Best Mazda 5 Insurance in Anchorage

A recent auto insurance study revealed that about 70% of customers have bought auto insurance from the same company for a minimum of four years, and practically 40% of auto insurance customers have never compared rates with other companies. American consumers could save an average of $859 each year just by getting comparison quotes, but they just don’t understand how easy it is to find cheaper auto insurance rates.

Discount Mazda 5 insuranceTo save the most money, the best way to quote cheaper auto insurance rates in Anchorage is to compare prices regularly from providers in Alaska. Rate comparisons can be done by following these steps.

  1. Take a little time to learn about how insurance companies determine prices and the factors you can control to keep rates in check. Many policy risk factors that result in higher rates such as accidents, careless driving, and a negative credit history can be rectified by making minor driving habit or lifestyle changes. Continue reading for more details to find cheap prices and get discounts that may be overlooked.
  2. Compare price quotes from exclusive agents, independent agents, and direct providers. Direct companies and exclusive agencies can only give prices from one company like GEICO or State Farm, while agents who are independent can provide rate quotes from many different companies. Compare rates now
  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 quote and decide to switch, make sure there is no lapse between the expiration of your current policy and the new one.

A good tip to remember is to use identical limits and deductibles on each price quote and and to get prices from all possible companies. This provides the most accurate price comparison and a complete price analysis.

Affordable companies for Mazda 5 insurance in Alaska

The providers in the list below are our best choices to provide price quotes in Anchorage, AK. To buy the best cheap auto insurance in Anchorage, it’s highly recommended you visit two to three different companies to get the best price comparison.

Car insurance statistics and figures

The rate table displayed next highlights detailed analysis of coverage prices for Mazda 5 models. Having a better understanding of how auto insurance policy rates are determined can be valuable when making smart choices when comparing insurance quotes.

Mazda 5 Insurance Rates in Anchorage, AK
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $116 $200 $222 $14 $66 $618 $52
5 Touring Station Wagon $134 $242 $222 $14 $66 $678 $57
5 Grand Touring Station Wagon $134 $242 $222 $14 $66 $678 $57
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Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, multi-vehicle, multi-policy, homeowner, and safe-driver. Premium amounts do not factor in zip code location which can decrease or increase premium rates substantially.

Higher deductibles save money

A question often asked by Anchorage drivers is which comprehensive and collision deductibles to buy. The comparison tables below can help you understand the cost difference between low and high comp and collision deductibles. The first set of rates uses a $100 deductible for comprehensive and collision coverage and the second price grid uses a $500 deductible.

Mazda 5 insurance rates with $100 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $204 $348 $232 $14 $70 $893 $74
5 Touring Station Wagon $234 $422 $232 $14 $70 $997 $83
5 Grand Touring Station Wagon $234 $422 $232 $14 $70 $997 $83
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Mazda 5 insurance rates with $500 deductibles
Model Comp Collision Liability Medical UM/UIM Annual Premium Monthly Premium
5 Sport Station Wagon $148 $234 $232 $14 $70 $698 $58
5 Touring Station Wagon $170 $286 $232 $14 $70 $772 $64
5 Grand Touring Station Wagon $170 $286 $232 $14 $70 $772 $64
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Data variables include married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, multi-vehicle, and claim-free. Premium costs do not factor in vehicle garaging location which can revise rates substantially.

Using the data above, we can ascertain that using a $100 deductible will cost in the ballpark of $18 more each month or $216 every year across all Mazda 5 models than choosing the higher $500 deductible. Due to the fact that you would have to pay $400 more if you turn in a claim with a $500 deductible as compared to a $100 deductible, if you tend to go at least 22 months between claim filings, you would probably be better off going with the higher deductible. Here’s the way you can make your own decision.

Average monthly premium for $100 deductibles: $80
Average monthly premium for $500 deductibles (subtract): – $62
Monthly savings from raising deductible: $18
Difference between deductibles ($500 – $100): $400
Divide difference by monthly savings: $400 / $18
Number of months required between physical damage coverage claims in order to save money by choosing the higher deductible 22 months

One important caveat is that a higher deductible results in having to pay to pay more out-of-pocket when you have to file a claim. That will require enough savings in the event you need to pay the deductible.

The chart below illustrates how your choice of deductibles and can influence Mazda 5 premium costs for each different age category. The costs are based on a married female driver, full coverage, and no other discounts are factored in.

Full coverage rates compared to liability-only

The diagram below illustrates the difference between Mazda 5 annual premium costs when comparing full coverage to state minimum liability only. The premiums assume a clean driving record, no claims, $100 deductibles, drivers are single, and no discounts are factored in.

When to stop paying for full coverage

There is no specific rule 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 more than about 10% of the settlement you would receive from your company, then it might be time to consider dropping full coverage.

For example, let’s assume your Mazda 5 claim settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is totaled in an accident, the most your company would pay you is $3,000 after paying your policy deductible. If premium cost is more than $300 a year to have full coverage, then it’s probably a good time to buy liability coverage only.

There are some conditions where removing full coverage is not advised. If you still owe a portion of the original loan, you have to carry full coverage in order to keep the loan. Also, if you can’t afford to buy a different vehicle in case of an accident, you should keep full coverage in place.

Score discounts on Anchorage car insurance

Some insurance providers don’t necessarily list every available discount very clearly, so we took the time to find a few of the more common and the more hidden car insurance savings.

It’s important to note that some of the credits will not apply to all coverage premiums. Most cut individual premiums such as collision or personal injury protection. Just because it seems like you can get free auto insurance, insurance companies wouldn’t stay in business.

The information below illustrates the comparison of Mazda 5 car insurance costs with and without discounts applied to the rates. The data is based on a male driver, a clean driving record, no at-fault accidents, Alaska state minimum liability limits, comp and collision included, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-car, homeowner, safe-driver, claim-free, and multi-policy discounts applied.

If you would like to choose from a list of companies that offer the discounts shown above in Alaska, click here.

Tailor your auto insurance coverage to you

When buying your policy for your personal vehicles, there really is not a one-size-fits-all type of policy. Coverage needs to be tailored to your specific needs.

For example, these questions may help highlight whether your personal situation would benefit from an agent’s advice.

If you don’t know the answers to these questions but you think they might apply to your situation, then you may want to think about talking to an agent. If you want to speak to an agent in your area, complete this form. It’s fast, free and you can get the answers you need.

Compare prices but buy from a neighborhood Anchorage auto insurance agent

Many drivers would prefer to sit down and talk to an agent and that can be a smart move Licensed agents will help you protect your assets and help in the event of a claim. A nice benefit of price shopping on the web is you may find lower auto insurance rates and still have a local agent. Supporting neighborhood agents is definitely important in Anchorage.

Insurance agency in AnchorageOnce you complete this short form, the quote information is instantly submitted to local insurance agents in Anchorage who can give free rate quotes for your business. There is no need to leave your computer since rate quotes are delivered straight to your inbox. If for some reason you want to get a rate quote from a particular provider, you can always visit that company’s website to submit a rate quote request.

Two types of Anchorage car insurance agents

If you’re trying to find local Anchorage agents, there are a couple of different agency structures and how they differ in how they quote coverages. Car insurance policy providers are classified as either independent or exclusive depending on the company they work for. Both types can provide car insurance policies, but it’s important to know the subtle differences since it may influence the type of agent you choose.

Independent Insurance Agents

Agents that choose to be independent are not employed by one company so they can write business through many different car insurance companies and help determine which has the cheapest rates. To move your coverage to a new company, they simply move your policy to a different company which makes it simple for you.

If you are trying to find cheaper rates, it’s a good idea to include rate quotes from several independent insurance agents for maximum quote selection. Most also have access to smaller companies which could offer lower prices.

The following is a partial list of independent insurance agencies in Anchorage that may be able to provide free price quotes.

More insurance agents

Exclusive Insurance Agencies

Exclusive agents generally can only insure with one company such as AAA, State Farm, Farmers Insurance, and Allstate. Exclusive agents are unable to shop your coverage around so they really need to provide good service. Exclusive agents are very knowledgeable in insurance sales which helps them compete with independent agents. Consumers frequently use the same agent mainly due to the prominence of the brand rather than low rates.

Below is a short list of exclusive insurance agents in Anchorage that are able to give price quotes.

More insurance agents

Finding the right insurance agency requires you to look at more than just the premium amount. Any agent in Anchorage should be willing to answer these questions.

More comparisons equals cheap rates

You just read many ways to reduce Mazda 5 insurance prices online in Anchorage. It’s most important to understand that the more providers you compare, the higher the chance of saving money. You may even be surprised to find that the lowest prices come from the smaller companies.

When shopping online for car insurance, you should never reduce coverage to reduce premium. There have been many cases where consumers will sacrifice liability coverage limits only to regret at claim time that the savings was not a smart move. The aim is to get the best coverage possible at an affordable rate while still protecting your assets.

People switch companies for any number of reasons including questionable increases in premium, extreme rates for teen drivers, delays in responding to claim requests and even delays in paying claims. Regardless of your reason for switching companies, choosing a new company is not as difficult as it may seem.

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