Forests provide a variety of ecosystem goods and services to society, which often have the typical characteristics of a public good: non-excludability and non-rivalry. One of these services is avalanche protection of forests. A monetary valuation of this service would be helpful to provide efficient and effective protection to the local population. We present the results of a case study from the Swiss Alps, where we determined the willingness to pay for avalanche protection based on a choice experiment combined with virtual reality visualizations. Furthermore, we compare these results with the costs of alternative technical measures for natural hazard mitigation as well as with the results of a risk-based evaluation. We conclude that the willingness to pay for avalanche protection of forests is about the same range as the collective risk related to a 300-years avalanche event and within a range similar to the per-household costs of alternative measures. However, willingness to pay is substantially higher than the costs of silvicultural measures to maintain protection forest.