Cheapest Insurance for a Mazda RX-8 in Anchorage

Unimaginable but true, almost 70% of drivers have purchased from the same company for at least the last four years, and 38% of customers have never taken the time to shop around. Alaska insurance shoppers can save about 35% each year, but they underestimate the large savings they would see if they switched to a cheaper policy.

If saving money is your primary concern, then the best way to get cheaper Mazda RX-8 insurance in Anchorage is to begin comparing prices regularly from companies who provide auto insurance in Alaska.

Step 1: Gain an understanding of coverages and the measures you can take to prevent expensive coverage. Many rating criteria that result in higher rates like your driving record and an unfavorable credit rating can be improved by making minor driving habit or lifestyle changes. This article gives additional ideas to keep prices down and get bigger discounts.

Step 2: Get rate quotes from direct, independent, and exclusive agents. Direct and exclusive agents can give quotes from a single company like Progressive or Allstate, while independent agents can give you price quotes from multiple sources.

Step 3: Compare the quotes to your existing coverage and see if you can save money. If you find better rates and change companies, make sure there is no lapse between the expiration of your current policy and the new one.

Step 4: Provide notification to your current company of your intent to cancel your current auto insurance policy and submit a signed application and payment for your new coverage. Immediately upon receiving it, store the certificate verifying proof of insurance along with your vehicle registration.

The key thing to remember is to try to use the same level of coverage on each price quote and to quote with every company you can. This guarantees the most accurate price comparison and a complete selection of prices.

Companies offering Mazda RX-8 insurance in Alaska

The companies shown below provide comparison quotes in Anchorage, AK. If you want to find the cheapest car insurance in Alaska, we suggest you visit two to three different companies in order to get a fair rate comparison.

Auto insurance data for a Mazda RX-8

The premium information displayed below outlines estimates of coverage costs for Mazda RX-8 models. Learning more about how prices are established helps drivers make smart choices when selecting a coverage provider.

Data based on single male driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include multi-policy, homeowner, multi-vehicle, claim-free, and safe-driver. Rates do not factor in your specific Anchorage location which can affect insurance rates considerably.

How high should deductibles be?

When comparing auto insurance rates, the most common question is at what level do you set your deductibles. The comparisons below may aid in understanding the cost difference between high and low deductibles. The first pricing table uses a $250 physical damage coverage deductible and the second rate chart uses a $1,000 deductible.

Above prices assume married male driver age 30, no speeding tickets, no at-fault accidents, and Alaska minimum liability limits. Discounts applied include homeowner, claim-free, safe-driver, multi-vehicle, and multi-policy. Prices do not factor in specific Anchorage garaging location which can affect insurance rates substantially.

Based on the data above, we can derive that using a $250 deductible will cost you roughly $24 more each month or $288 every year than quoting the higher $1,000 deductible. Due to the fact that you would have to pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you go at least 31 months between claim filings, you would more than likely save some money if you choose the higher deductible.

Comparison of auto insurance rates by age and gender

The diagram below illustrates the comparison of Mazda RX-8 insurance premiums for male and female drivers. The premiums are based on no claims or driving violations, full coverage, $250 deductibles, marital status is single, and no discounts are applied to the premium.

Full coverage rates vs. liability-only in Anchorage

The diagram below shows the comparison of Mazda RX-8 insurance costs with and without physical damage coverage, medical payments, and uninsured/under-insured motorist coverage. The information is based on a clean driving record, no claims, $250 deductibles, single status, and no discounts are factored in.

When to drop full coverage

There is no clear-cut rule of when to stop paying for full coverage on your policy, but there is a general school of thought. If the annual cost of comprehensive and collision coverage is 10% or more of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s pretend your Mazda RX-8 settlement value is $3,000 and you have $1,000 deductibles. If your vehicle is destroyed, the most you would receive is $2,000 after the policy deductible has been paid. If you are paying over $200 a year to have full coverage, then it might be time to consider dropping full coverage.

There are some conditions where dropping physical damage coverage is not recommended. If you haven’t satisfied your loan, you have to carry full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle if your current one is in an accident, you should keep full coverage.

Companies offer lots of discounts on Mazda RX-8 insurance in Anchorage

Auto insurance is easily one of your largest bills, but you can get discounts that can dramatically reduce your bill. Certain credits will be shown when you purchase, but some must be specially asked for before you will receive the discount. If you check and find you aren’t receiving every discount you deserve, you are throwing money away.

• More Vehicles More Savings – Purchasing coverage when you have primary and secondary vehicles on one policy can reduce rates for all insured vehicles.
• Telematics Discount – Drivers who elect to allow driving data submission to scrutinize driving habits through the use of a telematics system like Allstate’s Drivewise might get better premium rates if they exhibit good driving behavior.
• No Claim Discounts – Good drivers with no accidents can earn big discounts as compared to insureds who have frequent claims or accidents.
• Good Driver Discount – Insureds without accidents can save up to 40% or more on their Anchorage auto insurance quote compared to rates paid by drivers with frequent claims.
• Braking Control Discount – Cars, trucks, and SUVs that have steering control and anti-lock brakes have fewer accidents and earn discounts up to 10%.
• Waiver for an Accident – Not really a discount, but some companies like Allstate, Progressive, and GEICO allow you one accident before hitting you with a surcharge if you are claim-free prior to the accident.
• E-sign Discounts – A few larger online companies will give a small break for buying your policy online.
• Life Insurance Discount – Select insurance companies reward you with a break if you buy life insurance.
• Theft Deterrent System – Anti-theft and alarm system equipped vehicles have a lower chance of being stolen and therefore earn up to a 10% discount.

Discounts reduce rates, but you should keep in mind that most discounts do not apply to the overall cost of the policy. The majority will only reduce the price of certain insurance coverages like liability and collision coverage. Despite the appearance that you can get free auto insurance, companies don’t profit that way.

The illustration below illustrates the comparison of Mazda RX-8 car insurance costs with and without discounts applied to the policy premium. The premiums assume a female driver, no claims or violations, Alaska state minimum liability limits, full physical damage coverage, and $250 deductibles. The first bar for each age group shows premium with no discounts. The second shows the rates with marriage, multi-policy, multi-car, homeowner, safe-driver, and claim-free discounts applied.

Car insurance companies that may offer policyholders most of the discounts above may include but are not limited to:

• The Hartford
• American Family
• Progressive
• Travelers
• Farmers Insurance
• USAA
• Liberty Mutual

If you need lower rates, check with each company or agent which discounts they offer. Discounts might not be available to policyholders in your area. To view auto insurance companies that offer some of these discounts in Anchorage, click this link.

Compare prices but buy from a local Anchorage insurance agency

Some people would rather go talk to an agent and that is not a bad decision Good insurance agents can help you choose the best coverages and help file insurance claims. One of the benefits of comparing rates online is the fact that drivers can get cheap auto insurance quotes and also buy local.

After filling out this simple form, the quote information is sent to companies in Anchorage who will gladly provide quotes for your auto insurance coverage. There is no need to visit any agencies as quotes are delivered instantly to you. If for some reason you want to get a rate quote from a specific insurance company, you just need to search and find their rate quote page and complete a quote there.

Finding a good company requires more thought than just the bottom line cost. Some important questions to ask are:

• Do they receive special compensation for putting your coverage with one company over another?
• Are there any discounts that you might be missing?
• Who is covered by the car insurance policy?
• What company holds the largest book of business for them?
• Do they have a Better Business Bureau rating in Anchorage?
• How is replacement cost determined on your vehicle?
• Where would your vehicle be repaired?

Shown below are Anchorage auto insurance companies who can help you get rate quotes for Mazda RX-8 insurance in Anchorage.

More Anchorage agents

Upon getting satisfactory answers to these questions as well as offering an affordable quote, you have narrowed it down to an insurer that meets the requirements to service your policy.

Cheaper insurance is out there

In this article, we presented quite a bit of information on how to compare Mazda RX-8 insurance car insurance rates in Anchorage. It’s most important to understand that the more you quote Anchorage auto insurance, the higher your chance of finding low cost Anchorage auto insurance quotes. Drivers may even discover the best car insurance rates are with some of the lesser-known companies. Some small companies can often insure niche markets at a lower cost as compared to the big name companies such as State Farm and Allstate.

Discount Mazda RX-8 insurance in Anchorage is possible on the web and also from your neighborhood Anchorage agents, and you should be comparing both in order to have the best chance of saving money. There are still a few companies who may not provide price quotes online and these small, regional companies sell through independent agencies.

Helpful learning opportunities

• Steps to Take After an Auto Accident (Insurance Information Institute)
• Think You’re a Safe Driver? (State Farm)
• Five Tips to Save on Auto Insurance (Insurance Information Institute)
• Teen Driving Statistics (iihs.org)
• Booster Seat Ratings (iihs.org)