Find the Cheapest Insurance Quotes in Your Area
The state with the largest land area (663,268 square miles) has one of the smallest populations. However, there are still plenty of renters, especially in the state’s largest city, Anchorage. To see which residents have the cheapest renters insurance our study evaluated quotes for a sample property (roughly 1,000 square feet and $100,000 in liability coverage). Our study found that the cost of insuring the same rented unit can differ by 17% from the most expensive to the most affordable spot in Alaska.
- Cheapest Renters Insurance Companies
- Best Renters Insurance Rates: by City
- Average Cost of Renters Insurance: by City
- Study Methodology
To find the cheapest renters insurance in Alaska, we collected quotes from major insurance carriers in the state for a 1,000 square-foot residence. Our study found that Allstate had the most affordable rate at $139, which is 66% cheaper than the average annual rate of the most expensive insurance carrier in Alaska, Assurant Specialty Property. Below are the average annual rate of the five major renters insurance providers in the state, ranked from cheapest to most expensive:
|Rank||Cheapest Renters Insurance Company||Average Annual Rates|
|5||Assurant Specialty Property||$410|
The above rates were for a profiled property. To determine the best renters insurance company for yourself, we recommend that you obtain quotes from multiple companies and compare them.
The places with the cheapest renters insurance in Alaska are all located on the islands and peninsulas in the Alaskan Panhandle. None are very populous and some are accessible only by boat or sea plane. The cheapest place, Ketchikan, has renters insurance rates that are 5.1% lower for our sample property than the study’s average for the state.
|Rank||Cities||Average Annual RateS*||% Difference vs State Average|
*The Average Annual Rate is rounded to the nearest whole dollar amount.
Mike Martin purchased 160 acres of land from Chief Kyan in 1885, and that area later became the township of Ketchikan. The Cape Fox Tlingits and Tongass that used Ketchikan Creek called the area 'kitschk-hin' which meant 'thundering wings of an eagle' and used it as a fishing camp. The large resources of timber and fish also attracted outsiders to Ketchikan. Seven canneries were in operation by 1936 and later on, several lumber mills opened there. Ketchikan has the cheapest renters insurance quotes in Alaska, with rates for the sample property 4.8% lower than our study’s state average.
Main access to Juneau is by sea or air - the Juneau International Airport (JNU) has one runway and one seaplane landing area. It also is served by the Alaska Marine Highway System (AMHS), a ferry service operated by the state of Alaska for communities in the southeastern part of the state that have no road access. Due to its natural beauty, Juneau's harbor is also a port of call for many cruise ships. Renters insurance premiums for our study’s benchmark house are 4.5% lower than the state average, which places Juneau with the second best renters insurance rates in Alaska.
Petersburg, Alaska is a census-designated place with a population of about 3,300 residents. It is located within the Petersburg Borough on Mitkof Island. The place is named after Peter Buschman, a Norwegian immigrant who established it as a successful fishing port. Premiums for our sample property here rank Petersburg with the third lowest renters insurance costs in Alaska; rates also are 4.5% lower than the state average.
The name Sitka was derived from an Indian term meaning 'people on the outside of shee.’ It became the capital of Russian America in 1808 and later was the first capital of Alaska until 1912. The official transfer of Alaska to the United States took place here Oct. 18, 1867. The popular 2009 film The Proposal, starring Sandra Bullock and Ryan Reynolds, takes place in Sitka, although it was not filmed there. Like Juneau and Petersburg, residents in Sitka pay 4.5% less for renters insurance than our study’s sample property.
Haines is another Census designated place in Alaska. It’s near Glacier Bay National Park and Reserve, which covers 3.3 millions acres of mountains, glaciers and coastlines. The only U.S. Army post in Alaska before World War II was located in Haines. The place has the fifth cheapest renters insurance quotes in Alaska, where tenants pay 3.9% less than the state average.
The most expensive places to insure our study’s sample rental property are scattered throughout the state of Alaska. It costs 10.1% more to insure the most expensive city, Barrow.
|Rank||Cities||Average Annual RateS||% Difference vs State Average|
Barrow is located above the Arctic Circle and is the northernmost U.S. city and the 11th northernmost community in the world. It has roughly 4,350 residents who are subjected to the lowest average temperatures of all the cities in Alaska - the temperature is only above freezing (32 degree Fahrenheit) 120 days each year. Renters insurance premiums for the sample property in Barrow are 11.2% higher than the state average.
Delta Junction, AK
With a population of just under 1,000 residents, Delta Junction had been the site of a U.S. military outpost since World War II. Fort Geely was built right after the war and closed in 1995, but a missile defense system has since been built there. Though not as expensive as Barrow, renters insurance rates for our sample property in Delta Junction are still 6% higher than the study’s average for Alaska.
Another census designated place in Alaska, Kalifornsky is on the eastern shore of the Cook Inlet of the Kenai Peninsula. For Alaska, temperatures in the place are relatively mild, with lows reaching between 14 and 27 degrees Fahrenheit. The economy also is fairly diverse, with industries such as oil and gas processing, commercial and sport fishing, timber and tourism. It’s the third most expensive place for renters insurance in Alaska, with rates for our sample property 5.8% lower than the state average.
There is no road system connected to Seldovia - all outside transportation is done by plane or boat. The Alaskan native people to the area still make up approximately 25% of the population of about 260 residents. To insure our sample property in Seldovia means only paying 4.1% more than the study average for Alaska.
The census designated place is only accessible by road via the Kenai Spur Highway. It is primarily an oil and gas town and most residents are employed by the industry. Renters insurance quotes in Nikiski are the fifth most expensive in Alaska, but rates are only 1.9% more than the state average.
We gathered renters insurance quotes for our sample property from five major carriers across 34 cities in Alaska for our study. The study resulted in a mean renters insurance rate of $278 for the state of Alaska and showed that the most expensive renters insurance rates were 17% higher than the cheapest. Relative to other states, that difference between the cheapest and the most expensive is mild. In the state of California, for example, the most expensive premiums are more than 2x the cost of the cheapest.
Our study examined renters insurance quotes for a 1,000-square-foot residence with at least $25,000 in personal property coverage and $100,000 in liability coverage. We then collected quotes for that sample residence from five of the major carriers that offer a renters insurance product in the state of Alaska. We averaged rates for the sample home in each city as a benchmark to show which cities are relatively cheaper or more expensive. Those comparative values are not indicative of what tenants can expect to pay for an annual renters insurance premium.
|Rank||Cities||Average Annual Rate||% Difference vs State Average|
|18||Dutch Harbor (Unalaska)||280||0.6%|
|31||Kalifornsky (Soldotna) or Kasilof||294||5.8%|
|21||Knik Fairview (Wasilla)||280||0.6%|
*The Average Annual Rate is rounded to the nearest whole dollar amount.