The recommended way to get budget auto insurance rates is to start comparing prices regularly from providers who can sell car insurance in Anchorage.
- First, spend a few minutes and learn about the different coverages in a policy and the factors you can control to prevent expensive coverage. Many risk factors that drive up the price like traffic violations, accidents, and poor credit history can be amended by making lifestyle changes or driving safer.
- Second, request price quotes from direct, independent, and exclusive agents. Direct companies and exclusive agencies can give quotes from a single company like Progressive and State Farm, while independent agents can quote rates from multiple sources.
- Third, compare the new rate quotes to your existing rates and see if there is a cheaper rate in Anchorage. If you find a lower rate quote and buy the policy, make sure coverage is continuous and does not lapse.
- Fourth, give proper notification to your current agent or company to cancel your current coverage and submit a down payment along with a completed application to the new insurer. Once coverage is bound, safely store the certificate of insurance in your vehicle.
One important bit of advice is to use identical deductibles and limits on every quote request and and to compare as many carriers as you can. This enables an accurate price comparison and the best rate selection.
We don’t have to point out that fact that insurance companies don’t want you to look for cheaper rates. Insureds who shop for lower prices will most likely buy a different policy because there is a high probability of finding a policy with more affordable rates. A study showed that drivers who regularly shopped around saved an average of $850 each year compared to other drivers who never shopped around for cheaper prices.
If finding budget-friendly auto insurance is why you’re here, then learning about how to choose a company and compare insurance premiums can save time and money.
Quoting and comparing rates for the lowest cost car insurance in Anchorage is not as confusing as people think. In essence, each driver who is required to buy car insurance will more than likely find a cheaper policy. But Alaska drivers should learn the way insurance companies determine premium rates and apply this information to your search.
Smart Consumers Know How to Buy Insurance Cheaper
Many things are used when you get your auto insurance bill. Most are fairly basic like a motor vehicle report, but other criteria are not as apparent such as whether you are married and annual miles driven. An important part of buying insurance is that you know some of the factors that help determine the price you pay for insurance. When you understand what influences your rates, this allows you to make educated decisions that can earn you better insurance rates.
Don’t abuse insurance claims – Auto insurance companies in Alaska award cheaper rates to people who do not file claims often. If you file a lot of claims you can expect either a policy non-renewal or much higher rates. Auto insurance is intended for the bigger claims that can’t be paid out-of-pocket.
The type of car, truck or SUV you drive affects your rates – The performance level of the car, truck or SUV you drive makes a substantial difference in determining your rates. The lowest base rates are for economy passenger vehicles, but that’s not the only thing that factors into the final price.
Single drivers take more risk – Having a wife or husband can get you a discount on insurance. Having a significant other translates into being less irresponsible and it’s proven that married drivers get in fewer accidents.
Are women or men drivers cheaper? – Over the last 50 years, statistics have shown that females take fewer risks when driving. Now that doesn’t mean women are better drivers. Both genders have fender benders at a similar rate, but the male of the species cause more damage and cost insurance companies more money. Men also receive more costly citations such as driving while intoxicated (DWI) or driving recklessly.
Qualify for multi-policy discounts – Most major insurers give a discount to insureds that have more than one policy. It’s known as a multi-policy discount. The discount can be five, ten or even twenty percent. Even though this discount sounds good, drivers will still want to compare other company rates to confirm you are receiving the best rates possible. Drivers may still find better rates even if you insure with multiple companies
Older drivers are lower risk – Teen drivers in Alaska have a tendency to be more careless when at the wheel of a vehicle and because of this, their insurance rates are much higher. Older insureds are more cautious drivers, cost insurance companies less in claims, and usually have better credit.
Higher prices for tough jobs – Jobs such as doctors, executives, and emergency personnel usually pay the highest average rates attributed to stressful work requirements and incredibly demanding work hours. On the other hand, jobs such as professors, athletes and performers generally pay rates lower than average.
Honda CR-Z claim statistics – Insurance companies study historical loss data in order to profitably underwrite each model. Vehicles that statistically have higher frequency or amount of claims will have increased rates. The next table illustrates the historical loss data for Honda CR-Z vehicles.
For each coverage category, the loss probability for all vehicles, regardless of make or model, is equal to 100. Percentage numbers below 100 are indicative of better than average losses, while numbers above 100 point to more frequent losses or an increased chance of a larger loss.
| Specific Honda Model | Collision | Property Damage | Comp | Personal Injury | Medical Payment | Bodily Injury |
|---|---|---|---|---|---|---|
| Honda CR-Z Hybrid | 106 | 87 | 83 | 98 |
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Shop around and save
Cheaper Honda CR-Z insurance in Anchorage can be sourced from both online companies and from local agencies, so get free Anchorage auto insurance quotes from both of them to have the best rate selection. Some insurance companies do not offer rates over the internet and many times these regional carriers work with independent insurance agents.
While you’re price shopping online, make sure you don’t skimp on critical coverages to save a buck or two. In too many instances, consumers will sacrifice comprehensive coverage or liability limits only to discover later that saving that couple of dollars actually costed them tens of thousands. Your objective should be to purchase plenty of coverage for the lowest cost, but do not skimp to save money.
In this article, we covered a lot of information how to shop for Honda CR-Z insurance online. The most important thing to understand is the more you quote Anchorage auto insurance, the better chance you’ll have of finding low cost Anchorage auto insurance quotes. Drivers may even discover the most savings is with an unexpected company. They may only write in your state and offer lower premium rates than the large multi-state companies such as Progressive and GEICO.
Additional resources
- Insuring a Leased Car (Insurance Information Institute)
- Who Has the Cheapest Auto Insurance Rates for Drivers Requiring a SR22 in Anchorage? (FAQ)
- How Much are Anchorage Auto Insurance Quotes for High Mileage Drivers? (FAQ)
- What Car Insurance is Cheapest for Active Military in Anchorage? (FAQ)
- Information for Teen Drivers (GEICO)
- Distracted Driving Statistics (Insurance Information Institute)
- Pickups fall short in headlight tests (Insurance Institute for Highway Safety)