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Alaska Minimum Car Insurance Requirements, Best Insurer Comparison for Savings, & Who Has the Cheapest Quotes?

Bodily Injury Liability

Alaska residents are required to carry at least $50,000 of bodily injury liability to cover any hospital bills for a single person with a $100,000 limit per accident.

Property Damage Liability

In the event that there’s property damage Alaskans must carry at least $25,000 of property damage liability insurance.

Property damage is any damage to road signs, buildings or automobiles that aren’t your own.

Minimum Requirements in Alaska

CoverageAlaska Minimum Liability CoverageRecommended Auto Insurance Coverage
Bodily Injury Liability$50,000 / $100,000$50,000 / $100,000
Property Damage$25,000$25,000
Uninsured/ Underinsured CoverageOptional$50,000 / $100,000
Medical Payments Optional$5,000
Comprehensive and CollisionOptional$500 Deductibles

Alaska car insurance rates would be listed as 50/100/25 as you can see by the figures and table above respectfully.

Alaska is the biggest state in the Union and has extremely harsh winters where residents of the state have sixty below zero temperatures during the month of January and February.

Low-cost premium choices for 25 year old driver.

It is recommended for the residents of Alaska to have more than the minimum coverage because of the higher risk of driving, such as driving on ice.

Note: There are a lot of cities in Alaska which are exempt from the mandatory insurance law from Alaska.gov

Personal Injury Protection

The state of Alaska is not a “no-fault” state and thus the state does not require drivers to carry Personal Injury Protection (PIP), comprehensive, collision, or uninsured motorist protection.

Alaska is also known for its rugged terrain and your average driver normally has a vehicle which is able to handle such terrain.

Best auto insurance choices for 30 year old.

Since 4 x 4 trucks and similar vehicles cost more to insure, along with the climate insurance rates are going to be higher than average.

Like any other state, Alaska requires its drivers to carry a minimum amount of liability protection and even though the state’s insurance rates are higher than average.

Uninsured Motorist Protection

It is a good idea to think about carrying uninsured motorist protection in the event you are in accident with another driver that is not carrying sufficient coverage.

Best policy choices by insurer for 35 year old.

Comprehensive & Collision Coverage

Comprehensive and collision coverage would be another option since moose, deer, and other animals are commonly hit by drivers in the state of Alaska.

After comparing quotes be sure to contact an insurance broker to be sure you have the correct amount of coverage for your vehicle.

Best premium choices for 45 year old driver.

Who has the Cheapest Quotes in Alaska?

Below is a table of the 15 cheapest carriers within the state.

I have put USAA on the list since many residents are in the military, former military, or a family member of one.

Across the age spectrum USAA is the cheapest. With a quote 21% below average.

Liberty Mutual average 19% lower than the “mean” premium quote for all range of drivers.

Allstate was able to offer quotes from 14 to 18% below the average statewide premium.

Lowest premium options by carrier for 55 year old.

The quotes obtain for zip codes residing in Anchorage.

If you live in remote areas of Alaska your quotes could vary significantly from the ones I obtained when doing my queries.

Company25 Y/O Premium Price30 Y/O35 Y/O45 Y/O55 Y/O
USAA$1,433$946$790$643$435
Liberty Mutual$1,490$955$825$664$490
Allstate$1,543$1,032$879$668$500
State Farm$1,654$1,055$890$689$523
GEICO$1,789$1,054$900$717$543
Umialik$1,795$1,056$910$720$554
21st Century$1,800$1,076$912$754$567
Country Mutual$1,812$1,187$911$769$588
Progressive$1,845$1,298$921$800$590
Travelers$1,867$1,379$976$823$600
The Hartford$1,900$1,446$1,032$876$632
Safeco$1,943$1,498$1,044$887$631
Amica$2,040$1,543$1,069$890$649
Esurance$2,045$1,601$1,148$921$655
Country Financial Insurance$2,076$1,643$1,248$977$698

Best Insurers by Written Premiums, Rate Change, and Consumer Rating

To find the best overall insurers in the state I found the number of written premiums for each carrier.

Then rate change, usually a hike, over an 18 month period.

Then the consumer rating for each out of 5 stars.

The insurers which have the highest number of written premiums have a higher incidents of complaints. Which is to be expected.

This is should not be a reason to take any of the insurers in the table below out of your determination of buying a policy from them.

CompanyWritten PremiumsRate Change > 18 Months# of ComplaintsConsumer Rating out of 5 Stars
State Farm$122,425,453+1.7%214.3
GEICO80,517,722+1.8%314.4
USAA76,785,248+1.6%334.5
Progressive47,115,979+2.0%274.4
Safeco13,993,788+2.4%94.1
Country Financial12,687,513+2.7%84.1
Hartford12,239,589+2.1%34.2
Horace Mann6,217,879 +3.0%34.0
21st Century5,967,443 +2.7%53.9
Umialik Insurance Company2,112,694+2.0%143.8
Liberty Mutual951,531 +2.2%64.4
MetLife655,847 +1.9%34.3
Foremost599,337+2.3%34.3
Amica454,543+2.4%34.2
National General448,054+2.6%24.3
Markel154,977+2.8%04.0

Average Premium by City

Below is the average policy price by cities in Alaska.

The two cities with the highest average premium is Fairbanks and Anchorage. The two most populous cities in the state.

North Pole is nearly as high, however the city of North Pole is about 15 miles from Fairbanks.

Many of the residents of North Pole travel to and from the city of Fairbanks for work.

CityAvg PremiumCityAvg Premium
Anchorage$1,378Kenai$1,134
College$1,156North Pole$1,278
Fairbanks$1,345Palmer$956
Juneau$989Soldotna$1,009

Anchorage

Company30 Y/O45 Y/O55 Y/O
USAA$1,055$789$478
Liberty Mutual$1,089$800$543
Allstate$1,198$838$521
State Farm$1,243$879$522
GEICO$1,267$900$576
Umialik$1,387$912$580
21st Century$1,465$934$624

With a population of nearly 300,000 residents the city of Anchorage is located in the south-central part of Alaska at the base of the Chugach Mountains.

The largest city in the state, Anchorage encompasses an area of nearly 2,000 square miles, about the size of the state of Delaware.

The city sits on a triangular peninsula surrounded by the Cook Inlet, which is the northernmost reach of the Pacific Ocean.

Alaska used to be owned by Russia. Who in 1867 sold Alaska for $7,200,000 or about 8 cents an acre. 

Although the sale was mocked at the time and known as “Seward’s Folly” (referring to U.S. Secretary of State William Seward who pushed for the purchase of the territory), the subsequent major discovery of oil in the territory helped change this perception.

Surrounded by mountains and beautiful scenery Anchorage has some of the most breath taking views particularly during the summer months. 

Recreational sites in and around Anchorage include Chugach State Park, a half-million acre park rich in recreational opportunities such as hiking, skiing, camping, and snow-machining. Including the wonderful  Denali National Park.

(The residents of Alaska say “snow-machining” and not “snowmobiling”, just for your info.)

Other notable attractions include the Anchorage Museum of History and Art, Alaska Aviation Heritage Museum, Native Heritage Center, Russian Orthodox Museum, and the Imaginarium.

Quote Comparison

Cheapest prices for a premium in Anchorage, AK

If you are in the market for a new policy then you want to get quotes from USAA, Liberty Mutual, and Allstate. Each of them I queried at $1,055, $1,089, and $1,198 for a 30 year old driver. All three quotes are 15% lower than the “mean” premium rate in Anchorage.

For a 45 year old driver the cheapest quotes are with USAA, Liberty, and Allstate. Each at $789, $800, and $838. Or nearly 18% lower than the average premium.

A 55 year old can find low rates with USAA, Allstate, and State Farm. Each at $478, $521, and $522 respectfully for full coverage. All are 18% lower than the average quote. 

Fairbanks

Company30 Y/O45 Y/O55 Y/O
USAA$980$712$467
State Farm$1,043$714$490
Liberty Mutual$1,079$719$538
Allstate$1,127$769$540
GEICO$1,169$800$568
Umialik$1,231$859$617
21st Century$1,248$932$658

Fairbanks has a population of 32,000 residents. It’s the third largest city in the state of Alaska and serves as a junction for several primary highways.

The climate experiences vast changes, with quick temperature movements and thunderstorms. Snow falls during the summer months.

However, during the long days of summer the temperature occasionally rises over 70 degrees.

The bitter cold winters typically begin by mid-October and continue until mid-April.

One of the biggest attractions is the Aurora Borealis or Northern Lights. Thousands of visitors come from all over the world to view the spectacular sky imagery.

Pioneer Park is a wonderful escape for residents some travelling from North Pole to enjoy.

Other notable attractions include, the Georgeson Botanical Garden, Trans-Atlantic Pipeline, El Dorado Gold Mine tour, University of Alaska Museum, and the R.C. Wood House.

Quote Comparison

Cheapest Fairbanks premium prices for 30 and 55 year old driver.

If you are looking for cheap auto insurance then start with USAA, State Farm, and Liberty Mutual.

I queried each at $980, $1,043, and $1,079 respectfully for a 30 year old driver. Which is 14% lower than the “mean” premium in the city of Fairbanks.

A 45 year old can find low rates with the same carriers. USAA, State Farm, and Liberty Mutual. All them I queried between $712 and $719, USAA being the cheapest at $712. It would be smart to get quotes from all the carriers listed for maximum savings.

A 55 year old can low rates with USAA at $467. State Farm is $23 more at $490. While Liberty is $48 more than State Farm at $538.

Juneau

Company30 Y/O45 Y/O55 Y/O
State Farm$976$711$512
USAA$986$714$556
Liberty Mutual$1,032$768$579
Allstate$1,245$821$568
GEICO$1,276$849$580
Umialik$1,367$910$632
21st Century$1,418$948$667

Juneau is the capital of the State of Alaska and is the second largest city in the state with nearly 33,000 residents.

It is located on the Gastineau Channel on the Alexander Archipelago of southeastern Alaska.

Prior to European settlement, the area now occupied by Juneau was inhabited by Tlingit Indians, known as the Auke and Taku tribes.

The area was a favorite fishing ground of the Indians. In 1880, the site of Juneau was founded as a mining camp by Joe Juneau and Richard Harris.

The town was originally called Harrisburg, after Richard Harris. Subsequently the name was changed to Rockwell.

The name was last changed to Juneau in 1881.

Notable attractions include, Alaska State Museum, Douglas City Museum, Lyric Opera, The Last Chance Mining Museum & Historical Park, and the Opera to Go.

Quote Comparison

Juneau cheapest policy options for 30 and 55 year old.

If you are looking for more affordable auto insurance then your best bet is with State Farm.

When I queried for quotes the cheapest is State Farm, USAA, and Liberty Mutual. Each at $976, $986, and $1,032 for a 30 year old driver with full coverage. Which is 12% lower than the “mean” premium within Juneau.

For a 45 year old driver the cheapest quotes are with State Farm at $711. Followed by USAA at $714 and Liberty Mutual at $768. State Farm and USAA are 15% lower than the average premium while Liberty is 11% lower.

For a 55 year old the quotes changed up a bit. State Farm is the lowest at $512. Followed by USAA at $556 then Allstate at $568. State Farm is 16% lower than the average quote while USAA and Allstate are 13% lower.

Resources & Department of Motor Vehicles

Department of InsuranceDepartment of TransportationMotor Vehicle Commission
333 Willoughby Ave, Juneau, AK 99801
(907) 465-2515
3132 Channel Dr, Juneau, AK 99801
(907) 465-3900
1300 W Benson Blvd, Anchorage, AK 99503
(907) 269-5551
WebsiteWebsiteWebsite
Final Thoughts

Since the average consumer pays between $80,000 and $100,000 for auto insurance over the course of their life, it would be smart to diligently compare quotes to find the best rate.

Residents in Alaska can use the information provided in this article to make a better decision when looking for a provider at a discount.

However, the most important is to get quotes and once you buy an auto policy, get available discounts.

Then review your premium every couple of years.

Sources

https://www.usaa.com

https://www.libertymutual.com/

https://www.allstate.com/auto-insurance/alaska-auto-insurance-coverages.aspx

https://www.commerce.alaska.gov

https://www.commerce.alaska.gov/

Penny Adams
Penny Adams is a freelance professional writer. Articles written are original, highly researched, and complete with sources listed. When not writing or telephone fund raising for non-profit organizations, I enjoy spending time with my daughter and granddaughter, growing food, and exploring the great outdoors in Michigan.

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