Everyone needs Arizona home insurance. The real question is “how much do I have to pay for it?”  That depends on many different factors.

There is no single more individual decision than how much coverage you need, because that depends on so many factors specific to only you.  You are the one who understands your financial situation and how much loss you can afford to take. You should visit https://arizona-insurance.website/arizona-home-insurance-quotes/ to get a few quotes or read on to learn more.

Where you live and home insurance

Pricing takes into account the location of your residence. Are you in an urban, high-crime setting or out in the country? Both have their pluses and minuses. If you are at risk of break in and do not have a burglar alarm, it’s going to cost you. But if you live too far away from a fire station, that is also a safety risk. It is a balancing act and that’s why comparing various carriers and their coverage is the smart thing to do.

If your home is wooden it may be considered more of a fire risk than a brick or stucco home. Insurance is usually not a consideration when we buy a dwelling, but perhaps it should be.

If you live in a condo you are only responsible for covering the contents, but you should make sure you understand the kind of structural coverage the association has on your behalf.  Again, this is something owners usually do not think of doing.

How much deductible can you pay? Keep in mind that low deductibles mean higher premiums. This is another thing you have to weigh, depending on your personal situation. Make a comparison of deductibles and coverage.

Finding Arizona home insuranceReplacement value as it relates to home insurance

When it comes to home replacement value you can choose replacement cost or actual cash value. There may be reasons why you would prefer to get actual cash value, or the amount of money necessary to repair or replace damage. Be aware that that number is going to include depreciation.

An important factor is making certain replacement value is accurate. You may not agree with the value your carrier wants to set and you can usually appeal this with your own estimate. If you have done any renovation or improvement, be sure you have included it.

These are some of the most important factors that you would need to consider as you compare carriers and coverage.  There are more, but if you start with these you’ll get a pretty good idea of the cost.

May 11th, 2015

Posted In: Homeowners Insurance