Popular Questions about Homeowners Insurance in Alaska

Alaska homeowners insurance costs an average of $959 per year, which is significantly lower than the national figure of $1,211 annually. If you want exact rates on your Alaska home coverage, you'll have to obtain quotes specific to your property and personal information.

The amount of coverage you'll need to protect your home, family, and liability exposure is different from anyone else. That's why each Alaska homeowners insurance policy is unique to your needs and limits are set based on your individual risk factors. With Alaska having $64.6 million in home insurance claims paid in one year alone, the right protection is necessary to avoid serious financial loss. 

In Alaska, you'll be met with several exposures that could cause damage to your property. Home insurance is tailored to your needs, but there are basic limits that come standard on all Alaska home policies. Dwelling value, other structures, personal property, liability, medical payments, and additional living expenses are included. These coverages protect against losses related to a fire, severe weather, theft, or vandalism. 

Your Alaska home insurance rates will be calculated by each carrier using the following factors:

  • Replacement cost of home
  • Past claims reported
  • Local crime rate
  • Local natural disasters
  • Coverages selected

Like most states, Alaska has certain requirements when it comes to insurance coverage. However, Alaska does not mandate a home insurance policy when you own a property. If you have a mortgage or lender on your home, they will require proof of coverage in order to obtain a loan. 

Yes, Alaska has 33 independent insurance agencies that work with dozens of carriers. This saves you time and premium dollars when it comes to shopping for coverage. Plus, an independent agent will do the comparing for free, making it a no-brainer.

Do You Know What Your Alaska Home Insurance Covers?

Find the Best Homeowners Insurance in Your City

How does your city measure up to the national average?

National average burglary rate 3.76 per 1,000 people

National average home value $269,000

National average home insurance cost $1,211 year

CityAvg. home valueBurglaries / 1,000 ResidentsAnnual insurance cost
  1. $83
  2. Anchorage, AK Monthly average home insurance cost
  3. The average monthly cost of homeowners insurance in Anchorage is $83.
  4. Your price for homeowners insurance is likely to be different from your neighbor’s because rates are based on several factors such as the size and value of your house, the age of your roof, your claims history, and the amount of your deductible. Your quoted rate for home insurance may therefore be higher or lower than the city’s average.
  5. One of the most devastating events a homeowner can deal with is a residential fire. In addition to damaging the structure of your house, a fire can lead to the total loss of your personal belongings, including furniture, clothing, electronics, and precious family heirlooms. While homeowners insurance cannot bring back your irreplaceable keepsakes, it can give you peace of mind from knowing that the disaster will not cause you a large financial loss. Because fire is so destructive, it is important that you ensure that your dwelling coverage is sufficient to enable you to rebuild your home and that your contents coverage is high enough to cover the cost of replacing all of your lost or damaged property.

  1. $85
  2. Juneau, AK Monthly average home insurance cost
  3. The average monthly cost of home insurance in Juneau is $85.
  4. Of course, the price you may be quoted for coverage may differ from this amount depending on a number of factors. Your actual rate will be calculated according to considerations like the age, size and value of your house, the crime rate and weather risks in your ZIP code, your claims history, and sometimes even your credit score. 
  5. One of the most common hazards faced by homeowners in Juneau is property crime. In this small city residents report around 200 burglaries in a typical year. Fortunately, your home insurance covers against property loss and damage to your house if you are the victim of a property crime like burglary or vandalism.

  1. $74
  2. Fairbanks, AK Monthly average home insurance cost
  3. The average monthly cost of home insurance in Fairbanks is $74.
  4. Keep in mind, however, that homeowners insurance rates in can vary from one property owner to the next. Your actual rate will be based on factors like the size, value, and location of your home, the materials used in your house’s construction, the crime rate in your ZIP code, the size of your deductible, and, in some cases, even your credit score.
  5. Residents in the Fairbanks area are familiar with the devastating effects a flood can have on property. While nothing has compared to the Great Flood of 1967 in recent years, property owners near the Tanana and Chena rivers are a risk when water levels rise. According to FEMA, as little as one inch of rainwater in your home can lead to $25,000 in property damage, but homeowners insurance specifically excludes flood damage from its coverage.

  1. $70
  2. Badger, AK Monthly average home insurance cost
  3. The average monthly cost of home insurance in Badger is $70.
  4. Because your homeowners insurance is completely customized to specific details about you and your home, your monthly premium may be higher or lower than this city’s average. Insurance companies consider your home’s size, value, location, and other factors when they calculate your monthly rate. 
  5. Residents of Badger are most at risk for damage caused by winter storms, floods, and wildfires. In 2013, the Stuart Creek Fire burned more than 87,000 acres and caused more than $21 million in damage. This put residents of Badger at risk of losing their homes to the out-of-control blaze. While wildfires can be particularly destructive, it may bring you some comfort to know that your homeowners insurance can cover your losses if a fire tears through your neighborhood.

  1. $78
  2. Knik-Fairview, AK Monthly average home insurance cost
  3. The average monthly cost of homeowners insurance in Knik-Fairview is $78.
  4. Of course, some homes cost more to insure than others so rates are determined on a case-by-case basis. This average rate, therefore, can only give you a general idea of what you might be expected to pay. Your costs will be influenced by the size and value of your house, your claims history, your deductible amount, and other factors.
  5. The historical earthquake activity in Knik-Fairview is a whopping 8,361% greater than the national average. While quakes do not happen frequently, when they do, they have the potential to damage the structure of your home as well as your personal property. One of the worst was a 9.2 magnitude quake that occurred just 74 miles from Knik-Fairview in 1964. This quake caused more than $1 billion in damage. However, earthquakes are not covered by home insurance. For that, you will need an earthquake insurance policy.