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Key Takeaways

  • The cheapest car insurance quotes found in Fairbanks, AK, is Safeco
  • The most expensive Fairbank car insurance rates for young drivers are from Progressive
  • com aims to make car insurance comparison easier by providing reliable quotes from more than 200 of the industry's best insurance companies.

How much does car insurance cost in Fairbanks?

The average yearly cost of car insurance in Fairbanks, AK, is $1449. That works out to roughly $123 a month for auto insurance.

Way.com is an amazing app for auto owners and your key to optimum insurance. With Way.com, you will uncover the finest coverage alternatives for your Fairbank car insurance rates!

Fairbanks rates vs Alaska and National Average

Fairbanks is mostly independent of the state in how it runs its affairs as a home rule city. After Anchorage, this city is the state's largest, coldest, and second-most populous. Due to all these issues, finding affordable auto insurance can be difficult and complex.

Fairbanks Average (annual) Alaska Average United States Average
$1449 $1440 $1557

Fairbanks Auto Insurance Premiums by Company

Nobody in Fairbanks can get the best deal from a single company. The best course of action is to compare rates from various carriers, especially if you've recently moved or want to maximize your coverage. Sound tiresome? You can obtain the best coverage while saving time and money with the Way.com app, which can do the task quickly.

Insurance Company Average Rate (annual)
Safeco $1512
Allstate $3009
Progressive $3237
State Farm $2529
USAA $2628

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Fairbanks Auto Insurance Premiums by Age Group

It is a common knowledge that insurance companies frequently stereotype young people.

That's because age is a risk indicator used by insurance companies. Young drivers typically have higher rates than older drivers because insurance providers view them as having less experience and more likely to file claims, which costs them money.

Of course, you know you won't suddenly become a safer driver when you turn 25. Perhaps even the safest driver you know is you! However, it won't prevent insurance firms from charging you a hefty amount.

Age tier Average Yearly Rate
20s $2172
30s $1737
60s $1593

Fairbanks Auto Insurance Premiums by Marital Status

Marital status affects auto insurance prices in Fairbanks, Alaska.

Marital Status Average Annual Rate
Single $1335
Married $1203
Divorced $1470
Widowed $1431

Fairbanks Auto Insurance Premiums by Gender

Gender plays an important role in determining your car insurance rates for the year.

Gender Average Annual Rate
Female $1587
Male $1608

Fairbanks Auto Insurance Premiums by Driving Record

No matter the circumstances surrounding your fines, even minor traffic infractions can significantly raise your insurance price, particularly if they occur repeatedly. Additionally, your insurance provider may classify you as a "high-risk driver" after just one serious infraction (such as a DUI). Worst of all, even if you've changed your ways and behave while driving, that stigma may stick with you for years in some circumstances.

The role of Way.com is now clear. Even if you have a less-than-stellar driving history (like, really less-than-stellar), there are still ways to get the policy you need by maximizing your rates and coverage.

Incident/Violation Average Yearly Rate
DUI/DWI $3120
Reckless Driving $3054
At-fault Accident $3117
Speeding Ticket $2751

Fairbanks Auto Insurance by Credit Rating

The price of auto insurance can be significantly influenced by credit history. According to credit history, compare the annual rates for auto insurance in Fairbanks, Alaska.

Credit Score Average Yearly Rate
Very Poor $3540
Fair $2652
Good $2361
Very Good $2178
Exceptional $2067

Fairbanks Auto Insurance by ZIP Code

By ZIP code, auto insurance costs in Fairbanks, Alaska, can differ. In order to determine how geography affects auto insurance prices, compare the annual cost of auto insurance by ZIP code in Fairbanks, Alaska.

Your rate may differ not just from state to state or city to city but even from block to block due to state laws and risk assessments linked with zip codes. Finding the optimal coverage becomes difficult when so many variables are at play.

Zip Code Annual Premiums
99701 $2901
99712 $2892
99790 $2892

What would increase your car insurance rate in Fairbanks?

Car insurance rates within the same state can vary greatly depending on your zip code. In addition, your city's demographics, such as population density, average age, and accident rate, will determine whether your vehicle insurance rates are much higher or lower than those in a nearby city.

Let's examine the factors contributing to Fairbanks' high cost of auto insurance.

Make sure you have compared rates from many providers before purchasing car insurance in Fairbanks, AK. Enter your ZIP code to obtain cost-free Fairbanks, Alaska, auto insurance quotes.

Auto theft statistics in Fairbanks

One of the country's highest auto theft rates is in the Alaskan metropolis of Fairbanks. According to FBI statistics, there were 212 auto thefts in the metro region in 2020, or 644 per 100,000 people, much higher than the national rate of 246 per 100,000 people for auto theft.

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Auto insurance requirements in Fairbanks

So how much auto insurance is needed in Fairbanks?

Fairbanks requires a minimum of $50,000 in bodily injury liability per person, $100,000 in bodily injury liability per accident, and $25,000 in property liability per accident for insurance coverage. The 50/100/25 rule refers to these base needs.

You must present your license, registration, and evidence of insurance coverage if an officer pulls you over. Additionally, registration of a car requires proof of insurance.

Fairbanks is an at-fault city. Financial compensation for third parties is the responsibility of the party who caused the car accident, typically through their insurance. Parties might also share some of the blame.

But those are merely the bare minimums that must be met to avoid a violation. In addition, if you are involved in an accident, your state-required insurance may not be enough to cover all of your costs, particularly if you or anybody else in your car is hurt or your automobile suffers major damage.

Because of this, experts typically advise carrying more coverage than is strictly necessary. Liability coverage, collision coverage, comprehensive coverage, and uninsured/underinsured motorist coverage are often included in so-called "full-coverage" policies, as was previously indicated.

You can look into unique add-ons to supplement that coverage tailored to your needs, car, and circumstance. For example, do you frequently travel on secluded backroads? You might be able to escape a sticky situation with towing and labor coverage. Work for a ride-sharing business? Don't forget to purchase rideshare insurance. You can even purchase specific insurance if your car has a high-end audio system.

Accidents Statistics in Fairbanks

In 2016, 84 people died in car accidents in Alaska. In comparison, 65 people died in car accidents in 2015, 73 in 2014, 51 in 2013, and 59 in 2012. Car accidents caused 301 serious injuries in 2014, down from 399 in 2013, 359 in 2012, 404 in 2011, and 463 in 2010. In 2014, there were 4,315 minor injuries brought on by car accidents. There were 4,525 of them in 2013, 4,127 in 2012, 4,147 in 2011, and 4,566 in 2010. 11.18 people died in auto accidents for every 100,000 residents in Alaska in 2016. A little over 38% of fatal car accidents involved alcohol.

In Fairbanks, six fatalities from car accidents in 2017, compared to seven in 2016. Two of the fatalities resulting from car accidents each year were caused by drunk drivers. In a Fairbanks automobile accident in 2017, one pedestrian died while there were none in 2016.

The following places are where the fatal accidents in Fairbanks in 2017 took place:

  • Sr-3 Parks Hwy
  • Van Horn and Peger Drive
  • Davis Road
  • Chena Hot Springs Road

The following places are where the fatal accidents in Fairbanks in 2016 took place:

  • Goldstream Road
  • Sr-2 Richardson Highway
  • East Cowles Street and 21st Avenue
  • Johansen Expressway
  • Chena Hot Springs Road
  • Grange Hall Road
  • Sr-6, Steese Highway

Tips for Driving Safely in Fairbanks

Cities with longer commute times for drivers typically have higher auto insurance costs. For example, in Fairbanks, Alaska, the commute takes 13.5 minutes on average.

  • Fairbanks' winter roads will be covered in ice and snow. Reduce your speed and widen the space between you and the car in front of you.
  • Make sure everyone on the road can see you, especially if you're driving a typical white or silver rental car.
  • Take a few seconds to ensure that cross traffic stops before entering an intersection on a green light if you're the first, second, or third car.
  • Since warm cars linger there and idle, intersection approaches on major streets frequently have the slickest pavement. So as you approach an intersection with a yellow light, keep that in mind.
  • If you're not properly dressed, hypothermia can develop at -30 degrees Fahrenheit in less than ten minutes. Have winter clothing on or accessible in your car. Please put it on before leaving your automobile's comfort in case of emergency. A good generalization is to be able to walk a mile for assistance. It would be worthwhile to bring or buy a sleeping bag for each passenger if your vacation involves traveling more than a few miles from town.
  • On clear days, the sun, which in the winter hovers near the southern horizon, can be blinding if you're traveling in that direction. It might be too low for your car's visors to cover. A nice pair of sunglasses might improve visibility when traveling south.
  • In Fairbanks, it's customary to keep your tank half full throughout the winter. However, check your gas gauge every time you get in because often, warming up a car might deplete your reserve.

Driving Conditions in Fairbanks, Alaska

  • Average Cloud Cover - 77%
  • Max Wind Gusts - 13 km/h

Auto Insurance Data Methodology

The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.

Quotes are typically based on a full coverage policy average unless otherwise noted within the content.

These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com

FAQs

How much is car insurance in Fairbanks, Alaska?

For minimum coverage, Fairbanks drivers pay about $402 per year. A driver in Fairbanks will have to shell out $1449 per year for full coverage.

How much car insurance do I need in Fairbanks, Alaska?

You must have the bare minimum of the following insurance coverages before you drive: $50,000 per person and $100,000 per accident for bodily injury liability. Liability for property damage is $25,000

Does insurance follow the car or the driver in Alaska?

In Alaska, auto insurance frequently follows the car. Bodily injury liability, personal injury liability, collision, and comprehensive are the many kinds of auto insurance that follow the car in Alaska. In Alaska, you must carry property damage and personal injury liability insurance.

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Learn more by city and state for car insurance




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