We studied auto insurance quotes in the Last Frontier for a thirty year old single male driver to find the cheapest car insurance companies in Alaska. Where a driver lives and which insurer they purchase a policy from greatly impacts their auto insurance rates, we found. Our sample driver's rates averaged to $773 a year, but rates varied from $435 from the cheapest insurer to $1,339 on the high end. This wide range, where the priciest insurer costs over $900 more than or 3x the cheapest, is why drivers should compare at least three quotes if they want to get affordable rates for their coverage. Enter your zip code in the tool above to get started with a list of insurers active in your neighborhood.
- Cheapest Auto Insurance Companies
- Best Car Insurance Rates by City
- Cost of Car Insurance by City
- Best Auto Insurance Companies in Alaska
We analyzed quotes from twelve different carriers to find the cheapest auto insurance for our sample scenario, a thirty year old single male driver with a 2011 Toyota Camry insured for liability coverage of 50/100/25. Here are the five carriers with the best car insurance rates in Alaska for our scenario compared to statewide average annual rate of $773.
Find the Cheapest Auto Insurance Quotes in Your Area
For our sample driver, the five cheapest insurers were United Services, USAA, GEICO, 21st Century, and State Farm. These five companies charged an average annual rate of $563, compared to the state average of $773. The second cheapest insurer, USAA, only offers insurance to members of the American military, veterans, and their families. However, there are other low cost providers to choose from if drivers do not meet USAA requirements. In addition to the remaining four, Liberty Mutual rounds out the five carriers with the best rates for insuring our sample driver’s vehicle, with an average annual rate of $760.
The Most Expensive Auto Insurance Companies in Alaska
The most expensive companies in Alaska were Teachers Insurance, Amica, and Safeco. The average annual premium for these three insurers is $1,108, almost $335 difference from the state average for our sample driver. These premiums are derived from many factors such as the car he drives, driving record and age so these numbers do not apply to every driver.
Car Insurance Companies in Alaska
Here is a table that ranks the 12 car insurance companies in Alaska that were used in this study:
|Teachers Insurance Company||$1,339|
We looked at some of the largest cities in Alaska and broke down the cost of auto insurance by city to find the cheapest auto insurers based on where drivers live in the state. Even if drivers have the most amount of car insurance coverage and live in the most expensive city, some companies can offer the same coverages for substantially less. Below are the three carriers with the best auto insurance rates for each location.
Anchorage is the most populated city in Alaska by a landslide, and also one of the most expensive cities in Alaska when it comes to insuring a vehicle. Its estimated 300,000 residents can enjoy the perks of living in close proximity to nature through the various gardens in Anchorage, while benefitting from a city lifestyle. The city’s average annual rate for our sample drivers is $896, a 16% or almost $123 premium compared to the state average. However, if drivers insure with one of the cheapest auto insurance companies in Anchorage (United Services, USAA, GEICO, 21st Century, and State Farm), they might be able to save. Our sample driver paid an annual average premium of $563 at the three companies, saving them $210 a year versus the citywide mean.
The largest city in Alaska based on size, Fairbanks is home to only 32,000 residents - significantly lower than the population of Anchorage. Our sample driver living in Fairbanks paid an average annual rate of $780 on car insurance. If drivers are looking to get the most bang for their buck, they should included the lowest priced insurers in Fairbanks when they're getting quotes. USAA, United Services, GEICO, and Liberty Mutual have the four best car insurance rates in Fairbanks.
The most affordable insurers in the capital of Alaska are Liberty Mutual, United Services, and GEICO. Our sample driver paid around $660 on average, which ranked Juneau with the lowest car insurance rates out of all the cities in our analysis. If the sample driver chooses to insure with one of the cheapest companies, they could pay over $100 less than the state average. Fun transportation fact about Juneau: roads here are separated from the rest of the roads in Alaska and vehicles looking to go Haines or Skagway need to take a ferry to get to the other side.
Below are the cities included in our study of the cost of auto insurance in Alaska. The graph ranks the locations from the lowest costs, to the most expensive using the average of our four driver scenarios as a benchmark. We've also provided a table with the cities arrayed in alphabetical order for readers' reference.
|Rank||City||Average Annual Rates||Change vs. State Average|
To find the best auto insurance companies in the state, we calculated the complaint index for some of the most popular carriers in Alaska. By comparing a company’s complaints and its amount of premiums to the Alaska car insurance industry’s complaints to premium ratio, we can determine how well a company is performing compared to its competitors. An index of 1 is average, so the lower the number, the happier drivers are with their insurer’s service.
|Car Insurance Company||Written Premiums||Complaint Index|
|Country Financial Insurance||12,687,513||0|
|Umialik Insurance Company||2,112,694||17.64|
Minimum Auto Insurance Requirements in Alaska
In Alaska, the minimum amounts of liability insurance are $50,000/$100,000 for bodily injury or death and $25,000 for property damage. Anyone who owns a car that is registered in Alaska is required to carry at least the minimum insurance.
|Coverage Type||Alaska Minimum Limits||Study Limits|
|Bodily Injury Liability||$50,000 per person/ $100,000 per accident||$50,000 per person/$100,000 per accident|
|Uninsured/ Underinsured Coverage||Optional||$50,000 per person/ $100,000 per accident|
|Comprehensive and Collision||Optional||$500 Deductibles|
In our analysis, we got quotes for our profiled driver, a thirty year old single male, who drove a 2011 Toyota Camry all-wheel drive with 4 doors and had the same liability coverages of 50/100/25.