Best Cheap Auto Insurance in Anchorage, Alaska (2024)

Compared to the average rates in Alaska, car insurance is more expensive in Anchorage, so it’s crucial to shop for the cheapest rates.

Anna Baluch
Written byAnna Baluch
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Anna BaluchInsurance Writer
  • 4+ years writing insurance and personal finance content

  • MBA from Roosevelt University

Anna leverages her personal finance and insurance knowledge to create educational content that helps people make smart financial decisions.

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Courtney Mikulski
Courtney MikulskiSenior Editor, Auto
  • 3+ years producing insurance and personal finance content

  • Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

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Updated June 16, 2024

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Nestled between the Chugach Mountains and Cook Inlet, Anchorage is the largest city in Alaska and has no shortage of wilderness attractions, like the Alaska Zoo and Chugach State Park. It’s no surprise that car insurance costs are a bit higher than in the rest of the state.

On average, Anchorage residents pay $98 per month for a liability-only policy and $177 for full coverage. Fortunately, cheap car insurance is still available. Here’s what you need to know about finding affordable coverage in Anchorage.

Quick Facts
  • Anchorage’s average rates for full-coverage auto insurance are 9% higher than the state average.

  • If you’re a high-risk driver struggling to find coverage in Anchorage, you may be eligible for the Alaska Automobile Insurance Plan for high-risk auto insurance.

  • Alaska allows insurance companies to consider credit when determining premiums, so a high credit score can lead to a better deal.[1]

Best car insurance companies in Anchorage

Locking in affordable car insurance coverage in Anchorage is essential, but it takes a bit of effort. It’s a good idea to compare several car insurance companies, including the ones Insurify identified as some of the best options below.

Insurance CompanyIQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
Full CoverageLiability OnlyBest For
State Farm4.6$137$91Liability coverage
GEICO4.4$140$92Digital experience
Midvale Home & Auto3.2$177$117Discounts
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Our editorial team spent more than 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. The team weighted criteria by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1-to-5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. Insurify updates ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: Insurify uses data from AM Best, S&P, Moody’s, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 28,000 customer reviews across 155 car insurance companies. We also consider third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the U.S., as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify scores availability and reach by identifying the number of states in which insurers offer coverage and company size by market share.

Best insurer for liability-only coverage: State Farm

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.6
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
842
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$54/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$117/mo

State Farm is one of the largest car insurers in the U.S. and has offered car insurance for more than 100 years. It provides a variety of standard and non-standard insurance coverages and a generous bundling discount for combining your auto and home insurance policy.

Pros
  • Strong financial strength ratings

  • Select Service program for vehicle claims and repairs

Cons
  • Gap insurance not available

  • Can’t purchase a policy online

Read our State Farm review
Rosa - June 16, 2024
Verified

Not Happy

The individual agent was excellent, but as a whole, I'm not satisfied with State Farm. They didn't renew my policy just because I filed a claim. I wasn't given any explanation. I've always heard that State Farm cancels senior citizens.

Ruth - June 16, 2024
Verified

Not Happy At All

They turn a simple policy inclusion into a claim, which doesn't go away and causes the prices to increase.

John - June 16, 2024
Verified

Overpriced and Unresponsive Sales Team

I am disappointed.

Best insurer for a digital experience: GEICO

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
835
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$55/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$119/mo

The Government Employees Insurance Company, now known as GEICO, has been around since 1936. GEICO’s lineup of insurance products includes home insurance, renters insurance, and condo insurance. A.M. Best gave GEICO an A++ financial strength rating, the highest available.

Pros
  • Robust mobile app

  • Savings possible via DriveEasy program

Cons
  • Only two local agents in Anchorage

  • Gap insurance and rideshare insurance not available

Read our GEICO review
Joseph J - June 16, 2024
Verified

It's way too expensive. It feels like I'm paying for every bad driver on the road, even though I have a spotless driving record.

It's way too expensive. It feels like I'm paying for every bad driver on the road, even though I have a spotless driving record.

David - June 16, 2024
Verified

GEICO's Rates are Too High

The premiums have increased astronomically.

Cynthia - June 16, 2024
Verified

Poor Service

Stay away from this disorganized, greedy, and rarely available company.

Best insurer for discounts: Midvale Home & Auto

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
3.2
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
Not rated
A.M. Best
A.M. Best analyzes an insurer’s financials, operating performance, business profile, and other factors to generate an opinion-based rating of a company’s financial and credit strength. Ratings range from A++ (exceptional) to D (poor).
A

Owned by American Family Insurance, Midvale Home & Auto offers home insurance, condo insurance, renters insurance, and car insurance. As a customer, you can enjoy competitive rates as well as a variety of coverage options and discounts.

Pros
  • Many advertised discounts 

  • Online claims process

Cons
  • Not accredited with the Better Business Bureau (BBB)

  • Minimal policy information online

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How to get the cheapest car insurance in Anchorage

Each car insurance company sets its own car insurance rates, making it essential to consider all your options. Here are several tips to help you score the cheapest car insurance policy in Anchorage:

  • Shop around. Request free car insurance quotes from several car insurance companies. This will make it easier to find the right auto insurer for your budget and unique needs.

  • Explore discounts. Most car insurance companies offer discounts so you can save some money on a policy. Common discounts include the good student discount, loyalty discount, and safety feature discount.

  • Bundle your policy. If you need home insurance, renters insurance, or any other type of insurance product, find out if you can bundle it with an auto policy. Many insurers will give you a discount.

  • Practice responsible driving. Speeding tickets, at-fault accidents, and DUIs can raise your car insurance premiums. Always drive safely to maintain a clean driving record and avoid them.

Cheapest liability-only car insurance in Anchorage

Per Alaska state laws, Anchorage drivers must purchase liability car insurance to drive legally. Liability-only insurance covers the property damage and injuries of other drivers and passengers after an at-fault accident. This type of policy typically offers the most affordable car insurance coverage.

The table below shows the cheapest liability-only insurance companies in Anchorage.

Insurance CompanyAverage Monthly Quote
State Farm$91
GEICO$92
USAA$100
Umialik Insurance$102
Midvale Home & Auto$117
Progressive$152
Allstate$164
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest full-coverage car insurance in Anchorage

Full-coverage car insurance usually includes liability, collision, and comprehensive coverage. It’s more expensive than liability-only insurance, but it offers additional protection. If you have a loan or lease on your vehicle, your lender may require full coverage.

The table below shows the cheapest full-coverage insurance companies in Anchorage, Alaska.

Insurance CompanyAverage Monthly Quote
State Farm$137
GEICO$140
USAA$152
Umialik Insurance$154
Midvale Home & Auto$177
Progressive$230
Allstate$248
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Car insurance requirements in Alaska

Alaska is a tort, or at-fault, state. This means you’ll need to pay for the other drivers’ property damage and injury costs if you’re responsible for a motor vehicle accident. If you can’t show proof of personal auto insurance, you’ll face financial and legal consequences.

Here are the minimum car insurance requirements in Alaska:[2]

CoverageMinimum Requirements
Bodily injury liability$50,000 per person and $100,000 per accident
Property damage liability$25,000 per accident

Alaska’s required car insurance limits are significantly higher than in most states. But you may still want to invest in optional coverage for extra protection in various situations. Here are several to consider:

  • illustration card https://a.storyblok.com/f/162273/x/665da91bf7/comprehensive-coverage.svg

    Comprehensive coverage

    Comprehensive coverage kicks in if an incident other than an auto accident damages your car, like theft, storms, and falling trees.

  • illustration card https://a.storyblok.com/f/162273/x/169fdfde11/liability-coverage.svg

    Collision coverage

    Collision coverage pays to repair or replace your vehicle if you hit a stationary object or another vehicle, regardless of who’s at fault.

  • illustration card https://a.storyblok.com/f/162273/x/5285c4cd74/uninsured-or-underinsured-motorist-coverage.svg

    Uninsured/underinsured motorist coverage

    Uninsured/underinsured motorist coverage can protect you financially if the at-fault driver doesn’t have insurance or doesn’t have enough insurance to cover your expenses.

  • illustration card https://a.storyblok.com/f/162273/x/4c9753bdbe/medical-payments.svg

    Medical payments coverage

    Medical payments insurance is similar to personal injury protection (PIP) coverage and can cover your medical expenses after an accident, even if you caused it.

  • illustration card https://a.storyblok.com/f/162273/100x100/24f1697280/car-key.svg

    Rental reimbursement coverage

    Rental reimbursement helps pay for the cost of a rental car while your car is in the shop for repairs.

Learn More: How Much Car Insurance Do You Need?

Learn More: How Much Car Insurance Do You Need?

Cheapest car insurance for drivers with an incident

At-fault accidents, speeding tickets, and DUIs are a few incidents that can result in higher rates. Auto insurers consider these traffic violations as high-risk driving behaviors that make you more likely to file a claim. If you have an incident on your driving record, you can expect to pay more for a policy in Anchorage than a driver with a clean record.

Find High-Risk Car Insurance in Anchorage

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Cheapest car insurance for drivers with a speeding ticket

Speeding 10 mph more than the speed limit can result in a fine of $180, according to the city’s police department.[3] When you speed, you’re more likely to lose control of your vehicle and cause an accident. For this reason, speeding tickets may warrant higher car insurance premiums.

Here’s a look at the cheapest auto insurance companies for drivers with a speeding ticket on their records in Anchorage, Alaska.

Insurance CompanyAverage Monthly Quote: Liability Only
State Farm$127
GEICO$129
USAA$140
Umialik Insurance$142
Midvale Home & Auto$163
Progressive$212
Allstate$229
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for drivers with an at-fault accident

Alaska reported 66 fatalities and 55 total fatal car accidents in 2020.[4] If you cause a car accident, car insurance companies will likely charge you more for an auto policy, unless you purchased accident forgiveness. Factors like the severity of the accident and the total claim value will determine how much your premium will increase.

Here’s a look at the most affordable insurance companies in Anchorage for drivers with an at-fault accident.

Insurance CompanyAverage Monthly Quote: Liability Only
State Farm$142
GEICO$145
USAA$157
Umialik Insurance$160
Midvale Home & Auto$183
Progressive$238
Allstate$257
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for drivers with a DUI

Alaska takes DUIs in Anchorage very seriously. If you have a DUI conviction, you’ll face penalties, like fines, jail time, and driver’s license revocation.[5] You’ll also see your car insurance costs increase, as it’s extremely risky driving behavior. Furthermore, Alaska may require you to keep an SR-22 insurance form on file with the state for five years with no lapse in coverage.

This table shows the cheapest car insurance companies in Anchorage for drivers with DUIs.

Insurance CompanyAverage Monthly Quote: Liability Only
State Farm$169
GEICO$171
USAA$186
Umialik Insurance$189
Midvale Home & Auto$217
Progressive$282
Allstate$305
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for seniors

Compared to younger drivers, seniors have a higher car accident mortality rate. Average car insurance premiums by age group tend to decrease around age 35 and increase a bit around age 75 as a result of potential physical and mental impairments. Despite these increases, senior drivers still tend to pay lower-than-average car insurance rates.

Here’s a look at the cheapest car insurance quotes for seniors in Anchorage.

Insurance CompanyAverage Monthly Quote: Liability Only
State Farm$65
GEICO$66
USAA$72
Umialik Insurance$73
Midvale Home & Auto$84
Progressive$109
Allstate$118
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

Cheapest car insurance for teens

Teenagers are young drivers who don’t have a lot of driving experience, and Alaska reports that teens account for 20% of traffic fatalities and major injuries in the state.[6] Even though auto insurers charge teens higher car insurance premiums, they can save money if they complete a defensive driving course or stay on their parents’ insurance policy.

The table below shows the cheapest auto insurers for teens and young adults in Anchorage.

Insurance CompanyAverage Monthly Quote: Liability Only
State Farm$163
GEICO$166
USAA$180
Umialik Insurance$183
Midvale Home & Auto$210
Progressive$273
Allstate$295
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.

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Anchorage car insurance quotes by credit tier

Alaska allows car insurance companies to use your credit score when determining premiums.[1] Car insurance companies argue that drivers with good to excellent credit are less risky and, in turn, typically file fewer claims than those with low credit scores. This is why they might consider the credit scores of prospective policyholders to help determine premiums.

According to the chart below, an Anchorage driver with excellent credit may pay $136 per month, on average, while a driver with poor credit might be charged an average of $274 per month.

Rates by Credit Tier

Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Is car insurance more expensive in Anchorage?

Average liability-only car insurance premiums in Anchorage are less than the national average. It’s crucial to note that auto insurance costs in Alaska differ by city and ZIP code due to factors like population, weather conditions, and car accident rates. For example, you’ll pay less on average for a car insurance policy in Fairbanks than you would in Anchorage.

More cities in Alaska

Here’s a look at the average cost of car insurance in a few cities in Alaska and how they compare to Anchorage.

CityAverage Monthly QuoteCompared to Anchorage
Fairbanks$141-20%
Wasilla$1896%
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Anchorage car insurance FAQs

Check out Insurify’s guide on mitigating vehicle damage from road salt and read the answers to common questions about Anchorage car insurance below.

  • How much is car insurance in Anchorage?

    Average car insurance rates in Anchorage are $98 for liability-only coverage and $177 for full coverage.

  • What are the best car insurance companies in Anchorage?

    Some of the best car insurance companies in Anchorage include GEICO, Midvale Home & Auto, and State Farm. These insurers have strong Insurify Quality (IQ) Scores, plenty of discounts, and additional coverage options for drivers to customize policies. However, the best auto insurer in Anchorage depends on your specific needs, which is why you should always compare quotes to find the best deal.

  • What is the minimum car insurance in Alaska?

    Alaska requires 50/100/25 limits, which translates to $50,000 per person and $100,000 per accident for bodily injury liability, and $25,000 per accident for property damage liability.[2]

  • How can you find the best car insurance rates in Anchorage?

    Comparing quotes, looking for discounts, and bundling policies are the best ways to find affordable car insurance in Anchorage. Comparing quotes from multiple companies for the same coverage levels can help you find the insurer that offers the best rates for your needs and driving profile. Furthermore, bundling policies and qualifying for discounts can help lower the cost of car insurance.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. Alaska Division of Insurance. "Consumer Guide to Automobile Insurance."
  2. Alaska Division of Insurance. "Auto Coverage Options."
  3. Anchorage Police Department. "Traffic Unit."
  4. Alaska Department of Transportation. "Fatality Analysis Reporting System (FARS)."
  5. The Alaska Court System. "About D.U.I. (Driving Under the Influence)."
  6. Alaska Department of Transportation. "Teen Driving in Alaska."
Anna Baluch
Anna BaluchInsurance Writer

Anna Baluch is a Cleveland-based personal finance and insurance expert. With an MBA from Roosevelt University, she enjoys writing educational content that helps people make smart financial decisions. Her work can be seen across the internet on many publications, including Freedom Debt Relief, Credit Karma, RateGenius, and the Balance. Connect with Anna on LinkedIn.

Courtney Mikulski
Edited byCourtney MikulskiSenior Editor, Auto
Courtney Mikulski
Courtney MikulskiSenior Editor, Auto
  • 3+ years producing insurance and personal finance content

  • Main architect of the Insurify Quality Score

Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.

Featured in

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