We provide free online auto insurance quotes for Alaska drivers. It may be cold outside, but the rates we show you are the hottest from the most respected companies. Ok. We’re sorry about the weather joke but we assure you that lower prices won’t be found anywhere else for your vehicles.
Like most states, owners of motor vehicles must have liability coverage. The lowest level of protection allowed is $50,000 of bodily injury per person, $100,000 per occurrence and $25,000 for damage to property. These figures are among the highest in the US. For example, many states only require $12,500 of benefits per person. For this reason, most drivers in Alaska maintain solid coverage.
However, the Last Frontier state makes exceptions for this law if you are not required to register your vehicle. And there are many areas that qualify for this exemption. Although they are too numerous to mention all of them, some of the areas include: Rampart, Medfra, Galena, Adak, Point Hope, Arctic Village and Fort Yukon. An exception would be if you received a 6-point violation in the last five years.
It’s A Big State!
Of course, Alaska is a very unique state with the largest land area of any state, but yet the fourth least populated state as well. So, naturally, it presents a challenge to auto insurance companies to underwrite policies and determine what competitive prices should be. Roads cover only a small portion of the state and often they are snow-covered,leading to accidents.
In the last year of data researched regarding traffic, there were more than 35 accidents (on average) per day and more than one death per week. Crashes reported by the Department of Transportation were up 10% and the vast majority involved no other vehicles. So quite possibly, road conditions played a large factor. Also, in two out of five fatalities, drinking or drugs were involved.
So, what does that mean? Insurers such as Progressive, Farmers, Nationwide and other big companies have to take into account the number of incidences (from a historic perspective) along with evaluating the risk these figures have on possible future driving. Naturally, if you live in an area were there are fewer accidents, then you will be rewarded with lower premiums.
Although we research thousands of scenarios, for this one, we assumed a married husband and wife (both 35 years-old) that live in Anchorage. They have clean records and own a 2011 Honda CRV. It is driven five miles to work every day and the current liability limits are $100,000 per occurrence with $500 collision and comprehensive deductibles. We also included uninsured motorist and medical payments benefits.
The average 6-month premium was approximately $570 with an option to pay monthly payments of approximately $105. The most competitive offers were from Progressive and State Farm although other carriers were very close. Some of the more competitive offers came from Hartford, Amica, Liberty Mutual and Nationwide.
By lowering the deductibles to $250, the rate increased to $117. By electing state minimum limits and no physical damage coverage, the monthly cost plummets to about $42, a substantial savings. However, if the car is financed, physical damage will be required. And leased vehicles may require both high liability benefits and lower deductibles.
We’re here to help you find the most savings possible on your Alaska auto insurance policy. Our unique combination of experience, familiarity with the state and access to the major carriers should help you find low prices.