Best cheap homeowners insurance in Chandler

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The homeownership rate in Chandler, Arizona, is 63%. Having home insurance coverage in Chandler is essential to protect your investment, especially when you consider that the median sales price these days is $455,000. The average cost of homeowners insurance in Chandler is $1,097 per year for $250,000 in dwelling coverage. However, you may be able to beat the city’s average if you know how to find cheap home insurance in Chandler.

Bankrate collected quotes from the best home insurance companies operating in the area and averaged them out to provide you with an idea of how much you can expect to pay for homeowners insurance. Price is only one factor. To bring you a shortlist, we also reviewed customer ratings, policy options and the carrier’s financial strength.

Best cheap home insurance companies Chandler

The following carriers have the cheapest rates in Chandler. To keep it simple, we rounded up quotes for an annual policy with a limit of $250,000. The J.D. Power score is important. J.D. Power conducts independent annual studies by region that ask current policyholders how they feel the carrier they are with performs in categories such as claims process, communications, billing, offerings and prices. Insurance companies that score higher in the study tend to have the happiest customers.

Home Insurance Company Average Annual Premium for $250K dwelling JD Power Score
USAA* $551 889/1,000
Nationwide $678 808/1,000
AAA $695 825/1,000
Progressive $728 797/1,000
Allstate $938 829/1,000

*USAA is not eligible for official ranking with J.D. Power due to eligibility restrictions

USAA

Based on our findings, USAA is the cheapest home insurance company in Chandler with an average annual premium of $551. That’s about $45 per month for peace of mind. In addition to the low premiums, USAA consistently receives high marks in J.D. Power’s annual home insurance study. Buying a USAA homeowners insurance policy comes with replacement cost coverage included. It could make your life easier in case of a loss — you will be able to replace items with new versions instead of receiving a reduced cost based on the age and condition of your lost items.

The main drawback to USAA is its membership-based, limited availability. USAA insurance is only available to veterans, Armed Forces personnel and qualifying close family members.

Nationwide

If you are unable to qualify for USAA membership, the next cheapest home insurance is Nationwide’s. A policy averages $678 per year for Chandler homeowners. Nationwide has a series of discounts that could help you reduce the cost of coverage.

If you live in a newer or recently renovated home, you will save on your premiums. Homes in a gated community qualify for a discount. Adding protective devices such as a fire alarm, carbon monoxide or smoke detectors, fire alarms or a home security system could lower your rate even further.

AAA

AAA is best known for roadside assistance and the travel services you have access to if you are a member. You can also purchase a home insurance policy in Chandler if you are a AAA member. Besides the standard HO-3 coverage, you can buy flood, earthquake, umbrella and scheduled personal property insurance.

Scheduled personal property coverage could be vital. Most insurance policies limit items such as jewelry or electronics. If you have collectibles, art, computers, watches or high-end jewelry valued at over $1,000 adding a scheduled personal property endorsement for the items will ensure they are covered.

Progressive

You can get a quote and buy homeowners insurance coverage through Progressive’s website or by contacting a local independent agent in Chandler. Progressive is well-known for its innovative use of technology. The robust mobile app allows you to file claims, manage your coverage, view your insurance policy documents and make payments.

The Homequote Explorer tool on the Progressive website allows you to save time shopping around for homeowners insurance by providing you with quotes from multiple carriers all at the same time.

Allstate

Allstate is one of the cheapest carriers for home insurance in Chandler and ideal for remote workers or home businesses. You can add coverage to your basic homeowners policy for work equipment such as computers and printers, as well as include the value of any inventory you keep at home.

Another unique add-on you will not find with other carriers is yard and garden insurance. It adds additional coverage for trees, landscaping and equipment such as power tools or lawn mowers.

Chandler home insurance recommendations

Homeowners insurance is not mandatory in Arizona. However, your lender may require it as long as you continue to pay a mortgage. Even if home insurance is not mandatory, you may want to keep a policy in force. Compare the cost of rebuilding your home and replacing its contents after a fire to the monthly cost of $50 per month for an HO-3 policy. Some additional coverages worth the added expense are:

  • Scheduled personal property: If you have higher-value items such as fine watches, designer handbags or art, getting specific coverage for the items may help to protect against financial hardship
  • Equipment breakdown coverage: Similar to a home warranty policy, it covers the cost of fixing or replacing items or systems that break down. This could potentially save you money if your central air breaks down in the middle of summer.
  • Replacement value: Most home policies are cash value, meaning you will receive the cost of coverage minus depreciation. Replacement value coverage will authorize the purchase of new versions of the items.

Home insurance discounts in Chandler

Even if you find coverage at a low rate, you may still be able to get further reductions by taking advantage of a carrier’s discounts. Chandler residents should consider:

  • New construction: If you live in a newer-home or plan on buying new construction, you could receive a discount on coverage.
  • Claims free: If you have no previous home insurance claims, a claims-free discount may be available.
  • Bundling: Adding auto insurance in addition to homeowners insurance qualifies you for a bundling or multiline discount.

Of all the discounts available, bundling your auto and home insurance may be the most significant savings. You will likely receive a discount on both your car and home insurance policies.

Frequently asked questions

What is the best home insurance company?

The best home insurance company depends on a number of factors, including what kind of coverage you are looking for and other rating factors. You will want to compare carriers to find the best provider for your own personal home insurance needs by looking at rates, available coverages, discounts you may qualify for and customer satisfaction ratings.

How much does home insurance in Chandler, AZ, cost?

The average cost of home insurance in Chandler is $1,097 per year for $250,000 in dwelling coverage. However, some carriers have rates as low as $551 per year.

How much home insurance do I need in Chandler?

To decide on how much insurance you may need, do research on what the current cost of building is or ask your agent for help in estimating. As for your personal property, estimate the value of all your belongings and add it up.

Methodology

Bankrate utilizes Quadrant Information Services to analyze rates for all ZIP codes and homeriers in all 50 states and Washington, D.C. Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

  • Coverage A, Dwelling: $250,000
  • Coverage B, Other Structures: $25,000
  • Coverage C, Personal Property: $125,000
  • Coverage D, Loss of Use: $50,000
  • Coverage E, Liability: $300,000
  • Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes may be different.

Rates are determined based on 2020 Quadrant Information Services data.

Written by
Cynthia Paez Bowman
Personal Finance Contributor
Cynthia Paez Bowman is a finance and business journalist who has been featured in Bankrate, Business Jet Traveler, MSN, CheatSheet.com, Freshome.com and TheSimpleDollar.com. She regularly travels to Africa and the Middle East to consult with women’s NGOs about small business development and works with select startups and women-owned businesses to provide growth and visibility.
Edited by
Insurance Editor