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The pictures speak for themselves. Watching television, home ownership appears to be secure, comfortable, idyllic and never a hassle. Reality is, one overflowing washing machine, bursting hot water heater or a flood and all bets are off.

A lot of home owners question their sanity and ask why they ever bought a money pit, especially after a home fire or other in-house disaster.

Step back a bit here, because it does not have to be all doom and gloom. A little product called home insurance takes away the fear, dread and relieves many of the hassles that strike fear in home owners.

Be sure to always compare quotes by using the FREE tool located above!

It's worth noting that home insurance never includes flood insurance. That means if mother nature creates a flash flood that carries away your house or water logs it, there is nothing in your home insurance that covers it. Instead, flood insurance is offered by the government.

The only caveat? You have to live in an area designated as prone to flooding.

State-by-State Differences

For the purposes of this article, the focus is only on home insurance in Arizona. Seismology, topography, population density, rain fall, and hurricanes are not evenly distributed across the states, and that's why you need to find agents who know Arizona insurance and how mother nature rolls on through here.

The State of Arizona provides a thorough exploration of home owner insurance.

Types of Home Insurance

  1. Mobile Homeowner's Policy
  2. Condominium Owner's Policy
  3. Homeowner's Policy
  4. Renter's or Tenant's Policy

Normal Exclusions Apply

Well, more than flooding is excluded from a normal home insurance policy. This includes every policy for which you are applying for Arizona home insurance quotes.

  1. War
  2. Neglect
  3. Earth movement
  4. Power failure
  5. Nuclear hazard
  6. Vehicles
  7. Animals
  8. Flooding
  9. Water damages from sewer backups and drain clogs
  10. Mold
  11. Fungi
  12. Wet rot
  13. Dry rot

Buy Business Insurance Separately

Another surprise many homeowners forget is when they start a business out of their home. They may have opened a little side business as a result of economic changes, such as losing their third job in as many years.

The homeowner's insurance does not include covering any damages related to running a business from your house. That's why business insurance exists.

More Exclusions

Keep in mind that there are some other surprise exclusions and limits, such as stamp and coin collections, cash, securities, furs and jewelry. Fire arms, antiques, arts and even computers are excluded or limited in their coverage.

Ask Arizona insurance agents about special riders you can buy to have these special items covered to the extent you need.

Make A Contents List and Check It Twice

Listing all of your contents along with the cost helps you in two ways. First off, it gives you an inventory. Keep copies off-site, not at your house, in case your home is destroyed and you need to tell the insurance company what you lost.

Second of all, an inventory lets you see the value of contents. It's a great way to hint at how much insurance to buy. If you want normally excluded items added to the policy, just ask your insurance agent to make changes to the policy.

Do they reimburse based on actual value?

This is a great question. Most policies these days automatically factor in the cost to replace your items at today's prices. This is known as replacement
cost coverage.

Though, do not assume that's the type of policy stipulation you will enjoy. Read the policy. Look for the terms actual cash value, which means that the insurer only pays out what the worn out, 15-year-old couch is worth now.

Many policies include an aspect of actual cash value for personal items and replacement cost for replacement of the home.

How to Save Money on Your Policy

Savvy shoppers know to compare quotes among the top insurance companies in Arizona. Additional ways to save money include the following steps:

  1. Install smoke detectors near and in bedrooms
  2. Install security alarms
  3. Have working locks
  4. Have working fire extinguishers
  5. Increase your deductible
  6. Enjoy a nonsmoker discount, if you do not smoke
  7. Stay with the same insurer long-term for a loyal customer discount
  8. Buy multiple policies (called lines) with the same insurer to maximize savings.

How do insurance companies determine policy premiums?

The insurance companies evaluate the likelihood that they will have to pay out money. If you have an older home, maybe there is a greater chance for fire from faulty wiring, so the policy would cost more than on a newer home. Older homes in general cost more to insure.

The surrounding neighborhood and crime levels influence the cost of home insurance also.

The insurance companies look at the quality of fire services and actually rate fire departments throughout the state. Poor response means that insurance rates will be higher. Insurers also take into account the construction type, your personal claims history and credit score to determine policy premiums.

Keep your insurance up to date by evaluating your policy at least once a year. Let's say you had a stellar year and you bought a whole new full-house integrated entertainment center that you did not have last year. Compare quotes among different insurers to make sure you are covered for the most competitive price.

On the converse, what if you lost your job, sold off the electronics and your twins just moved out into the real world? Evaluate the value of your contents after selling off or moving your daughters out of the house. It might just save you money.

Buying home insurance is not the ideal way to spend a weekend. Though, with a little guidance, comparing rates online is a breeze.

Decide what you need, make the dreaded inventory and buy the most affordable policy you can. By using the FREE comparison tool, you can be sure you're getting the best price for you rneeds!

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