Car Insurance In Alaska: In Alaska, full coverage annual premiums are 3% lower than the national average, while minimum coverage premiums are 32% lower. Women over 40 pay an average of $7 more annually for full coverage Car insurance in Alaska than men. Alaskans with strong credit but subpar driving records pay $97 more annually on average for full coverage than those with excellent credit but one accident for which they were at fault. The 2021 Honda Odyssey had the lowest full coverage rate of the cars we looked at, with an average yearly cost of $1,584 in Alaska.
How Much Is Car Insurance In Alaska?
If you’re wondering “how much car insurance is in Alaska,” you should be aware that your residence state has an impact on your typical vehicle insurance premium and that certain states have lower premiums than others. Fortunately, prices in Alaska typically fall below average. According to premium statistics from Quadrant Information Services, a full coverage Car insurance policy in Alaska typically costs $1,946 a year, while the cost of the bare minimum of coverage is $421. The national average prices are $2,014 and $622, respectively, thus these rates are a little lower.
| Average minimum coverage premium in Alaska | Average annual full coverage premium in Alaska |
|---|---|
| $422 | $1,947 |
Alaska Car Insurance Rates By City
Your precise location and even your ZIP code, in addition to your state and other personal rating variables, might affect the cost of your Car insurance. The average premium in your area may be impacted by location-specific factors including the frequency of accidents and the possibility of vehicle theft or vandalism. You can see how the typical full-coverage Car insurance rates differ between different Alaskan cities in the table below.
| Alaska city | Average annual full coverage premium |
|---|---|
| Anchorage | $2,045 |
| Bethel | $1,944 |
| Fairbanks | $1,887 |
| Kenai | $1,812 |
| Wasilla | $1,971 |
Average Car Insurance Costs By Age And Gender In Alaska
Your age is another element that, in the majority of states, including Alaska, can have a considerable impact on your premium. Teenagers and young people frequently drive more recklessly than their more experienced counterparts. Due to their lack of expertise behind the wheel, kids frequently have to pay the highest premiums because they run the greatest risk of being in a Car accident. In general, rates decline with age but tend to rise once you reach the age of 70 because of potential health problems associated with aging that may increase your risk of accidents.
In Alaska, gender also affects how much vehicle insurance costs. Generally speaking, men (especially young men) pay higher premiums for Car insurance than women, although this isn’t always the case. Take a look at the tables below. You can see that in Alaska, after age 40, women pay slightly higher average rates than males. As actuarial tables are used to determine vehicle insurance rates, statistics may indicate that women in Alaska experience more claims payouts than men do, which could result in slightly higher rates.
In Alaska, gender also affects how much vehicle insurance costs. Generally speaking, men (especially young men) pay higher premiums for Car insurance than women, although this isn’t always the case. Take a look at the tables below. You can see that in Alaska, after age 40, women pay slightly higher average rates than males. As actuarial tables are used to determine vehicle insurance rates, statistics may indicate that women in Alaska experience more claims payouts than men do, which could result in slightly higher rates.
| Age | full coverage premium in Alaska (Average monthly) – Male | full coverage premium in Alaska (Average annual) – Female |
|---|---|---|
| Age 16* | $368 | $4,416 |
| Age 18 | $530 | $6,360 |
| Age 20 | $396 | $4,748 |
| Age 25 | $209 | $2,506 |
| Age 30 | $169 | $2,026 |
| Age 40 | $162 | $1,943 |
| Age 50 | $149 | $1,786 |
| Age 60 | $146 | $1,751 |
| Age 70 | $163 | $1,957 |
*16-year-old computed using discounts from parents’ policy; 18- and 20-year-old renters on their own policies; no discounts.
Cost Considerations For Young Drivers In Alaska
You probably want to reduce the cost of your Car insurance if you have a teen or young driver living in your home. You could achieve this goal by adding your young adult child to your insurance coverage rather than putting them on their own. To be named as an additional driver on your policy, for instance, your young adult child will probably need to reside in your house.
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The comparison of the average rates in Alaska for young drivers listed on their parent’s insurance and those listed on their own are shown in the table below.
| Age | Average annual premium for drivers on their parents’ policy in Alaska |
|---|---|
| Age 16 | $4,096 |
| Age 17 | $3,790 |
| Age 18 | $3,481 |
| Age 19 | $3,262 |
| Age 20 | $3,072 |
How Does Driving Record Impact The Cost Of Car Insurance In Alaska?
An insurance provider may perceive you as a high-risk driver if you have incidents on your driving record, such as tickets, accidents, or DUIs. Your premium will probably be more than normal the more likely the insurance provider believes you are to make a claim. However, some offenses have a greater impact on your premium than others, as indicated in the table below. Drivers with any conviction or accident will likely pay more for insurance than those with a clean record:
| Driving incident | Average annual full coverage premium in Alaska | Percentage increase in average annual premium |
|---|---|---|
| Clean driving record | $1,940 | 2% |
| Speeding ticket | $2,220 | 13% |
| Accident | $2,604 | 35% |
| DUI | $2,819 | 40% |
Car Insurance Rates In Alaska By Credit Score
Although some states forbid it, Alaska does not forbid vehicle insurance companies from using your credit score to set your premium. So, Alaskans with poorer credit tend to pay more for insurance. According to statistics, drivers with low credit scores make more claims, which forces insurance companies to raise prices to reflect the increased risk.
| Credit tier | Annual full coverage premium in Alaska |
|---|---|
| Poor | $2,697 |
| Fair | $2,054 |
| Good | $1,946 |
| Excellent | $1,771 |
Alaska Car Insurance Rates By Vehicle Type
Last but not least, your Alaska Car insurance rates may be influenced by the sort of vehicle you drive. Due in large part to higher labor and part expenses, drivers of luxury and sports automobiles frequently pay the highest premiums. Another consideration is the size of the vehicle; in an accident when the at-fault party is at blame, huge trucks and SUVs tend to cause more damage, which could result in high liability coverage costs. Due to their increased popularity and increased statistical risk of being involved in a claim, some popular mid-size cars may also have higher rates.
It may be a good idea to receive quotes for each sort of vehicle you’re searching for if you’re shopping for a new automobile because a car’s make and model might have a big impact on your premium.
How To Save On Car Insurance In Alaska
Despite the fact that Alaska’s typical vehicle insurance rates are lower than those nationwide, there are frequently additional ways to save money. You might want to think about the following advice if finding affordable Car insurance is your top priority:
Check around: Every firm has a unique ranking system, therefore the one that is cheapest for one person may not be the cheapest for everyone. Comparing prices from several suppliers may enable you to locate the coverage you require at a reduced cost. Compare savings Every business offers a unique range of discounts, just as every business has various pricing. Using all available discounts may enable you to make financial savings.
Boost your deductibles: Your car insurance policy contains two deductibles, one for collision coverage and the other for comprehensive coverage if you have full coverage. The greater influence on your premium usually comes from your accident deductible. Your Car insurance will often be less expensive the greater your deductible is. Raising your deductible to obtain a lower rate, however, can be dangerous. Because you will be responsible for paying the deductible if you file a claim for auto damage, pick a deductible that you can afford.
Improve your credit rating: Statistics show that drivers with poor credit ratings are more likely than those with strong credit ratings to file a claim. You may be able to reduce the cost of your Car insurance by taking actions to improve your credit score.
You might want to begin your search for car insurance by speaking with a professional Car insurance agent. An agent may be able to assist you to choose the coverages you need and discover the options you want at a cost that works for your budget.
Car Insurance In Alaska FAQs
What is the average cost of Car Insurance In Alaska Per Month?
In Alaska, full coverage Car insurance typically costs around $162 a month. The average monthly cost of minimal coverage is just over $35. Your monthly premium, however, will be determined by your specific rating factors, which include your age, the car you drive, and your driving history.
How Do I Change Insurance Companies?
It’s not difficult to switch vehicle insurance providers. You can work with that firm’s agents or customer service representatives to start your policy after you’ve chosen which company you want to handle and after you’ve obtained a quote. To prevent a coverage gap, you might wish to confirm the day and hour your new insurance will go into effect before you cancel your previous policy.
Which company is considered to be the Best Car Insurance Company In Alaska?
Every motorist has a distinct expectation of their Car insurance provider, thus there is no simple solution to this problem. Because they have a limited budget, some people may find that the insurance company with the lowest prices is the best option for them. Others are prepared to pay more premiums for a business with top-notch customer support. Making a list of your needs and wants, then using those priorities to reduce the firms from which you request quotations, maybe the simplest method to discover the finest insurance provider for your particular requirements. When in doubt, speaking with a qualified agent could be helpful.
Which company is considered to be the Cheapest Car Insurance Company In Alaska?
Because each insurance provider uses a different formula to determine prices, each motorist will have a different idea of which business offers the lowest Car insurance. For instance, certain carriers may not give as much weight to credit scores as others, making coverage more affordable for people with bad credit. Federal and government personnel may be eligible for discounts from other companies, which could result in lower rates for that group of drivers. You might need to ask for quotations and comparison shops with other businesses to locate the least expensive firm for your particular rating profile.
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