Facts about Home Insurance

The more you know about home insurance, the better the quality of your decision will be when selecting a policy. Learn important facts about homeowners insurance here.

Providers of Home Insurance

If you're getting Arizona home insurance quotes for the first time, you might not know who the major players are in the industry. Of course, the companies that are licensed and willing to issue policies in your individual state will vary, but we've compiled a top ten list of the biggest home insurers in the market. Keep in mind that you can get quotes on Arizona home insurance from most of these companies right here on our site.

1. State Farm - 21% market share
2. Allstate - 11.3% market share
3. Zurich - 7% market share
4. Nationwide - 4.5% market share
5. Travelers - 4.4% market share
6. United Services Automobile Association Group - 4.2% market share
7. Liberty Mutual - 3.5% market share
8. Chubb & Son - 2.9% market share
9. American Family - 2.2% market share
10. Hartford Fire & Casualty - 1.8% market share

Where Your Money Goes

Some shoppers looking for Arizona home insurance quotes think of insurance companies as greedy, overcharging monsters. In reality, the home insurance business is becoming less and less profitable. Many insurers are either beginning to discontinue this type of coverage or ceasing to offer home insurance coverage in many states. Fortunately, Arizona is not one of the states affected, so quotes on AZ home insurance are still readily available. As you shop, keep in mind that claims consume $60-$75 of every $100 insurers earn in premiums. Here is a breakdown of where home insurers' revenues go:

• Claims - 53%
• Expenses - 29%
• Profits - 12%
• Taxes - 6%