How long has it been since the last time you looked for the cheapest Cadillac Escalade EXT insurance in Anchorage? Pretty sure you bought an under-performing, overpriced car insurance policy? You’re in good company because you are not the only one feeling buyer’s remorse.
It’s a fact that auto insurance companies don’t want you shop around. Drivers who rate shop once a year are highly likely to buy a new policy because there is a significant possibility of finding more affordable rates. A recent study showed that people who did price comparisons regularly saved an average of $865 annually compared to those who don’t make a habit of comparing rates.
If finding the most affordable auto insurance is why you’re reading this, then learning about the best ways to find and compare insurance can save time and make the process easier.
Consumers have multiple auto insurance companies to insure vehicles with, and although it’s nice to have a choice, lots of choices makes it harder to find the lowest rates for Cadillac Escalade EXT insurance in Anchorage.
Shopping around for more affordable coverage in Anchorage is not that difficult. Essentially everyone who has to purchase insurance most likely will be able to save money. But Alaska consumers must understand the way insurance companies charge you for coverage.
Lower Insurance Rates with These Tips
The best way to find cheaper auto insurance is to take a look at the factors that help calculate the rates you pay for auto insurance. If you know what positively or negatively impacts your premiums, this allows you to make good choices that can earn you much lower annual insurance costs.
The following are a few of the things auto insurance companies consider when setting prices.
Adjust physical damage deductibles and save – Insurance for physical damage, commonly called comprehensive (or other-than-collision) and collision coverage, is used to repair damage to your Cadillac. Examples of some claims that would be covered would be a broken side mirror, damage from fire, and burglary. Comp and collision deductibles state the amount of money you are willing to pay out-of-pocket if a claim is determined to be covered. The more of the claim the insured has to pay upfront, the less your auto insurance will be.
Vehicle theft costs us all – Choosing to buy a car that has an advanced theft prevention system can help lower your rates. Anti-theft devices such as OnStar found on GM vehicles, advanced tracking like LoJack, and vehicle immobilization systems all aid in stopping car theft and help bring rates down.
Gender and auto insurance rates – Over the last 50 years, statistics have shown that women are safer drivers than men. Now that doesn’t mean women are BETTER drivers than men. Both genders are in fender benders in similar numbers, but the males tend to have higher claims. In addition to higher claims, males also get more serious tickets such as DWI and reckless driving. Youthful male drivers are most likely to cause an accident and therefore are the most expensive to insure.
The chart below illustrates the comparison of Cadillac Escalade EXT insurance costs for male and female drivers. The information is based on no claims, a clean driving record, comprehensive and collision coverage, $100 deductibles, single status, and no discounts are factored in.
Drivers with responsible credit save on auto insurance – Having a bad credit score is a big factor in determining your rates. People that have very good credit scores tend to file fewer claims than drivers who have poor credit. If your credit rating leaves room for improvement, you may save money insuring your Cadillac Escalade EXT if you clean up your credit.
Insurance coverage details
The price information below showcases a range of insurance prices for Cadillac Escalade EXT models. Having knowledge of how insurance premiums are established can help guide drivers when making informed decisions when shopping around for a new policy.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Escalade EXT 4WD||$222||$430||$286||$16||$86||$1,040||$87|
|Escalade EXT Luxury Edition 4WD||$222||$430||$286||$16||$86||$1,040||$87|
|Get Your Own Custom Quote Go|
Data rating is based on married female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include multi-policy, claim-free, safe-driver, multi-vehicle, and homeowner. Price estimates do not factor in garaging location in Anchorage which can change premium rates considerably.
The chart below illustrates how your deductible choice and can raise or lower Cadillac Escalade EXT annual premium costs for each different age group. The premiums are based on a married male driver, comprehensive and collision coverage, and no discounts are applied to the premium.
Cost of full coverage
The example below illustrates the comparison of Cadillac Escalade EXT car insurance rates with and without full coverage. The rate quotes are based on a clean driving record, no at-fault accidents, $100 deductibles, marital status is single, and no other discounts are factored in.
When to drop comprehensive and collision
There is no set guideline of when to eliminate physical damage insurance, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than 10% of any settlement you would receive from your insurance company, then it might be time to buy liability only.
For example, let’s say your Cadillac Escalade EXT replacement value is $3,000 and you have $1,000 deductibles. If your vehicle is severely damaged, the most you would receive is $2,000 after paying your policy deductible. If it’s costing in excess of $200 a year for your policy with full coverage, then you might want to consider buying only liability coverage.
There are some scenarios where only buying liability is not in your best interest. If you still have a lienholder on your title, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your finances do not allow you to purchase a different vehicle in case of an accident, you should not eliminate full coverage.
Determine discounts on Anchorage car insurance
Car insurance is not an enjoyable expense, but you may qualify for discounts to reduce the price significantly. A few discounts will automatically apply when you get a quote, but some discounts are required to be asked for prior to getting the savings.
- Sign Online – Some of the larger companies will discount your bill up to fifty bucks for completing your application on the web.
- Multiple Policy Discount – If you have multiple policies with one company you could get a discount of over 10 percent off each policy depending on the company.
- Defensive Driving Course – Participating in a course teaching defensive driver skills could earn you a small percentage discount and easily pay for the cost of the class.
- Seat Belts Save – Drivers who require all occupants to use a seat belt can save up to 15% on the premium charged for medical payments and/or PIP.
- ABS Braking Discount – Cars, trucks, and SUVs that have anti-lock braking systems can avoid accidents so companies give up to a 10% discount.
- Passenger Safety Discount – Vehicles equipped with air bags can receive discounts up to 30%.
- Save over 55 – If you’re over the age of 55, you may be able to get reduced rates.
Don’t be surprised that most discount credits are not given to your bottom line cost. The majority will only reduce specific coverage prices like collision or personal injury protection. Despite the fact that it seems like you would end up receiving a 100% discount, companies don’t profit that way. But all discounts will positively reduce the premium cost.
The example below shows the comparison of Cadillac Escalade EXT annual premium costs with and without some available policy discounts. The premiums are based on a male driver, no claims or driving citations, Alaska state minimum liability limits, comp and collision included, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, homeowner, marriage, multi-car, multi-policy, and claim-free discounts applied.
If you would like to choose from a list of companies that offer discounts in Alaska, click here to view.
Which auto insurance company is best in Alaska?
Insuring your vehicle with a good quality car insurance company can be rather challenging considering how many choices you have in Alaska. The information displayed below may help you choose which car insurance companies you want to consider comparing price quotes from.
Top 10 Anchorage Car Insurance Companies Ranked by Value
- American Family
- The Hartford
- The General
- State Farm
- AAA Insurance
- 21st Century
Top 10 Anchorage Car Insurance Companies Overall
- American Family
- State Farm
- The Hartford
- AAA Insurance
- The General
- Liberty Mutual
Compare but don’t skimp
We just presented many ideas to save on Cadillac Escalade EXT insurance in Anchorage. The key thing to remember is the more companies you get rates for, the better your comparison will be. Drivers may even discover the lowest prices are with the smaller companies.
Discount Cadillac Escalade EXT insurance in Anchorage can be found from both online companies and with local Anchorage insurance agents, and you should compare rates from both in order to have the best chance of saving money. Some insurance providers don’t offer online price quotes and most of the time these smaller providers sell through independent agencies.
As you shop your coverage around, do not buy poor coverage just to save money. There have been many situations where an insured dropped comprehensive coverage or liability limits and learned later that they should have had better coverage. Your focus should be to buy a smart amount of coverage at a price you can afford.
How to find better rates for Cadillac Escalade EXT insurance in Anchorage
The preferred way to get budget Cadillac Escalade EXT insurance is to make a habit of regularly comparing prices from companies in Anchorage.
- Take a little time to learn about how auto insurance works and the steps you can take to prevent rate increases. Many rating factors that cause rate increases such as careless driving and a poor credit rating can be improved by making small lifestyle or driving habit changes.
- Request rate estimates from direct, independent, and exclusive agents. Exclusive agents and direct companies can give quotes from one company like GEICO or Farmers Insurance, while independent agencies can quote prices for a wide range of insurance providers.
- Compare the new quotes to the price on your current policy and determine if cheaper Escalade EXT coverage is available. If you find a lower rate and make a switch, make sure the effective date of the new policy is the same as the expiration date of the old one.
- Give notification to your current company to cancel your current coverage. Submit payment along with a signed and completed policy application to the new company. When you receive it, safely store the certificate verifying proof of insurance above your visor, in the console, or in the glove compartment.
An essential thing to point out is that you’ll want to make sure you compare identical limits and deductibles on each price quote and and to analyze as many car insurance companies as possible. Doing this helps ensure an apples-to-apples comparison and the best price quote selection.
Additional detailed information can be found at these sites:
- Air Bags: Potential Dangers to Your Children (Insurance Information Institute)
- How Much are Anchorage Auto Insurance Quotes for High Mileage Drivers? (FAQ)
- Who Has Affordable Car Insurance Quotes for Low Credit Scores in Anchorage? (FAQ)
- Auto Insurance 101 (About.com)
- Credit and Insurance Scores (Insurance Information Institute)
- Credit Impacts Car Insurance Rates (State Farm)
- What if I Can’t Find Coverage? (Insurance Information Institute)