One of the many criteria that determine the price you pay for insurance is your address in Anchorage. Cities with more crime and/or more people tend to have more expensive car insurance rates, whereas areas with lower crime rates and fewer weather claims get the luxury of paying less.
The table below sorts the highest-priced areas in Alaska for uninsured drivers to purchase auto insurance in. Anchorage is ranked #1 with a yearly premium of $1,308 for the average insurance policy, which is approximately $109 per month.
| Rank | City | Average Per Year |
|---|---|---|
| 1 | Anchorage | $1,308 |
| 2 | College | $1,282 |
| 3 | Wasilla | $1,278 |
| 4 | Fairbanks | $1,272 |
| 5 | Meadow Lakes | $1,265 |
| 6 | Palmer | $1,252 |
| 7 | Kenai | $1,238 |
| 8 | Nikiski | $1,238 |
| 9 | Sterling | $1,202 |
| 10 | Homer | $1,202 |
| 11 | Kodiak | $1,191 |
| 12 | Ketchikan | $1,024 |
| 13 | Juneau | $1,009 |
| 14 | Sitka | $967 |
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Information shown are estimated as the specific Anchorage residence address can change coverage rates substantially.
The vehicle model on the policy is probably the most important factor that determines whether or not you find the cheapest insurance for uninsured drivers. Vehicles with lots of horsepower, a lack of modern safety features, or high incidents of liability claims will cost quite a bit more to insure than safer models.
The information below showcases auto insurance costs for the most affordable vehicles to buy coverage for.
| Vehicle Insured | Estimated Cost for Full Coverage |
|---|---|
| Hyundai Elantra GLS Touring Station Wagon | $1,421 |
| Ford Escape Limited 2WD | $1,453 |
| Honda Odyssey LX | $1,562 |
| Toyota Tacoma Double Cab 4WD | $1,683 |
| Toyota Camry LE | $1,693 |
| Ford Explorer Limited 2WD | $1,716 |
| Dodge Grand Caravan Crew | $1,723 |
| Honda CR-V EX 2WD | $1,740 |
| Honda Accord EX 4-Dr Sedan | $1,747 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,767 |
| Toyota Corolla XLE | $1,770 |
| Toyota Prius | $1,802 |
| Jeep Wrangler Rubicon 4WD 2-Dr | $1,827 |
| Dodge Ram Quad Cab SLT 2WD | $1,838 |
| GMC Sierra 2500HD SLT Crew Cab 4WD | $1,889 |
| Jeep Grand Cherokee Laredo 4WD | $1,927 |
| Ford F-150 Lariat Crew Cab 2WD | $1,962 |
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Data rating is based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, homeowner, and multi-policy. Estimates do not factor in zip code location which can affect premium rates noticeably.
Based upon the table data, we can conclude that cars like the Hyundai Elantra, Ford Escape, Honda Odyssey, Toyota Tacoma, and Toyota Camry will be a few of the cheaper vehicles to insure for drivers with no prior coverage.
Finding good, budget car insurance is confusing at best, and determining which company quotes the cheapest insurance rates for uninsured drivers may require a little more work. Each insurer has a different process for filing rates in each state, so we’ll take a look at the insurance companies that tend to be cheaper in Anchorage.
Find Cheaper Auto Insurance in Alaska
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Umialik | $865 |
| 2 | USAA | $957 |
| 3 | State Farm | $965 |
| 4 | Progressive | $1,260 |
| 5 | GEICO | $1,905 |
| 6 | Allstate | $2,397 |
| 7 | Safeco | $2,426 |
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Umialik has some of the best car insurance rates in Anchorage at around $865 each year. This is $678 less than the average rate paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO also make the cut as some of the most economical Anchorage, AK insurance companies.
As shown in the table above, if you buy coverage from GEICO and switched to USAA, you might realize a yearly savings of in the vicinity of $948. Policyholders with Allstate could save as much as $1,440 a year, and Safeco policyholders might realize rate reductions of up to $1,469 a year.
To find out how your current rates compare, click here to get quotes or visit any of the companies below.
Remember that these estimates are averaged for all types of insureds and vehicles and and are not figured with a specific location for uninsured drivers. So the auto insurance company that can offer you the best rate may not even be in the list above. That point stresses why you need to get car insurance quotes using your own driver and vehicle profiles.
Ratings for Alaska insurance companies
Picking the top company can be difficult considering how many choices drivers have in Anchorage. The company rank data shown next may help you pick which auto insurers you want to consider when trying find the best insurance for uninsured drivers.
These ratings are for the largest auto insurers in America, so companies that have a smaller presence are not included in these rankings. To compare prices and find the cheapest rates for uninsured drivers, follow this link.
Top 10 Large Auto Insurance Providers in Anchorage Ranked by Claims Service
- State Farm
- Esurance
- AAA Insurance
- Progressive
- GEICO
- Liberty Mutual
- Allstate
- The Hartford
- The General
- Farmers Insurance
Top 10 Large Auto Insurance Providers Overall in Anchorage
- USAA
- American Family
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- The General
- Progressive
- Allstate
- Liberty Mutual
Full coverage rates compared to liability-only
Reducing the cost of insurance should be important to most people, and a great way to save on the cost of insurance for uninsured drivers is to only pay for liability coverage. The diagram below illustrates the comparison of insurance costs with liability coverage only compared to full coverage. The rates are based on a clean driving record, no claims, $500 deductibles, drivers are single, and no additional discounts are factored in.
If we average all the age groups together, comp and collision coverage costs an extra $1,288 per year more than carrying just liability coverage. That is a large expense which might make you wonder if physical damage coverage is worth the money. There is no clear-cut formula to delete full coverage on your policy, but there is a general school of thought. If the annual cost of having full coverage is 10% or more of the replacement cost minus the deductible, then it may be the right time to buy liability only.
For example, let’s pretend your vehicle’s claim settlement value is $4,500 and you have $1,000 full coverage deductibles. If your vehicle is severely damaged, you would only receive $3,500 after paying the physical damage deductible. If you are paying in excess of $350 annually for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
The illustration below highlights how deductible choice can change insurance rates when searching for cheap insurance for uninsured drivers. The premiums are based on a single male driver, comprehensive and collision coverage, and no other discounts are factored in.
As shown above, a 30-year-old driver could save $252 a year by changing from a $100 deductible up to a $500 deductible, or save $380 by switching to a $1,000 deductible. Even younger drivers, like the 20-year-old example, can cut up to $732 or more just by choosing larger deductibles. If you make the decision to raise deductibles, it will be important to have additional funds squirreled away to enable you to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.
How to find budget-friendly auto insurance for uninsured drivers
Below you’ll find some of the recommended penny-pinching ideas that can help drivers locate cheaper auto insurance.
- Assess whether full coverage is needed
- Avoid speeding and other traffic citations and pay less
- Try to not file small claims
- Staying accident-free helps keep rates low
- Increase deductibles to save money
- Shop around once a year for cheaper rates
That last piece of advice is extraordinarily critical, as we emphasized in the article above. Insurance prices in Anchorage fluctuate constantly, so drivers shouldn’t be reluctant to switch companies if a better rate can be found.
Being loyal to a particular company is commendable, but it’s not a great idea if it’s costing you lots of money. Spend a few minutes and shop around to find cheaper insurance for uninsured drivers.
If you would rather have some advice when buying car insurance for drivers with no prior coverage, the agents below are a good start to aid you in deciding which policy is best. To locate an agency by location nearest to you, click the link after the list or click here to get price quotes now.
- Alaskan General Insurance
1400 W Benson Blvd # 500 – Anchorage, AK 99503 – (907) 297-4500 - Marsh Mc Lennan Agency
1031 W 4th Ave #400 – Anchorage, AK 99501 – (907) 276-5617 - Associated Insurance Services
7125 Old Seward Hwy #203 – Anchorage, AK 99518 – (907) 349-2229