Compare Honda Odyssey Insurance Quotes in Anchorage

Sick and tired of robbing Peter to pay Paul each month for car insurance? You are in the same boat as the majority of other vehicle owners in Alaska.

Unbelievable but true, nearly 70% of consumers have purchased from the same company for over three years, and practically 40% of car insurance customers have never quoted car insurance rates at all. With the average car insurance premium being $1,158, Anchorage drivers can cut their rates by about 35% a year by just comparing quotes, but they don’t know the amount of savings they would get if they bought a different policy.

With vehicle owners having so many options when it comes to car insurance, it’s difficult to choose the most cost effective insurance company.

It’s important to price shop coverage yearly because car insurance prices tend to go up over time. Even if you think you had the lowest rates on Honda Odyssey insurance in Anchorage two years ago you can probably find a lower rate today. Block out anything you think you know about car insurance because it’s time to teach you how to use online quotes to save money, get proper coverage and the best rates.

This information will instruct you on how auto insurance companies operate and how you can save the most money. If you have insurance now, you will surely be able to get lower rates using the ideas you’re about to read. But Alaska car owners need to learn how the larger insurance companies market insurance on the web because rates are impacted by many factors.

Cheap Anchorage Honda Odyssey insurance

Most companies like State Farm and Allstate provide price estimates on the web. Getting quotes for Honda Odyssey insurance in Anchorage is fairly simple as you just enter the coverages you want on the page. After you submit the form the system obtains information on your driving record and credit history and returns pricing information. Quoting online for Honda Odyssey insurance in Anchorage simplifies rate comparisons, and it’s very important to get many rate quotes if you are searching for a lower rate.

To quickly use this form to compare rates, take a look at the companies shown below. If you currently have coverage, we recommend you type in the limits and deductibles exactly as shown on your declarations page. This way, you will be getting comparison quotes for the exact same coverage.

The companies shown below offer comparison quotes in Anchorage, AK. To buy cheaper auto insurance in Alaska, we recommend you visit two to three different companies to get the best price comparison.

Coverage statistics and figures

The price information displayed next outlines estimates of insurance policy prices for Honda Odyssey models. Knowing how prices are figured can be of help when making decisions when shopping around.

Table data represents single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Rate quotes do not factor in specific zip code location which can influence rates greatly.

Should you raise deductibles?

One of the hardest decisions when shopping for insurance is which deductibles should you choose. The tables below can help you visualize the differences in premium rates between low and high deductibles. The first set of rates uses a $100 deductible for physical damage and the second pricing table uses a $1,000 deductible.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include multi-policy, homeowner, safe-driver, claim-free, and multi-vehicle. Premium amounts do not factor in specific location which can change premium rates significantly.

Based on this data, we can arrive at the conclusion that using a $100 deductible will cost you approximately $28 more each month or $336 each year than selecting the higher $1,000 deductible. Since you would have to pay $900 more out-of-pocket with a $1,000 deductible as compared to a $100 deductible, if you go more than 32 months between claim filings, you would save more money going with the higher deductible.

One important caveat is that higher deductibles means you will have to cover more of the damage yourself when you have a physical damage claim. You should have some extra funds in order to pay more to get your vehicle repaired.

Impact of careless driving on Anchorage insurance rates

The example below illustrates how violations and at-fault accidents can affect Honda Odyssey insurance costs for different age groups. The price estimates are based on a single male driver, full physical damage coverage, $250 deductibles, and no policy discounts are applied.

Full coverage rates vs. liability-only

The diagram below shows the comparison of Honda Odyssey insurance costs with full physical damage coverage compared to only buying liability only. The data is based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are not married, and no policy discounts are applied.

When to drop comp and collision

There is no specific rule that is best for determining when to drop physical damage insurance, but there is a general guideline you can use. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

For example, let’s pretend your Honda Odyssey book value is $4,000 and you have $1,000 deductibles. If your vehicle is totaled, the most you would receive is $3,000 after paying the physical damage deductible. If you are paying in excess of $300 annually for full coverage, then you might want to consider buying only liability coverage.

There are some situations where dropping full coverage is not a good plan. If you haven’t satisfied your loan, you have to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is in an accident, you should not eliminate full coverage.

Insurance in Alaska serves several purposes

Even though it can be expensive, maintaining insurance serves several important purposes.

• The majority of states have mandatory insurance requirements which means you are required to carry a specific level of liability insurance coverage in order to drive the car legally. In Alaska these limits are 50/100/25 which means you must have $50,000 of bodily injury coverage per person, $100,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
• If you have a loan on your vehicle, more than likely the lender will make it mandatory that you have full coverage to ensure loan repayment if the vehicle is totaled. If you let the policy lapse, the bank or lender will purchase a policy for your Honda at an extremely high rate and force you to reimburse them for the expensive policy.
• Insurance protects your vehicle and your assets. Insurance will pay for medical expenses for you, any passengers, and anyone injured in an accident. One policy coverage, liability insurance, will also pay for a defense attorney if anyone sues you for causing an accident. If damage is caused by hail or an accident, collision and comprehensive coverages will pay to repair the damage.

The benefits of having insurance are definitely more than the cost, particularly when you have a large claim. As of last year, the average driver in Alaska is overpaying over $800 each year so you should quote rates every year to help ensure money is not being wasted.

How do Insurance Companies Determine Honda Odyssey Insurance Rates?

It’s important that you understand the different types of things that are used to determine the rates you pay for auto insurance. When you understand what controls the rates you pay, this helps enable you to make changes that can help you get lower premium levels.

• Bundling policies can get discounts – Some insurers will give better rates to customers that buy multiple policies in the form of a multi-policy discount. Even with this discount applied, you may still want to check prices from other companies to make sure you are getting the best deal.
• Advanced alarms and GPS tracking – Choosing a vehicle that has a built-in theft deterrent system can help bring down rates. Systems that thwart thieves such as vehicle immobilizer systems, OnStar, and tracking devices like LoJack can thwart car theft.

• Teenage driver insurance prices – Inexperience drivers tend to be less responsible in a vehicle so auto insurance rates are higher. More mature drivers are proven to be safer behind the wheel, cost insurance companies less in claims, and are safer drivers.

  The following data uses these variables: single driver, full coverage with $100 deductibles, and no discounts or violations.

• The more you drive the more you pay – The more you drive in a year’s time the more you will pay for auto insurance. Almost all companies calculate prices partially by how you use the vehicle. Vehicles that do not get driven very much cost less to insure compared to those used for work or business. Make sure your declarations sheet is showing the correct driver usage, because it can save money. Having the wrong rating on your Odyssey is throwing money out the window.
• A policy lapse can increase prices – Driving without insurance can get you a ticket and companies may charge more for letting your coverage lapse. In addition to paying higher rates, the inability to provide proof of insurance can result in a revoked license or a big fine. Then you may be required to file a SR-22 with the Alaska motor vehicle department to get your license reinstated.

• Guys pay more for insurance coverage – Over the last 30 years, statistics show that men are more aggressive behind the wheel. It does not mean males are worse at driving than females. Women and men are in at-fault accidents in similar numbers, but guys cause more damage and cost insurance companies more money. They also have more aggressive citations such as driving while intoxicated (DWI) or driving recklessly. Teenage male drivers are the most expensive to insure and thus pay the highest rates.

  The diagram below compares Honda Odyssey insurance costs for male and female drivers. The price estimates are based on no accidents, no driving violations, full physical damage coverage, $100 deductibles, marital status is single, and no discounts are factored in.

• Do you work long hours in a stressful occupation? – Did you know that where you work can have an impact on rates? Occupational choices like judges, police officers, and dentists generally pay higher premiums than the average policyholder because of intense work requirements and lengthy work days. On the flip side, jobs such as professors, students and homemakers have the lowest average rates.
• Policy claims cost money – Auto insurance companies in Alaska award discounts to insureds who only file infrequent claims. If you file claims often, you can pretty much guarantee higher premiums or even policy non-renewal. Your insurance policy is intended to be relied upon for the bigger claims that can’t be paid out-of-pocket.

• Insurance losses for a Honda Odyssey – Insurance companies take into consideration insurance loss statistics for every vehicle to calculate a rate that offsets possible losses. Models that the statistics show to have higher number or severity of losses will have a higher premium rate. The table below outlines the compiled insurance loss statistics for Honda Odyssey vehicles.

  For each insurance policy coverage type, the claim probability for all vehicles combined as an average is equal to 100. Percentages below 100 are indicative of better than average losses, while percentages above 100 point to more claims or tendency to have higher losses.

  
  

  Honda Odyssey Insurance Claim Statistics

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Honda Odyssey	78	83	75	82	78	71

  BETTER

  AVERAGE

  WORSE

  Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Car insurance is unique, just like you

When quoting and choosing proper insurance coverage, there is no one size fits all plan. Every insured’s situation is different.

For example, these questions could help you determine whether you will benefit from professional help.

• Is rental equipment covered for theft or damage?
• Are combined or split liability limits better?
• Do they offer discounts for home and auto coverage?
• Does coverage extend to a rental car in a foreign country?
• Is my teen driver covered when they drive my company car?
• Is my Honda Odyssey covered for flood damage?
• When would I need rental car insurance?
• Can I get a multi-policy discount?

If you’re not sure about those questions but you think they might apply to your situation, then you may want to think about talking to a licensed agent. To find lower rates from a local agent, fill out this quick form.

Frequent quotes can save

Discount Honda Odyssey insurance in Anchorage can be found online and from local insurance agents, so you should compare both to have the best selection. Some insurance companies may not offer the ability to get a quote online and most of the time these smaller providers only sell through independent insurance agencies.

We just showed you many ideas to reduce Honda Odyssey insurance prices online in Anchorage. The key concept to understand is the more quotes you get, the better your chances of lowering your rates. You may even find the most savings is with a lesser-known regional company.

Insureds who switch companies do it for many reasons like policy non-renewal, poor customer service, extreme rates for teen drivers or high prices. Regardless of your reason, finding a new auto insurance company can be easier than you think.

How to buy lower priced Honda Odyssey insurance in Anchorage

The best way we recommend to find low-cost car insurance rates in Anchorage is to compare quotes annually from different companies who sell auto insurance in Alaska.

1. Spend a few minutes and learn about the coverage provided by your policy and the things you can control to prevent high rates. Many factors that result in higher prices such as getting speeding tickets and an unacceptable credit rating can be controlled by making minor driving habit or lifestyle changes.
2. Obtain price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can provide rates from one company like Progressive and State Farm, while agents who are independent can provide price quotes for a wide range of companies.
3. Compare the price quotes to your existing rates to determine if you can save on Odyssey insurance in Anchorage. If you find a lower rate quote and switch companies, ensure coverage does not lapse between policies.
4. Give notification to your current company to cancel your current coverage and submit the completed application along with a down payment for your new policy. Once the paperwork is finalized, safely store the proof of insurance paperwork in an easily accessible location.

One important bit of advice is that you’ll want to compare the same coverage limits and deductibles on each quote request and to quote with every insurance company. This provides a fair price comparison and the best price quote selection.

Helpful learning opportunities

• Booster Seat Ratings (iihs.org)
• How Much is Anchorage Auto Insurance for a Kia Forte? (FAQ)
• How Much are Car Insurance Rates for Single Moms in Anchorage? (FAQ)
• Who Has the Cheapest Auto Insurance Rates for a 20 Year Old Male in Anchorage? (FAQ)
• Auto Crash Statistics (Insurance Information Institute)
• Event Data Recorders FAQ (iihs.org)
• Frontal Crash Tests (iihs.org)
• Medical Payments Coverage (Liberty Mutual)