If saving the most money is your goal, then the best way to save money on car insurance rates in Anchorage is to start doing a yearly price comparison from insurers who sell insurance in Alaska. Rates can be compared by following these guidelines.
- Step 1: Read about coverages and the steps you can take to prevent rate increases. Many factors that drive up the price like careless driving and a poor credit rating can be remedied by making minor changes to your lifestyle. Read the full article for tips to get lower rates and find overlooked discounts.
- Step 2: Quote rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only provide price estimates from a single company like Progressive or Farmers Insurance, while agents who are independent can provide price quotes for a wide range of companies.
- Step 3: Compare the new rates to your existing rates to see if switching to a new carrier will save money. If you can save money and change companies, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Step 4: Provide written notification to your current company to cancel the current policy and submit a completed application and payment to the new company. As soon as coverage is bound, safely store the certificate of insurance in a readily accessible location in your vehicle.
The key thing to remember is that you’ll want to make sure you compare similar deductibles and liability limits on every quote request and to quote with as many different companies as possible. This enables an accurate price comparison and the best rate selection.
It’s safe to conclude that insurance companies want to prevent you from shopping around. Consumers who compare rates annually will probably buy a new policy because they have a good chance of finding more affordable rates. A study discovered that drivers who routinely compared rates saved $865 a year as compared to drivers who never compared prices.
If saving the most money on Honda Element insurance is the reason you’re here, then learning about how to quote and compare coverage rates can make it easier to find better rates.
Buy Anchorage Honda Element insurance online
The car insurance companies shown below are our best choices to provide quotes in Anchorage, AK. To buy the best cheap car insurance in Anchorage, AK, it’s highly recommended you visit as many as you can to find the most affordable car insurance rates.
Rates and information analytics
The premium information displayed next outlines estimates of coverage prices for Honda Element models. Learning how insurance premiums are established can help you make smart choices when buying a policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Element LX 2WD||$112||$218||$308||$18||$92||$748||$62|
|Element LX 4WD||$112||$218||$308||$18||$92||$748||$62|
|Element EX 2WD||$112||$218||$308||$18||$92||$748||$62|
|Element EX 4WD||$112||$218||$308||$18||$92||$748||$62|
|Element SC 2WD||$112||$218||$308||$18||$92||$748||$62|
|Get Your Own Custom Quote Go|
Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, safe-driver, homeowner, multi-policy, and claim-free. Prices do not factor in the specific area where the vehicle is garaged which can change insurance rates noticeably.
Three good reasons to insure your Honda Element
Even though it can be expensive, insurance may be required for several reasons.
- Just about all states have minimum mandated liability insurance limits which means the state requires a minimum amount of liability protection if you drive a vehicle. 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 your Honda Element has a lienholder, almost every bank will stipulate that you carry insurance to guarantee loan repayment. If the policy lapses, the bank will be required to insure your Honda at a much higher premium rate and require you to pay for it.
- Insurance preserves your vehicle and your assets. It will also cover many types of medical costs for yourself as well as anyone injured by you. As part of your policy, liability insurance also covers all legal expenses up to the policy limit if you cause an accident and are sued. If damage is caused by hail or an accident, collision and comprehensive coverages will cover the damage repairs after a deductible is paid.
The benefits of buying insurance outweigh the cost, particularly for liability claims. The average driver in America is overpaying over $855 a year so we recommend shopping around once a year at a minimum to help ensure money is not being wasted.
Cheaper Honda Element insurance in Anchorage
Auto insurance is not inexpensive, but you may qualify for discounts that could help you make your next renewal payment. Certain credits will be shown when you purchase, but a few must be asked for before you will receive the discount.
- Good Grades Discount – Excelling in school can get you a discount of up to 25%. The good student discount can last well after school through age 25.
- Onboard Data Collection – Drivers that enable companies to analyze their driving habits by using a small device installed in their vehicle such as State Farm’s In-Drive might get better premium rates if they exhibit good driving behavior.
- Discounts for Good Drivers – Drivers who don’t get into accidents can pay as much as 50% less than drivers with accident claims.
- Multi-Vehicle Discounts – Insuring multiple cars or trucks with the same auto insurance company can reduce the rates for all insured vehicles.
- Early Payment Discounts – If you pay your bill all at once instead of making monthly payments you could save 5% or more.
- Early Signing – A few larger companies allow discounts for switching policies before your current Element insurance policy expires. Ten percent is about the average savings.
Please keep in mind that most discount credits are not given to the entire cost. The majority will only reduce the price of certain insurance coverages like physical damage coverage or medical payments. Even though it may seem like all the discounts add up to a free policy, companies don’t profit that way.
The information below visualizes the comparison of Honda Element auto insurance costs with and without discounts. The premiums assume a female driver, no claims or driving citations, Alaska state minimum liability limits, comprehensive and collision coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, multi-car, marriage, claim-free, and multi-policy discounts applied.
Larger auto insurance companies and a partial list of their discounts can be found below.
- Mercury Insurance offers discounts for professional/association, accident-free, location of vehicle, low natural disaster claims, good driver, ease of repair, and anti-theft.
- Farmers Insurance may offer discounts for good student, business and professional, alternative fuel, mature driver, and homeowner.
- Farm Bureau may include discounts for driver training, 55 and retired, good student, youthful driver, multi-vehicle, renewal discount, and multi-policy.
- State Farm offers premium reductions for defensive driving training, multiple policy, accident-free, Drive Safe & Save, and good driver.
- Allstate includes discounts for 55 and retired, teenSMART discount, multi-policy, economy car, anti-theft, and farm vehicle.
- GEICO has discounts for five-year accident-free, anti-theft, emergency military deployment, membership and employees, multi-policy, military active duty, and federal employee.
Double check with every company which discounts they offer. Depending on the company, some discounts might not be offered everywhere. For a list of insurers offering auto insurance discounts in Anchorage, click this link.
Tailor your insurance coverage to you
Always keep in mind that when comparing your policy, there is no one size fits all plan. Everyone’s needs are different.
For example, these questions may help highlight whether you would benefit from an agent’s advice.
- Are my custom wheels covered?
- Can I drive in Mexico and have coverage?
- Can good grades get a discount?
- Are my tools covered if they get stolen from my vehicle?
- Do I need to call my car insurance company before buying a new car?
- Do I really need UM/UIM coverage?
- What policy terms are available?
- Who sells insurance for high-risk drivers?
If you’re not sure about those questions but a few of them apply, then you may want to think about talking to a licensed insurance agent. If you don’t have a local agent, complete this form. It’s fast, doesn’t cost anything and can help protect your family.
Compare prices but buy from a local neighborhood Anchorage car insurance agent
Many drivers just prefer to buy from a licensed agent. Agents can answer important questions and help submit paperwork. A nice benefit of getting online price quotes is that drivers can save money and get cheap insurance quotes and also buy local.
To help locate an agent, after submitting this short form, your coverage information is instantly submitted to local insurance agents that give free quotes for your business. You won’t need to visit any agencies since rate quotes are delivered directly to your email. If you need to compare prices from a specific insurance company, just visit that company’s website and fill out the quote form the provide.
Finding a good insurer shouldn’t rely on just a cheap price. Before buying a policy in Anchorage, get answers to these questions.
- What are the financial ratings for the companies they represent?
- Where would glass claims be handled in Anchorage?
- Which members of your family are coverage by the policy?
- Does the quote include credit and driving reports?
- Will the agent or a CSR service your policy?
Car insurance policy coverages for a Honda Element
Understanding the coverages of your policy can be of help when determining the right coverages at the best deductibles and correct limits. Policy terminology can be confusing and nobody wants to actually read their policy.
Uninsured or underinsured coverage – Your UM/UIM coverage gives you protection when other motorists either have no liability insurance or not enough. This coverage pays for injuries to you and your family and damage to your Honda Element.
Since many Alaska drivers carry very low liability coverage limits (50/100/25 in Alaska), it doesn’t take a major accident to exceed their coverage limits. For this reason, having high UM/UIM coverages is important protection for you and your family.
Liability insurance – This coverage provides protection from injuries or damage you cause to a person or their property. Split limit liability has three limits of coverage: bodily injury for each person injured, bodily injury for the entire accident and a property damage limit. You might see values of 50/100/25 which means $50,000 in coverage for each person’s injuries, a total of $100,000 of bodily injury coverage per accident, and $25,000 of coverage for damaged property.
Liability coverage pays for claims like bail bonds, repair costs for stationary objects, emergency aid, court costs and structural damage. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as much as you can afford. Alaska state minimum liability requirements are 50/100/25 but it’s recommended drivers buy higher limits.
The next chart shows why low liability limits may not provide you with enough coverage.
Medical expense coverage – Coverage for medical payments and/or PIP provide coverage for short-term medical expenses for chiropractic care, funeral costs, hospital visits and X-ray expenses. They are utilized in addition to your health insurance policy or if you lack health insurance entirely. It covers not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay
Comprehensive protection – This coverage will pay to fix damage OTHER than collision with another vehicle or object. You first must pay your deductible and then insurance will cover the rest of the damage.
Comprehensive coverage pays for things such as hitting a deer, damage from getting keyed and rock chips in glass. The highest amount you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Collision – This pays to fix your vehicle from damage resulting from a collision with another vehicle or an object, but not an animal. You will need to pay your deductible and then insurance will cover the remainder.
Collision can pay for claims like damaging your car on a curb, hitting a parking meter, backing into a parked car and hitting a mailbox. Collision coverage makes up a good portion of your premium, so consider removing coverage from lower value vehicles. You can also increase the deductible on your Element to bring the cost down.
Quote. Compare. Save.
As you shop your coverage around, it’s very important that you do not buy poor coverage just to save money. In many instances, consumers will sacrifice liability limits or collision coverage only to regret that the savings was not a smart move. Your goal should be to find the BEST coverage at an affordable rate while not skimping on critical coverages.
Consumers change insurance companies for many reasons like extreme rates for teen drivers, delays in responding to claim requests, denial of a claim or questionable increases in premium. No matter why you want to switch, choosing a new insurance company is pretty easy and you might even save some money in the process.
We just presented a lot of techniques to shop for Honda Element insurance online. It’s most important to understand that the more times you quote, the better likelihood of getting affordable Anchorage auto insurance quotes. You may even find the most savings is with a small mutual company.
More information can be found at these links:
- Learn About Car Insurance (GEICO)
- Who Has Cheap Anchorage Auto Insurance for Uber Drivers? (FAQ)
- Who Has Affordable Car Insurance Rates for a Ford F-150 in Anchorage? (FAQ)
- Who Has Cheap Auto Insurance for a Toyota Corolla in Anchorage? (FAQ)
- Who Has Affordable Car Insurance Rates for a 20 Year Old Female in Anchorage? (FAQ)
- How Much are Auto Insurance Quotes for a Hyundai Santa Fe in Anchorage? (FAQ)
- How Much is Car Insurance for Good Drivers in Anchorage? (FAQ)
- Car Insurance for Teen Drivers with Divorced Parents (Allstate)
- Alcohol Impaired Driving FAQ (iihs.org)