Truthfully, the best way to find affordable quotes for Fiat 500 insurance in Anchorage is to make a habit of regularly comparing prices from insurance carriers in Alaska.
- Gain an understanding of how companies set rates and the things you can control to drop your rates. Many policy risk factors that increase rates such as your driving record and a negative credit history can be eliminated by making lifestyle changes or driving safer.
- Compare prices from direct carriers, independent agents, and exclusive agents. Direct and exclusive agents can only give rate quotes from one company like Progressive and State Farm, while agents who are independent can quote rates for many different companies.
- Compare the price quotes to the price on your current policy to see if cheaper 500 coverage is available in Anchorage. If you can save money and decide to switch, make sure there is no lapse in coverage.
- Give proper notification to your current agent or company to cancel your current coverage and submit a down payment along with a signed application to your new agent or company. As soon as you can, keep your new proof of insurance paperwork in an accessible location in your vehicle.
An important part of this process is that you’ll want to compare similar deductibles and liability limits on every quote and and to get rates from as many carriers as you can. Doing this enables a fair price comparison and many rates to choose from.
It’s a fact that insurance companies don’t want customers comparing rates. Drivers who do rate comparisons are likely to buy a new policy because they have a good chance of finding a cheaper policy. A survey found that people who compared rates regularly saved over $860 a year compared to those who never shopped around.
If finding budget-friendly Fiat 500 insurance is your intention, then learning about the best way to compare cheaper coverage can help make the process easier.
What Determines Fiat 500 Insurance Costs?
Many different elements are considered when quoting car insurance. Some are obvious like a motor vehicle report, although others are more obscure such as your credit history or your commute time.
Listed below are some of the most rate-impacting factors used by your company to calculate your premiums.
- Always have car insurance – Having an insurance coverage lapse is a fast way to increase your renewal premiums. In addition to paying higher premiums, getting caught without coverage could earn you a fine, jail time, or a revoked license.
- Improve your credit history – Your credit history is a large factor in determining premium rates. People with very high credit ratings tend to file fewer claims and have better driving records than drivers who have lower credit scores. Therefore, if your credit history is lower than you’d like, you could be paying less to insure your Fiat 500 if you improve your credit rating.
- More traffic equals higher prices – Having an address in small towns and rural areas can save you money when buying car insurance. Fewer drivers on the road translates into fewer accident claims as well as less vandalism and auto theft. People who live in big cities have to deal with more aggressive driving styles and longer commutes to work. Spending more time driving statistically corresponds to a higher accident and claim rate.
- You might get higher rates if you are single – Having a wife or husband helps lower the price when buying car insurance. Marriage demonstrates that you tend to be more responsible it has been statistically shown that married drivers get in fewer accidents.
- If you don’t need it don’t buy it – There are a lot of additional coverages that sound like a good idea at the time if you aren’t diligent. Coverage for things like rental car coverage, better glass coverage, and extra equipment coverage are some examples. They may sound like good ideas when discussing your needs, but if they’re wasting money eliminate the coverages to reduce your premium.
- Too many policy claims drive up prices – If you are the type of insured that files lots of claims don’t be surprised to see either a policy non-renewal or much higher rates. Auto insurance companies in Alaska award lower rates to people who are not frequent claim filers. Your car insurance is designed for the bigger claims that can’t be paid out-of-pocket.
- Save by driving safer vehicles – Vehicles with high crash test scores are cheaper to insure. The safest vehicles help reduce the chance of injuries in an accident and fewer serious injuries translates into savings for insurance companies which can mean better rates for you. If your Fiat 500 earned at least four stars on Safercar.gov it may cost less to insure.
Loss probability for a Fiat 500 – Companies include the past claim history for a vehicle to calculate a price that will offset any claims. Models that the data determines to have a higher amount or frequency of claims will have a higher cost to insure. The table below outlines the collected loss data for Fiat 500 vehicles.
For each policy coverage type, the claim amount for all vehicles, without regard to make or model, is set at 100. Values that are under 100 suggest a positive loss record, while values that are above 100 indicate more frequent losses or an increased chance of a larger loss.
Fiat 500 Insurance Claim Statistics Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Fiat 500 72 76 66 96 89 84 Fiat 500 Convertible 76 79 60 85 Fiat 500 Electric 73 59 76 60 Fiat 500L 112 80 102 128 93 97BETTERAVERAGEWORSE
Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years
Persistence is the key to cheap rates
We’ve covered a lot of ways to save on Fiat 500 insurance in Anchorage. The key thing to remember is the more times you quote, the better chance you’ll have of finding the cheapest Fiat 500 rate quotes. Consumers could even find that the biggest savings come from some of the lesser-known companies. These companies may have significantly lower car insurance rates on certain market segments as compared to the big name companies such as GEICO and State Farm.
Some insurance companies may not provide the ability to get a quote online and these small, regional companies sell through independent insurance agents. Budget-conscious Fiat 500 insurance is definitely available both online as well as from independent agents in Anchorage, so you need to compare both to have the best chance of lowering rates.
Additional auto insurance information can be read below:
- All About Airbag Safety (State Farm)
- Who Has Affordable Car Insurance Rates for Drivers Over Age 60 in Anchorage? (FAQ)
- Who Has Affordable Anchorage Auto Insurance Rates for Good Students? (FAQ)
- Who Has Affordable Auto Insurance Quotes for a Nissan Sentra in Anchorage? (FAQ)
- How Much is Anchorage Auto Insurance for a Hyundai Elantra? (FAQ)
- Reducing Your Risks in a Car Crash Video (iihs.org)
- Car Insurance FAQ (Trusted Choice)