With the constant threat of flood, forest fires and sub-zero temperatures, it's no surprise that Alaskans pay more for homeowner's insurance than other states. In fact, a recent article by Forbes placed Alaska on its list of most expensive states to insure a home. With a recent 12 percent increase in Alaska homeowner's insurance, what are Alaskans to do?
Here at InsureMe, our goal is to help you find the right Alaska homeowner's insurance to protect your home—for a price that protects your pocketbook.
By using our free referral service, we can provide you with up to five free quotes on Alaska homeowner's insurance, allowing you to compare and save.
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Alaska homeowner's insurance is a comprehensive policy designed to financially provide for the repair or replacement of your home. It also covers your personal property, along with medical payments for others and legal responsibility if someone is injured on your property.
While many folks groan about having to condense their budget to accommodate yet another payment, declining Alaska homeowner's insurance leaves your home, your family and your wallet at great risk for loss.
Forms of Coverage
While there are multiple forms of Alaska homeowner's insurance, the most commonly purchased forms are known as HO-1, HO-2 and HO-3.
HO-1 is a basic policy, which provides protection against basic perils such as lightning, fire, smoke, vandalism and theft.
HO-2 is an expanded form of HO-1, and provides protection against the same perils named in HO-1 policies, in addition to perils such as falling objects, building collapse, and water damage from home appliances.
HO-3 is the most commonly purchased form of Alaska homeowner's insurance because it protects your home against "all" perils, with exclusions of flood and earthquake.
Keep in mind that there are other forms of Alaska homeowner's insurance available, such as those for condos and mobile homes; be sure to ask your agent if you think they might apply to you.
Since damage from flood and earthquake are not commonly covered under Alaska homeowner's insurance, you may wish to purchase these forms of coverage in addition to your main policy.
Earthquake coverage can be purchased through any licensed Alaska homeowner's insurance agent, and provides funds for repair or replacement of your home after an earthquake. The amount of coverage will match your dwelling coverage, but there will be a separate deductible—typically 10 percent of the coverage amount.
Flood coverage is sold through agents in an arrangement made with the National Flood Insurance Program (NFIP), and provides funds for repair or replacement of your home from flood, flood-related erosion, mudslides and tidal waves.
Be sure to discuss these and any other forms of Alaska homeowner's insurance with your agent so that you are aware how to best protect your home.
Saving Money on Alaska Homeowners Insurance
Discounts—tend to be the largest source of saving money on your Alaska homeowner's insurance. Be sure to ask about discounts for insuring your car with the same company, and implementing safety measures such as installing extra smoke detectors or an electronic burglar alarm.
Up the Deduct—increasing your deductible will have a direct effect on your premium. Just make sure you set a deductible that you can afford if disaster strikes.
Shop Around—use InsureMe's free referral service to compare quotes from up to five companies at a time. This allows you to select the right Alaska homeowner's insurance for the right price.
If you seek additional information on Alaska homeowner's insurance, or if you have questions, contact the Alaska Department of Insurance at (800) INSURAK.
Keep Disaster at Bay with Alaska Homeowners Insurance.
You realize the need for Alaska homeowner's insurance. Now let InsureMe help you find a policy. Just enter your information to the right and receive up to five free quotes today!