Best Alaska Home Insurance (August 23)

How can a resident find the best home insurance in Alaska? Don't worry! We have analyzed all the major insurance companies to give you the best home insurance rates in the state.

Alaska homeowners insurance: What you need to know

Homeowners insurance in Alaska costs $1,241 yearly on average. The rate is lower than the national average rate.

Alaskan residents may not have to worry about hurricanes or tornadoes. Still, the state recently got affected by many wildfires and powerful windstorms. Fortunately, homeowners insurance is reasonably priced, and it helps you cover the damage from some natural disasters. So we have covered the cost of the best home insurance in Alaska. Continue reading to know more!

What does a homeowners insurance policy cover?

Typically, a home insurance policy provides these coverages - Personal Property, Liability, Dwelling, Medical Payments to Others, Additional Living Expenses, and Other Structures. Also, it provides the following additional coverage.

• Guest medical protection: It covers medical costs for anyone hurt while on your property.

What isn't covered by a typical homeowners insurance policy?

It is important to know what a homeowners insurance policy doesn't cover. Usually, a policy doesn't offer coverage for damages caused by earthquakes, flooding, nuclear threats, war, wear and tear, power outages, insect and vermin infestations, sinkholes, or intentional loss. Therefore, while buying home insurance in Alaska, you must thoroughly check your policy's coverages.

The cheapest home insurance companies in Alaska

The insurance cost can vary based on the insurer you choose. With an average annual rate of $739, Safeco offers the most affordable home insurance in Alaska. Country offers the second-best home insurance policy with a yearly rate of $813. You must compare all the insurers to find the best homeowners insurance in Alaska.

The best homeowners insurance in Alaska for those with poor credit

Alaskans who have bad credit must pay more for a home insurance policy. Insurance firms see them as a risk as they're more likely to file claims.

Western National offers the most reasonable home insurance rates in Alaska for a homeowner with poor credit, costing an average of $1,052 annually. At the same time, State Farm has the highest, costing an average of $2,672 yearly.

The best homeowners insurance in Alaska for pool owners

Due to the increased risk of accidents and liability claims, pool owners may see a higher rate for homeowners insurance in Alaska. Western National offers the most affordable Alaska home insurance for homes with swimming pools, with an average yearly premium of $1,064. USAA has the most costly rates, with an average premium of $1,732 yearly.

The best homeowners insurance in Alaska for dog owners

Due to liability concerns, some insurers consider some dog breeds 'dangerous.' If you own one of these breeds, you can expect to pay more for your homeowners insurance in Alaska. With an average annual rate of $1,052, Western National offers the lowest home insurance premiums in Alaska for a house with a dangerous dog breed. At the same time, USAA has the most, with an average yearly premium of $1,732.

Homeowners insurance deductibles in Alaska

When looking for a house insurance policy, Alaskan homeowners must make several choices, including the amount of their deductible. The total sum the insured contributes toward a covered loss is the deductible. The amount of your home insurance deductible directly affects how much it will cost you. So, consider raising your deductible if you want to pay less for your Alaska home insurance. Do not forget that your homeowners insurance deductible shouldn't be so large that it would be difficult for you to cover it in the event of a loss.

Alaska home insurance prices by coverage levels

The rate of homeowners insurance in Alaska depends on the amount of homeowners coverage. In Alaska, maintaining a $100K dwelling coverage costs $581 annually, while having $400K in dwelling coverage needs around $1,458 annually.

Alaska homeowners insurance costs by city

The rate of Alaska homeowners insurance may vary. The insurance rate depends on factors like ZIP code and the number of claims in your area. The insurance rates in various cities are as follows.

Home and auto insurance bundling in Alaska

What's the best way by which you can lower the cost of home insurance in Alaska? It is by bundling your auto insurance and home insurance policies.

Home insurance discounts in Alaska

The simplest approach to lower the cost of homeowners insurance in Alaska is to take advantage of the discounts offered by all the insurers. The state's largest insurers often provide these discounts.

Comparing common features across top companies

Are you trying to buy the best home insurance in Alaska? Then you must check whether the insurance company offers these features!

Common causes of home insurance claims in Alaska

Due to its location, Alaska's weather is among the top worries for homeowners. The state experiences harsh winter weather for a major portion of the year. These are a few causes leading to state home insurance claims.

• Earthquake
• Wildfires
• Floods

Does homeowners insurance cover flooding in Alaska?

Alaska home insurance policies do not cover flood damage. Purchase insurance via the National Flood Insurance Program (NFIP) of FEMA or a private insurer to protect your house against flood damage. Private flood insurance policies may offer different coverage; however, NFIP flood insurance offers the following coverage.

• Your home's structure - $250,000
• Personal property - $100,000

Does homeowners insurance cover earthquakes in Alaska?

A standard policy doesn't cover it. So, a resident should buy earthquake insurance separately to cover the damages to their home due to an earthquake. It is vital as the state experiences around 1,500 earthquakes a year.

Residents of earthquake-prone areas can expect a higher rate for homeowners insurance in Alaska. Along with earthquakes, aftershocks are a major worry. Aftershocks can still be dangerous and cause damage even after the quake's initial occurrence. Fortunately, this coverage allows you to pay a single deductible for damage resulting from the main earthquake and any aftershocks occurring within 72 hours.

These are the list of top Alaska earthquake insurance options. Contact the respective insurer if you want to know about the actual rate.

Factors that affect home insurance rates in Alaska

Are you looking best home insurance in Alaska? Then check these factors before buying one.

• Your location: The insurance rate depends on where you live. Factors like the ZIP Code or the crime rate in your area can impact the rate.
• Replacement cost: the Alaska home insurance premiums will vary depending on the rate of labor and building materials in your location.
• Age/condition : You will need to pay a higher insurance rate for newer properties than for older ones.
• Claims history: All insurers will consider you risky if you file claims regularly. Then expect to pay higher insurance premiums.
• Credit history: Most insurers in Alaska will look for your credit score when you apply for a home insurance policy. Be ready to pay more for home insurance if your credit score is low.
• Dog breed: Many home insurance companies in Alaska classify some dog breeds as 'dangerous.' The rate of homeowners insurance in Alaska may increase if your insurer considers your dog so.

Tips for buying homeowners insurance

Are you seeking the best home insurance in Alaska? Then follow these tips before buying one.

• Assess your rebuilding costs: Ask an insurance agent or a builder how much it would cost to replace your home using cheap building materials and local labor.
• Review the benefit of replacement cost over actual cash value: Purchasing replacement cost insurance for your home and other belongings may be necessary.
• Consider add-on coverage for your expensive items: You will require personal property coverage if you have expensive belongings like high-end electronics, sporting equipment, musical instruments, or even old antiquities.
• Evaluate your liability coverage needs: Calculate the minimum liability insurance limit you require.
• Assess coverage gaps: Some insurance companies offer higher limits for landscaping items like trees and bushes.
• Check financial ratings: All insurance companies will have ratings from companies like AM Best and Standard & Poor's. For instance, some firms won't let you apply for a loan if your insurer doesn't have a minimum 'A' financial strength rating.
• Check for discounts: Use all discounts your insurance company offers that you qualify for.
• Compare quotes from various insurance companies: Depending on the insurance provider, the price of homeowners insurance in Alaska may vary. You must compare various insurers' rates to get the finest home insurance in Alaska.

How to get Alaska home insurance with Way.com

On average, homeowners insurance in Alaska costs $1,241 annually. Though the rate is lower than the national average rate, you can even get one for a much lower rate. But how can you get one?

That's where Way.com can help you! Use our app or website to get quotes from all insurers in the state. Then compare quotes and buy the policy with the cheapest Alaska homeowners insurance rate. But do you need additional help? Then our insurance agents in Alaska can help you. They will make you understand the state's most complex home insurance terms, laws, coverages, and discounts. So, contact one of our insurance agents if you want to buy the best homeowners insurance in Alaska.