How much is home insurance in Phoenix, AZ?

The average cost of homeowners insurance in Phoenix varies depending on the coverage level you choose. Homeowners insurance costs $1,844 annually for dwelling coverage of $200,000 and $2,310 for $300,000 of dwelling coverage.

Below are average Phoenix home insurance rates for various dwelling coverage amounts.

Coverage level (Dwelling)Average annual rateAverage monthly rate

Note: For the above rates, the deductible amount is $1,000 and liability protection is $100,000.

Cheapest homeowners insurance companies in Phoenix

Price is an important consideration when shopping for home insurance, and the cost in Phoenix varies greatly by company. While rates matter, it’s also important to look at each company’s reputation before you buy.

According to an analysis, American Family is the cheapest home insurance company in Phoenix, with an average annual rate of $1,502. The following table shows the cheapest home insurance companies in Phoenix.

Company nameAverage annual cost
American Family$1,502
State Farm$1,532

Homeowners insurance cost in Phoenix by credit score

Homeowners with poor credit scores pay more for home insurance every year. Insurance companies in Phoenix can use credit information when calculating rates.

The average home insurance cost for homeowners with an excellent credit score is $1,648; that's $2,669 less expensive than the same policy for policyholders with a poor credit score. The table below shows the average annual insurance cost for homeowners with different credit levels.

Credit scoreAverage annual cost

How can you save on homeowners insurance in Phoenix?

If you want to save on your homeowners insurance, the best way is to compare quotes from multiple insurers. Homeowners insurance companies offer various discounts to help you lower insurance costs. There are a few different types of discounts that companies offer.

Home and auto bundle discount (multi-policy):

One of the easiest ways to get cheaper home insurance in Phoenix is the multi-policy discount, or bundling. If you purchase your home and auto insurance from the same company, you can save an average of $387 a year.

Loyalty discount:

Staying with the same insurance company can earn you a loyalty discount, saving you around $62 annually on your home insurance in Phoenix.

Security equipment discounts:

Apart from bundling and loyalty discounts, insurance companies offer discounts to homeowners for installing safety and security equipment, like a fire alarm or burglar alarm. If you install a fire alarm at your home, you can get a discount of $57 a year on average from your insurer.

New home discount:

If you buy new construction, you can get cheaper rates by insuring a newly constructed home. Policyholders can get an average new home discount of $1,250 a year. Make sure you get all the discounts for which you are eligible to trim your Phoenix homeowners insurance cost.

Methodology compared homeowners insurance rates in 2022 provided by Quadrant Information Services for around 29,000 cities in all states, including Washington D.C., for $300,000 dwelling coverage with a $1,000 deductible and $100,000 liability coverage. The rates were analyzed for almost 34,000 ZIP codes for those with good credit ratings. Content has been updated in 2023.

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