The Cheapest Renters Insurance Quotes in Alaska (2024)
Allstate has the cheapest renters insurance quotes in Alaska, with an average of $13 per month.
Compare Cheap Renters Insurance Quotes in Alaska
Best Cheap Renters Insurance in AK
ValuePenguin editors found the best cheap renters insurance companies in Alaska by looking at rates, customer satisfaction, coverage options and discounts.
Our experts calculated average renters insurance rates by gathering quotes from four top companies across 22 major cities in Alaska.
Cheapest renters insurance in Alaska
The average renters insurance cost in Alaska is $23 per month.
Allstate has the cheapest renters insurance in Alaska, at $13 per month for $30,000 of personal property coverage. That's 45% cheaper than the state average.
Compare Cheap Renters Insurance Quotes in Alaska
Compare Cheap Renters Insurance in Alaska
Alaska renters should compare quotes from State Farm, too. Renters insurance from State Farm costs $14 per year — just one dollar more per month than Allstate.
Cheapest renters insurance companies in Alaska
Company | Monthly cost | ||
|---|---|---|---|
| Allstate | $13 | |
| State Farm | $14 | |
| Assurant | $27 | |
| Progressive | $32 | |
Best renters insurance in Alaska for most people: State Farm
-
Editor's rating
- Cost: $14/mo
State Farm offers the best combination of cheap rates and reliable customer service in Alaska.
-
Affordable coverage
-
Renters-auto bundling discount
-
Flood insurance available
-
Good customer service
-
Few discounts
State Farm offers the best renters insurance for most renters living in Alaska. A policy from State Farm costs an average of $14 per month. That's 45% cheaper than the average price of insurance across the state, and only $1 per month more than the cheapest option overall.
You won't find many discounts at State Farm, but the company offers a few, including one key one: a bundling discount. If you buy your renters and car insurance from State Farm, the company will give you a discount on both. State Farm is also one of the cheapest car insurance companies in Alaska.
Renters will find fairly good coverage options at State Farm, including flood and earthquake protection. Alaska is prone to earthquakes, especially in southern AK near the Denali fault. State Farm also offers replacement cost coverage, which provides the full cost to buy an item if it's damaged or stolen — not just what it was worth at the time of the incident.
State Farm renters insurance coverage options
- Earthquake coverage
- Replacement cost coverage
- Water backup
- Identity theft
- Valuable items
- Extended liability
State Farm's customer service is middle of the road, but it's among the best widely available options for Alaska renters. It performed a little better than average in J.D. Power's renters insurance satisfaction survey but receives slightly more complaints than a typical renters insurance company.
Cheapest renters insurance quotes in Alaska: Allstate
-
Editor's rating
- Cost: $13/mo
Allstate has some of the cheapest renters insurance in Alaska.
-
Cheapest quotes in Alaska
-
Large discount for bundling policies
-
Mediocre customer service
-
Not available statewide
Allstate has the cheapest insurance for Alaska renters, at $13 per month for $30,000 of personal property coverage. That's about $10 per month less than the Alaska state average.
Renters who have a car can take advantage of Allstate's bundling discount for even more affordable rates. If you purchase renters and car insurance policies from Allstate, you can usually save between 2% and 3% on both policies.
Renters can also get discounts by setting up autopay or paying for a yearlong policy up front.
However, renters who choose Allstate will be sacrificing customer service for cheap rates. Customers are relatively likely to be unhappy with the service they receive. The company receives about 30% more complaints than other similar-sized insurers, according to the NAIC.
Unfortunately, Allstate also doesn't sell renters insurance statewide. It only offered quotes in about 45% of the cities ValuePenguin surveyed.
Best renters insurance for military members in Alaska: USAA
-
Editor's rating
USAA offers excellent service, but only if you're connected to the military.
-
Top-rated customer service
-
Includes replacement cost coverage
-
Military-specific benefits
-
Only available if you have a military connection
-
No in-person offices
Military members living in Alaska should consider renters insurance from USAA. The company offers top-rated customer service.
You're eligible for a USAA renters insurance policy if you're a current or former member of the U.S. armed forces, or if your parent or spouse has had a USAA policy.
A basic renters insurance policy from USAA includes replacement cost coverage. That means the company will pay you enough to replace any property damaged in a covered loss with brand-new items.
USAA renters insurance offers some military-specific benefits, too. If you're on active duty, your uniform and other equipment are covered by your policy with no deductible. And your policy will cover losses that occur in active war zones outside the U.S. Most insurance companies don't permit you to make a claim for an active conflict.
USAA has some of the best customer service in the insurance industry. It received the best score of any company in J.D. Power's annual satisfaction survey, and has far fewer complaints than its competitors. Customers are very likely to be happy with the service they receive.
So long as you're eligible, the only downside to USAA is the lack of in-person service. Unlike most insurance company top picks, it doesn't have any offices in Alaska. That means you'll have to sign up, manage your policy and make claims over the phone or online.
Alaska renters insurance costs: Cost by city
Renters living in Bethel, a small town in the western part of the state, can expect to pay the most for renters insurance, at $31 per month.
Coverage may also be hard to come by at all in Bethel. Among major companies in Alaska, only one offers coverage in Bethel: Progressive.
The cheapest city in Alaska for renters insurance is the state capital, Juneau, where the average rate is $21 per month. That's 10% below the state average.
City | Monthly rate | % from average |
|---|---|---|
| Anchorage | $22 | -2% |
| Badger | $21 | -8% |
| Bethel | $31 | 34% |
| College | $21 | -8% |
| Fairbanks | $21 | -8% |
Tips for getting cheap renters insurance in Alaska
To save money on renters insurance in Alaska, you should compare quotes, look for discounts and consider your coverage needs.
Don't buy more coverage than you need. The dollar amount of coverage you buy should equal the value of your belongings (plus a little extra for a buffer). If you have a higher level of personal property coverage than you need, you're overpaying.
But don't buy too little coverage, either. Doing so means you won't be fully reimbursed when making a claim.
You can save hundreds of dollars per year without sacrificing coverage by comparing quotes. The cheapest Alaska renters insurance, Allstate, costs $233 less per year than the most expensive option, for the same level of coverage.
You should always compare quotes each year because rates can change over time. The cheapest company today might not be the same one as last year.
Most Alaska renters insurance companies offer discounts to lower your rates.
The best discounts for renters insurance are generally for bundling with your auto insurance, and for paying your annual bill up front, instead of one month at a time.
Common renters insurance discounts in Alaska
- Renters-auto bundling
- Claims free discount
- Automatic payments
- Pay in full
- Loyalty
- Home protection device
What renters insurance do I need in Alaska?
Alaska experiences many types of natural disasters, only some of which are covered by regular renters insurance.
Wildfires
As a large, wooded state, Alaska often experiences wildfires.
About 300,000 acres burned in Alaska in 2023, which made up about one-tenth of the total U.S. wildfire area in 2023.
Renters insurance policies will usually pay for damage caused by fire and smoke. However, if you live in a remote area at high risk for a wildfire, you may need to check with several companies to find one that will sell you coverage.
Flood insurance for Alaska renters
Renters insurance never pays for flood damage.
Instead, damage from a flood is covered by flood insurance. If you live in a rental house or first-floor apartment that is at risk of flooding, you will need to buy a separate policy, either from the National Flood Insurance Program (NFIP) or a private insurance company. Your renters insurance company may sell flood coverage, but you aren't required to buy the two policies from the same company.
Earthquakes in Alaska
Alaska experiences more earthquakes than any other state, especially along the Denali fault in the southern part of the state.
Unfortunately, renters insurance doesn't cover earthquakes or other ground movement like landslides by default. Some insurance companies offer earthquake endorsements, but you may have to look at several companies to get coverage.
Frequently asked questions
Who has the cheapest renters insurance in Alaska?
Allstate offers the cheapest renters insurance quotes in Alaska. Coverage from Allstate costs $13 per month, on average.
Is renters insurance required in Alaska?
Renters insurance is not legally required in Alaska. However, your property management company or landlord may require you to purchase a policy as a part of your lease agreement.
What does renters insurance cover in Alaska?
The most basic renters insurance policies should offer four main coverages: personal property coverage, liability coverage, medical payments to others and loss of use coverage. Some companies also offer optional add-ons that renters may find useful, like identity theft and replacement cost coverage.
How much does renters insurance cost in Anchorage, AK?
Renters in Anchorage can expect to pay $22 per month for insurance coverage. That's $1 cheaper per month than the Alaska state average. In comparison, people living in Juneau pay an average of $21 per month for renters insurance, which is the lowest rate in the state.
Methodology
ValuePenguin collected quotes from across Alaska's 22 largest cities for a single 30-year-old woman who has never filed a renters insurance claim. Coverage limits include:
- $30,000 of personal property coverage
- $9,000 for loss of use
- $500 deductible
- $100,000 of personal liability
- $1,000 of medical payments to guests
Customer service ratings were created using cost data, information from the National Association of Insurance Commissioners (NAIC) complaint index scores and J.D. Power's renters insurance customer satisfaction study rankings.
These rates should be used for comparative purposes only. Your quotes will likely differ.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.