When looking for the best car insurance in Alaska, comparing personalized quotes can help you save money. MoneyGeek ranked the top car insurance carriers in the state based on average annual premiums, customer service and financial strength, among other factors. No matter your circumstances and needs, MoneyGeek’s rankings can help you determine what to look for in an auto insurance provider. When you compare car insurance rates from some of the most popular companies in Alaska, you could save up to $455.
The Best Cheap Alaska Car Insurance Companies for 2021
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Cheapest Car Insurance Companies and Quotes in Alaska
MoneyGeek ranked the most affordable car insurance in Alaska based on the average annual premiums for comprehensive and collision coverage. However, these numbers will vary depending on individualized factors. To find the most suitable plan and premium, drivers will have to compare quotes from various service providers.
Average Comprehensive and Collision Rates in Alaska
- CompanyAnnuallyMonthly
- 1. USAA$619$52
- 2. GEICO$882$74
- 3. State Farm$954$80
- 4. Progressive$1,028$86
- 5. Allstate$1,074$90
The prices mentioned are annual premium costs from various auto insurance companies in Alaska for the average driver. Insurance providers calculate the cost of car insurance by evaluating individualized factors, including driving history, age, the vehicle’s safety features and many more. Shopping around can help you find the best car insurance in Alaska for your needs.
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Cheapest Liability Car Insurance in Alaska
Drivers who live in areas that require them to register their vehicles need to have car insurance. Many choose liability-only coverage, which covers injuries and property damage that you cause to the other driver. If you want to have coverage for your medical expenses and vehicle, you can get comprehensive and collision coverage. Alaska’s minimum liability coverage is 50/100/25, which covers up to $50,000 for bodily injuries per person, $100,000 for bodily injuries per accident and $25,000 for property damage per accident. You can also get higher levels of coverage, like a 100/300/100 policy. GEICO offers the cheapest option for most drivers in the state for minimum liability and 50/100/50 coverages.
Average Cost for Liability Coverage
- CompanyAnnuallyMonthly
- 1. USAA$328$27
- 2. GEICO$453$38
- 3. Allstate$502$42
- 4. State Farm$546$46
- 5. Progressive$714$60
The Best Car Insurance Companies in Alaska for 2021
To determine the rating scores of car insurance companies in Alaska, MoneyGeek assessed financial strength and customer satisfaction information from reputable outlets like J.D. Power and AM Best, and considered industry standards for insurance ratings and reviews. Considering these criteria, MoneyGeek calculated scores out of 100.
MoneyGeek ranked the best car insurance providers based on good ratings in terms of affordability, claims experience, customer satisfaction and financial strength.
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Country FinancialScore: 90
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Market Share by Company
State Farm has the largest market share in Alaska at 29.01%, followed by USAA and GEICO at 18.24% and 18.08%, respectively.
- CompanyMarket Share
- 1. State Farm29.0%
- 2. USAA18.2%
- 3. GEICO18.1%
- 4. Allstate12.3%
- 5. Progressive10.3%
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What Is the Average Cost of Car Insurance in Alaska?
MoneyGeek calculated the average cost of premiums for car insurance in Alaska for a typical driver — a 40-year-old man with a clean driving record driving a Toyota Camry. The actual cost will depend on factors unique to each individual, so a driver may get rates higher or lower than these averages.
- Average Driver: $984
- DUI: $1,478
- Speeding Ticket: $1,144
- Poor Credit Score: $1,404
- Seniors: $1,048
- Students: $2,728
Cheapest Car Insurance for Drivers With a DUI in Alaska
From 2009 through 2018, 215 people were killed in crashes involving a drunk driver in Alaska, according to the Centers for Disease Control and Prevention (CDC). Additionally, 2.6% of adults in Alaska reported driving after drinking too much.
There are several financial repercussions of getting a DUI, including court fees, legal fees and even alcohol education treatment programs. You'll also likely see an increase in your car insurance costs. Comparing rates from different companies can help you find the lowest cost for car insurance with a DUI.
Average Car Insurance Rates With a DUI
- CompanyAnnuallyMonthly
- 1. State Farm$1,042$87
- 2. USAA$1,050$88
- 3. Progressive$1,262$105
- 4. Allstate$1,495$125
- 5. GEICO$2,112$176
Having a DUI on your driving record can impact your life for years to come. You could pay an additional $40,000 over the course of 13 years in increased auto insurance premiums for a DUI. Your rate increase depends on your insurance company, location, driving record and other factors. You could pay higher rates for a decade after a DUI.
Cheapest Car Insurance With Tickets in Alaska
According to the National Highway Traffic Safety Administration’s (NHTSA) 2018 Fatality Analysis Reporting System (FARS), distracted driving caused 69 crashes in Alaska. Alaska’s state laws prohibit texting while driving, according to the Governors Highway Safety Association. Following these laws can help you stay safe, maintain a clean driving record and maintain lower car insurance costs.
Average Car Insurance Rates With a Ticket
- CompanyAnnuallyMonthly
- 1. USAA$723$60
- 2. GEICO$882$74
- 3. State Farm$1,042$87
- 4. Allstate$1,274$106
- 5. Progressive$1,376$115
Your auto insurance rate is likely to go up if you get a ticket for speeding or for distracted driving. According to the Insurance Information Association, your driving record is taken into account when you secure your auto policy, so being riskier to insure means paying higher premiums. Your insurer can also re-evaluate your rate if you get a moving violation (i.e., a speeding ticket).
Cheapest Car Insurance Companies in Alaska for Drivers With Bad Credit
According to Experian, the average FICO Score in Alaska of 707 is slightly higher than the national average in the United States of 703. Many insurers use customer credit scores as one factor to determine premiums, as studies show that using a credit score helps companies better predict insurance losses. If you have a lower credit score (below 670), you’ll likely have to shop around to find the cheapest car insurance in Alaska.
Average Car Insurance Rates for Drivers With Bad Credit
- CompanyAnnuallyMonthly
- 1. GEICO$966$81
- 2. USAA$1,122$94
- 3. Allstate$1,347$112
- 4. Progressive$1,569$131
- 5. State Farm$1,704$142
While you may pay higher rates for auto insurance because of your credit score, there are steps you can take to lower your premiums. Improving your credit score may help you find better rates on your car insurance and other recurring expenses.
Cheapest Car Insurance Companies in Alaska for Seniors
According to data from the National Highway Traffic Safety Administration, in 2017, 13 people age 65 and older were killed in motor vehicle traffic crashes in Alaska. Elderly people made up 16.5% of all traffic fatalities in the state during the year. Senior drivers may be able to get discounts for finishing driver safety courses. Discounts may also be available for seniors who drive infrequently and choose vehicles with good safety features.
Average Car Insurance Rates for Seniors
- CompanyAnnuallyMonthly
- 1. USAA$671$56
- 2. GEICO$873$73
- 3. State Farm$941$78
- 4. Progressive$1,116$93
- 5. Allstate$1,264$105
Alaska state law allows the DMV to conduct a re-examination of a senior’s driving ability if the DMV receives a written request from law enforcement, family members or physicians. To maintain driving privileges, seniors may be required to submit a medical form verifying they are able to drive safely and then successfully complete a vision test, written test and road skills test.
Cheapest Car Insurance for Students in Alaska
According to the NHTSA, 3,255 teen drivers ages 15 to 19 were involved in fatal crashes in 2017. Teen drivers are at a higher risk of being involved in an accident, so Alaska requires they get their license through a parent-supervised driving program. The program has different stages and protections to reduce the risk of your young driver becoming involved in an accident. Cars driven by teens must carry the same minimum coverage as required for everyone else, but the premiums will be more expensive.
College students attending school outside Alaska are responsible for meeting the insurance requirements in their new state. In Alaska, students who turn 21 have 90 days to apply for an adult license.
Always notify the insurance company if your car will be used in another state for more than 30 days. Also, don't let your new friends borrow your car. Loaning it out to college friends can be risky since the vehicle owner (you or your parents) will be held responsible in the event of a crash.
The following table illustrates an estimation of what parents in Alaska can expect to pay for their teen or college-aged student drivers.
Average Car Insurance Rates for Students
- CompanyAnnuallyMonthly
- 1. GEICO$2,265$189
- 2. State Farm$2,822$235
- 3. Progressive$2,854$238
- 4. Allstate$2,924$244
Insurance Rate Information for Military Drivers and Veterans
Alaska has 17,000 active-duty military personnel living in the state. Enlisted military personnel and veterans living in Alaska should first check to see if their locality requires auto insurance, as some regions of the sparsely populated state do not. Discounts can be found at insurance companies where coverage is required, typically in urban areas of Alaska. As always, comparison shopping for car insurance in Alaska should yield the best savings.
As an added benefit, military members who live in Alaska but are stationed out-of-state can still renew their vehicle registration wherever they are based, online or by mail, so long as the car or truck is already registered in their name.
Many companies licensed to sell auto insurance in Alaska also offer discounts for buying two or more policies, such as auto and homeowners, so veterans and active members of the military can save even more for bundling policies. One such company is USAA, which offers services exclusively to members of the military, veterans and their family members.
Average Rates for Alaska service members
25 years$1,710
50 years$1,132
50 years$1,132
25 years$1,418
50 years$1,129
50 years$1,129
Car Insurance in Alaska: What You Need to Know
If you live in an area where you must register your car, you also must insure it. An automobile stored in a garage or on private property does not have to be insured until it is licensed and registered.
Proof of Insurance in Alaska
Alaska Statute 28.22.019 requires that you must have a copy of your policy, certificate of self-insurance or insurance identification card in your immediate possession when you are driving a motor vehicle. If you are involved in an accident that results in bodily injury, death or property damage exceeding $501, you will be required to show proof of insurance. Failure to have insurance can result in the suspension of your driver’s license.
Minimum Liability Insurance Requirements in Alaska
The minimum amounts for liability auto insurance coverage required in Alaska are as follows:
- $50,000 per person for bodily injury liability
- $100,000 per accident for bodily injury liability
- $25,000 per accident for property damage
Even in areas that don't normally require insurance, drivers who accumulate tickets totaling six points or more in a five-year period must carry liability insurance. Here's the current list of exempted regions in Alaska where insurance is not required.
High-Risk Auto Insurance Program in Alaska
If you're a high-risk driver who has trouble getting insurance from traditional companies, you may be able to get coverage through the Alaska Automobile Insurance Plan (assigned risk pool). With this plan, the risk is shared among multiple insurance companies licensed to sell coverage in Alaska. For more information, call AIPSO at (800) 227-4659.
How Much Coverage Do You Need in Alaska?
The best insurance isn't always the cheapest insurance. Depending on what you can afford, you may want more than the minimum insurance required by the state. Collision insurance, for example, covers damages to your car, while comprehensive coverage covers your car for theft, fire, blizzards, natural disasters and colliding with an animal, such as a deer or moose. The state requirements for insurance were also set many years ago, and consumer and insurance groups say that it's safer to get a 100/300 liability policy — that is, a policy that pays $100,000 per injury and $300,000 per accident.
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sources
- Alaska Department of Commerce, Community, and Economic Development Division of Insurance. "Alaska Consumer Guide to Auto Insurance." Accessed March 6, 2020.
- Centers for Disease Control. "Sobering Facts: Alcohol-Impaired Driving State Fact Sheets." Accessed December 15, 2020.
- Centers for Disease Control and Prevention. "Motor Vehicle Safety." Accessed March 6, 2020.
- Experian. "2019 Consumer Credit Review." Accessed March 6, 2020.
- Insurance Information Institute. "Auto Rate Setting." Accessed March 6, 2020.
- National Association of Insurance Commissioners. "Market Share Reports for Property/Casualty Groups and Companies." Accessed March 6, 2020.
- National Highway Traffic Safety Administration (NHTSA). "2018 Fatality Analysis Reporting System (FARS)." Accessed March 6, 2020.