Posted June 25th, 2019 by Amy Danise
If you own property in Arizona, you want to have the right insurance for problems common in the state. In Arizona, this can include wildfires and flooding, which are related issues. Arizona wildfires can alter the landscape and ground, making areas more prone to flooding. And flood damage is typically not covered by a homeowners insurance policy.
How do I get flood insurance in Arizona?
In Arizona, you can buy flood insurance through the National Flood Insurance Program (NFIP) and some private insurers, such as Palomar Specialty and Wright National Flood.
What does Arizona homeowners insurance cover?
A typical policy in Arizona has six main coverage types:
- Dwelling coverage - for a house damaged or destroyed by a problem covered by the policy.
- Personal property coverage - for belongings (such as furniture and clothing) that are damaged or stolen.
- Other structures coverage - for damaged structures that are not attached to the house, such as a garage, storage shed and fences.
- Loss of use coverage - for additional living expenses such as hotel and restaurant bills if you can’t live at home due to damage covered by the policy.
- Personal liability coverage - in case you are legally responsible for someone else’s injury or property damage.
- Medical payments to others coverage - for medical bills of people hurt on your property and also injuries that happen away from home.
How much is Arizona home insurance?
The average yearly Arizona homeowners insurance premium is $803 for a typical policy, called an HO-3 policy, according to the National Association of Insurance Commissioners. That’s less than the nationwide average of $1,192.
20 largest Arizona homeowners insurance companies
|Rank in Arizona||Company||Market share % in the state|
|6||American Family Insurance||8.1|
|9||CSAA Insurance Exchange||2.21|
|11||WT Holdings Inc.||1.73|
|16||Farm Bureau Financial Services||1.13|
|17||National General Holdings Corp||1.1|
|Source: S&P Global Market Intelligence, based on homeowners multiple peril insurance market share in 2018.|
Find Home Insurance Today
The Best Car Insurance CompaniesCar Insurance Quotes
Liability Car InsuranceComprehensive and CollisionMotorcycle InsuranceGap InsuranceNon-owner Car InsuranceRideshare InsuranceSR-22 Insurance
3 Kinds of Insurance You Don’t Know You’ll NeedLife Insurance Coverage For You And Your Family6 Things You May Not Know Are Increasing Your Insurance CostsWhat Is Flood Insurance?Is Your Car Insurance Hurricane Ready?