Cheapest Insurance for a Ford Expedition in Anchorage

It’s a fact that car insurance companies don’t want you comparing rates. Consumers who get comparison quotes once a year will probably switch to a new company because of the high probability of finding a lower-priced policy. A recent survey discovered that consumers who make a habit of shopping around saved on average $3,450 over four years compared to people who never compared prices.

If saving money on Ford Expedition insurance in Anchorage is your objective, then knowing how to choose a company and compare cheaper coverage can make the process more efficient.

Really, the only way to find more affordable Ford Expedition insurance in Anchorage is to do an annual price comparison from providers in Alaska.

Step 1: Take a few minutes and learn about what coverages are included in your policy and the steps you can take to keep rates in check. Many rating criteria that increase rates such as accidents, traffic violations, and an imperfect credit score can be remedied by making small lifestyle or driving habit changes. Keep reading for additional ideas to get cheaper coverage and earn larger discounts.

Step 2: Obtain price quotes from exclusive agents, independent agents, and direct providers. Exclusive and direct companies can only give prices from one company like GEICO or State Farm, while agents who are independent can provide rate quotes for a wide range of companies.

Step 3: Compare the quotes to your current policy and determine if there is any savings. If you find a better price and switch companies, make sure there is no lapse in coverage.

Step 4: Give proper notification to your current agent or company to cancel your current policy. Submit any necessary down payment along with the completed application to the new company. As soon as you can, safely store the certificate of insurance in an easily accessible location in your vehicle.

One thing to point out is that you use the same coverage limits and deductibles on every quote request and and to get quotes from as many carriers as you can. This ensures an apples-to-apples comparison and a thorough selection of prices.

When comparison shopping, comparing a large number of companies will enable you to find better pricing. Some regional insurers cannot provide online rate quotes, so you should also compare prices from those companies as well.

The following companies are ready to provide price quotes in Alaska. If you want the best auto insurance in Anchorage, it’s highly recommended you compare several of them to find the lowest car insurance rates.

Why you need car insurance

Even though Anchorage Expedition insurance rates can get expensive, buying car insurance may be mandatory for several reasons.

• Almost all states have mandatory insurance requirements which means you are required to carry a minimum amount of liability insurance coverage in order to drive the car. 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 lien on your Ford, almost every bank will require you to have comprehensive coverage to ensure loan repayment if the vehicle is totaled. If you do not pay your insurance premiums, the lender will be forced to insure your Ford at a much higher rate and require you to pay for the expensive policy.
• Insurance protects not only your Ford Expedition but also your financial assets. It will also provide coverage for many types of medical costs for yourself as well as anyone injured by you. One of the most valuable coverages, liability insurance, also covers all legal expenses up to the policy limit if you cause an accident and are sued. If mother nature or an accident damages your car, your policy will pay to repair the damage minus the deductible amount.

The benefits of having insurance definitely exceed the cost, especially if you ever need it. But the average American driver is overpaying over $700 annually so you should quote and compare rates at every policy renewal to be sure current rates are still competitive.

Rates and information analytics

The rate information displayed next outlines estimates of insurance policy prices for Ford Expedition models. Understanding more about how auto insurance policy rates are figured helps drivers make smart choices when comparing insurance quotes.

Price data assumes single female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Estimates do not factor in specific location which can modify auto insurance rates greatly.

An analysis of deductible level

When buying car insurance, a common question is where should you set your physical damage deductibles. The rates shown below sum up the differences in premium rates of buying low and high comp and collision deductibles. The first table uses a $100 deductible for physical damage and the second pricing table uses a $1,000 deductible.

Cost estimates assume married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include homeowner, multi-policy, multi-vehicle, claim-free, and safe-driver. Premium amounts do not factor in Anchorage location which can lower or raise prices noticeably.

Based on these figures, using a $100 deductible costs an average of $30 more each month or $360 every year than quoting the higher $1,000 deductible. Due to the fact that you would have to pay $900 more to settle a claim with a $1,000 deductible as compared to a $100 deductible, if you normally go at a minimum 30 months between claims, you would most likely save money by going with a higher deductible.

How careless driving impacts car insurance rates

The example below illustrates how traffic citations and accident claims can drive up Ford Expedition yearly insurance costs for each age group. The premiums are based on a single male driver, comp and collision included, $500 deductibles, and no discounts are taken into consideration.

Ford Expedition insurance rates by gender in Anchorage

The example below compares Ford Expedition insurance prices for male and female drivers. The rates are based on no claims or driving citations, full coverage, $500 deductibles, marital status is single, and no discounts are applied to the premium.

Full coverage rates compared to liability-only

The chart below shows the comparison of Ford Expedition insurance prices when comparing full coverage to liability only. The data is based on no claims or driving violations, $1,000 deductibles, drivers are not married, and no other discounts are factored in.

When to drop comprehensive and collision coverage

There isn’t a written rule for phasing out physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than about 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s say your Ford Expedition claim settlement value is $3,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $2,000 after the policy deductible has been paid. If you are paying over $200 a year for your policy with full coverage, the it may be a good time to stop paying for full coverage.

There are some situations where dropping physical damage coverage is not advised. If you still owe a portion of the original loan, you have to maintain full coverage to protect the lienholder’s interest. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.

Don’t neglect these nine rate reducing discounts

Companies that sell car insurance don’t always list every discount they offer very clearly, so we researched some of the best known as well as the least known credits that may apply to you.

• Paperwork-free – Many companies will give you a small discount for completing your application on the web.
• Active Military Service – Being on active duty in the military could qualify you for better premium rates.
• Theft Deterrent – Cars, trucks, and SUVs with anti-theft systems are less likely to be stolen and will qualify for a discount on a Anchorage car insurance quote.
• Passive Restraints – Factory options such as air bags and/or automatic seat belt systems could see savings of up to 25% or more.
• Senior Citizen Discount – If you qualify as a senior citizen, you can get reduced rates.
• Discount for Good Grades – Maintaining excellent grades may save as much as 25% on a Anchorage car insurance quote. This discount can apply up until you turn 25.
• Discount for Home Ownership – Owning a house in Anchorage can help you save on auto insurance because of the fact that having a home is proof that your finances are in order.
• Life Insurance – If the company offers life insurance, you could get a discounted premium rate on car insurance if you buy some life insurance in addition to your auto policy.
• Government Employee Discount – Simply working for the federal government may reduce rates when you quote Anchorage car insurance with certain companies.

One last thing about discounts, most of the big mark downs will not be given to all coverage premiums. The majority will only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So despite the fact that it appears it’s possible to get free car insurance, companies don’t profit that way.

The illustration below visualizes the comparison of Ford Expedition insurance prices with and without discounts applied to the policy premium. The rates are based on a female driver, no claims or driving violations, Alaska state minimum liability limits, full coverage, and $500 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with multi-car, claim-free, safe-driver, multi-policy, homeowner, and marriage discounts applied.

Larger auto insurance companies and their offered discounts are detailed below.

• Farm Bureau may include discounts for multi-policy, multi-vehicle, good student, 55 and retired, safe driver, youthful driver, and renewal discount.
• Liberty Mutual offers premium reductions for newly married, multi-car, teen driver discount, safety features, and preferred payment discount.
• State Farm may have discounts that include driver’s education, good student, passive restraint, multiple policy, safe vehicle, and defensive driving training.
• Auto-Owners Insurance has savings for mature driver, multiple vehicles, good student, anti-theft, company car, air bags, and anti-lock brakes.
• GEICO discounts include multi-vehicle, multi-policy, emergency military deployment, federal employee, and good student.
• SAFECO policyholders can earn discounts including safe driver, accident prevention training, anti-lock brakes, drive less, anti-theft, bundle discounts, and teen safety rewards.

Before purchasing a policy, check with all companies you are considering the best way to save money. Depending on the company, some discounts may not apply to policies in Anchorage. To view providers that offer some of these discounts in Alaska, click this link.