The state of Alaska is continuously in the list of top 10 fastest growing states. With its pleasant, cool weather and ample recreation opportunities, many find themselves drawn to this northernmost state. Buying a home in Alaska can be a challenge however, as real estate prices are high. For many, renting is the best solution. If you don't have renters insurance, your belongings are more than likely not covered from damage due to burglary, theft, wind, rain, fire or arson. The following information will give you an idea of how to go about getting quotes and purchasing reasonably priced rental coverage.
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Alaska Living Statistics
- There were more than 15,000 thefts during 2012 in Alaska.
- The average rent per month in 2013 was $1,150 per month.
- More than 36 percent of Alaska's population is renters.
- 19.85 percent of median household income went toward rent in 2012.
Living in Alaska is expensive. For renters, falling victim to a crime such as a burglary, fire or rainstorm could cause them financial hardship. Having a renters insurance policy will give you peace of mind because you know you’ll have coverage if a disaster happens.
What Does Renters Insurance Cover?
Renters insurance protects renters from the most common risks they face, such as theft, fire, liability, etc. A typical renters insurance policy may resemble the following:
- Renters liability insurance: Liability insurance protects you from claims and lawsuits stemming from perceived negligence. If someone sustains injuries while on your property, liability insurance can help pay for your defense along with any judgments against you.
- Renters property insurance: From furniture to appliances, renters property insurance covers your possessions against thefts, fire, wind and other named risks.
- Relocation assistance: If the property you rent incurs damage and becomes uninhabitable, this coverage can help you find a temporary living space until you make repairs.
How Much Is Renters Insurance in Alaska?
Rental insurance quotes don’t fall into any specific price range, as each renter has different personal belongings. Be sure to have the following information available when you speak with your insurance agent about quotes:
- Rental location
- Number of tenants
- Value of assets
- Whether there is a security system
- Whether there are fire sprinklers
- Policy regarding pets
- Whether there is a pool/fitness center
- Desired coverage amount
- Desired deductible
All of this information factors into calculating rental insurance quotes by potential insurance providers.
Are There Discounts Available on Renters Insurance in Alaska?
You may be eligible for renters insurance discounts in AK just as you are for other types of insurance. The discounts may include the following:
- Multi-policy discount
- Claims-free discount
- Paid-in-full discount
- Security system discount
- Industry/Professional affiliation discount
This list is not exhaustive, and each insurance company offers its customers different discounts. So, be sure to inquire about which discounts you are eligible for.
How To Get Renters Insurance in Alaska
When it comes to purchasing renters insurance in Alaska, it's important to have a professional by your side. A Trusted Choice® agent is always available to help review your coverage, suggest policy changes or even help you file a claim.
Contact a local Trusted Choice agent for reasonably priced coverage to protect your belongings.