Phoenix home insurance costs aren't nearly as affected by natural disaster claims like other areas of the country such as Florida or California. However, you still want to make sure you're getting the best value for your dollar. Here are some tips.
You can get an idea of comparative insurance rates for residences in Phoenix, Tucson, Mesa, Flagstaff and Peoria by checking out the premium survey on the Arizona Department of Insurance Web site. This survey gives you cost comparisons for a specific type of home with specific coverages.
This survey is probably not that helpful to know what you will pay, but it can give you a list of some companies that might be competitive. One of the best ways to save on home insurance is to get some quotes from several different companies. You should get at least three. In this case, you would need to contact each company and request a quote. You can call them, or visit their Web site and get one online.
To get the most accurate comparisons, provide the same information to each company about your property, the coverages you need and the deductibles you want. For example, you may want extra coverage if you have a swimming pool or lots of personal possessions. Jot these down ahead of time, or have your current policy handy.
You may find it more convenient to visit an online insurance comparison site, where you only need to enter your information once and then you'll get several quotes back.
Once you get quotes, you may be able to lower your premium further a couple of different ways:
1. Increase your deductible. This could lower your premium quite a bit.
2. Take advantage of discounts. If you have a hard-wired burglar or fire alarm system, updated electrical, a new roof and more you may be eligible for a discount. Also, most companies will reduce your premium if you also insure your vehicles with them.
Finally, it's a good idea to check out the financial stability of the company that you decide to go with. There are several rating agencies such as A.M. Best, Weiss, Standard & Poor's, which provide financial ratings of insurers. You can find these on their Web sites. Also, you can check with the Arizona Department of Insurance to see if any complaints have been filed about the company.