The Best Renters Insurance In Arizona | Get Cheap Coverage, Fast! (Jan 2024)
How Much Is Renters Insurance In Arizona?
The average cost of renters insurance in Arizona is $15 per month or $180 per year. The cost of coverage in Arizona is more affordable than the U.S. average of $187 by about $7 per year when renting an apartment or house.
Who Has The Cheapest Renters Insurance In Arizona?
Lemonade has some of the best cheap renters insurance rates in Arizona, and they offer one of the easiest and fastest ways to get renters insurance coverage.
However, renters should compare rates and policies with multiple companies to ensure they get the best deal for themselves.
With Lemonade, you can also bundle your homeowners insurance and very soon bundle auto insurance policies as well to get even lower rates on your coverage overall.
What Factors Impact The Renters Insurance Premium?
The renters insurance cost in Arizona will vary depending on several factors such as:
Where you live – Different cities in Arizona will always have a different renters insurance rate, depending on environmental risks, such as fire and crime. If your home or apartment has security cameras or you live in a gated community, this could also reduce your cost.
Your deductible – A higher deductible usually means lower monthly payments. Would you instead pay less monthly and more at once, or would you instead pay more monthly and a lower deductible if you need to use your coverage? It depends on what is best for your budget and your personal belongings.
How much coverage you need – What items are you covering? If your belongings have a value that exceeds the minimum coverage, you might want to increase the limit on your renters insurance policies. However, such a change might increase the cost of your renters’ insurance.
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What Does Renters Insurance Cover In Arizona?
In Arizona, renters insurance, also called personal property insurance, covers everything you own that’s portable, temporary housing if your home becomes uninhabitable, and injuries sustained by other people at your residence.
Coverage options include:
More specifically, a renters policy typically covers:
Personal Property Coverage
Personal property coverage means that if something happens to your belongings, the insurance company will give you money to replace them at either cost or current value (depending on your type of policy).
Personal Liability
Personal liability insurance will cover you if someone decides to sue you after getting hurt at your house. The insurance company will pay the legal costs and any settlement to the injured party.
Medical Payments
Medical expenses go hand in hand with personal liability protection. So, for example, if someone sues you because they hurt themselves at your house, this coverage will take care of their medical bills.
Loss Of Use (also called Additional Living Expenses – ALE)
Loss of use coverage means that if something happens to your home and cannot live there because of the damage, your insurance company will reimburse your living costs.
What Does Renters Insurance Not Cover In Arizona?
Renters Insurance usually will not cover anything outside your dwelling and might not cover property damage for all perils.
Below is a list of a few things usually not covered on your renters’ policy:
Will Renters Insurance Cover My Roommate In Arizona?
With such high housing costs, many Arizona residents have roommates to offset expenses.
However, renters insurance does not cover any damage costs associated with your roommate’s belongings unless they are listed on the policy, and you split the cost of renters insurance.
Renters insurance will cover anyone listed on the policy. Thus, if your roommate’s name is on the policy, they have coverage.
However, we would not recommend adding roommates unless they are related or a spouse. Adding a non-relative to your policy may save you some money, but it will split coverage among all those assigned to the policy.
So if your policy covers up to $20,000 in damage, you and your roommate would only be covered for up to $10,000 each.
Is Renters Insurance Required By Law In Arizona?
A renters insurance policy is usually not required by law in Arizona, although many landlords may require it for you to live on their property. The landlord’s insurance will only cover the building you live in, so it is wise to consider protecting your property with renters insurance.
Can A Landlord Require Renters Insurance Coverage In Arizona?
Yes, a landlord can require renters insurance in Arizona. Since most landlords will make renters insurance required, a landlord can have you put their name or the property manager’s name as an “additional insured” individual on the policy and also may require a minimum amount of coverage.
How To Reach The AZ Department Of Insurance?
The best way to contact the Arizona Department of insurance is by phone at (602) 364-3100.
If you are going to email them, send your message to insurance.consumers@difi.az.gov.
You can reach the Arizona Department of Insurance at the below address:
Arizona Department of Insurance and Financial Institutions
100 N. 15th Avenue, Suite 261
Phoenix, AZ 85007-2630
For more information about the Arizona Department of Insurance, you can visit their website at: https://difi.az.gov/
RENTERS INSURANCE WHERE YOU LIVE
Renters insurance by state.
As a home renter, there are insurance policies available for you.
With quality Renters Insurance, you can protect your home and everything inside it. For more information, click on your state.
Where Can I Apply For Renters Insurance In AZ?
Applying for renters insurance in Arizona is easy and can take just a few minutes. The best way to get quotes and apply for coverage is online because most companies have a free online process that will deliver a quote within seconds or minutes.
1
Get Your Personal Information Together. You will need your name, address, and Social Security number. The online forms guide you through several questions to learn more about the rental you will be living in and what coverage you need.
2
View Your Instant Quote. Once you have your info, you want to click here or any of the above buttons to start the quote process. Once you have your quotes and pick the coverage option that works best for you, it’s time to get covered.
3
Start Your Online Application. Once you have all of your personal information together, your next step will be to start the application. Again, this will be easy by just following the prompts after you complete your quote.
4
Pay For Your Policy & Print Your Proof Of Insurance. Once your policy has been approved and paid for, simply print out your proof of insurance, and you’re covered.
Taking Action
If you are a tenant and live in Arizona, it is essential for you to protect your belongings with renters insurance.
With any luck, you know everything there is to know about insurance for your rental or apartment and if insurance in Arizona is required by law.
There is no need to wait around; you can click here or on any of the above buttons to get instant quotes and get covered today.
Frequently Asked Questions
How much is renters insurance per month in Arizona?
Renters insurance costs $15 a month on average in Arizona, however, the average cost of renters insurance varies by the size and value of your rental property, so you might find renters insurance is cheaper if it’s worth less than $100K or more expensive for those with larger properties worth over $400K.
What is the best renters insurance in Arizona?
Arizona’s best renters insurance company is Lemonade because they have some of the best coverage options, affordable premiums and can cover you in less than 5 minutes 100% online. Lemonade offers renters insurance in Arizona for as little as $15 per month.
Is renter’s insurance worth it?
Yes, renters insurance is worth it because it protects your possessions and has other benefits such as paying for some personal property losses, such as the cost of repairing or replacing the furniture that is damaged by fire from a lightning strike.
What is a reasonable renters insurance rate?
The average renters insurance cost in the United States is $168 per year or about $14 per month. This estimate is based on a policy for a hypothetical 30-year-old tenant with $30,000 in personal property coverage, $100,000 in liability coverage, and a $500 deductible. If you can get your monthly premiums as close as possible to your state’s average, that is a good renters insurance rate.
