Home Insurance in Lake and Peninsula Borough, Alaska
Homes in Lake and Peninsula Borough carry a median value of $237,500 - 33% lower than the Alaska median.
The typical home in Lake and Peninsula Borough was built around 1986. About 7% of homes were built before 1960, in line with Alaska (8%). Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
In Lake and Peninsula Borough, the housing stock is 92% single-family homes, 1% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
In Lake and Peninsula Borough, about 28% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Lake and Peninsula Borough has an owner-occupancy rate of 65% and a vacancy rate of 76%; unoccupied homes typically need a different coverage form.
Most homes in Lake and Peninsula Borough - 83% - are primarily heated with fuel oil. 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 Low), wildfire (Very Low) and winter weather (Relatively Low) as the leading hazards for Lake and Peninsula Borough. Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
Lake and Peninsula Borough has no active NFIP flood policies on file. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
The statewide average premium for a standard HO-3 homeowners policy in Alaska is $1,216 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $237,500 |
|---|---|
| Median year built | 1986 |
| Owner-occupied share | 65% |
| Share of owner-occupied homes with a mortgage | 28% |
| Top hazards (FEMA National Risk Index) | Earthquake (Relatively Low), Wildfire (Very Low), Winter Weather (Relatively Low) |
| 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)