Compare the Cheapest Car Insurance Quotes in Anchorage, AK

Car insurance in Anchorage costs an average of $984 annually, the same as the state average. The cheapest widely available insurer is GEICO, at an average of $882 annually. MoneyGeek analyzed the cheapest options based on several driver profiles and coverage levels. MoneyGeek ranked the best insurance companies in Anchorage to help drivers looking to balance cost and quality service.

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The Cheapest and Best Car Insurance in Anchorage

The Cheapest Car Insurance Companies in Anchorage

The companies in Anchorage with the cheapest average rates for a full coverage auto insurance policy are:

  • USAA: $619 annually (only for current and former military)
  • GEICO: $882 annually

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.

MoneyGeek collected average insurance rates in Anchorage based on a sample driver profile with a full coverage policy, including liability insurance and comprehensive and collision coverage.

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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 Car Insurance Companies in Anchorage

For drivers looking for a provider that balances affordability and quality service, MoneyGeek ranked the best providers in Anchorage. According to MoneyGeek’s scoring system, the best companies in the city for most drivers are:

  • GEICO: MoneyGeek score of 93 out of 100
  • Country Financial: MoneyGeek score of 90 out of 100

USAA received the highest score in Anchorage by MoneyGeek's rating system. However, because USAA is only available to military members, veterans and their families, it is not listed as best overall.

To calculate these final scores out of 100, MoneyGeek used various factors, including J.D. Power customer satisfaction, affordability and financial stability metrics.


1
USAA
Score:100

5/5

Affordability

5/5

Claims Ratings

5/5

User Satisfaction

A++

Financial Stability

2
GEICO
Score:93

4/5

Affordability

5/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

3
Country Financial
Score:90

3/5

Affordability

5/5

Claims Ratings

4/5

User Satisfaction

A+

Financial Stability

4
Allstate
Score:88

3/5

Affordability

5/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

5
State Farm
Score:88

3/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

A++

Financial Stability

6
Progressive
Score:85

3/5

Affordability

4/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

7
Liberty Mutual
Score:78

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

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.

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

Cheapest Car Insurance in Anchorage by Coverage Amount

In Anchorage and elsewhere, a very important factor that determines the cost of a policy is your chosen coverage level. For instance, a state minimum liability policy in Anchorage costs an average of $554, while a full coverage policy with higher liability limits costs an average of $984. That is a difference of $431.

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: Liability-Only vs. Full Coverage

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

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
  • 2.
    State Farm
    $1,042
    $1,129
    $1,042
  • 3.
    GEICO
    $882
    $1,277
    $2,112
  • 4.
    Allstate
    $1,274
    $1,503
    $1,495
  • 5.
    Progressive
    $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
handcuffs2 icon
Most Car Thefts304th/300
uninsured icon
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

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.

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About the Author


expert-profile

Mark Fitzpatrick is a senior content manager with MoneyGeek specializing in insurance. Mark has years of experience analyzing the insurance market and creating original research and content. He graduated from Boston College with a Bachelor of Arts and Johns Hopkins University with a Master of Arts.