Cheyenne, WY, is home to the F.E. Warren Air Force Base and the state's capital city. Cheyenne sits in the northern part of the Rocky Mountains, making it an outdoor town.
This 63,264 resident place may be where you own a home and lay down roots. For that, you'll need homeowners insurance to safeguard your asset. Connect with an independent insurance agent to get started.
How to Insure an Airbnb in Cheyenne, WY
Any rental or unoccupied property can mean greater exposure for the carriers. The insurance companies consider all the risks that your Airbnb, long-term rental, or vacation home has. They will provide a policy that will account for the vacancy and any tenants.
Different homeowners insurance policy types:
- Landlord insurance: If you have a short-term or long-term rental, your landlord policy will protect your interests as the property owner. It will also provide dwelling coverage for the structure itself.
- Vacation home insurance: This is considered your secondary home. Due to the property remaining vacant for a good portion of the year, the carrier charges accordingly.
Contact your local independent agent to go over your rental homeowners insurance options.
How Local Crime Impacts Your Cheyenne, WY, Home Insurance
For a mid-sized town, the burglary rates in Cheyenne, WY, are higher than average. With both the state and national numbers better than Cheyenne's, you may see a premium increase. 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 Wyoming: 264
- Number of burglaries per 100,000 households in Cheyenne: 436.3
When you are a victim of a break-in, it's essential to know how your home policy will respond. Homeowners insurance will provide coverage in the following ways:
- Replace or repair any damaged or stolen property
- Pay for medical expenses if anyone is injured
- Pay for additional living expenses
Your local independent agent can go over coverage options and how the crime rates impact your premiums.
Homeowners Catastrophes in Cheyenne, WY
Catastrophes happen everywhere. Natural disasters will occur, and when they do, your policy should respond. There are many ways severe weather can damage your home. Let's take a look at the catastrophic events in Wyoming:
- The average number of tornadoes: 12
- The most common natural disaster: Fire
- The number of claims paid in 2016: 132,496,000
- The number of federally declared catastrophes since 1953: 36
Catastrophes don't have favorites, they can strike at any time, and your home insurance needs to be ready.
The top three most common risks in Cheyenne:
#1 - Storms
#2 - Flooding
#3 - Tornadoes
Flood insurance in Cheyenne, WY:
Contrary to popular belief, your primary home policy will not cover flood damage. You'll need a separate flood insurance policy to have the protection your home needs. How to get a flood insurance quote:
1. Have an independent agent look up your flood zone.
2. Your agent can now quote flood insurance with FEMA-approved carriers.
3 Buy the best flood insurance option through your independent agent.
Make sure you have coverage when you need it most. With Cheyenne being prone to floods, it's a policy you'll want to have.
Liability Insurance and Your Cheyenne, WY, Home
The majority of home insurance policies have liability as their primary coverage. It will protect you and your household members from a potential lawsuit. Instances that liability insurance will cover:
- Bodily injury caused to a guest
- Slander or bullying by you or a member of the household
- Injury resulting from a dog bite
- Injuries or property damage that occur while away from home
Umbrella insurance is another form of liability coverage. Many homeowners have an umbrella policy over their underlying home and auto policies for added protection. It will apply when a larger claim exhausts your primary limits, and you still need more coverage. Speak with your independent agent on your liability options to learn more.
The Price to Insure Your Cheyenne, WY, Home
Your home insurance premiums are customized to you and your home. The carriers use different price-determining items when figuring your cost. Each person is unique, making your rates specific to you.
Home insurance rating factors:
- The local crime
- Your credit score
- Your claims history
- Coverages you select
- Any carrier discounts
- Year, construction type, and square footage of your home
- The replacement cost of your home
Average home insurance premiums are different across the board. Whether you own a mobile home or half a million-dollar asset, your premiums will vary. If you are aware of rates, you can see where your costs fall. Take a look at the average home insurance premiums:
- National average: $1,211
- Wyoming average: $1,159
Your pricing could be less or more than the state and national averages. It all depends on your risk factors and how much of a liability your property is. Connect with your local independent agent to find out your exact numbers.
Work with an Independent Agent in Cheyenne, WY
If you work with an independent insurance agent in Cheyenne, you'll have access to multiple markets. This will save you time and premium dollars by price shopping.
An independent agent does all the work for you and presents you with the best option. Go to TrustedChoice.com to find a local agent fast.
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