Compare Homeowners Insurance Quotes In Alaska

On average, your neighbors pay $81 a month.

See Your Rates

Best Home Insurance Rates In Alaska

While Alaska is the biggest US state, it’s also the least populous. Because of its size, the 49th state's geography is as varied as it is beautiful. Alaska experiences extremely cold temperatures and high levels of precipitation, both of which can be a homeowners insurance hazard.

Average Alaska Homeowners Insurance Rates

Alaska is right in the middle when it comes to average homeowners insurance rates. In 2014, the Insurance Information Institute reported that the average cost of homeowners insurance in Alaska was $976. That is a bit lower than the national average of $1,132. Alaska ranks 25th, so more than half of all states have higher premiums, and half have lower.

Alaska Average Annual Homeowners Insurance Rates
  2012 2013 2014
Alaska Annual Average $942 $980 $976
Alaska Price Per Month $78 $81 $81
US Annual Average $1,034 $1,096 $1,132
US Cost Per Month $86 $91 $94
National Rank 25 25 30
Source: http://www.iii.org/fact-statistic/homeowners-and-renters-insurance

Choosing a homeowners insurance company in Alaska should be easier. Actually, it’s already easy; you could just go with whichever company your mortgage lender recommends, but you probably won’t get the best rates that way. The key to finding the cheapest rates is to compare home insurance quotes in Alaska from multiple companies.

Best Alaska Home Insurance Companies

Last year, these were the most common home insurance companies reported by QuoteWizard users living in the state of Alaska. Out of the 2,337 Alaska homeowners that used QuoteWizard to request insurance quotes last year, 187 had no home insurance.

  1. Allstate Insurance
  2. Geico
  3. USAA
  4. Progressive Casualty
  5. Country Financial
  6. Safeco
  7. AAA Insurance Co.
  8. Hartford Insurance Co.
  9. Liberty Mutual
  10. Farmers
Get a quote from some of these top rated insurers! Request Quote Get a Quote From Top Insurers

Why contact every individual company in Alaska that you want a homeowners quote from when you can just answer a few questions about your home and desired coverage, and get competing quotes from agents? Save time and money with QuoteWizard.

Top 10 Alaska Homeowners Insurance Company Market Share

Source: National Association of Insurance Commissioners
Rank Company Direct Premiums Written (in thousands) Market Share
1 Allstate $36,771 22.98%
2 USAA Insurance Group $25,709 16.07%
3 Country Financial $13,110 8.19%
4 Liberty Mutual $12,851 8.03%
5 Western Mutual Group $8,602 5.38%
6 Horace Group $3,655 2.29%
7 Farmers Insurance Group $2,445 1.53%
8 Hartford Insurance $1,614 1.01%
9 IAT Reinsurance Co. $35,207 2.3%

Financial Strength Ratings of Top Alaska Home Insurers

Source: A.M. Best (Ratings as of 8/5/2015)

  • American International Group: A
  • Liberty Mutual: A
  • Alaska National Insurance Co.: A
  • Allstate: A+
  • United Service Automobile Assurance Co.: A++
  • Geico: A++
  • Zurich Insurance Group: A+
  • Progressive Group: A+
  • Travelers Companies Inc.: A++
Get a quote from some of these top rated insurers! Request Quote Get a Quote From Top Insurers

Rating Guide

Homeowners Insurance Rate Factors

Many different factors come into play when insurance companies calculate the cost of homeowners insurance. Some, like the age of your home, are within your control. Others, like crime rates or natural disasters, are beyond your control. Here are some of the factors that affect the cost of homeowners insurance in Alaska.

Average Home Listing Prices

Home prices can greatly affect the cost of insurance in any given state. A higher average home price generally means higher premiums in that state. For Alaska, the average listing price is $286,805, as of July 2015, roughly equal to the national average of $284,748.

Average Burglary Rates

Burglary is a serious and sometimes violent property crime. States with higher average burglary rates generally have higher average homeowners premiums, because the likelihood that someone will need to file a claim is higher. According to data from the FBI Uniform Crime Report, in 2013, Alaska’s average burglary rate was 396.7 per 100,000 people, which is considerably lower than the national average of 610.0 per 100,000.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In Alaska, there are 84.6 law enforcement personnel per 100,000 total citizens. This is more than twice the national median of 32 law enforcement per 100,000 citizens.

Home Insurance Hazards

Due to its size, variety of weather and terrain, and geographic location, Alaska’s hazards are diverse. Cold winters are probably the best well-known feature of Alaska’s climate, but precipitation and seismic activity can be just as severe, if not worse.

States with more law enforcement per capita tend to be safer than states with fewer policemen and women. In Alaska, there are 84.6 law enforcement personnel per 100,000 total citizens. This is more than twice the national median of 32 law enforcement per 100,000 citizens.

Extremely cold and snowy winters: Alaska’s winters bring new meaning to the word “freezing.” In 1971, it set the record for the USA's coldest ever temperature, at -80 degrees. That said, frozen winters are an annual tradition in Alaska, and in the interior of the state, the temperature can remain below freezing through May. Alaska’s biggest city, Anchorage, has high temperatures below 32 degrees until March, though it usually emerges from these sub-freezing conditions by April. And, because the state is so huge, some parts experience completely different weather than others. North and central Alaska are much more arctic in nature, while southern parts are much more temperate.

Alaska’s cold winters are also marked by heavy snowfall, and parts of south central Alaska average up to 300 inches of snow annually. Specifically, in Valdez, they average 326 inches of snow per year. And, Thompson Pass holds the record for the USA's snowiest year, with 974 inches in the winter of 1953. Though this is extreme, snow occurs every year, in most places in Alaska. In Haines, in the typically more moderate southeast part of the state, they average 262 inches of snow per year. Surprisingly, the far north parts of the state where it is extremely cold, usually sees less snow than the south, where winter temperatures warm up earlier.

Rain and flooding: Some parts of Alaska receive unusually large amounts of precipitation. The southeast region of Alaska gets the most rain. For example, Yakutat averages 155 inches of rain per year and 240 days of rain per year. Even in less-rainy parts in the far north, they still receive over 100 days of rain per year, though the amount of rain is far less. Even in Anchorage, where they experience 115 days of rain per year, the average total is only about 17 inches, meaning that rain occurs often, but is not severe. These rains often cause flooding, especially as snow melts in the summer. As such, rain season peaks in July and August, in most parts. It is important to note that the only way to obtain flood insurance is through the National Flood Insurance Program. Learn more about the NFIP here.

Heat waves and drought: Despite freezing winters and an extremely northern location, Alaska’s summers are occasionally marked by heat waves. On Memorial Day 2015, it was 91 degrees in Alaska, hotter than it was anywhere in Arizona. Even towns within the Arctic Circle felt the extreme and record-breaking heat.

The National Drought Monitor ranks drought conditions from D0 (abnormally dry) to D4 (exceptional drought). As of July 2015, about 70% of Alaska was experiencing D0 or above, and 20% of the state was experiencing D1 (moderate drought) or above. According to this data, about 465,000 Alaska residents are affected by these drought conditions. In the summer, drought and heat waves form a deadly combination: wildfires. Between April and July of 2015, over 2.4 million acres in Alaska burned.

Earthquakes: Alaska, the most seismically active state, sits at the border between the North American and Pacific plates, a region known as the “Pacific Ring of Fire.” Seismic activity occurs daily, but is usually unnoticeable. Stronger earthquakes can cause damage to homes and infrastructure, and can cause death by way of collapsing structures, landslides, and aftershocks. An earthquake like the famous 1964 Good Friday earthquake in Alaska can cause serious destruction, so it’s important to discuss this with your insurance agent. Most standard homeowners insurance policies don’t cover earthquake damage, so if you want to be protected, you should talk about adding earthquake coverage to your homeowners policy.

Alaska Division of Insurance

Website:
Homepage
Insurance Commissioner:
Lori Wing-Heier
Insurance Hotline:
(907) 465 - 2515
Office Hours:
Monday - Friday
8:00 am to 5:00 pm
File a Consumer Insurance Complaint
Complaint Page

Sources:

QuoteWizard.com LLC has made every effort to ensure that the information on this site is correct, but we cannot guarantee that it is free of inaccuracies, errors, or omissions. All content and services provided on or through this site are provided "as is" and "as available" for use. QuoteWizard.com LLC makes no representations or warranties of any kind, express or implied, as to the operation of this site or to the information, content, materials, or products included on this site. You expressly agree that your use of this site is at your sole risk.