How Much are Car Insurance Rates for Single Moms in Anchorage?

The words “cheap” and “insurance” probably shouldn’t be used in the same sentence, in particular when shopping around for the cheapest auto insurance for single moms. Because of the high cost, let’s go over a few of the factors that have an effect on auto insurance premiums, and figure out some ideas to take the sting out of the next policy you buy.

For single parents, one of the more important components that are used to help calculate the price you pay for insurance is where you live in Anchorage. Areas with high crime rates or more dense population tend to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims tend to receive slightly lower rates.

The information below rates the most expensive areas in Alaska for single moms to buy an auto insurance policy in. Anchorage is ranked at #4 costing $1,269 for car insurance, which is about $106 per month.

How much is car insurance in Anchorage?
Rank City Average Per Year
1 Palmer $1,291
2 Meadow Lakes $1,291
3 College $1,270
4 Anchorage $1,269
5 Fairbanks $1,234
6 Wasilla $1,228
7 Kenai $1,226
8 Nikiski $1,190
9 Homer $1,190
10 Sterling $1,190
11 Kodiak $1,167
12 Ketchikan $1,035
13 Juneau $999
14 Sitka $967
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Rates are comparative as the garaging address in Anchorage can increase or decrease premiums greatly.

The vehicle needing coverage is a large factor that determines if you can find the most affordable auto insurance for single moms. Vehicles with limited top-end speed, good crash test ratings, or a low likelihood of liability claims will cost substantially less to insure than high performance models.

The next list shows auto insurance prices for a number of the cheapest vehicles to insure.

Cheapest Vehicles to Insure in Anchorage, AK
Vehicle Make and Model Estimated Cost for Full Coverage
Ford Escape XLT 2WD $1,393
Honda Accord LX-P 4-Dr Sedan $1,594
Honda Civic DX 4-Dr Sedan $1,618
Chevrolet Impala LS $1,626
Ford Explorer Limited 4WD $1,682
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $1,691
Hyundai Elantra Blue 4-Dr Sedan $1,703
Volkswagen Jetta S 2.5 Station Wagon $1,730
Toyota Camry SE $1,736
Toyota Corolla S $1,744
Honda CR-V EX-L 4WD $1,749
Jeep Wrangler Sport Islander Package 4WD 2-Dr $1,752
Toyota Prius $1,765
Nissan Altima Hybrid 4-Dr Sedan $1,768
Ford Fusion SE 4-Dr Sedan $1,777
Dodge Grand Caravan CV $1,789
Chevrolet Silverado LTZ Crew Cab 2WD $1,888
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Above prices assume single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Premium amounts do not factor in the specific area where the vehicle is garaged which can affect auto insurance rates greatly.

Looking at the data, we can expect models like the Ford Escape, Honda Accord, and Honda Civic are going to be some of the most budget-friendly vehicles to insure for single parents.

Locating low-cost auto insurance is tough enough, and deciding which company offers the cheapest car insurance rates for single moms requires a little more work.

Every insurance provider uses their own method for setting prices, so we’ll take a look at the most competitive car insurance companies in Anchorage. It’s important to know that Anchorage car insurance rates are impacted by many things that will increase or decrease the cost of coverage. Simply having a birthday, filing a claim, or getting a ticket for careless driving can trigger rate changes that may make certain companies more expensive than competitors.

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Cheapest Alaska car insurance ranked by price
Rank Company Cost Per Year
1 Umialik $865
2 USAA $939
3 State Farm $965
4 Progressive $1,210
5 GEICO $1,886
6 Allstate $2,374
7 Safeco $2,426
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Umialik may have some of the best car insurance rates in Anchorage at around $865 per year. USAA, State Farm, Progressive, and GEICO also make the cut as some of the cheapest Anchorage, AK auto insurance companies.

In the above rates, if you are currently insured with GEICO and switched to USAA, you may see savings of in the vicinity of $947. Drivers with Allstate could save as much as $1,435 a year, and Safeco customers might lower prices by up to $1,487 a year.

Be aware that those estimates are averaged for all types of drivers and the different vehicles they drive and are not factoring in a specific vehicle garaging location for single moms. So the auto insurance company that can offer you the best price may not even be in the list above. That points out the importance of why you need to get rate quotes from many companies using your own personalized driver profile and vehicle information.

The information below highlights how deductible choice can change yearly insurance costs when researching cheap insurance for single moms. The data assumes a married female driver, comp and collision included, and no discounts are applied to the premium.

The chart above illustrates that a 30-year-old driver could lower their car insurance rates by $258 a year by increasing from a $100 deductible to a $500 deductible, or save $388 by selecting a $1,000 deductible. Even younger drivers, like the Age 20 chart data, could roll back prices up to $552 each year by choosing larger deductibles on their policy. If you make the decision to raise deductibles, it will be required to have additional funds squirreled away to enable you to cover the extra out-of-pocket expense, which is the one inconvenience of using high deductibles.

Price comparison of only insuring for liability

Saving on car insurance is important to most vehicle owners, and a great way to pay lower rates for insurance for single moms is to buy liability only. The illustration below shows the comparison of insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on no claims or driving citations, $1,000 deductibles, marital status is single, and no discounts are applied.

On average, physical damage coverage on your policy costs $1,148 per year more than just insuring for liability. That is a significant amount which raises the question if it’s worth it to buy full coverage. There is no exact formula of when to eliminate physical damage coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is 10% or more of the settlement you would receive from your company, then it’s probably a good time to buy liability coverage only.

Finding a highly-rated insurance provider can be a challenge considering how many companies there are to choose from in Anchorage. The company rank data below can help you select which car insurance companies to look at purchasing a policy from.

The rankings below are only comprised of the largest companies in America, so companies that focus mainly on Alaska business are not factored into the list. To view rates from these top-rated insurers and more, just click here.

Top 10 Large Auto Insurance Providers in Anchorage Ranked by Customer Service

  1. State Farm
  2. GEICO
  3. The Hartford
  4. Progressive
  5. The General
  6. Allstate
  7. American Family
  8. AAA Insurance
  9. Liberty Mutual
  10. Farmers Insurance

How to find budget-friendly car insurance for single moms

The list below details many money-saving suggestions that can help you locate cheaper auto insurance.

That last idea is particularly valuable, as was pointed out in the article above. Rates fluctuate constantly, so don’t hesitate to switch companies if a better rate can be found. Loyalty to a specific company is fine, but is isn’t recommended if that stubbornness costs you a wad of cash every year. If you have a few minutes, now is a great time to compare prices and find cheaper car insurance for single moms in Anchorage.

The agents below can help you determine which insurance coverage you need, since many consumers aren’t sure which coverage to buy and prefer to get help from a professional when trying to find lower insurance rates for single parents. It can be complicated to find coverage yourself, and professional agents can bring peace of mind knowing you have decent coverage if you have a claim.

To find an auto insurance agency nearest to you, click the button at the bottom or click here to compare prices now.

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