If you are looking to get the best and cheapest car Insurance quotes in Alaska then this article is going to be very informative for you. If you own Car in Alaska, then Auto insurance is going to be an important purchase. There are three main reasons to buy an auto insurance:
To comply with state laws
In Alaska, auto insurance is required. If you drive without insurance, you could face fines and other penalties, and your vehicle could be impounded.
To satisfy your lender
If you have a car loan, most lenders require you to have insurance to protect their interest in your car. If you let your insurance lapse, your lender will likely have your car insured.
To protect your assets
for accidents that happen to others for which you are responsible. Liability, Auto insurance can provide bodily injury and property damage liability coverage.
Your personal auto insurance policy may also cover the costs associated with repairing your vehicle after an accident. In addition, your auto insurance company may help pay for any medical expenses related to your injuries. Finally, your auto insurance policy may also pay for any lost wages you incur due to the accident
Requirements for Car insurance in Alaska by states law
Car insurance is mandatory in Alaska. The state requires drivers to carry proof of auto insurance coverage at all times. If you don’t have insurance, you face fines and possible jail time.
Alaska is the largest U.S. state and because of its remote location, operating a vehicle there is much different than in the rest of the country. Most roads in Alaska only go to a relatively small portion, so most of the state is only accessible by plane and boat.
Car insurance rates vary depending on where you live. In some places, such as Anchorage, they can be higher than average. That’s because the city has a high crime rate and a large number of uninsured motorists.
Minimum auto insurance requirements in Alaska:
You need certain coverage to be able to drive legally in Alaska Before you set out on the road, you need to have at least the following minimal coverages:
- Bodily injury liability: $50,000 per person and
- Bodily injury liability: $100,000 per accident
- Property damage liability: $25,000 per accident
What is the average premium expenditure in Alaska?
In the year 2022 NAIC released data for State Average Expenditures and Average Premiums for Personal Automobile Insurance for the period 2016 to 2019:
Liability Average Premium
Average Premium for Liability auto insurance in Alaska for the period 2016 to 2019
| Year | Liability Average Premium |
| 2016 | $557 |
| 2017 | $562 |
| 2018 | $576 |
| 2019 | $585 |
Collision Average Premium
Average Premium for Collision auto insurance in Alaska for the period 2016 to 2019
| Year | Collision Average Premium |
| 2016 | $357 |
| 2017 | $371 |
| 2018 | $387 |
| 2019 | $402 |
Comprehensive Average Premium
Average Premium for Comprehensive auto insurance in Alaska for the period 2016 to 2019
| Year | Comprehensive Average Premium |
| 2016 | $139 |
| 2017 | $141 |
| 2018 | $148 |
| 2019 | $155 |
Combined Average Premium
The combined average premium is calculated by summing the average premiums for the three
coverages liability, comprehensive, and collision.
Average Premium for Combined auto insurance in Alaska for the period 2016 to 2019:
| Year | Combined Average Premium |
| 2016 | $1053 |
| 2017 | $1073 |
| 2018 | $1111 |
| 2019 | $1141 |
Average Premium Expenditure
The average expenditure is an estimate of what consumers in the state spent on average for auto insurance. The average expenditure for auto insurance in Alaska for the period 2016 to 2019:
| Year | Average Expenditure |
| 2016 | $911 |
| 2017 | $931 |
| 2018 | $965 |
| 2019 | $991 |
Top 5 cheapest car insurance providers in Alaska
U.S. News is an online news publication that provides information about current events, politics, health, science, education, and more. Here are the Top 5 cheapest car insurance providers in Alaska by Average Annual rate suggested by US News Data for 2022. Your rates may vary, depending on factors such as your driving record, location, age, and even zip code.
| COMPANY | AVERAGE ANNUAL RATE |
| Progressive | $1,107 |
| Allstate | $1,602 |
| State Farm | $1,017 |
| Geico | $1,017 |
| USAA | $799 |
Best car insurance providers in Alaska
J.D. Power is an international company that provides research and consulting services to help companies improve their performance. Their goal is to provide consumers with information about how well companies perform
JD Power 2021 U.S. Auto Insurance Study reveals customer satisfaction in five factors: billing process and policy information; claims; interaction; policy offerings; and price. The study is based on responses from auto insurance customers. Here is a list of the best car insurance providers in Alaska
| Position | Auto Insurance Company |
| 1 | State Farm |
| 2 | PEMCO Insurance |
| 3 | Region Average |
| 4 | Allstate |
| 5 | American Family |
How to get car insurance quotes in Alaska
The most important thing you can do to save money on auto insurance is shop around. You should compare rates at several different companies. This will help you find the cheapest policy possible. Also, make sure you’re getting the coverage you want
