Best Quotes for Kia Optima Insurance in Anchorage

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Insurance quote for Kia Optima in AnchorageEveryone knows that car insurance companies don't want you comparing rates. Insureds who compare rates once a year will probably switch to a new company because of the high probability of finding a cheaper policy. A survey found that drivers who compared rates annually saved $72 a month compared to drivers who never compared rates.

If saving money on auto insurance in Anchorage is your goal, then having an understanding of how to choose a company and compare cheaper coverage can make it easier to find better rates.

The best way we recommend to save on Kia Optima insurance is to begin comparing prices regularly from providers that sell auto insurance in Anchorage. You can compare rates by following these guidelines.

Step 1: Spend a few minutes and learn about policy coverages and the steps you can take to keep rates low. Many rating factors that result in higher rates such as traffic violations and a poor credit score can be rectified by making small lifestyle or driving habit changes. Continue reading for additional ideas to get cheaper coverage and get bigger discounts.

Step 2: Compare rates from independent agents, exclusive agents, and direct companies. Exclusive agents and direct companies can only quote rates from a single company like Progressive or State Farm, while agents who are independent can provide price quotes for a wide range of companies.

Step 3: Compare the new quotes to the price on your current policy to see if you can save by switching companies. If you find a lower rate and decide to switch, make sure the effective date of the new policy is the same as the expiration date of the old one.

One key aspect of rate comparisons is to try to compare the same physical damage deductibles and liability limits on every quote request and and to compare as many different companies as possible. This provides an accurate price comparison and the best price selection.

Finding the cheapest auto insurance coverage in Anchorage is actually quite simple. If you currently have auto insurance, you will most likely be able to reduce premiums using this strategy. But Alaska car owners do need to learn how insurance companies sell online because it can help you find the best coverage.

Informed Drivers Can Cut Insurance Costs

Lots of factors are taken into consideration when quoting car insurance. Some factors are common sense such as traffic violations, although some other factors are more obscure such as your credit history or your financial responsibility. Part of the auto insurance buying process is learning a few of the rating criteria that play a part in calculating auto insurance rates. If you know what positively or negatively impacts your premiums, this allows you to make educated decisions that can earn you big savings.

Shown below are some of the most rate-impacting factors that factor into rates.

  • High credit rating translates to low premiums - Having a bad credit history will be a significant factor in determining what you pay. People that have high credit ratings tend to be more responsible and file fewer claims than drivers who have worse credit. If your credit history could use some work, you could save money insuring your Kia Optima by taking the time to improve your credit score.
  • Save mileage and save money - The more you drive each year the higher the price you pay to insure it. A lot of insurance companies apply a rate based upon how much you drive. Vehicles that do not get driven very much cost less to insure than those used for commuting. Having the wrong rating on your Optima may be costing you. It's always a good idea to double check that your declarations sheet is rated on how each vehicle is driven.
  • Don't cancel your auto insurance without a new one in place - Going without insurance will be a guaranteed way to trigger a rate increase. In addition to paying higher premiums, not being able to provide proof of insurance might get you a steep fine or even jail time. You may then have to prove you have insurance by filing a SR-22 with the Alaska motor vehicle department to get your license reinstated.
  • Cheaper rates after marriage - Your spouse may save some money on auto insurance. Having a spouse means you're more responsible and statistics show drivers who are married are more cautious.
  • Liability - Liability coverage will provide protection in the event that a court rules you are at fault for damages caused by your negligence. It will provide for a legal defense to defend your case. This coverage is very inexpensive compared to physical damage coverage, so drivers should carry high limits.
  • Tickets and citations cost more than a fine - Your driving record can have a huge impact on auto insurance premiums. Just one driving citation can increase rates forty percent or more. Good drivers get better prices compared to drivers with tickets. Drivers with license-revoking violations like DUI or willful reckless driving may face state-mandated requirements to submit a SR-22 form with the DMV in their state in order to legally drive a vehicle.

    The diagram below illustrates how traffic citations and accidents can drive up Kia Optima insurance costs for different age groups. Data assumes a single male driver, comprehensive and collision coverage, $500 deductibles, and no discounts are applied to the premium.

  • Older drivers pay less - Older people are more responsible, are lower risk to insure, and are generally more financially stable. Teen drivers are known to get distracted easily when at the wheel of a vehicle so they pay higher auto insurance rates.

    The data below uses these assumptions: single driver, full coverage with $1000 deductibles, and no discounts or violations.

  • Insurance loss statistics a Kia Optima - Insurers use data from past claims as a tool for profitable underwriting. Vehicles that historically have a trend towards higher claims will have higher premium rates.

    The next table shows the historical insurance loss data for Kia Optima vehicles. For each coverage category, the loss probability for all vehicles averaged together equals 100. Percentage numbers below 100 imply a favorable loss record, while values over 100 show a trend for more claims or statistically larger claims.

    Kia Optima Insurance Loss Statistics
    Vehicle Make and Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury
    Kia Optima 115 101 107 133 142 120
    Kia Optima Hybrid 143 115 116 139 158 151
    BETTER
    AVERAGE
    WORSE

    Statistics from IIHS.org for 2013-2015 Model Years

Statistics and details

The data table shown next showcases a range of insurance policy prices for Kia Optima models. Being aware of how policy rates are calculated can help guide drivers when making smart choices when buying a car insurance policy.

Kia Optima Insurance Rates in Anchorage, AK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $180 $348 $348 $20 $104 $1,000 $83
Optima EX $204 $410 $348 $20 $104 $1,086 $91
Optima SX $204 $410 $348 $20 $104 $1,086 $91
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Premium data assumes single female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, safe-driver, multi-policy, homeowner, and claim-free. Prices do not factor in Anchorage location which can modify premiums significantly.

Rate comparison for different deductibles

One frequently asked question is how high should your deductibles be. The tables below show the rate differences when you select higher and lower physical damage coverage deductibles. The first pricing table uses a $100 physical damage coverage deductible and the second set of rates uses a $1,000 deductible.

Kia Optima insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $234 $422 $308 $18 $92 $1,099 $92
Optima EX $264 $498 $308 $18 $92 $1,205 $100
Optima SX $264 $498 $308 $18 $92 $1,205 $100
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Kia Optima insurance rates with $1,000 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
Optima LX $130 $222 $308 $18 $92 $770 $64
Optima EX $146 $262 $308 $18 $92 $826 $69
Optima SX $146 $262 $308 $18 $92 $826 $69
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Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, multi-vehicle, and homeowner. Estimates do not factor in vehicle garaging location which can influence auto insurance rates substantially.

Using the premium rates above, we can conclude that using a $100 deductible would cost the average driver about $30 more each month or $360 a year than opting for the higher $1,000 deductible. Since you would have to pay $900 more if you turn in a claim with a $1,000 deductible as compared to a $100 deductible, if you normally average more than 30 months between claim filings, you would most likely save money if you choose the higher deductible. The numbers below show an example of how we made this calculation.

Average monthly premium for $100 deductibles: $97
Average monthly premium for $1,000 deductibles (subtract): - $67
Monthly savings from raising deductible: $30
Difference between deductibles ($1,000 - $100): $900
Divide difference by monthly savings: $900 / $30
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 30 months

The diagram below shows how choosing a deductible and can affect Kia Optima premium costs for different categories of driver ages. The rates are based on a married female driver, comp and collision included, and no discounts are factored in.

Companies offer money-saving discounts on Kia Optima insurance in Anchorage

Car insurance is easily one of your largest bills, but there are discounts available to help bring down the price. A few discounts will automatically apply at the time you complete a quote, but some may not be applied and must be specifically requested prior to receiving the credit.Discount car insurance

  • Anti-lock Brake System - Vehicles that have steering control and anti-lock brakes can reduce accidents and the ABS can save up to 10%.
  • Discounts for Seat Belt Usage - Drivers who always wear seat belts and also require passengers to fasten their seat belts can save 10% or more off the personal injury premium cost.
  • Theft Deterrent System - Cars and trucks equipped with anti-theft or alarm systems are less likely to be stolen so companies will give you a small discount.
  • Own a Home and Save - Simply owning a home can get you a discount since owning and maintaining a home means you have a higher level of financial diligence.
  • No Claim Discounts - Anchorage drivers who stay claim-free have much lower rates in comparison to drivers with a long claim history.
  • Federal Employees - Having worked for a branch of the government can save as much as 8% depending on your company.
  • Resident Student - Kids who live away from home to go to college and won't have access to an insured vehicle can receive lower rates.
  • Drive Less and Save - Fewer annual miles on your Kia can qualify you for better car insurance rates on cars that stay parked.
  • Multi-Vehicle Discounts - Drivers who insure several vehicles with the same company can reduce rates for all insured vehicles.

A quick disclaimer, some of the credits will not apply to the whole policy. Most only apply to the cost of specific coverages such as comp or med pay. So even though it sounds like having all the discounts means you get insurance for free, insurance companies wouldn't stay in business.

The information below illustrates the difference between Kia Optima insurance costs with and without discounts applied. The premium estimates are based on a female driver, no claims or violations, Alaska state minimum liability limits, full coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with safe-driver, claim-free, homeowner, multi-policy, marriage, and multi-car discounts applied.

A few popular companies and a summarized list of policyholder discounts include:

  • Progressive offers discounts including homeowner, multi-vehicle, online signing, multi-policy, and good student.
  • MetLife may include discounts for claim-free, multi-policy, good driver, accident-free, and good student.
  • Mercury Insurance may have discounts that include type of vehicle, location of vehicle, accident-free, multi-policy, multi-car, good student, and age of vehicle.
  • Nationwide discounts include business or organization, defensive driving, family plan, good student, multi-policy, anti-theft, and easy pay.
  • GEICO policyholders can earn discounts including driver training, five-year accident-free, membership and employees, anti-theft, daytime running lights, military active duty, and federal employee.
  • AAA offers premium reductions for anti-theft, education and occupation, multi-policy, good driver, and multi-car.

Check with each company to apply every possible discount. Depending on the company, some discounts may not be available in your area. To find companies that offer many of these discounts in Alaska, click this link.

Alaska auto insurance companies ranked

Finding the best auto insurance provider is difficult considering how many different companies sell coverage in Alaska. The rank data in the lists below could help you pick which insurers you want to consider comparing rates from.

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 Overall

  1. USAA
  2. American Family
  3. State Farm
  4. The Hartford
  5. AAA Insurance
  6. GEICO
  7. The General
  8. Progressive
  9. Allstate
  10. Liberty Mutual

The best insurance company isn't always the cheapest

When searching for the cheapest Kia Optima rate quotes, it's very important that you do not skimp on coverage in order to save money. In many cases, an accident victim reduced full coverage only to regret that they should have had better coverage. The aim is to get the best coverage possible for the lowest cost and still be able to protect your assets.

We just covered some good ideas how you can compare Kia Optima insurance premium rates in Anchorage. The key thing to remember is the more providers you compare, the better likelihood of getting inexpensive Anchorage car insurance quotes. You may even find the most savings is with some of the smallest insurance companies.

Insureds switch companies for a number of reasons such as being labeled a high risk driver, an unsatisfactory settlement offer, not issuing a premium refund or questionable increases in premium. It doesn't matter what your reason, choosing a new insurance company can be easier than you think.

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