Average homeowners insurance cost in Anchorage, AK

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The average cost of homeowners insurance in Anchorage is $1,373 per year (for the coverage level of $300,000 for dwelling, $100,000 for liability protection and $1000 deductible), based on Insure.com’s rate data analysis. It’s $1,209 less than the national average of $2,582.

However, homeowners insurance rates can vary drastically from one home to another. Home insurance rates in Anchorage depend on a number of factors, including:

Size of your home
Age of your home
Amount of coverage you need
Location
Your credit score

To make sure you are getting the best deal on home insurance, it is important to get quotes from multiple insurers to find the right coverage for your needs. Read this guide to know how much homeowners insurance cost per month in Anchorage, home insurance cost for different dwelling coverage, also know which companies offer cheap home insurance in Anchorage.

In this guide, we will explain everything from what coverage options are available to which companies have the cheapest rates for homeowners insurance in Anchorage.

Key Takeaways

The average cost of homeowners insurance in Anchorage is $1,373 per year.
Western National Mutual is the cheapest homeowners insurance company in Anchorage with an average annual premium of $1,124.
If you increase your dwelling coverage from $200,000 to $300,000, you will just have to pay $286 more a year for home insurance.

Average homeowners insurance cost in Anchorage per month

According to Insure.com’s rate analysis, residents of Anchorage pay an average of $114 per month for homeowners insurance. This is $27 less than the state average of $141 and $101 less than the national average for home insurance across the United States. The cost of your homeowners insurance policy in Anchorage can vary depending on your location, property value, and selected coverage options.

Average homeowners insurance cost for a $200,000 house in Anchorage

Homeowners insurance for dwelling coverage of $200,000 and liability protection of $100,000 costs $1,087 per year in Anchorage, AK. Numerous factors influence your annual home insurance rates, including any natural disaster or event in your locality. For instance, certain regions have a higher risk of natural calamities such as floods, hurricanes, or tornadoes, implying higher expenses for rebuilding in these areas. These increased rebuilding expenses result in increased insurance premiums.

It is important to note that your insurance plan may not cover flood or hurricane damages. So, if you reside in an area prone to flooding, consider buying flood insurance coverage.

Average homeowners insurance cost for a $300,000 house in Anchorage

According to Insure.com’s rate analysis, homeowners in Anchorage typically pay an average of $1,373 annually for a home insurance policy with $300,000 in dwelling coverage, $100,000 in liability protection, and a $1,000 deductible.

If you increase your dwelling coverage from $200,000 to $300,000, your home insurance rates will rise by $286. It is advisable to purchase enough insurance to cover the entire cost of rebuilding your home. The required amount of dwelling coverage can vary based on factors such as the size of your home, its features, and the cost of living in your area.

Average homeowners insurance cost in Anchorage by company

Among the carriers analyzed, Western National Mutual is the cheapest homeowners insurance company in Anchorage. It’s average annual rate for Anchorage homeowners is $1,124, while State Farm ranks second.

Before choosing a homeowners insurance policy, it is important to do some research on the company. Our experts have analyzed all the insurance companies across Anchorage and prepared a list of the cheapest home insurance providers. You can find below the Anchorage home insurance companies and their average annual premium.

Home Insurance Company	Annual rate
Western National Mutual	$1,124
State Farm	$1,142
Country Financial	$1,332
Allstate	$1,523
USAA*	$1,497

How home insurance protects you against natural disasters

Home insurance plays an important role in safeguarding your property and belongings from the financial burden caused by natural disasters. While standard policies usually cover damages from events like windstorms, hail and lightning, certain disasters, such as floods, earthquakes and wildfires, require additional coverage.

These types of damage are generally not included in a standard home insurance policy, so homeowners must purchase separate flood or earthquake insurance to be fully protected.

Home insurance can cover repair costs for structural damage, replace lost or damaged belongings and provide funds for temporary living arrangements if your home is rendered uninhabitable. This coverage offers financial support, helping homeowners recover more quickly from the impacts of natural disasters.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for homeowners insurance rates in Anchorage for $300,000 dwelling coverage and $100,000 liability coverage with a $1,000 deductible. The data presented are those with a good credit tier alignment.

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Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.