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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Last Updated: 5/16/2022
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In Anchorage, GEICO offers the most affordable car full-coverage car insurance, on average. The company also provides the cheapest state minimum liability coverage. On average, drivers with a speeding ticket on their record pay the lowest rates with GEICO, as well.

Military members and their families qualify for USAA's policies, which rank among the cheapest in the city. GEICO is the cheapest overall, as well as the best overall in affordability and quality of service.

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The Cheapest and Best Car Insurance in Anchorage

The Cheapest Car Insurance Companies in Anchorage

Full-coverage car insurance costs more than liability insurance but provides more protection after an accident. On average, the top two insurance companies to consider for full coverage in Anchorage are:

  • GEICO: $882 per year
  • State Farm: $954 per year

Military members and their families may also get the cheapest rates from USAA as it is the cheapest in the city, with an average annual cost of $619.

The most expensive insurer in Anchorage is Allstate. On average, its policies cost $192 more than GEICO for full coverage each year. Your specific rates will vary, based on your characteristics and driving history — use the following table to explore how rates change with different factors.

Cheapest Car Insurance in Anchorage
Full Coverage 100/300/100

Drivers pay higher premiums for full coverage. These policies include the following types of additional coverage:

  • Collision Insurance: This coverage protects you for the cost of damage if you collide with a static object or other vehicles.
  • Comprehensive Insurance: This insurance covers costs related to non-collision damages to your car.

MoneyGeek obtained average car insurance rates in Anchorage using a 40-year-old male driver seeking full-coverage car insurance. You can check out our methodology page for specific policy limits.

For drivers with older vehicles, the most convenient car insurance policy may be minimum coverage. Since full-coverage policies feature higher premiums, the cost of coverage may sometimes be higher than the worth of an old car.

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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Insurance Rates

Cheapest Car Insurance in Anchorage for Minimum Coverage

If you're looking to purchase the most affordable car insurance in Anchorage, you may consider a state minimum policy. The lowest rates in the city for state minimum coverage, on average, are from:

  • GEICO: $453 per year
  • Allstate: $502 per year

If you are an active or retired military person, you can consider purchasing cheaper car insurance coverage from USAA at an average of $328 per year.

The highest average car insurance provider in Anchorage for the state minimum policy is Progressive. The company charges $261 higher than the cost of the cheapest insurer, on average.

Despite being the cheapest coverage, liability-only insurance policies provide considerably lower limits than full coverage and may leave you underinsured after an accident. Compare rates across different coverage limits using the table below.

Cheapest Minimum Liability Car Insurance in Anchorage
State Minimum

A state minimum car insurance policy provides liability-only car insurance coverage and does not include comprehensive and collision insurance. In Anchorage, minimum coverage requires state-required 50/100/25 limits.

The minimum liability only car insurance policy costs less than full-coverage car insurance. However, you may need to cover the extra costs incurred in an at-fault accident. For instance, if you hit another driver and their medical costs sum up to $70,000, you will pay the extra $20,000 out of pocket.

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.

Cheapest Car Insurance in Anchorage if You Have Driving Violations

Drivers in Anchorage pay different premium rates for car insurance, based on their driving record. If you have a violation such as a speeding ticket or an at-fault accident, your rates may increase significantly.

Based on MoneyGeek's rating, the cheapest insurers in Anchorage for drivers with a speeding ticket, at-fault accident or DUI are:

  • Cheapest After a Ticket: GEICO, $882 per year
  • Cheapest After an At-Fault Accident: State Farm, $1,129 per year
  • Cheapest After a DUI: State Farm, $1,042 per year

USAA offers the lowest rates for drivers with traffic violations, but its policies are only available to military members, veterans, and their families. You can lower your car insurance rates by continuously improving your driving record. You may also secure the best rates in the city if you shop around.

Cheapest Car Insurance in Anchorage With a Violation
Speeding Ticket

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.

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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Insurance Rates

The Best Car Insurance Companies in Anchorage

MoneyGeek considered various factors when analyzing average car insurance rates in Anchorage, including affordability, user satisfaction and financial stability. According to our research, the best insurance carriers in the city are:

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

The top insurers in the city balance strong user satisfaction and affordability scores.

USAA received a 100 out of 100, but we did not include it in our list of the best companies in the city. Its policies are only available to former and current military members and their families.


1
USAA
Score:100

5/5

Affordability

5/5

Claims Ratings

5/5

User Satisfaction

A++

Financial Stability

2
GEICO
Score:92.5

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:87.5

3/5

Affordability

5/5

Claims Ratings

3/5

User Satisfaction

A+

Financial Stability

5
State Farm
Score:87.5

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:77.5

2/5

Affordability

3/5

Claims Ratings

3/5

User Satisfaction

A

Financial Stability

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.

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.