Best Renter's Insurance Companies in Anchorage

FAQs

• What is the deductible for a renters' insurance policy in Anchorage?

  A deductible is defined as the out-of-pocket expenses during a covered loss. When getting a renters' insurance policy in Anchorage, the client needs to decide on the deductible. A deductible affects the cost of the insurance policy. A lower deductible means a more expensive policy, while a higher deductible means a cheaper policy.

• What is the difference between actual cash value and replacement cost value when getting a renters' insurance policy in Anchorage?

  Actual cash value and replacement cost value are the options in which the client can be reimbursed by the insurance company in Anchorage. ACV reimburses the amount that corresponds to the value of the damaged or lost item, taking into consideration the depreciation it incurred. On the other hand, RCV refunds the value of similar and new items.

• What are the factors that impact the cost of renters' insurance policy in Anchorage?

  A renters' insurance policy in Anchorage can be affected by several factors, such as location and deductible. The personal property and liability coverage amount may also influence the cost of the insurance policy. Another factor is the way, either actual cash or replacement cost value, that the client can be reimbursed by the insurance provider.

• What is the average cost of a renters' insurance policy in Anchorage?

  In 2023, the average cost of a renters' insurance policy in Anchorage is $91 per year. This is cheaper than the national average cost of renters' insurance plans, which is $159 per year. These prices are based on policies with limits of $100,000 liability coverage, $20,000 personal property, and $500 deductible.

• What does renters' insurance policy cover in Anchorage?

  In Anchorage, a renters' insurance policy covers bodily injuries and property damage. It pays for the cost of replacing the renter's damaged items, including furniture, clothes, television, and computer, resulting from fire or theft. The policy can also include medical payment coverage, which pays for the medical bills if a renter's guests get injured in the rental property.