Finding the cheapest insurance for a Chevrolet Equinox in Alaska depends on a fairly complex equation with a lot of factors such as annual miles driven, your credit score, and if you have a history of accidents. Alaska drivers pay approximately $966 a year to insure their Equinox, but that is a valuation calculated using a 40-year-old single male driver with full physical damage coverage and $250 deductibles.
When making auto insurance estimates, the issue arises that you’re not a 40-year-old male, you might be married instead of single, or maybe you want more liability coverage than is required by law in Alaska. Having just a slight change in rating variables may result in a big change in the amount insurance costs for a Chevrolet Equinox.
Auto insurance is not the same for everyone, so the best method for finding the cheapest insurance price for your Chevrolet is to do your own rate comparisons. Price quotes are quick and you can get prices from the best companies around.
Vehicle trim level will be a contributing factor to price, so the price you will pay to insure a Equinox LS 2WD will be $98 lower than the price to insure the higher-priced Equinox LTZ AWD trim level, as shown in the prices below.
| Model | Comp | Collision | Liability | Medical | UM/UIM | Annual Premium | Monthly Premium |
|---|---|---|---|---|---|---|---|
| Equinox LS 2WD | $206 | $408 | $330 | $20 | $98 | $1,062 | $89 |
| Equinox LT 2WD | $206 | $408 | $330 | $20 | $98 | $1,062 | $89 |
| Equinox LS AWD | $206 | $408 | $330 | $20 | $98 | $1,062 | $89 |
| Equinox LT AWD | $206 | $408 | $330 | $20 | $98 | $1,062 | $89 |
| Equinox LTZ 2WD | $232 | $480 | $330 | $20 | $98 | $1,160 | $97 |
| Equinox LTZ AWD | $232 | $480 | $330 | $20 | $98 | $1,160 | $97 |
| Equinox LTZ AWD | $232 | $480 | $330 | $20 | $98 | $1,160 | $97 |
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Prices based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include multi-policy, homeowner, claim-free, multi-vehicle, and safe-driver. Table data does not factor in specific location which can affect coverage prices considerably.
Best insurance company in Alaska
Buying coverage from the highest-rated insurer can be difficult considering how many choices there are in Anchorage. The company rank data shown next may help you select which companies you want to consider when trying find the best insurance for a Chevrolet Equinox.
The rankings below are only made up of major nationwide insurance companies, so companies with more of a regional focus will not be included in these rankings. To compare prices from many more Alaska auto insurance companies, click this link.
| 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
Full coverage rates vs. liability-only
Buying cheaper insurance should be important to the majority of drivers, and one of the fastest ways to lower the cost of insurance for a Chevrolet Equinox is to buy liability only. The information below illustrates the comparison of auto insurance costs with and without full coverage. The price estimates are based on a clean driving record, no at-fault accidents, $500 deductibles, drivers are not married, and no discounts are applied to the premium.
As an average for all age groups, full coverage costs $1,523 per year more than just buying liability insurance. Lot’s of drivers question if buying full coverage is worth the expense. There is no exact rule of when to eliminate comp and collision coverage, but there is a broad guideline. If the annual cost of having full coverage is more than around 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.
Why you should be shopping around
Anchorage, AK insurance rates are influenced by many factors that can increase the policy price. Simply having a birthday, buying higher coverage limits, or getting a reckless driving citation can trigger changes in premium resulting in some rates now being cheaper than before.
Also, insurance companies file new rates as often as every three months in order to offset underwriting gains or losses. Significantly higher claims can cause more expensive premiums, while lower claims can cause cheaper Equinox insurance rates.
As an example, the bar chart below analyzes the cheapest car insurance in Anchorage, AK for a 35-year-old male driver with a good driving record, no prior claims, and a good credit rating. If we estimate rates based on his current situation, Umialik might offer the cheapest car insurance rates in Anchorage at $1,206 annually. This is $337 less than the average price paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO are the remaining best Anchorage, AK auto insurance companies.
The chart below compares rates after we give the driver from the first rate comparison a claim surcharge, bad credit, and an imperfect driving record. Due to the fact that each insurance company has a unique approach to determine rates, analyzing rates may now show a substantially altered list of cheap Anchorage auto insurance companies as shown below.
State Farm now has the cheapest car insurance in Anchorage with USAA, Umialik, Progressive, and Safeco completing the list. This shows why it is crucial to perform a complete rate comparison when trying to get the lowest insurance rates for a Chevrolet Equinox. Insurance rates are impacted by many factors and can increase or decrease at any time, so the most economical company two years ago may now be one of the more expensive options.