The best way we recommend to get discount auto insurance rates in Anchorage is to start doing an annual price comparison from insurers who provide car insurance in Alaska.
First, try to comprehend how insurance companies determine prices and the measures you can control to keep rates down. Many rating factors that result in higher rates like accidents, traffic tickets, and a bad credit rating can be rectified by improving your driving habits or financial responsibility.
Second, request price quotes from independent agents, exclusive agents, and direct companies. Exclusive and direct companies can provide rates from one company like Progressive or State Farm, while agents who are independent can give you price quotes from multiple insurance companies.
Third, compare the price quotes to your current policy to determine if switching companies saves money. If you can save some money, make sure there is no coverage gap between policies.
Fourth, give notification to your agent or company of your intent to cancel your current auto insurance policy. Submit the required down payment along with the signed application for your new coverage. As soon as you can, keep your new proof of insurance certificate in your glove compartment.
A valuable tip to remember is that you use the same amount of coverage on each quote and and to compare as many companies as you can. This guarantees a level playing field and the best price quote selection.
Shocking but true, a large majority of drivers have remained with the same car insurance company for at least the last four years, and almost 40% of drivers have never compared quotes from other companies. Alaska insurance shoppers could save 35% every year by just shopping around, but they assume it’s a waste of time to do a rate comparison.
If you are already insured or want to find a cheaper company, use these techniques to buy cheaper car insurance and possibly find even better coverage. Finding the cheapest coverage in Anchorage is much easier if you know where to start. You just need to use the most efficient way to compare rate quotes online from multiple companies.
The auto insurance companies shown below have been selected to offer free rate quotes in Alaska. If you want cheap car insurance in Anchorage, AK, we recommend you get rate quotes from several of them to get a more complete price comparison.
Car insurance analysis for a Cadillac CTS
The coverage information shown next showcases a range of insurance rates for Cadillac CTS models. Being more informed about how policy rates are formulated can help drivers make informed decisions.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|CTS Luxury AWD||$228||$544||$354||$20||$106||$1,252||$104|
|CTS Performance AWD||$228||$544||$354||$20||$106||$1,252||$104|
|CTS Premium AWD||$254||$544||$354||$20||$106||$1,278||$107|
|Get Your Own Custom Quote Go|
Data based on single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, multi-policy, homeowner, claim-free, and safe-driver. Premium amounts do not factor in vehicle garaging location which can decrease or increase auto insurance rates substantially.
The information below demonstrates how deductible levels and can change Cadillac CTS yearly insurance costs for different ages of insureds. The costs are based on a single female driver, full physical damage coverage, and no additional discounts are factored in.
Irresponsible driving raises your rates
The information below highlights how traffic violations and at-fault accidents can increase Cadillac CTS yearly insurance costs for each different age category. Data assumes a single male driver, comp and collision included, $500 deductibles, and no discounts are taken into consideration.
Car insurance premiums by gender
The diagram below visualizes the comparison of Cadillac CTS car insurance rates for male and female drivers. The data assumes a clean driving record, no claims, full coverage, $500 deductibles, single status, and no other discounts are factored in.
Does full coverage make sense?
The information below compares Cadillac CTS insurance prices with and without physical damage coverage. The information is based on a clean driving record, no claims, $500 deductibles, drivers are not married, and no discounts are applied.
When to buy liability coverage only
There is no definitive guideline that is best for determining when to drop physical damage coverage on your policy, but there is a general guideline. If the yearly cost of comp and collision coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.
For example, let’s pretend your Cadillac CTS claim settlement value is $3,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, the most your company will settle for is $2,000 after paying the physical damage deductible. If you are paying more than $200 annually for your policy with full coverage, then you might want to consider buying only liability coverage.
There are a few situations where buying only liability insurance is not in your best interest. If you still have a lienholder on your title, you have to maintain 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 the even your car is totaled, you should not consider dropping full coverage.
Buying from auto insurance agents
Some consumers just want to buy from a local agent and doing that can be a smart decision Professional insurance agents can point out coverage gaps and help you file claims. One of the benefits of comparing car insurance online is that drivers can save money and get cheap rate quotes and still have a local agent.
Once you complete this form (opens in new window), the quote information is emailed to agents in your area that can provide free Anchorage auto insurance quotes to get your business. It makes it easy because there is no need to find an agent because prices are sent to your email. In the event you want to compare prices from a specific car insurance provider, feel free to search and find their rate quote page to submit a rate quote request.
Picking a insurer requires you to look at more than just the bottom line cost. Here are some questions you should ask.
- Do they get paid more for recommending certain coverages?
- Does the agent have a valid license to sell insurance in Alaska?
- Does the company have a local claim office in Anchorage?
- Are they able to influence company decisions when a claim is filed?
- How often do they review policy coverages?
- Can you use your own choice of collision repair facility?
- Do you need full coverage on every vehicle?
- Are they involved in claim handling?
How to choose the best auto insurance agent in Anchorage
When researching a local agent, it can be helpful to understand the types of agencies and how they work. Car insurance agents in Anchorage are classified as either independent agents or exclusive agents depending on their employer. Either one can write car insurance policies, but it’s important to know the difference in how they write coverage because it can factor into the selection process.
Exclusive Insurance Agencies
These type of agents generally can only insure with one company and examples are Allstate, Farmers Insurance, State Farm, and AAA. Exclusive agents are unable to compare rates from other companies so they have no alternatives for high prices. Exclusive agents are trained well on their company’s products and that allows them to sell at a higher price point.
Listed below is a short list of exclusive insurance agencies in Anchorage that can give you price quote information.
Independent Car Insurance Agents
Independent agencies can sell policies from many different companies so they can write business with any number of different companies and get the cheapest rates. To move your coverage to a new company, they simply switch companies in-house and you can keep the same agent.
When shopping rates, you definitely need to get rate quotes from independent agents to have the most options to choose from.
Below is a short list of independent agents in Anchorage that are able to give rate quotes.