BestCar InsuranceAnchorageThe Best Car Insurance in Anchorage, AK, for 2023
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Ensure you're getting the best rate. Review quotes from a top insurance company.
We broke down the best car insurance options for young and older drivers, those with driving violations and those with a military background. MoneyGeek also provided resources to help drivers on a budget find the cheapest car insurance in Anchorage.
BestCar InsuranceAnchorageThe Best Car Insurance in Anchorage
Overall - GEICO
Minimum Coverage - GEICO
Young Drivers - Allstate
Senior Drivers - GEICO
Driving Violations - State Farm
Military - USAA
Best Car Insurance Companies in Anchorage: Overall
Top-rated car insurance providers value affordability and quality service. That’s why MoneyGeek ranked the best car insurance companies in Anchorage based on average rates, claims ratings and customer satisfaction.
Based on MoneyGeek’s analysis, the best auto insurance in Anchorage are:
- GEICO: 70 out of 100
- State Farm: 70 out of 100
USAA received an impressive MoneyGeek score of 100 out of 100, but MoneyGeek did not include its features because it exclusively caters to current or former members of the military and their families.
The Top Car Insurance Companies in Anchorage
1
GEICOOverall
Score:70
Although GEICO isn’t the cheapest provider, it compensates for the added cost with its quality customer service and exceptional ability to fulfill claims — the provider received the highest score among other insurers for financial stability and claims rating.
Unique insurance offerings from GEICO include accident forgiveness and mechanical breakdown insurance, which are not offered by most car insurance companies. A 40-year-old male driver in Anchorage should expect to pay $882 per year for a full coverage car insurance policy with GEICO.
More About GEICO
With accident forgiveness, your rates won’t increase if you have an at-fault accident. If you're over 21 and have been accident-free for at least five years, you are eligible for this add-on.
Meanwhile, the mechanical breakdown insurance covers all parts and systems in the event your car requires a repair, unlike typical dealer warranties. This is available for new and leased vehicles that are less than 15 months old and have fewer than 15,000 miles.
Read MoneyGeek's GEICO auto Insurance Review2
State Farm
Score:70
MoneyGeek hails State Farm as the second top-rated car insurance in Anchorage for its affordability and customer satisfaction, but most notably for its financial stability and high claims rating.
State Farm offers a unique coverage option through rideshare insurance, which maintains that the emergency roadside assistance and rental car reimbursement in your personal auto policy remain in effect when you’re working for a ridesharing company.
At State Farm, the average yearly cost of a full coverage policy for a 40-year-old male driver is $954.
More About State Farm
Even if you’re driving for a rideshare service, your personal policy deductible will remain in effect. State Farm’s rideshare insurance extends all coverages from your auto policy when the app is on and you're available for hire. After you match with or are transporting a rider, all coverages except liability insurance remain in effect.
In addition to its rideshare insurance, State Farm offers rental car and travel insurance that covers car rental expenses up to a set limit, as well as other travel expenses, such as meals and transportation. This coverage includes up to $500 and up to $500 repayment of deductible if you are held liable for an accident in your rental car.
Read MoneyGeek's State Farm auto Insurance ReviewRESOURCES ON CAR INSURANCE IN ANCHORAGE, ALASKA
If you’re looking to save on car insurance, MoneyGeek found the cheapest car insurance providers in Anchorage. To learn more about car insurance in Alaska in general, we provided the following resources:
Best Cheap Car Insurance for Minimum Coverage in Anchorage
MoneyGeek ranked the best car insurance companies in Anchorage based on those looking for minimum car insurance coverage in Anchorage, which is a standard set by Alaska car insurance laws. We recommend that you familiarize yourself with the minimum car insurance requirements in Alaska so you know what to expect in a policy.
Based on our ranking, these are the two best companies for minimum coverage policies:
- GEICO: 79 out of 100
- Allstate: 70 out of 100
The above scores incorporate different driver backgrounds, such as the drivers’ age and past violations.
MoneyGeek’s Pick: GEICO
pros
Low annual cost of $453 for a minimum coverage policy
Discounts for bundling and owning multiple cars
Unique discount for using a seat belt
MoneyGeek score of 5 for claims rating
MoneyGeek score of 4 for customer satisfaction
cons
Pay-in-full and paperless discounts not available
COMPANY HIGHLIGHTS
GEICO is an attractive option for those looking to save money on auto insurance. One of the ways GEICO encourages customers to bundle their payments is by offering lower rates for multiple cars and safe driving. By bundling payments, customers can save money on their overall insurance costs.
In addition, GEICO also offers discounts if your car is equipped with daytime running lights. As an added bonus, customers who have been accident-free for five years also receive a discount from GEICO. The insurer is also an outstanding provider of anti-lock, airbag and anti-theft system discounts.
Best Car Insurance for Young Drivers in Anchorage
To determine the best auto insurance companies for young drivers in Anchorage, MoneyGeek looked at ratings across different coverages and driving histories.
We found that the top auto insurance companies for young drivers in Anchorage, based on different coverages and driving histories of 18-year-old drivers in the city, are:
- Allstate: 82 out of 100
- GEICO: 82 out of 100
Providers typically charge more for car insurance for young drivers and car insurance for students because their lack of driving experience classifies them as high risk.
MoneyGeek’s Pick: Allstate
pros
An affordable, full coverage policy only costs $2,610 per year
Discounts for good students, graduates of a driver’s education course and distant students
Offers pay-in-full, automatic and paperless payment options
MoneyGeek score of 5 for claims rating
MoneyGeek score of 4 for customer satisfaction
cons
Volunteer discount not offered
COMPANY HIGHLIGHTS
Many insurance companies consider young drivers to be high-risk due to their inexperience, and this can make finding affordable coverage difficult. However, Allstate offers great rates for young drivers while also providing excellent service.
With a MoneyGeek affordability score of 3.95, Allstate is the best provider of car insurance for teens in Anchorage because of its good student and driver’s education program discounts. It also has anti-theft and anti-lock brakes offerings, which are useful to new drivers just learning the rules of the road.
Best Car Insurance for Senior Drivers in Anchorage
MoneyGeek scored car insurance providers for senior drivers in Anchorage. Based on our ranking, the following two companies offer the best coverage for senior drivers:
- GEICO: 80 out of 100
- State Farm: 79 out of 100
These scores were calculated using policy coverages and driving histories of 70-year-old drivers. The cost of car insurance for senior drivers is slightly higher than middle-aged drivers because older drivers are typically more accident prone.
MoneyGeek’s Pick: GEICO
pros
An annual full coverage policy for senior drivers with a clean driving record averages $873
Discount for defensive driving
MoneyGeek score of 5 for claims rating
MoneyGeek score of 4 for customer satisfaction
cons
No discount for seniors
COMPANY HIGHLIGHTS
Some insurers charge more for senior drivers than for other drivers, although elderly drivers can still save money on insurance with GEICO’s discounts. For instance, those who completed a defensive driving course pay less than the average auto insurance premium.
Additionally, senior drivers can purchase roadside assistance, which covers expenses they incurred due to road mishaps. Meanwhile, GEICO’s accident forgiveness ensures that their rates won't go up after their first at-fault accident. And, if the car is disabled for more than 24 hours because of a covered accident, GEICO will pay for a rental vehicle.
Lastly, GEICO’s unique mechanical breakdown insurance provides better coverage for a cheaper price than most dealer extended warranties.
Best Car Insurance With a Driving Violation in Anchorage
MoneyGeek compiled a list of the best companies based on the profiles of drivers who were at fault for an accident. The top car insurance companies in Anchorage for these types of drivers are:
- State Farm: 81 out of 100
- GEICO: 79 out of 100
Due to the increased risk of accidents, drivers with a poor driving record pay higher premiums.
MoneyGeek’s Pick: State Farm
pros
An affordable full coverage policy for a middle-aged accident-prone driver costs $1,129 annually
Offers seven out of nine standard discounts
MoneyGeek score of 4.50 for claims rating
MoneyGeek score of 4 for customer satisfaction
cons
Pay-in-full and paperless discounts not available
Doesn’t offer accident forgiveness or any unique coverages
COMPANY HIGHLIGHTS
For drivers with a violation or accident on their record, it’s easy to think that they have no chance of finding an insurer. But State Farm makes a great case for proving that there are companies willing to offer reasonable prices and adequate coverage for these drivers.
State Farm also offers several common discounts, including anti-theft system, airbag and bundling discounts. Not only do these discounts help you save money, but they also protect your life and property.
Best Car Insurance With a Military Background in Anchorage
With a perfect score of 100 out of 100, MoneyGeek ranked USAA as the best car insurance provider in Anchorage for former and active military members, based on rates and customer satisfaction. This score is a blend of coverage levels and driver histories, including those of young, senior and ticketed drivers.
MoneyGeek’s Pick: USAA
pros
An affordable full coverage policy costs $619 annually for a 40-year-old driver
Offers five of the most common discounts, including safe driving, defensive driving and multiple car
MoneyGeek score of 5 for claims rating
MoneyGeek score of 5 for customer satisfaction
cons
Only offers three of the seven commonly-featured coverages — roadside assistance, rental car and/or travel reimbursement and accident forgiveness
Only available to military members, veterans and their families
COMPANY HIGHLIGHTS
USAA boasts a history of industry-leading service and affordability, consistently ranking well among the best insurance providers in many U.S. states. Although it doesn’t offer any unique coverages, USAA provides coverage for roadside assistance, accident forgiveness, rental car and/or travel reimbursement, which are perfect for veterans and military personnel.
USAA also has five of the nine most-advertised discounts, including bundling, multiple car, good student, safe driving and defensive driving. Also, if you are under 25 and were previously insured on your parent's USAA policy, you can get a legacy discount when you open your own policy.
Methodology
To rank Anchorage, Alaska’s best auto insurance companies, MoneyGeek relied on rating matrices from J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC). This ranking aims to identify car insurance providers that provide quality service at an affordable rate.
MoneyGeek applied these weighted scores to each assessment category:
- Affordability (70%): MoneyGeek looked for the average prices of different insurance companies in Anchorage and ranked them from the cheapest to the most expensive. The company with the cheapest policy was given a score of five.
- Customer and claims satisfaction (20%): J.D. Power scores were used to determine the insurance company’s customer service and claims processing record. MoneyGeek gives customer satisfaction and claims satisfaction 10% each in this category.
- Financial stability (10%): MoneyGeek used AM Best ratings to assess an insurer's ability to fulfill claims made by its customers
We assigned each category a score of one to five, with five points being the most desirable. We then scaled the overall score to 100 points. We calculated the overall affordability score using several factors, including age and driving record, as well as coverage levels.
The rates shown reflect the average premiums of a full coverage policy with the following limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability.
- Comprehensive and collision coverage with a $1,000 deductible
MoneyGeek's car insurance methodology is an easily explained rating technique that helps consumers find the perfect coverage from the perfect company. You may read more about it by visiting our page.
About Mark Fitzpatrick
