How to Protect Your Alaskan Home

If you are a homeowner in Alaska, or are considering becoming one, you will want to pay serious consideration to your policy. Homeowners insurance is a package of several types of protection that shelter your dwelling, physical property (the land and trees), liability protection, your personal belongings, and damage from earthquakes, or floods. Depending on which part of the state you live, not all types may be available, or some may be significantly more expensive based on the risk level present.

Dwelling Coverage

This provides money to help repair or replace your dwelling if it is damaged or destroyed by any peril except the common exclusions of floods, earthquakes or maintenance-related causes (like your house just falling apart from disuse over time). This essential aspect will usually be mandated by your mortgage lender if you have not fully paid for the home yet. It can be offered with standard replacement, extended replacement or at guaranteed replacement cost levels.

Considerations About Other Structures

Other structures protection is usually provided for detached garages or other permanent structures that exist on your property. This will not include second residences or other structures where people live, however, those require the same type of dwelling coverage as mentioned above.

Loss of Use/Additional Living Expenses

This provides for your living expenses if you are forced out of your home while it is being repaired from covered damages. For example, if you suffer a house fire and the smoke damage is significant enough that you must move while the house is cleaned and repaired, this will pay for reasonable expenses such as your hotel room, rent at another location, and food. The amount you will receive for any one incident if this insurance type is invoked is clearly spelled out in your policy.

Medical Payments

This goes towards the medical expenses of contractors or other individuals if they are injured while on your property. Particularly useful if you have, regular weekly visitors such as from a landscaping or cleaning service or if you are having work done on your dwelling by contractors.

Personal Liability

Designed to go hand in hand with Medical Payments coverage, this shelters you from liability if you are sued for damages that occur on your property. This property may also shield you in certain circumstances beyond the boundaries of your dwelling, such as if your child destroys a neighbor's property.

Add-ons to Consider

Flood insurance is not part of a standard policy. If you live in an area that may be subject to Alaska's regular runoffs you might want to seriously consider investing in this type of policy in order to protect yourself.

Another significant optional coverage is for earthquake or land movement. Of course the state is a part of the notorious Ring of Fire and earthquakes happen in the state on a daily basis to some degree or other. This will protect you from bearing the burden of replacing or repairing parts that may be affected by an earthquake.