Need home insurance in the Grand Canyon State? Get a quote today.
Thanks to a thriving job market and a low cost of living, Arizona is becoming one of the more popular states to put down roots. Even better? The Grand Canyon State has had only 68 federally declared natural disasters since 1953. For the most part, that makes homeowners insurance in Arizona less expensive than it is in other states.
But fewer natural disasters isn’t the same as no natural disasters. Arizona homeowners still need to be prepared for severe convective storms and the heavy rains they can bring.
Part of your preparation should be a quality Arizona homeowners insurance policy, and we can help. Our unique House & Property insurance is now available in your state. Read on to see what it covers and how it may save you money.
Kin is an admitted carrier in Arizona which means that we are fully licensed to do business in the state. Plus, we have a Demotech, Inc rating of an A - Exceptional. What this means to our policyholders is that we have the financial strength to pay claims, even under catastrophic circumstances.
As a direct-to-consumer insurance company, we consider ourselves innovators when it comes to providing you with outstanding insurance products. As such, we have developed a new policy that serves homeowners and rental property owners: a unique House & Property Insurance policy.
It doesn’t matter if you live in your home or rent it out; this policy will cover you. Combining two policies into one reduces underwriting costs, and that savings gets passed on to our customers.\Our policy starts with the standard coverage you find in most home insurance. These coverages include:
If you live in the property, you also get:
The policy automatically adjusts for those who don’t live in the property but instead rent it out. You don’t get loss of use, but rather, get loss of rental income.
Our policies cover the major perils such as fire, wind, hail, and theft. All structures are covered for the replacement costs, which means we don’t nickel and dime you with depreciated values.
The average cost of homeowners insurance in Arizona is just $850 per year, below the national average of $1,156. Working with us may help bring that cost down even more. Because our premiums are based on granular insurance data, like your home’s location, age, and construction type, their premiums more accurately reflect your home’s actual risk rather than the general risk for your area.
Rates vary widely within the state, so the best way to see if you can save is to get a quote. Enter your address now or give us a call at 855-717-0022.
One way to save on your homeowners insurance in Arizona is with discounts. We offer discounts and premium credits for:
Arizona also lets insurers use your credit history to help determine your premium, so improving your credit score can help with your insurance costs. You can often raise your scores by paying bills on time and keeping your debt to a minimum to optimize credit scores.
Finally, you might want to opt for a higher deductible. A higher deductible means you take on more financial responsibility in a claim, and that usually lowers your premiums. One important caveat about going this route: You want to make sure that you can afford the deductible you choose, even if the worst case scenario hits.
Our Home & Property policies in Arizona have two deductibles The first is the standard deductible, or an “all other perils” deductible, that applies to most claim situations. The other is a wind / hail deductible. Sometimes called a severe convective storm deductible, it applies to damage caused by thunderstorms.
You can choose a standard deductible of:
For your wind/hail deductible, you choose either a flat or a percentage deductible. These options include:
No law requires a homeowner to buy home insurance in Arizona. However, you may be contractually obligated to purchase insurance from your mortgage lender. Lenders want you to have coverage to make sure their financial interest in the home is protected.
On top of standard home insurance, you may also have to get flood insurance if you’re in a Special Flood Hazard Zone (SFHA). Homes in areas designated as a SFHA by the Federal Emergency Management Agency are required to have flood insurance if they want federally backed mortgages. Kin does not currently offer flood insurance in Arizona.
Arizona does not offer a FAIR Plan (Fair Access to Insurance Requirements), the program that helps make high-risk home insurance more available. Homeowners who are unable to get home insurance may need to contact a broker licensed to sell excess and surplus lines insurance for options.
This can happen if your home doesn’t meet the insurer’s underwriting guidelines. For example, an insurance company may decide that your property is too high of a risk to insure and decline to cover it.
A home may be uninsurable if it’s exposed to extreme risks, such as frequent and severe flooding. A home may also be deemed uninsurable if it doesn’t offer livable conditions and needs extensive repairs.
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