bestauto insuranceAnchorageCompare the Cheapest Car Insurance Quotes in Anchorage, AK
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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.
bestauto insuranceAnchorageThe 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
- Company100/300/100per year
- 1.$619
- 2.$882
- 3.$954
- 4.$1,028
- 5.$1,074
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.
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
- CompanyState Minimumper year
- 1.$328
- 2.$453
- 3.$502
- 4.$546
- 5.$714
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
- ItemDescription
- 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
- CompanySpeeding Ticketper year
- 1.$723
- 2.$882
- 3.$1,042
- 4.$1,274
- 5.$1,376
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.
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 Anchorage 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
GEICO
Score:70
2
State Farm
Score:70
3
Allstate
Score:53
4
Progressive
Score:27
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 CodeState 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.
About Mark Fitzpatrick
