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Gilbert, AZ Homeowners Insurance
Gilbert is known and loved for its big-city conveniences and small-town feel. Once recognized as “the hay shipping capital of the world,” Gilbert landed the top spot as the most prosperous city in the U.S. in 2020, and not just because the city’s population has more than doubled since 2000. Gilbert ’s growing population is matched by its initiatives for improvement and sense of community. Plus, the Phoenix suburb is rated among the top 10 best cities for first-time homebuyers.
But if you’re looking to buy a home for the first time in Gilbert, you’ll want to make sure it’s protected, especially from natural disasters like the area’s monsoon season.
Insurify makes it easy to find the coverage you need at a cost you can’t beat. Search the best home insurance comparison site to see Gilbert home insurance providers, policies, and prices side by side. That way, you can choose the best home insurance coverage for your Gilbert home in just a few minutes.
Cheapest Home Insurance Companies in Gilbert
For homeowners in Gilbert, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Gilbert. The following are the best insurance rates from carriers that offer homeowners insurance in Gilbert.
|Cheapest Companies||Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.|
How to Find Cheap Home Insurance in Gilbert
Buying a home in Gilbert may be one of the largest financial investments of your lifetime, but if you’ve lived in Gilbert for a while, you probably already knew that. The city’s median income is over $90,000, so it makes sense that the median home value is nearly $400,000. With an investment this big, you’ll want to protect it from the perils of life in Arizona.
The first step to protecting your property is homeowners insurance. Though not required by law, home insurance provides financial liability for your property and belongings from natural disasters and theft. Different coverage levels are available for different property types, locations, and other factors. So you can cater your coverage to your specific insurance needs.
Keep reading for a full guide on Gilbert home insurance.
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Cheapest Home Insurance in Gilbert by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in. Our free home insurance comparison tool allows you to find the best policy for the best rate fast. And your information stays private and protected.
As of 2021, the average home insurance premium in the Gilbert area costs $1,803 annually, and the median home value is $398,666.
Protecting your home can get pretty costly. But comparing different insurance companies’ home insurance quotes can help you save on your annual premiums, so it doesn’t hurt to get a quote from a few insurance agents before choosing a policy. Check out the insurance costs with insurance providers like Allstate, GEICO, and USAA to see who has the best rates below.
|Average Home Cost in Gilbert The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.||Average Annual Insurance Premium in Gilbert The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced.|
Average Annual Home Insurance Premium in Gilbert by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Cheapest ZIP Codes in Gilbert for Home Insurance
You might expect that homeowners in Gilbert have similar home insurance rates to homeowners in Chandler, Mesa, or even Phoenix.
But pricing is determined by ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs. Plus, risk variables, such as natural disaster frequency. So even your specific neighborhood may determine if you pay more or less on your annual premiums.
Rates in Gilbert are still relatively low compared to the national average, but you could save even more depending on which area you live in.
Home Insurance Coverage Types in Gilbert
There are several types of home insurance. Specific terms of insurance policies may vary by city, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance.
Provides coverage for a handful of potential problems, including
- Dwelling coverage for damages from some natural disasters (storms, fires, wind, lightning, volcanic eruption),
- damage from vehicles,
- or civil commotion.
Broad form homeowners insurance policies include all basic form coverage, plus protection from:
- falling objects,
- damage from the weight of ice, snow, or sleet,
- freezing of household systems including HVAC and pipes,
- sudden and accidental damage to pipes and other household systems from artificially generated electrical current,
- accidental discharge or overflow of water or steam,
- sudden and accidental damage.
HO-2 policies typically cover both dwelling protection and personal property.
In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
The most common form of homeowners insurance is known as a “special form” policy.
While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
Tenant’s form policies typically cover all the same dangers as HO-2 policies.
These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
Some HO-4 policies may also include loss of use coverage for the tenants.
Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policy.
The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “ replacement cost value” policies.
An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property, such as jewelry and artwork.
Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
These policies also include personal property and liability coverage and may include loss of use coverage.
If you own a mobile home or manufactured home, you likely have an HO-7 policy.
Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home that would enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Arizona city level guides, check out these below.
Flood Insurance for Your Gilbert Home
Monsoon season in Gilbert lasts from mid-June through September, leaving the city and your home at risk of flooding for three months every year. But standard homeowners insurance coverage lists flood damage as an exclusion, so you’ll have to purchase a flood insurance policy to get the additional coverage you need.
Gilbert participates in the National Flood Insurance Program, so you can purchase flood insurance even if your home is located in a designated flood zone. Gilbert also participates in the Federal Emergency Management Association’s Community Rating System, so residents with NFIP policies can even save on their premiums based on the town’s flood management programs and initiatives.
Combatting Arizona’s Microbursts
With the monsoon season come storms and heavy winds. But if you’re new to the Gilbert area, you’ll want to prepare yourself for another side effect of Arizona storms: microbursts.
Microbursts are columns of sinking air that form when precipitation gets caught in upward currents of air during thunderstorms. When the air cools, it plummets to the ground, often bringing tornado-like winds with it.
Since microbursts are a combination of wind and thunderstorm damage, your home insurance policy alone should provide coverage for any damage a microburst may cause. If you’re concerned about your coverage or if windstorm coverage is excluded from your policy, talk to your insurance agent about your wind and hail coverage options. You may be able to increase your coverage limits or even add a separate windstorm deductible to make sure your home has the protection it needs.
How to Find the Cheapest Home Insurance in Gilbert
Gilbert is a great and growing community where residents value their history and work to improve the city for the future. Let Insurify help you find the best home insurance in Gilbert so you can stop worrying about protecting your property and get back to enjoying your home in no time.
Use Insurify’s homeowners insurance comparison for your property in Gilbert.
Frequently Asked Questions
Yes, home insurance covers any damage to your property or personal belongings from various natural disasters, theft, and vandalism. The type of policy you have will affect how much your insurer can reimburse you for the damages. Just make sure you know whether you have an actual cash value policy or replacement cost coverage before you file an insurance claim.
Additional living expenses (ALE) coverage helps pay for your living expenses if you are temporarily unable to live in your home. If flood damage ruins your home’s foundation, for instance, and you need to evacuate until your home is repaired, ALE will pay for your hotel stay and food costs until you can return to your humble abode.
Yes. Plus, if you need multiple insurance products like home insurance, auto insurance, or even life insurance, bundling your policies can help you save on even the most expensive insurance premiums.
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