You may be looking for auto insurance in Alaska and not know where to start. This blog post will help you find the best auto insurance in Alaska while saving money. INSNEED ranked auto insurers from across the state based on various factors, which can help you decide what auto insurance company is right for you. When it comes to finding car insurance, many options are available that provide various coverage levels at different prices. Compare rates from some of the most popular companies in your area today!
Cheapest Minimum Liability Car Insurance Companies and Quotes in Alaska
Car insurance coverage rates are a contentious issue in Alaska. The cheapest car insurance available varies based on what type of policy you need and how much liability protection your vehicle needs to be covered by the insurer if it hits something or somebody that isn’t their fault, including other drivers who don’t have adequate auto accident coverage for themselves. When you determine what minimum liability coverage you need, the cheapest insurers are:
- USAA: $328 per year (The only military-oriented auto insurance is available to current and former military members and their families.)
- GEICO: $453 per year
Last year, the most expensive car insurance in Alaska was offered by Progressive, and it had an annual average cost of $714.
AVERAGE COST FOR LIABILITY COVERAGE
The prices listed above are what an Alaska driver would pay for a minimum liability coverage policy based on quotes from insurance providers. These rates should not be used to compare prices as they only represent the average driver and could vary widely depending on your driving habits, vehicle type, and other factors influencing rates.
You know those huge numbers you see when shopping for car or home insurance? They’re great if you want some ballpark figures but don’t let them confuse you into thinking all of these estimates will apply equally to your situation – it’s best just to get insured with one company instead (or two) so there is no confusion about pricing down the line!
AutoInsurenceIT EXPERT TIP
The minimum liability policy in Alaska is the cheapest option for car insurance and only covers bodily injury damages. Drivers looking to cover their cars against damage need a full-coverage plan, which offers higher levels of protection than this basic package.
Cheapest Coverage Car Insurance in Alaska
Full coverage in Alaska has benefits such as higher limits and more protection against accidents on the road. When shopping around, compare different companies for cheap rates–this will help you find a policy that suits your needs while saving money! While shopping around for full coverage in Alaska, choose from various companies because this will help you find the cheapest deals. The cheapest insurers in Alaska for full coverage auto insurance are:
- USAA: $619 per year
- GEICO: $882 per year
AVERAGE COMPREHENSIVE AND COLLISION RATES IN ALASKA
| Company | Annually | Monthly |
|---|---|---|
| USAA | $619 | $52 |
| GEICO | $882 | $74 |
| State Farm | $954 | $80 |
| Progressive | $1,028 | $86 |
| Allstate | $1,074 | $90 |
The values above are the averages for an average auto policy with a $100,000 liability coverage per person for bodily injury and $300,000 of bodily injury coverage per accident. The values also include $100,000 of property damage liability coverage per accident. Car insurance prices vary widely from one company to another due to different scores and rates. Your needs may conflict with these companies, so comparing quotes will help you find the best deal for your situation.
The Best Car Insurance Companies in Alaska for 2021
The top car insurance companies in Alaska are:
- Best Overall: USAA
- Runner-up: GEICO
To evaluate the financial stability and customer satisfaction rates of car insurance companies in Alaska, AutoinsuranceIt cross-referenced industry standards for ratings from sources like J.D. Power and AM Best with information about their consumer base garnered from official company filings, reviews on other insurance sites, consultation articles, rankings by Forbes ranking organizations such as MoneyGeek’s World’s Highest Ranked Car Insurance Companies list and U.S.-based article citations. Scores are then calculated out of 100. AutoInsuranceit ranked Alaska’s best car insurance provider based on good ratings for affordability, claims experience, customer satisfaction, and financial strength.
List of the Largest Insurance Companies in Alaska
The largest auto insurer in Alaska is State Farm, which holds 29% of the market share. USAA and GEICO follow closely at 18.2% and 18.1%, respectively. Insurers with a higher share score tend to be more financially sound. These companies perform better when it comes to reimbursing legitimate customer claims, but are not necessarily the best for every driver based on other factors.
How to Compare Cheap Alaska Car Insurance Quotes Online
Alaskan drivers can request car insurance quotes online, as most companies offer this service on their websites.
- Compare quotes for the same coverage limits across several providers to secure fair rates. For example, ask for a quote with $300,000 in bodily liability insurance per accident from multiple insurers and compare the costs.
- The best way to compare auto insurance providers in Alaska is by entering your ZIP code below. You can also use what MoneyGeek says about each provider as a guideline for whether they’re the best company for you. If you start with one of the top 10 insurers, for example, you might be able to save up to $455 on premiums.
- Alaska’s three cheapest car insurance companies are USAA, GEICO, and Allstate.
What Is the Average Cost of Car Insurance in Alaska?
AutoInsuranceIt calculated the average price of car insurance premiums in Alaska per year for a representative driver. A normal 40-year-old male with zero violations and driving a Toyota Camry can expect to pay between $1,560 and $2,050 annually for car insurance estimations from AutoInsuranceit.
- Average Driver: $984
- DUI: $1,478
- Speeding Ticket: $1,144
- Poor Credit Score: $1,404
- Seniors: $1,048
- Students: $2,728
Cheapest Car Insurance for Drivers With a DUI in Alaska
Drivers who have a DUI in their history may be labeled as high-risk and end up paying significantly more for car insurance than drivers with a clean driving record. The average annual cost of car insurance in Alaska is $1,478 for people who have been convicted of driving under the influence. The figure is low on average at $984 for others with similar coverage. The most affordable coverage for drivers with a DUI interested in full coverage is:
- State Farm: $1,042 per year
- USAA: $1,050 per year
USAA and GEICO offer the cheapest rates for drivers with clean records, but State Farm leads regarding DUI-related car insurance. From 2009 to 2018, 215 people were killed in crashes involving a drunk driver in Alaska. Additionally, 2.6% of adults in Alaska report driving after drinking too much. Receiving a DUI puts many different responsibilities on you, one of which is inevitably increasing your car insurance rates. In order to get the best price for car insurance, it’s prudent to compare prices from different providers before making any purchase decisions.
Having a DUI on your driving record can significantly impact your life for years to come. You could pay an additional $40,000 over the course of 13 years in increased auto insurance premiums for a DUI. Your rate increase depends on your insurance company, location, and other factors. You could pay higher rates for up to 10 years after a DUI.
Cheapest Car Insurance for Drivers With Tickets in Alaska
Alaska car insurers charge more for drivers with a clean driving record than those with one minor violation. On average, you will pay about $984 per year with a perfect driving history and the rate increases to an average of $1,144 if you have any speeding tickets on your record. Car insurance companies that offer the lowest full coverage rates in Alaska for drivers with speeding tickets are:
- USAA: $723 per year
- GEICO: $882 per year
USAA and GEICO are Alaska’s cheapest auto insurance carriers for drivers with a clean record and those with speeding tickets. In Alaska, distracted driving was a cause of 69 traffic accidents in 2018 according to the National Highway Traffic Safety Administration’s (NHTSA)Fatal Analysis Reporting System(FARS). Exceeding state laws and driving cautiously can help you stay safe and lower your car insurance costs.
Your car insurance rate will likely increase if you receive a speeding or distracted driving ticket. Your insurer will consider your driving history when deciding how much to charge you for car insurance, so any tickets on your record will affect the cost of your premiums. The amount of risk you pose to insurers also changes over time. For example, an 18-year-old at low risk one month could be a high risk six months later if they get more points on their license.
Cheapest Car Insurance Companies in Alaska for Drivers With Bad Credit
When looking for the best car insurance in Alaska, companies weigh a customer’s credit score to determine an auto insurance premium. Drivers with poor credit attract higher rates because they are more likely to file claims than customers with higher scores. On average, drivers with poor credit scores pay $1,404 per year for insurance. Insurance companies with the best rates offering full coverage for drivers with bad credit are
- GEICO: $966 per year
- USAA: $1,122 per year
USAA is the leading option for drivers with a clean driving record in Alaska, but GEICO is better if you have bad credit. One factor that influences the cost of your car insurance is your credit score. If you have a low credit score, or below 670 in Alaska (or 703 nationally), you will likely need to look for cheaper coverage options specifically designed for those with lower scores. Purchasing a car insurance policy with a high credit score can help reduce costs, so it’s worth improving your credit rating.
Cheapest Car Insurance in Alaska for Seniors
Alaskan seniors are paying higher rates for car insurance than other drivers in the state. The average rate a senior driver pays is $1,048 per year, slightly more than the annual cost of $984 for other Alaskans. The best car insurance in Alaska for seniors can be found from the following companies:
- USAA: $671 per year
- GEICO: $873 per year
Behind USAA and GEICO, State Farm ranks third for seniors with an average annual premium of $941. In 2017, the National Highway Traffic Safety Administration reported that 13 people aged 65 and above were killed in automobile accidents in Alaska. Those aged 65 and over made up 16.5% of all fatalities the jurisdiction’s traffic authorities recorded that year.
Senior drivers may be able to get discounts for finishing driver safety courses, as well as those who choose vehicles with good safety features when purchasing a vehicle or drive infrequently enough to warrant discounts from other providers like auto insurance agencies. To maintain driving privileges for Alaska senior citizens, the DMV can re-examine a driver’s ability to drive safely following input from officials and medical professionals.
Cheapest Car Insurance for Students in Alaska
A student driver is considered high-risk and will likely pay more for car insurance than an average adult. The full coverage insurance cost for students is about $2,728 per year, almost three times the amount paid by 40-year-old drivers in the state. The cheapest car insurance companies in Alaska for students with full coverage are:
- GEICO: $2,265 per year
- State Farm: $2,822 per year
Geico is an excellent option for student drivers, with State Farm and Progressive also presenting competitive rates. Approximately 3,255 teen drivers in Alaska ages 15 to 19 were involved in fatal crashes last year. Teen drivers are much more likely to be involved in an accident than other types of drivers, so it is mandatory for them to go through a parent-supervised driver program when getting their license which has different stages with protective measures and decreased risks. Car insurance premiums cost more for teens because the cars they drive have all the same minimum coverage requirements as everyone else’s cars and must be purchased separately.
College students coming to Alaska from out of state must comply with that state’s insurance requirements. Students who turn 21 years old within the following 90 days have a window in which they can apply for an adult license. If you’re borrowing someone’s car in another state for more than 30 days, notify their insurance company. And don’t let your college friends borrow it- they may get dropped from the policy if there’s an accident.
Insurance Rate Information for Military Drivers and Veterans
Alaska, home to 17,000 active duty military personnel and veterans, has regions that require state-mandated auto insurance. For auto insurance in Alaska, car owners will find that one of the major benefits is usually price savings. Residents are most likely to enjoy discounts when required to carry it as part of living in a city. They can save even more by comparison shopping for coverage opportunities. Military members who live out-of-state but have registered their vehicles with an address in Alaska may still renew their tags and vehicle registration online or by mail while stationed elsewhere as long as they list their residency with the DMV at home.
The updated text has improved clarity because it describes how military members can renew their car tags and vehicle registration when stationed outside of Alaska. Services offered exclusively to military members, veterans, and their families can provide more substantial savings. USAA offers discounts for buying two or more policies including auto and homeowners. For example, purchasing both types of insurance from USAA could save you $455 annually.
Car Insurance in Alaska: What You Need to Know
There are many different types of car insurance based on your needs. Insurance is required in areas that require registration, but for cars kept off the road, it’s optional until you register your vehicle with the DMV.
Proof of Insurance in Alaska
In Alaska, it is mandatory to carry proof of insurance when driving, and if an accident results in damages of over $500, the driver must show proof. With a copy of your policy on hand at all times, you can readily provide this information and avoid any penalties. If you have had accidents with property damage exceeding $500 without proving that you were insured, your license will be suspended by the Department of Motor Vehicles (DMV).
Minimum Liability Insurance Requirements in Alaska
Alaska mandates minimum amounts of liability car insurance, as follows:
- $50,000 per person for bodily injury liability
- $100,000 per accident for bodily injury liability
- $25,000 per accident for property damage
Drivers in Alaska who have accumulated six points or more on their license within five years must have minimum liability insurance. However, an auto insurance policy is unnecessary if you live in one of the following areas.
High-Risk Auto Insurance Program in Alaska
The Alaska Automobile Insurance Plan (assigned risk pool) can help if you cannot get coverage from a standard insurance provider. This plan allows multiple companies licensed in Alaska to share your risk and provide coverage. Call AIPSO at (800) 227-4659 for more info.
How Much Coverage Do You Need in Alaska?
The cheapest company isn’t always the best option when looking for car insurance. Depending on your needs and budget, you may need more coverage than state law requires. Collision protection covers damages to your car, while comprehensive coverage protects the car in case of theft, fire, blizzard, and natural disasters. The availability of low-price car insurance in Alaska is varied and numerous. Regarding safety nets, the state only requires a $100,000 per injury policy that pays $300,000 for an accident.
Conclusion
If you’re looking for auto insurance in Alaska, Autoinsurenceit is a great place to start. We ranked the top car insurers available across the state based on what they offer and their prices. The best part? You can compare rates from many different companies with just one click! Start comparing today and find out how much money you could save by switching your coverage level or company. Have questions about which type of coverage level will work best for you? Let us know – we are always more than happy to help!
