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Average Cost of Car Insurance in Anchorage

Anchorage$984
Alaska$984
U.S.$1,424

The average car insurance rate in Anchorage is $984 per year. This rate is equal to the state annual average but much lower than the national average rate of $1,424. When comparing the national annual premium to the Anchorage and Alaska rates, there’s a notable 30.9% difference. Clearly, you're more likely to get a good deal for your auto coverage if you live in Anchorage compared to many American cities.

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The Best Cheap Car Insurance Companies in Anchorage

If you’re looking for cheap car insurance in Anchorage, USAA’s average annual premium is the lowest, but their products are only available to military members and their families. With this in mind, the best widely available cheap auto insurance in this city is from GEICO, which has an average annual premium of $882.

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Personalized Quotes to Get You the Cheapest Car Insurance in Anchorage

Insurance rates aren’t the same for everyone, even if you purchase the same packages from a single provider. There are other factors that affect insurance rates, such as your driving history and experience, car make and model, credit score, location and miles driven per year. Even your gender, profession and age affect your car insurance rate.

Therefore, to find the best and most accurate car insurance rates in Anchorage, it is recommended that you shop around and compare personalized quotes.

Compare Car Insurance Rates in Anchorage

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

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Cheapest Car Insurance in Anchorage by Coverage Amount

How much car insurance coverage you purchase in Anchorage also affects how much your policy will cost. Coverage includes required liability coverage and optional items like collision, comprehensive, and deductibles.

Visit these guides to learn more:

Alaska Minimum Liability Requirements

  • Item
    Description
  • Bodily Injury and Property Damage
    $50,000 per person, $100,000 per accident and $25,000 for property damage. A more protective level is 100/300/100.

There are ways to upgrade your minimum liability insurance, especially if you want added benefits like comprehensive coverage, collision coverage and uninsured motorists coverage. GEICO offers the cheapest policies for a variety of different coverage levels. They charge an average $458 per year for 50/100/50 liability-only policies, $805 for 50/100/50 full-coverage plans and $882 for 100/300/100 full-coverage packages.

Liability-only means that the policy only covers the damage you cause to other people, while full coverage extends the coverage to your vehicle as well. The added coverage you get for the average $347 it costs to upgrade from 50/100/50 liability-only to full coverage is significant. If you can afford to do so, upgrading your car insurance in Anchorage is worth exploring.

Average Car Insurance Premiums by Coverage Type

Liability Only
Full Coverage
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Cheapest Car Insurance in Anchorage if You Have Tickets

One factor that influences the personalized car insurance quote you receive is your driving history. An individual with a clean record in Anchorage will spend far less than someone with violations.

For example, GEICO’s $882 no-violation average rate can increase to $2,112 if you have a DUI. This goes to show that for drivers, maintaining a clean record is key to saving money on auto insurance.

  • Company
    Speeding Ticketper year
    At-Fault Accidentper year
    DUIper year
  • 1. USAA
    $723
    $868
    $1,050
  • $1,042
    $1,129
    $1,042
  • $882
    $1,277
    $2,112
  • $1,274
    $1,503
    $1,495
  • $1,376
    $1,839
    $1,262

Average Cost of Car Insurance by Postal Code

Your ZIP code also affects your personalized car insurance quote. The higher the rate of risk factors in your area, the higher your quote will be. Some risk factors include the frequency of car thefts in the area, the rate of accidents and the rate of fatalities, among others.

In Anchorage, ZIP code 99508 has the cheapest average annual premium at $979, compared to $995 in ZIP code 99504. Although there’s not much difference between the rates in each ZIP code in Anchorage, it is still important to take note of this factor.

  • Zip Code
    State Minimumper year
  • 99508
    $979
  • 99507
    $980
  • 99504
    $995

Factors That Impact Insurance Costs in Anchorage

In addition to individual driver needs and history, location-specific factors like the percentage of uninsured motorists and the rate of fatal accidents also contribute to car insurance rates in Anchorage. How Anchorage ranks compared to the 300 most populous cities in the United States can have a significant impact on premium costs.

accident2 icon
Most Accidents With Fatalities131st/300
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Most Car Thefts304th/300
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Most Uninsured Motorists by State11th/50
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Personal Injury Protection RequiredNo
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Most Annual Rainfall216th/300
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Most Rainy Days96th/300

Shopping around for car insurance in Anchorage could save you $102, which is enough to buy:


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34Cups of Coffee
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8Months of Your Favorite Streaming Service

Methodology and Assumptions

MoneyGeek’s average premium rates for Anchorage are based on 100/300/100 comprehensive collision coverage with a $1,000 deductible for a 40-year-old male driver. The average driver profiled drives a 2010 Toyota Camry LE and has no tickets or accidents on their record. Additional premiums are added based on coverage type, location and driving record. Learn more about MoneyGeek’s data and methodology here.

Compare Car Insurance Rates in Anchorage

Ensure you're getting the best rate for your car insurance. Compare quotes from the top insurance companies.

Insurance Rates

About the Author


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The MoneyGeek editorial team has decades of combined experience in writing and publishing information about how people should manage money and credit. Our editors have worked with numerous publications including The Washington Post, The Daily Business Review, HealthDay, and Time, Inc., and have won numerous journalism awards. Our talented team of contributing writers include mortgage experts, veteran financial reporters, and award-winning journalists. Learn more about the MoneyGeek team.