The Best Homeowners Insurance Companies in Alaska (2022)
Generally, the best home insurance companies in Alaska offer affordable rates, strong customer service, good claims service and financial stability. MoneyGeek evaluated insurance providers in the state and found Country Financial to be the best overall. However, the best option for you may depend on your specific needs.
While Country Financial is the best rated company overall in Alaska, MoneyGeek’s scoring system evaluated the best home insurance companies in Alaska for different types of homeowners since circumstances determine the type of policy coverage that's best for you. Other available coverages and discounts were also reviewed to help you determine what's best for you.
If you have an expensive home or are thinking of bundling your home and auto insurance policies, State Farm is your best option.
MoneyGeek also analyzed the cheapest homeowners insurance providers in Alaska for those more concerned with saving on their monthly bill.
The Best Homeowners Insurance in Alaska
The Best Overall Homeowners Insurance Companies in Alaska
Homeowners insurance is one of the best ways to protect yourself and your household against possible expenses caused by certain incidents. When looking for the best home insurance in Alaska, it is important to consider insurance rates, financial stability, customer satisfaction and claims reputation.
MoneyGeek ranked insurers based on these factors, and the top-rated companies are:
- Country Financial: MoneyGeek score of 93 out of 100
- State Farm: MoneyGeek score of 83 out of 100
Despite getting the highest score of 99 out of 100, USAA was excluded from this analysis because its policies are available only to military families.
MoneyGeek broke down the coverages and discounts Country Financial and State Farm offer to show how they got the highest ratings.
The Top Home Insurance Companies in Alaska
Country Financial got the highest rating among the widely available companies scored by MoneyGeek. It ranked first in affordability with a perfect score of 5. The average cost of Country Financial policies is $1,006 per year.
Aside from affordability, the company also allows policyholders to get additional protection. Among the optional coverages that Country Financial offers is the extended reimbursement, which covers labor costs and construction materials if your home needs to be rebuilt. The company also offers rewards, such as a roofing material discount for homeowners whose roof meets certain testing standards.
State Farm ranked well in financial stability and tied for third in both customer satisfaction and affordability. Its average insurance rate is $1,134 per year. The company provides unique coverages such as home systems protection.
You can find unique coverages rarely offered by other companies at State Farm. One of these is the home systems protection coverage, which covers losses due to abrupt and accidental mechanical or electrical breakdown of equipment permanently installed in your home. However, the company does not offer extended reimbursement and contents replacement cost coverages that are typically offered by insurers.
MoneyGeek balanced home insurance quotes from across the country against property claims ratings and customer satisfaction scores from J.D. Power. The results were evaluated to determine the best home insurance nationally and in Alaska.
Your insurance rates and customer experience may differ depending on your specific circumstances as a homeowner. Read MoneyGeek’s methodology to learn more.
The Best Homeowners Companies in Alaska for Service Quality
Some homeowners may prioritize service quality more than cost. If that is the case for you, MoneyGeek found the best rated home insurance companies in Alaska based almost entirely on customer satisfaction and claims experience.
Based on MoneyGeek’s analysis, the top insurance providers for homeowners looking for quality service are:
- Country Financial: MoneyGeek score of 90 out of 100
- State Farm: MoneyGeek score of 81 out of 100
USAA has a score of 100 out of 100 but was not included in this analysis because it only offers policies to military members and their families.
MoneyGeek outlined the reasons why Country Financial and State Farm are the top options for homeowners who want the best possible service experience.
The Top Home Insurance Companies in Alaska for Quality Service
High ratings for both customer satisfaction and claims mean that Country Financial offers high-quality policy offerings and processes. At the same time, customers report having a good experience with customer service.
Country Financial ranked the highest in this category because of its quality service and affordability. Policyholders can also choose additional coverages like scheduled personal property coverage that will provide a separate enhanced protection for high value items. If you pay on time for three years, you can also get significant discounts.
State Farm got a high rating for customer satisfaction. That means its policy offerings and processes are considered to be high quality.
Having unique optional coverages and a high customer satisfaction rating helped State Farm land the second spot. If you are a member of a homeowners association (HOA), you can get coverage for your portion of a covered loss the HOA assesses to its members. You can also add coverage for buying energy efficient alternatives to certain equipment that needs replacement.
The Best Homeowners Companies in Alaska on a Budget
Affordability can be one of the most important factors some homeowners consider when looking for the best home insurance in Alaska. MoneyGeek ranked the top insurers for homeowners who want to save on their monthly bills but still want stellar service.
The top two companies based on MoneyGeek’s scoring system are:
- Country Financial: MoneyGeek score of 96 out of 100
- State Farm: MoneyGeek score of 84 out of 100
Among the insurance providers MoneyGeek evaluated, USAA got the highest rating of 99 out of 100. However, only military families can get USAA products.
On average, Country Financial home insurance costs $1,006 per year. Meanwhile, the average annual rate of State Farm policies is $1,134. MoneyGeek further broke down the reasons why Country Financial is the top option for individuals on a budget.
The Top Home Insurance Companies in Alaska on a Budget
Most affordable home insurance coverage rate of $1,006 per year
Protective device, home renovation and responsible payment discounts
MoneyGeek satisfaction rating of 4.5 out of 5
Country Financial ranked first for homeowners prioritizing affordability. It has the cheapest average rate among the insurers MoneyGeek evaluated. Additionally, you can also find significant discount offerings. For instance, you can get discounts for having protective devices installed in your home, for getting new or upgraded electrical wiring when having a home renovation and for being claims free for five years.
The company also offers rare rewards like responsible payment, which gives discounts to policyholders who make payments on time for three years. Another possible saving opportunity is for using roofing materials that meet certain testing standards.
The Best Homeowners Companies in Alaska for Expensive Homes
Expensive homes usually have different coverage needs. To find the best home insurance companies in Alaska, MoneyGeek weighed insurance rates for $2 million homes against customer satisfaction.
The companies with the highest scores are:
- State Farm: MoneyGeek score of 83 out of 100
- Allstate: MoneyGeek score of 79 out of 100
While USAA has the highest rating of 100, it was excluded from this analysis since it is only available to active-duty military members, veterans and their families.
MoneyGeek broke down the reasons why State Farm may be the best option if you require a lot of coverage.
The Top Home Insurance Companies in Alaska for High-Value Homes
Cheapest widely available home insurance at an average rate of $7,523 per year
MoneyGeek satisfaction rating of 4.09 out of 5
Does not offer extended reimbursement and content replacement cost coverages
State Farm got a high rating for customer rating. Compared to other insurers, it also has a relatively affordable average rate of $7,523 per year.
A State Farm policy is beneficial for high-value homeowners as it also offers additional coverages like:
- Scheduled Personal Property: Getting this additional coverage will help you increase certain coverage limits. Standard limits are $2,500 for high-value items, $1,500 for business property, $2,500 for firearms and $500 fire department service charges.
- Cyber Event / ID Theft: State Farm policyholders who opt to purchase the identity restoration and fraud loss coverage get protection against case management services costs and reimbursement expenses due to identity theft. Meanwhile, the cyber attack coverage reimburses expenses related to data recovery and system restoration after a cyber attack.
The Best Homeowners Companies in Alaska for Veterans
Veterans looking for the best home insurance in Alaska may want to consider USAA. It ranked highest based on MoneyGeek’s scoring system with a 99 out of 100.
On average, USAA policies cost $1,022 per year. While it is not the cheapest in the state, the company tailors its service to active-duty military members, veterans and military families.
The Top Home Insurance Companies in Alaska for Veterans
USAA home insurance coverages are tailored to the needs of military families
MoneyGeek satisfaction rating of 5 out of 5
MoneyGeek affordability score of 4.89 out of 5
Not available if you do not have a military background
USAA ranked first in customer satisfaction and second in affordability. Having coverages that fit the needs of military families helped it get the highest rating for veterans.
For instance, USAA home insurance policyholders automatically get contents replacement cost coverage. That means your personal belongings are covered based on the current replacement cost without considering depreciation. You can also buy optional coverage like the home sharing coverage that protects you and your guests if you are renting out a room or your entire home.
The Best Homeowners Companies in Alaska for Bundling
MoneyGeek evaluated the best home insurance companies in Alaska for homeowners who are also shopping around for the best auto insurance in Alaska.
Based on MoneyGeek’s analysis, the top options for bundling auto and home insurance policies in the state are:
- State Farm: MoneyGeek score of 81 out of 100
- Allstate: MoneyGeek score of 72 out of 100
If you are looking for home and auto insurance, consider bundling your policies. Aside from getting extra discounts, it is also more convenient to handle both policies if they are with the same company.
The Top Home Insurance Companies in Alaska for Bundling
Home MoneyGeek score of 4.15 out of 5
25% discount for bundling
Auto MoneyGeek score of 3.45 out of 5
State Farm ranked high overall in the home insurance category. While it did not get a high overall rating for auto insurance, its perfect score in the discount category earned it the top spot.
Additionally, the company also offers unique home insurance coverages. One of these is the mold coverage, which covers up to $20,000 worth of damages due to fungus like mold. For your auto insurance policy, you can add rideshare insurance. If you work for a ridesharing company, this add-on extends your medical, emergency roadside assistance and rental car reimbursement coverage while the app is on and you are available for hire.
How to Find the Best Home Insurance in Alaska
If you are looking for the best home insurance in Alaska, it helps to evaluate affordability, financial stability and customer service reputation. MoneyGeek collected this information for you, but you can go through the process yourself to learn more about certain insurance companies.
Research Customer Service Reputations in Alaska
MoneyGeek collected insurance quotes from various companies and weighed them against customer service reputation. If you want to further research about a company, you can do so by looking up J.D. Power satisfaction scores and NAIC complaints rations in your state. You can also learn more about home insurance by visiting the Alaska Division of Insurance website.
Compare Quotes for Yourself
The insurance rates MoneyGeek used for this analysis are average costs for sample drivers in most of Alaska. However, they may not apply everywhere and for all types of homeowners. To find the best home insurance in Alaska, shop around. Compare quotes from at least three insurance companies to figure out how much insurance costs for you.
Make Sure the Company Has Coverages You Want in Alaska
There are instances when advertised coverages and discounts are not available to all states. Make sure the features you are interested in are available in your area. Confirm with insurance companies.
Double-Check Financial Stability Ratings
Before buying a policy, consider checking the financial strength rating of the insurance company. While regional insurance companies in Alaska tend to charge less for homeowners insurance, larger insurance providers are usually more financially stable.
FAQs About the Best Home Insurance in Alaska
MoneyGeek answers some frequently asked questions to help you find the best home insurance companies in Alaska.
MoneyGeek scores for homeowners insurance in Alaska were calculated by using a scaled and weighted average of J.D. Power Property Claims and Customer Satisfaction Scores, real homeowners insurance quotes and financial stability ratings from A.M. Best. Our scoring system weighted J.D. Power scores 60%, affordability 30% and financial stability 10%, adjusting weightings in the sections focused on affordability and service experience specifically.
MoneyGeek analyzed homeowners insurance quotes from 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.
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