Save Money on Mercury Milan Insurance in Anchorage

Unbelievably, the majority of drivers have stayed with the same insurance company for well over three years, and nearly half have never compared rates to find lower-cost insurance. U.S. drivers could save almost 47% each year by just shopping around, but they assume it’s a waste of time to go online and compare rates.

It takes a little time, but the best way to get discount Mercury Milan insurance is to begin comparing prices regularly from providers who provide car insurance in Anchorage.

First, try to learn about car insurance and the things you can control to prevent rate increases. Many rating factors that cause rate increases such as careless driving and an unacceptable credit rating can be controlled by paying attention to minor details.

Second, compare prices from direct, independent, and exclusive agents. Exclusive and direct companies can only quote rates from one company like GEICO or State Farm, while independent agencies can quote prices from many different companies.

Third, compare the new rate quotes to the price on your current policy and see if there is a cheaper rate. If you find a lower rate quote and buy the policy, make sure coverage is continuous and does not lapse.

One thing to point out is to make sure you’re comparing identical coverage information on every price quote and and to analyze as many different insurance providers as possible. Doing this helps ensure an apples-to-apples comparison and a thorough price selection.

Why You Might Pay Higher Rates in Anchorage

Multiple criteria are taken into consideration when quoting car insurance. Some factors are common sense like a motor vehicle report, but some are less obvious such as your credit history or how safe your car is.

The following are some of the most common factors used by companies to determine your premiums.

• Know your credit history – An insured’s credit score can be an important factor in determining what you pay for auto insurance. Drivers with good credit tend to be more responsible than drivers who have bad credit. If your credit score can be improved, you could be paying less to insure your Mercury Milan by spending a little time repairing your credit.
• Deter vehicle theft – Choosing to buy a car with an alarm system can get you a discount on your auto insurance. Theft deterrent systems like GM’s OnStar, tamper alarm systems and vehicle immobilizers all hinder your vehicle from being stolen.
• High deductibles lower prices – Comp and collision deductibles define the amount you are willing to pay out-of-pocket before a claim is paid by your company. Insurance for physical damage, aka comp and collision, covers damage that occurs to your car. Some examples of covered claims are collision with another vehicle, damage caused by hail, or theft of your vehicle. The more expense you choose to pay out-of-pocket, the bigger discount you will receive.

• Gender matters – Statistics have proven women tend to be less risk to insure than men. The data does not necessarily mean that women are BETTER drivers than men. They both tend to get into auto accidents in similar numbers, but the male of the species have costlier accidents. Men also get cited for more serious violations like reckless driving and DUI.

  The illustration below visualizes the comparison of Mercury Milan insurance costs for male and female drivers. The premium estimates are based on no violations or claims, full physical damage coverage, $500 deductibles, marital status is single, and no other discounts are factored in.

• Pay more by driving carelessly – Getting just one moving violation may cause rates to rise by as much as thirty percent. Drivers who don’t get tickets get better rates than bad drivers. Drivers unfortunate enough to have severe citations like hit and run, DWI or reckless driving convictions are required to submit a SR-22 form to the state department of motor vehicles in order to keep their license.

  The example below shows how speeding tickets and accidents raise Mercury Milan car insurance rates for each age group. Data assumes a married female driver, comprehensive and collision coverage, $250 deductibles, and no additional discounts are factored in.

Coverage statistics and figures

The data table shown next outlines different insurance premium costs for Mercury Milan models. Being more informed about how rates are calculated is important for you to make smart choices when buying a car insurance policy.

Data based on single female driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, safe-driver, and claim-free. Premium amounts do not factor in specific location which can modify coverage prices noticeably.

Rate comparison for different deductibles

One of the most common car insurance questions is how high should the deductibles for physical damage be. The comparisons below help summarize the price difference between low and high coverage deductibles. The first rate comparisons uses a $250 comprehensive and collision deductible and the second price chart uses a $500 deductible.

Table data represents married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include multi-policy, claim-free, multi-vehicle, homeowner, and safe-driver. Price estimates do not factor in specific garaging location which can increase or decrease insurance rates greatly.

Using the data above, we can ascertain that using a $250 deductible would cost the average driver about $12 more each month or $144 a year across all Mercury Milan models than quoting the higher $500 deductible. Since you would have to pay $250 more to file a claim with a $500 deductible as compared to a $250 deductible, if you average at least 21 months between claims, you would save money by selecting a higher deductible.

The example below shows how different deductible levels and can impact Mercury Milan insurance costs for different insured age categories. The premium estimates are based on a single male driver, full coverage, and no discounts are applied to the premium.

Full coverage rates compared to liability-only

The information below shows the difference between Mercury Milan car insurance rates with full physical damage coverage compared to only buying liability only. The premiums assume no claims or violations, $250 deductibles, marital status is single, and no policy discounts are applied.

When to switch to liability coverage only

There is no definitive rule of when to eliminate comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of any settlement you would receive from your insurance company, then you may want to consider only buying liability coverage.

For example, let’s say your Mercury Milan claim settlement value is $5,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $4,000 after paying your deductible. If it’s costing you more than $400 a year to have full coverage, the it may be a good time to stop paying for full coverage.

There are some scenarios where buying only liability insurance is not a good idea. If you haven’t satisfied your loan, you are required to maintain full coverage to satisfy the loan requirements. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not eliminate full coverage.

Verify you’re receiving every discount

Car insurance can cost a lot, but companies offer discounts that could help you make your next renewal payment. Some discounts apply automatically at the time of quoting, but some need to be specially asked for before they will apply. If you check and find you aren’t receiving every discount possible, you may be paying too high a price.

• Senior Citizen Discount – If you’re over the age of 55, you may receive a small decrease in premiums.
• Anti-lock Brakes – Cars and trucks with anti-lock braking systems can stop better under adverse conditions and qualify for as much as a 10% discount.
• Switch and Save Discount – Some larger companies reward drivers for renewing your policy before your current expiration date. You can save around 10% with this discount.
• Accident Forgiveness Coverage – This one isn’t a discount, but some insurance companies will turn a blind eye to one accident without getting socked with a rate hike if your claims history is clear for a particular time prior to the accident.
• Discount for Home Ownership – Owning a house in Anchorage can save you money because it means you have a higher level of financial diligence.

Please keep in mind that most discount credits are not given to the entire cost. Some only reduce individual premiums such as liability and collision coverage. If you do the math and it seems like all those discounts means the company will pay you, companies wouldn’t make money that way.

The information below compares Mercury Milan auto insurance costs with and without discounts. The rate quotes are based on a female driver, no claims, a clean driving record, Alaska state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, multi-car, marriage, homeowner, and multi-policy discounts applied.

Some of the insurance companies that have many of the previously listed discounts include:

• State Farm
• GEICO
• Allstate
• SAFECO
• Farm Bureau
• Progressive
• AAA

If you need cheaper Anchorage auto insurance quotes, ask each company or agent which discounts can lower your rates. Some discounts listed above might not be offered on policies in Anchorage. To see insurance companies with discount rates in Anchorage, click here.

Cheaper auto insurance is a realistic goal

We’ve covered a lot of techniques to get a better price on Mercury Milan insurance in Anchorage. The most important thing to understand is the more you quote Anchorage auto insurance, the more likely it is that you will get a better rate. Consumers could even find that the most savings is with the smaller companies.

When shopping online for auto insurance, do not buy lower coverage limits just to save a few bucks. In many instances, drivers have reduced full coverage and found out when filing a claim they didn’t have enough coverage. Your aim should be to find the BEST coverage at a price you can afford, but do not skimp to save money.

Some insurance companies may not have internet price quotes and these smaller providers only sell through independent agents. Lower-priced Mercury Milan insurance in Anchorage is attainable online and from local agencies, and you should compare rates from both to have the best chance of lowering rates.

Additional auto insurance information is available at the links below

• Rental Car Insurance Tips (Insurance Information Institute)
• What Car Insurance is Cheapest for a Subaru Outback in Anchorage? (FAQ)
• What Car Insurance is Cheapest for a Learners Permit in Anchorage? (FAQ)
• Who Has Affordable Car Insurance Rates for a Ford F-150 in Anchorage? (FAQ)
• Who Has the Cheapest Car Insurance Rates for Drivers with Bad Credit in Anchorage? (FAQ)
• Who Has Affordable Car Insurance for Police Officers in Anchorage? (FAQ)
• Who Has the Cheapest Auto Insurance Rates for Drivers Requiring a SR22 in Anchorage? (FAQ)
• Parking Tips to Reduce Door Dings (State Farm)
• Tread Depth and Tire Safety (State Farm)
• Child Safety FAQ (iihs.org)
• New Honda safety features benefit drivers of all ages (Insurance Institute for Highway Safety)