Home Insurance in Kenai Peninsula Borough, Alaska
The median home value in Kenai Peninsula Borough is $323,200, 8% lower than the Alaska median.
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Kenai Peninsula Borough was built around 1990. About 4% of homes were built before 1960, about 3 points below Alaska's 8%.
The housing stock in Kenai Peninsula Borough is 85% single-family homes, 5% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Kenai Peninsula Borough, about 52% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 26%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 77% of occupied homes in Kenai Peninsula Borough are owner-occupied.
54% of homes in Kenai Peninsula Borough are primarily heated with natural gas. Homes heated with fuel oil and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA's National Risk Index lists earthquake (Relatively High), wildfire (Relatively Moderate) and winter weather (Relatively High) as the leading hazards for Kenai Peninsula Borough. Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
As of September 2026, Kenai Peninsula Borough has 354 active NFIP flood insurance policies. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Alaska carries a statewide average premium of $1,216 per year.
Key figures
| Median home value | $323,200 |
|---|---|
| Median year built | 1990 |
| Owner-occupied share | 77% |
| Share of owner-occupied homes with a mortgage | 52% |
| Top hazards (FEMA National Risk Index) | Earthquake (Relatively High), Wildfire (Relatively Moderate), Winter Weather (Relatively High) |
| Active NFIP flood policies (county) | 354 |
| Home insurance premium | $1,216 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)