Home insurance rates in Alaska are far cheaper than the national rate. However, a little groundwork can help you get the best policy at the cheapest price. This guide will help you find the best choice for your homeowners insurance needs.
In this article
Alaska's cheapest home insurance companies
If you're an Alaska homeowner, Country Mutual has the cheapest average home insurance rate of $937 a year. The next-cheapest is Umialik at $1,061 a year. Allstate comes in third at $1,093 a year.
| Company | Average annual premium |
|---|---|
| Allstate | $1,093 |
| Country Mutual | $937 |
| State Farm | $1,470 |
| Umialik | $1,061 |
| USAA | $1,416 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
How much does home insurance cost in Alaska?
A home insurance policy in Alaska costs an average of $1,195 a year. This is 46% lower than the national average homeowners insurance rate of $1,903 a year.
Your final home insurance quote is based on multiple factors. These include:
- Your ZIP code
- The age of the house
- Construction materials used
- Your insurance claim history
A standard home insurance policy is pretty much the same regardless of where you buy it. Why the difference in prices then? Home insurance companies put different weights on the various factors that make up your premium. For example, your claim history may be considered a bigger risk factor to one insurer than another. Use this to your advantage and compare quotes from multiple providers to get the best, cheapest home insurance policy.
Your policy deductible also plays a part in your final premium. If you get a high deductible, it will lower your overall premium.
| Deductible | Average annual premium |
|---|---|
| $500 | $1,281 |
| $1,000 | $1,195 |
| $1,500 | $1,119 |
| $2,000 | $1,091 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
The best home insurance companies in Alaska
Country Mutual, Umialik and Allstate are currently the best homeowners insurance providers in Alaska. Here's why.
Country Mutual: Cheapest rates
Country Mutual has the lowest home insurance rates of the providers that underwrite policies in Alaska. Its average rate is $937 a year. This is 24% less than the state average rate of $1,195 a year, and 68% less than the U.S. average rate of $1,903 a year.
Umialik: Best regional provider
Founded in 1981, Umialik has prided itself in providing insurance by Alaskans, for Alaskans. Based in Anchorage, Umialik combines low rates with an understanding of what homeowners in Alaska are looking for in home insurance. It also carries an A+ rating from A.M. Best, indicating superior financial strength and ability to financially back claims.
Allstate: Best discounts
Allstate already has a cheap average rate of $91 a month, but it also has the widest array of discounts to get your premium even lower. Allstate's home insurance discounts include:
- Welcome and loyalty discount: Save 10% on your home insurance for switching to Allstate. You have this discount as long as you have your policy with Allstate.
- Multi-policy discount: Bundle your home insurance policy with an auto insurance policy through Allstate and you can save up to 25% on your insurance costs.
- Early signing discount: Save up to 10% on your premium by signing up for a new home insurance policy at least seven days before the expiration of your current policy.
- Easy pay discount: Save 5% on your home insurance by setting up automatic payment.
- Claim-free discount: If you sign on with Allstate with no recent claims on your home insurance, you can save up to 20%.
Cheapest cities for home insurance in Alaska
Of the 10 biggest cities in Alaska, Juneau enjoys the cheapest average home insurance rate in the state at $986 a year. Anchorage has the second-cheapest rates of $992 a year.
| City | Average annual premium |
|---|---|
| Anchorage | $992 |
| Fairbanks | $1,169 |
| Juneau | $986 |
| Badger | $1,140 |
| Knik-Fairview | $1,002 |
| College | $1,113 |
| Tanaina | $1,002 |
| Wasilla | $1,094 |
| Kalifornsky | $1,019 |
| Note: Average rates are based on non-binding estimates provided by Quadrant Information Services. Your rates may vary. | |
Methodology
We used Quadrant Information Services to generate thousands of home insurance quotes for every ZIP code in Alaska from the following providers. Our sample home used the following policy specifications:
- $275,000 dwelling coverage (unless otherwise noted)
- $27,500 other structures
- $137,500 personal property
- $55,000 loss of use
- $100,000 liability
- $5,000 medical payments
- $1,000 deductible (unless otherwise noted)
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