A study showed that the vast majority of consumers in Alaska kept their policy with the same company for more than four years, and virtually 40% of consumers have never compared rates from other carriers. With the average premium in America being $1,847, drivers could cut their rates by $850 a year by just shopping around, but most just don’t grasp the benefits if they swap their current policy for a cheaper one.
The easiest way to get budget Honda Accord Hybrid insurance is to start comparing rates regularly from providers in Anchorage.
- Step 1: It will benefit you to learn about the different coverages in a policy and the measures you can take to prevent expensive coverage. Many things that result in higher rates such as speeding tickets, careless driving and a less-than-favorable credit score can be eliminated by improving your driving habits or financial responsibility. Read the full article for additional ideas to help keep rates affordable and get bigger discounts.
- Step 2: Obtain price quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can give quotes from a single company like GEICO or Farmers Insurance, while agents who are independent can provide rate quotes for a wide range of companies.
- Step 3: Compare the new quotes to your existing policy to see if a cheaper rate is available. If you can save money and switch companies, make sure coverage does not lapse between policies.
An important bit of advice to remember is to make sure you enter similar coverage information on each quote request and and to compare as many carriers as you can. Doing this guarantees a fair price comparison and a thorough selection of prices.
Cheaper Honda Accord Hybrid insurance rates in Anchorage
Auto insurance is not inexpensive, but companies offer discounts that you may not even be aware of. Certain credits will be shown at the time you complete a quote, but a few must be asked for before they will apply. If you check and find you aren’t receiving every discount possible, you are not getting the best rate possible.
- Fewer Miles Equal More Savings – Driving fewer miles can qualify you for substantially lower rates.
- Telematics Data – Anchorage drivers who agree to allow data collection to track driving habits through the use of a telematics system like Drivewise from Allstate or In-Drive from State Farm could save a few bucks as long as the data is positive.
- ABS and Traction Control Discounts – Cars with anti-lock braking systems can avoid accidents and qualify for as much as a 10% discount.
- E-sign Discounts – A few larger companies may give you up to $50 simply for signing on the internet.
- Own a Home – Just being a homeowner may trigger a policy discount on auto insurance because maintaining a house requires personal responsibility.
- Anti-theft System – Cars that have factory anti-theft systems can help prevent theft and qualify for as much as a 10% discount.
- Memberships – Participating in a civic or occupational organization in Anchorage is a good way to get lower rates on auto insurance.
- Use Seat Belts – Using a seat belt and requiring all passengers to wear their seat belts can save 10% or more off the medical payments premium.
Discounts save money, but please remember that most discounts do not apply to the entire cost. Some only reduce specific coverage prices like comprehensive or collision. So despite the fact that it appears you could get a free auto insurance policy, auto insurance companies aren’t that generous. But all discounts will bring down your overall premium however.
A list of auto insurance companies and a selection of discounts are detailed below.
- Progressive policyholders can earn discounts including multi-policy, multi-vehicle, homeowner, continuous coverage, online signing, and good student.
- MetLife may have discounts that include good driver, claim-free, multi-policy, defensive driver, and good student.
- Mercury Insurance offers discounts for professional/association, low natural disaster claims, anti-theft, multi-car, and accident-free.
- Nationwide offers premium reductions for business or organization, defensive driving, family plan, accident-free, and multi-policy.
- GEICO discounts include multi-vehicle, multi-policy, military active duty, emergency military deployment, daytime running lights, and five-year accident-free.
- AAA has discounts for multi-car, multi-policy, good student, AAA membership discount, education and occupation, and pay-in-full.
If you need lower rates, check with every company the best way to save money. Some credits may not apply to policyholders in Anchorage. To locate providers that have a full spectrum of discounts in Anchorage, follow this link.
The auto insurance companies shown below provide free rate quotes in Anchorage, AK. To locate the best cheap car insurance in AK, we suggest you compare several of them in order to find the cheapest rates.
When to talk to an agent
Certain consumers still prefer to buy from a local agent and that is a personal choice. Licensed agents can help you choose the best coverages and help in the event of a claim. The best thing about comparing car insurance online is you can get lower auto insurance rates and still choose a local agent.
Upon completion of this form (opens in new window), the quote information gets sent to local insurance agents in Anchorage who want to provide quotes to get your business. You won’t even need to contact any insurance agencies as quotes are delivered directly to your email. If you want to compare prices from a specific insurance company, just search and find their rate quote page and give them your coverage information.
Finding the right insurance company requires you to look at more than just a low price. Below are some questions you should ask.
- Are they in the agency full-time?
- Is the quote a firm price?
- If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
- Do you qualify for any additional discounts?
- Is every driver in your family covered?
- Does the agent help file claims?
- Are there any hidden costs in their price quote and does it include driving and credit history?
Types of auto insurance agents in Anchorage
If you want a local agent, there are a couple of types of agencies that you can choose from. Car insurance agents in Anchorage can be categorized as either independent or exclusive depending on the company they work for. Either one can sell affordable car insurance policies, but it’s worth mentioning the differences since it may influence your selection of an agent.
Exclusive Car Insurance Agents
Exclusive agents are contracted to one company such as Allstate, State Farm and Farm Bureau. Exclusive agents cannot provide prices from multiple companies so always compare other rates. Exclusive insurance agents are very knowledgeable in insurance sales which helps them sell insurance even at higher premiums.
The following is a list of exclusive agencies in Anchorage who can help you get comparison quotes.
Independent Agencies or Brokers
These agents can sell policies from many different companies and that allows them to write policies through many companies and find you cheaper rates. If you are not satisfied with one company, your agent can switch companies which requires no work on your part. If you are trying to find cheaper rates, you absolutely need to include price quotes from several independent insurance agents for the best price selection.
Below is a short list of independent insurance agencies in Anchorage who can help you get rate quotes.
Choosing Honda Accord Hybrid insurance is an important decision
Despite the potentially high cost of Honda Accord Hybrid insurance, auto insurance is a good idea for several reasons.
- Just about all states have mandatory insurance requirements which means you are required to carry specific limits of liability protection in order to license the vehicle. In Alaska these limits are 50/100/25 which means you must have $50,000 of bodily injury coverage per person, $100,000 of bodily injury coverage per accident, and $25,000 of property damage coverage.
- If you took out a loan on your Honda Accord Hybrid, more than likely the lender will make it mandatory that you buy insurance to ensure the loan is repaid in case of a total loss. If you do not pay your insurance premiums, the bank may buy a policy for your Honda at an extremely high rate and make you pay much more than you were paying before.
- Auto insurance protects not only your vehicle but also your assets. It will also pay for hospital and medical expenses for not only you but also any passengers injured in an accident. Liability insurance, one of your policy coverages, also pays expenses related to your legal defense if someone files suit against you as the result of an accident. If you receive damage to your vehicle caused by a storm or accident, comprehensive and/or collision insurance will cover the damage repairs after a deductible is paid.
The benefits of carrying adequate insurance are definitely more than the cost, specifically if you ever have a liability claim. According to a 2015 survey, the average American driver overpays more than $825 a year so you should quote your policy with other companies once a year at a minimum to be sure current rates are still competitive.
Car insurance coverage breakdown
Understanding the coverages of a car insurance policy helps when choosing the right coverages and proper limits and deductibles. The terms used in a policy can be confusing and reading a policy is terribly boring. Below you’ll find the usual coverages found on the average car insurance policy.
Liability auto insurance – Liability coverage will cover injuries or damage you cause to other’s property or people in an accident. It consists of three limits, per person bodily injury, per accident bodily injury, and a property damage limit. As an example, you may have liability limits of 50/100/25 which means a $50,000 limit per person for injuries, $100,000 for the entire accident, and a total limit of $25,000 for damage to vehicles and property.
Liability can pay for claims like bail bonds, court costs and legal defense fees. How much coverage you buy is your choice, but you should buy as high a limit as you can afford. Alaska state minimum liability requirements are 50/100/25 but it’s recommended drivers buy more liability than the minimum.
The next chart shows why low liability limits may not be enough.
UM/UIM (Uninsured/Underinsured Motorist) coverage – Uninsured or Underinsured Motorist coverage provides protection from other drivers when they either are underinsured or have no liability coverage at all. This coverage pays for injuries sustained by your vehicle’s occupants and damage to your Honda Accord Hybrid.
Because many people carry very low liability coverage limits (50/100/25 in Alaska), their limits can quickly be used up. This is the reason having UM/UIM coverage is a good idea.
Comprehensive auto coverage – Comprehensive insurance coverage pays to fix your vehicle from damage from a wide range of events other than collision. You first have to pay a deductible and then insurance will cover the rest of the damage.
Comprehensive can pay for things like fire damage, damage from flooding and hitting a bird. The maximum payout your car insurance company will pay is the actual cash value, so if the vehicle is not worth much consider dropping full coverage.
Collision coverage – Collision insurance pays for damage to your Accord Hybrid resulting from colliding with a stationary object or other vehicle. You have to pay a deductible then the remaining damage will be paid by your insurance company.
Collision coverage pays for things such as driving through your garage door, hitting a mailbox, colliding with another moving vehicle, crashing into a ditch and crashing into a building. Collision is rather expensive coverage, so analyze the benefit of dropping coverage from lower value vehicles. Drivers also have the option to increase the deductible on your Accord Hybrid to get cheaper collision coverage.
Medical payments and PIP coverage – Coverage for medical payments and/or PIP kick in for immediate expenses for things like dental work, X-ray expenses, prosthetic devices and surgery. They can be used to fill the gap from your health insurance policy or if you do not have health coverage. Coverage applies to not only the driver but also the vehicle occupants and will also cover being hit by a car walking across the street. Personal Injury Protection is not universally available and gives slightly broader coverage than med pay
Don’t give up on cheaper coverage
When searching for cheaper Anchorage auto insurance quotes, do not buy lower coverage limits just to save a few bucks. In many cases, an accident victim reduced collision coverage only to find out that the small savings ended up costing them much more. The ultimate goal is to buy enough coverage at the lowest possible cost while not skimping on critical coverages.
We covered a lot of tips how to compare Honda Accord Hybrid insurance premium rates in Anchorage. The key thing to remember is the more you quote Anchorage auto insurance, the better your comparison will be. You may even find the best price on auto insurance is with some of the lesser-known companies. Some small companies may cover specific market segments cheaper as compared to the big name companies such as GEICO and State Farm.
- Speed and Speed Limit FAQ (iihs.org)
- Who Has the Cheapest Anchorage Car Insurance Rates for Immigrants? (FAQ)
- How Much are Anchorage Auto Insurance Quotes for High Mileage Drivers? (FAQ)
- How Much are Anchorage Car Insurance Quotes for Real Estate Agents? (FAQ)
- Eight Auto Insurance Myths (Insurance Information Institute)
- New vehicle ratings focus on headlights (Insurance Institute for Highway Safety)