Homeowner Policies In Alaska

Homeowner policies protect not only your home, but also your assets in case of an accident. Johnson Law recommends Alaskans buy Homeowner Insurance protection. Buy as much as you can afford. If you wonder what homeowner policies cover and why you need homeowner insurance, you are not alone.

What Is Homeowner Insurance?

Primarily, Homeowner Insurance is financial protection if your home is accidentally damaged. Most Home policies cover five areas in case of an accident:

• The inside of your home;
• The outside of your home;
• Theft of personal property;
• Garages, sheds and other buildings on your property; and
• A person’s injury on your property.

Homeowner Insurance protects your investment: Even if you own your home outright, homeowner’s insurance is crucial for safeguarding your property from various risks, including fire, theft, and natural disasters. The Alaska Department of Commerce provides an comprehensive Consumer Guide to Homeowner Insurance.

Homeowner Insurance provides peace of mind: Beyond the financial aspect, homeowner’s insurance provides peace of mind, protecting you against unforeseen events. 

Are Homeowner Policies Required In Alaska?

Alaska, like most states, does not have a law mandating homeowner’s insurance. While Alaska does not mandate homeowner policies by state law, it is typically required by mortgage lenders. Even without a mortgage, it’s highly advisable to have homeowner’s insurance to protect your investment from potential damage or loss. 

What Does Homeowner Insurance Cover?

Homeowner policies cover costs after events such as fires and storms. Some key items covered by most policies include:

• Your home’s foundation, walls, and roof;
• Barns, tool sheds, and fences;
• Appliances, electronics, and furniture damaged by a covered event;
• Medical bills for a personal injury on your property; and
• Legal fees related to an accident or injury on your property.

Homeowner insurance may also cover expenses, such as hotel and meals if you are unable to live in your home after a covered event.

What Is Not Covered?

Many Homeowner policies have coverage limits. Most policies excludes residents. In other words, homeowner insurance does not cover the owner and family members. Read your policy carefully. For example, if you see your Home Insurance does not cover fire, ask your insurance company about fire coverage.

If you have questions about Homeowner Insurance, call your insurance sales agent. After reviewing your coverage, they will recommend the best coverages for your Alaska assets. Protect yourself and your family.

Johnson Law has been helping Alaskans for nearly 30 years. It’s who we are. Call Johnson Law at  (907)277-3090 or use our Contact Form to discuss your Alaska accident injury case. We are here to serve you.

And while we hope you never need us… We’re here if you do. ~ Doug Johnson

Sources: Alaska Department of Commerce; Chase; Lending Tree

Image Source: Alaska Department of Commerce