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The 4 Best Homeowners Insurance Companies in Alaska

When looking for the best home insurance in Alaska, you need to compare personalized quotes from different providers. Consider how comprehensive the coverage is, the cost of the policy, the provider’s customer satisfaction and their ability to pay claims. You also have to make sure that you can get in contact with an insurance agent should you ever need to make a claim for damages.

To help you decide on the best provider for your needs, MoneyGeek ranked the top four insurance companies based on the affordability of Alaska homeowners insurance rates, J.D. Power customer satisfaction and AM Best’s financial stability rating.


1

USAAScore: 99

4.9/5

Affordability

5/5

User Satisfaction

5/5

Financial Stability


USAA also offers cheap home insurance in Alaska. Both its J.D. Power customer satisfaction and AM Best financial stability ratings are high. You also have multiple options that allow you to bundle policies for discounts. Completing your transactions using USAA’s mobile app is convenient as well. However, the company has strict membership qualifications and is only available to military members, veterans and their families.

2

Country FinancialScore: 95

5/5

Affordability

4.5/5

User Satisfaction

4.5/5

Financial Stability


If you are looking for cheap home insurance in Alaska, then consider COUNTRY Financial. The company receives high J.D. Power customer satisfaction and AM Best financial stability ratings. Policyholders have access to various insurance coverage options, from basic to more comprehensive. You can get optional additions like extended replacement cost, high-value item, seasonal dwelling and loss assessment coverages, among others. Additionally, customers can easily pay bills and make claims online. The company also has a household inventory tool that will help you keep track of your possessions.

Read MoneyGeek's Country Financial Home Insurance Review

3

State FarmScore: 86

4.1/5

Affordability

4.1/5

User Satisfaction

5/5

Financial Stability


Convenience is a perk State Farm policyholders enjoy with their rate calculator, mobile app, online bill payment, online claims application and household inventory tool. Coverage ranges from standard — which includes replacement value, dwelling, personal property, liability protection, other structures, medical payment and guest medical payment coverage — to comprehensive policies that allow you to add optional inclusions like expanded replacement cost, inflation protection, water backup, scheduled personal property, equipment breakdown, energy efficiency upgrade, identity theft and loss of use. You can also get discounts depending on the inclusions.

Read MoneyGeek's State Farm Home Insurance Review

4

AllstateScore: 73

3/5

Affordability

4.2/5

User Satisfaction

4.5/5

Financial Stability


Like other providers, Allstate has technology that makes its services more accessible. Alaska homeowners can easily estimate their premiums with the rate calculator, pay bills and make claims online, keep track of their belongings with the household inventory tool and use various services through the mobile app. Allstate has more options than some of its competitors. A standard policy includes dwelling coverage with adjustable deductibles for any perils, other structure coverage, personal property, additional living expense and loss-of-use, liability protection and guest medical coverage. If you want more protection, you can get additional inclusions like reimbursement extended limits, water backup, scheduled personal property, extended coverage, sports equipment, earthquake and identity theft. Depending on which coverages you buy, you can get discounts that can lower your premium.

Read MoneyGeek's Allstate Home Insurance Review

What Is the Average Cost of Homeowners Insurance in Alaska?

$0
$0

home insurance is 0.0% more than the average.

Cheap homeowners insurance in Alaska is not hard to find, especially since the state average annual premium is roughly half of the $2,103 national average. Alaska homeowners typically pay an average of $1,117 per year for a dwelling coverage baseline amount of $250,000.

Generally, insurance carriers calculate rates depending on risks associated with an individual, while area-related concerns, such as extreme weather conditions, are taken into consideration as well.

Home Insurance Calculator: Estimate the Cost of Homeowners Insurance in Alaska

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.

moneygeek-logo

Home Insurance Calculator

State

Alaska

Dwelling Coverage

$250,000

Deductible

$500

Liability

$300,000

Personal Property

$150,000

Credit Score

Excellent
moneygeek-logo

low end

on average

high end

These are annual estimates. Get a personalized quote to determine your costs.

The Cheapest Homeowners Insurance Quotes in Alaska

If you want cheap homeowners insurance in Alaska, then COUNTRY Financial may be the best option for you. A standard policy for a dwelling coverage baseline amount of $250,000 costs an average of $1,006 per year, which is 10% lower than the state average.

Carriers use dwelling coverage to help estimate homeowners insurance in Alaska. It covers repairs for physical structure damages due to external factors, such as fire, smoke, theft, explosions, vandalism, falling objects and hail. If you think you will need more comprehensive coverage or want to find out how much homeowners insurance in Alaska costs from other carriers, then you have to compare personalized quotes.

Cheapest Homeowners Insurance by Dwelling Coverage

Dwelling Coverage:

$250,000
Company
Amountper year
1. Country Financial
In 2020, Country Financial ranked #1 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Alaska.
$1,006
2. USAA
In 2020, USAA ranked #2 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Alaska.
$1,022
3. State Farm
In 2020, State Farm ranked #3 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Alaska.
$1,134
4. Allstate
In 2020, Allstate ranked #4 for the cheapest homeowners insurance with $250,000 in dwelling coverage in Alaska.
$1,306

Best Cheap Homeowners Insurance Companies for Expensive Homes

While a cheap price can be an attractive feature, it may not offer the best protection. Your policy needs will change depending on your needs. If you have an expensive home, your most affordable option comes from USAA. The average annual premium from this carrier is $4,195 for a $2 million home.

However, if you do not qualify for their policies, you can check out State Farm. Their average policy for a $2 million home costs $7,523 per year, while a similar policy from Allstate has an average annual premium of $8,000. The best way to find cheap homeowners insurance that suits your circumstances is to compare personalized quotes.

Cheapest Homeowners Insurance Companies for High-Value Homes
Company
Amountper year
1. USAA
In 2020, USAA ranked #1 in Alaska for the cheapest homeowners insurance for high-value homes.
$4,195
2. State Farm
In 2020, State Farm ranked #2 in Alaska for the cheapest homeowners insurance for high-value homes.
$7,523
3. Allstate
In 2020, Allstate ranked #3 in Alaska for the cheapest homeowners insurance for high-value homes.
$8,000
4. Country Financial
In 2020, Country Financial ranked #4 in Alaska for the cheapest homeowners insurance for high-value homes.
$9,184

Best Homeowners Insurance Companies if You Have a Pool

Some people have additional property features like a pool, which can affect how much home insurance costs in Alaska. With the added risks that a pool may bring, you may have to get additional coverage.

USAA offers an average annual premium of $1,027 for a home with a pool, while State Farm has a similar policy for an average of $1,171 per year. In addition, homeowners with pools may want liability coverage in case someone gets injured in your pool.

Cheapest Homeowners Insurance for Pool Home
Company
Amountper year
1. USAA
In 2020, USAA ranked #1 in Alaska for the cheapest homeowners insurance for homes with a pool.
$1,027
2. State Farm
In 2020, State Farm ranked #2 in Alaska for the cheapest homeowners insurance for homes with a pool.
$1,171
3. Allstate
In 2020, Allstate ranked #3 in Alaska for the cheapest homeowners insurance for homes with a pool.
$1,293

Cheapest Home Insurance in Alaska if You Have Poor Credit

In many states, insurance carriers also look at the credit score of a homeowner to determine the cost of annual premiums. Generally, having poor credit will result in more expensive premiums. Thankfully, you can improve your credit score by paying down your credit card debt and making sure your credit utilization rate remains below 30%.

However, it is still possible to find cheap homeowners insurance in Alaska even if you have a low credit score. For homeowners with poor credit, COUNTRY Financial offers an average annual premium of $1,006 for a dwelling coverage baseline of $250,000.

Cheapest Homeowners Insurance for Poor Credit
Company
Amountper year
1. Country Financial
In 2020, Country Financial ranked #1 for the cheapest homeowners insurance for owners with poor credit in Alaska.
$1,006
2. USAA
In 2020, USAA ranked #2 for the cheapest homeowners insurance for owners with poor credit in Alaska.
$1,475
3. Allstate
In 2020, Allstate ranked #3 for the cheapest homeowners insurance for owners with poor credit in Alaska.
$1,823
4. State Farm
In 2020, State Farm ranked #4 for the cheapest homeowners insurance for owners with poor credit in Alaska.
$2,435

How to Get Homeowners Insurance Quotes in Alaska

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 also have 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. If you have a security system in place or solar energy panels, let the insurance carrier know. All of these factors will be used to determine how much your homeowners insurance costs in Alaska.

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Other Considerations for Homeowners Insurance in Alaska

There are many factors affecting the cost of homeowners insurance in Alaska. Your location is among those that have a big impact. If you live in a place that is at risk of experiencing hazardous weather conditions, you may need to have a more comprehensive policy. If you want to be more prepared for emergencies, you may want optional inclusions that will allow you to make claims in case you need to repair your home.

You also have to consider the average home value in the state, along with crime rates and other risks. Alaska ranks 13th among all states in terms of home value, as the average cost of a home in the state is $300,889.

When it comes to crime, the FBI reported a total of 6,526 violent crimes in Alaska in 2018. During the same year, the state also recorded a total of 24,339 incidences of property crime. Both of these figures represent higher-than-average crime rates compared to other states.


Do You Need Flood Insurance in Alaska?This is an icon

Generally, Alaska homeowners do not need to worry about flooding, but the possibility will vary depending on your location. If you think your property is at risk of flood damage, then you may want to consider getting flood insurance. Insurance carriers do not usually offer this coverage, so you will have to check if your community participates in government-sponsored National Flood Insurance Program (NFIP) policies.

Do You Need Hail Insurance in Alaska?This is an icon

Alaska does not have a high risk of damage from hail events. It ties with Hawaii for the fewest hail events recorded per year. In some years, the state records no hailstorm occurrences.

Methodology

MoneyGeek analyzed homeowners insurance premiums from 16 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.

Sources