If you want to find the absolute lowest rates, then the best way to find discount auto insurance rates is to compare prices once a year from different companies who provide car insurance in Anchorage. Rates can be compared by following these steps.
- It will benefit you to learn about the coverage provided by your policy and the modifications you can make to keep rates low. Many rating criteria that drive up the price like high-risk driving behaviors and a not-so-good credit rating can be controlled by making minor driving habit or lifestyle changes. Read the full article for additional tips to keep prices down and get additional discounts that may have been overlooked.
- Compare rates from direct carriers, independent agents, and exclusive agents. Direct companies and exclusive agencies can only give prices from one company like Progressive or State Farm, while agents who are independent can give you price quotes from multiple sources.
- Compare the new rate quotes to your current policy premium to see if a cheaper price is available in Anchorage. If you find better rates, verify that coverage does not lapse between policies.
- Provide written notification to your current company to cancel your current car insurance policy. Submit any necessary down payment along with the completed application to the newly selected company. Be sure to safely store the certificate verifying coverage with the vehicle registration.
A tip to remember is to make sure you're comparing the same deductibles and limits on each quote and and to get prices from as many different insurance providers as possible. This helps ensure an accurate price comparison and a good representation of prices.
It's safe to conclude that auto insurance companies don't want policyholders to shop around. Insureds who compare rates once a year will probably move their business because the odds are good of finding a lower rate. A recent survey revealed that people who compared prices once a year saved over $850 each year compared to drivers who didn't regularly shop around.
If finding discount rates on car insurance is your ultimate target, then having some knowledge of how to find and compare insurance rates can make the process less intimidating.
Most of the larger companies allow you to get price estimates on the web. The process doesn't take a lot of time as you simply enter the amount of coverage you want into the quote form. Once you submit the form, the system orders credit information and your driving record and returns a price.
Getting online quotes for Toyota Corolla insurance in Anchorage makes comparing rates easy, and it's very important to perform this step in order to find a lower rate.
To quickly compare rates using this form now, visit the companies below or click here to submit a quote request to multiple companies at once. To compare your current rates, we recommend you enter the coverage information identical to your current policy. Using the same limits helps guarantee you will have rate comparison quotes based on identical coverages.
The auto insurance companies shown below offer free quotes in Alaska. To get the best auto insurance in Anchorage, we suggest you visit as many as you can in order to find the most affordable rates.
Rates and statistics
The rate table displayed next covers estimates of rate quotes for Toyota Corolla models. Learning as much as possible about how insurance premiums are formulated can help guide drivers when making informed decisions when comparing rates.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Premium data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $100 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, multi-policy, homeowner, multi-vehicle, and safe-driver. Table data does not factor in specific location which can increase or decrease price quotes noticeably.
The information below shows how choosing a deductible and can impact Toyota Corolla insurance prices for different age categories. The data is based on a single female driver, comprehensive and collision coverage, and no discounts are taken into consideration.
Price comparison of only insuring for liability
The information below compares Toyota Corolla auto insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The premium estimates are based on no driving violations, no at-fault accidents, $250 deductibles, single marital status, and no discounts are factored in.
When to drop full coverage
There is no set guideline of when to eliminate comprehensive and collision coverage on your policy, but there is a guideline you can use. If the annual cost of having full coverage is 10% or more of the replacement cost minus the deductible, then it could be time to drop full coverage.
For example, let's pretend your Toyota Corolla replacement value is $6,000 and you have $1,000 deductibles. If your vehicle is totaled in an accident, the most you would get paid by your company is $5,000 after the policy deductible has been paid. If premium cost is more than $500 a year for full coverage, then you might want to consider buying only liability coverage.
There are some cases where eliminating full coverage is not financially feasible. If you have an outstanding loan on your vehicle, you have to keep full coverage to protect the lienholder's interest. Also, if you don't have enough money to buy a different vehicle in the even your car is totaled, you should keep full coverage on your policy.
Why you need insurance for your Toyota Corolla
Even though it can be expensive, auto insurance is a good idea for several reasons.
First, the majority of states have minimum mandated liability insurance limits which means it is punishable by state law to not carry specific limits of liability coverage in order to drive the car legally. 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.
Second, if you have a lien on your car, more than likely the lender will have a requirement that you buy insurance to guarantee payment of the loan. If you do not keep the policy in force, the lender may have to buy a policy to insure your Toyota for a lot more money and force you to pay much more than you were paying before.
Third, insurance protects your Toyota Corolla and your assets. Insurance will also pay for most medical and hospital costs for you, your passengers, and anyone else injured in an accident. As part of your policy, liability insurance will also pay to defend you if you are sued as the result of an accident. If you have damage to your Toyota as the result of the weather or an accident, comprehensive and/or collision insurance will pay all costs to repair after the deductible has been paid.
The benefits of having auto insurance outweigh the cost, specifically if you ever have a liability claim. On average, a vehicle owner in Anchorage overpays as much as $869 every year so you should quote your policy with other companies once a year at a minimum to be sure current rates are still competitive.
Choices You Make Can Impact Your Insurance Costs
Smart consumers have a good feel for a few of the rating criteria that come into play when calculating your premiums. If you know what determines base rates, this allows you to make good choices that can help you get cheaper rates. Many things are taken into consideration when you get a price on insurance. Some factors are common sense such as traffic violations, but other factors are more transparent such as whether you are married or how safe your car is.
The following are a few of the "ingredients" insurance companies consider when setting your rates.
Gals tend to cost less - Statistics have proven women tend to be less risk to insure than men. It does not mean women are better drivers. Both genders have auto accidents in similar percentages, but men have accidents that have higher claims. Men also get more serious tickets such as reckless driving.
The diagram below illustrates the difference between Toyota Corolla car insurance costs for male and female drivers. The rate quotes are based on no accidents, no driving violations, full physical damage coverage, $1,000 deductibles, single marital status, and no other discounts are factored in.
- Additional coverages that may be costing you - There are many additional extra coverages that sound like a good idea at the time but may not be useful. Coverages like vanishing deductibles, towing, and membership fees could be just wasting money. You may think they are a good idea when buying your policy, but your needs may have changed so eliminate the coverages to reduce your premium.
- Lower premiums for vehicles with better crash test results - Vehicles with good safety scores tend to be cheaper to insure. The safest vehicles reduce the chance of injuries and fewer injuries translates directly to fewer claims and thus lower rates. If your Toyota has at least four stars on Safercar.gov or an "acceptable" rating on iihs.org you may qualify for a discount.
- Lower insurance rates with GPS tracking and theft deterrents - Owning a car with an alarm system can save you some money. Anti-theft devices such as GM's OnStar, tamper alarm systems and vehicle immobilizers can help prevent your vehicle from being stolen.
Insurance loss probability for a Toyota Corolla - Insurance companies use past insurance losses to calculate a price that will offset losses. Models that the data shows to have higher prevalence or dollar amount of losses will be charged more to insure.
The table below outlines the insurance loss data used by companies for Toyota Corolla vehicles. For each coverage category, the loss probability for all vehicles, regardless of make, model or trim level, is represented as 100. Percentage numbers below 100 mean the vehicle has better than average losses, while numbers that are greater than 100 point to more losses or a tendency for losses to be larger than average.
Toyota Corolla Insurance Loss Statistics Vehicle Model Collision Property Damage Comp Personal Injury Medical Payment Bodily Injury Toyota Corolla 133 111 94 156 158 128BETTERAVERAGEWORSE
Statistics from IIHS.org for 2013-2015 Model Years
Lower-cost Anchorage auto insurance quotes with discounts
Auto insurance is not inexpensive, but discounts can save money and there are some available that may help make it more affordable. Certain discounts will be applied when you get a quote, but once in a while a discount must be requested specifically prior to getting the savings.
- Professional Memberships - Participating in a civic or occupational organization in Anchorage could trigger savings on your bill.
- Distant Student - Older children who live away from home to go to college and leave their car at home may be able to be covered for less.
- Air Bag Discount - Factory air bags can get savings as much as 30%.
- Low Mileage Discounts - Keeping the miles down on your Toyota could earn slightly better premium rates than normal.
- Life Insurance - Some companies give a lower rate if you buy life insurance from them.
- Online Discount - Some of the larger companies will give a small break just for signing your application online.
- Federal Employees - Employees or retirees of the government can earn a discount up to 10% depending on your auto insurance provider.
It's important to note that most of the big mark downs will not be given to your bottom line cost. Most only cut individual premiums such as liability and collision coverage. So when the math indicates having all the discounts means you get insurance for free, companies don't profit that way. But any discount will definitely reduce your policy cost.
The information below compares Toyota Corolla insurance costs with and without policy discounts. The premium estimates are based on a male driver, no claims or violations, Alaska state minimum liability limits, comprehensive and collision 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, marriage, multi-policy, safe-driver, and claim-free discounts applied.
Large auto insurance companies and their offered discounts include:
- Progressive may include discounts for multi-policy, continuous coverage, homeowner, multi-vehicle, online quote discount, online signing, and good student.
- Farmers Insurance includes discounts for alternative fuel, distant student, homeowner, mature driver, good student, business and professional, and early shopping.
- Farm Bureau policyholders can earn discounts including good student, safe driver, driver training, multi-vehicle, and renewal discount.
- State Farm discounts include good driver, anti-theft, defensive driving training, Drive Safe & Save, and safe vehicle.
- GEICO has savings for defensive driver, air bags, driver training, emergency military deployment, and membership and employees.
- SAFECO offers discounts for accident prevention training, homeowner, drive less, bundle discounts, and anti-theft.
- Liberty Mutual has discounts for multi-policy, newly retired, new graduate, newly married, new move discount, and good student.
When comparing rates, check with each insurance company the best way to save money. Depending on the company, some discounts might not be available to policyholders in Anchorage. To locate insurers that have a full spectrum of discounts in Anchorage, follow this link.
Which is the best auto insurance?
When quoting and comparing the right insurance coverage, there is no best way to insure your cars. You are unique and your policy should reflect that. Here are some questions about coverages that may help highlight if your situation would benefit from an agent's advice.
- Do I need more liability coverage?
- What if a claim settlement is too low?
- Does rental coverage apply when I am renting a car?
- Is my state a no-fault state?
- When would I need additional glass coverage?
- Should I sign the liability waiver when renting a car?
- Am I covered when driving in Canada or Mexico?
- Does low annual mileage earn a discount?
- What are good deductibles for a Toyota Corolla?
If it's difficult to answer those questions but one or more may apply to you, you may need to chat with an insurance agent. If you don't have a local agent, fill out this quick form or go to this page to view a list of companies. It's fast, doesn't cost anything and can provide invaluable advice.
Car insurance agents can find coverage gaps
A lot of people still prefer to buy from a local agent and that is a personal choice. Agents are highly skilled in risk management and give you someone to call. One of the best bonuses of getting free rate quotes online is that drivers can save money and get lower rates but still work with a licensed agent. Buying from and supporting neighborhood agents is definitely important in Anchorage.
By using this form (opens in new window), your insurance data is emailed to companies in Anchorage who will give you bids to get your business. There is no reason to search for any insurance agencies as quotes are delivered directly to your email. If you have a need to get a rate quote for a specific company, you would need to find their quoting web page and give them your coverage information.
Car insurance agents in Anchorage come in two varieties
When searching for an insurance agent, there are two types of insurance agents and how they are slightly different. Insurance policy providers can be classified as either exclusive or independent agents depending on their company appointments. Either one can write insurance policies, but it's worth learning the difference in the companies they write for since it may influence which agent you choose.
Independent Insurance Agents
Agents that elect to be independent are not required to write business for one company so they can insure your vehicles with a variety of different insurance companies and help determine which has the cheapest rates. If your premiums go up, the business is moved internally and you don't have to do anything.
When searching for an agent, it's recommended you get rate quotes from at least one independent agent in order to have the best price comparison. Many write coverage with small regional insurance companies that can offer cheaper rates than bigger companies.
Featured below is a partial list of independent agencies in Anchorage that may be able to give rate quotes.
- Kent S Kallander Insurance Agency Inc
1317 W Northern Lights Blvd #9 - Anchorage, AK 99503 - (907) 563-1492 - View Map
- Marsh Mc Lennan Agency
1031 W 4th Ave #400 - Anchorage, AK 99501 - (907) 276-5617 - View Map
- Alaskan General Insurance
1400 W Benson Blvd # 500 - Anchorage, AK 99503 - (907) 297-4500 - View Map
Agents that elect to be exclusive can only provide one company's prices such as American Family, State Farm, and AAA. They are unable to provide other company's prices so you need to shop around if the rates are high. Exclusive agencies are well trained on the products they sell which can be an advantage. Many people use the same agent mainly due to the brand rather than low rates.
Listed below are exclusive insurance agents in Anchorage that are able to give rate quotes.
- Allstate Insurance: M. Diane Johnson
4045 Lake Otis Pkwy Ste 206 - Anchorage, AK 99508 - (907) 569-6900 - View Map
- Stacey Roy - State Farm Insurance Agent
9220 Lake Otis Pkwy Ste A6 - Anchorage, AK 99507 - (907) 345-0505 - View Map
- State Farm Insurance - Justin Goodman
4200 Old Seward Hwy - Anchorage, AK 99503 - (907) 561-7771 - View Map
Finding the right car insurance agent needs to be determined by more than just a low price. Any agent in Anchorage should be willing to answer these questions.
- Who is covered by the car insurance policy?
- What insurance companies do they recommend if they are an independent agent?
- Do they have a Better Business Bureau rating in Anchorage?
- How much will you save each year by using a higher deductible?
- Do they get extra compensation for selling add-on coverages?
- How is replacement cost determined on your vehicle?
- How many companies do they write for?
- Are they able to influence company decisions when a claim is filed?
Upon getting positive feedback to any questions you may have and a low price estimate, you may have found an insurance agent that is reliable enough to adequately provide insurance.
Car insurance savings summarized
Affordable Toyota Corolla insurance in Anchorage can be found from both online companies and also from your neighborhood Anchorage agents, so you need to shop Anchorage car insurance with both to have the best selection. There are still a few companies who may not offer internet price quotes and most of the time these small, regional companies only sell coverage through independent insurance agencies.
In this article, we presented some good ideas how to shop for Toyota Corolla insurance online. It's most important to understand that the more times you quote, the better likelihood of getting inexpensive Anchorage car insurance quotes. You may even be surprised to find that the biggest savings come from a small local company. Regional companies can often insure niche markets at a lower cost than the large multi-state companies such as State Farm, GEICO and Nationwide.
Additional car insurance information can be found at these links:
- Determining Your Vehicle's Value and Repair Cost (Insurance Information Institute)
- How Much are Car Insurance Quotes for Ride Shares in Anchorage? (FAQ)
- What Car Insurance is Cheapest for a Chevrolet Silverado in Anchorage? (FAQ)
- Who Has Cheap Auto Insurance Rates for a Chevrolet Equinox in Anchorage? (FAQ)
- Car Insurance FAQ (Trusted Choice)
- Front crash protection reduces rear-end crashes (Insurance Institute for Highway Safety)
- What is Gap Insurance? (Insurance Information Institute)
- Your Car has been Stolen: Now What? (Allstate)