How Much Is Car Insurance in Alaska? (July 2024)

In Alaska, drivers pay around $1,112 yearly for full coverage car insurance. For those opting for minimum markings coverage, the cost hovers at about $471 annually.

Factors like how old you are, the kind of coverage you choose, where you live, your history on the road, and your credit score all play a role in determining the price. Affordable plans can be found, but cheaper isn't always better.

Alaska's average full coverage car insurance cost is about $1,112 annually. Knowing your state's average car insurance cost can help you evaluate if your quote is affordable or pricey. Start comparing car insurance quotes to find your ideal plan.

Below is a summary of what you might pay for auto insurance in Alaska. These numbers reflect what you could spend monthly and yearly for minimum or full coverage.

Car insurance in Alaska is relatively moderate compared to other states. When comparing the average annual premium for state minimum coverage in Alaska, which is $471 to the national average cost of car insurance, which is $595 for the same level of coverage, Alaska is more affordably priced.

The rates in Alaska might be deemed relatively affordable due to factors such as less road traffic, a lower number of claims or reduced risk of accidents and thefts compared with more densely populated regions.

Car insurance premiums can vary significantly per company. For instance, Allstate offers the cheapest full coverage in Alaska at an annual cost of $994, while Progressive presents the priciest average premium, at $1,352.

Shopping around is important when hunting for the cheapest car insurance in Alaska. Compare quotes to ensure you secure an affordable and suitable policy.

The cost of car insurance in Alaska is also influenced by the choice of coverage levels. While minimum coverage costs about $39 monthly, full coverage with a $1,000 deductible is around $93 monthly. It is recommended to opt for full coverage insurance due to its more comprehensive protection against various incidents. For more information, view full coverage insurance.

Although comprehensive and collision coverage can increase your premium, selecting higher deductibles may offset this rise in costs. Keep in mind that the deductible applies separately to each comprehensive and collision claim.

Alaska's minimum car insurance requirements include $50,000 for bodily injury per person, $100,000 for bodily injury per accident and $25,000 for property damage per accident. Uninsured/underinsured motorist coverage is not mandated.

Your location can heavily influence your car insurance premiums. In Anchorage, full coverage is $1,011, while minimum coverage costs $524.

Car insurance rates in Alaska can be affected by several factors, including local crime rates, climate conditions and road safety. Other variables like traffic volume and car repair costs also play a role in determining premiums.

In Alaska, age impacts car insurance costs, with younger drivers often paying more. Typically, those aged 22 to 29 face the highest premiums at an annual rate of $1,348. This trend descends as motorists get older, with drivers aged 60 and above paying the least, around $1,105 per year. Car insurance rates tend to decrease as drivers gain experience and a proven safe driving record.

Age and gender influence car insurance rates in Alaska, with 16-year-old male drivers facing higher premiums than other age groups. On average, adding a 16-year-old boy to a family policy costs $3,027 annually, which is the most expensive age for car insurance premiums.

It's often not possible for teens under 18 to purchase car insurance independently — they'll need a co-signer. Opting for an individual policy, a 16-year-old male driver would pay about $4,998 in premiums.

The average annual cost for full coverage on a 2012 car model is $879, while for a 2022 model, it's notably higher at $1,135. This uptick in cost can be attributed to the greater actual cash value and repair expenses for newer vehicles, as well as their increased susceptibility to theft, leading to a steeper insurance premium.

Drivers with newer car models, like 2022 vehicles, should consider securing comprehensive and collision coverage. This not only protects against a wide range of incidents but can also facilitate prompt repairs without significant out-of-pocket expenses.

The cost of car insurance in Alaska varies based on your driving history.

• With a ticket: $1,298 per year; $108 per month
• With an at-fault accident: $1,460 per year; $122 per month
• With a DUI: $1,472 per year; $123 per month

The more serious the violation, the more you'll have to pay for car insurance. This higher cost sticks with you as long as the violation is on your record, and every state has different rules about how long that is. In Alaska, for example, a DUI can stay on your driving record for up to five years. That means your insurance premiums could be higher for that entire time.

The table provides specific costs for different coverage and ages to find out what you might pay for car insurance in Alaska, given your driving record.

In Alaska, the average annual cost of car insurance varies significantly based on credit score, ranging from $665 for those with excellent credit to $1,303 for people with poor credit. This demonstrates how your credit score can influence what you pay for car insurance. A good credit score falls between 670 and 739. Drivers with lower scores tend to face higher insurance premiums.

Key factors influence the average cost of car insurance in Alaska. Knowing them helps you make an informed decision:

• Location: Urban areas in Alaska often have higher insurance rates due to increased risks of theft, vandalism and collisions compared with rural areas.

• Vehicle Type: The cost to insure higher-value vehicles or those with poor safety ratings is usually greater due to the potential for larger claims.

• Age and Driving Experience: Younger, inexperienced drivers in Alaska tend to face higher premiums due to a statistically higher likelihood of accidents and insurance claims.

• Driving Record: A clean driving record can lead to more affordable premiums, whereas accidents and violations can significantly increase rates.

• Credit Score: In Alaska, a driver's credit score may impact car insurance rates, with higher scores generally benefiting from lower costs.

• Coverage Level: Choosing higher coverage limits or adding collision insurance and comprehensive insurance can raise premiums, but provide more protection.

• Deductible Amount: Opting for a higher deductible can lower your monthly premium, but this means more out-of-pocket expense in the event of a claim.

• Annual Mileage: The less you drive, the lower your risk of incidents. Drivers in Alaska with low annual mileage may benefit from reduced rates.

• State Minimum Requirements: Meeting Alaska's state minimum coverage is essential, but opting for more than the minimum can affect the insurance rate.

Compare car insurance quotes to find a policy that matches your driving needs and fits your budget. You could miss potential savings by not exploring your options.

To secure affordable car insurance in Alaska, compare rates, opt for a higher deductible and fully utilize all available insurance discounts.

Get answers about what impacts the average cost of car insurance in Alaska and how to find affordable rates.