Honda Accord Insurance Rates in Anchorage

It takes a few minutes, but the best way to find lower priced car insurance rates in Anchorage is to compare prices once a year from insurers that insure vehicles in Alaska.

1. Take a few minutes and learn about how car insurance works and the measures you can control to prevent expensive coverage. Many things that drive up the price such as at-fault accidents, careless driving, and a substandard credit history can be controlled by improving your driving habits or financial responsibility.
2. Get rate quotes from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can only quote rates from one company like GEICO and State Farm, while agents who are independent can provide price quotes for many different companies.
3. Compare the price quotes to your current policy to see if a cheaper rate is available in Anchorage. If you find a lower rate quote, make sure there is no lapse in coverage.
4. Notify your agent or company to cancel your current coverage and submit payment and a signed application for the new coverage. When you receive it, put the proof of insurance paperwork along with the vehicle’s registration papers.

The critical component of shopping around is to use identical deductibles and limits on every quote and and to get prices from as many different companies as possible. Doing this ensures an apples-to-apples comparison and maximum price selection.

It’s easy to assume that insurance companies don’t want policyholders to compare prices from other companies. Insureds who compare price quotes will presumably buy a different policy because there are good odds of finding a more affordable policy. A survey found that consumers who regularly compared rates saved over $70 a month compared to policyholders who never shopped around.

If finding the lowest price on Honda Accord insurance is your intention, then having some insight into the best way to quote and compare insurance rates can make the process more efficient.

If you have coverage now, you stand a good chance to be able to cut your premiums using the ideas you’re about to read. Finding the cheapest insurance coverage in Anchorage is really not that difficult. But Alaska drivers need to have an understanding of how insurance companies calculate their prices because rates fluctuate considerably.

Companies offering cheap Honda Accord prices in Anchorage, AK

The providers in the list below can provide price quotes in Anchorage, AK. If you want cheap auto insurance in AK, we recommend you visit as many as you can to find the most competitive car insurance rates.

Honda Accord detailed coverage information

The coverage table shown below covers detailed analysis of insurance coverage prices for Honda Accord models. Having a better understanding of how rate quotes are figured can aid in making smart choices when selecting a coverage provider.

Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-vehicle, and multi-policy. Prices do not factor in your specific Anchorage location which can raise or lower coverage rates considerably.

Rate comparison for different deductibles

A question often asked by Anchorage drivers is how high should the deductibles for physical damage be. The figures shown below may help to conceptualize the rate fluctuation between low and high physical damage deductibles. The first table uses a $100 physical damage deductible and the second pricing table uses a $500 deductible.

Data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include safe-driver, homeowner, multi-policy, claim-free, and multi-vehicle. Rate information does not factor in garaging location in Anchorage which can affect price quotes greatly.

We can estimate from the data above that using a $100 deductible will cost you approximately $19 more each month or $228 annually than requesting the higher $500 deductible. Because you would pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you tend to have more than 21 months between claims, you would save more money by selecting a higher deductible. Here’s the way you can do this calculation yourself.

An important sidenote is that a higher deductible results in more money out-of-pocket when you have to file a claim. You need to have some money saved in order to pay more to get your vehicle repaired.

Comparison of full coverage and liability-only policies

The diagram below illustrates the difference between Honda Accord insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The data assumes no accidents or driving violations, $100 deductibles, drivers are single, and no additional discounts are factored in.

Deciding between full coverage and liability only

There is no specific rule for dropping physical damage insurance, but there is a general guideline you can use. If the annual cost of comprehensive and collision coverage is about 10% or more of the vehicle’s replacement cost less your deductible, then you may want to consider only buying liability coverage.

For example, let’s say your Honda Accord book value is $4,000 and you have $1,000 deductibles. If your vehicle is totaled, you would only receive $3,000 after the policy deductible has been paid. If it’s costing you more than $300 a year to have full coverage, then it’s probably a good time to buy liability coverage only.

There are a few situations where only buying liability is not a good idea. If you still have a loan on your vehicle, you are required to maintain full coverage in order to satisfy the requirements of the loan. Also, if your finances do not allow you to purchase a different vehicle if your current one is damaged, you should not eliminate full coverage.

Lower Your Anchorage Insurance Premiums

Many different elements are used in the calculation when you get your auto insurance bill. Some are obvious like an MVR report, although others are more transparent such as your marital status or how safe your car is. Consumers need to have an understanding of the different types of things that help calculate the level of your policy premiums. When consumers understand what determines base rates, this enables you to make decisions that may result in lower rates.

Listed below are some of the most rate-impacting factors used by your company to calculate your rate level.

• Never allow your auto insurance to lapse – Driving with no insurance is illegal and your next policy will cost more because you let your insurance expire. Not only will you pay more, getting caught without coverage will get you a hefty fine and possibly a revoked license.
• Discounts for alarms and GPS tracking – Driving a car with a theft deterrent system can help lower your rates. Theft deterrent systems such as tamper alarm systems, vehicle immobilizer technology and General Motors OnStar can help prevent your car from being stolen.
• Single drivers take more risk – Your spouse helps lower the price when buying auto insurance. Marriage demonstrates that you tend to be more responsible and statistics show drivers who are married file infrequent claims.

• Driver age impacts premiums – More mature drivers are more cautious drivers, tend to file fewer claims, and tend to be get fewer driving tickets. Teen drivers are known to be careless and easily distracted when behind the wheel and because of this, their auto insurance rates are much higher.

  The chart below assumes a single driver, full coverage with $250 deductibles, and no discounts or violations.

• Insurance loss data for Honda Accord vehicles – Companies use statistical claims data as a way to help calculate a profitable premium rate. Models that are shown to have increased claim numbers or amounts will have higher rates. The table below illustrates the loss history for Honda Accord vehicles.

  For each policy coverage type, the loss probability for all vehicles, as a total average, equals 100. Values that are under 100 indicate better than average losses, while percentage values above 100 point to more losses or a tendency for claims to be larger.

  
  

  Car Insurance Loss Data for Honda Accord Models

  Vehicle Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Honda Accord	91	85	90	122	117	94
  Honda Accord Hybrid	96	80	98	89	76	84
  Honda Accord Crosstour 4dr 2WD	85	97	83	122	113	94
  Honda Accord Crosstour 4dr 4WD	99	102	94	120	93

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Discount Anchorage insurance rates

Insurance can cost an arm and a leg, but you can get discounts that many people don’t even know exist. Some discounts apply automatically when you purchase, but once in a while a discount must be asked for prior to getting the savings.

• Defensive Driver Discounts – Taking time to complete a defensive driver course is a good idea and can lower rates and easily pay for the cost of the class.
• Senior Citizen Discount – Mature drivers can get a discount up to 10%.
• Passive Restraints – Factory options such as air bags or motorized seat belts may get savings of more than 20%.
• Military Rewards – Having an actively deployed family member may qualify for rate reductions.
• Anti-lock Brake Discount – Cars with anti-lock braking systems have fewer accidents and earn discounts up to 10%.
• Federal Government Employee – Simply working for the federal government may reduce rates when you quote Anchorage auto insurance with certain companies.
• Life Insurance – Select insurance companies reward you with a small discount if you purchase life insurance.
• Smart Student Discounts – This discount may save as much as 25% on a Anchorage auto insurance quote. Earning this discount can benefit you well after school through age 25.

Don’t be shocked that some of the credits will not apply to the whole policy. Most only reduce the price of certain insurance coverages like physical damage coverage or medical payments. So even though you would think you would end up receiving a 100% discount, you aren’t that lucky. But all discounts will positively reduce your insurance premiums.

The chart below compares Honda Accord insurance costs with and without discounts being applied to the rates. The data is based on a male driver, no claims, a clean driving record, Alaska state minimum liability limits, comprehensive and collision coverage, and $1,000 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, multi-policy, marriage, homeowner, and multi-car discounts applied.

Companies who might offer most of these discounts include:

• Progressive
• AAA
• Farmers Insurance
• GEICO
• Esurance
• SAFECO
• State Farm

Before you buy a policy, ask each company or agent which discounts they offer. Some of the discounts discussed earlier may not apply to policies in Anchorage. To see providers that offer multiple discounts in Alaska, follow this link.

Shop online but buy locally

A lot of people prefer to get professional advice from a licensed agent and that is recommended in a lot of cases One of the great benefits of comparing insurance prices online is that you can find better rates and still buy from a local agent.

For easy comparison, once you complete this short form, your information is transmitted to local insurance agents in Anchorage who will return price quotes for your insurance coverage. There is no need to leave your computer since rate quotes are delivered to your email. You can find the lowest rates without a big time investment. If you need to get a price quote for a specific company, feel free to navigate to their website and complete a quote there.

Selecting an insurer requires more thought than just the bottom line cost. These are some questions you should get answers to.

• Will one accident increase rates?
• If you have an accident, are you able to get your vehicle repaired at the shop of your choice?
• How many years have they been established?
• Is insurance their full-time profession?
• If independent agents, which companies do they recommend?

If you would like to find a reliable insurance agency, there are two different types of agents from which to choose. Insurance policy providers can be described as either exclusive agents or independent agents.

Exclusive Insurance Agencies

Exclusive agencies work for only one company like Farmers Insurance, Allstate, or State Farm. They are unable to provide prices from multiple companies so keep that in mind. These agents are highly trained on the products they sell which aids in selling service over price.

Listed below are Anchorage exclusive agencies who can help you get rate quotes.

More Anchorage agents

Independent Agents (or Brokers)

Agents of this type do not have single company limitations and that gives them the ability to insure with multiple insurance companies and help determine which has the cheapest rates. If your agent finds better pricing, an independent agent can move your coverage and you don’t have to find a new agent.

When searching for an agent, it’s recommended you get some free quotes from several independent insurance agents to ensure the widest selection of prices.

The following is a short list of independent agents in Anchorage willing to provide comparison quotes.

More Anchorage agents

There’s no such thing as the perfect insurance policy

When it comes to choosing adequate coverage, there is no best way to insure your cars. Every insured’s situation is different and your policy should reflect that.
For example, these questions might help in determining whether you would benefit from professional advice.

• How can I get high-risk coverage after a DUI?
• Am I covered when driving on a suspended license?
• When should my teen driver be added to my policy?
• Are rock-chip repairs free?
• What if I don’t agree with a claim settlement offer?
• Are my company tools covered if they get stolen?
• Do I need motorclub coverage?

If it’s difficult to answer those questions, you might consider talking to an insurance agent. If you don’t have a local agent, take a second and complete this form or go to this page to view a list of companies.

Affordable auto insurance rates are available

More affordable auto insurance in Anchorage can be found from both online companies and from local agencies, and you should compare rates from both so you have a total pricing picture. A few companies do not provide online rate quotes and many times these small, regional companies sell through independent insurance agencies.

When trying to cut insurance costs, make sure you don’t skimp on critical coverages to save a buck or two. There are too many instances where an insured dropped liability coverage limits and learned later that a couple dollars of savings turned into a financial nightmare. Your goal should be to purchase a proper amount of coverage at the best price, but do not sacrifice coverage to save money.

Helpful resources

• Insuring a Leased Car (Insurance Information Institute)
• Who Has the Cheapest Car Insurance Rates for Drivers Under 21 in Anchorage? (FAQ)
• What Insurance is Cheapest for Drivers with Accidents in Anchorage? (FAQ)
• Who Has Affordable Car Insurance Quotes for a Ford Explorer in Anchorage? (FAQ)
• Top Signs Your Brakes are Giving Out (State Farm)
• Keeping Children Safe in Crashes Video (iihs.org)
• What does Personal Injury Protection (PIP) Cover? (Allstate)
• Understanding your Policy (NAIC.org)