Beginner’s Guide to the Best Homeowners Insurance Quotes in Arizona

So you’ve just made a successful bid at your very own home in the beautiful state of Arizona. Now you feel like you’re finally an adult. One of the most adult things to do is making sure your home has adequate insurance coverage. This is where things get tricky, you scratch your head and don’t even know where to begin. Before you grab your phone to call your parents (or another adult who is much better at adulating than you are) about what to do or become frantic with looking for the best homeowners insurance quotes in Arizona, here’s an article than can help you figure out homeowner’s insurance.

Identify the Coverage You Need

Homeowners Insurance is there to help you protect your assets (i.e. your home and your belongings in it) in case are damaged by fire, theft and other factors. Below are the basic types of homeowners insurance available in the market:

  • HO-2 is a broad policy that protects ONLY against perils that are specifically named in the policy.
  • HO-3 is a much broader policy that protects against all perils unless specifically excluded by the policy. Natural disasters are typically excluded.
  • HO-5 is a type of premium policy that is quite comprehensive. However it is only applicable for new and well-maintained homes. It covers all kinds of perils except those that are specified by the policy.
  • HO-6 Insurance for co-ops and condominiums.
  • HO-7 Similar to an HO-3 policy but for mobile homes.
  • HO-8 is a policy specified for older homes and has a similar coverage to an HO-2 policy. It only covers the actual cash value of the insured property.


Shop Around

One of the best ways to get the best deal on homeowners insurance it get as many quotations as possible. If for example you are looking for the best homeowners insurance quotes in Arizona, you are not going to get it by just talking to just one agent from one company. You should at least contact three companies so you can compare coverages. A great shortcut would be to consult with an insurance broker who represents several companies. That way you can compare what companies have to offer without the hassle and leg work of canvassing.

Create an Escrow for your Mortgage and Insurance Payments

Bills payments can be quite overwhelming for first time homeowners. In order to avoid missing any of your mortgage, insurance or tax payments how about creating an escrow for all those payments and allow your lender to make the payments for you? Most lenders will have a system set up for this because they prefer to pay for the insurance themselves, that way they know your premiums are being paid and their investment protected.  

These are just some of the basic tips to getting homeowners insurance and how to get the best homeowners insurance quotes in Arizona or anywhere in the United States. Hope this helps!