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By: Ramu Garuda January.15, 2019

Gavop’s analysis found that homeowners in Casas Adobes, Arizona, who opt for lower deductible plans of $500 can save as much as $1,880 in total yearly spending compared to those who buy higher deductible plans of $2,500. Gavop considered a hypothetical claim amount of $2,500 to arrive at this finding. Casas Adobe’s citizens pay a median yearly premium of $780 for a plan with a $500 deductible, whereas they pay $660 for a higher deductible of $2,500.

These numbers are significantly different from the statewide values in Arizona. For a hypothetical claim of $400, Arizona’s homeowners save about $160 if they choose the higher deductible plan. Their median yearly premiums are $860 under the lower deductible plans and $700 for the higher deductible ones.

The study also analyzes home insurance premiums across 10 locations within a 50-mile radius of Casas Adobes. For a hypothetical claim amount of $1,500, homeowners of Marana save $820 if they choose the lower deductible plan. The median  premium on this plan is $1,190. For a $2,500 deductible plan, Marana homeowners pay a median premium is $1,010.

In Saddlebroke, for the same claim amount, the net savings with the low deductible plan is $750. For this deductible plan, homeowners pay a yearly median premium of $1,540. For the higher deductible plan, they pay $1,290.

For a hypothetical claim amount of $500, homeowners with the higher deductible plan save $290 in Tanque Verde, but only $120 (less by $170) in Oracle. The median home insurance premiums paid in Tanque Verde are $1,430 for the $500 deductible plan and $1,290 for the $2,500 plan. In Oracle, these numbers are $1,480 and $1,270, respectively. In Eloy for the same hypothetical amount, homeowners with the higher deductible save $70. They pay $370 for the $500 deductible plan and $650 for the $2,500 deductible plan.

The table below calculates the net savings between the two deductible plans against hypothetical claim amounts in 10 locations within a 50-mile radius of Casas Adobes. In addition, it estimates the average yearly premium and the total yearly cost of insurance in the same locations.

Low Deductible ($500) High Deductible ($2,500)
Place Hypothetical Claim Amount Yearly Premium Total Yearly Cost Yearly Premium Total Yearly Cost Net Savings for High Deductible Plans
Arizona$400$860$1,260$700$1,100$160
Pima County, AZ$1,000$920$1,420$750$1,750-$330
Casas Adobes, AZ$2,500$780$1,280$660$3,160-$1,880
Marana, AZ$1,500$1,190$1,690$1,010$2,510-$820
Saddlebrooke, AZ$1,500$1,540$2,040$1,290$2,790-$750
Drexel Heights, AZ$1,000$530$1,030$450$1,450-$420
Picacho, AZ$700$420$920$350$1,050-$130
Tanque Verde, AZ$500$1,430$1,930$1,140$1,640$290
Oracle, AZ$500$770$1,270$650$1,150$120
Eloy, AZ$500$370$870$300$800$70
South Tucson, AZ$300$370$670$320$620$50
Tucson Estates, AZ$100$420$520$370$470$50

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ABOUT THE AUTHOR

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Ramu Garuda

Ramu is a research analyst with over 7 years of analytics & research experience. Prior to joining the company, he worked with some of the prominent consulting and market research firms in India, including Pride Technology (Supporting consulting projects to PWC), RR Donnelly, and The Hackett Group. His skills include company profiling, benchmarking, data and trend analysis, industry analysis, and report writing across the industries. Ramu holds a Master’s degree in Finance and Marketing. He also has a bachelor’s degree in Biotechnology.

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