Best Mitsubishi Lancer Insurance in Anchorage

Are you irritated from sacrificing other expenses to pay car insurance each month? You have the same problem as most other vehicle owners in Alaska.

Unbelievable but true, a large majority of consumers have remained with the same car insurance company for well over three years, and 38% of drivers have never taken the time to shop around. Drivers in the U.S. can save up to $850 each year by just shopping around, but they just don’t want to compare rate quotes.

How to find discount Mitsubishi Lancer insurance in Anchorage

To save the most money, the best way to get discount auto insurance rates is to start comparing rates regularly from insurance carriers in Anchorage. Price quotes can be compared by following these guidelines.

1. Try to learn a little about policy coverages and the steps you can take to keep rates in check. Many factors that increase rates like multiple speeding tickets and a bad credit score can be improved by making lifestyle changes or driving safer.
2. Compare rates from independent agents, exclusive agents, and direct companies. Direct and exclusive agents can give quotes from one company like GEICO and State Farm, while independent agents can provide prices for a wide range of companies.
3. Compare the quotes to your current policy and see if you can save money. If you find better rates and buy the policy, make sure there is no coverage gap between policies.
4. Provide notification to your current company to cancel your current policy. Submit any necessary down payment along with the completed application to your new agent or company. Once the application is submitted, put the new certificate of insurance above your visor, in the console, or in the glove compartment.

A good piece of advice is to make sure you’re comparing the same level of coverage on each quote and and to get quotes from all possible companies. Doing this helps ensure a fair price comparison and a complete price analysis.

Multiple insurers compete for your business, and it can be difficult to compare rates to discover the definitive best price available on Mitsubishi Lancer insurance in Anchorage.

Affordable Anchorage Mitsubishi Lancer insurance price quotes

The car insurance companies shown below are our best choices to provide free rate quotes in Anchorage, AK. To locate cheap auto insurance in Anchorage, we recommend you visit two to three different companies to get a more complete price comparison.

Insurance rate breakdown

The coverage information shown below showcases a range of insurance costs for Mitsubishi Lancer models. Knowing how rate quotes are established can be of help when making smart choices when purchasing an auto insurance policy.

Data assumes married female driver age 50, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include safe-driver, multi-policy, homeowner, claim-free, and multi-vehicle. Table data does not factor in specific garaging location which can revise premiums greatly.

Deductible analysis

When buying auto insurance, a common question is how high should the physical damage coverage deductibles be. The tables below outline how much more rates are between high and low comp and collision deductibles. The first rate comparisons uses a $250 deductible for physical damage and the second price grid uses a $1,000 deductible.

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

Using the data above, we can ascertain that using a $250 deductible costs approximately $25 more each month or $300 for a full year across all Mitsubishi Lancer models than quoting the higher $1,000 deductible. Since you would pay $750 more to file a claim with a $1,000 deductible as compared to a $250 deductible, if you usually have at a minimum 30 months between claims, you would probably save some money if you choose the higher deductible.

Full coverage rates vs. liability-only in Anchorage

The diagram below visualizes the comparison of Mitsubishi Lancer annual premium costs with full physical damage coverage and with liability coverage only. The data assumes no violations or claims, $500 deductibles, single marital status, and no discounts are taken into consideration.

When to buy liability coverage only

There is no exact rule to stop buying comp and collision coverage, but there is a general convention. If the annual cost of comprehensive and collision coverage is about 10% or more of the replacement cost minus the deductible, then it might be time to buy liability only.

For example, let’s say your Mitsubishi Lancer settlement value is $4,000 and you have $1,000 physical damage deductibles. If your vehicle is destroyed, you would only receive $3,000 after paying the physical damage deductible. If it’s costing in excess of $300 annually for comprehensive and collision coverage, then it might be time to buy liability only.

There are some situations where only buying liability is not in your best interest. If you still have a loan on your vehicle, you have to keep full coverage in order to keep the loan. Also, if your savings is not enough to buy a different vehicle if your current one is totaled, you should keep full coverage on your policy.

Informed Drivers Can Save Money

Many things are used when you get your auto insurance bill. Some are obvious such as your driving record, but other criteria are more obscure such as your credit history or how safe your car is. One of the most helpful ways to save on auto insurance is to to have a grasp of some of the elements that come into play when calculating the price you pay for auto insurance. If you have some idea of what influences your rates, this enables you to make decisions that can help you get lower premium levels.

• Your liability coverage limits – Your policy’s liability coverage is the coverage that protects you if ever you are ruled to be at fault for personal injury or accident damage. Your policy’s liability insurance provides legal defense coverage to attempt to prove you were not liable. This coverage is very inexpensive as compared to coverage for physical damage, so buy as much as you can afford.
• Theft deterrents save – Driving a car that has an advanced theft prevention system can get you a discount on your auto insurance. Theft prevention devices like vehicle immobilizer systems, General Motors OnStar and LoJack tracking systems can help prevent your vehicle from being stolen.

• How’s your driving record? – Being a careful driver impacts your car insurance rates tremendously. Even a single ticket may cause rates to rise forty percent or more. Drivers who don’t get tickets receive lower rates than bad drivers. Drivers unfortunate enough to have flagrant citations like reckless driving or DUI may find that they have to to file a proof of financial responsibility form (SR-22) with the DMV in their state in order to prevent a license revocation.

  The illustration below demonstrates how citations and accident claims drive up Mitsubishi Lancer insurance rates for each different age group. Data assumes a single female driver, comp and collision included, $500 deductibles, and no additional discounts are factored in.

• Higher coverage deductibles lower rates – Physical damage insurance, also called ‘full coverage’, insures against damage to your Mitsubishi. Examples of covered claims are collision with another vehicle, hitting a deer, and damage from a fallen tree branch. The deductibles you choose represent how much money you are required to spend out-of-pocket before a claim is paid by your company. The larger the amount you are required to pay out-of-pocket, the lower your rates will be.
• High credit equals lower rates – Having a good credit score is likely to be a major factor in calculating your auto insurance rates. Consumers who have high credit scores tend to be less risk to insure as compared to drivers with lower ratings. If your credit score is low, you could save money insuring your Mitsubishi Lancer by repairing your credit.
• Your location is a factor – Living in less populated areas of the country is a good thing when buying auto insurance. People who live in big cities regularly have more aggressive driving styles and more severe claims. Fewer people means less chance of accidents.

• Battle of the sexes – The statistics show that females tend to be a little less risky than males. Now that doesn’t mean men are WORSE drivers than women. Both genders are in at-fault accidents in similar numbers, but the male of the species cause more damage and cost insurance companies more money. In addition to higher claims, males also have more aggressive citations like DUI and reckless driving. Young males cause the most accidents and therefore are the most expensive to insure.

  The example below compares Mitsubishi Lancer car insurance rates for male and female drivers. The premiums assume no accidents or driving violations, comp and collision included, $100 deductibles, drivers are single, and no other discounts are factored in.

• Mitsubishi Lancer claim statistics – Insurance companies include the past claim trends for vehicles when setting premium prices. Models that historically have higher frequency or amount of claims will have a higher cost to insure. The data below shows the loss history for Mitsubishi Lancer vehicles.

  For each insurance policy coverage type, the statistical loss for all vehicles averaged together is represented as 100. Numbers under 100 suggest losses that are better than average, while values that are above 100 show a trend for more claims or an increased probability of a larger loss.

  
  

  Auto Insurance Loss Data for Mitsubishi Lancer Models

  Make and Model	Collision	Property Damage	Comp	Personal Injury	Medical Payment	Bodily Injury
  Mitsubishi Lancer 2WD	153	146	127	192	218	172
  Mitsubishi Lancer 4WD	149	131	148	135
  Mitsubishi Lancer Evolution 4WD	225	123	221

  BETTER

  AVERAGE

  WORSE

  Empty fields indicate not enough data collected
  Data Source: iihs.org (Insurance Institute for Highway Safety) for 2013-2015 Model Years

Auto insurance is an important decision

Despite the high insurance cost for a Mitsubishi Lancer in Anchorage, maintaining insurance serves a purpose in several ways.

• The majority of states have minimum liability requirements which means state laws require specific limits of liability insurance coverage if you don’t want to risk a ticket. 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 your Mitsubishi has a loan, it’s guaranteed your bank will force you to have physical damage coverage to ensure the loan is repaid in case of a total loss. If you default on your policy, the lender will be forced to insure your Mitsubishi at a more expensive rate and require you to fork over much more than you were paying before.
• Insurance protects not only your car but also your assets. It also can pay for medical expenses for both you and anyone you injure as the result of an accident. Liability insurance, one of your policy coverages, also covers legal expenses if anyone sues you for causing an accident. If mother nature or an accident damages your car, collision and comprehensive coverages will cover the repair costs.

The benefits of having auto insurance outweigh the cost, especially if you ever need it. According to a survey of 1,000 drivers, the average driver overpays as much as $800 each year so it’s very important to do a rate comparison at least once a year to save money.