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Are you looking for auto insurance in Fairbanks, AK? At CheapCarInsuranceinc.com, you can easily find the best insurance rates in your city. To find free car insurance quotes from the major providers today, key your zip code into the quote box on this page.
Although Fairbanks is only the second largest city in Alaska, it best represents what most people think of when the State of Alaska comes to mind. It possesses a good mix of both modern culture and the independent frontier spirit that founded the city. Sitting atop the northernmost latitude of any US city, Fairbanks experiences nearly continuous daylight from May to July, and nearly six months of winter snow in the colder part of the year.
Fun fact: Did you know that Fairbanks is #14 on the list of “Top 101 cities with the largest temperature differences during a year? Learn more about Fairbanks here.
For Alaska drivers, you must purchase at least this much coverage in order to drive legally:
| Coverage | Requirements | Most Common |
| Liability Bodily Injury | 50,000/100,000 | 100,000/300,000 |
| Liability Property Damage | 30,000 | 60,000 |
| Bodily Injury - Motorist Uninsured | Not required | 50,000/0130,000 |
| Not required Coverage | Medical Payments Coverage | 5,000 |
| Collision Coverage | Not required Coverage | 700 Insurance deductible |
| Comprehensive Coverage | Not required Insurance | 300 deductible |
Remember that although purchasing less coverage might seem like a better deal, it could cost you in the long run. Liability insurance, for example, is extremely limited. It only covers you in the event that you cause an accident. So if someone else hits you, or severe whether damages your car, you’ll have to fix your vehicle 100% out-of-pocket.
For some drivers, the Alaska state average monthly insurance payment is around $129. However, with the right provider and a good driving record, you could get it for as low as $31/mo* in Fairbanks. But that all depends on a number of different elements. Comparing cheap Alaska auto insurance is your best method for finding a great deal.
It seems as though Nationwide is providing some of the lowest available rates in Fairbanks right now. But how do they rank in overall customer service? Is their claims filing process easy and user-friendly? If not, then forking out a low monthly rate might not be the best value in the long run.
Auto insurance providers contemplate multiple variables when figuring out insurance quotes, including geography, zip code, credit score, occupation, and current insurance coverage and limits. Additionally, premiums differ from provider to provider. To find out whether you’re still getting the most affordable rate, compare cheap Fairbanks auto insurance quotes online.
Insurance companies take multiple elements into account when crafting an auto insurance policy. Regrettably, a number of these variables are hard or impossible to modify, such as your gender or how long you’ve been driving. Other elements your car insurance company may consider include:
The cheapest car insurance is usually found in cities with a lower population density. Because there are fewer vehicles on the road, there are fewer possibilities for you to get into a major car accident with another driver. The population of Fairbanks is 32,324 and the median household income is $54,694.
As the chart shows, Deadly accidents for 2013 were very low for Fairbanks, AK. This means that insurance providers in your area aren’t likely to inflate their rates due to hazardous driving conditions. You may even be receiving a lower-than-average premium based on accident statistics across the country.
Auto theft is a major problem, especially in densely populated cities. If your location and/or vehicle model put you at a greater risk for theft, you may have trouble finding low-cost car insurance. The total number of stolen vehicles in Fairbanks was 103 in 2013. While that may seem low, remember to take the small population of Fairbanks into account. For those who are concerned about auto theft, adding Comprehensive coverage to your policy will protect you in case your vehicle is vandalized or stolen. However, it will raise your rates.
For most insurance companies, especially the large national ones, having a low credit score means you can expect to pay 50-75% higher premiums each month. However, local providers (such as Umialik) often provide coverage for an affordable price, regardless of credit score.
Studies have shown that inexperienced teenage drivers are more likely to get into an accident than older adults. Because of this, it costs much more to purchase Automobile insurance for Teenage motorists. If you are a teenager, ask your provider about Drivers Ed or Good Student discounts.
If you can keep a clean driving record, you can secure the lowest possible rate on your Automobile insurance policy. Regrettably, the more violations you add to your record, the more expensive your insurance will become. You may even lose your coverage completely depending on your provider, and the severity of the violations.
Luxury vehicles are, naturally, more expensive to insure. They are more expensive to repair, they require that you purchase a more comprehensive policy, and they are more likely to be stolen by thieves. Compact, fuel-efficient sedans, on the other hand, are much less expensive to insure.
Did you know that many of the elements below can have an impact, however small, on your monthly rate? It’s true:
If you are insuring yourself as an individual, there is very little difference between costs for single vs. married motorists. However, married couples can save a lot of money by taking advantage of bundling discounts. You can bundle your auto policies together, add your homeowner’s insurance, and more.
Insurance company data shows that there really isn’t a big difference in risk from one gender to another. Most major providers don’t even charge different rates based on gender anymore. However, the few companies that still do only charge about a 2-3% difference. And whether or not that difference punishes males or females largely depends on the company providing the policy.
Most workers in Fairbanks only have a 10-15 minute driving commute. Nearly 20% of drivers choose to carpool to work, while more than 60% get to work by driving their own car by themselves.
Feel free to drive as many miles as you want per year, and for whatever reason – driving more miles, or only commuting for pleasure won’t make a huge dent in your monthly premium. However, business vehicles generally have about 10% higher insurance rates, so be wary of that fact.
Want to save money on your insurance each month? Try raising your deductible. A higher deductible means you will be charged lower monthly premiums by your insurance company. However, it also means that your repairs will be more expensive if the worst occurs.
It’s common knowledge that the more education you have, the more you can save on car insurance. In Fairbanks, the average motorist has either a high school diploma or at least a year of college under their belt. It doesn’t matter if you have a good job or a high salary – if you don’t have a college degree or better, you could end up forking out more for your Automobile insurance.
Though seemingly remote, Fairbanks is home to the major public university UAF (University of Alaska Fairbanks). You can get a variety of degrees from this university, ranging from a simple bachelor’s to a master’s or even a doctorate. The university instructs its students in a wide variety of subjects with particular emphasis on engineering and natural sciences.
Regrettably for most insurance companies, a simple internet search can reveal many of their trade secrets. But even with the proper information, it can still be confusing for you as an individual to figure out your risk profile and find low-cost insurance. Make sure you do your due diligence before you commit to your next car insurance policy.
Sources:
Alaska Department of Financial Institutions
Department of Highway Safety and Motor Vehicles
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