Who Has Cheap Anchorage Auto Insurance for Teenage Females?

This article would sure be shorter if we could simply give you the name of the exact car insurance company that has the cheapest rates in Alaska. It’s not that simple, unfortunately, as there are many unknowns like if you need full coverage or just liability, what deductibles you want to use, whether you are married or single, and the number of miles you drive each year, that all go into determining the rate you pay. This article delves into these topics and hopefully give you enough understanding to have a good start to your coverage search.

For teen girls, one of the more important criteria that determine the annual cost of car insurance is where you live in Anchorage. Regions with larger populations or more claims tend to have higher rates, whereas areas with lower vehicle theft rates and fewer weather claims have the benefit of cheaper car insurance.

The information below lists the priciest cities in Alaska for teenage females to purchase auto insurance in. Anchorage shows up at #1 with the yearly price of $1,308 on average, which is around $109 monthly.

Car insurance prices in Anchorage
Rank City Annual Premium
1 Anchorage $1,308
2 Meadow Lakes $1,291
3 College $1,282
4 Wasilla $1,266
5 Palmer $1,265
6 Sterling $1,238
7 Fairbanks $1,234
8 Nikiski $1,202
9 Kodiak $1,191
10 Kenai $1,190
11 Homer $1,190
12 Ketchikan $1,055
13 Juneau $969
14 Sitka $967
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Premium amounts are approximated as the specific geographic location can impact coverage rates significantly.

The make and model of vehicle needing coverage is probably the biggest factor when shopping around for economical insurance for teenage females. Vehicles with average performance, a great safety record, or a low likelihood of liability claims will cost quite a bit less to insure than adrenaline junky models. The next list presents car insurance costs for a number of the most economical vehicles to insure.

Cheapest Vehicles to Insure in Anchorage, AK
Vehicle Make and Model Estimated Cost for Full Coverage
Ford Escape XLS 4WD $5,314
Honda CR-V LX 4WD $5,319
Honda Accord LX-P 4-Dr Sedan $5,314
Toyota Prius $5,734
Ford Explorer XLT AWD $5,978
Volkswagen Jetta 2.0T Station Wagon $6,056
Ford Edge Limited 2WD $6,253
Chevrolet Impala LS $6,259
Toyota RAV4 Sport 2WD $6,300
Jeep Grand Cherokee Laredo 4WD $6,307
Chevrolet Equinox LT AWD $6,300
Ford F-150 SVT Raptor Super Cab 4WD $6,350
Dodge Grand Caravan Crew $6,355
Chevrolet Silverado LS Regular Cab 2WD $6,466
Honda Civic LX 4-Dr Sedan $6,576
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Data based on single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, and safe-driver. Rates do not factor in garaging location in Anchorage, AK which can decrease or increase insurance rates significantly.

Looking at the rates, you can assume that vehicles like the Ford Escape, Honda CR-V, Honda Accord, and Toyota Prius are likely to be some of the cheaper vehicles to insure for teen girls. Auto insurance rates will be higher anyway because there is a higher risk for teenage females, but generally speaking those makes and models will most likely have the best insurance prices compared to all other vehicles.

Deciphering which insurers offer the most affordable auto insurance rates for teenage females requires more time in order to find coverage that fits your budget. Each insurance company used slightly different criteria for setting rates, so let’s look at the rankings for the auto insurance companies with the most affordable rates in Anchorage.

It’s a good idea to know that Anchorage auto insurance rates are impacted by many things which can substantially change your annual premium. Simply improving your credit, moving to a new city, or getting a few speeding tickets can produce rate changes that can now make some companies cheaper in comparison to the competition.

Cheap Insurance Rates for Teens

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Rankings for the cheapest car insurance companies in Alaska
Rank Company Cost Per Year
1 Umialik $892
2 State Farm $965
3 USAA $967
4 Progressive $1,247
5 GEICO $1,962
6 Allstate $2,374
7 Safeco $2,501
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Umialik may have some of the best car insurance rates in Anchorage at around $892 each year. State Farm, USAA, Progressive, and GEICO also are some of the cheapest Anchorage, AK car insurance companies.

In the above example, if you currently buy coverage from USAA and switched to Umialik, you might see annual savings of around $75. Drivers with Progressive might save as much as $355 a year, and GEICO customers might see rate reductions of $1,070 a year.

Bear in mind that those premiums are averages across all insureds and vehicles and do not factor in an exact location for teenage females. So the company that has the cheapest rates for you may not even be in the list above. That illustrates why you need to compare prices as often as possible using your own driver data and vehicle information.

Irresponsible driving raises your rates

The best way to snag good auto insurance rates in Anchorage for teen girls is to drive attentively and maintain a clean driving record. The example below demonstrates how traffic citations and at-fault claims can drive up insurance premiums for each age group. The prices are based on a married male driver, full coverage, $100 deductibles, and no discounts are applied.

In the previous chart, the average cost of an auto insurance policy in Alaska per year with no accidents or violations is $1,784. Factor in two speeding tickets and the average cost jumps to $2,471, an increase of $687 each year. Then add two accidents along with the two speeding tickets and the yearly cost of auto insurance for teenage females goes up to an average of $4,927. That’s an increase of $3,143, or $262 per month, just for not paying attention while driving!

Which auto insurance company is best in Alaska?

Selecting the best car insurance company can be rather challenging considering how many companies sell coverage in Alaska. The ranking data shown below may help you decide which insurers you want to consider when trying find the best insurance for teenage females. The rankings below include companies with a nationwide focus, so companies that focus mainly on Alaska business are not included in these rankings.

Top 10 Large Auto Insurers 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%

Top 10 Large Auto Insurers 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

Difference between full coverage and liability only rates

Paying a lower price for auto insurance is probably important to the majority of people, and an easy way to save on the cost of insurance for teenage females is to only buy liability coverage. The example below shows the comparison of insurance rates with and without physical damage coverage. The prices are based on no violations or accidents, $1,000 deductibles, drivers are single, and no discounts are applied to the premium.

If averaged out across all ages, full coverage on your policy costs an additional $1,148 per year more than buying just liability insurance. That is a significant amount which raises the question if you should buy full coverage at all. There is no clear-cut rule that works best for making the decision to drop physical damage insurance, but there is a broad guideline. If the annual cost of coverage is 10% or more of the replacement cost of your vehicle minus the policy deductible, then it could be time to drop full coverage.

For example, let’s pretend your vehicle’s claim settlement value is $9,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most your company will settle for is $8,000 after the policy deductible has been paid. If it’s costing you more than $800 annually for full coverage, then it could be time to drop full coverage.

Why you should be shopping around

Anchorage auto insurance rates are based on many factors that may substantially change the price of coverage. Turning one year older, having a teenage driver, or having an at-fault accident may prompt premium changes that can make some companies cheaper than before.

Additionally, car insurance companies modify pricing as often as every quarter to adjust for unexpected claims or profits. A period of higher than normal claims can cause rate hikes, while a profitable period may cause lower-cost Anchorage car insurance rates.

To help illustrate this point, the chart below shows a variety of companies that have the cheapest car insurance in Anchorage, AK for a 35-year-old female driver with a clean driving record, no accidents, and great credit. When quoting prices based on her current risk factors, Umialik may have the lowest car insurance rates in Anchorage at $1,147 each year. This is $396 less than the average policy premium paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO are the remaining cheapest Anchorage, AK auto insurance companies.

In this next rate comparison, we will give the driver in the first chart a chargeable accident, a lower credit rating, and an imperfect driving record. Because each insurer has a proprietary method for determining prices, getting updated rate quotes may now show a significantly different list of affordable Anchorage car insurance companies as shown below.

USAA now has the cheapest price in Anchorage, AK with State Farm, Umialik, Progressive, and Safeco now being in the top five. This example shows why Anchorage drivers need to perform an extensive rate comparison when trying to get the best auto insurance quotes for teenage females.

Car insurance prices are made up of many risk factors and can increase or decrease at any time, so the cheapest option when you bought your policy may now be costing you a lot of money.