Best Condo Insurance In Arizona 2025

In Arizona the average annual condo insurance costs around $886 with $300,000 in liability protection, $60,000 for personal property, and an average of $1,000 in deductibles, but this can vary based on the coverage amount you want, where you are located, and what coverage you might have through a master policy.

From my time as a licensed insurance agent, I can’t stress enough how crucial it is to secure adequate coverage, which protects you financially and offers peace of mind. This guide will help you discover the best condo insurance in Arizona.

Average Cost Of Condo Insurance In Arizona

The average cost of condo insurance in Arizona is $886. The cheapest company is State Farm, at $511 per year.

The below table compares the yearly condo insurance costs in Arizona, highlighting rates from 10 of the top insurance companies.

Compare Condo Insurance Rates In Arizona – By City

The following table reveals the average condo insurance costs on a monthly and annual basis for residents in 10 of Arizona’s biggest cities.

Average Cost Of Condo Insurance In Arizona – By Building Property Limits

Choosing the correct condo insurance amount depends on the value of your condo and personal property. The initial table compares the average annual rates for various building property limits in Arizona.

Most Expensive ZIP Codes In Arizona For Condo Insurance

Cheapest ZIP Codes In Arizona For Condo Insurance

Note that the figures provided in the tables are approximate and may change depending on factors such as how much insurance you need, the location of your condo, and its structural specifics.

Don’t focus only on cost when selecting a policy. Ensure you also get comprehensive coverage and pick an insurer with high financial strength ratings and good customer service.

Is Condo Insurance Legally Required In Arizona?

Arizona state law requires condo owners who have a mortgage to carry condo insurance, specifically an HO-6 policy. That insurance policy must be maintained until such time as the loan is paid off.

Arizona state law does not require condo renters to carry insurance but it is still a good idea to invest in a policy that protects personal belongings against accidents as any landlord insurance policy will only extend to the physical structure itself and not personal belongings or improvements that you have made as a renter.

How Much Condo Insurance Do You Need In Arizona?

In Arizona, there is no one-size-fits-all solution to condo insurance. The coverage you get in terms of the amount and the type of protection is based on your needs.

1. Take time to review whether your condo association has an insurance policy and where there are gaps.
2. Take time to inventory your personal belongings and their value.
3. Take time to determine what level of additional protection you might need such as loss of use, or liability.

Also consider your other assets such as savings accounts, deductibles, and deductibles on the master policy for which you are responsible.

What Does Condo Insurance Cover In Arizona?

Condo insurance, called HO-6 insurance, is a type of homeowners insurance that applies specifically to condominiums.

It is important to note that a condo insurance policy will only cover specific causes of damage to the interior of your condo including:

1. Walls
2. Floors
3. Cabinets
4. Fixtures

The exterior to the building is typically covered by the homeowner’s association. You can pick a policy with coverage amounts between $100,000 or $500,000 for liability as well as loss assessment. You can also invest in additional coverage for things like loss of use, personal belongings beyond the interior structure, or personal liability.

How To Find The Best Condo Insurance Company For You

Considering your condo may be your most prized asset, it’s important to get the right coverage to protect against financial loss. Finding a policy tailored to your specific needs will take time and effort.

Finding the right coverage means working with the right insurance provider. Before jumping into a policy, take some time to review at least three companies side by side.

Consider things like:

1. The premiums
2. Any discounts that apply to your situation
3. How long the company has operated in Arizona
4. Customer reviews
5. The riders they provide

Remember that the cheapest may not always be the best for your needs.

You can compare rates online or get help from an agent and when you are ready to pick your carrier, you can start your new policy immediately.

To assist you in this process, here are five steps you can take to safeguard yourself, your family, and your belongings:

1. Determine how much condo insurance coverage is necessary for your needs.
2. Research condo insurance companies online and pick three that you trust the most.
3. Ask each of them for a quote.
4. Compare the coverage options, rates, financial strength, customer satisfaction, and discounts.
5. Apply for coverage with the company that offers the best overall value.

Factors That Impact The Cost Of Your Condo Insurance Policy

These four factors have a major impact on how much you pay for condo insurance in Arizona:

Physical Address

Holbrook, Tucson, and Yuba have higher than average rates of property crimes so condos in these areas will likely face a higher premium because of the increased risk of things like burglary. Additionally, areas that are prone to natural disasters like storms, wildfires, and lightning strikes will also be viewed as an increased risk to insurance providers and come with increased premiums.

Age and Building Materials

In Arizona, fire resistant construction materials can help decrease your insurance costs as can newer construction overall because it means a reduced risk of claims. However, older condos can come with an increased risk of claims and subsequently an increased risk to premium costs.

Replacement Cost

Replacement costs will directly influence the coverage rates you get. The amount of coverage you want is based on either your square footage or the appraised value. If you have higher quality fixtures or material, or you live in a city with more expensive labor rates, your premiums might be higher because of these associated repair and replacement costs.

Claims History

When you take out a policy and insurance company will look at your claims history. A clean claims history can be leverage for lower premium negotiation but conversely a history of multiple insurance claims especially in the last few years might cause your premiums to go up.

Compare Condo Isurance Rates By State