Our editorial team analyzed regional and national home insurance companies that sell policies in Anchorage to assess which offer the best rates, coverage options, customer service, and savings to homeowners. We prioritized competitive rates, 24/7 customer service, homeownership discounts or bundling options, and specialty or supplemental coverages.
In Anchorage, Alaska, homeowners insurance costs an average of $1,163 per year for a policy with $300,000 in dwelling coverage with a $1,000 deductible. A comprehensive homeowners insurance policy is essential in Anchorage, as it covers damage from snow, ice, and freezing. Since Anchorage is also susceptible to flooding and earthquakes, some homeowners may benefit from buying separate flood and earthquake insurance.1 2
Here’s what you should know about finding home insurance in Anchorage.
Best home insurance companies in Anchorage
Many reputable home insurance companies serve homeowners in Anchorage. But the best home insurance company in Anchorage is different for everyone. The right insurer depends on your individual situation, coverage needs, and budget. The list below highlights some of the best homeowners insurance companies, along with their pros and cons.
State Farm: Best company for low rates
Umialik: Best company for comprehensive coverage
USAA: Best company for military families
Cheapest home insurance companies in Anchorage
State Farm is the cheapest home insurance company in Anchorage, with an average premium of $939 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. The following table shows the average premium for some of the top home insurance companies in Anchorage.
How much is home insurance in Anchorage?
The average cost of home insurance in Anchorage is $1,163 per year for a policy with $300,000 in dwelling coverage and a $1,000 deductible. That’s about $97 per month.
Keep in mind that the cost of homeowners insurance in Anchorage is different for everyone. When calculating premiums, insurance companies consider factors like your ZIP code, your credit-based insurance score, your claim history, the size of your home, and the type of home insurance policy you get.
Cost of home insurance by dwelling coverage in Alaska
Home insurance premiums depend on the amount of dwelling coverage you have, which is the portion of your policy that covers damage to your home’s structure.3 The higher your dwelling coverage limit, the higher your home insurance premium.
The table below shows the average home insurance premium in Alaska for different dwelling coverage limits.
Cost of homeowners insurance by deductible amount
Home insurance policies have a deductible — the amount you pay out of pocket before your insurance pays for a covered loss.4 The higher your deductible, the lower your annual premium. If you choose a lower deductible, your premium will increase.
The following table highlights the difference in cost between policies with a $500 deductible and a $1,000 deductible for $300,000 in coverage in Anchorage.
Average cost of home insurance in other cities in Alaska
Different cities in Alaska and ZIP codes within the same cities can have different homeowners insurance rates. Some location-specific factors determining home insurance rates include weather events, proximity to a fire station, and the history of residential burglaries in the area.
The list below highlights the average homeowner policy rates for various cities in Alaska, according to Insurify data.
What to know about owning a home in Anchorage
If you own a home in Anchorage, it’s important to understand the unique risks you might face. The city experiences extreme weather events, like heavy snowfall and avalanches, which can cause significant damage to houses. Fortunately, standard homeowners insurance covers damage from these perils.
But some property damage risks in Anchorage don’t have coverage under a regular home insurance policy. Anchorage is prone to earthquakes and flooding, for example, and standard home insurance excludes these.
You’ll need to purchase separate policies to cover earthquake or flood damage. Many Alaska homeowners insurance companies offer separate earthquake insurance policies or endorsements, and you can buy flood insurance through the National Flood Insurance Program (NFIP) or a private insurer.
Anchorage home insurance FAQs
If you’re shopping for homeowners insurance in Anchorage, this additional information may help as you research insurance companies.
The average cost of home insurance in Anchorage is around $97 per month for a policy with $300,000 in dwelling coverage and a $1,000 deductible. If you want to add endorsements or separate policies, like flood insurance, your total home insurance costs will probably be higher.
State Farm has the cheapest home insurance in Anchorage, with an average rate of $939 per year, based on Insurify data. Allstate is the second-cheapest company, with an average rate of $1,020 per year.
The average home insurance policy in Alaska costs $1,197 per year for $300,000 in dwelling coverage. Average homeowners insurance premiums in Anchorage are roughly the same as the statewide average, with Anchorage homeowners paying about 3% less per year.
No. Progressive doesn’t offer homeowners insurance in Alaska. Some other top home insurance companies serving Alaska homeowners include Allstate, State Farm, and Umialik.
The 80% rule in homeowners insurance states that your dwelling coverage limit must be at least 80% of your home’s replacement value to receive full coverage from your insurer.5 Otherwise, you risk being underinsured if you have a loss.
)
)
)