Affordable Insurance for a Honda CR-V in Anchorage

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Insurance quote for Honda CR-V in AnchorageThe best way we recommend to save on Honda CR-V insurance is to compare quotes annually from providers that sell auto insurance in Anchorage.

Step 1: Get an understanding of how insurance companies determine prices and the modifications you can make to lower rates. Many risk factors that result in higher prices like at-fault accidents, speeding tickets, and an imperfect credit history can be eliminated by being financially responsible and driving safely.

Step 2: Quote rates from direct, independent, and exclusive agents. Direct and exclusive agents can provide rates from one company like Progressive and State Farm, while independent agents can provide price quotes for a wide range of insurance providers. Find an Anchorage insurance agent

Step 3: Compare the new rate quotes to the premium of your current policy and see if there is a cheaper rate in Anchorage. If you find a lower rate quote, ensure coverage does not lapse between policies.

Step 4: Provide proper notification to your current company to cancel your current car insurance policy and submit a down payment along with a completed application to your new agent or company. Immediately upon receiving it, place your new proof of insurance certificate with your vehicle's registration.

A good tip to remember is to use identical deductibles and limits on every quote request and and to get rates from as many carriers as you can. This provides a fair price comparison and plenty of rates choose from.

It's a fact that car insurance companies want to keep your business as long as possible. Insureds who shop around for cheaper price quotes will presumably switch to a new company because there is a good chance of finding lower rate quotes. A survey found that drivers who compared price quotes annually saved $3,450 over four years compared to those who never shopped for cheaper rates.

If finding discount rates on insurance is the reason for your visit, then having some insight into how to get free comparison quotes and analyze coverage rates can save time and make the process easier.

How You Can Control Honda CR-V Insurance Prices

An important part of buying insurance is that you know the rating factors that are used to determine your premiums. When you understand what positively or negatively impacts your premiums, this helps enable you to make changes that could help you find lower premium levels.

  • Alarms and GPS tracking lowers premiums - Purchasing a vehicle with an alarm system can help bring down rates. Systems that thwart thieves like OnStar, LoJack tracking, and tamper alarms can thwart auto theft.
  • Discounts for multiple policies - Lots of car insurance companies afford better rates to policyholders who carry more than one policy, otherwise known as a multi-policy discount. Even with this discount, it's always a smart idea to compare other company rates to verify if the discount is saving money.
  • Defend yourself with liability - Your policy's liability coverage will afford coverage if you are determined to be liable for causing damage or personal injury in an accident. Your policy's liability insurance provides legal defense coverage starting from day one. It is affordable coverage when compared to the cost of physical damage coverage, so drivers should carry high limits.
  • Always keep your coverage in place - Not maintaining insurance is a misdemeanor and you will pay a penalty because you let your insurance lapse for non-payment. Not only will you pay higher rates, the inability to provide proof of insurance may earn you a hefty fine and possibly a revoked license. Then you may be required to prove you have insurance by filing a SR-22 with the Alaska DMV.
  • Where do you drive? - Driving a lot of miles annually the more you'll pay to insure it. Most insurance companies charge rates based on their usage. Vehicles that sit idle most of the time qualify for better rates than vehicles that are driven to work every day. Double check that your car insurance declarations sheet reflects the right rating data, because it can save money. A policy that improperly rates your CR-V is throwing money out the window.
  • Honda CR-V statistical loss data - Companies analyze historical claim data to calculate a price that will offset any claims. Vehicles that the data determines to have higher losses will cost more for specific coverages. The table below shows the collected loss data for Honda CR-V vehicles.

    For each coverage type, the claim probability for all vehicles, as a total average, equals 100. Percentage values below 100 indicate a favorable loss history, while numbers above 100 point to more losses or an increased chance of a larger loss.

    Honda CR-V Insurance Claim Statistics
    Specific Honda Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Honda CR-V 4dr 2WD 68 81 58 93 86 77
    Honda CR-V 4dr 4WD 69 82 69 90 87 78

    Statistics Source: Insurance Institute for Highway Safety for 2013-2015 Model Years

Just remember that comparing a large number of companies will improve the odds of getting more affordable rates.

The following companies can provide free quotes in Alaska. If your goal is to find cheap auto insurance in AK, we recommend you visit two to three different companies to get the best price comparison.

Rates and information analytics

The information displayed below covers estimates of coverage prices for Honda CR-V models. Having a good understanding how insurance premiums are formulated can assist in making smart choices when purchasing an insurance policy.

Honda CR-V Insurance Rates in Anchorage, AK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $176 $328 $300 $18 $90 $912 $76
CR-V EX 2WD $176 $328 $300 $18 $90 $912 $76
CR-V LX 4WD $176 $328 $300 $18 $90 $912 $76
CR-V EX 4WD $202 $328 $300 $18 $90 $938 $78
CR-V EX-L 2WD $202 $328 $300 $18 $90 $938 $78
CR-V EX-L 4WD $202 $328 $300 $18 $90 $938 $78
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Data assumes single female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Price estimates do not factor in Anchorage location which can increase or decrease coverage rates greatly.

Can higher deductibles save money?

When buying car insurance, a common question is which deductibles should you choose. The following insurance rates can help illustrate the premium difference when you buy lower versus higher physical damage deductibles. The first pricing table uses a $100 deductible for physical damage and the second pricing table uses a $500 deductible.

Honda CR-V insurance policy rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $204 $348 $232 $14 $70 $893 $74
CR-V EX 2WD $204 $348 $232 $14 $70 $893 $74
CR-V LX 4WD $204 $348 $232 $14 $70 $893 $74
CR-V EX 4WD $234 $348 $232 $14 $70 $923 $77
CR-V EX-L 2WD $234 $348 $232 $14 $70 $923 $77
CR-V EX-L 4WD $234 $348 $232 $14 $70 $923 $77
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Honda CR-V insurance policy rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
CR-V LX 2WD $148 $234 $232 $14 $70 $698 $58
CR-V EX 2WD $148 $234 $232 $14 $70 $698 $58
CR-V LX 4WD $148 $234 $232 $14 $70 $698 $58
CR-V EX 4WD $170 $234 $232 $14 $70 $720 $60
CR-V EX-L 2WD $170 $234 $232 $14 $70 $720 $60
CR-V EX-L 4WD $170 $234 $232 $14 $70 $720 $60
Get Your Own Custom Quote Go

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include homeowner, claim-free, multi-policy, multi-vehicle, and safe-driver. Premium costs do not factor in specific garaging location which can impact prices considerably.

Based on the figures above, using a $100 deductible costs roughly $17 more each month or $204 a year than opting for the higher $500 deductible. Because you would be required to pay $400 more out-of-pocket with a $500 deductible as compared to a $100 deductible, if you normally go at a minimum 24 months between claims, you would probably be better off if you decide on a higher deductible.

The illustration below highlights how deductible selection and can change Honda CR-V premium costs for each age group. The premiums assume a single male driver, comprehensive and collision coverage, and no discounts are factored in.

Does full coverage make sense?

The diagram below illustrates the difference between Honda CR-V insurance costs with full physical damage coverage compared to only buying liability only. The premium estimates are based on no tickets, no at-fault accidents, $500 deductibles, single marital status, and no other discounts are factored in.

Are you wasting money paying for full coverage?

There is no definitive guideline to eliminate comp and collision coverage, but there is a broad guideline. If the yearly cost of comp and collision coverage is more than 10% of the replacement cost of your vehicle minus the policy deductible, the it may be a good time to stop paying for full coverage.

For example, let's say your Honda CR-V claim settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is severely damaged, the most your company will settle for is $3,000 after paying your deductible. If you are paying more than $300 annually to have full coverage, then it might be time to consider dropping full coverage.

There are some conditions where removing full coverage is not a good idea. If you still owe a portion of the original loan, you are required to maintain full coverage in order to prevent the bank from purchasing higher-priced coverage. Also, if your savings is not enough to buy a different vehicle if your current one is damaged, you should not drop full coverage.

Why you need CR-V insurance in Alaska

Despite the potentially high cost of Honda CR-V insurance, insurance is required in Alaska but it also protects you in many ways.

  • The majority of states have mandatory liability insurance requirements which means it is punishable by state law to not carry specific minimum amounts of liability in order to drive the car. 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 have a loan on your Honda, it's most likely the lender will force you to have full coverage to guarantee loan repayment. If you do not keep the policy in force, the lender will be forced to insure your Honda at an extremely high rate and make you pay much more than you were paying before.
  • Car insurance preserves your vehicle and your assets. It will also provide coverage for medical transport and hospital expenses for yourself as well as anyone injured by you. Liability coverage will also pay attorney fees if you are sued as the result of an accident. If mother nature or an accident damages your car, collision and comprehensive coverages will cover the damage repairs after a deductible is paid.

The benefits of having car insurance more than cancel out the cost, especially for larger claims. The average driver in Alaska is wasting up to $855 a year so shop around every year to ensure rates are inline.

Auto insurance rates and discounts

Insuring your vehicles can cost a lot, but there could be available discounts that could drop your premiums quite a bit. Many of these discounts will be applied automatically at quote time, but occasionally some discounts must be specifically requested in order for you to get them.Cheaper auto insurance with discounts

  • Federal Employees - Simply working for the federal government can save as much as 8% depending on your company.
  • Safety Course Discount - Taking part in a course that instructs on driving safety can save you 5% or more depending on where you live.
  • Low Miles Discount - Fewer annual miles on your Honda may allow you to get discounted premium rates on garaged vehicles.
  • Online Discount - A few larger online companies give back up to $50 for buying a policy and signing up on the web.
  • Drive Safe and Save - Drivers without accidents may receive a discount up to 45% compared to rates paid by drivers with frequent claims.

Discounts save money, but please remember that many deductions do not apply to the whole policy. Most only reduce individual premiums such as collision or personal injury protection. Even though it appears you would end up receiving a 100% discount, it's just not the way it works.

The diagram below visualizes the comparison of Honda CR-V premium costs with and without discounts applied to the policy premium. The rate quotes are based on a female driver, no accidents or driving violations, Alaska state minimum liability limits, full physical damage coverage, and $100 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with homeowner, multi-car, claim-free, marriage, safe-driver, and multi-policy discounts applied.

Companies and their offered discounts are included below.

  • GEICO may offer discounts for emergency military deployment, defensive driver, air bags, multi-vehicle, five-year accident-free, daytime running lights, and multi-policy.
  • MetLife offers discounts for multi-policy, good driver, good student, accident-free, and defensive driver.
  • State Farm has savings for Steer Clear safe driver discount, defensive driving training, passive restraint, student away at school, and multiple autos.
  • Progressive includes discounts for online signing, online quote discount, continuous coverage, multi-policy, and good student.
  • Mercury Insurance may include discounts for low natural disaster claims, ease of repair, good driver, multi-car, anti-theft, accident-free, and professional/association.
  • 21st Century offers premium reductions for anti-lock brakes, 55 and older, air bags, student driver, and defensive driver.
  • Allstate policyholders can earn discounts including farm vehicle, economy car, early signing, good student, anti-lock brakes, multi-policy, and new car.

When quoting, ask each company or agent to apply every possible discount. Savings may not apply to policies in your area. To view insurers that offer some of these discounts in Anchorage, click this link.

Local neighborhood agents and auto insurance

Some people still prefer to talk to an insurance agent. The best thing about getting free rate quotes online is the fact that you can find cheaper rates and also buy local. Buying insurance from local agencies is important particularly in Anchorage.

Find insurance agent in AnchorageFor easy comparison, once you complete this short form, the quote information is instantly submitted to insurance agents in Anchorage who will give competitive quotes for your insurance coverage. It makes it easy because there is no need to do any legwork since price quotes are sent to the email address you provide. You can most likely find cheaper rates and a licensed agent to talk to. If you wish to get a rate quote from a specific auto insurance provider, don't hesitate to go to their quote page and give them your coverage information.

Finding a good provider requires you to look at more than just a cheap price. Any agent in Anchorage should be forthright in answering these questions:

  • Are there any extra charges for paying monthly?
  • What is their Better Business Bureau rating?
  • How long has their agency been open in Anchorage?
  • How long have they worked with personal auto insurance coverage?
  • Will high miles depreciate repair valuations?
  • Is the quote a firm price?

In the end, you can save money

When shopping online for auto insurance, it's not a good idea to sacrifice coverage to reduce premiums. In too many instances, someone dropped liability coverage limits and found out when filing a claim that the savings was not a smart move. Your focus should be to get the best coverage possible at the best possible price while still protecting your assets.

Consumers who switch companies do it for any number of reasons including high rates after DUI convictions, poor customer service, extreme rates for teen drivers or even an unsatisfactory settlement offer. It doesn't matter why you want to switch finding a new auto insurance company can be pretty painless.

In this article, we presented a lot of ways to shop for Honda CR-V insurance online. The key thing to remember is the more providers you compare, the better likelihood of getting cheaper Anchorage car insurance quotes. Drivers may even discover the best prices are with a company that doesn't do a lot of advertising.

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