Who Has Cheap Auto Insurance Rates with Multiple Speeding Tickets in Anchorage?

The make and model of vehicle requiring coverage is one of the biggest factors when comparing quotes for economical coverage with multiple speeding tickets. Vehicles with economical engines, modern passenger safety features, or low incidents of liability claims will cost less to insure than fast, unsafe models. The information below presents auto insurance rates for some of the most budget-friendly automobiles to buy insurance for.

Cheapest Vehicles to Insure in Anchorage, AK
Make, Model, and Trim Level Estimated Cost for Full Coverage
Honda Odyssey LX $2,057
Honda CR-V EX-L 4WD $2,109
Ford F-150 STX Super Cab 4WD $2,141
Chevrolet Impala LS $2,177
Ford Escape XLS 2WD $2,187
Dodge Grand Caravan Hero $2,219
Jeep Wrangler Unlimited Sport 4WD 4-Dr $2,278
Hyundai Elantra Blue 4-Dr Sedan $2,299
Honda Civic EX 4-Dr Sedan $2,308
Dodge Ram Crew Cab TRX 2WD $2,416
Toyota Prius $2,419
Ford Explorer Eddie Bauer 2WD $2,432
Chevrolet Equinox LS AWD $2,447
Chevrolet Silverado 3500HD LTZ Crew Cab 2WD $2,468
Chevrolet Malibu LT $2,494
Toyota Tacoma Double Cab 4WD $2,502
Chevrolet Silverado Crew Cab Hybrid 2WD $2,502
Ford Edge SE AWD $2,522
Ford Fusion SEL AWD 4-Dr Sedan $2,543
Toyota RAV4 Limited 2WD $2,572
Toyota Corolla S $2,582
Nissan Rogue S AWD $2,621
Hyundai Sonata GLS 4-Dr Sedan $2,628
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Data rating is based on single female driver age 50, two speeding tickets, no at-fault accidents, $1,000 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, homeowner, multi-policy, and claim-free. Premium amounts do not factor in specific Anchorage, AK garaging location which can lower or raise prices significantly.

Based upon these rates, you can assume that models like the Honda Odyssey, Honda CR-V, Ford F-150, and Chevrolet Impala are going to be some of the more affordable vehicles to insure after a few driving violations.

After a few driving violations, one of the big things that are looked at to help calculate the amount you pay each year for auto insurance is where you choose to live. Cities with larger populations are more likely to pay higher prices, whereas areas with fewer weather claims and lower vehicle theft rates have the luxury of lower rates.

The table below lists the most costly cities in Alaska with multiple speeding tickets to buy auto insurance in. Anchorage comes in at #1 costing $1,295 for the average insurance policy, which is about $108 per month.

How much does car insurance cost in Anchorage, AK?
Rank City Annual Premium
1 Anchorage $1,295
2 Fairbanks $1,272
3 College $1,270
4 Wasilla $1,266
5 Meadow Lakes $1,265
6 Palmer $1,265
7 Nikiski $1,202
8 Kodiak $1,191
9 Kenai $1,190
10 Homer $1,190
11 Sterling $1,190
12 Ketchikan $1,024
13 Sitka $997
14 Juneau $979
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Premium amounts are approximated as vehicle location can increase or decrease insurance rates noticeably.

Locating cheap insurance is confusing at best, and finding out which company offers the cheapest auto insurance rates with multiple speeding tickets will involve even more rate comparisons. Each company has a proprietary formula for determining prices, so first let’s look at the rankings for the auto insurance companies with the overall cheapest rates in Anchorage, AK.

It’s important that you understand Anchorage, AK auto insurance rates are calculated based on many things which can substantially decrease or increase the cost of your policy. Events like turning one year older, moving to a new city, or getting into an accident can trigger price changes resulting in some companies being more expensive than others.

Cheap Insurance Rates with License Points

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Rankings for the cheapest Alaska auto insurance companies
Rank Company Cost Per Year
1 Umialik $874
2 USAA $939
3 State Farm $975
4 Progressive $1,247
5 GEICO $1,886
6 Allstate $2,397
7 Safeco $2,451
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Umialik may offer some of the cheapest car insurance rates in Anchorage at around $874 annually. USAA, State Farm, Progressive, and GEICO also qualify as some of the best Anchorage, AK insurance companies.

As shown in the table above, if you have coverage with GEICO and switched to USAA, you could see a yearly price reduction of approximately $947. Alaska drivers with Allstate could save as much as $1,458 a year, and Safeco insureds might reduce prices by as much as $1,512 a year.

To compare your rates to other Alaska insurance companies, click here to get quotes or visit any of the companies below.

Be aware that those estimates are averaged across all insureds and vehicles and are not factoring in a specific zip code with multiple speeding tickets. So the company that has the cheapest rates for you may not even be in the list above. That underscores the importance of why you need to compare prices as often as possible using your own specific driver information and vehicle.

The diagram below illustrates how your deductible choice can change insurance costs when searching for cheap insurance with multiple speeding tickets. The premiums are based on a single female driver, comprehensive and collision coverage, and no other discounts are factored in.

In the chart above, a 40-year-old driver could save $218 a year by switching from a $100 deductible up to a $500 deductible, or save $326 by selecting a $1,000 deductible. Even younger drivers, such as the 20-year-old example, can save up to $548 annually by using higher deductibles when buying full coverage.

When choosing a higher deductible, it will be required to have enough savings to offset the extra out-of-pocket expense, which is the primary disadvantage of high deductibles.

Picking the right car insurance company is hard considering how many companies provide coverage in Anchorage. The company information shown below could help you select which coverage providers you want to consider when comparing rate quotes. The ratings below include companies with a national presence, so companies that only write business in Alaska or surrounding areas are not factored into the list.

Top 10 Major Auto Insurance Providers Overall in Anchorage

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

Top 10 Major Auto Insurance Providers in Anchorage Ranked by Customer Satisfaction

  1. USAA – 94%
  2. AAA Insurance – 91%
  3. State Farm – 90%
  4. GEICO – 89%
  5. The Hartford – 89%
  6. The General – 88%
  7. 21st Century – 88%
  8. Allstate – 88%
  9. Liberty Mutual – 88%
  10. Esurance – 87%

Full coverage versus liability-only in Anchorage

Paying a lower price for auto insurance should be important to most people, and one common way to reduce the cost of insurance with multiple speeding tickets is to only pay for liability coverage. The example below visualizes the comparison of insurance prices when comparing full coverage to liability only. The data assumes a clean driving record, no at-fault accidents, $1,000 deductibles, single status, and no discounts are applied to the premium.

As an average, comprehensive and collision coverage on your policy costs an extra $1,530 per year over and above liability only. That is a big expense that brings up the question if it’s worth it to buy full coverage. There is no definitive guideline that works best for making the decision to drop comp and collision coverage, but there is a guideline you can use. If the yearly cost of comp and collision coverage is more than 10% of replacement cost minus your deductible, then you might consider buying liability only.

For example, let’s say your vehicle’s book value is $11,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most your company will settle for is $10,500 after paying your policy deductible. If you are paying more than $1,050 annually for physical damage coverage, then you may want to consider only buying liability coverage.

There are some circumstances where dropping full coverage is not a good plan. If you still owe a portion of the original loan, you are required to maintain full coverage in order to prevent your loan from defaulting. Also, if you don’t have enough money to buy a different vehicle in the event your current vehicle is totaled, you should not drop full coverage.

The agents shown below can most likely help you determine which auto insurance coverages would be the best in your situation, as some drivers aren’t sure which coverage they need and prefer to have some professional guidance when trying to find lower insurance rates after a few driving violations. It can be difficult to do it yourself, so getting professional guidance from a licensed agent can give you comfort knowing your coverage gives you sufficient coverage at claim time.

To find an auto insurance agency in your neighborhood, click the button link following the list or click here to get price quotes now.

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