The easiest way to get more affordable car insurance rates in Anchorage is to annually compare prices from companies who sell insurance in Alaska. Prices can be compared by following these steps.
Step 1: Get an understanding of the different coverages in a policy and the measures you can control to prevent high rates. Many rating criteria that are responsible for high rates like accidents, traffic tickets, and an imperfect credit score can be amended by making lifestyle changes or driving safer. This article provides more ideas to get cheaper rates and get additional discounts.
Step 2: Request price quotes from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can provide rates from a single company like GEICO or Farmers Insurance, while independent agents can give you price quotes for a wide range of insurance providers.
Step 3: Compare the new rates to your existing coverage to see if a cheaper rate is available in Anchorage. If you find a lower rate and change companies, make sure there is no lapse between the expiration of your current policy and the new one.
An important note is that you use the same level of coverage on each price quote and and to get rates from every insurance company. This ensures the most accurate price comparison and a complete price analysis.
It’s easy to assume that insurance companies don’t want you shop around. Consumers who shop around at least once a year are highly likely to buy a different policy because of the high probability of finding a cheaper policy. A recent auto insurance study discovered that consumers who compared rate quotes regularly saved an average of $865 a year compared to other drivers who don’t regularly compare prices.
If finding the cheapest price on auto insurance in Anchorage is why you’re here, then understanding how to choose a company and compare insurance rates can make shopping around easier.
Getting a cheaper price on insurance is surprisingly easy. Drivers just need to take time getting comparison quotes provided by online insurance companies.
The auto insurance companies shown below are ready to provide free rate quotes in Alaska. To find cheaper auto insurance in Anchorage, AK, it’s a good idea that you visit two to three different companies to find the cheapest auto insurance rates.
Auto insurance discounts help lower rates for Lexus SC 430 insurance in Anchorage
Companies that sell car insurance don’t necessarily list their entire list of discounts in a way that’s easy to find, so the below list has a few of the more well known and the more hidden discounts that you can inquire about if you buy Anchorage car insurance online.
- Payment Discounts – If you pay your bill all at once instead of paying each month you can actually save on your bill.
- Good Student – A discount for being a good student can get you a discount of up to 25%. You can use this discount normally until age 25.
- Professional Memberships – Joining a professional or civic organization may earn a discount when getting a Anchorage car insurance quote.
- Multiple Cars – Drivers who insure multiple vehicles on one policy qualifies for this discount.
- Good Driver Discounts – Safe drivers can get discounts for up to 45% lower rates than drivers with accident claims.
- Senior Discount – Older drivers may qualify for a discount up to 10%.
- Discount for Multiple Policies – When you have multiple policies with the same company you could save approximately 10% to 15%.
- Air Bags and Passive Restraints – Vehicles equipped with air bags can receive discounts as much as 30%.
One thing to note about discounts is that most credits do not apply to your bottom line cost. Most only reduce the cost of specific coverages such as collision or personal injury protection. So when the math indicates you could get a free auto insurance policy, companies don’t profit that way.
The example below shows the comparison of Lexus SC 430 yearly insurance costs with and without discounts. The costs are based on a female driver, no driving violations, no at-fault accidents, Alaska state minimum liability limits, full physical damage coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, marriage, multi-policy, claim-free, homeowner, and safe-driver discounts applied.
For a list of insurance companies with significant discounts in Alaska, click this link.
Rate information and statistics
The coverage information shown below showcases detailed analysis of insurance policy prices for Lexus SC 430 models. Having insight into how rates are formulated can assist in making informed decisions.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| SC 430 2-Dr Convertible | $270 | $438 | $302 | $18 | $90 | $1,118 | $93 |
| Get Your Own Custom Quote Go | |||||||
Data based on single male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Rates do not factor in specific location which can raise or lower premium rates considerably.
You Can Change Your Insurance Prices
An important part of buying insurance is that you know the factors that help calculate the rates you pay for car insurance. If you have a feel for what positively or negatively impacts your premiums, this allows you to make educated decisions that could help you find big savings.
Cautious drivers pay lower prices – Getting just one driving citation can boost insurance rates forty percent or more. Drivers who don’t get tickets tend to pay less for car insurance compared to bad drivers. People who have serious tickets such as DWI, reckless driving or hit and run convictions may face state-mandated requirements to complete a SR-22 with their state in order to drive a vehicle legally.
The diagram below illustrates how traffic citations and accidents can drive up Lexus SC 430 insurance prices for different age categories. The premium estimates are based on a single male driver, full coverage, $500 deductibles, and no discounts are factored in.
High coverage deductibles equal low rates – Physical damage protection, also called comprehensive and collision insurance, is used to repair damage to your Lexus. Some instances where coverage would apply could be a broken side mirror, vandalism, and damage from a fallen tree branch. The deductibles you choose are how much you are required to pay in the event of a claim. The more of the claim the insured is willing to pay, the better rate you will receive.
Your car’s features help determine prices – Buying a car with an alarm system can help lower your rates. Advanced theft deterrents such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent your vehicle from being stolen.
Lower rates with a multi-policy discount – Most larger car insurance companies provide discounts to buyers who consolidate policies with them. It’s known as a multi-policy discount. Discounts can add up to ten or even up to twenty percent in some cases. Even with this discount, drivers will still want to comparison shop to help ensure you have the lowest rates.
Driver age impacts rates – Beginning drivers in Alaska are statistically proven to be less responsible when behind the wheel and because of this, their car insurance rates are much higher. If you’ve ever had to add a young driver onto a policy can cause a big jump in price. Older insureds are shown to be more cautious, file fewer claims, and are generally more financially stable.
The following data is based on a single driver, full coverage with $1000 deductibles, and no discounts or violations.
Safer cars cost less to insure – Vehicles with good safety scores tend to be cheaper to insure. Safer cars reduce occupant injuries and lower injury rates means your insurance company pays less passed on to you as lower rates. If your Lexus SC 430 is rated at a minimum four stars on Safercar.gov or an “acceptable” rating on iihs.org you are probably receiving a discount.
Exclusive versus independent insurance agencies
Many drivers still prefer to visit with an insurance agent and there is nothing wrong with that. Good insurance agents can answer important questions and will help you if you have claims. A nice benefit of price shopping on the web is that drivers can save money and get lower premium rates and still have an agent to talk to.
Once you complete this simple form, the quote information is immediately sent to local insurance agents who will give you bids for your coverage. You never need to leave your computer since rate quotes are delivered straight to your inbox. In the event you want to get a comparison quote from a specific company, you would need to search and find their rate quote page and fill out the quote form the provide.
Picking an provider should depend on more than just the bottom line cost. Here are some questions you should ask.
- Does the company use OEM repair parts?
- If you have an accident, will your rates go up?
- Are there any hidden costs in their price quote and does it include driving and credit history?
- Are they in the agency full-time?
- Is the agent and/or agency licensed to do business in Alaska?
- How many companies do they write for?
Two types of auto insurance agents
If you are searching for a local agent, there are a couple of types of insurance agents and how they can quote your rates. Agencies in Anchorage can be described as either exclusive or independent agents depending on their company appointments. Both types of agents can write policy coverage, but we need to point out the differences since it can impact buying decisions.
Exclusive Insurance Agents
Exclusive insurance agents can usually just insure with one company and examples are AAA, State Farm, Farmers Insurance, and Allstate. Exclusive agents cannot provide other company’s prices so keep that in mind. Exclusive agents are very knowledgeable on their company’s products which helps offset the inability to provide other markets. Consumers frequently purchase coverage from exclusives primarily because of the brand name instead of buying on price only.
Shown below are exclusive insurance agents in Anchorage willing to provide price quote information.
- Steve VanHorne – State Farm Insurance Agent
510 W Tudor Rd Ste 1 – Anchorage, AK 99503 – (907) 561-0000 – View Map - Allstate Insurance: Ronald Samber
1731 Bragaw St – Anchorage, AK 99508 – (907) 333-4566 – View Map - Allstate Insurance: Devery Prince Agency Team
401 E Fireweed Ln Ste 200 – Anchorage, AK 99503 – (907) 279-9000 – View Map
Independent Insurance Agents
These agents are not locked into one company so they can insure your vehicles with any number of different companies and find the cheapest rate. If you are not satisfied with one company, the agent simply finds a different carrier and you can keep the same agent. When comparing rate quotes, you definitely need to include multiple independent agents to have the best price comparison. Most can insure with companies you’ve never heard of that many times have cheaper rates.
Shown below is a short list of independent agencies in Anchorage that are able to give price quote information.
- Insurance Group Of Alaska
505 W Northern Lights Blvd #216 – Anchorage, AK 99503 – (907) 276-9600 – View Map - Alaska National Insurance Co
7001 Jewel Lake Rd – Anchorage, AK 99502 – (907) 248-2642 – View Map - Safeco Insurance
500 W 36th Ave #210 – Anchorage, AK 99503 – (907) 770-2400 – View Map
After you get reasonable responses to any questions you may have and locked in a price quote, it’s possible that you found an insurance agent that meets the criteria to insure your vehicles. It’s important to know that consumers can terminate coverage when you choose so don’t assume that you are permanently stuck with the car insurance policy with no way out.
Cheap insurance rates are available
The cheapest Lexus SC 430 insurance in Anchorage is possible on the web and also from your neighborhood Anchorage agents, and you need to price shop both to have the best selection. A few companies don’t offer the ability to get a quote online and many times these regional carriers only sell through local independent agencies.
Drivers switch companies for any number of reasons including unfair underwriting practices, extreme rates for teen drivers, lack of trust in their agent and even delays in paying claims. It doesn’t matter why you want to switch switching insurance companies is pretty simple and you could end up saving a buck or two.
When trying to cut insurance costs, make sure you don’t reduce coverage to reduce premium. In many cases, an insured cut full coverage to discover at claim time that the savings was not a smart move. The aim is to buy the best coverage you can find at a price you can afford while still protecting your assets.
To read more, take a look at these articles:
- Child Safety Seats (Insurance Information Institute)
- Who Has Affordable Car Insurance for Welfare Recipients in Anchorage? (FAQ)
- Who Has Affordable Anchorage Car Insurance Quotes for High School Students? (FAQ)
- Who Has the Cheapest Auto Insurance for Drivers with a DUI in Anchorage? (FAQ)
- How Much is Anchorage Auto Insurance for a Kia Forte? (FAQ)
- Who Has Affordable Auto Insurance Quotes for Seniors in Anchorage? (FAQ)
- How Much are Auto Insurance Quotes for a Hyundai Santa Fe in Anchorage? (FAQ)
- Rental Reimbursement Coverage (Allstate)
- Anti-Lock Brake FAQ (iihs.org)
- Auto Insurance FAQ (Farmers Insurance)
- Auto Insurance Basics (Insurance Information Institute)