The vehicle you are buying coverage for is one of the biggest factors when comparison shopping for the cheapest insurance for veterans. Vehicles with lower acceleration and performance, advanced safety features, or a low likelihood of liability claims will cost significantly less to insure than higher performance models.
The list below features car insurance prices for a number of the cheapest vehicles to insure.
| Make, Model, and Trim Level | Estimated Cost for Full Coverage |
|---|---|
| Chevrolet Silverado LT Extended Cab 4WD | $1,714 |
| Chevrolet Impala LT | $1,723 |
| Chevrolet Malibu LS | $1,714 |
| Ford Explorer Limited AWD | $1,747 |
| Hyundai Elantra Blue 4-Dr Sedan | $1,771 |
| Honda CR-V LX 4WD | $1,777 |
| Honda Accord LX-P 4-Dr Sedan | $1,786 |
| Ford Escape Limited 2WD | $1,821 |
| Toyota Prius | $1,837 |
| Hyundai Sonata GLS 4-Dr Sedan | $1,840 |
| GMC Sierra 3500HD SLE Extended Cab 2WD | $1,870 |
| Jeep Wrangler Sport Islander Package 4WD 2-Dr | $1,946 |
| Ford Fusion Sport AWD 4-Dr Sedan | $1,960 |
| Kia Optima EX | $1,963 |
| Dodge Grand Caravan Crew | $2,004 |
| Toyota Tacoma Double Cab TRD Off-Road Package 4WD | $2,014 |
| Ford Edge Limited 2WD | $2,058 |
| Nissan Altima 2.5 S 4-Dr Sedan | $2,072 |
| Honda Odyssey EX-L W/Navigation | $2,079 |
| Volkswagen Jetta 2.0T Station Wagon | $2,088 |
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in specific location which can lower or raise insurance rates considerably.
Looking at the data, you can presume that cars like the Chevrolet Silverado, Chevrolet Impala, Chevrolet Malibu, and Ford Explorer are likely to be the cheapest vehicles to insure for veterans.
For veterans, one of the big factors that help determine the price you pay for insurance is your address. Larger areas likely pay more, whereas areas with lower crime rates and fewer weather claims receive better rates.
The next table sorts the highest-priced areas in Alaska for veterans to purchase auto insurance in. Anchorage is listed at #2 costing $1,295 for the average insurance policy, which is approximately $108 each month.
| Rank | City | Annual Rate |
|---|---|---|
| 1 | Palmer | $1,304 |
| 2 | Anchorage | $1,295 |
| 3 | Meadow Lakes | $1,291 |
| 4 | Wasilla | $1,278 |
| 5 | College | $1,270 |
| 6 | Nikiski | $1,238 |
| 7 | Fairbanks | $1,234 |
| 8 | Kenai | $1,226 |
| 9 | Homer | $1,226 |
| 10 | Sterling | $1,190 |
| 11 | Kodiak | $1,167 |
| 12 | Ketchikan | $1,055 |
| 13 | Juneau | $999 |
| 14 | Sitka | $967 |
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Rate quotes are estimated as specific Anchorage garaging address can increase or decrease prices greatly.
Establishing which companies offer the cheapest insurance rates for veterans takes a bit more effort in order to find coverage that fits your budget. Each auto insurer has their own formula for determining rates, so we’ll go over the most budget-friendly insurance companies in Anchorage, AK.
It’s important to understand that Anchorage, AK insurance rates are based on many factors that can increase the cost of a policy. Getting older, buying a different vehicle, or having an accident may cause policy rate changes resulting in some rates now being cheaper than others.
Find the Best Cheap Insurance for Vets
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | Umialik | $892 |
| 2 | USAA | $929 |
| 3 | State Farm | $1,005 |
| 4 | Progressive | $1,247 |
| 5 | GEICO | $1,886 |
| 6 | Allstate | $2,303 |
| 7 | Safeco | $2,501 |
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Umialik generally has some of the cheapest car insurance rates in Anchorage at around $892 each year. This is $651 less than the average rate paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO also rank well as some of the best Anchorage, AK insurance companies.
In the above rates, if you have coverage with State Farm and switched to Umialik, you could see an annual savings of in the vicinity of $113. Insureds with Progressive may save as much as $355 a year, and GEICO policyholders might cut rates by $994 a year.
These premiums are averaged across all types of insureds and vehicles and do not factor in an exact zip code location for veterans. So the insurer that fits you best may not even be in the list above. That emphasizes why you need to quote rates from many companies using your own driver data and vehicle information.
Selecting the highest-rated auto insurance provider can be rather challenging considering how many companies sell insurance in Anchorage. The ranking data in the next section may help you analyze which insurers you want to consider when comparing insurance rates for veterans.
These ratings are only made up of companies with a nationwide focus, so smaller regional companies are not taken into consideration for this list. To check rates from these top-rated insurers and more, just click here.
| Company | Value | Customer Service | Claims | Customer Satisfaction | A.M Best Rating | Overall Score |
|---|---|---|---|---|---|---|
| USAA | 98 | 100 | 100 | 94% | A++ | 98.6 |
| American Family | 98 | 89 | 100 | 86% | A | 95.4 |
| State Farm | 88 | 93 | 96 | 90% | A++ | 92.4 |
| The Hartford | 94 | 92 | 90 | 89% | A+ | 91.7 |
| AAA Insurance | 88 | 89 | 95 | 91% | A | 91.2 |
| GEICO | 84 | 93 | 93 | 89% | A++ | 90.3 |
| The General | 89 | 91 | 89 | 88% | A- | 90 |
| Progressive | 84 | 91 | 93 | 87% | A+ | 89.5 |
| Allstate | 85 | 90 | 92 | 88% | A+ | 89.3 |
| Liberty Mutual | 84 | 87 | 93 | 88% | A | 88.5 |
| 21st Century | 85 | 86 | 87 | 88% | A | 86.7 |
| Esurance | 85 | 80 | 95 | 87% | A+ | 85.9 |
| Safeco | 85 | 85 | 85 | 86% | A | 85.8 |
| Farmers Insurance | 78 | 87 | 88 | 79% | A | 84.3 |
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Data Source: Insure.com Best Car Insurance Companies
How to get discounts on Anchorage insurance rates
Insurers that provide coverage for veterans may also provide premium discounts that can reduce rates by as much as 25% or more if you are eligible for them. A few popular companies and a selection of discounts are included below.
- State Farm policyholders can earn discounts including good driver, anti-theft, accident-free, good student, multiple policy, passive restraint, and student away at school.
- Farmers Insurance has savings for switch companies, youthful driver, distant student, bundle discounts, and early shopping.
- Progressive may include discounts for multi-vehicle, good student, homeowner, online quote discount, and continuous coverage.
- GEICO may have discounts that include good student, defensive driver, multi-policy, multi-vehicle, and driver training.
- Auto-Owners Insurance has discounts for anti-theft, paid in full, mature driver, group or association, anti-lock brakes, and good student.
- The Hartford offers discounts for defensive driver, bundle, air bag, vehicle fuel type, anti-theft, driver training, and good student.
- Farm Bureau offers premium reductions for multi-policy, youthful driver, 55 and retired, multi-vehicle, renewal discount, and driver training.
- USAA includes discounts for new vehicle, family discount, multi-vehicle, multi-policy, and defensive driver.
The illustration below visualizes the comparison of insurance costs with and without discounts applied to the policy rates. The premiums assume a female driver, no violations or accidents, Alaska state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with passive restraint, defensive driving course, multiple vehicle, anti-theft, accident-free, and multiple policy discounts applied. With discounts applied, theamount saved on insurance for veterans is 28% or $409.
Last year’s bargain might be this year’s rip off
Alaska insurance rates are calculated based on many things that will increase or decrease the cost of a policy. Simply getting older, marrying your spouse, or having a fender bender can produce rate changes that can make some companies cheaper than others.
And not only may your rating factors change, but insurance companies file new rates at least once a year in order to protect their financial rating. Heavy losses may result in higher rates, while a better claims history may produce more affordable Anchorage car insurance rates.
For example, the data below shows the company with the cheapest car insurance in Anchorage, AK for a 35-year-old female driver with a clean driving record, no accidents, and a good credit history. If we estimate prices based on her current risk profile, Umialik offers the cheapest car insurance rates in Anchorage at $1,195 a year. This is $348 less than the average premium paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO are also on the list of the top five cheapest Anchorage, AK auto insurance companies.
Now let’s give the driver from the above example a couple of claims, a lower credit rating, and a blemish on her driving record. Since each company uses their own method for setting rates, comparing rates most likely will result in a significantly different list of companies as shown below.
State Farm now has the best auto insurance rate in Anchorage with USAA, Umialik, Progressive, and Safeco now rounding out the top five. This example demonstrates why consumers need to compare lots of rates to find the best insurance rates for veterans. Rates can be determined by many things and can change without notice, so the best company the last time you shopped your coverage around may now be costing you a lot of money.