Homeowners Insurance in Alaska

Getting homeowners insurance shouldn't be complicated. Compare Alaska rates by city and carrier below.

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How to get affordable homeowners insurance in Alaska


Homeowners insurance isn't required, but it is important. A home insurance policy keeps your personal items protected. A homeowners policy protects your dwelling and property in the event of a number of calamities, such as wind damage, fire, theft, vandalism, and more.

Unlike car insurance, home insurance isn't priced based on state laws. That said, large gulfs exist in home insurance costs on a state-by-state basis. Homeowners insurance prices by state may differ depending on the value and number of home policy claims lodged across the state, and also on the value of the dwelling and belongings being insured.

The best way to find cheap home insurance in Alaska is to shop around and compare rates from as many companies as possible. Get an idea of average home insurance rates in Alaska via the below breakdown. Individual rates may vary depending on coverage options and the value of the dwelling being insured.


Homeowners insurance in Alaska:
  1. Homeowners rates by company
  2. Homeowners rates by city
  3. Rates by coverage amount
  4. Rates by deductible amount
  5. Insurance bundling discounts
  6. FAQs


Home insurance prices in Alaska by company

Prices for home insurance in Alaska can vary based on the insurer you select. Safeco offers the best deal on homeowners insurance in Alaska — $727 annually. This compares favorably to Alaska's average cost of $1,103, offering a $376 price break on average statewide homeowners insurance costs.

Start shopping for affordable homeowners coverage by checking out the cheapest Alaska companies, listed below.


CHEAPEST HOME INSURANCE COMPANIES IN ALASKA
CompanyAverage Yearly Rate in Alaska
Safeco$727
Country$801
Umialik$1,038
State Farm$1,280
Allstate$1,349


Alaska home insurance by city

Homeowners insurance rates in Alaska differ by city. Home insurance prices can vary based on city-specific variables like the number of claims filed nearby, meaning your specific ZIP code impact how much you pay.

The best home insurance rates in Alaska are in Sitka. An average home insurance policy in Sitka costs just $885 every 12 months — $218 less than the average homeowners policy in other Alaska cities. Reference the below table to see the cheapest cities in Alaska for home insurance.


AFFORDABLE HOME INSURANCE BY CITY IN ALASKA
CityAverage Yearly Home Insurance Rate
Sitka$885
Anchorage$954
Juneau$955
Ketchikan$957
Kodiak$1,010


Home insurance rates in Alaska by coverage amount

Your chosen level of homeowners coverage determines the insurance premiums you pay . In Alaska, maintaining $100K dwelling coverage costs an average of $569 per year, while carrying dwelling coverage up to $400K costs $1,446/year.


HOMEOWNERS INSURANCE RATES IN ALASKA — COMMON COVERAGE LIMITS
Coverage LevelAverage Annual Premium
$100,000 Dwelling$569
$200,000 Dwelling$828
$250,000 Dwelling$989
$400,000 Dwelling$1,446


Compare Homeowners Insurance Rates


Homeowners insurance deductibles in Alaska

Alaska homeowners have a lot of decisions to make when shopping for a home insurance policy, including how much their deductible should be. The deductible is the total amount that the insured contributes toward a covered loss. Where you choose to set your homeowners deductible is directly related to the overall cost of your coverage.

A good rule of thumb is: the lower your deductible, the higher your premium will be. Therefore, consider a higher deductible if you aim to pay lower insurance rates. Remember that your homeowners deductible should not be so high that you would struggle to pay it in the event of a loss.

Below you'll find some commonplace deductible options offered on most home policies as well as with corresponding average insurance rates.


HOME INSURANCE PREMIUMS BY DEDUCTIBLE TIER IN ALASKA
Deductible AmountAverage Annual Home Insurance Rate
$500$1,085
$1,000$989
$1,500$945
$2,000$903
$5,000$819


Tip: bundle home and auto insurance in Alaska

If you're looking for savings, consider carrying your home and auto policies with the same insurance company. A home and auto insurance bundle in Alaska can lead to substantial savings on auto insurance. Bundling policies in Alaska leads to yearly savings of $94.


HOME AND AUTO INSURANCE BUNDLING SAVINGS IN ALASKA
Avg. 12-Month Auto Insurance Rate (No Bundle)Avg. Yearly Auto Insurance Rate (Bundle)Annual Bundle Savings% Savings with Bundle
$1,151$1,057$949%


You can save money on insurance by bundling your home and auto policies. Get started today!


Looking for information on homeowners insurance in a specific city?

  1. Anchorage


Alaska home insurance FAQs


Does GEICO offer homeowners insurance in Alaska?

GEICO currently sells homeowners insurance policies in Alaska.

Is homeowners insurance required in Alaska?

Although not required by state law, mortgage lenders may require you to carry home insurance.


Homeowners insurance and earthquakes in Alaska

Alaska faces an average of 1,503 earthquakes each year, which means Alaska residents should look into obtaining an earthquake insurance policy.* However, this coverage doesn’t come standard in home insurance policies. Earthquake coverage is obtained as a scheduled endorsement to your current policy, covering damages that result from earthquakes.

In addition to the initial earthquake, aftershocks are another serious concern. Aftershocks can be very dangerous and can continue causing damage long after the initial event. Luckily, having this coverage means you pay just one deductible for damage from the initial earthquake in addition to any aftershocks within a period of 72 hours.

Those living in earthquake zones can expect their homeowners insurance rates to be more expensive. This is especially true in areas at the highest risk of seismic activity. While most standard insurance carriers don’t offer earthquake insurance, options exist in states in which seismic activity is a threat. Companies in Alaska may offer endorsements covering earthquake damage. Keep in mind earthquake deductibles are usually higher than deductibles for most standard perils. In Alaska, expect to pay an additional $116 per year for an earthquake insurance endorsement.

Have a look at the best options for earthquake coverage in Alaska listed below. These figures should be treated as estimates — consult one of the companies for rates specific to your property.

 

CHEAP HOMEOWNERS EARTHQUAKE COVERAGE IN ALASKA
InsurerAverage Annual Earthquake Insurance Rate
Liberty Mutual$598
Country$848
Allstate$947
USAA$1,011
Western National Mutual$1,106

 

*Source: United States Geological Survey (https://www.usgs.gov/natural-hazards/earthquake-hazards/earthquakes)



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Ava Lynch LinkedIn

Ava worked in the insurance industry as an agent for four-plus years. Currently providing insights and analysis as one of The Zebra’s resident property insurance experts, Ava has been featured in publications such as U.S. News & World Report, GasBuddy, and Yahoo! Finance.