Average Costs and Cheapest Homeowners Insurance Companies in Alaska

While Country Financial offers the most affordable home insurance in Alaska, State Farm is the cheapest option if you have a pool or an expensive home. Allstate has the most affordable policies for newer homes. MoneyGeek analyzed thousands of quotes to calculate average rates and find the cheapest options for your needs.

MoneyGeek used costs and service measures to break down the best homeowners insurance providers in Alaska if you want to balance cost and quality.

MoneyGeek averaged thousands of homeowner insurance quotes in Alaska to find a company that offers the cheapest policy for different dwelling coverages. We found that Country Financial offers the most affordable homeowners insurance in Alaska for a baseline dwelling coverage of $250,000.

• Cheapest for $100,000: Country Financial
• Cheapest for $250,000: Country Financial
• Cheapest for $500,000: Country Financial

USAA offers the cheapest homeowners policy with $500,000 in dwelling coverage; however, its policies are limited to military families and not widely available.

Check the table below to see the costs of a policy with dwelling coverage that suits your needs. You can determine how much dwelling coverage you need by calculating the replacement cost of your home.

Your homeowner insurance costs in Alaska can change significantly depending on how much dwelling coverage you buy. On average, it costs $1,117 per year to insure a home with a baseline dwelling coverage of $250,000.

The amount of dwelling coverage you buy significantly affects the cost of your policy. Buying a policy with maximum dwelling coverage will offer more protection; however, it’ll also increase your insurance costs.

For instance, buying a policy with $100,000 in dwelling coverage costs $670 per year in Alaska, while the average cost of homeowners insurance for a coverage level of $3,000,000 is $10,886 annually. There is a cost difference of $10,216.

To get an estimate of how much your homeowners insurance in Alaska costs, insurance carriers will consider your individual circumstances and area-related factors. Among these are the dwelling value, the home’s age, roof quality and location, along with your credit score and other personal factors.

You can adjust your dwelling coverage limits, deductible and other limits to see how average costs in Alaska will change depending on your needs.

MoneyGeek analyzed thousands of homeowners insurance quotes from different companies to find the cheapest options for individuals looking for a policy with different levels of dwelling coverage.

Our analysis shows that the following companies offer the cheapest policies for expensive homes at $2,000,000 in coverage:

• State Farm: $7,523 per year
• Allstate: $8,000 per year

While USAA offers the cheapest homeowners insurance in the state, its policies are limited to military families.

Since homeowners insurance rates vary greatly, it’s best to shop around and compare quotes to find the best deal according to your needs.

MoneyGeek researched homeowners insurance quotes from many different companies and found that the following companies offer the most affordable homeowners insurance in Alaska at a level of $250,000 in dwelling coverage for newer homes. These rankings are based on a sample home constructed in 2015.

• Allstate: $699 per year
• State Farm: $879 per year

While USAA is the second cheapest option overall, it wasn’t listed because the company only offers policies to military families.

MoneyGeek found that you can save as much as $393 per year on average if your home was constructed in 2015, instead of 2000. The numbers for these 2000 homes differ from the first section due to a different ZIP code collection process.

If your home was constructed in 2015, your homeowner’s insurance rates could differ by $393 per year on average, compared to a house constructed earlier.

Insurance companies charge higher rates for older homes because older homes were often built with materials that are difficult to find and expensive to repair today. Older homes are also considered risky to insure due to wear and tear.

MoneyGeek researched the cheapest homeowners insurance policies with $250,000 in dwelling coverage for individuals who have swimming pools in their homes.

The most affordable options are:

• State Farm: $1,171 per year
• Allstate: $1,293 per year

For military families, USAA offers the most affordable homeowners insurance in the state at an average cost of $1,027 per year. However, it is only available to military members and their families.

Having a pool increases the chances of someone drowning in your home and other pool-related injuries and accidents. That’s why insurers consider homes with pools risky to insure and require you to buy a policy with high liability coverage limits.

Your homeowner’s insurance cost may change if you have a swimming pool in your home. The average homeowner’s insurance cost for homes with a pool in Alaska is $1,164 per year.

MoneyGeek found that the following companies offer the cheapest homeowners insurance policies for individuals with a bad credit score:

• Country Financial: $1,006 per year
• Allstate: $1,823 per year

While USAA is also one of the cheapest options in Alaska, its policies are limited to current and former military members.

If you have a low credit score, you are more likely to file a claim and fall behind on insurance premiums. That’s why insurers consider it risky to insure individuals with bad credit and charge them higher rates.

In Alaska, homeowners insurance costs can significantly change depending on your credit history. For example, MoneyGeek’s research shows that individuals with good credit scores pay as much as $577 less on average than individuals with bad credit scores.

Your location in the state also significantly impacts your homeowner’s insurance rate in Alaska. MoneyGeek’s research shows that Country Financial offers the cheapest homeowners policy in Anchorage with a baseline dwelling coverage of $250,000 and charges an average of $1,006 per year, which is $111 cheaper than the average cost in the city.

When getting homeowners insurance in Alaska, you will have to disclose some basic information. For example, carriers will ask for your name, address, contact information and Social Security number.

You will also need to inform providers how much your home is worth, the value of your belongings inside, what materials were used to build your home, whether it is a single-story or multiple-story house, the current condition of the home, whether you have a home loan, the presence of any recreational items and your distance to a fire department.

Let the insurance carrier know if you have a security system in place or solar energy panels. All of this information is required for a binding home insurance quote estimate from an insurance company.

If you’re looking for an anonymous home insurance estimate, you can use MoneyGeek’s home insurance calculator, compiled using thousands of quotes.

MoneyGeek analyzed homeowners insurance premiums from 4 of the top insurance companies in Alaska that were provided in partnership with Quadrant. Our analysis includes quotes from ZIP codes across Alaska. Quotes were gathered with an average home profile of 2,500 square feet, built in 2000, with an average dwelling coverage value of $250,000, liability coverage of $100,000 and personal property coverage of $100,000.