While homeowners in Alaska may not have to worry about tornados or hurricanes, the Last Frontier sees its fair share of wildfires and strong windstorms. Fortunately, homeowners insurance, an important asset in the face of any natural disaster, is relatively inexpensive.
Compare the best homeowners insurance companies in Alaska
State Farm, Allstate, and Country Financial top our list of the best homeowners insurance companies in Alaska.
To come up with our top picks, we looked at the 15 companies with the highest market share in the state and chose the three with the highest overall Policygenius rating. Our ratings are based on each company's financial strength and customer satisfaction ratings, the number and quality of available coverages, and average policy premiums in over 200 Alaska ZIP codes.
Company | Average monthly cost | Policygenius rating | |
|---|---|---|---|
$125 | 4.8 out of 5 | ||
$135 | 4.4 out of 5 | ||
$102 | 4.1 out of 5 |
Methodology & why you can trust our rates
At Policygenius, our educational guides are written and fact-checked by licensed home insurance experts and reviewed by our Financial Review Council to ensure autonomy, expertise, and accuracy.
To find the best home insurance companies in Alaska, we analyzed over 30,000 quotes from the 15 largest insurance companies in the state to find the average cost of homeowners insurance with each company in 2022.
When analyzing costs for different coverage levels and risk factors, we changed just one variable at a time to ensure the rates we’re comparing are fair and representative of the factor at hand.
We then looked at J.D. Power customer satisfaction scores, AM Best financial health ratings, quality of policy options, discounts, and compared that with the coverage needs of Alaska residents to find the best homeowners insurance in Alaska.
To get the average rate for each company in Alaska, we analyzed rates provided by Quadrant Information Services in March 2022 for over 200 ZIP codes in Alaska for a 40-year-old female homeowner with no claim history, good credit, a $1,000 deductible, and the following coverage limits:
Dwelling: $300,000
Other structures: $30,000
Personal property: $150,000
Loss of use: $60,000
Liability: $300,000
Medical: $1,000
All rates based on the above coverage limits except where otherwise noted.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of costs. Your actual quotes may differ.
2023 Policygenius award winner
State Farm
4.8
Bundle home & auto
Offers extended replacement cost
Offers flood insurance
Offers earthquake insurance
Wind/hail deductible
Offers wildfire insurance
Why we chose it
State Farm is one of the best home insurance companies in Alaska thanks to its large selection of policy options for most home types, high customer service marks, and industry-best financial stability ratings.
Pros and cons
Pros
High customer satisfaction and financial strength ratings
Top-tier coverage add-ons, including extended replacement cost coverage
Offers large discounts when you bundle your home and auto insurance
Cons
20% more complaints filed with the NAIC than other companies of its size
No discounts for first-time homebuyers
More details
Why we chose State Farm
State Farm is known for its dependable customer service. And this goes for all steps of the the customer's journey — from shopping and setting up your policy to making changes to your coverage to filing a claim.
We also like State Farm's robust coverage options, including (but not limited to) extended replacement cost coverage, water backup protection, appliance coverage, and inflation guard.
Plus, while many competitors don't have the financial strength to pay out claims after several natural disasters in the same year, State Farm isn't one of them. It earns the highest rating possible from AM Best for financial strength and stability — only six insurance companies out of nearly 70 we reviewed hold this title.
How do State Farm home insurance rates compare to the Alaska average?
The average cost of State Farm home insurance in Alaska is $1,505 per year, which is 11% more expensive than the average annual premium in the state of $1,355 per year.
How to get a quote
Online through State Farm or by contacting your local State Farm agent.
2023 Policygenius award winner
Allstate
4.5
Bundle home & auto
Smart home discounts
Wind/hail deductible
Why we chose it
Allstate is one of the top home insurance companies in Alaska thanks to its deductible perks and lower rates each year you go without filing a claim.
Pros and cons
Pros
Deductible perks & rate discounts each year you go without filing a claim
Offers water backup protection, other endorsements
Cons
Rates are 20% higher than the state average
Beginning to pull back coverage in high-risk areas
Below-average digital experience rating with J.D. Power
More details
Why we chose Allstate
Allstate is a top home insurance company in Alaska. It offers several home insurance coverages you can add to your policy for more protection, including water backup protection, scheduled personal property coverage, and identity theft restoration coverage.
We also like that you can save money on your premiums and deductible each year you go without filing a claim.
If you're looking to cover your short-term rental, Allstate's HostAdvantage is another perk. HostAdvantage comes with theft protection, coverage for your damaged property ($10,000 per host period), and a $25 discount on cleaning services from Merry Maids.
How do Allstate home insurance rates compare to the Alaska average?
The average cost of Allstate home insurance in Alaska is $1,620 per year, which is 20% more expensive than the statewide average of $1,355 per year.
How to get a quote
Online through Policygenius or Allstate, or by contacting a local Allstate agent
Country Financial
4.4
Why we chose it
Country Financial home insurance is one of the best home insurance companies in Alaska thanks to its strong financial strength ratings, superb customer service scores, and lots of coverage add-ons to ensure your home is fully protected.
Pros and cons
Pros
Rates are 10% below the statewide average in Alaska
Slew of coverage add-ons, including guaranteed replacement cost, flood and earthquake coverage, and water backup protection
Excellent customer service rating — received fewer complaints than other similar-sized insurers in 2021
Cons
Not as many discounts available as other home insurance companies
More details
Why we chose Country Financial
Country Financial made our list of the best home insurance companies in Alaska thanks to its stellar financial strength rating and excellent customer service.
It received fewer customer complaints than other insurance companies of its size in 2021, according to the National Association of Insurance Commissioners (NAIC) complaint index.
It also offers valuable coverage add-ons, including inflation guard protection, water backup coverage, flood insurance, and guaranteed replacement cost coverage for your home.
How do Country Financial home insurance rates compare to the Alaska average?
The average cost of Country Financial home insurance in Alaska is $1,222 per year, which is around 10% cheaper than the annual statewide average of $1,355.
How to get a quote
You can get a Country Financial home insurance quote online, over the phone, or by speaking to a local agent.
How much is homeowners insurance in Alaska?
The average cost of homeowners insurance in Alaska is $1,355 per year or $113 a month. This is 23% cheaper than the national average of $1,754 per year.
Alaska homeowners insurance rates by city
Looking at average home insurance costs for the 20 largest cities in Alaska, we found that Sitka has the cheapest homeowners insurance in the state, followed by Ketchikan and Juneau.
City | Average monthly cost | Average annual cost | Difference from state average (%) |
|---|---|---|---|
Anchorage | $99 | $1,187 | -12% |
Fairbanks | $121 | $1,450 | 7% |
Juneau | $97 | $1,160 | -14% |
Wasilla | $120 | $1,436 | 6% |
Sitka | $86 | $1,027 | -24% |
Ketchikan | $96 | $1,148 | -15% |
Kenai | $102 | $1,225 | -10% |
Palmer | $101 | $1,213 | -10% |
Bethel | $104 | $1,250 | -8% |
Homer | $100 | $1,200 | -11% |
Kodiak | $99 | $1,182 | -13% |
Soldotna | $100 | $1,200 | -11% |
Unalaska | $108 | $1,299 | -4% |
Valdez | $103 | $1,234 | -9% |
Nome | $113 | $1,355 | 0% |
Kotzebue | $107 | $1,281 | -5% |
Seward | $105 | $1,254 | -7% |
Cordova | $105 | $1,256 | -7% |
Dillingham | $116 | $1,390 | 3% |
Houston | $113 | $1,353 | 0% |
Alaska homeowners insurance rates by coverage amount
One of the most important (and expensive) parts of your home insurance policy is your dwelling coverage, since it protects the physical structure of your home from covered hazards like hurricanes and fires.
How much dwelling coverage you purchase should be based on the replacement cost of your home — not its market value. That means even if you paid $600,000 for a home that would really only cost $400,000 to rebuild — you’d only need $400,000 in dwelling coverage.
The table below highlights the average annual premium in Alaska for five different levels of dwelling coverage.
As you can see, the higher your dwelling coverage limit, the higher your premiums.
Dwelling coverage limit | Average annual cost |
|---|---|
$100,000 | $714 |
$200,000 | $1,019 |
$300,000 | $1,355 |
$400,000 | $1,702 |
$500,000 | $2,073 |
Cheapest homeowners insurance companies in Alaska
Based on our analysis, Western National, Country Financial, and USAA are the three cheapest home insurance companies in Alaska, with statewide average premiums ranging from $1,040 to $1,425 per year.
Company | Average annual cost |
|---|---|
Western National | $1,040 |
$1,222 | |
$1,425 | |
$1,505 | |
$1,620 |
Cheapest Alaska homeowners insurance if you have poor credit
Your credit score also plays a role in your home insurance premiums. Homeowners with lower credit scores generally see higher rates, since insurers consider you more likely to file a claim.
With an average rate of $1,040 per year, Western National has the cheapest home insurance rates in Alaska for a homeowner with poor credit, while State Farm's average yearly premium of $2,660 is the highest.
Company | Average annual cost |
|---|---|
Western National | $1,040 |
Country Financial | $1,222 |
USAA | $2,086 |
Allstate | $2,129 |
State Farm | $2,660 |
Cheapest Alaska homeowners insurance if you have an older home
The median age of homes in Alaska is 36 years old, according to an analysis of U.S. census data by House Method. And like everything else, the age of your home plays a role in how much you pay for home insurance in Alaska.
Older and historic homes are usually more expensive to insure than newer homes. This is because insurers consider them a higher risk than newer homes since they can be fragile, their construction materials may be obsolete, and certain structural components like the roof or plumbing may not be in good shape or up to current-day code. Because of this, they'll charge higher premiums to offset the risk.
Here's the cheapest home insurance in Alaska for a 50-year-old home:
Company | Average annual cost |
|---|---|
Western National | $1,040 |
Country Financial | $1,222 |
Allstate | $1,540 |
State Farm | $1,565 |
USAA | $1,798 |
Cheapest Alaska homeowners insurance if you have a history of claims
One of the biggest factors that plays a role in your home insurance premium is your claims history. You'll typically pay more for home insurance if you have multiple claims on your record, since insurers perceive you as posing a greater risk of filing more.
Here's the cheapest home insurance companies in Alaska for a homeowner with three claims within a five-year period.
Company | Average annual cost |
|---|---|
Western National | $1,040 |
State Farm | $1,783 |
Country Financial | $1,926 |
USAA | $2,820 |
Allstate | $4,569 |
Coverage options in Alaska
When you're looking for home insurance in Alaska, you should be aware of what your policy will and won't cover.
In Alaska, you may need to consider additional coverage when buying homeowners insurance to protect against possible flooding, especially if you're in a low-lying part of the state.
Flood insurance
Most homeowners insurance policies don’t cover flood damage, so residents of Alaska who live in at-risk areas will want to consider flood insurance on top of their regular home insurance policies.
In addition to comparing home insurance quotes, Alaska homeowners can also compare private flood insurance rates with Policygenius, or choose a policy through a government entity like the National Flood Insurance Program.
Learn more >> Flood insurance costs in 2023
Frequently asked questions
What is the average cost of home insurance in Alaska?
The average cost of home insurance in Alaska is $1,355 per year or $113 a month.
Is home insurance in Alaska expensive?
No, home insurance in Alaska is 23% cheaper than the nationwide average of $1,754 per year. It's one of the cheapest states for home insurance in the country.
Is homeowners insurance required in Alaska?
While homeowners insurance is not legally required in Alaska, it is often a condition of obtaining a loan from a mortgage lender.
