Fairbanks Homeowners Insurance

Your Complete Guide to Fairbanks, AK, Homeowners Insurance

(How to find the right trusted adviser for your policy)

Fairbanks Alaska homeowners insurance

Fairbanks, Alaska, enjoys views of the aurora borealis and is a place with midnight suns and long sunrises. This unique city is known for its beauty and outdoor adventure. 

When you own a home in Fairbanks, you'll need the proper insurance protection. Connect with your local independent insurance agent to get the best coverage and rates in town. You can get matched with an independent agent in moments.

Do Property Crimes Affect Your Fairbanks, AK, Insurance?

Fairbanks, AK, has just over 31,644 residents, making it a smaller town. The local crime rate per 100,000 people is lower than both the state and national averages, making it a safer city overall. Let's look at the numbers:

  • Number of burglaries per 100,000 households in the US: 376
  • Number of burglaries per 100,000 households in Alaska: 539.6
  • Number of burglaries per 100,000 households in Fairbanks: 350.9

The insurance companies will look at a variety of price-determining factors, burglary being one of them. With Fairbanks having a lower crime rate, your premiums should be less impacted than others. Talk with your local independent agent to see how crime affects your homeowners insurance policy.

Catastrophes in Fairbanks, AK, and Your Home Insurance

Every state and city has its fair share of catastrophes, and Fairbanks is no exception. To better protect yourself and loved ones from financial ruin, make sure your coverage is adequate.  

Some of Alaska's most common property exposures are listed below: 

#1  Severe storms and lightning

#2  Wildfires and residential fires

#3  Flooding and water damage

#4  Burglary and other property crimes

#5  Ice storms and freezing

Flood insurance in Fairbanks, AK:

Your primary home policy will not cover damage resulting from a flood. It excludes flood damage entirely and makes your need for a flood policy high. Your local independent agent can help find the flood insurance your home needs. 

Every property has a flood zone, and depending on which area you're in, it will determine your risk. All locations, no matter the zone, need flood insurance to protect against damage. Connect with your local agent to get quotes for your home. 

Liability Insurance in Fairbanks, AK

Most lenders and carriers will have mandates on what coverages need to be included to satisfy their risk requirements. Liability insurance is usually mandatory coverage. Some instances liability insurance can protect against are:

  • Injury to a guest or trespasser
  • Injury caused by your pet
  • Accidental injuries or property damage occurring while away from home
  • Slander caused by a household member

Umbrella insurance will give you $1,000,000 in additional liability when your underlying home and auto policy limits have been exhausted. When you're looking for more protection from all the what-ifs, umbrella insurance is the policy to have. Speak with a Fairbanks independent agent to go over liability limits. 

The Cost to Insure Your Fairbanks, AK, Home

The carriers customize and individualize coverage to your specifications. Since no two people are the same, your insurance coverage and premiums will be different. Insurance companies will use a variety of factors to determine your pricing. Let's look at the factors used below:

  • Local crime rates
  • Your insurance score
  • Your loss history
  • Year, square footage, and construction type of your home
  • Whether you qualify for carrier discounts
  • Coverages you select

Your premiums compared to the state and national averages may be higher or lower. 

Homeowners insurance premium averages:

  • National average: $1,211
  • Alaska average: $959

Alaska comes in at only the 37th most expensive place to purchase homeowners insurance. This gives you a pretty good chance of having lower rates. To know your exact pricing, contact your Fairbanks independent agent. 

How to Insure Your Airbnb or Vacation Property in Fairbanks, AK

Carriers will take into account the number of days your Airbnb or vacation home will be vacant. They also factor in tenants and other risk exposures your primary home policy doesn't usually see. 

Different homeowners insurance policy types:

  • Landlord insurance: This will provide coverage for the home itself as well as liability and occupancy protection. 
  • Vacation or secondary home insurance: A vacation home is one that you and your family would occupy on an occasional basis. The carriers account for the vacancy.

Speak with your local independent agent to find coverage for your rental or vacation property.

Why You Need a Fairbanks, AK, Independent Agent

A local independent insurance agent can help you find the perfect carrier for your home policy. They work with several insurance companies, giving you the best options on coverage and price.

Go to TrustedChoice.com to get connected with a local agent. Start saving on your homeowners insurance today.

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