Homeowners insurance in Phoenix, AZ

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 $2,002 per year for dwelling coverage of $200,000 and $2,616 for $300,000 of dwelling coverage.

Below are the average annual and monthly Phoenix home insurance rates for different amounts of dwelling coverage.

Coverage level	Average annual rate	Average monthly rate
$200,000	$2,002	$167
$300,000	$2,616	$218
$400,000	$3,230	$269
$600,000	$4,444	$370
$1,000,000	$6,149	$512

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

How do deductibles affect home insurance rates in Phoenix?

Home insurance rates in Phoenix vary based on the deductible you choose. If you pick a higher deductible, your monthly insurance premium will be lower, while a lower deductible, means lower premiums because the insurance company will pay more if you file a claim, and the odds of you filing a smaller claim are higher.

The table below lists the home insurance rates by deductible in Phoenix.

Deductible	Company	Average annual premium	Average monthly premium
$500	Allstate	$2,683	$224
$500	Nationwide	$3,125	$260
$500	Farmers	$5,363	$447
$500	Travelers	$9,865	$822
$2,000	State Farm	$1,435	$120
$2,000	Allstate	$2,215	$185
$2,000	Nationwide	$2,598	$217
$2,000	American Family	$2,766	$231
$2,000	Farmers	$4,973	$414
$2,000	Travelers	$8,625	$719
$2,500	State Farm	$1,360	$113
$2,500	Allstate	$2,130	$178
$2,500	Nationwide	$2,598	$217
$2,500	American Family	$2,741	$228
$2,500	Farmers	$4,973	$414
$2,500	Travelers	$8,154	$680
$3,000	State Farm	$1,360	$113
$3,000	Allstate	$2,055	$171
$3,000	Nationwide	$2,648	$221
$3,000	American Family	$2,725	$227
$3,000	Farmers	$4,742	$395
$3,000	Travelers	$8,179	$682
$4,000	State Farm	$1,301	$108
$4,000	Allstate	$1,821	$152
$4,000	Nationwide	$2,189	$182
$4,000	American Family	$2,628	$219
$4,000	Farmers	$3,734	$311
$4,000	Travelers	$6,818	$568
$5,000	State Farm	$1,242	$104
$5,000	Allstate	$1,821	$152
$5,000	Nationwide	$2,189	$182
$5,000	American Family	$2,628	$219
$5,000	Farmers	$3,830	$319
$5,000	Travelers	$6,818	$568
$500	USAA	$2,660	$222
$2,000	USAA	$1,958	$163
$2,500	USAA	$1,958	$163
$3,000	USAA	$1,713	$143
$4,000	USAA	$1,412	$118
$5,000	USAA	$1,412	$118

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Who has the cheapest homeowners insurance in Phoenix?

According to Insurance.com analysis, State Farm is the most affordable home insurance provider in Phoenix, with an average yearly cost of $1,482.

Price is a big factor when choosing home insurance, and costs in Phoenix can vary a lot between companies. While saving money is important, it’s also a good idea to consider each company’s reputation before making a decision.

The table below lists the cheapest home insurance companies in Phoenix.

Company	Average annual cost
State Farm	$1,482
Allstate	$2,283
American Family	$2,823
Farmers	$2,830
Nationwide	$2,973
Travelers	$3,018
USAA	$2,363

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How does credit affect homeowners insurance in Phoenix?

The average home insurance cost for homeowners with an excellent credit score is $1,989; that’s $3,804 less expensive than the average cost of the same insurance for policyholders with a poor credit score. The table below shows the average annual insurance cost for homeowners with different credit levels.

Credit score	Average annual cost
Excellent	$1,989
Fair	$3,356
Good	$2,616
Poor	$5,793

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How can you save on homeowners insurance in Phoenix?

If you’re looking to save on your homeowners insurance, the best way is comparing quotes from multiple insurers. Homeowners insurance companies offer a variety of different discounts to help you lower insurance costs. Here are a few common ones.

Home and auto bundle discount (multi-policy)

One of the easiest ways to get cheaper home insurance in Phoenix is the multi-policy discount, also known as bundling. If you purchase your home and auto insurance from the same company, you can save an average of $275 a year.

"It’s not always the better option, but more times than not it is because if you bundle usually, you get a 10-20% discount on both policies," says Josiah Hatch, owner and CEO at Bender Hatch Insurance in Boston.

Loyalty discount

Staying with the same insurance company can earn you a loyalty discount, which could save you around $69 annually on your home insurance in Phoenix.

Security equipment 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 $78 a year on average from your insurer.