Cheapest Arizona Homeowners Insurance Quotes (2024)

Armed Forces Insurance Exchange offers some of the cheapest homeowners insurance policies in Arizona, with annual premiums starting at $928.

Danny Smith
Written byDanny Smith
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Danny Smith
  • Licensed auto and home insurance agent

  • 4+ years in content creation and marketing

As Insurify’s home and pet insurance editor, Danny also specializes in auto insurance. His goal is to help consumers navigate the complex world of insurance buying.

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Katie Powers
Edited byKatie Powers
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Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Andrew Huang
Data reviewed byAndrew Huang
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Andrew HuangVP, Marketing & Analytics
  • Chartered financial analyst

  • 12+ years in data analysis and marketing

Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

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Updated May 28, 2024

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The average cost of Arizona home insurance is $1,961 per year for a policy with a $1,000 deductible and $300,000 in dwelling coverage. One of the main concerns for Arizona homeowners is wildfires. Compared to other U.S. states, Arizona has the fifth-most housing units at risk for extreme wildfires, with nearly 122,000 homes at risk. This makes finding home insurance in Arizona important.[1]

Always compare home insurance quotes from at least three insurance companies before buying a policy. Here’s what you need to know about finding coverage in Arizona.

Quick Facts
  • Armed Forces Insurance Exchange, American Family, State Farm, and Travelers are some of the cheapest home insurance companies in Arizona.

  • You’ll pay more for coverage if you have a lower deductible. Arizona homeowners with $300,000 in dwelling coverage and a $500 deductible pay $2,031 annually.

  • Basic home insurance in Arizona typically covers wildfire damage, though insurers may exclude this coverage if you live in a high-risk zone.

Best home insurance companies in Arizona

You have many excellent choices for home insurance in Arizona, but the best choice for you won’t always be the cheapest option. Look for insurers that combine affordability with thorough coverage and reliable service. You want an insurer that you can fully trust to protect your personal property, not just the one with the lowest rates.

Check out these insurers to start your search — each is the best insurer for a specific category in Arizona. The average annual premiums below reflect costs for a $300,000 dwelling coverage policy with a $1,000 deductible.

Insurance CompanyIQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Annual PremiumBest For
Armed Forces Insurance ExchangeN/A$928Cheapest rates
State Farm4.1$1,392Customer service
Travelers3.9$1,392Discounts
American Family4.3$1,347Young homeowners
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1-to-5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Cheapest rates: Armed Forces Insurance Exchange

Armed Forces Insurance Exchange has the cheapest homeowners insurance rates by far in Arizona, and it offers reliable and extensive coverage. The company sells coverage only for military members and their families. Arizona has one of the highest populations of veterans in the country, with more than 465,000 veterans.[2]

Pros
  • Numerous add-on coverages

  • Cheap rates

Cons
  • Only available to active military, veterans, and their families

  • Poor AM Best financial strength rating of B (Good)

Best insurer for customer service: State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.5
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$110/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$164/mo

State Farm is the best insurance company for customer service in Arizona. It also offers excellent coverage, but it’s not quite as affordable as its competitors. It has a below-average number of complaints on the National Association of Insurance Commissioners (NAIC) National Complaint Index, making it a great option for Arizona residents looking for reliable coverage and steady customer service after a severe incident.

Pros
  • High ranking in J.D. Power’s 2023 U.S. Home Insurance Study

  • Large network of local agents

Cons
  • Not as affordable as other Arizona insurers

  • Offers fewer discounts than other insurance companies

Best insurer for discounts: Travelers

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.3
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
829
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$118/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$188/mo

Travelers is the best insurer for discounts in Arizona. It offers a variety of discounts to make home insurance more affordable for savvy homeowners. Some discounts Travelers offers include homebuyer, loss-free, green home, protective device, and multi-policy discounts. It’s an excellent insurer for involved homeowners ready to go the extra mile to save money.

Pros
  • Numerous discounts

  • Affordable rates

Cons
  • Higher-than-average number of complaints on the NAIC National Complaint Index

  • Lower Insurify Quality (IQ) Score than some competitors

Best insurer for young homeowners: American Family

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.3
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
840
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$113/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$152/mo

American Family is the best insurer for young homeowners in Arizona. The company offers numerous insurance products and bundling options for homeowners. The insurer also earned an A (Excellent) financial strength rating from AM Best. Young homeowners in Arizona can secure reliable and affordable coverage for their homes, cars, pets, and more all through American Family.

Pros
  • Generational discounts for homeowners whose parents have American Family

  • Fewer-than-average complaints on the NAIC National Complaint Index

Cons
  • Restricts liability coverage for owners of certain dog breeds

  • Android app users have cited issues in online reviews

Find Cheap Home Insurance in Arizona

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Cheapest home insurance in Arizona

Armed Forces Insurance Exchange offers the cheapest home insurance in Arizona, with an average monthly rate of only $77.

Take a look at some of the other cheap home insurance companies in Arizona in the table below. The average premiums reflect costs for a $300,000 dwelling policy with a $1,000 deductible.

Insurance CompanyAverage Annual Premium
Armed Forces Insurance Exchange$928
Chubb$1,255
American Family$1,347
State Farm$1,392
Travelers$1,392
Allstate$1,401
Auto-Owners$1,401
Allied$1,576
USAA$1,580
Nationwide$1,787
Foremost$1,828
ASI$1,933
COUNTRY Financial$2,141
Farmers$2,596

Cost of homeowners insurance in Arizona

The average cost of homeowners insurance in Arizona is $2,031 per year for a $500 deductible policy with dwelling coverage of $300,000. But your rate depends on your location, how much coverage you need, and the insurance company you choose. The higher your coverage limits are, the higher your premiums will be.

Other factors that can affect your premium include your home’s size, age, local building costs, your policy’s deductible, your ZIP code, and even your credit history. It’s essential to compare home insurance quotes from multiple companies before buying a policy.

Cost of homeowners insurance by dwelling coverage amount

The factor that most significantly sways how much you pay for home insurance is your dwelling coverage amount. Dwelling coverage is the most important part of your home insurance policy, covering property damage in the event of a covered loss, such as a wildfire. The higher your dwelling coverage limit is, the higher your premium will be.

Take a look at how much your average annual premium can increase when you choose higher dwelling coverage limits for your home. The average annual premiums below are for policies with a $1,000 deductible.

Coverage LimitAverage Annual Premium
$100,000$1,071
$200,000$1,536
$300,000$1,961
$400,000$2,509
$500,000$2,509

Cost of homeowners insurance by deductible

Your home insurance deductible is the amount you need to pay out of pocket for a claim before your homeowners insurance coverage kicks in. Home insurance deductibles typically range between $500 and $2,000. Your deductible will also affect your premium. The lower your deductible is, the higher your premium will be.

See how your premium for a policy with $300,000 in dwelling coverage can vary based on your deductible below.

Deductible AmountAverage Annual Premium
$500$2,031
$1,000$1,961

How to get cheap homeowners insurance in Arizona

You can secure cheap homeowners insurance in Arizona in various ways, including:

  • Compare home insurance quotes. Comparing quotes from multiple companies is the best way to save money on home insurance. Insurers weigh various rating factors differently, so you should compare quotes from at least three different companies to find the best coverage for your specific situation.

  • Apply for discounts. Discounts are a great way to save money on home insurance. Almost all insurers offer a wide variety of home insurance discounts. Just ask for the information. Bundling your auto insurance with your home insurance is a common discount that can save you hundreds.

  • Increase your deductible. Increasing your deductible will automatically lower your premiums, but you’ll have to pay more out of pocket if there’s a claim. Make sure you can afford to pay your new, higher deductible before increasing it.

  • Improve your credit. Improving your credit can reduce your home insurance premiums. Insurers consider your credit history when determining premiums. A higher credit score indicates a smaller likelihood of filing a claim, so you’ll pay lower premiums than homeowners with bad credit.

How much homeowners insurance do you need in Arizona?

Though you don’t legally need to carry homeowners insurance in Arizona, it’s a good idea to purchase it. Home repair and replacement expenses can be very costly for homeowners without help from an insurer. Also, if you have to take out a mortgage on your home, your mortgage lender will require you to carry home insurance.

The 80/20 rule is a good guideline to follow for home insurance coverage. You should carry coverage equal to or greater than 80% of your home’s replacement cost.[3] No matter how much dwelling coverage you choose, it’s important to know what your home insurance policy covers.

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What are some of the biggest risks when owning a home in Arizona?

Owning a home in Arizona comes with a few key risks that homeowners should be aware of:

  • illustration card https://a.storyblok.com/f/162273/150x150/b6bf878187/climate-change-96x96-yellow_020-high-temperature.svg

    Extreme heat

    Arizona is a desert state that naturally experiences extreme heat. Having air conditioning in your home is essential. It’s also worth considering a backup generator to keep you cool if you lose power.

  • illustration card https://a.storyblok.com/f/162273/150x150/9e462f87fd/insurify-icons-auto-orange-96x96_010-house.svg

    Wildfires

    Arizona experienced 1,432 wildfires in 2022, which burned 124,165 acres.[1] Homeowners should make sure their home insurance includes coverage for wildfire damage.

  • illustration card https://a.storyblok.com/f/162273/150x150/f4287230a5/climate-change-96x96-blue_013-flood.svg

    Floods

    Though you may not think of Arizona as prone to flooding, regional and flash floods do still occur in the state. Basic home insurance doesn’t cover flood damage, so you may need to purchase additional flood coverage either from your home insurance company or through the National Flood Insurance Program (NFIP).

Arizona homeowners insurance FAQs

The following information can help answer your remaining questions about finding cheap home insurance in Arizona.

  • How much is home insurance in Arizona?

    The average cost of home insurance in Arizona for $300,000 in dwelling coverage with a $1,000 deductible is $1,961 per year. For the same coverage with a $500 deductible, the average cost of coverage is $2,031 annually. If you live in an area where you need a separate flood insurance policy, you’ll need to pay another premium.

  • Which company has the cheapest homeowners insurance in Arizona?

    Armed Forces Insurance Exchange has the cheapest homeowners coverage in Arizona, with an average yearly cost of $928 for $300,000 in dwelling coverage with a $1,000 deductible. American Family, State Farm, and Travelers also sell cheap home insurance.

  • Does Arizona require homeowners insurance?

    No. Arizona state law doesn’t require homeowners to purchase home insurance, but your mortgage company will require it if you have a mortgage. Even if you don’t need home insurance because of a mortgage, you should buy coverage to protect your finances in the event of damage to your home. Coverage can also protect you if someone incurs an injury on your property.

  • What is the most common homeowners insurance policy type?

    An HO-3 (special form) policy is the most common homeowners insurance policy type. This policy type provides more protection by covering more perils. It includes dwelling and other structures coverage for perils not specifically excluded.

Sources

  1. Insurance Information Institute. "Facts + Statistics: Wildfires."
  2. QuickFacts United States; Arizona. "United States Census Bureau."
  3. National Association of Insurance Commissioners. "A Consumer's Guide to Home Insurance."
Danny Smith
Danny Smith

Danny is a Brooklyn-based writer with a producer’s license for property and casualty insurance. A former editor at Insurify, he specializes in auto, home, and pet insurance. He works to translate his insurance expertise into digestible, easy-to-understand content for drivers, homeowners, and pet owners alike.

Katie Powers
Edited byKatie PowersAuto and Life Insurance Editor
Photo of an Insurify author
Katie PowersAuto and Life Insurance Editor
  • Licensed auto and home insurance agent

  • 3+ years experience in insurance and personal finance editing

Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.

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Andrew Huang
Data reviewed byAndrew HuangVP, Marketing & Analytics
Headshot of Andrew Huang, Directory of Analytics at Insurify
Andrew HuangVP, Marketing & Analytics
  • Chartered financial analyst

  • 12+ years in data analysis and marketing

Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

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