Best cheap homeowners insurance in Mesa

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Homeowners insurance Mesa costs $1,197 per year for $250,000 in dwelling insurance. It is just slightly higher than the state of Arizona’s average rate of $1,189 per year. Mesa’s homeownership rate is relatively high at 60%. However, the median household income is $58,247. Many household budgets are stretched — finding cheap home insurance premiums in Mesa can bring a tight budget some relief.

The good news is, Bankrate found carriers that provide home insurance in Mesa for as little as $592 per year. That is half the average at roughly $50 per month in premiums, compared to $100. The question is, who are these cheap home insurance companies and are they reputable? You may be surprised and relieved to hear they are. We looked at the cheapest carriers and compared financial ratings, customer reviews, size of the carrier and years in business to make sure that switching is safe.

Best cheap home insurance companies Mesa

You will find that the five cheapest carriers we feature are among the largest and best home insurance companies in the country. Part of the reason rates are lower is the type of discounts they offer. For now, here is a quick overview of the cheapest home insurance companies in Mesa:

Home insurance company Average annual premium for $250K dwelling J.D. Power score
USAA $592 889/1,000
Nationwide $733 808/1,000
Progressive $772 797/1,000
AAA $898 825/1,000
State Farm $965 829/1,000

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

USAA

USAA has the cheapest home insurance in Mesa with an average annual premium of $591. In addition to low home insurance rates, USAA consistently receives a high customer satisfaction score in J.D. Power’s annual home insurance study. USAA has been in business since 1922 and has 13 million members who have exclusive access to the provider’s financial and insurance products. To qualify for membership and access home insurance, you must be a veteran, retired or active duty military or a close relative.

Nationwide

Nationwide is the next cheapest home insurance company in Mesa. A policy averages a little over $60 per month or $733 per year. Nationwide has a few discounts that may help you save more on your insurance. If you live in a recently renovated home or bought a new-construction house, there is a discount for you. In addition, homes located in a gated community can save, since Nationwide believes they are safer. Then there is a protective device discount, that lowers your insurance rate if you have deadbolt locks, an alarm system and/or smoke alarms.

Progressive

Progressive was founded in 1937. If you are willing to bundle your home and car insurance, you could save quite a bit with Progressive Insurance. According to the company, new customers who switch to Progressive can save 20% on average when they bundle their coverages. Other discounts include new homeowner if you bought your home in the last 12 months or safety if you install a security system.

AAA

You are probably familiar with AAA for roadside assistance or travel services. But AAA comes with an annual membership fee. However, you can buy AAA’s home insurance even if you are not a member. Getting coverage with the carrier can be affordable and convenient — AAA sells flood and earthquake insurance as well, which many carriers do not offer.

State Farm

State Farm is not the cheapest carrier on the list (on average) but you may be able to get a lower quote based on the discounts you qualify for. The company has been around since 1922 and is the largest insurance company in the U.S. State Farm claims that bundling home and auto insurance can save you up to $965 per year. You may be able to get additional discounts for having a home security system and a reduction based on the type of roof you have.

Mesa home insurance recommendations

You do not legally have to have homeowners insurance in Mesa but your lender may require it until you pay your mortgage off in full. However, home insurance provides you with financial protection and peace of mind. Wildfires and burglaries are real threats in the area. Paying a small monthly fee for coverage far outweighs rebuilding your home out of pocket, or having to replace all your belongings. Mesa residents should consider the following special home insurance coverages:

  • Equipment breakdown coverage: The coverage pays to repair or replace your home’s appliances or systems. If your air conditioner or refrigerator goes out in the middle of summer, you may be covered.
  • Replacement value: Standard home insurance policies pay out actual cash value, meaning you get a deducted amount for the item, based on its age and condition. Upgrading to replacement value may make life easier by allowing you to buy a new version of the item.
  • Scheduled personal property: Guns, antiques, collectibles, art, diamonds and heirloom jewelry are typically not covered to their full value in a standard policy. You would need to insure them separately using scheduled personal property coverage.

Home insurance discounts in Mesa

Home insurance companies generally have discounts available for conditions that can reduce the likelihood of claims. It is a win-win situation. You get a discount and they encourage you to do something that lowers the risk of a loss. Some discounts include:

  • Recent remodel: Upgrading your home’s wiring, plumbing or fixtures reduces the chances of electrical fires or water damage, earning you a discount.
  • Fire prevention: Having a fire-resistant roof or home siding, or clearing your landscape from brush can lower your chances of fire — and save you money on your premiums.
  • Protective device: Installing deadbolts and a home security system keeps thieves out. It also helps lower your home insurance premiums.

Frequently asked questions

What is the best home insurance company in Mesa, AZ?

The best home insurance company is different for each Mesa resident. The best home insurance company for you will depend on the coverages you want to carry and your personal rating factors. You will want to compare providers by getting different quotes. You will also want to compare available coverages, discounts you may qualify for, customer satisfaction scores and financial strength ratings.

How much does home insurance in Mesa cost?

Homeowners insurance Mesa costs $1,197 per year for $250K in dwelling insurance. However, Bankrate found four carriers with rates as low as $592 per year.

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