ANCHORAGE RENTERS INSURANCE
Purchasing Anchorage renters insurance can be daunting. In fact, even deciding whether or not to get a rental policy in Alaska at all can be a major choice, particularly because it involves a financial commitment. There are so many aspects of renters insurance to consider that figuring out whether or not it is the right thing for you sometimes feels like an impossible conundrum.
Fortunately, there are some easy things you can consider that should help make the decision easier. Weigh the pros and cons of Anchorage renters insurance carefully, and do whatever seems best for you when you've completed the process.
Rental Policy Pros
Anchorage renters insurance protects the property you keep in your rented Anchorage home. This is true regardless of whether you're renting a house, condominium, or apartment, and is independent of your personal status. Thus, anyone from a college student moving off campus for the first time to a senior citizen approaching retirement to someone who is facing divorce can get a renters insurance policy.
At its most basic, Alaska renters insurance protects you from losing all of your property if something happens to it while it is inside your home. If, for instance, there is a winter storm in Anchorage and the wind blows your roof off allowing snow to fall on your expensive stereo, having Anchorage renters insurance means that you would be able to make a claim and have the company that issued your policy replace your property instead of having to replace it yourself.
Some Anchorage renters insurance policies will even cover property that is damaged while outside of your home, particularly if that piece of property is intended to be used in a mobile manner. If, for instance, you have a laptop insured as part of the policy on your Anchorage, AK condo but it gets damaged while you're using it in a local coffee shop, your policy may pay to repair or replace it even though it was not in your home when the damage occurred. These policies can be especially useful to students, who tend to have more of this mobile property.
In addition, most Anchorage renters insurance policies cover any of your property that is damaged as a result of negligence or malicious intent on the part of another person. If your recently divorced spouse gets angry and smashes up some of the things in your rented loft, this damaged would usually be covered by your rental insurance.
You can also purchase Anchorage renters insurance policies that cover you in case you are deemed liable in the death or injury of any person, their property, and even their pets. Someone who falls off a ladder while working on your townhouse, for instance, could probably get their medical bills covered if they did not have other coverage. In addition, your renters insurance would cover any court costs a situation like this might cause you to incur in Anchorage, Alaska.
Finally, most renters insurance polices will also cover damage to your rented house that is determined to be your fault. This includes water damage from faucets that get left on, fire or smoke damage from candles that fail to go out, and more. Though it may seem like these situations are few and far between, you might be surprised how many people in Anchorage need to use their rental policies to cover such damage.
Clearly, there are some major benefits to Anchorage renters insurance. They can all be summed up in one phrase: peace of mind. Having this sort of policy means that you don't have to worry about what would happen to your savings if your property was damaged, someone was killed or injured on your property, or you have an accident in your rented home.
Rental Policy Cons
The major difficulty that people have with their Anchorage renters insurance is that having a policy costs money. You will have to pay a premium every month, quarter, or year, the amount of which is determined by how much property you have, where in Anchorage you live, and the deductible you choose to attach to your policy.
Though you may fear that Anchorage renters insurance will be a major expense, this may not be the case. Often, renters insurance is more affordable than most people think. In fact, you may be able to insure your rented property and the possessions of your whole family for only a few hundred dollars a year, depending on some of the other factors mentioned above.
In addition, some people find that Anchorage renters insurance is frustrating because it has to be renewed every year. While this isn't difficult, many people would prefer not to have to bother with this. However, it's important to ask yourself what is more frustrating: a little bother now or a lot later, when you're trying to replace your possessions or dealing with court costs because someone was injured on the property?
Finally, a few people have trouble getting all of their possessions covered by their Anchorage renters insurance. Usually, this is because the total dollar value of what they own is more than the standard policy covers, or because they own one or two very expensive items that exceed the policy's amount for a single item. Many times, these sorts of problems can be solved by purchasing extra riders for the insurance policy to increase these maximum amounts. While this does cost more, it again allows for peace of mind because everything that could be damaged is covered.
Choosing a Policy
If you weigh the pros and cons and decide to purchase Anchorage renters insurance, know that you're in good company. Many residents of Anchorage, as well as the rest of Alaska, have these policies and are very happy with them.
When working towards purchasing Anchorage renters insurance, be sure to determine that any policy you're looking at will cover all of your property. You may want to get a guide for determining property value from the company offering the renters policy or the internet. This can help you determine exactly how much coverage you need.
After that, you'll want to get several quotes on your Anchorage renters insurance. Talk to different agents in the Anchorage area, because one of them may offer better rates than the others. Ask about any discounts you might be eligible for. For instance, some companies offer lower rates on Anchorage renters insurance when you also have an automobile or health policy through them.
Once you've decided on the renters policy that's right for you, approach the agent who gave you the quote for that particular policy and request a contract. They may need to meet with you in person, but they also might be willing to mail you the policy or send it to you electronically. When you have it, go over it carefully to make sure it meets all of the criteria that are important to you. Finally, sign your Anchorage renters insurance policy contract and submit it to the agent or company with your first payment. When you've done that, you can breathe a little easier, knowing that you've invested in something that could prove incredibly valuable to you and your family down the road.