Alaska Homeowners Insurance Quotes (2023)

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.

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.

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.

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

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.

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:

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.

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.

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.

Alaska is wild. Your home insurance rates don't have to be.

Frequently Asked Questions