Chevy Colorado Insurance Quotes in Anchorage

Insurance quote for Chevy Colorado in AnchorageAre you researching cheaper Chevy Colorado insurance in Anchorage? When shopping for cheaper insurance, are you intimidated by the number of car insurance sources in your area? You’re not alone. People have so many sources available that it can be a difficult challenge to find better rates for Chevy Colorado insurance in Anchorage. If you live there, you know that Anchorage is the perfect city to reside in, but the high cost of car insurance can make it nearly impossible to afford good insurance coverage.

It’s safe to assume that insurance companies don’t want their policyholders to compare prices. Drivers who shop around for better prices will presumably move their business because of the high probability of finding discount prices. A recent survey found that people who routinely shopped around saved on average $865 annually compared to other drivers who never compared other company’s rates.

If finding the cheapest rates on Chevy Colorado insurance is your ultimate target, then having an understanding of how to get rate quotes and compare car insurance can make the process less intimidating.

Car insurance statistics for a Chevy Colorado

The information displayed next highlights estimates of prices for Chevy Colorado models. Having a better understanding of how insurance policy premiums are formulated is important for you to make informed purchases.

Chevrolet Colorado Insurance Rates in Anchorage, AK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Colorado LT 2WD $152 $286 $278 $16 $84 $816 $68
Colorado LT Extended Cab 2WD $178 $348 $278 $16 $84 $904 $75
Colorado LT 4WD $178 $286 $236 $14 $70 $784 $65
Colorado LT Crew Cab 2WD $178 $348 $278 $16 $84 $904 $75
Colorado LT Extended Cab 4WD $178 $286 $236 $14 $70 $784 $65
Colorado LT Crew Cab 4WD $204 $348 $236 $14 $70 $872 $73
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Above prices assume married female driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, homeowner, multi-vehicle, safe-driver, and multi-policy. Premium costs do not factor in specific Anchorage garaging location which can change auto insurance rates substantially.

Full coverage versus liability only rates

The information below visualizes the comparison of Chevy Colorado insurance premiums with full physical damage coverage compared to only buying the minimum liability limits required in Alaska. The rate quotes are based on no claims or driving violations, $250 deductibles, drivers are not married, and no policy discounts are applied.

When to stop buying physical damage coverage

There is no written rule to eliminate comp and collision coverage, but there is a guideline you can use. If the annual cost of coverage is more than about 10% of any settlement you would receive from your insurance company, then you might want to think about dropping full coverage.

For example, let’s say your Chevy Colorado replacement value is $4,000 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $3,000 after the deductible is paid. If you are paying over $300 annually for full coverage, then you may want to consider only buying liability coverage.

There are some situations where dropping full coverage is not in your best interest. If you haven’t satisfied your loan, you are required to maintain full coverage as part of the loan conditions. Also, if you cannot afford to purchase a different vehicle if your current one is damaged, you should not eliminate full coverage.

How You Can Control Chevy Colorado Insurance Costs

Part of the car insurance buying process is learning some of the things that help calculate the price you pay for car insurance. If you understand what positively or negatively impacts your premiums, this empowers consumers to make smart changes that can help you get cheaper rates. Many different elements are taken into consideration when pricing auto insurance. Most are fairly basic such as traffic violations, but other factors are less apparent like your vehicle usage or your vehicle rating.

Save money by staying claim free – If you frequently file small claims, you should expect increased rates or even have your policy non-renewed. Companies in Alaska provide the best rates to people that do not abuse their auto insurance. Your insurance policy is designed for the large, substantial claims.

Physical damage deductibles – The deductibles state the amount of money you are willing to pay if you file a covered claim. Physical damage insurance, also called ‘full coverage’, insures against damage to your car. Some examples of covered claims would be colliding with a stationary object, damage from fire, and having a roll-over accident. The more of the claim the insured is willing to pay, the bigger discount you will receive.

Younger drivers pay more – Older, more experienced drivers are viewed as being more responsible, tend to file fewer claims, and receive fewer citations. Teenage drivers have been known to be careless and easily distracted when driving so car insurance rates are higher.

The following data uses these assumptions: single driver, full coverage with $250 deductibles, and no discounts or violations.

Your address can modify price – Being located in a small town can save you money when trying to find low car insurance rates. Fewer drivers on the road corresponds to lower accident rates. Drivers in populated Alaska areas have more auto accidents and more time behind the wheel. More time behind the wheel means more chances of being involved in an auto accident.

Vehicle options impact rates – Selecting a car model with advanced anti-theft systems can get you a discount on your car insurance. Systems that thwart thieves like vehicle immobilizer systems, OnStar, and tracking devices like LoJack all hinder vehicle theft.

Insurance loss data for a Chevy Colorado – Insurers analyze historical claim data to help determine the rate you pay. Models that have a higher amount or frequency of claims will have increased rates.

The table below outlines the insurance loss data used by companies for Chevy Colorado vehicles. For each policy coverage, the claim amount for all vehicles combined as an average is equal to 100. Percentage numbers below 100 imply a favorable loss record, while numbers that are greater than 100 indicate a higher chance of having a claim or a tendency for claims to be larger.

Chevrolet Colorado Insurance Claim Statistics
Specific Chevrolet Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
Chevrolet Colorado Crew Cab 2WD 73 57 64
Chevrolet Colorado Crew Cab 4WD 90 89 86 67
Chevrolet Colorado Ext Cab 2WD 55
Chevrolet Colorado Ext Cab 4WD 67

Empty fields indicate not enough data collected
Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

How to find a good Anchorage car insurance company

Selecting the best company can be rather challenging considering how many companies are available to choose from in Alaska. The ranking information shown below could help you choose which auto insurers to look at putting your business with.

Top 10 Anchorage Car Insurance Companies Ranked by Value

  1. USAA
  2. American Family
  3. The Hartford
  4. The General
  5. State Farm
  6. AAA Insurance
  7. Allstate
  8. Esurance
  9. Safeco
  10. 21st Century

Top 10 Anchorage Car Insurance Companies by A.M. Best Rank

  1. USAA – A++
  2. State Farm – A++
  3. GEICO – A++
  4. Esurance – A+
  5. Allstate – A+
  6. Progressive – A+
  7. The Hartford – A+
  8. The General – A-
  9. AAA Insurance – A
  10. Liberty Mutual – A

Find affordable rates by being thorough

Affordable Chevy Colorado insurance in Anchorage can be purchased online as well as from insurance agents, and you need to comparison shop both to get a complete price analysis. Some insurance companies may not have rate quotes online and usually these small, regional companies only sell coverage through independent agents.

We just covered many tips how you can compare Chevy Colorado insurance rates in Anchorage. The key concept to understand is the more times you quote, the higher your chance of finding cheaper Anchorage car insurance quotes. Drivers may even discover the most savings is with a small mutual company.

As you prepare to switch companies, it’s very important that you do not buy less coverage just to save a little money. In many instances, an insured dropped uninsured motorist or liability limits only to discover later that it was a big mistake. The ultimate goal is to buy a smart amount of coverage for the lowest price while not skimping on critical coverages.

How to buy lower priced Chevy Colorado insurance in Anchorage

The easiest way to get low-cost Chevy Colorado insurance is to start comparing prices regularly from insurers in Anchorage. This can be done by following these guidelines.

  1. Gain an understanding of what is in your policy and the modifications you can make to prevent rate increases. Many rating criteria that cause rate increases such as at-fault accidents and a less-than-favorable credit history can be rectified by making minor changes to your lifestyle.
  2. Request price quotes from independent agents, exclusive agents, and direct companies. Direct companies and exclusive agencies can provide rates from one company like Progressive or Farmers Insurance, while agents who are independent can provide prices for a wide range of companies.
  3. Compare the new rate quotes to your existing policy to determine if switching companies saves money. If you find a lower rate and switch companies, make sure there is no lapse between the expiration of your current policy and the new one.
  4. Provide adequate notice to your current company of your decision to cancel your current coverage. Submit payment and a signed application to your new carrier. Once the paperwork is finalized, put the new certificate of insurance in an easily accessible location.

A good tip to remember is to compare similar coverage information on every quote request and to quote with as many carriers as you can. Doing this enables an apples-to-apples comparison and a better comparison of the market.

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