Average homeowners insurance cost in Phoenix, Arizona

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The average cost of homeowners insurance in Phoenix is $2,886 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $304 more than the national average of $2,582 .

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Phoenix depend on a number of factors, including:

The size of your home
The age of your home
The amount of coverage you need
Where you live
Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read our guide to discover the monthly homeowners insurance cost in Phoenix, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Phoenix.

Key Takeaways

Homeowners insurance costs $2,886 per year in Phoenix.
At $1,688 per year, State Farm offers the cheapest homeowners insurance in Phoenix.
Your home insurance rates increase by $684 more annually if you increase your dwelling coverage from $200,000 to $300,000.

Average homeowners insurance cost in Phoenix per month

Phoenix homeowners pay an average of $241 a month. It’s $35 more than the state average of $206 and $26 more than the national average for home insurance across the nation. The price of your homeowners insurance policy in Phoenix may vary depending on where you live, the value of your home, and the coverage you choose.

Average homeowners insurance cost for a $200,000 house

Homeowners insurance with $200,000 in dwelling coverage and $100,000 in liability protection costs about $2,202 per year in Phoenix. Your rate can vary based on a number of factors, especially the risk of natural disasters in your area. Places more prone to floods, hurricanes, or tornadoes often face higher rebuilding costs, which leads to higher insurance premiums.

It is important to note that your insurance plan may not cover flood or hurricane damage. So, if you live in an area prone to flooding, consider buying flood insurance coverage.

Average homeowners insurance cost for a $300,000 house

Phoenix residents pay an average of $2,886 per year to insure a home for coverage limits of $300,000 dwelling, $100,000 liability with a $1,000 deductible. To increase your dwelling coverage from $200,000 to $300,000, you’ll pay an additional $684 per year.

The smartest approach is to carry enough insurance to cover the full cost of rebuilding your home.

Average homeowners insurance cost in Phoenix by company

Among the carriers we analyzed, State Farm is the most affordable homeowners insurance company in Phoenix, offering an average annual rate of $1,688 , while American Family ranks second.

Researching a company thoroughly before selecting a homeowners insurance policy is essential – and we can help with that. We took a close look at all the insurance companies serving Phoenix and put together a list of the most affordable ones.

Here’s a look at the top home insurance companies in Phoenix and what you can expect to pay with each one on average.

Home Insurance Company	Annual rate
State Farm	$1,688
American Family	$1,861
Nationwide	$2,228
Farmers	$3,930
Travelers	$6,534
Allstate	$2,328
USAA*	$2,327

*USAA is only available to military community members and their families.

Many insurance companies offer discounts to customers who bundle their policies. By combining your home insurance policy with other policies, such as auto insurance, you can lower your premiums and simplify your insurance management with one provider.

Natural disasters in Arizona that can impact your home insurance

Living in Arizona comes with the threat of natural disasters, which can cause significant damage to homes and property, often resulting in costly insurance claims. Understanding which natural disasters are most common in your area is essential when selecting a home insurance policy.

By knowing the specific risks in your region, you can make informed decisions about coverage limits, deductibles, and whether you need additional protection. That knowledge ensures you’re not left underinsured when disaster strikes and protects your financial well-being in the long run.

Arizona is commonly affected by Drought, Heat wave and Wildfire.

How home insurance protects you against natural disasters

Home insurance is an essential safeguard for your financial well-being, offering protection if you’re affected by a natural disaster. Natural disasters can lead to costly damage, but the right policy can help cover the cost of repairs, sparing you from major out-of-pocket costs. In many cases, home insurance also pays for temporary living expenses if you can’t live in your home.

However, not all natural disasters are covered under a standard home insurance policy. For example, flood and earthquake damage are excluded and require separate coverage. That’s why it’s so important to understand the specific natural disaster risks in your area. By doing so, you can choose a policy that truly protects your home – and your finances – from the threats that are most likely to affect you.

Pro tip: Review your policy annually

There’s little time to prepare for a natural disaster, and it’s too late to make changes once a storm is on the radar. Make sure your homeowners insurance includes coverage for the types of disasters common in your area. Standard policies don’t always cover everything, like flood damage, so double-check exclusions and consider add-ons if you need them.

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.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.