Average homeowners insurance cost in Fairbanks, AK

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In Fairbanks, homeowners pay an average annual rate of $1,813 for a coverage level that includes $300,000 for dwelling, $100,000 for liability protection, and a $1,000 deductible, according to Insure.com’s rate analysis. This is $769 less than the national average of $2,582.

Homeowners insurance premiums can vary significantly from one property to another. In Fairbanks, the cost of home insurance is influenced by several factors, including:

Size of your home
Age of your home
Amount of coverage required
Location
Your credit score

It’s crucial to compare quotes from multiple insurers to ensure you get the best homeowners insurance policy. This allows you to find the coverage that meets your specific needs.

Read this guide to discover the monthly homeowners insurance cost in Fairbanks, explore the insurance costs for different dwelling coverage, and find out which companies offer affordable home insurance in Fairbanks.

Key takeaways

The average cost of homeowners insurance in Fairbanks is $1,813 per year.
Western National Mutual is the cheapest homeowners insurance company in Fairbanks with an average annual premium of $1,172.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $375 more a year for home insurance.

Average homeowners insurance cost in Fairbanks per month

Fairbanks homeowners pay an average of $151 a month, based on our rate analysis. It’s $10 more than the state average of $141 and $64 less than the national average for home insurance across the United States. The price of your homeowners insurance policy in Fairbanks may vary depending on where you live, the value of your home, and the coverage you choose.

Average homeowners insurance cost for a $200,000 house in Fairbanks

In Fairbanks, AK, homeowners pay an average of $1,438 annually for a $200,000 home. The annual cost of home insurance is influenced by factors such as the risk of natural disasters in your area.

Regions more susceptible to natural disasters, such as floods, hurricanes, or tornadoes, typically face higher rebuilding costs, leading to increased insurance premiums. It is important to understand that standard insurance policies might not cover damages caused by floods or hurricanes. If you live in a flood-prone area, it is advisable to purchase flood insurance.

Average homeowners insurance cost for a $300,000 house in Fairbanks

According to a rate analysis by Insure.com, homeowners in Fairbanks pay an average of $1,813 per year for a $300,000 house. These rates are for the coverage limits of $100,000 for liability protection and $1000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $375 more a year for home insurance. It would be best to buy enough insurance to cover the full cost of rebuilding your home.

However, the amount of dwelling coverage you need may vary depending on the size of your home, the features in your home, and the cost of living in your area.

Average homeowners insurance cost in Fairbanks by company

Among the carriers analyzed, Western National Mutual is the most affordable homeowners insurance company in Fairbanks, offering an average annual rate of $1,172.

Country Financial ranks second, while Allstate holds the third spot with an average annual rate of $1,770.

Researching a company thoroughly before selecting a homeowners insurance policy is essential. Insure.com has meticulously reviewed all insurance companies operating in Fairbanks and compiled a list of the most affordable options.

Below are the details of home insurance companies in Fairbanks and their average annual premiums.

Home Insurance Company	Annual rate
Western National Mutual	$1,172
Country Financial	$1,470
Allstate	$1,770
State Farm	$1,803
USAA*	$2,158

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Fairbanks for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.