Sad but true, a large majority of car insurance policyholders in Alaska have purchased from the same company for at least the last four years, and approximately 40% of consumers have never shopped around. Most drivers in the United States could save almost 47% each year just by getting comparison quotes, but they just don’t understand the rate savings if they changed companies.
If you want to find the absolute lowest rates, then the best way to find discount Lexus LFA insurance in Anchorage is to do an annual price comparison from different companies that sell auto insurance in Alaska.
First, spend some time learning about what is in your policy and the changes you can make to drop your rates. Many policy risk factors that result in higher prices such as traffic tickets, fender benders, and an unacceptable credit score can be remedied by making minor changes to your lifestyle. Continue reading for more information to prevent expensive rate increases and find additional discounts you may qualify for.
Second, compare price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can give quotes from a single company like GEICO and State Farm, while independent agencies can provide rate quotes from multiple insurance companies. View rates
Third, compare the new rate quotes to your existing coverage and see if you can save money. If you can save money, make sure coverage does not lapse between policies.
Fourth, give proper notification to your current agent or company to cancel your current policy. Submit payment along with a signed and completed policy application to your new insurance company. As soon as you can, put the new certificate verifying coverage in a readily accessible location in your vehicle.
A crucial key to this process is to use identical deductibles and limits on each quote and and to get rates from as many carriers as you can. This enables a fair rate comparison and the best price quote selection.
Low Cost companies for Lexus LFA insurance in Alaska
The following companies are our best choices to provide comparison quotes in Anchorage, AK. If you wish to find the cheapest auto insurance in Anchorage, it’s highly recommended you visit two to three different companies in order to get a fair rate comparison.
Verify you’re getting every discount
Companies do not list all discounts very clearly, so the next list breaks down a few of the more well known as well as some of the hidden credits that may apply to you.
- Student Driver Training – Reduce the cost of insurance for teen drivers by having them participate in a local driver’s education class if it’s offered in school.
- Multi-line Discount – Not every insurance company offers life insurance, but if they do you may earn lower car insurance rates if you buy life insurance from them.
- Auto/Home Discount – When you have multiple policies with the same company they may give you a discount of 10% to 20% off each policy.
- Theft Prevention Discount – Vehicles equipped with anti-theft or alarm systems are stolen with less frequency and will save you 10% or more on LFA insurance in Anchorage.
- Student in College – Children who attend college more than 100 miles from Anchorage and don’t have a car could qualify for this discount.
- Discount for New Cars – Insuring a vehicle that is new can save you some money because newer models keep occupants safer.
- Smart Student Discounts – This discount can be rewarded with saving of up to 25%. Many companies even apply the discount to college students up until you turn 25.
- Discount for Home Ownership – Owning a house in Anchorage can get you a discount because owning a home shows financial diligence.
Discounts save money, but please remember that some of the credits will not apply to your bottom line cost. Some only apply to the cost of specific coverages such as comprehensive or collision. Despite the appearance that you would end up receiving a 100% discount, companies wouldn’t make money that way. Any qualifying discounts should help lower your policy premium.
Some of the insurance companies that may have these money-saving discounts possibly include:
Before you buy a policy, ask each company or agent which credits you are entitled to. All car insurance discounts may not be available in your area.
Buying from car insurance agents
Many people still prefer to sit down with an agent and that is not a bad decision Most agents will help you protect your assets and give you someone to call. A nice benefit of comparing insurance prices online is you can get lower prices and still have a local agent.
After filling out this simple form, your insurance data gets sent to local insurance agents in Anchorage who want to provide quotes for your business. You won’t need to search for any insurance agencies since rate quotes are delivered to you directly. If you have a need to get a comparison quote from a specific auto insurance provider, feel free to visit that company’s website and submit a quote form there.
Deciding on a insurer is decision based upon more than just a cheap price quote. Here are some questions to ask:
- Do they carry Errors and Omissions coverage?
- Do they feel the quoted coverages are adequate?
- Can they give you a list of client referrals?
- Will one accident increase rates?
- Do they review policy coverages at every renewal?
Choose the right auto insurance agent
When searching for a good insurance agency, it’s important to understand the different agency structures and how they are distinctly different. Auto insurance agents are classified as either exclusive or independent agents depending on their company appointments. Both can sell affordable auto insurance policies, but we need to point out how they differ since it can affect your agent selection.
Exclusive Auto Insurance Agencies
Agents of this type can only place business with one company such as Farmers Insurance, Allstate, or State Farm. They generally cannot compare rates from other companies so they have no alternatives for high prices. Exclusive insurance agents receive extensive training on their products and sales techniques and that allows them to sell at a higher price point. Consumers sometimes use the same agent primarily because of high brand loyalty rather than low price.
Below are Anchorage exclusive agencies willing to provide price quotes.
- Amanda Juliussen – State Farm Insurance Agent
5600 Debarr Road Ste 140 – Anchorage, AK 99504 – (907) 333-4131 – View Map - Herb Schlereth – State Farm Insurance Agent
225 E Fireweed Ln #101 – Anchorage, AK 99503 – (907) 277-5548 – View Map - Allstate Insurance: Stan Tebow
3701 E Tudor Rd Ste 105 – Anchorage, AK 99507 – (907) 562-2645 – View Map
Independent Agencies or Brokers
Agents that choose to be independent are appointed with more than one company and that enables them to quote your coverage with lots of companies depending on which coverage is best. If they find a lower price, an independent agent can move your coverage which is easy for the insured.
When comparing rates, you should always include rate quotes from a few independent agents to ensure the widest selection of prices. Most also have access to additional companies that you may not be familiar with which may have better rates.
Below are independent insurance agents in Anchorage that can give you rate quotes.
- Umialik Insurance Company
3301 C St #300 – Anchorage, AK 99503 – (907) 338-5445 – View Map - Kent S Kallander Insurance Agency Inc
1317 W Northern Lights Blvd #9 – Anchorage, AK 99503 – (907) 563-1492 – View Map - Aurora Insurance Services – A Horace Mann Company
4450 Cordova St #120 – Anchorage, AK 99503 – (907) 563-5300 – View Map
Car insurance company ratings
Ending up with the right auto insurance company can be challenging considering how many different insurance companies sell coverage in Alaska. The information listed below may help you select which auto insurers you want to consider shopping your coverage with.
Top 10 Anchorage Car Insurance Companies Overall
- USAA
- American Family
- State Farm
- The Hartford
- AAA Insurance
- GEICO
- The General
- Progressive
- Allstate
- Liberty Mutual
Top 10 Anchorage Car Insurance Companies Ranked by Value
- USAA
- American Family
- The Hartford
- The General
- State Farm
- AAA Insurance
- Allstate
- Esurance
- Safeco
- 21st Century
Coverages available on your insurance policy
Knowing the specifics of insurance can help you determine appropriate coverage for your vehicles. The terms used in a policy can be impossible to understand and coverage can change by endorsement.
Protection from uninsured/underinsured drivers
Uninsured or Underinsured Motorist coverage protects you and your vehicle when other motorists either have no liability insurance or not enough. Covered losses include injuries sustained by your vehicle’s occupants and also any damage incurred to your Lexus LFA.
Because many people carry very low liability coverage limits (which is 50/100/25), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages should not be overlooked.
Auto liability insurance
This can cover damage that occurs to other people or property by causing an accident. Coverage consists of three different limits, bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see policy limits of 50/100/25 that means you have $50,000 in coverage for each person’s injuries, $100,000 for the entire accident, and property damage coverage for $25,000.
Liability coverage pays for things such as structural damage, court costs and attorney fees. The amount of liability coverage you purchase is a decision to put some thought into, but it’s cheap coverage so purchase as much as you can afford. Alaska state law requires minimum liability limits of 50/100/25 but you should consider buying higher limits.
The chart below shows why minimum state limits may not provide adequate coverage.
Auto collision coverage
This coverage pays to fix your vehicle from damage caused by collision with a stationary object or other vehicle. You will need to pay your deductible and the rest of the damage will be paid by collision coverage.
Collision insurance covers claims such as hitting a parking meter, scraping a guard rail, driving through your garage door and colliding with a tree. This coverage can be expensive, so you might think about dropping it from older vehicles. You can also increase the deductible on your LFA to save money on collision insurance.
Medical expense insurance
Coverage for medical payments and/or PIP kick in for expenses for chiropractic care, funeral costs and hospital visits. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. They cover all vehicle occupants and also covers any family member struck as a pedestrian. PIP coverage is only offered in select states and gives slightly broader coverage than med pay
Comprehensive (Other than Collision)
Comprehensive insurance covers damage caused by mother nature, theft, vandalism and other events. You first have to pay a deductible and the remainder of the damage will be paid by comprehensive coverage.
Comprehensive coverage pays for things such as hitting a deer, vandalism, falling objects and rock chips in glass. The maximum amount a insurance company will pay at claim time is the actual cash value, so if it’s not worth much more than your deductible consider dropping full coverage.
Cheaper car insurance prices are available
Lower-priced Lexus LFA insurance in Anchorage is possible from both online companies and with local Anchorage insurance agents, and you should be comparing both to have the best rate selection. Some insurance companies do not offer internet price quotes and usually these smaller companies only sell through independent insurance agents.
In this article, we covered a lot of tips how to save on Lexus LFA insurance in Anchorage. It’s most important to understand that the more quotes you get, the more likely it is that you will get a better rate. Drivers may even discover the best prices are with some of the smallest insurance companies.
As you prepare to switch companies, do not reduce coverage to reduce premium. There are many occasions where drivers have reduced liability coverage limits only to regret at claim time that they should have had better coverage. Your goal should be to buy a smart amount of coverage at the best cost but still have enough coverage for asset protection.
To learn more, feel free to browse these articles:
- Understanding Limits and Deductibles (Allstate)
- How Much are Car Insurance Quotes for Nurses in Anchorage? (FAQ)
- Who Has the Cheapest Auto Insurance Quotes for 18 Year Olds in Anchorage? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Young Drivers in Anchorage? (FAQ)
- Who Has Affordable Anchorage Car Insurance Quotes for Infrequent Drivers? (FAQ)
- Dangers of fake or stolen airbags (Insurance Institute for Highway Safety)
- Safety Features for Your New Car (State Farm)
- Auto Insurance for Teen Drivers (Insurance Information Institute)