Who Has Affordable Anchorage Auto Insurance Rates for Teenage Males?

The car, truck, or SUV to be insured is probably the largest consideration when comparing the most economical auto insurance for teenage males. Vehicles with average performance, advanced safety features, or low incidents of liability claims will cost significantly less to insure than higher performance models.

The next table features coverage prices for some of the most economical automobiles to buy coverage for.

Cheapest Vehicles to Insure in Anchorage, AK
Insured Vehicle Estimated Cost for Full Coverage
Ford Escape XLT 2WD $5,577
Honda CR-V EX-L 4WD $5,635
Toyota Prius $6,059
Ford F-150 XL Super Cab 2WD $6,197
Ford Explorer XLT 2WD $6,255
Ford Edge SE AWD $6,563
Honda Odyssey EX $6,569
Dodge Grand Caravan Hero $6,621
Toyota RAV4 Sport 4WD $6,629
Volkswagen Jetta LE 4-Dr Sedan $6,621
Jeep Grand Cherokee Laredo 4WD $6,631
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $6,679
Hyundai Elantra Blue 4-Dr Sedan $6,928
Chevrolet Impala LTZ $6,987
Toyota Camry SE $6,997
Toyota Corolla XRS $7,045
Chevrolet Equinox LTZ AWD $7,053
GMC Sierra 2500HD SLE Regular Cab 4WD $7,045
Chevrolet Silverado 2500HD LT Crew Cab 4WD $7,053
Chevrolet Malibu LTZ $7,045
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Prices above based on single male driver age 17, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Alaska minimum liability limits. Discounts applied include safe-driver, and claim-free. Rate information does not factor in specific Anchorage, AK garaging location which can impact auto insurance rates noticeably.

Looking at the rates, we can assume that makes and models like the Ford Escape, Honda CR-V, Toyota Prius, and Ford F-150 are going to be the more affordable vehicles to insure for teen boys. The cost of a car insurance policy will tend to be more expensive anyway because of the fact that there is more claim risk for teenage males, but overall those models will tend to have the cheapest auto insurance rates compared to other vehicles.

Finding decent, budget insurance is not always easy, and finding out which company has the best insurance rates for teenage males will take even more diligence. Every insurance company has a different formula to set premium rates, so to begin we’ll rank the overall cheapest insurance companies in Anchorage, AK.

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What’s the cheapest car insurance in Alaska?
Rank Company Cost Per Year
1 Umialik $865
2 USAA $957
3 State Farm $995
4 Progressive $1,260
5 GEICO $1,962
6 Allstate $2,374
7 Safeco $2,501
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Umialik quotes some of the cheapest car insurance rates in Anchorage at around $865 per year. USAA, State Farm, Progressive, and GEICO also make the cut as some of the more affordable Anchorage, AK insurance companies.

In the rate table above, if you have coverage with Progressive and switched to Umialik, you could realize an annual premium reduction of in the neighborhood of $395. Drivers with GEICO could save as much as $1,097 a year, and Allstate customers might reduce rates by $1,509 a year.

Understand that those policy rates are averaged for all types of drivers and the different vehicles they drive and are not factoring in a specific location for teenage males. So the car insurance company that can offer you the best rate may not even be in the list above. That affirms the importance of why you need to get auto insurance quotes using your own driver information and specific vehicle type.

For teen boys, one of the more important criteria that are used to help calculate car insurance rates is where you call home in Anchorage. Areas with increased crime or more people tend to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims have the benefit of cheaper car insurance.

The following table rates the most costly cities in Alaska for teenage males to buy auto insurance in. Anchorage shows up at #3 with an annual cost of $1,269 on average, which is about $106 monthly.

How much does auto insurance cost in Anchorage?
Rank City Average Per Year
1 Fairbanks $1,284
2 College $1,270
3 Anchorage $1,269
4 Meadow Lakes $1,265
5 Palmer $1,252
6 Wasilla $1,228
7 Nikiski $1,226
8 Kenai $1,202
9 Sterling $1,202
10 Homer $1,190
11 Kodiak $1,167
12 Ketchikan $1,055
13 Sitka $997
14 Juneau $969
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Rate information is comparative as specific Anchorage garaging address can alter premium rates significantly.

Full coverage or liability only

Lowering the price of insurance is important to the majority of people, and a great way to find cheaper insurance for teenage males is to only buy liability insurance. The chart below illustrates the difference between insurance prices with liability coverage only compared to full coverage. The information is based on no accidents or driving violations, $1,000 deductibles, drivers are single, and no other discounts are factored in.

Averaged for all ages 20 through 70, comp and collision coverage costs $1,243 per year more than carrying just liability coverage. That raises the question if paying for full coverage is a waste of money. There isn’t a written rule for dropping comprehensive and collision coverage on your policy, but there is a general school of thought. If the yearly cost of comp and collision coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then you might consider buying liability only.

For example, let’s say your vehicle’s settlement value is $10,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company would pay you is $9,000 after paying the physical damage deductible. If you are currently paying more than $900 a year to have full coverage, then it’s probably a good time to buy liability coverage only.

Get discount Anchorage car insurance

Insurance for teen boys in Anchorage, AKInsurance companies that provide coverage for teenage males may additionally offer discounts that can reduce rates by 30% or more if you meet the requirements. A list of insurance companies and their offered discounts can be found below.

The information below illustrates the comparison of car insurance rates with and without policy discounts. The information is based on a female driver, no claims or driving violations, 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 bar shows the rates with paperless filing, vehicle safety, continuous coverage, anti-theft, good student, and paid-in-full discounts applied. When these discounts are applied to the policy premium, theaverage yearly reduction on insurance for teenage males is 28% or $386.

Ending up with a highly-rated insurer is hard considering how many companies sell insurance in Alaska. The information in the lists below can help you pick which auto insurers to look at purchasing from. These rankings only include the largest companies in the United States, so smaller regional companies are not factored into the list.

Top 10 Major Car Insurance Companies Overall in Anchorage

  1. USAA
  2. American Family
  3. State Farm
  4. The Hartford
  5. AAA Insurance
  6. GEICO
  7. The General
  8. Progressive
  9. Allstate
  10. Liberty Mutual

Can you find cheaper Anchorage car insurance?

Anchorage, AK insurance rates are calculated based on many things that control your annual premium. Simply turning a year older, buying higher coverage limits, or getting into an accident can trigger price changes that can make some companies cheaper than competitors.

Not only that, but car insurance companies modify rates as often as every quarter in order to remain profitable. An extended period of higher than normal claims can cause higher rates, while lower claims can result in cheaper Anchorage car insurance rates.

To illustrate this example, the graph below shows which companies have the cheapest car insurance in Anchorage, AK for a 40-year-old female driver with no prior claims, no tickets, and good financial standing. When quoting prices based on her current rating profile, Umialik quotes the best car insurance rates in Anchorage at $1,182 annually. This is $361 less than the average price paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO are also on the list of the cheapest Anchorage, AK auto insurance companies.

The next chart shows rates after we give the driver from the first set of rates a claim or two, a lower credit rating, and a few blemishes on her driving record. Since each company has a different process to set policy rates, comparing prices could result in a slightly different list of companies as shown below.

USAA now has the cheapest insurance rate in Anchorage, AK with State Farm, Umialik, Progressive, and Safeco completing the list. This example demonstrates why it is so important to shop around with many companies to get cheap auto insurance rates for teenage males.

Insurance prices can be determined by many risk factors and can increase or decrease at any time, so the best company the last time you checked may now be one of the higher cost companies.

If you would rather have a little guidance when shopping for the best coverage for teenage males, the insurance agencies listed below are a good start to help you determine which coverages you need. To find an Anchorage insurance agency nearest to you, click the button at the bottom of the list.

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