How much is homeowners insurance in Phoenix,NY

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In Phoenix, homeowners pay an average annual rate of $1,387 (for the coverage level of $300,000 for dwelling, $100,000 for liability protection, and $1,000 deductible), according to Insure.com’s rate analysis. It’s $1,117 less than the national average of $2,504.

Homeowners insurance rates change from one home to another. The home insurance premium in Phoenix depends on various factors, such as:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

To ensure you secure the best homeowners insurance policy, compare quotes from multiple insurers, enabling you to find the right coverage that aligns with your specific requirements.

Read this guide to learn how much homeowners insurance costs monthly in Phoenix, what home insurance costs for different dwelling coverage, and which companies offer cheap home insurance in Phoenix.

Key takeaways

The average cost of homeowners insurance in Phoenix is $1,387 per year.
American Family is the cheapest homeowners insurance company in Phoenix with an average annual premium of $763.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $354 more a year for home insurance.

How much is homeowners insurance in Phoenix per month

According to Insure.com’s rate analysis, residents of Phoenix pay an average of $116 per month for homeowners insurance. This is $32 less than the state average of $148 and $93 less than the national average for home insurance across the United States. The cost of your homeowners insurance policy in Phoenix can vary depending on your location, property value, and selected coverage options.

How much is homeowners insurance for a $200,000 house in Phoenix

In Phoenix, NY, homeowners pay an average of $1,033 annually for a $200,000 house. The amount you pay for home insurance each year depends on factors such as – natural disasters or events within your locality.

Some regions are more at risk for natural disasters, like floods, hurricanes, or tornadoes, implying higher rebuilding rates in these areas are higher, resulting in higher insurance premiums. It’s essential to note that your insurance policy might not cover damages caused by floods or hurricanes. If you reside in an area prone to flooding, consider buying flood insurance.

How much is homeowners insurance for a $300,000 house in Phoenix

Based on a rate analysis conducted by Insure.com, Phoenix residents pay an average of $1,387 per year to insure a home for coverage limits of $300,000 dwelling, $100,000 liability with a $1,000 deductible. If you plan to increase your dwelling coverage from $200,000 to $300,000, you must pay an additional $354 per year for home insurance.

Buying adequate insurance to cover the entire expense of rebuilding your home is best advisable. However, the amount of dwelling coverage you need may vary depending on your home’s size, amenities, and the cost of living in your area.

How much is homeowners insurance in Phoenix by company

Among the carriers analyzed, American Family is the most affordable homeowners insurance company in Phoenix. It’s average annual rate for homeowners in Phoenix is $763.

NYCM Insurance, ranks second and Travelers makes it to the third spot with an average annual home insurance rate of $1,132.

Research on the company is essential before selecting a homeowners insurance policy. Insure.com has thoroughly examined all insurance companies operating in Phoenix and compiled a list of the most affordable home insurance companies.

Below are details of Phoenix home insurance companies and their average annual premiums.

Home insurance company	Annual rate
American Family	$763
NYCM Insurance	$1,028
Travelers	$1,132
AIG	$1,193
State Farm	$1,209
Nationwide	$1,292
Chubb Ltd	$1,315
Heritage Insurance Holdings	$1,401
Allstate	$1,440
Farmers	$2,371

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Phoenix for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.