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Homeowners Insurance

Home Insurance Basics

Whether you’re at home or away, you want to know that your belongings are protected. That’s why everyone needs homeowners insurance. It protects your home and belongings in case of fire, smoke, vandalism, theft, hail or similar events. It also covers your personal liability in case someone is injured while on your property—like when the mailman trips over your kid’s skateboard.

It’s important to remember that you will usually have to purchase additional coverage if you want to insure your home in case of flood or earthquake--luckily earthquakes aren't common in Cottonwood and flooding only happens occasionally. Other things that aren’t covered by most basic policies are pool injuries, damage done by termites, water damage from sewer backups, and sometimes mold removal, depending on the cause of the mold.

How Much Insurance Do I Need?

The amount of homeowners insurance you will need to purchase depends on a variety of factors. To put it simply, you will need enough to cover the cost of rebuilding your home based on what it is worth today. Depending on the bank your mortgage is with, you may need to purchase enough policy to cover the amount of the mortgage.

Some factors that cause the price of your policy to vary are the age of your home, the coverage, limits and deductibles you pick and where your home is located. If you live in an area prone to severe weather, you may need to pay more.

The average annual cost in Arizona is $695, or $57.94 a month. To find out what you will pay for homeowners insurance in Cottonwood, give us a call or get an online quote today!

So How Much Insurance Do I Need?

You can estimate how much it will cost to rebuild your house by finding out the average cost per square foot in the place your home is built. Keep in mind that any upgrades your home has, like custom woodwork, arched windows or other specialty features, will cost more to replace. So you will need to buy additional coverage if you want these items to be covered too. Here are some other features that can add to your rebuilding costs:

  • A finished or partially finished basement

  • Additional rooms

  • Garages or sheds on your property

  • A fireplace or other similar feature


Your agent can help you figure out how much your home will cost to rebuild. If you want to get an idea before talking to an insurance agent, you can consult your real estate agent or your local building association. You can also hire a surveyor if you want an exact figure. It’s important to purchase enough policy to cover the rebuild of your house in the case of total destruction because if you don’t, you will be the one who has to cover the difference.

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