Cheapest Homeowners Insurance in Alaska (2024 Rates)


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Updated: May 22, 2024

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In Alaska, various providers cater to distinct needs with cheaper options. For instance, while COUNTRY Financial is most affordable for $100K coverage, American Family is the go-to for those desiring $750,000 in coverage. On the other hand, Umialik Insurance is the cheapest for individuals with at least one claim in the past five years.

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2024

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Why Trust MoneyGeek? MoneyGeek used information from the Alaska Department of Insurance and Quadrant Information Services to obtain data on insurance rates, discounts and more.

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These rates reflect the cheapest home insurance quotes in Alaska as of 2024.

Overall Cheapest Homeowners Insurance in Alaska

Looking for the most affordable home insurance in Alaska? COUNTRY Financial is your best bet for $100K Dwelling Coverage, with an annual premium of just $538. Keep in mind home insurance rates fluctuate due to your dwelling coverage. Here are the top budget-friendly choices in Alaska:

  • Cheapest for $100,000: COUNTRY Financial $538 per year
  • Cheapest for $250,000: Umialik Insurance $1042 per year
  • Cheapest for $500,000: COUNTRY Financial $1963 per year Check out MoneyGeek's table for more on how dwelling coverage affects cheap home insurance rates.
Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
COUNTRY FinancialAnnual Premium$538
Umialik InsuranceAnnual Premium$590
State FarmAnnual Premium$910
AllstateAnnual Premium$978

Compare Alaska Home Insurance Quotes Online

Finding affordable home insurance in Alaska is easier when comparing quotes from multiple insurers, although it often requires sharing personal information. Use MoneyGeek’s intuitive home insurance calculator for Alaska to receive quotes quickly and without giving away personal details initially.

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Rates updated:

Jul 15, 2024

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Cheapest Home Insurance in Alaska for High-Value Homes

For home insurance policies that need higher dwelling coverage limits, COUNTRY Financial offers the cheapest option in Alaska at an average annual cost of $2,982. Homeowners with high-value homes in Alaska need higher dwelling coverage levels to cover the costs of replacing or rebuilding their home in case of an accident — but higher limits often incur greater costs.

Here are the least expensive options:

  • Cheapest for $750,000: COUNTRY Financial at $2,982 per year
  • Cheapest for $1MM: COUNTRY Financial at $4,025 per year

When deciding on dwelling coverage, make sure it matches your home's replacement cost, not its market value. Find out the costs of home insurance by dwelling coverage for high-value homes below.

Data filtered by:Results filtered by:
Coverages:
Coverages:$750K Dwelling / $375K Personal Property / $500K Liability
Construction Year:
Construction Year:2000
COUNTRY FinancialAnnual Premium$2,982
Umialik InsuranceAnnual Premium$3,006
State FarmAnnual Premium$3,784
AllstateAnnual Premium$4,170

Cheapest Home Insurance in Alaska for New Homes

The cheapest home insurance for new homes in Alaska comes from COUNTRY Financial, with an annual rate of $326 for $100K in dwelling coverage. Newer homes in Alaska are generally cheaper to insure due to their up-to-date building standards and lower risk of structural issues, meaning a lower likelihood of claim.

For other coverage amounts, here are the companies with the lowest rates:

  • Cheapest for $100,000: COUNTRY Financial at $326 per year
  • Cheapest for $250,000: Allstate at $540 per year
  • Cheapest for $500,000: Allstate at $995 per year

For a more in-depth look, review MoneyGeek's table below and see how costs can change by dwelling coverage for those with new homes.

Data filtered by:Results filtered by:
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
COUNTRY FinancialAnnual Premium$326
Umialik InsuranceAnnual Premium$354
AllstateAnnual Premium$361
State FarmAnnual Premium$556

Cheapest Home Insurance in Alaska for Low Credit Scores

In Alaska, COUNTRY Financial is the most affordable home insurance for individuals with poor credit, offering $100K in dwelling coverage. Insurers in Alaska use your credit score to determine the likelihood of you failing to meet payments. See how rates can change if you have poor credit:

  • Cheapest for $100,000: COUNTRY Financial at $538 per year
  • Cheapest for $250,000: Umialik Insurance at $1,042 per year
  • Cheapest for $500,000: COUNTRY Financial at $1,963 per year

Having a good credit score generally leads to more favorable rates. For instance, an Alaskan homeowner with an Excellent credit score may pay an average of $669 per year for insurance, $455 less than the cost for a homeowner with poor credit.

'Good' credit tier typically costs $370 less per year for home insurance in Alaska than a 'Poor' credit tier, depending on the conditions.

Data filtered by:Results filtered by:
Credit Score:
Credit Score:Poor
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
COUNTRY FinancialAnnual Premium$538
Umialik InsuranceAnnual Premium$590
AllstateAnnual Premium$1,339
State FarmAnnual Premium$2,027

Cheapest Home Insurance in Alaska with a Claims History

Umialik Insurance offers the most affordable home insurance in Alaska for homeowners with at least one claim in the past 5 years, costing an average of $590 per year. Having a prior claim leads to higher insurance costs due to the perceived increased risk.

For a home built in 2000 with no claims in the past five years, here are the cheapest providers for different coverage levels:

  • Cheapest for $100,000: Umialik Insurance at $590 per year
  • Cheapest for $250,000: Umialik Insurance at $1,042 per year
  • Cheapest for $500,000: Umialik Insurance at $2,024 per year

For Alaska homeowners, the cost of insurance increases with more claims. The average annual cost of a policy for a homeowner with no claims in the past five years is $754, but if you have at least one claim, the rates can jump by $491 per year.

Look at the table below to see how rates can change depending on your claims history, desired dwelling coverage and home's construction year.

Data filtered by:Results filtered by:
Claims History:
Claims History:1 claim in past 5 years
Construction Year:
Construction Year:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Umialik InsuranceAnnual Premium$590
COUNTRY FinancialAnnual Premium$679
State FarmAnnual Premium$1,040
AllstateAnnual Premium$1,763

Cheapest Home Insurance in Alaska by Home and Roof Materials

The type of construction and the materials used in your home's roof significantly influence your home insurance cost. In Alaska, COUNTRY Financial offers the cheapest home insurance premium at $549 annually for a home with frame construction and a shake-treated roof. These factors raise the price of home insurance as they present a higher risk to the insurance company, as frame construction and shake-treated roofs are less able to withstand the severe Alaskan weather.

The lowest premiums in Alaska for different dwelling coverages are:

-Cheapest for $100,000: COUNTRY Financial at $549 -Cheapest for $250,000: Umialik Insurance at $1,042 -Cheapest for $500,000: COUNTRY Financial at $2,022

There is a notable cost difference when comparing homes with frame construction and shake-treated roofs to those with superior construction and with tile roofs. On average, there is a $120 annual premium difference. This is of particular importance in Alaska, where superior construction and tile roofs offer more protection against inclement weather, reducing the risks for insurance providers.

Data filtered by:Results filtered by:
Home Construction Type:
Home Construction Type:Frame
Roof Material:
Roof Material:Shake-Treated
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
COUNTRY FinancialAnnual Premium$549
Umialik InsuranceAnnual Premium$590
State FarmAnnual Premium$910
AllstateAnnual Premium$1,012

Cheapest Home Insurance in Alaska by Deductible

By simply changing your deductible, you could save hundreds of dollars annually. In Alaska, the cheapest home insurance for a $2000 deductible is from COUNTRY Financial, costing $497 per year. This is in contrast to the lowest premium for a $500 deductible from the same company, costing $595 per year. The premiums offered by COUNTRY Financial at different deductible levels are as follows:

  • $2,000 deductible: $497 per year
  • $1,500 deductible: $497 per year
  • $1,000 deductible: $538 per year
  • $5,00 deductible: $595 per year

In home insurance, the deductible is the sum you pay before insurance coverage starts. The average cost difference for a $500 deductible versus a $2,000 one is $131 across all insurers.

Data filtered by:Results filtered by:
Deductible:
Deductible:2000
Coverages:
Coverages:$100K Dwelling / $50K Personal Property / $100K Liability
Construction Year:
Construction Year:2000
COUNTRY FinancialAnnual Premium$497
Umialik InsuranceAnnual Premium$532
State FarmAnnual Premium$839
AllstateAnnual Premium$871

Cheapest Home and Auto Bundle Insurance in Alaska

Opting to consolidate your auto and home insurance in Alaska could lead to substantial savings, with State Farm emerging as the most affordable choice at an average annual rate of $1,667. Following closely is Allstate, where the average policy costs around $2,382 annually.

The advantage of bundling your home and auto insurance extends beyond financial savings, as it also offers the convenience of managing two policies with a single provider. This streamlined approach saves you time and enhances communication as you only engage with one point of contact. Explore the best insurance bundles in Alaska to begin reaping these benefits.

State FarmAnnual Premium$1,667
AllstateAnnual Premium$2,382

About Mark Fitzpatrick


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Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.

Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.