.60. Apparently, Travelers bested the other two homeowners insurance providersin terms of offering the lowest average rates — $19.45 lower than State Farm’s average monthly rate and $17.60 lower than Liberty Mutual’s average monthly rate. There’s even more to that. Consumers could save as high as 27% when they switch to Travelers Home Insurance. 

Tucson, AZ Homeowners Insurance Monthly Premiums

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 Tucson, we have used 5 most populated zip codes: 85705, 85706, 85710, 85713 and 85719.

Tucson, Az Statistics

As per July 1, 2018 census, Tucson AZ has an estimated population of 535,677. Owner-occupied housing units are 49.3%, and its median value is $137,600. Owner costs with a mortgage are $1,146 and without a mortgage is $385. The median gross rent is $801. 

The average family income in Tucson is at a median of $39,617. The per capita income in the past 12 months in 2017 was recorded to be at $21,684. 

As for the crime rates, there were 32,224 reported crimes in the city of Tucson as of 2018: 86.76% involved property crimes, while 13.24% were violent crimes. 

The Drawbacks of Underinsuring 

Buying insurance with inadequate coverage may eventually lead to out-of-pocket costs when making a claim. According to a survey, 8% of customers who filed claims unfortunately found themselves underinsured. Such a problem exponentially grows whenever an earthquake, a tornado, a hurricane, or a wildfire causes a house a total loss.

Never assume that the coverage limits of your home insurance will be automatically adjusted to the rising or falling market price of your home. Don’t hesitate to inquire from your insurance provider for a customized estimate of the replacement cost of your home. The estimate will include construction details, the house’s unique features, age as well as costs of meeting new local building-code requirements. Most importantly, always re-examine your home insurance coverage needs every couple of years.

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