Which Natural Disasters Does Homeowners Insurance Cover in Alaska?
Alaska is susceptible to a number of natural disasters and weather events that can cause some major damage to homes and property.
Written by Claire Beaney
Reviewed by Lauren Smith
Extreme cold and blizzards, wildfires, earthquakes, and floods are some common natural disasters that occur in
Alaska
. Fire and damages from storms may be covered by your homeowners insurance, but more coverage is needed to protect against floods, earthquakes, and other risks.Natural disasters and home insurance are often misunderstood. It is estimated by the Insurance Information Institute (III) that 28% of Americans believe basic home insurance plans cover flood damage from hurricanes, and 29% think they’re protected against earthquakes.
When disaster hits and insurance doesn't cover the costs, homeowners can find themselves in a difficult situation.
When it comes to natural disasters, it's even more difficult to grasp what's covered when you look at your own specific state. Which natural disasters are most common in Alaska, and are they insured?
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What is homeowners insurance—and what does it cover?
When you get homeowners insurance, your house and contents are covered, and your loss of use,
liabilities
, and medical expenses in the event of an accident on your property. Different insurance policies cover different risks and have varying coverage levels.Levels of homeowners insurance coverage
HO-1: The most basic homeowners insurance coverage (HO-1) only covers your primary residence—not your personal possessions, loss of use, and liabilities. HO-1 insurance commonly covers named perils like fire, wind, and hail.
HO-2: HO-2 is a type of named perils policy that protects your house and personal belongings from damage (caused by the risks listed in your policy).
HO-3: An
HO-3 policy
is the most prevalent type of home insurance policy. This includes coverage for the main structure, any additional structures (for example, a greenhouse or shed), personal property, loss of use, liability, and medical payments.This is an open perils policy, which means it covers anything related to your main structure except the hazards specifically listed as not covered. Personal property coverage, though, is limited to certain risks.
HO-5: An HO-5 coverage is the way to go if you're looking for the best of the best in homeowners insurance. Since it's an open perils policy, it insures both your dwelling and your possessions—but expect to pay higher rates for this extra coverage.
To make things easier for you, we've put together the following table:
Policy type | What’s covered | Open perils? |
|---|---|---|
HO-1 | Main structure only | Named perils only |
HO-2 | Main structure, personal property, loss of use, liability, medical payments | Named perils only |
HO-3 | Main structure, personal property, loss of use, liability, medical payments | Main structure is open perils, personal property is named perils only |
HO-5 | Main structure, personal property, loss of use, liability, medical payments | Yes |
What perils are covered by homeowners insurance?
It's critical to understand what hazards are covered, regardless of whether you have HO-1, HO-2, or HO-3 insurance. Examine your policy to determine the specific protections offered, however, you can normally expect coverage for these
16 named perils
:- Fire and lightning
- Smoke
- Volcanic eruption
- Explosion
- Riot or civil commotion
- Hail and windstorms
- Damage caused by vehicles
- Damage caused by aircraft
- Vandalism
- Theft or malicious mischief
- Falling objects (usually not covered by HO-1)
- Weight of snow, ice, or sleet (usually not covered by HO-1)
- Water overflow or discharge from plumbing (usually not covered by HO-1)
- Water heater cracking (usually not covered by HO-1)
- Damage from electrical current (usually not covered by HO-1)
- Frozen pipes (usually not covered by HO-1)
Note everything that isn't on this list. A number of homeowners are unaware that their insurance does not cover floods or earthquakes, despite the fact that these are two of the most frequent major disasters in the US.
Because most home insurance policies do not cover every natural disaster, it is vital to know what is covered by your particular policy.
Key Takeaway Your homeowners insurance coverage is determined by the type of policy you have and the precise risks specified on your plan.
Does home insurance cover natural disasters in Alaska?
Alaska is one of the more disaster-prone states in the U.S., with its remote and northern-most location contributing majorly to these conditions.
The Last Frontier may see a lot of snow, but it isn't just blizzards that contribute to the total amount of weather events seen in the state. One major catastrophe in Alaska is wildfires—recently, 2.5 million acres of Alaskan forest were burned in 2019, which is more than three times the size of the state of Rhode Island!
Landslides, floods, earthquakes, are other disasters experienced throughout the state. Even tsunamis are becoming more common as a result of climate change and fast melting glaciers.
Let's examine some of Alaska's most regular natural disasters to see what's covered and what isn't.
Earthquakes & Tsunamis
Alaska has more earthquakes per year than any other state and is located in one of the world's most seismically active regions. Every year, over 20,000 earthquakes occur in Alaska, according to the Alaska Earthquake Center.
In Alaska, "great" earthquakes (greater than magnitude 8) occur once every 13 years on average, whereas magnitude 7 to 8 earthquakes happen once every year.
Among the most devastating effects of earthquakes are tsunamis, which have struck Alaska causing immense damage.
Does homeowners insurance cover earthquakes?: No, a separate policy is required.
MORE: How to drive safely during an earthquake
Wildfires
When you combine human error with Alaska's arid summers and combustible vegetation, you have a tremendous risk of fires. In 2021 alone, there were 384 fires that burnt 253,357 acres of land in the state.
Does homeowners insurance cover fire damage?: Yes. Fire damage is covered by all house insurance policies, from the cheapest HO-1 to the most expensive HO-5.
Volcanoes
Volcanoes may be equally destructive and unpredictable, with Alaska home to over 130 active volcanoes. Spurr, Redoubt, Iliamna, and Augustine are among the most recent memorable ones in Alaskan history.
Unlike the lava-flowing volcanoes of Hawaii, Alaska's volcanoes typically spew ash.
Does homeowners insurance cover flooding?: Fortunately, most home insurance policies provide coverage for volcanic eruptions. Coverage is typically offered for damage caused directly by the eruption, including as ash, lava flow, and particles.
Landslides
Changes in climate conditions, such as higher rainfall and permafrost degradation, have increased the occurrence of fast-moving, catastrophic landslides in Alaska.
In fact, several sections of Alaska have already become unstable as a result of the state's rapidly warming environment.
Does homeowners insurance cover landslides?: No, landslides typically aren’t covered by basic home insurance. You can purchase a separate endorsement for landslide coverage.
Flooding
Flooding in Alaska is frequently caused by storm surges along the coast, ice jams in rivers, heavy precipitation events, or the rapid thawing of winter ice and snow.
A notable flood event in recent history was the 2009 Alaska floods, which occurred due to heavier-than-normal snowfall in the winter and higher temperatures in the spring—leading to catastrophic flooding.
Does homeowners insurance cover floods?: On normal policies, homeowners insurance does not cover flooding. Alaskan homeowners can get flood insurance as a separate policy through their agent or directly through FEMA's
National Flood Insurance Program (NFIP)
.Key Takeaway Your homeowners insurance should cover wildfire and volcano-related claims, but you may require additional protection for floods, earthquakes, and landslides.
How to file a home insurance claim
If you live anywhere in Alaska, you should ideally be protected against the natural disasters prone to the state. And if your home or personal belongings is damaged as a result of a natural disaster, follow these steps to file a claim:
- Keep track of your losses. Take photos of your belongings and write a list of anything that is damaged.
- Notify your insurance carrier of your intention to file a claim. They will appoint an adjuster to go over your evidence.
- Calculate how much you paid for every item (having receipts on hand might be important, especially for large-ticket purchases!)
- Fill out the claim forms given by your insurance provider.
- Discuss the damage with your adjuster. You do not want to lose money because you overlooked certain things or rooms.
- Get repair estimates from contractors to help you in negotiating reasonable compensation.
- Gather your funds and begin the process of restoring your home.
The best approach to guarantee that your insurance claim process runs as smoothly as possible is to understand the terms of your home insurance—before a disaster occurs! Then you won't have to scramble to figure out what is covered and what is not in the event of an emergency.
MORE:
Worst claim mistakes
How to save money on homeowners and car insurance
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