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Alaska Homeowners Insurance Quotes (2023)
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Average Cost of Home Insurance in Alaska
According to 2021 rates, the average cost of homeowners insurance in Alaska is $1151 per year and $96 per month. Alaska homeowners insurance rates are $247 per year less then the national average and about 18% less annually. When compared to the other US states that makes the cost of homeowners insurance in Alaska the 30th most expensive in the country, based on 2021 data.
For shoppers, the best way to find a homeowners insurance policy in Alaska is to evaluate all of the quotes from individual insurance providers and then decide on the policy that fits your requirements and budget level. Fortunately finding the right homeowners insurance coverage is easy with a tool like Insurify.
Insurify provides easy and fast home insurance quote comparisons for all kinds of homeowners nationwide. Insurify has helped thousands of customers receive accurate homeowners quotes for your property in Alaska in minutes.
| Alaska Average Homeowners Insurance Rates The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. | |
|---|---|
| Average Cost Per Month | $96 |
| Average Annual Premium | $1151 |
| State Rank (Most Expensive) | 30th |
Cheapest Home Insurance Companies in Alaska
For homeowners in Alaska, it's important that you evaluate all of your potential insurance options to ensure you are finding the best rate. Comparing the right insurance companies will allow you to get the best possible insurance rate for your home.
To simplify comparing companies, Insurify has analyzed rates from top insurance providers in Alaska. The following are the best insurance rates from carriers that offer homeowners insurance in Alaska.
| Cheapest Companies | Quotes The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| Umialik Insurance | $1,053 |
| USAA | $1,053 |
| Country Financial | $1,116 |
| Allstate | $1,240 |
| State Farm | $2,326 |
How to Get Affordable Home Insurance in Alaska
With home inventory at a low, as a buyer, finding a home in the Alaska real estate market is no easy task. However, you managed to do so. You've gotten past the first hurdle, though homeownership is an investment that is often challenging. It would be wise to protect your investment by taking these steps toward home happiness in Alaska.
The first step is homeowners insurance. Securing the right home insurance is one of the first things you should do after buying your home. Alaska home insurance is not a legal requirement, and whether you need it is usually up to the mortgage lender for approval.
The amount of risk your property poses varies as the type of homeowners insurance and coverage options will depend on multiple factors, including ZIP code, dwelling type, and more. Insurance coverage is not one-size-fits-all, making it more meaningful to get your home covered with home insurance at a low price.
Read on so you can find Alaska home insurance at the cheapest rate.
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Alaska Homeowners Insurance Rates by Company
Homeowners insurance rates aren’t always designed with savings in mind. That’s where Insurify comes in.
As of 2021, the average home insurance premium in Alaska costs $1,361 annually, and the median home value is $273,100.
That's a significant amount of money. Though these costs are vital to home ownership, you still have to take care of your other responsibilities around the home.
Then there’s Insurify. Compare quotes in your vicinity for the best homeowners insurance. Adjust insurance coverage tiers according to your lifestyle to get the best Alaska home insurance around.
Average Annual Home Insurance Premium in Alaska by Company
Average prices for standard homeowners insurance for a 7-15 year old home, $200,000 in coverage
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
Home Insurance Rates in Alaska Cities
Like property costs, home insurance varies in price from city to city. Pricing is determined on ZIP code–specific variables, such as the volume of claims filed nearby, crime rates, and property costs, and risk variables, such as natural disaster frequency. Even your specific neighborhood may determine if you pay more or less on our annual premiums.
Rates in Alaska can be relatively high or low compared to the national average; it all depends on which town you live in. Here are the most and least expensive ZIP codes in Alaska for home insurance.
| City | Median Home Price The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| Sitka | $416,653 |
| Juneau | $402,540 |
| Anchorage | $328,889 |
| Wasilla | $290,046 |
| Fairbanks | $235,835 |
| Ketchikan | $253,359 |
What does home insurance cover in Alaska?
There are several types of home insurance. Specific terms of insurance policies may vary by state, but in general, the standard policy types are as follows:
The simplest and least comprehensive type of homeowners insurance.
Provides coverage for a handful of potential problems including:
- Natural disasters (storms, fires, wind lightning, volcanic eruption)
- Explosions
- Theft
- Damage from vehicles
- Civil commotion
Broad form homeowners insurance policies include all basic form coverage, plus:
- Protection from falling objects
- Damage from the weight of ice, snow, or sleet
- Freezing of household systems including HVAC and pipes
- Sudden and accidental damage to pipes and other household systems from artificially generated electrical current
- Accidental discharge or overflow of water or steam
- HO-2 policies typically cover both dwelling protection and personal property.
- In some cases, broad form coverage may also include liability coverage. However, it still only covers the specific damages listed in the policy.
- The most common form of homeowners insurance is known as a “special form” policy.
- While HO-1 and HO-2 policies are “named peril” policies (meaning they only cover dangers that are specifically listed in the policy), HO-3 policies are “open peril” policies meaning they’ll cover all dangers except those specifically excluded in the policy documents.
- HO-4 policies, also known as renters insurance, are for people who lease rather than own their homes.
- Tenant’s form policies typically cover all the same dangers as HO-2 policies.
- Tenant’s form policies typically cover all the same dangers as HO-2 policies.
- These policies include personal property coverage and liability coverage but don’t cover the physical structure of the house.
- Some HO-4 policies may also include loss of use coverage for the tenants.
- Comprehensive form policies are usually the broadest and provide the highest level of coverage; not surprisingly, they also tend to be the most expensive type of homeowners insurance policies.
- The biggest difference between HO-3 and HO-5 policies is that most HO-3 policies are “actual cash value” policies, whereas typically HO-5 policies are “replacement cost value” policies.
- An actual cash value policy will only reimburse you for the actual value of a damaged or destroyed item, while a replacement cost value policy will reimburse you for however much it would cost to completely replace or repair the damaged or destroyed item (up to the coverage limits on the policy).
- HO-5 policies also provide personal property coverage against a wider range of dangers than the typical HO-3 policy. Many HO-5 policies also have extra coverage for high-value personal property such as jewelry and artwork.
- Not surprisingly, condo form insurance is for condominium owners. HO-6 policies generally protect against the same types of dangers as HO-3 policies.
- They provide dwelling protection coverage with a twist: HO-6 policies cover the walls, floors, and ceiling of the condo unit but not the rest of the building.
- These policies also include personal property and liability coverage and may include loss of use coverage.
- If you own a mobile home or manufactured home, you likely have an HO-7 policy.
- Mobile home form policies are typically identical to HO-3 policies, except they’re designed specifically for mobile and manufactured homes.
- Like HO-3 policies, they provide dwelling protection coverage, other structures coverage, personal property coverage, liability coverage, and possibly loss of use coverage as well.
- HO-7 policies generally only protect the home when it’s stationary; if you plan to move your mobile or manufactured home, you’ll need to get a special policy to cover it while it’s in transit.
- Older homes have generally been built to less stringent code standards than recently built homes, and so insurers have designed a specialized type of homeowners insurance policy for them.
- HO-8 policies often only cover the basic perils listed in HO-1 policies and generally apply to homes that are registered landmarks or otherwise deemed historic homes.
- Owners of registered landmarks are typically forbidden from making the updates to HVAC, electrical, and other parts of the home to enable them to qualify for a standard HO-3 policy, so an HO-8 policy is often the only option for them.
For more detailed Alaska city level guides, check out these below.
Natural Disasters and Insurance in Alaska
Protecting your home with the best home insurance coverage is crucial to living in the Frontier State. The top natural disasters in Alaska are earthquakes, flooding, volcanoes, tsunamis, wildfires, and landslides. Here are some frequent natural disasters in Alaska:
Earthquakes
Being a mountainous region, Alaska is always on alert for earthquakes. The strongest earthquake ever recorded in Alaska was in 1964 at Prince William Sound, 74 miles southeast of Anchorage, at magnitude 9.2, rocking Alaska's mainland. More than 1,200 miles away, Seattle's Space Needle even wobbled from this quake.
Though it's been many years since Alaska's last massive earthquake, residents should always be prepared for the unknown. In 2019 alone, Alaska had 98 earthquakes with a magnitude of 2.5 or higher, seven of which were measured at a magnitude of 4.5 or higher.
Special home insurance coverage may be needed to ensure you have protection from earthquake damage in Alaska. The typical home insurance policy protects against specific damages; earthquake protection is usually a separate package. Check with your home insurance agent to see what your policy covers.
Volcanos
Since Alaska is home to over 40 active volcanoes, it's crucial to know whether volcanic events could happen in your area. While most home insurance policies cover property loss caused by volcanic eruption and fire or explosion resulting from eruptions, they do not usually cover damage from land tremors, landslides, or other earth movements. In this case, supplemental earthquake insurance may be needed. It's essential to check with your home insurance company to find out if you're covered.
Wildfires
Alaska is the home to natural wooded areas. Wildfires are a threat not only to our property but also to our lives. While wildfire insurance is generally covered under the comprehensive portion of most home insurance policies, the price could be higher if you live in an area prone to annual wildfires. Talk to your local agent about your general area and what's covered in a standard homeowners insurance policy in Alaska.
Home Insurance Companies and Flood Insurance in Alaska
Alaska is a coastal state on the Pacific and is home to many lakes, rivers, and streams. If you want coverage for flooding, you will need separate flood insurance. Certain factors determine whether you live in a flood zone in Alaska. These factors, including the history of floods and high-risk areas, could change your home insurance premium.
Flood insurance rates rely on the estimated base flood elevation of your home. Most home insurance policies cover necessities like medical, liability protection, and other small expenses in case of flooding, but they won’t cover damage to your house; supplemental flood insurance is better than none. Don’t risk getting extreme water damage. The National Flood Insurance Program and your local agent will give you information on separate flooding insurance.
Cheapest Home Insurance for Houses Near Fire Department in Alaska
If your home is within a certain distance from a fire department or fire hydrant your rates may decrease. The same applies for the opposite. If your home is far from fire safety, you may pay more for homeowners insurance.
| Insurance Company | Average Annual Premium The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| Allstate | $719 |
| Country | $1,116 |
| State Farm | $2,326 |
| Umialik Insurance | $864 |
| USAA | $1,069 |
Cheapest Home Insurance for Houses Near the Coastline in Alaska
Waterfront living is wonderful. But the risk a nearby coastline may present to your home could end up increasing your home insurnace rates. The closer you are to the shore, the more at risk your property is to flooding. This will be reflected in your homeowners insurance rate.
| Insurance Company | Average Annual Premium The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| Allstate | $1,240 |
| Country | $1,116 |
| State Farm | $2,326 |
| Umialik Insurance | $1,054 |
| USAA | $1,069 |
Cheapest Home Insurance for Homeowners with Poor Credit
Credit scores affect your insurance rates. Insurance companiies take the score into account when calculating risk. Your poor credit score could negativlely affect your policy rate.
| Insurance Company | Average Annual Premium The car insurance quotes, statistics, and data visualizations on this page are derived from Insurify’s proprietary database of over 4 million car insurance applications from ZIP codes across the United States. Insurify’s data science team performs a comprehensive analysis of the various factors car insurance providers take into account while setting rates to provide readers insight into how car insurance quotes are priced. |
|---|---|
| Allstate | $1,550 |
| Country | $1,116 |
| State Farm | $3,862 |
| Umialik Insurance | $1,054 |
| USAA | $1,390 |
Alaska is wild. Your home insurance rates don't have to be.
How to Find the Cheapest Home Insurance in Alaska
From Juneau to Ketchikan, protecting your home with the proper homeowners insurance in the Frontier State is one of the first things to do as a property owner. With the right knowledge and the proper tools, you're on your way to big savings on Alaska home insurance.
Use Insurify to compare home insurance premiums for your property in Allaska. Our comparison tools make homeowners insurance shopping (and saving) simple so you can be on your way to enjoying your newly insured home in no time.
Frequently Asked Questions
Do homeowners insurance companies in Alaska offer bundling with auto insurance?
Many insurance companies, such as Allstate, Country Financial, and State Farm, have specific packages called “bundles” with home insurance and car insurance. Check with your insurance provider if they have special offers like bundling with property insurance. You might be eligible for discounts on your homeowners insurance.
Does standard homeowners insurance in Alaska cover wildfires?
Though Alaska's standard home insurance covers wildfires under the comprehensive portion, you may need special home insurance coverage to guarantee protection from wildfire damage in Alaska. The typical home insurance costs generally protect against specific instances. Check with your home insurance company's local agent to see if you're covered.
Do homeowners insurance companies cover flooding in Alaska?
Homeowners insurance does not usually cover flooding in Alaska. Be aware that portions of your home insurance policy will cover liability, certain living expenses, and medical expenses. It's a good idea to find separate flood insurance through the National Flood Insurance Program, even if you live in a low-risk flood zone.
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