The average annual cost for homeowner’s insurance in Arizona is $695, according to Value Penguin. While this is lower than the national average, you still might be able to save money on the annual premium when you buy a newly-constructed home in Scottsdale.
Insurers love new homes and for good reason. Not much is likely to go wrong for years and, if the home is built of stone, brick or concrete, the fire risk is quite low, which will save you even more money on your insurance premium.
Let’s take a look at three other tips to save money on your homeowner’s insurance when you buy a new home in or around Scottsdale.
1. Do you really need all that square footage? The smaller the home, the less money you’ll spend on homeowners insurance. This is because the premium is based on the cost to rebuilt the home, not on its market value.
2. Fortify the home. Insurers will typically give you a break if you have a reinforced roof, storm shutters, or other reinforcements that protect the home. Speak with your insurance agent, however, before approaching the builder about these additions.
3. Safety saves – money. Interior sprinklers, smoke detectors, alarm systems and other safety features may pay off in more ways than the obvious; they typically help lower homeowners insurance premiums.
Your insurance agent has lots of information on what you can do to save money on homeowners insurance so meet with him or her at the beginning of the construction process.