The Best Cheap Arizona Homeowners Insurance for 2024

Determining which homeowners insurance to buy is an important decision. After all, homeowners insurance is designed to protect one of your most significant financial investments. If you're not sure where to find the right policy, we're here to help. Here, we highlight some of the best homeowners insurance in Arizona, reputable companies with low rates.

• Cheapest overall: Armed Forces Insurance
• Cheapest for new home construction: Progressive
• Cheapest for older homes: Armed Forces Insurance
• Cheapest for those who have filed a claim: Armed Forces Insurance

Cheapest overall in Arizona

These three companies offer the cheapest homeowners insurance in the state. They're led by Armed Forces Insurance, an insurer dedicated to protecting military members and their families.

• Armed Forces, with an average annual rate of $647
• Progressive, coming in with an average rate of $858
• Nationwide, staying competitive with a rate of $915

Cheapest for new home construction

Some new home buyers are surprised to learn they will save money on homeowners insurance, simply because the components in their home are new and less likely to break down soon. Since insurance companies are not worried about paying out claims right away, they offer lower rates. Here are the three cheapest Arizona home insurance providers for newly built homes:

• Progressive, offering an average annual rate of $373
• Nationwide, with an average annual rate of $397
• USAA, with an average annual rate of $420

Cheapest for older homes

What's not to love about older Arizona homes? Older homes have character and style seldom found in new builds. They also have problems not typically associated with newly built homes, like wood rot, mold, and failing systems. That's the primary reason older homes are more expensive to insure. The top three companies for insuring older Arizona homes cheaply are:

• Armed Forces, with an average annual rate of $697
• Nationwide, offering an average annual rate of $870
• Chubb, with an average annual rate of $878

Cheapest when you've made a claim

Arizona home insurance can be a financial lifesaver. However, it's possible a homeowner's rate will rise after making a claim. For homeowners who have previously made a claim, these three insurers offer the lowest rates in Arizona:

• Armed Forces, offering a forgiving rate of $641
• Progressive, coming in with an average annual rate of $952
• Nationwide, offering an average annual rate of $1,053

Average cost in Arizona compared to the national average

The average cost of homeowners insurance in Arizona is $1,644, nearly 5% lower than the national average of $1,725.

Arizona homeowners insurance overview

While low premiums are important, there is more to finding the best homeowners insurance in Arizona than snagging a bargain basement price. Here are some other factors to consider when shopping.

Different types of homeowners coverage

There are eight different types of coverage, six of which are designed to protect traditional (non-mobile) homes. Some types of coverage are bare bones, offering basic protection. Others offer all the bells and whistles. The best homeowners insurance companies offer them all. Before shopping for homeowners coverage, it's important to know the level of coverage desired.

Level of coverage

The thing about a bare bones insurance policy is that it may be cheap, but it is unlikely to provide a full range of coverage. Say a homeowner has lots of money in the bank and knows they can afford to rebuild the house if it's damaged or destroyed. That person may do fine with a basic policy. However, if a homeowner knows they'll need lots of help rebuilding, a comprehensive policy may help them sleep better at night.

Amount of deductible

A deductible is an amount the homeowner must pay toward a claim. Let's say there's a kitchen fire, and the total cost of the repair is $20,000 with a $1,000 deductible on the policy. The homeowner pays the contractors $1,000, and the insurance company covers the remaining $19,000.

Potential discounts

One way to land cheap homeowners insurance in Arizona is to look for policy discounts. While one policy may appear to be more expensive than another at first glance, the price can be dramatically lowered by discounts. Nearly every company offers home insurance discounts, and they cover everything from discounts for non-smokers to discounts for installing a certain type of roof or having an alarm system in place.

What are the most common homeowners insurance claims in Arizona?

Every region is known for a different set of natural disasters. For example, North Dakota has ice dams, South Carolina has hurricanes, and California has mudslides and earthquakes. But natural disasters are not the only reason an Arizona homeowner might file a claim. Here are some of the top Arizona home insurance claims:

Water damage

Arizona has more than its fair share of flood zones, making water damage one of the most common homeowners insurance claims in the state. In addition to flooding caused by weather events, there's also flooding due to the failure of household systems, like plumbing and appliances.

Wind damage

Another common claim involves damage caused by wind and hail. Roofing, windows, and siding can each take a beating from a single storm.

Theft and vandalism

Burglary is a problem in every state, and Arizona is no exception. While an insurance policy is a great way for homeowners to protect themselves against loss, there are other things they can do to secure their property. Things like investing in a home security system, living in an area where neighbors look out for one another, and using a lockbox rather than hiding a key around the front door can all help cut down on the chance of theft.

Homeowners insurance coverage options and discounts in Arizona

The best homeowners insurance in Arizona provides a high level of coverage without charging an arm and a leg for a policy. When it comes time to buy insurance, it pays to compare coverage options against costs (including discounts).

Coverage options

As mentioned, there are eight different types of homeowners policies. In the insurance industry, these categories are referred to as HO-1 through HO-8. Of the eight, one type covers renters, and another covers mobile homes only. The six remaining policy types range from basic coverage to protection with all the bells and whistles. For example, a homeowner with special features in their house -- like a wine cellar or customized home theater -- can pick up enough coverage to protect those upgrades. A homeowner can also protect their property against ice dams, electrical surges, and earthquakes. It's all about being clear about the level of coverage they require and requesting a quote for a policy with their desired level of protection.

Discount options

The trick to finding cheap homeowners insurance in Arizona is to snag as many discounts as possible. Each insurer offers a different set of discount options, but here are some of the most common:

• New build
• Home security system
• Home and auto policy bundle
• Non-smoker
• Roof upgrade
• Company loyalty

5 cheapest cities in Arizona for homeowners insurance

There are several reasons a home may be more or less expensive to insure. For example, it matters how near (or far) a house is from a fire station, the value of the surrounding homes, and the general crime rate for the area. Here are the five cheapest cities in Arizona for homeowners insurance:

5 most expensive cities in Arizona for homeowners insurance

And here are the five most expensive cities in Arizona for homeowners insurance:

The best homeowners insurance in Arizona can be found at the intersection of comprehensive coverage and low price. No matter how perfect a homeowners insurance policy may be, it's important for homeowners to review their coverage and premiums once a year to make sure they still have the best policy and best price available.