Best & Cheapest Homeowners Insurance in Phoenix, AZ For May, 2024
Nationwide provides the most affordable home insurance for homeowners in Phoenix, with an average annual price of $1,170.
After thoroughly reviewing home insurance providers in Phoenix, Arizona, we discovered that Nationwide stands out as the most cost-effective option, with an average annual premium of $1,170. However, it’s important to recognize that the ideal insurer can vary depending on your specific circumstances and requirements.
For example, if your credit score has taken a hit, USAA remains the most affordable choice, with an average yearly premium of $1,845. Conversely, for owners of older homes, State Farm offers competitive rates at $1,520 annually, coupled with comprehensive coverage.
On the flip side, for owners of newly constructed homes, USAA once again emerges as the most economical option, charging $823 per year. And for individuals with a history of claims, Auto-Owners provides an affordable solution at $1,759 annually, while also being sympathetic to your situation.
Finally, if you possess valuable personal property that necessitates protection, Nationwide remains the recommended choice, providing extensive coverage at a reasonable rate of $1,240 per year.
Our in-depth analysis at Insuranceopedia aims to help you find the perfect match for your home insurance needs. We assess customer ratings, examine personal experiences, and offer comparison charts to equip you with all the necessary information to make a well-informed decision.
How much is homeowners insurance in Phoenix, AZ?
Nationwide provides the cheapest homeowners insurance rate in Phoenix, costing $1,170 annually.
As mentioned below, the insurance rates in Phoenix exceed both the national average and the average rates for the state of Arizona.
| Area | Average Monthly Rate |
| National | $1,820 |
| Arizona | $1,972 |
| Phoenix | $2,365 |
Understanding that insurance rates are not standardized is crucial because they can vary significantly based on various factors.
Cheapest Homeowners Insurance in Phoenix, AZ 2024
Our Methodology
In our quest to find the most budget-friendly home insurance rates in Phoenix, we analyzed data from several home insurance review platforms. These platforms sourced rates from public filings obtained through Quadrant Information Services, and we computed an average of these rates for our assessment. However, it's important to note that rates from each company can fluctuate frequently and may differ based on your unique circumstances. In addition to the aggregated data, our overall rating incorporates my subjective evaluation. This assessment draws upon my fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
Cheapest homeowners insurance in Phoenix, AZ
Nationwide emerges as the top choice for affordable homeowners insurance in Phoenix, Arizona, boasting an average annual rate of $1,170.
| Company | Annual Premium |
| Nationwide | $1,170 |
| Chubb | $1,282 |
| State Farm | $1,338 |
| Allstate | $1,924 |
| Travelers | $3,690 |
Your insurance premium is affected by various factors such as your location, the value of your home, and your claims history. Nationwide provides a well-rounded combination of affordability and comprehensive coverage options.
Cheapest Homeowners Insurance In Phoenix If You Have an Older Home
For those with older homes, State Farm provides the most economical rates, averaging $1,520 per year.
| Insurance Company | Average Annual Premium |
| State Farm | $1,520 |
| Nationwide | $1,538 |
| Auto-Owners | $1,687 |
| Allstate | $1,701 |
| Farmers | $2,160 |
Older homes often present unique risks and maintenance challenges that may result in higher insurance costs. However, State Farm offers competitive rates and comprehensive coverage designed to address the specific needs associated with older homes.
Cheapest Homeowners Insurance If You Have Poor Credit
USAA provides the most affordable option for individuals with poor credit scores, offering an average annual rate of $1,845.
| Insurance Company | Average Annual Premium |
| USAA | $1,845 |
| Nationwide | $2,180 |
| State Farm | $2,443 |
| Progressive | $2,961 |
| Chubb | $3,778 |
Your credit score significantly influences your insurance rates, as insurers use it to assess risk. USAA recognizes the importance of providing fair coverage to everyone, irrespective of their financial circumstances.
Cheapest Homeowners Insurance for Newly Constructed Homes
If you’ve recently purchased a newly constructed home, USAA provides the most affordable option, with an average annual rate of $823.
| Insurance Company | Average Annual Premium |
| USAA | $823 |
| State Farm | $1,003 |
| Chubb | $1,140 |
| Allstate | $1,354 |
| Auto-Owners | $5,280 |
Newly constructed homes often demand distinct coverage compared to older properties, and USAA excels in offering affordable policies customized to meet these particular requirements.
Cheapest Home Insurance Rates for Lots of Personal Property
| Insurance Company | Average Annual Premium |
| Nationwide | $1,240 |
| State Farm | $1,374 |
| Farmers | $1,485 |
| Allstate | $1,961 |
| Country Financial | $3,620 |
As your personal property expands, your coverage requirements also grow, potentially leading to higher premiums. Nonetheless, Nationwide offers comprehensive coverage at fair rates, guaranteeing that all your belongings are adequately protected.
Cheapest Home Insurance In Phoenix for a History of Claims
| Insurance Company | Average Annual Premium |
| Auto-Owners | $1,759 |
| Chubb | $2,730 |
| Allstate | $3,146 |
| Nationwide | $3,274 |
| Farmers | $4,770 |
A history of claims can signal heightened risk for insurers, typically resulting in higher premiums. However, Auto-Owners believes in giving second chances and offers reasonable rates for individuals with prior claims.
Best Homeowners Insurance Companies in Phoenix, AZ
Selecting the right homeowners insurance isn’t just about necessity; it’s a strategic choice. Phoenix’s homes, steeped in history, are as unique as its residents. Thus, discovering an insurance provider offering comprehensive coverage at competitive rates becomes paramount.
To streamline your decision-making, we’ve curated a list of the leading homeowners insurance companies in Phoenix, Arizona. These companies were evaluated based on their annual premiums, coverage options, customer satisfaction ratings, and overall reliability. Take a glance at our comparison chart below to identify the ideal fit for your home insurance requirements.
| Company | Annual Premium |
| Nationwide | $1,170 |
| Chubb | $1,282 |
| State Farm | $1,338 |
| Allstate | $1,924 |
| Travelers | $3,690 |
| Farmers | $1,438 |
| AAA | $2,582 |
| Country Financial | $3,276 |
Average Home Insurance Rates by Zip Codes
Home insurance costs in Phoenix, AZ can vary a lot depending on the zip code. Here are tables showing rates for different zip codes, including the cheapest and most expensive ones for annual premiums.
| ZIP Code | Average Insurance Premium (Annual) |
| 85033 | $1,680 |
| 85008 | $1,879 |
| 85035 | $1,776 |
| 85029 | $1,907 |
| 85042 | $1,604 |
Cheapest Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 85045 | $1,554 |
| 85041 | $1,590 |
| 85050 | $1,626 |
| 85018 | $1,631 |
| 85097 | $1,520 |
Most Expensive Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 85032 | $1,972 |
| 85051 | $1,965 |
| 85029 | $1,907 |
| 85014 | $1,896 |
| 85017 | $1,910 |
Average Home Insurance Rates in Phoenix, AZ by Deductible Amount
The deductible amount you choose for your homeowners insurance policy greatly affects premium rates in Phoenix, AZ. Here’s how average home insurance rates fluctuate depending on different deductible amounts:
| Deductible | Annual Rate |
| $500 | $2,150 |
| $1,000 | $1,907 |
| $1,500 | $1,756 |
| $2,000 | $1,536 |
| $5,000 | $1,309 |
Average Home Insurance Rates in Phoenix, AZ By Coverage Amount
The dwelling coverage amount is a crucial factor influencing your premium, representing the maximum sum your insurance company will pay to rebuild or repair your home in case of damage or destruction.
Here’s a comparison chart illustrating the average annual homeowners insurance premiums for various dwelling coverage amounts.
| Dwelling Coverage Amount | Average Annual Premium |
| $200,000 | $1,340 |
| $250,000 | $1,524 |
| $300,000 | $1,789 |
| $350,000 | $2,006 |
| $400,000 | $2,279 |
Average Home Insurance Rates in Phoenix, AZ by Company
| Company | Annual Premium |
| Nationwide | $1,170 |
| Chubb | $1,282 |
| State Farm | $1,338 |
| Allstate | $1,924 |
| Travelers | $3,690 |
| Farmers | $1,438 |
| AAA | $2,582 |
| Country Financial | $3,276 |
Getting Online Homeowners Insurance Quotes in Arizona
Informative platforms like Insuranceopedia streamline the process of finding tailored coverage to suit your needs with just a few clicks. By offering fast online quotes from highly-rated insurers, Insuranceopedia enables you to effortlessly compare rates.
Simply input your information, and let us handle the rest by presenting a variety of options personalized to your needs. This allows you to confidently select a policy that provides the best value, striking the ideal balance between cost and comprehensive coverage.
FAQs
Who has the cheapest home insurance in Phoenix, AZ?
Nationwide provides the least expensive homeowners insurance in Phoenix, Arizona, with an annual premium of $1,170.
What is the average cost of home insurance in Phoenix, AZ?
On average, homeowners insurance in Phoenix, Arizona, costs approximately $2,365 per year.
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