Average homeowners insurance cost in Alaska

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Whether you’re buying a new home or want to protect the property you currently own, it’s important to have sufficient homeowners insurance coverage in place. However, home insurance policies can get expensive, depending on your insurer and the coverage level you choose.

On average, Alaska homeowners insurance costs $1,695 a year, based on Insure.com’s data.

Learn more about the average homeowners insurance rates by company and ZIP code in Alaska.

Average home insurance cost in Alaska by coverage level

Homeowners insurance costs $1,695 a year in Alaska for the coverage limits of $300,000 dwelling coverage and $100,000 liability with a $1,000 deductible.

If you raise the dwelling coverage limit from $300,000 to $400,000, the cost of homeowners insurance in Alaska will increase to $1,369 per year for $100,000 in liability protection and a $1,000 deductible. Below, you’ll find the average cost of homeowners insurance in Alaska for dwelling coverage limits of $300,000, $400,000, and $500,000.

Homeowners insurance companies in Alaska determine rates based on risk factors. When calculating premiums, they consider your location, claims history and coverage limits.

If your neighborhood has experienced many claims in the last few years, you can expect to pay higher home insurance rates than areas with few to no claims.

Best homeowners insurance companies in Alaska

It’s always a good idea to shop around and compare prices before purchasing homeowners insurance. Several factors come into play when choosing the best homeowners insurance company.

We evaluated homeowners insurance providers in Alaska by comparing their NAIC scores and AM Best ratings and compiled a list of the top insurers in the state. Based on Insure.com’s analysis, Western National Insurance received the lowest NAIC score and an AM Best rating of A. A lower NAIC score signifies fewer complaints relative to the company’s size, indicating greater customer satisfaction.

Average homeowners insurance cost by company in Alaska

Western National Insurance offers the most affordable homeowners insurance in Alaska, at an average annual premium of $1,201, followed by Country Financial and Allstate.

You can save hundreds — if not thousands — of dollars each year if you shop around for homeowners insurance.

Here are the average annual and monthly insurance rates for Alaska homeowners for a policy with $300,000 dwelling coverage and $100,000 liability protection with a $1,000 deductible.

Alaska homeowners insurance rates by ZIP code

Insurance companies in Alaska assess the risk associated with a specific location. ZIP codes prone to higher crime rates or frequent natural disasters are often classified as high-risk areas, which can lead to increased insurance premiums. The cost of rebuilding or repairing homes in a specific ZIP code can also impact how much you pay for a homeowners insurance policy.

Make sure you shop around and compare quotes from various insurance companies to get the best deal on homeowners insurance rates in Alaska. Don’t forget to ask about any available discounts, such as bundling policies or a smart home discount.

Most affordable ZIP codes for home insurance rates in Alaska

Home insurance costs vary across different areas in Alaska. What you pay for homeowners insurance depends on several factors, including your ZIP code. According to our data, the 99824 ZIP code has the lowest home insurance rates in Alaska, at $1,208 annually or $101 per month.

Here are the homeowners insurance rates for some of the most affordable ZIP codes in Alaska.

Most expensive ZIP codes for home insurance rates in Alaska

Your ZIP code is a key factor in determining the cost of your homeowners insurance coverage. In Alaska, certain areas have higher insurance premiums due to elevated crime rates, increased risk of natural disasters, and higher living costs.

99755 has the most expensive homeowners insurance rates in Alaska at an average annual cost of $3,081.

Below, we’ve highlighted some of the most expensive ZIP codes in Alaska for home insurance:

Home insurance rates vary from one city to another. But with Insure.com, finding the right home insurance policy is easy. Learn more about homeowners insurance costs for different cities below.

Home insurance rate trend in Alaska

We analyzed home insurance rate trends in Alaska and found that homeowners insurance rates experienced an overall decrease of 9% or $172, from 2022 to 2023.

The below data shows how much homeowners insurance rates have changed since 2019.

To find the right homeowners insurance, research thoroughly and compare costs from multiple insurers, as they assess risk differently. Getting quotes from at least three companies helps ensure you get the most affordable coverage in Alaska.

Resources & methodology

Source

S&P Global. “US homeowners insurance rates jump by double digits in 2023.” Accessed September 2024.

Methodology

Insure.com worked with Quadrant Information Service to get homeowners insurance data. We analyzed 20,739,560 insurance quotes from 82 national and regional insurance companies across 34,588 ZIP codes to determine the average premiums.

The insurance rates are based on a sample profile of a homeowner with good credit and the following coverage level:

• $300,000 dwelling coverage
• $100,000 liability protection
• $1000 deductible

We have taken into account 3 important factors such as average annual cost, NAIC score and AM Best rating, to determine the list of best homeowners insurance companies. The quoted insurance rates are for comparison purposes, and your individual rates may vary.

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Shivani Gite

Contributing Writer

 

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Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.

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