The car, truck, or SUV you are trying to insure is a significant factor when looking for low-cost car insurance for good students. Vehicles with more horsepower, a lack of advanced safety features, or high incidents of liability claims will cost quite a bit more to insure than more economical and safe models. The list below shows coverage prices for the most economical vehicles to buy coverage for.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V LX 2WD | $4,817 |
| Honda Accord LX 4-Dr Sedan | $4,824 |
| Ford Escape XLT 4WD | $4,863 |
| Toyota Prius | $5,216 |
| Honda Odyssey LX | $5,364 |
| Ford Explorer XLT 2WD | $5,410 |
| Volkswagen Jetta 2.0T Station Wagon | $5,519 |
| Jeep Grand Cherokee Laredo 2WD | $5,716 |
| Toyota Camry LE | $5,721 |
| Toyota RAV4 Sport 2WD | $5,716 |
| Chevrolet Equinox LS 2WD | $5,725 |
| Chevrolet Malibu LS | $5,716 |
| Dodge Grand Caravan SXT | $5,763 |
| Ford F-150 Lariat Super Cab 2WD | $5,768 |
| Dodge Ram 3500 Crew Cab Laramie 2WD | $5,763 |
| Hyundai Elantra Blue 4-Dr Sedan | $5,973 |
| Ford Edge Sport AWD | $6,020 |
| Toyota Corolla S | $6,026 |
| Toyota Tacoma X-Runner 2WD | $6,020 |
| Chevrolet Impala LTZ | $6,027 |
| Chevrolet Silverado LTZ Crew Cab 4WD | $6,066 |
| Honda Civic Hybrid 4-Dr Sedan | $6,073 |
| Ford Fusion SEL 4-Dr Sedan | $6,066 |
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Cost estimates assume single female driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Alaska minimum liability limits. Discounts applied include safe-driver, and claim-free. Prices do not factor in specific location which can revise insurance rates greatly.
Based upon these rates, we can infer that makes and models like the Honda CR-V, Honda Accord, Ford Escape, and Toyota Prius are most likely going to be the most affordable vehicles to insure for student drivers.
Determining which insurers offer the cheapest car insurance rates for good students calls for a tad more effort in order to find the most economical policy. Each auto insurance company has a proprietary formula for setting prices, so we’ll take a look at the lowest cost car insurance companies in Anchorage.
Find Cheaper Car Insurance for Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Umialik | $874 |
| 2 | USAA | $929 |
| 3 | State Farm | $1,005 |
| 4 | Progressive | $1,247 |
| 5 | GEICO | $1,962 |
| 6 | Allstate | $2,397 |
| 7 | Safeco | $2,501 |
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Umialik normally has some of the lowest car insurance rates in Anchorage at around $874 each year. USAA, State Farm, Progressive, and GEICO also are some of the best Anchorage, AK insurance companies.
As the example above demonstrates, if you currently buy coverage from Progressive and switched to Umialik, you could see savings of roughly $373. Alaska drivers with GEICO could save as much as $1,088 a year, and Allstate policyholders might cut rates by $1,523 a year.
To compare your rates to other Alaska insurance companies, click here to begin a quote or visit any of the companies below.
These rates are averages across all ages of drivers and types of vehicles and and are not figured with a specific location for good students. So the car insurance company that can offer you the best price may not even be in the list above. That’s why you need to quote rates from many companies using your own driver data and vehicle information.
One of the many components that are looked at to help calculate the annual cost of car insurance is where you live. More populated areas tend to have more expensive auto insurance rates, whereas areas with lower crime rates and fewer weather claims benefit from lower rates.
The following table ranks the most costly cities in Alaska for good students to buy car insurance in. Anchorage is ranked at #1 with an annual rate of $1,295 for the average policy, which is about $108 monthly.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Anchorage | $1,295 |
| 2 | Fairbanks | $1,272 |
| 3 | College | $1,270 |
| 4 | Palmer | $1,265 |
| 5 | Meadow Lakes | $1,265 |
| 6 | Wasilla | $1,228 |
| 7 | Kenai | $1,202 |
| 8 | Homer | $1,190 |
| 9 | Nikiski | $1,190 |
| 10 | Sterling | $1,190 |
| 11 | Kodiak | $1,167 |
| 12 | Ketchikan | $1,035 |
| 13 | Juneau | $999 |
| 14 | Sitka | $997 |
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Table data uses approximated as the specific geographic location can change prices substantially.
Choosing a high-quality company can be a challenge considering how many choices there are in Alaska. The information shown below could help you pick which coverage providers you want to consider when comparing insurance rates for good students. The ratings below are for companies that insure vehicles nationwide, so companies without a large exposure are not included in these rankings.
Top 10 Major Car Insurance Companies in Anchorage Ranked by Customer Service
- State Farm
- GEICO
- The Hartford
- Progressive
- The General
- Allstate
- American Family
- AAA Insurance
- Liberty Mutual
- Farmers Insurance
Top 10 Major Car Insurance Companies in Anchorage Ranked by Customer Satisfaction
- USAA – 94%
- AAA Insurance – 91%
- State Farm – 90%
- GEICO – 89%
- The Hartford – 89%
- The General – 88%
- 21st Century – 88%
- Allstate – 88%
- Liberty Mutual – 88%
- Esurance – 87%
The diagram below illustrates how choosing a deductible can change annual premium costs when getting quotes for cheap insurance for good students. The data is based on a single female driver, comprehensive and collision coverage, and no discounts are applied to the premium.
The chart above illustrates that a 50-year-old driver could save $300 a year by increasing from a $100 deductible to a $500 deductible, or save $454 by choosing a $1,000 deductible. Younger drivers, like the age 20 example, can save up to $768 every year by selecting a higher deductible.
When using a larger deductible, it will be required to have enough spare savings to allow you to pay the extra out-of-pocket expense. That is the one disadvantage of using higher deductibles.
You may be paying too much for car insurance
Alaska car insurance rates are calculated based on many things which can substantially change your annual premium. Simply having a birthday, getting divorced, or getting into an accident may prompt premium changes that may make certain companies cheaper than competitors.
Not only that, but auto insurance companies file new rates without warning to ensure their profitability. A period of increased losses may cause additional premium costs, while lower claim levels can produce cheaper Anchorage car insurance rates.
The graph below shows the company with the cheapest car insurance in Anchorage, AK for a 45-year-old male driver with no accidents, a clean driving record, and a good credit history. If we compare prices based on his current risk profile, Umialik has the cheapest car insurance rates in Anchorage at $1,133 annually. This is $410 less than the average rate paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO are the remaining cheapest Anchorage, AK auto insurance companies.
In this example, we will give the driver from the first example a claim, bad credit, and a blemish on his driving record. Due to the fact that every auto insurer has their own process to determine rates, comparing insurance quotes may now present a substantially altered list of affordable Anchorage car insurance companies as shown below.
USAA now has the lowest price in Anchorage, AK with State Farm, Umialik, Progressive, and Safeco now being in the top five. This example shows why drivers need to perform a complete rate comparison when trying to find the cheapest auto insurance rates for good students.
Auto insurance prices are influenced by many risk factors and can decrease or increase without notice, so the cheapest rate a year ago may now be one of the more expensive options.