You have to purchase flood insurance ahead of any disasters (policies take 30 days to go into effect), which you can do through the National Flood Insurance Program. In Arizona, wildfire can alter the landscape which in turn can result in urban and flash flooding, according to the Arizona Department of Emergency and Military Affairs. Arizona’s Department of Insurance has information regarding whether your fire-related loss is covered by your homeowners insurance policy.įlooding, the other hazard in Arizona, is usually not covered by homeowners insurance. In 2021, more than 524,428 acres burned in the state. While you won’t find coastal issues in this landlocked state, you may experience wildfires or flash flooding, two of the insurance hazards in Arizona.Īccording to the Insurance Information Institute, Arizona is the third-most wildfire prone state as of 2021 when it came to number of wildfires. According to, Arizona residents can expect to pay about $1,701 for their annual premium. In addition to property tax, you’ll have to pay homeowners insurance, which is often rolled into your monthly mortgage payment as part of your escrow account. The money collected goes to these districts to help pay for regular expenses as well as day-to-day operations. The average effective property tax rate in Arizona is 0.51%, but fully depends on the county you live in.Īrizona counties collect property taxes that include local jurisdictions, such as school districts, college districts, cities and state.
That’s over $1,000 less than the national average. For the latter, Arizona is quite affordable, with the average homeowner paying $1,707 in property taxes. After you calculate your monthly principal and interest payments, you’ll add home insurance and property taxes.
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