Best & Cheapest Homeowners Insurance in Anchorage, AK December, 2024
State Farm provides the least expensive homeowners insurance for Anchorage homeowners, with an average yearly rate of $1,144.
We’ve saved shoppers an average of $450 per year on their home insurance.
In our thorough assessment of homeowners insurance providers in Anchorage, Alaska, State Farm stands out as the most budget-friendly option, with an average yearly cost of $1,144. However, it’s important to consider that the best insurer for your situation can vary based on your specific needs.
For instance, if you have a lower credit score, Allstate offers the most affordable choice with an average annual premium of $1,843.
Conversely, if you have valuable personal belongings that need coverage, State Farm is the top pick, providing extensive protection at a reasonable rate of $1,181 per year.
Moreover, if you own a newly built home, Allstate once again presents the most economical solution at $736 per year.
Our thorough analysis at Insuranceopedia aims to help you find the right homeowners insurance coverage. Through customer ratings, personal experiences, and comparison charts, we provide all the necessary details to make an informed decision.
How much is homeowners insurance in Anchorage, AK?
State Farm provides the most budget-friendly homeowners insurance rate in Anchorage, Alaska, with an annual premium of $1,144.
As stated below, homeowners insurance rates in Anchorage are higher than both the national average and the average rate for the state of Alaska.
| Area | Average Monthly Rate |
| National | $1,820 |
| Alaska | $1,127 |
| Anchorage | $1,948 |
It’s essential to grasp insurance rates since they’re not fixed and can vary widely based on different factors.
Cheapest Homeowners Insurance in Anchorage, AK
Our Methodology
To find the most economical home insurance rates in Anchorage, we conducted a detailed analysis using data from multiple home insurance review sites. Some of these sites sourced rates from public filings obtained from Quadrant Information Services. We calculated an average of these rates for this review. However, it's crucial to note that each company's rates can change frequently and will be influenced by your individual circumstances. Our overall rating also takes into account my subjective opinion, drawing from fifteen years of experience as a licensed insurance agent and over three decades of purchasing home insurance policies. This blend of objective data and personal expertise ensures a comprehensive evaluation of the available options.
Quotes Analyzed
Years Of Industry Experience
Brands Reviewed
Research Hours
Cheapest homeowners insurance in Anchorage, AK
State Farm is the top choice for affordable homeowners insurance in Anchorage, AK, with an average annual rate of $1,144, making it the most budget-friendly option overall.
| Company | Annual Premium |
| State Farm | $1,144 |
| USAA | $1,315 |
| Country Financial | $1,392 |
| Allstate | $1,417 |
Your homeowners insurance premium depends on various factors such as your location, home value, and claims history. State Farm strikes a good balance between affordability and extensive coverage, making it a suitable choice for many homeowners.
Cheapest Homeowners Insurance for Newly Constructed Homes
For homeowners who own newly constructed homes, Allstate provides the most cost-effective solution, with an average annual rate of $736.
| Insurance Company | Average Annual Premium |
| Allstate | $736 |
| Country Financial | $752 |
| USAA | $861 |
| State Farm | $1,004 |
Newly constructed homes often require different insurance coverage compared to older homes, and Allstate is known for providing affordable policies designed to meet these specific needs.
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Cheapest Homeowners Insurance If You Have Poor Credit
If you have a poor credit score, Allstate offers the most affordable solution, with an average annual rate of $1,843.
| Insurance Company | Average Annual Premium |
| Allstate | $1,843 |
| USAA | $1,980 |
| State Farm | $2,467 |
| Country Financial | $2,890 |
Your credit score is a key factor in determining your insurance rates because insurers use it to assess risk. Allstate understands the importance of offering fair coverage to all individuals, regardless of their financial background or credit score.
Cheapest Home Insurance Rates for Lots of Personal Property
For homeowners with a significant amount of personal property, State Farm provides the most affordable rates, with an average annual rate of $1,181.
| Insurance Company | Average Annual Premium |
| State Farm | $1,181 |
| Allstate | $1,336 |
| USAA | $1,509 |
| Country Financial | $1,767 |
As your personal property grows, so do your coverage requirements, potentially leading to higher premiums. State Farm tackles this issue by providing comprehensive coverage at affordable rates, ensuring that all your belongings are well-protected without straining your budget.
Best Homeowners Insurance Companies in Anchorage, AK
Selecting the right homeowners insurance isn’t just essential; it’s strategic. Anchorage’s homes have a rich history, mirroring the diversity of its residents. Hence, it’s vital to find an insurance provider that offers thorough coverage at competitive rates.
To simplify your decision-making, we’ve listed the top homeowners insurance companies in Anchorage, AK. These companies were evaluated based on their annual premiums, coverage choices, customer satisfaction ratings, and overall reliability. Check out our comparison chart below to discover the perfect match for your home insurance requirements.
| Company | Annual Premium |
| State Farm | $1,144 |
| USAA | $1,315 |
| Country Financial | $1,392 |
| Allstate | $1,417 |
Average Home Insurance Rates by Zip Codes
The cost of homeowners insurance in Anchorage, AK can vary significantly based on the zip code. Below are tables showcasing rates for different zip codes in Anchorage, along with the the cheapest and most expensive zip codes in the area for annual home insurance premiums.
| ZIP Code | Average Insurance Premium (Annual) |
| 99515 | $934 |
| 99516 | $921 |
| 99507 | $938 |
| 99529 | $957 |
| 99503 | $1,084 |
| 99599 | $1,080 |
Cheapest Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 99515 | $934 |
| 99516 | $921 |
| 99507 | $938 |
Most Expensive Zip Codes
| ZIP Code | Average Insurance Premium (Annual) |
| 99529 | $957 |
| 99503 | $1,084 |
| 99599 | $1,080 |
Average Home Insurance Rates in Anchorage, AK by Deductible Amount
The deductible you select for your homeowners insurance policy has a notable impact on the premium rates in Anchorage, AK. Here’s a breakdown of how the average rates for home insurance vary based on different deductible amounts:
| Deductible Amount | Annual Rate |
| $500 | $923 |
| $1,000 | $847 |
| $2,000 | $770 |
Average Home Insurance Rates in Anchorage, AK By Coverage Amount
One critical factor that impacts your insurance premium is the amount of dwelling coverage you choose. This represents the maximum amount your insurance company will pay to rebuild or repair your home in case of damage or destruction.
Let’s delve into a comparison chart that illustrates the average annual homeowners insurance premiums for various dwelling coverage amounts.
| Dwelling Coverage Amount | Average Annual Premium |
| $200,000 | $714 |
| $250,000 | $847 |
| $300,000 | $930 |
| $350,000 | $1,108 |
| $400,000 | $1,222 |
Average Home Insurance Rates in Anchorage, AK by Company
Here’s a comparison table showcasing annual premiums from some of the top providers in Anchorage:
| Company | Annual Premium |
| State Farm | $1,144 |
| USAA | $1,315 |
| Country Financial | $1,392 |
| Allstate | $1,417 |
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How Much is Homeowners Insurance for Other Cities in Alaska?
The following is a detailed comparison chart that showcases the cheapest companies and their annual premiums across various cities in Alaska.
| City | Annual Premium |
| Anderson | $1,402 |
| Fairbanks | $1,279 |
| Homer | $1,085 |
| Juneau | $1,036 |
Getting Online Homeowners Insurance Quotes in Alaska
Websites like Insuranceopedia make it easier to find the right coverage for your needs. They offer quick online quotes from multiple top-rated insurers, allowing you to compare rates effortlessly.
Simply input your information, and they’ll take care of the rest by presenting you with a variety of options tailored to your needs. This gives you the confidence to choose a policy that provides the best value, effectively balancing cost and comprehensive coverage.
FAQs
Who has the cheapest home insurance in Anchorage, AK ?
State Farm provides the most affordable home insurance in Anchorage, Alaska, with an annual premium of $1,144.
What is the average cost of home insurance in Anchorage, AK?
The typical expense for homeowners insurance in Anchorage, Alaska, is around $1,948 per year.
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