The type of vehicle that is being insured is a significant factor that determines whether or not you can buy the most affordable auto insurance for state employees. Vehicles with more horsepower, a lack of advanced safety features, or a history of substantial liability claims will cost quite a bit more to insure than safer, lower-performance models.
The table below features insurance costs for a selection of the most economical automobiles to insure.
| Vehicle | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX-L 4WD | $1,353 |
| Volkswagen Jetta S 2.5 Station Wagon | $1,439 |
| Honda Accord LX 4-Dr Sedan | $1,499 |
| Ford Escape Limited 2WD | $1,538 |
| Toyota Tacoma Double Cab 4WD | $1,572 |
| Chevrolet Malibu LT | $1,603 |
| Ford Explorer Eddie Bauer AWD | $1,610 |
| Honda Odyssey EX-L W/Navigation | $1,657 |
| Chevrolet Impala LTZ | $1,667 |
| Toyota Camry XLE | $1,657 |
| Ford Edge Sport AWD | $1,664 |
| Toyota Prius | $1,660 |
| Nissan Rogue S AWD | $1,683 |
| Ford Focus SE 4-Dr Sedan | $1,689 |
| Ford F-350 Super Cab Cabela Package 2WD | $1,717 |
| Ford F-150 FX4 Super Cab 4WD | $1,759 |
| Dodge Grand Caravan Hero | $1,772 |
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Table data assumes single male driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Alaska minimum liability limits. Discounts applied include safe-driver, multi-vehicle, multi-policy, homeowner, and claim-free. Estimates do not factor in Anchorage, AK location which can impact prices noticeably.
Based upon these rates, we can expect models like the Honda CR-V, Volkswagen Jetta, Honda Accord, and Ford Escape are most likely going to be the more affordable vehicles to insure for state workers.
Finding out which companies quote the cheapest car insurance rates for state employees calls for more work in order to find the lowest price quote. Each auto insurance company has a different process for setting rates, so let’s take a look at the most budget-friendly car insurance companies in Anchorage.
It’s important that you understand Alaska car insurance rates are calculated based on many things that will increase or decrease the price you have to pay. Turning one year older, buying another vehicle, or getting a ticket for careless driving can trigger changes in premium that can now make some companies more affordable than competitors.
Best Auto Insurance Prices in Alaska
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Umialik | $865 |
| 2 | USAA | $957 |
| 3 | State Farm | $995 |
| 4 | Progressive | $1,223 |
| 5 | GEICO | $1,905 |
| 6 | Allstate | $2,397 |
| 7 | Safeco | $2,451 |
| Find Your Rate Go | ||
Umialik offers some of the best car insurance rates in Anchorage at around $865 per year. USAA, State Farm, Progressive, and GEICO would also be considered some of the lowest-priced Anchorage, AK car insurance companies.
In this example, if you have coverage with Progressive and switched to USAA, you may realize an annual premium reduction of in the neighborhood of $266. Drivers with GEICO could save as much as $948 a year, and Allstate customers might cut rates by $1,440 a year.
If you would like to find cheaper car insurance rates, click here or visit several of the following companies.
Remember that these policy prices are averages for all drivers and vehicles in Alaska and and are not figured with a vehicle location for state employees. So the insurer that fits your age and vehicle best may not even be in the list above. That underscores the importance of why you need to get rate quotes from many companies using your own driver and vehicle profiles.
For state workers, one of the big considerations that aid in calculating the amount you pay for auto insurance is where you keep your vehicle. Areas with more people or even just a higher incidence of claims will most likely have higher rates, whereas areas with less crime or weather claims benefit from lower coverage costs.
The illustration below lists the priciest cities in Alaska for state employees to purchase auto insurance in. Anchorage makes the list at #5 having an annual price of $1,256 for coverage, which is about $105 per month.
| Rank | City | Annual Premium |
|---|---|---|
| 1 | Palmer | $1,304 |
| 2 | Meadow Lakes | $1,291 |
| 3 | College | $1,270 |
| 4 | Wasilla | $1,266 |
| 5 | Anchorage | $1,256 |
| 6 | Fairbanks | $1,234 |
| 7 | Sterling | $1,226 |
| 8 | Homer | $1,202 |
| 9 | Kenai | $1,202 |
| 10 | Nikiski | $1,190 |
| 11 | Kodiak | $1,155 |
| 12 | Ketchikan | $1,035 |
| 13 | Juneau | $979 |
| 14 | Sitka | $967 |
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Price information shown is comparative as the specific Anchorage residence address can affect rates considerably.
Discount Anchorage auto insurance rates
Car insurance companies that offer coverage for state employees may also provide discounts that could reduce prices by as much as 25% or more if you meet eligibility requirements. A few of the larger companies and some of the premium reductions they offer are outlined below.
- State Farm has discounts for multiple autos, accident-free, Drive Safe & Save, passive restraint, good driver, multiple policy, and Steer Clear safe driver discount.
- GEICO may offer discounts for anti-theft, driver training, defensive driver, membership and employees, and military active duty.
- Allstate offers premium reductions for FullPay discount, new car, eSmart discount, EZ pay plan discount, good student, premier plus, and premier discount.
- SAFECO has savings for homeowner, bundle discounts, accident prevention training, teen safe driver, multi-car, and drive less.
- Farm Bureau may have discounts that include renewal discount, safe driver, 55 and retired, driver training, and good student.
- Progressive offers discounts including homeowner, online quote discount, continuous coverage, multi-policy, good student, and online signing.
- AAA discounts include anti-theft, good driver, good student, AAA membership discount, multi-car, and multi-policy.
The example below visualizes the comparison of insurance rates with and without discounts applied. The premiums assume a female driver, a clean driving record, no at-fault accidents, Alaska state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles.
The first bar for each age group shows the price with no discounts. The second shows the rates with passive restraint, defensive driving course, accident-free, marriage, claim-free, and anti-theft discounts applied. When these discounts are applied to the policy premium, the average amount saved each year on car insurance for state employees is 28% or $305.
Does it make sense to buy full coverage?
Paying a lower price for car insurance should be important to most vehicle owners, and one of the best ways to buy cheaper insurance for state employees is to not buy full coverage. The chart below shows the comparison of insurance rates with and without full coverage. The rate quotes are based on no tickets, no at-fault accidents, $100 deductibles, single marital status, and no additional discounts are factored in.
If the expense is averaged for all age categories, physical damage coverage on your policy costs an additional $1,566 per year more than buying just liability insurance. Many people question if buying full coverage is a good investment. There isn’t a steadfast formula for excluding physical damage insurance, but there is a broad guideline. If the annual cost of comprehensive and collision coverage is more than around 10% of the replacement cost minus the deductible, then you might want to consider buying only liability coverage.
For example, let’s pretend your vehicle’s claim settlement value is $12,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company would pay you is $11,000 after paying your deductible. If it’s costing you more than $1,100 annually for comprehensive and collision coverage, the it may be a good time to stop paying for full coverage.
A good deal can quickly turn bad
Anchorage, AK car insurance rates are impacted by many things that will increase or decrease the cost of your policy. Simply turning a year older, buying a different home, or getting a few speeding tickets can cause premium changes that can now make some companies more affordable than the competition.
Not only may things change on your end, but insurers modify rates without warning in order to protect their financial rating. A period of higher than normal claims can cause additional price hikes, while a better loss history can produce cheaper Anchorage car insurance rates.
For example, the data below shows the cheapest car insurance in Anchorage, AK for a 30-year-old male driver with a clear driving record, no claims, and a good credit history. If we estimate prices based on his current situation, Umialik might offer the lowest car insurance rates in Anchorage at $1,158 each year. This is $385 less than the average price paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO are also on the list of the cheapest Anchorage, AK auto insurance companies.
Now we will pretend the driver in the first chart an at-fault accident, slightly worse credit, and a few traffic violations. Due to the fact that every auto insurer has their own formula to set policy rates, comparing insurance quotes may result in a different list of affordable companies as shown below.
USAA now has the cheapest insurance rate in Anchorage, AK with State Farm, Umialik, Progressive, and Safeco now being in the top five. This shows why drivers need to compare lots of rates to find the most affordable car insurance rates for state employees. Car insurance prices consist of many factors and change substantially, so the lowest-price company the last time you shopped around may now be priced much higher than other options.