Who Has Affordable Anchorage Car Insurance Quotes for High School Students?

Deciphering which company quotes the best car insurance rates for high school students may require a bit more effort in order to find the lowest price. Each insurer has a unique formula for setting rates, so let’s take a look at the car insurance companies with the most affordable rates in Anchorage, AK.

It’s important that you understand Anchorage, AK car insurance rates are calculated based on many things which can significantly increase or decrease the price of coverage. Simply having a birthday, having a claim, or getting a ticket for careless driving may cause policy rate changes that can cause some rates to be cheaper than others.

Best Car Insurance Prices for Students

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Alaska auto insurance company rankings
Rank Company Cost Per Year
1 Umialik $892
2 USAA $957
3 State Farm $965
4 Progressive $1,210
5 GEICO $1,905
6 Allstate $2,327
7 Safeco $2,426
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Umialik generally has some of the most affordable car insurance rates in Anchorage at around $892 annually. This is $651 less than the average premium paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO would also be considered some of the best Anchorage, AK insurance companies.

As the example above demonstrates, if you are a policyholder with GEICO and switched to USAA, you may see an annual premium reduction of in the neighborhood of $948. Insureds with Allstate might save as much as $1,370 a year, and Safeco policyholders might see rate reductions of $1,469 a year.

Understand that those policy prices are averaged across all drivers and vehicles in Alaska and do not factor in a specific location for high school students. So the company that is most affordable for your situation may not even be in the list above. That points out the importance of why you need to get quotes using your own individual information.

The type of vehicle needing coverage is one of the main factors that determines whether or not you can buy economical insurance for high school students. Vehicles with economical engines, a plethora of safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than high performance models. The table below outlines car insurance rates for the cheapest automobiles to buy coverage for.

Cheapest Vehicles to Insure in Anchorage, AK
Insured Vehicle Estimated Cost for Full Coverage
Honda CR-V EX 4WD $4,982
Ford Escape Limited 4WD $5,294
Toyota Prius $5,344
Chevrolet Impala LS $5,808
Honda Odyssey EX $5,814
Ford Focus SE 4-Dr Sedan $5,808
Chevrolet Malibu LS $5,856
Toyota RAV4 Limited 2WD $5,864
Chevrolet Equinox LS AWD $5,856
Ford F-150 SVT Raptor Super Cab 4WD $5,905
Ford Explorer Eddie Bauer AWD $5,915
Dodge Grand Caravan Crew $5,905
Honda Civic VP 4-Dr Sedan $6,121
Hyundai Elantra Blue 4-Dr Sedan $6,129
Toyota Corolla XLE $6,168
Ford Edge Sport 2WD $6,175
Toyota Tacoma X-Runner 2WD $6,168
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Data assumes single female 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. Estimates do not factor in specific location information which can raise or lower premium rates greatly.

Looking at the rates, makes and models like the Honda CR-V, Ford Escape, Toyota Prius, and Chevrolet Impala are a few of the most economical vehicles to insure for teenagers. Rates will tend to be higher just because there is more exposure for high school students, but generally speaking those specific models will most likely have the least expensive rates compared to other types of vehicles.

One of the many considerations that are looked at to help calculate auto insurance rates is where you live in Anchorage. More densely populated places tend to have more expensive auto insurance rates, whereas areas with less people or fewer weather incidents have the enjoyment of a little cheaper coverage.

The next table shows the highest-priced areas in Alaska for high school students in which to purchase auto insurance. Anchorage comes in at #2 with an annual premium of $1,295 for car insurance, which is around $108 per month.

Car insurance prices in Anchorage
Rank City Annual Premium
1 Meadow Lakes $1,304
2 Anchorage $1,295
3 Palmer $1,291
4 College $1,270
5 Wasilla $1,266
6 Homer $1,238
7 Kenai $1,238
8 Fairbanks $1,234
9 Sterling $1,226
10 Nikiski $1,226
11 Kodiak $1,167
12 Ketchikan $1,035
13 Juneau $1,009
14 Sitka $997
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Prices are approximated as the specific geographic location can affect rates noticeably.

Full coverage or liability only

Saving money on car insurance should be important to the majority of drivers, and one great way to buy cheaper insurance for high school students is to buy liability only. The example below shows the comparison of insurance premiums with and without full coverage. The premiums are based on a clean driving record, no claims, $1,000 deductibles, single status, and no other discounts are factored in.

Averaged out for all age groups, full coverage costs an extra $1,550 per year more than just buying liability insurance. That may make you wonder if buying full coverage is a good investment. There is no written rule to drop full coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is more than about 10% of the vehicle’s replacement cost less your deductible, then you may need to consider dropping full coverage.

Bad driving habits will cost you more

One of the best ways to score the cheapest car insurance rates for teenagers is to drive attentively and avoid traffic citations and accidents. The information below illustrates how violations and at-fault fender-benders can increase car insurance costs for each age group. The rate quotes are based on a married male driver, full coverage, $100 deductibles, and no discounts are applied to the premium.

In the previous chart, the average cost of auto insurance per year with no accidents or violations is $1,784. Receive two speeding tickets and the average cost rises to $2,471, an increase of $687 each year. Now throw in one accident along with the two speeding tickets and the 12-month cost of car insurance for high school students increases to an average of $3,173. That’s an increase of $1,389, or $116 per month, just for a couple of infractions!

Get discounts on Anchorage car insurance

Save on car insurance for teenagers in AnchorageCar insurance companies that offer coverage for high school students may also give you policy discounts that could reduce prices by as much as 40% or more if you qualify for them. Large car insurance companies and the discounts they provide are outlined below.

The chart below illustrates the comparison of yearly insurance costs with and without some available policy discounts. The costs are based on a male driver, a clean driving record, no at-fault accidents, Alaska state minimum liability limits, comprehensive and collision coverage, and $500 deductibles.

The first bar for each age group shows insurance cost with no discounts. The second shows the rates with paid-in-full, good student, anti-theft, vehicle safety, continuous coverage, and passive restraint discounts applied. In this example, theaverage amount saved on car insurance for high school students is 28% or $615.

How to find economical insurance for high school students

The list below shows some penny-pinching suggestions that can help drivers buy more affordable car insurance.

That last idea is extremely critical, as we hit on in the prior article. Car insurance prices fluctuate constantly, so drivers shouldn’t be resistant to buy from a new company if you can save money. Having a favorite company is fine, but we do not recommend it if that inflexibility results in costing you several hundred dollars every year. Take a few minutes and shop around to find cheaper car insurance for high school students in Anchorage.