You have probably watched the catchy advertisements from companies like State Farm and GEICO that claim the cheapest price, so drivers should just pick the company with the cutest commercial, right?
Unfortunately, it’s just not that easy, as there are a lot of unknowns like if you need full coverage or liability-only, the number of miles you drive each year, and what physical damage coverage deductibles you want, that all have an effect on the price of a policy. The information below will cover the best ways to pay less and also should give you a good start in finding the cheapest car insurance in Alaska.
For teachers and educators, one of the more important considerations that are looked at to help calculate insurance cost is where your car is garaged. More populated areas tend to pay more, whereas areas with lower crime rates and fewer weather claims benefit from lower rates.
The information below ranks the highest-priced places in Alaska for teachers to purchase auto insurance in. Anchorage makes the list at #1 with an annual rate of $1,308 for coverage, which is approximately $109 per month.
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Rates are comparative as the specific area where the vehicle is garaged can lower or raise prices substantially.
Comparing quotes for budget car insurance is not the easiest thing to accomplish, and deciding which company offers the lowest-priced insurance rates for teachers involves even more work. Every car insurance company uses a slightly different approach for determining prices, so we’ll go over the insurance companies with the overall best prices in Anchorage, AK.
It’s important to know that Anchorage insurance rates are impacted by many things that will increase or decrease the policy price. This price fluctuation is why consumers need to take the time to perform an extensive rate comparison when trying to find the most economical auto insurance quotes for teachers. Insurance rates can be determined by many different factors and change dramatically, so the best price the last time you checked may now be quite expensive.
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|Rank||Company||Cost Per Year|
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Umialik quotes some of the most affordable car insurance rates in Anchorage at around $901 a year. This is $642 less than the average policy premium paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO are also some of the most economical Anchorage, AK auto insurance companies.
In the above rates, if you are a customer of Progressive and switched to USAA, you could see yearly savings of approximately $281. Customers with GEICO may save as much as $976 a year, and Allstate policyholders might reduce prices by as much as $1,398 a year.
To find the cheapest coverage for you, click here or quote prices from the following companies.
Bear in mind that those prices are averaged across all drivers and vehicles and do not factor in an exact zip code location for teachers. So the auto insurance company that can offer you the lowest price may not even be in the list above. That is why you need to get car insurance quotes using your own specific driver information and vehicle.
The make and model of vehicle you are seeking coverage for is a large factor when shopping for the best cheap car insurance for teachers. Vehicles with lots of horsepower, a lack of safety features, or high incidents of liability claims will cost significantly more to insure than safer, lower-performance models.
The next table outlines auto insurance premiums for a selection of the most cost-effective automobiles to insure in Alaska.
|Make, Model, and Trim Level||Estimated Cost for Full Coverage|
|Ford Escape XLT 2WD||$1,393|
|Honda CR-V LX 2WD||$1,402|
|Honda Accord LX 4-Dr Sedan||$1,393|
|Ford F-150 XLT Regular Cab 2WD||$1,532|
|Nissan Altima 2.5 4-Dr Sedan||$1,650|
|Ford Fusion S 4-Dr Sedan||$1,657|
|Ford Explorer Limited 4WD||$1,682|
|Jeep Wrangler Unlimited Sahara 2WD 4-Dr||$1,709|
|Ford Edge Sport AWD||$1,736|
|Hyundai Elantra GLS 4-Dr Sedan||$1,742|
|Jeep Grand Cherokee SRT-8 4WD||$1,768|
|Chevrolet Silverado LT Crew Cab 4WD||$1,774|
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Data rating is based on single female driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Premium costs do not factor in specific Anchorage, AK garaging location which can influence rates noticeably.
Based upon the table data, you can see that models like the Ford Escape, Honda CR-V, Honda Accord, and Ford F-150 should be the most affordable vehicles to insure for teachers and educators.
Discount Anchorage auto insurance
Insurance providers that offer cheap quotes for teachers may have price discounts that can reduce rates by as much as 25% or more if you qualify. Larger insurance companies and their possible discounts can be read below.
- GEICO offers premium reductions for daytime running lights, anti-theft, air bags, seat belt use, five-year accident-free, and federal employee.
- Travelers has discounts for hybrid/electric vehicle, multi-policy, continuous insurance, early quote, and student away at school.
- Nationwide discounts include Farm Bureau membership, multi-policy, good student, family plan, and easy pay.
- Farmers Insurance has savings for mature driver, bundle discounts, electronic funds transfer, homeowner, and good student.
- Esurance policyholders can earn discounts including online quote, homeowner, Switch & Save, multi-policy, defensive driver, and paid-in-full.
- State Farm may include discounts for Steer Clear safe driver discount, Drive Safe & Save, driver’s education, multiple autos, multiple policy, and good student.
- Progressive may offer discounts for online signing, multi-policy, multi-vehicle, homeowner, online quote discount, and good student.
- Mercury Insurance may have discounts that include multi-policy, location of vehicle, good driver, multi-car, age of vehicle, and anti-theft.
The diagram below shows the difference between auto insurance costs with and without discounts being applied to the rates. The prices are based on a male driver, a clean driving record, no claims, Alaska state minimum liability limits, comp and collision included, and $1,000 deductibles.
The first bar for each age group shows the average rate with no discounts. The second shows the rates with anti-theft, passive restraint, homeowner, claim-free, safe-driver, and vehicle safety discounts applied. When drivers take advantage of discounts, theaverage yearly reduction on insurance for teachers is 28% or $318.
Cost difference between full coverage and liability
Saving money when shopping for insurance is important to the majority of drivers, and one common way to reduce the cost of insurance for teachers is to only buy liability insurance. The information below shows the comparison of yearly insurance costs with liability coverage only compared to full coverage. The premium estimates are based on a clean driving record, no at-fault accidents, $1,000 deductibles, drivers are not married, and no discounts are applied to the premium.
If we average the cost for all age groups, physical damage coverage costs an extra $1,550 per year more than just buying liability insurance. That is a large expense and it proposes the question if you should buy full coverage at all. There is no definitive formula to delete physical damage coverage on your policy, but there is a general convention. If the yearly cost for physical damage coverage is more than 10% of the settlement you would receive from your company, then it could be time to drop full coverage.
For example, let’s pretend your vehicle’s book value is $9,000 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $8,000 after paying your policy deductible. If premiums are more than $800 annually to have full coverage, then it’s probably a good time to buy liability coverage only.
There are some scenarios where removing full coverage is not a good plan. If you still owe a portion of the original loan, you have to carry full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle in case of an accident, you should not eliminate full coverage.
Low rates can quickly become overpriced
Anchorage, AK insurance rates are calculated based on many things which can substantially decrease or increase the cost of a policy. Getting older, moving to a new city, or getting caught speeding can produce rate changes resulting in some companies being more affordable than others.
Also, insurance companies change prices as often as every three months in order to protect their financial rating. Significantly higher claims can result in higher prices, while a profitable period can cause more affordable Anchorage car insurance rates.
For example, the chart below shows which company has the cheapest car insurance in Anchorage, AK for a 45-year-old male driver with no prior accidents, a clean driving record, and good financial standing. If we compare prices based on his current risk factors, Umialik might offer the most affordable car insurance rates in Anchorage at $1,171 each year. This is $372 less than the average premium paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO are the remaining best Anchorage, AK auto insurance companies.
Now we will give the driver in the first example an accident claim, slightly worse credit, and a traffic citation. Because every insurance company uses their own formula for setting rates, comparing prices most likely will result in a new list of affordable companies as shown below.
USAA now has the cheapest price in Anchorage with State Farm, Umialik, Progressive, and Safeco now being in the top five. This demonstrates why it is critical to do a thorough rate comparison to get affordable car insurance quotes for teachers.
Prices are impacted by many risk factors and change frequently, so the lowest-price company the last time you checked may now be an over-priced policy.
How to find the cheapest car insurance for teachers
The list below shows many money-saving suggestions that can help you get more affordable coverage.
- Save money by only buying liability coverage for older vehicles
- Drivers with good credit often pay less
- Lower rates by purchasing a safer vehicle
- Increase physical damage deductibles
- Do not get into accidents
- Violations like speeding or DUI increase rates
- Keep rates low by comparing prices once a year
That last piece of advice is incredibly crucial, as was emphasized in this write-up. Car insurance prices can change considerably in a year, so you should be ready to change insurance companies if you can save money. Sticking with a specific company is fine, but it’s not a great idea if that faithfulness ends up costing you a considerable chunk of change every month. It only take a few minutes to shop around and find cheaper insurance for teachers in Anchorage.
If you like to have a little guidance when comparing insurance rates for teachers and educators, the agents below can most likely help you determine which auto insurance policy fits you best. To locate an Anchorage insurance agent near you, click the button at the bottom or click here to compare rates now.
Stacey Allen – State Farm Insurance Agent
2203 W Dimond Blvd #100B – Anchorage, AK 99515 – (907) 277-2233
State Farm: Todd Jackson
1330 Huffman Rd Suite E – Anchorage, AK 99515 – (907) 345-0214
Alaskan General Insurance
1400 W Benson Blvd # 500 – Anchorage, AK 99503 – (907) 297-4500