Best Alaska Homeowners Insurance Quotes (2024)

COUNTRY Financial offers some of the cheapest homeowners insurance policies in Alaska, with annual premiums starting at $942.

A.M. Steinbach
Written byA.M. Steinbach
A.M. Steinbach
A.M. SteinbachInsurance Writer
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Ashley Cox
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Data reviewed byAndrew Huang
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Updated November 18, 2024

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The average cost of homeowners insurance in Alaska is $1,116 annually for a policy with $300,000 in dwelling coverage and a $1,000 deductible, Insurify data shows.

Alaska experiences severe weather and natural events occasionally, including earthquakes. Homeowners may want to consider adding earthquake insurance since standard policies don’t include this coverage.

Here’s what you should know about comparing home insurance quotes and what insurers are best for which types of homeowners in Alaska.

Quick Facts
  • COUNTRY Financial, State Farm, and Umialik Insurance are the cheapest homeowners insurance companies in Alaska.

  • Earthquakes, blizzards, and wildfires are some common perils in Alaska.

  • Alaska’s average home insurance rate is one of the lowest in the country and significantly lower than the national average rate of $2,377 for a policy with $300,000 in dwelling coverage.

Best home insurance companies in Alaska

Several high-quality home insurance companies serve Alaska. The best home insurance company for you will depend on your unique needs and situation.

Start your search with the companies in the table below.

Insurance Company
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
Average Annual Premium
Best For
COUNTRY FinancialN/A$942Cheapest rates
State Farm4.1$1,021High-value homes
Umialik InsuranceN/A$1,106New homes
Allstate4.1$2,704Specialty coverages
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 10 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 55,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Cheapest rates: COUNTRY Financial

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.8/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
868
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$78/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$127/mo

COUNTRY Financial offers the lowest rates in Alaska, at just $942 per year, or $78 per month. Alaska homeowners can save even more when they take advantage of COUNTRY Financial’s discounts, which are aimed at homeowners who bundle policies, stay with the company for three or more years, pay bills on time, and make key renovations to their homes.

Pros
  • Cheapest rates in Alaska

  • Above-average J.D. Power customer satisfaction score

Cons
  • Must finalize a policy with an agent

  • Low ratings on Trustpilot and Better Business Bureau

Best insurer for high-value homes: State Farm

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
9.3/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$108/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$156/mo

State Farm is the largest insurer in the country by market share and offers plenty of robust, customizable coverages for homeowners. In addition to 100% replacement cost coverage, State Farm offers keepsake coverage for valuables and collectibles, hobbies coverage for sports equipment and musical instruments, as well as home and garden coverage.

State Farm’s average rate of $1,021 yearly is the second-lowest in Alaska, though the company’s wide selection of discounts isn’t available to homeowners in Alaska.

Pros
  • Second-cheapest rates in Alaska

  • Above-average J.D. Power customer satisfaction score

Cons
  • Discounts not available in Alaska

  • Insurance agents available in only five Alaska cities

Best insurer for new homes: Umialik Insurance

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IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
NR
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$75/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$121/mo

This Anchorage-based insurer has served Alaskans for more than 40 years, offering a smaller, regional alternative to industry giants like State Farm. Despite its small size, AM Best gave Umialik Insurance a financial strength rating of A+ (Superior).

If you’ve remodeled your home in the last 10 years, you may qualify for Umialik Insurance’s new home discount.

Pros
  • Regional insurer with deep knowledge of Alaska

  • Third-cheapest rates in Alaska

Cons
  • Limited available discounts

  • No online quote tool

Best insurer for specialty coverages: Allstate

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
8.9/10
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
833
$300,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $300,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$102/mo
$500,000 Dwelling
A standard HO-3 home insurance policy typically includes dwelling, personal property, and liability coverage. The average rate displayed here reflects a policy with the following coverage limits: $500,000 dwelling; $25,000 personal property; $300,000 personal liability; $30,000 loss of use; and a $1,000 deductible for medical payments to others.
$149/mo

Allstate is the fourth-largest insurer in the U.S. by market share and offers Alaskans an array of useful optional insurance products. For example, homeowners who list their home as a vacation rental property can purchase Allstate’s HostAdvantage home-sharing coverage. Additionally, Allstate agents can help you purchase flood insurance through the National Flood Insurance Program.

Pros
  • Several unique coverage add-ons available

  • Online Premium Gauge tool helps determine insurance costs

Cons
  • Below-average J.D. Power customer satisfaction score

  • More expensive than some competitors

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Cheapest home insurance in Alaska

Alaska’s homeowners have many affordable options when looking for a home insurance policy. Your rate might vary based on a variety of factors, including your coverage level, your home’s age and condition, your ZIP code, your credit history, and the inflation rate.[1]

The table below lists the cheapest home insurance companies in Alaska and their average annual premiums.

Insurance Company
Average Annual Premium
COUNTRY Financial$942
State Farm$1,021
Umialik Insurance$1,106
Allstate$1,191
USAA$1,288

Cost of homeowners insurance in Alaska

The average cost of homeowners insurance in Alaska is $1,116 per year for a homeowners policy with a $300,000 coverage limit and a $1,000 deductible. Your coverage level and deductible are two factors in your control that can affect your rates. Your ZIP code, proximity to emergency services, home’s value, and home’s claim history are others that affect home insurance rates.

Shopping widely for home insurance and receiving quotes from multiple homeowners insurance companies can help you save money and find the right coverage for your budget.

Cost of homeowners insurance by dwelling coverage amount

Dwelling coverage is the insurance used to repair or rebuild your home in the event of a covered peril, such as a fire or severe weather event. Choosing a higher level of dwelling coverage leads to higher monthly premiums. Insurance experts recommend purchasing enough dwelling coverage to rebuild your home, which will vary based on factors like your home’s value, construction, and the local cost of labor and materials.[2]

Here are the average annual premiums in Alaska based on dwelling coverage limits. Rates shown are for a policy with a $1,000 deductible.

Coverage Limit
Average Annual Premium
$100,000$648
$200,000$886
$300,000$1,116
$400,000$1,355
$500,000$1,593

Cost of homeowners insurance by deductible

Your home insurance deductible is the amount you pay out of pocket in the event of covered losses. For instance, if you choose a $1,000 deductible, you’ll pay $1,000 to cover repairs before your insurance coverage kicks in. Lower deductibles come with higher monthly premiums and vice versa. Evaluate your financial situation closely when choosing a deductible amount.

The following table outlines the average annual premiums in Alaska based on deductible. Rates shown are for a policy with $300,000 in dwelling coverage.

Deductible Amount
Average Annual Premium
$500$1,172
$1,000$1,116

How to get cheap homeowners insurance in Alaska

Alaska homeowners already enjoy relatively affordable homeowners insurance rates. You can save even more on homeowners insurance with the following strategies:

  • illustration card https://a.storyblok.com/f/162273/150x150/c6bae56df5/protection-and-security-96x96-green_001-cctv.svg

    Perform key home upgrades

    Most homeowners insurance companies offer discounts if you’ve renovated older features of your home, such as the plumbing system. Additionally, adding new features, such as an advanced security system or fire detection system, can lead to lower rates.

  • illustration card https://a.storyblok.com/f/162273/150x150/77597ef857/banking-96x96-blue_032-credit-card.svg

    Improve your credit score

    Homeowners with better credit generally pay lower monthly premiums. Policyholders with poor credit are more likely to file claims, actuarial data shows. Insurers balance for this higher risk by charging higher rates.

  • illustration card https://a.storyblok.com/f/162273/150x150/95fa30ac35/insurify-icons-auto-orange-96x96_005-insurance.svg

    Adjust your policy details

    You might find you’ve bought too much insurance and can lower your coverage level. Tracking your home’s value and taking inventory of your personal items can help determine if you have too much or too little coverage. Also, choosing a higher deductible can lower your monthly premiums.

  • illustration card https://a.storyblok.com/f/162273/x/fa11c1fe75/comparison-website.svg

    Shop around and compare quotes

    Receiving homeowners insurance quotes from at least three home insurance companies is the best way to find the cheapest rate. Quotes vary based on a homeowner’s profile. Receiving quotes is a good idea if you want to find out which insurance company makes the most financial sense for you.

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How much homeowners insurance do you need in Alaska?

While state law doesn’t mandate homeowners insurance, all mortgage lenders will require you to purchase insurance when you finance your home.

You should purchase enough insurance to cover the costs of repairing or replacing your home in the event of a total loss. Your policy should include dwelling coverage, personal property coverage, and liability coverage. You may want additional coverage like flood insurance or earthquake insurance, which standard homeowners policies don’t include. 

Knowing the materials used to build your home, its size, age, and local repair costs can help you choose the type of policy you need and dwelling coverage limits. Taking inventory of your personal belongings (including valuable assets and items) can help you determine your personal property limits.[3]

Liability coverage protects you in the event of an injury occurring on your property. Most insurance experts recommend purchasing liability coverage limits of $300,000–$500,000.

What are some of the biggest risks when owning a home in Alaska?

Severe weather events regularly affect the United States’ largest state. Alaska homeowners should be prepared for the following perils:

  • illustration card https://a.storyblok.com/f/162273/150x150/9775a33e0d/weather-96x96-yellow_030-snowflake.svg

    Blizzards

    Alaska receives severe winter weather most years. Last winter, Anchorage had one of its snowiest seasons on record, with more than 39 inches of snow in November alone.[4] Alaskans should be sure their policies include coverage for windstorms, weight of snow, and frozen pipes. You may need additional insurance to cover water damage from a frozen pipe.

  • illustration card https://a.storyblok.com/f/162273/150x150/9e462f87fd/insurify-icons-auto-orange-96x96_010-house.svg

    Wildfires

    Damaging fires are becoming a bigger problem in Alaska, with three of the four largest fire years by acreage occurring since 2000.[5] Most standard policies include coverage for fire damage. Fires can cause severe damage, so decide if you want replacement cost coverage or actual cash value coverage in the event of a total loss.

  • illustration card https://a.storyblok.com/f/162273/x/a0c151e1ba/accidental-tearing-apart-cracking-etc.svg

    Earthquakes

    The Alaska Earthquake Center detects an earthquake roughly every 15 minutes — though many of these quakes are minor in magnitude. Alaska has experienced serious earthquakes, such as the magnitude 9.2 Good Friday earthquake in 1964, which is the second-largest earthquake recorded in world history.[6] Unfortunately, standard homeowners insurance policies don’t include earthquake coverage. Many insurance companies offer earthquake coverage as a policy add-on. Federal assistance may be available to homes in earthquake-prone areas.

Alaska homeowners insurance FAQs

If you’re shopping for a home insurance policy in Alaska, this additional information may help as you research your coverage options.

  • How much is home insurance in Alaska?

    Home insurance in Alaska costs $1,116 per year for a policy with a $1,000 deductible and $300,000 in dwelling coverage, according to Insurify data. But your individual rates will vary depending on factors such as your ZIP code, age of your home, square footage of your home, and the coverage levels you choose.

  • Which company has the cheapest homeowners insurance in Alaska?

    COUNTRY Financial has the cheapest homeowners insurance in Alaska, with annual premiums of $942 per year, or $78 per month. State Farm and Umialik Insurance also offer affordable coverage, with respective annual premiums of $1,021 and $1,106.

  • Does Alaska require homeowners insurance?

    No. Alaska doesn’t require homeowners insurance, but your mortgage company will require it if you financed the purchase of your home.

    It’s important to insure your home even if you don’t have a mortgage. Without insurance, you’d be on the hook financially if something damaged your home and you had to make costly repairs.

  • How much home insurance do you need in Alaska?

    There’s no specific amount of home insurance that you need in Alaska. At a minimum, you should have a policy with enough dwelling coverage to cover the cost of rebuilding your home if it was a total loss. Talk to an insurance agent about which specific coverages and amounts might make sense for your situation.

Sources

  1. National Association of Insurance Commissioners. "A Consumer's Guide to Home Insurance."
  2. Insurance Information Institute. "What is covered by standard homeowners insurance?."
  3. Insurance Information Institute. "How much homeowners insurance do I need?."
  4. Nasa Earth Observatory. "Anchorage Blanketed in Snow."
  5. U.S. Department of Agriculture. "Climate Change and Wildfire in Alaska."
  6. Alaska Earthquake Center. "Why Earthquakes Happen in Alaska."
A.M. Steinbach
A.M. SteinbachInsurance Writer

A.M. is a Brooklyn-based writer, editor, and content marketing strategist who's worked with major brands in insurance, tech, finance, and healthcare. He also contributes to The Average Joe, a personal finance newsletter that reaches over 250,000 daily readers. Since 2019, he's written for Insurify, breaking down a diverse range of insurance topics into crisp, readable prose.

A.M. has been a contributor at Insurify since December 2022.

Ashley Cox
Edited byAshley CoxSenior Managing Editor
Headshot of Managing Editor Ashley Cox
Ashley CoxSenior Managing Editor
  • 7+ years in content creation and management

  • 5+ years in insurance and personal finance content

Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.

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Andrew Huang
Data reviewed byAndrew HuangVP, Marketing & Analytics
Headshot of Andrew Huang, Directory of Analytics at Insurify
Andrew HuangVP, Marketing & Analytics
  • Chartered financial analyst

  • 12+ years in data analysis and marketing

Andrew applies his vast knowledge of analytics and insurance industry trends to help inform Insurify’s content and marketing efforts.

Featured in

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