We have probably all become more aware of the importance of having reliable, quality home insurance over the past few years, especially after seeing the disasters of hurricanes, tornadoes, and wildfires and the damages they leave in their aftermaths. Not only can they involve a personal and financial loss, but also an emotional one as well. When you are in the market for Alaska home insurance, it is important to know all the facts and choose a policy which is right for you and your circumstances.
We have all heard the stories about people who thought they had the coverage they needed, only to find after disaster actually struck, their specific policy didn’t protect them adequately, or worse, not at all. For most people, their home is their greatest investment. Usually, it’s also their greatest financial asset.
So it makes sense when you are considering Alaska home insurance to choose coverage which gives you the security and peace of mind of knowing that you and your investment are fully covered and protected. This means having coverage not only for natural disasters, but also for theft, fire, and even liability (if someone is injured on your property).
It is also important to remember that renters need Alaska home insurance. Your personal property has value and you need to have adequate replacement coverage in case of fire, theft, etc.
There are several factors which are important to consider when making your decision about the amount of coverage you need. Remember that the better your coverage, the less financial obligation you have in the event of a claim.
Additionally, if you have a mortgage, your lender may have specific requirements which you are obligated to adhere to. You need enough liability coverage to protect yourself in case of a lawsuit resulting from your negligence.
After you have read through the article and determined your needs and the type of Alaska home insurance you want, we at insuranceUSA.com are ready to assist you with the home insurance quotes that will provide you with the coverage and satisfaction you both need and deserve.
Choosing Your Alaska Home Insurance Policy
Alaska home insurance policies vary according to individual needs and requirements. Generally speaking, there are two types of Alaska home insurance policy options to choose from – monoline and package policies. A monoline Alaska home insurance policy only has one specific type of coverage, such as liability. A package Alaska home insurance policy offers several different types of coverage. The package policy may include property and liability insurance together, for example. For most people, it is more cost effective to buy a package policy instead of a monoline Alaska home insurance policy. InsuranceUSA.com can help you decide just which Alaska home insurance policy is right for you!
There are seven standard types of Alaska home insurance policy options to choose from, depending on your personal needs. Each is described in brief below. For more information on these Alaska home insurance policy options available, contact insuranceUSA.com.
Homeowner-1 (HO-1): Offered by very few Alaska home insurance policy companies, this policy option has very narrow coverage. It usually covers damage from fires, lightning, smoke, wind, hail, burglary, theft, explosion, glass breakage, vehicle damage, riot and civil unrest, as well as civil judgments, medical payments, personal property, and expenses if forced to live away from home for a short period of time.
Homeowner-2 (HO-2): This Alaska home insurance policy covers everything listed in HO-1, as well as falling objects, damage from the weight of ice or snow, damage from leaks or freezing in the plumbing system, electrical damage to appliances, and damage cause by a rupture in the water heater.
Homeowner-3 (HO-3): Also called a Special Form Policy, this is the most common type of Alaska home insurance policy in use. It covers all physical losses, except for those that are specified in the policy. Exceptions often include floods, earthquakes, war and other disasters, natural and man-made.
Tenant/Cooperative Owner (HO-4): This Alaska home insurance policy is for renters or owners of cooperative units. This is used to insure against damage to the tenant’s possessions, and personal liability for physical damage suffered while in the unit.
Homeowner-5 (HO-5): This Alaska home insurance policy covers everything listed in HO-3, plus personal possessions against loss, except for specific exclusions listed in the policy.
Condominium Unit Owner (HO-6): This particular Alaska home insurance policy offers the same coverage as HO-4, but is used only for condominiums.
Homeowner-8 (HO-8): This Alaska home insurance policy option is similar to the HO-1 policy. The difference though is that it provides an actual cash payment instead of replacement cost coverage. This Alaska home insurance policy is usually only used in the case of older homes where the property exceeds the market value.
No matter what type of Alaska home insurance policy you need, InsuranceUSA.com is ready to help you get all the information you need to make the right choice!
How Much Alaska Home Insurance Do you Need?
When you purchase Alaska home insurance, you should inventory your possessions. Make sure you take photographs of your most valuable items such as furniture and appliances; and always hang onto your receipts. Update your inventory at least once-a-year or when you buy something new.
You will also need to know the value of your home and how much it would cost to replace if it is completely destroyed. Most insurance companies will have you obtain a physical inspection to determine your home’s value before they will write a new policy.
Always buy just enough Alaska home insurance to cover your loss but don’t overdo it so you can’t afford the premiums. Be sure to ask you insurer any questions you may have or use InsuranceUSA to research a new policy and request a free quote.
Non-Renewals and Policy Cancellations
Alaska home insurance has specific rules and laws governing how and why an insurance company can cancel or not renew your policy. Normally, homeowners need not worry their policy is going to be cancelled unless they warrant it for any or all of the following reasons:
- Failure to pay premiums
- Committing fraud or filing false claims
- Being convicted of a crime
- Changing the property so it is uninsurable
- Altering the property so that unsafe conditions are created
Once the state-mandated term period has passed, an insurer may cancel or not renew a policy so long as they provide adequate notice and a legal reason or reasons for the action.
Buying Alaska Home Insurance
Before considering buying Alaska home insurance it is important to make sure that the company you are dealing with is legitimate. The easy way to check out a company is to ask for a copy of their Alaska issued insurance certificate which will have their license number on it.
Once you start to work with an Alaska home insurance company they should give you a survey to complete. Make sure that you answer it with as much detail as possible and don’t miss out any of the questions.
When buying Alaska home insurance, services are as important as cost. The last thing you want to do is pay less but have to wait a long time for your claim to be processed.
Buying Alaska Home Insurance on the Internet
Shopping online has become one of the fastest and easiest ways to shop, this includes when you are looking to buy Alaska home insurance. Just click online and do a search for Alaska home insurance. If you want to find a great jumping off point for your search of home insurance just go to InsuranceUSA.com You will find multiple companies who are willing to give you a fast quote. Make sure that you complete their forms in detail so that you receive a comprehensive quote in return.
Remember that quality is as important as price when buying Alaska home insurance. You need to be comfortable with the knowledge that if you need to make a claim, the company will deal with it in an efficient and effective manner.