| When looking for homeowners insurance in the | | | | protect your home. |
| state of Arizona there are a few things you | | | | Valuation : To protect our investment, |
| should keep in mind: | | | | replacement cost coverage pays the amount it |
| How much to buy : Keeping in mind that the | | | | will take to replace your home with the same kind |
| purpose of insurance is to transfer risk, you need | | | | and/or quality. Actual Cash value depreciates the |
| to adequately protect your assets in the event of | | | | purchase price of your home. ACV premiums |
| a catastrophic loss. You should insure your home | | | | may be cheaper, but replacement cost will return |
| for its proper value for maximum protection. Your | | | | your home to it's pre-loss value. |
| house is a major investment, don't scrimp on | | | | Rates: Rates are affect by factors such as: |
| protecting it. Additionally, your mortgage company | | | | · Type of construction: frame houses |
| may have a set of insurance requirements you | | | | usually cost more than brick houses to insure. |
| must adhere to. | | | | · Age of house: Newer homes may |
| Coverages : Know the difference between All | | | | qualify for discounts that older homes may not be |
| Risk and Named Peril coverage. All risk is broader | | | | privy to. |
| and will cover all risks subject to policy exclusions. | | | | · Fire Protection: How far is your house |
| On the other hand, Named Perils will cover only | | | | from a fire hydrant or a fire department? The |
| the perils named (i.e., fire, lightening, windstorm). All | | | | availability of water in the event of a fire is also |
| risk may cost a little more, but it's worth it to | | | | taken into consideration when determining rate. |