It takes a little time, but the best way to save on auto insurance rates in Anchorage is to compare quotes annually from providers that insure vehicles in Alaska.
- Step 1: Try to learn about what is in your policy and the measures you can control to prevent expensive coverage. Many risk factors that result in higher prices like traffic citations and a lousy credit rating can be eliminated by improving your driving habits or financial responsibility.
- Step 2: Request rate estimates from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from a single company like Progressive or State Farm, while independent agents can provide rate quotes for many different companies.
- Step 3: Compare the quotes to your existing policy to see if switching to a new carrier will save money. If you can save some money and buy the policy, make sure coverage does not lapse between policies.
The most important part of this process is to make sure you enter the same physical damage deductibles and liability limits on every quote and and to get price estimates from every insurance company. Doing this enables the most accurate price comparison and the best price quote selection.
It’s a known fact that insurance companies don’t want you to compare rates. Consumers who get comparison quotes at least once a year will probably buy a different policy because there is a high probability of finding better rates. A survey found that consumers who compared price quotes annually saved on average $850 each year compared to people who never shopped around for lower prices.
If finding budget-friendly rates on Jeep Patriot insurance is why you’re here, then having an understanding of how to find companies and compare insurance premiums can make it easier to find better rates.
The following companies are ready to provide quotes in Alaska. If you want to find cheap car insurance in AK, it’s a good idea that you compare several of them to find the cheapest auto insurance rates.
Auto insurance statistics for a Jeep Patriot
The information displayed below highlights estimates of policy rates for Jeep Patriot models. Being able to understand how insurance prices are figured helps drivers make smart choices when choosing a car insurance company.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Patriot Sport 2WD | $128 | $230 | $308 | $18 | $92 | $776 | $65 |
| Patriot Sport 4WD | $128 | $230 | $308 | $18 | $92 | $776 | $65 |
| Patriot Limited 2WD | $146 | $280 | $308 | $18 | $92 | $844 | $70 |
| Patriot Limited 4WD | $146 | $280 | $308 | $18 | $92 | $844 | $70 |
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Table data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Price information does not factor in zip code location which can lower or raise prices noticeably.
Male drivers versus female drivers
The information below shows the comparison of Jeep Patriot annual premium costs for male and female drivers. The information is based on no accidents, no driving violations, full physical damage coverage, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
Difference between full coverage and liability only rates
The chart below illustrates the difference between Jeep Patriot car insurance costs with full coverage and liability only. The information is based on no claims or driving citations, $500 deductibles, marital status is single, and no discounts are factored in.
When to drop comp and collision
There is no written rule to drop physical damage insurance, but there is a general guideline you can use. If the annual cost of your full coverage insurance is about 10% or more of the replacement cost of your vehicle minus the policy deductible, then it might be time to consider dropping full coverage.
For example, let’s assume your Jeep Patriot book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, you would only receive $8,000 after the policy deductible has been paid. If premium cost is more than $800 a year for your policy with full coverage, then you may need to consider dropping full coverage.
There are some circumstances where dropping physical damage coverage is not in your best interest. If you haven’t paid off your loan, you have to carry full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle in the even your car is totaled, you should not drop full coverage.
Smart Consumers Can Lower Their Insurance Premiums
Many things are part of the calculation when pricing auto insurance. Some factors are common sense like a motor vehicle report, but other criteria are more obscure like your continuous coverage or how safe your car is.
The list below includes some of the items auto insurance companies consider when setting your rate level.
- Annual mileage impacts rates – Driving more miles in a year’s time the higher your rate. Many insurance companies rate vehicles based upon how much you drive. Cars and trucks that have low annual miles receive lower rates compared to those used for work or business. Ask your agent if your auto insurance policy states the correct driver usage. A policy that improperly rates your Patriot can result in significantly higher rates.
- Liability is cheap – The liability section of your policy is the coverage that protects you if you are found liable for damages from an accident. It provides legal defense which can cost thousands of dollars. It is affordable coverage compared to insuring for physical damage coverage, so drivers should carry high limits.
- Cut premiums and deter theft – Choosing to buy a car with advanced anti-theft systems can help lower your rates. Systems that thwart thieves such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all help prevent car theft.
- Use but don’t abuse your insurance – If you file claims often, you can expect either policy cancellation or increased premiums. Companies in Alaska provide discounts to policyholders who file claims infrequently. Your insurance policy is intended to be relied upon for claims that pose a financial burden.
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Insurance loss statistics a Jeep Patriot – Insurance companies use statistical claims data in order to profitably underwrite each model. Vehicles that are shown to have high amounts or severity of claims will have higher rates.
The next table shows the actual insurance loss data for Jeep Patriot vehicles. For each policy coverage type, the claim amount for all vehicles averaged together is considered to be 100. Numbers under 100 represent a good loss history, while values over 100 indicate a higher chance of having a claim or tendency to have larger claims.
Insurance Loss Ratings for Jeep Patriot Vehicles Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Jeep Patriot 4dr 2WD 80 139 65 123 121 140 Jeep Patriot 4dr 4WD 73 121 67 98 100 111 BETTERAVERAGEWORSEData Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Three reasons to insure your Jeep Patriot
Even though Anchorage Patriot insurance rates can get expensive, insurance may be required for several reasons.
First, most states have minimum mandated liability insurance limits which means you are required to buy specific minimum amounts of liability 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.
Second, if your Jeep Patriot has a loan, more than likely the lender will force you to have full coverage to ensure loan repayment if the vehicle is totaled. If you default on your policy, the lender will be forced to insure your Jeep at an extremely high rate and force you to reimburse them for the expensive policy.
Third, auto insurance protects both your Jeep Patriot and your assets. Insurance will also pay for medical transport and hospital expenses for both you and anyone you injure as the result of an accident. As part of your policy, liability insurance also pays expenses related to your legal defense if you cause an accident and are sued. If your Jeep gets damaged, comprehensive (other-than-collision) and collision coverage will pay to repair the damage.
The benefits of buying auto insurance definitely exceed the price paid, especially with large liability claims. In a recent study of 1,000 drivers, the average customer is wasting up to $700 annually so compare rate quotes each time the policy renews to help ensure money is not being wasted.