How to find affordable homeowners insurance in Anchorage
Among the most important aspects of owning a home is homeowners insurance. Fire, vandalism, theft, and wind damage are just some of the perils from which home insurance can protect your dwelling and other personal belongings. With the relative frequency of such perils -- along with the high cost of rebuilding or repairing damages to a home -- purchasing home insurance is a wise investment. The average homeowners policy costs $80 per month in Anchorage, Alaska. This is less than what the average American pays for home insurance.
The cost of home insurance depends on many factors. This can include the overall value of your house, the value of your personal belongings, and the materials that were used when building your home. The location of your home also contributes to the price of your insurance policy. In areas prone to perils like hail, frozen pipes, volcanoes, or fire, home insurance rates may be higher to account for the extra risk. Find out more information about what a home insurance policy covers.
If you want to find cheap home insurance in Anchorage, start with looking around and comparing different policies. Check out the below summary of average homeowners insurance premiums in Anchorage to help you get as much information as possible when you start your search for insurance. One thing to note is that the yearly cost of home coverage is determined based on your chosen coverage limits as well as a number of other rating factors.
Table of contents:
- Rates by insurer
- Rates by coverage amount
- Rates by ZIP code
- Rates by deductible amount
- Policy bundling savings
Anchorage home insurance by company
Anchorage homeowners insurance rates will vary depending on which insurance company you choose. The most affordable home insurance in Anchorage is Liberty Mutual offering average annual rates at just $739 per year. This is considerably cheaper than the city’s average home insurance premium of $954.
Below you'll find a list of the cheapest home insurance companies in Anchorage, Alaska to help you start your search. You can also check out our guide to the best homeowners carriers based on the results of The Zebra's Customer Satisfaction Survey.
AFFORDABLE HOME INSURERS IN ANCHORAGE
| Company | Average Annual Rate |
| Liberty Mutual | $739 |
| Country | $784 |
| State Farm | $830 |
| USAA | $1,130 |
| Allstate | $1,191 |
Anchorage homeowners insurance prices by coverage level
How much you spend on home insurance coverage is greatly impacted by the level of coverage you choose. In Anchorage, carrying $200K dwelling coverage costs an average of $704, while carrying additional coverage up to $400K costs $1,212/year.
POPULAR COVERAGE LIMITS IN ANCHORAGE
| Coverage Level | Average Annual Rate |
| $100K Dwelling | $487 |
| $200K Dwelling | $704 |
| $250K Dwelling | $837 |
| $400K Dwelling | $1,212 |
Anchorage home insurance rates by ZIP code
Depending on the part of Anchorage you live in, you may see a big difference in your home insurance costs. Policies are often priced on local variables such as the number of claims filed in the immediate area, meaning the neighborhood in which you live could have a major impact on how much you pay to insure your home.
If you're looking for the most affordable home insurance premiums in Anchorage, take a look at the 99516 ZIP code. In this area, homeowners coverage costs just $911 per year on average: $43 less than the citywide rate. If you’re looking for the areas with the least costly homeowners insurance rates in Anchorage, check out the table below.
AFFORDABLE HOME INSURANCE AREAS IN ANCHORAGE
| ZIP Code | Average Annual Home Insurance Rate |
| 99516 | $911 |
| 99515 | $924 |
| 99507 | $929 |
Other parts of Anchorage, however, have home insurance costs that are higher on average. Crime rates, fire risk, and even your proximity to emergency services such as fire and police stations could impact rates the risk level of certain parts of the city, which could drive up the area's insurance costs. An average annual rate of $1,074 makes 99503 the most expensive ZIP code in Anchorage for homeowners insurance.
EXPENSIVE HOME INSURANCE AREAS IN ANCHORAGE
| ZIP Code | Average Annual Home Insurance Rate |
| 99503 | $1,074 |
| 99599 | $1,070 |
| 99529 | $947 |
Anchorage homeowners insurance deductibles
Among the numerous options faced by homeowners when buying an insurance policy is how high or low to set the deductible. The deductible is the total amount that the insured must contribute toward a covered loss. Where you set your deductible can be a major factor in determining your insurance premiums.
In general, having a low deductible means that your insurance premiums will be higher. This means that those seeking lower insurance costs will want to seriously consider a higher homeowners deductible. Remember that your homeowners deductible should not be so high that you would struggle to pay it in the event of a loss.
Below are some standard deductibles offered on most home policies along with corresponding average insurance premiums.
HOME INSURANCE PREMIUMS BY DEDUCTIBLE LEVEL IN ANCHORAGE
| Deductible Level | Average Annual Homeowners Insurance Rate |
| $500 | $913 |
| $1,000 | $837 |
| $1,500 | $801 |
| $2,000 | $764 |
| $5,000 | $691 |
Home and auto insurance bundling in Anchorage
You might want to consider bundling your auto and homeowners policies through the same company if saving money is one of your concerns. Bundling home and auto insurance can save you a substantial sum each month on your auto insurance bill. By bundling your policies, Anchorage homeowners could see annual savings of 10% on average.
CHEAPEST CAR INSURANCE RATES WITH HOME BUNDLE IN ANCHORAGE
| Company | Avg. Annual Auto Insurance Rate (With Bundle) |
| USAA | $825 |
| State Farm | $977 |
| GEICO | $1,001 |
| Allstate | $1,429 |
| Progressive | $1,614 |