Are you sick and tired of trying to scrape together enough money to insure your vehicles every month? Your situation is no different than many other drivers in Alaska.
Multiple car insurance companies compete to insure your vehicles, so it can be very hard to choose a insurer and get the definite lowest cost out there.
Smart consumers take time to take a look at other company’s rates quite often because rates are usually higher with each renewal. Even if you think you had the best deal two years ago you will most likely find a better rate today. You can find a lot of wrong information about car insurance online but we’re going to give you some great ways to reduce your car insurance bill.
Effectively comparing car insurance prices can be exhausting if you don’t understand the most efficient way to do it. You can waste a few hours (or days) talking about coverages with insurance agencies in Cordova, or you could save time and use online quotes to get the quickest rates.
Most major companies are enrolled in a marketplace where prospective buyers enter their policy data once, and every company can give them a price based on that information. This saves time by eliminating quote requests for each company.
To fill out one form to compare multiple rates now click here (opens in new window).
The only downside to using this type of form is buyers cannot specifically choose the providers you want to price. So if you prefer to pick specific providers to receive pricing from, we have a listing of the cheapest car insurance companies in Alaska. Click to view list.
It’s up to you how you get prices quotes, just make sure you use identical coverages and limits for every company. If you use differing limits it will be very difficult to make a fair comparison in Cordova. Having just a slight variation in coverage limits can make a big difference in price. And when quoting car insurance, remember that obtaining a wide range of quotes provides better odds of finding the best price.
Car insurance providers like Allstate, GEICO and Progressive constantly bombard you with ads in print and on television. They all make the same claim of big savings if you switch your policy. How do they all say the same thing?
All the different companies have a preferred profile for the right customer they prefer to insure. For example, a profitable customer might be profiled as between the ages of 40 and 55, has no driving citations, and has great credit. Any driver who meets those qualifications will qualify for the lowest rates and as a result will probably save a lot of money.
Drivers who do not match the “perfect” profile will be quoted a more expensive rate and this can result in the customer not buying. Company advertisements say “customers that switch” not “everybody who quotes” save that much money. That’s the way companies can claim big savings. This emphasizes why you should compare many company’s rates. It is impossible to predict which car insurance company will give you the biggest savings.
Companies don’t always advertise all their discounts in an easy-to-find place, so we researched both the well known and also the lesser-known car insurance savings.
As a disclaimer on discounts, many deductions do not apply to your bottom line cost. Some only reduce specific coverage prices like physical damage coverage or medical payments. Just because you may think all the discounts add up to a free policy, companies wouldn’t make money that way.
Learning about specific coverages of your policy helps when choosing which coverages you need at the best deductibles and correct limits. Policy terminology can be impossible to understand and coverage can change by endorsement. These are the usual coverages available from car insurance companies.
Comprehensive protection – Comprehensive insurance coverage pays for damage that is not covered by collision coverage. A deductible will apply then your comprehensive coverage will pay.
Comprehensive coverage protects against things such as rock chips in glass, hitting a bird, a broken windshield, theft and damage from a tornado or hurricane. The most you can receive from a comprehensive claim is the cash value of the vehicle, so if your deductible is as high as the vehicle’s value consider removing comprehensive coverage.
Medical expense coverage – Personal Injury Protection (PIP) and medical payments coverage provide coverage for immediate expenses like nursing services, hospital visits and rehabilitation expenses. They are often utilized in addition to your health insurance program or if you lack health insurance entirely. They cover all vehicle occupants as well as being hit by a car walking across the street. PIP is not universally available and gives slightly broader coverage than med pay
Collision coverages – Collision coverage pays to fix your vehicle from damage resulting from a collision with a stationary object or other vehicle. You have to pay a deductible and then insurance will cover the remainder.
Collision can pay for claims such as scraping a guard rail, colliding with a tree, hitting a parking meter, sideswiping another vehicle and damaging your car on a curb. Collision coverage makes up a good portion of your premium, so consider dropping it from vehicles that are 8 years or older. It’s also possible to raise the deductible to bring the cost down.
Liability insurance – This coverage provides protection from damage or injury you incur to other people or property that is your fault. Coverage consists of three different limits, bodily injury for each person, bodily injury for the entire accident, and a limit for property damage. You might see values of 100/300/100 which stand for a limit of $100,000 per injured person, a limit of $300,000 in injury protection per accident, and $100,000 of coverage for damaged propery.
Liability coverage pays for claims like emergency aid, legal defense fees, loss of income and repair costs for stationary objects. The amount of liability coverage you purchase is your choice, but buy as large an amount as possible. Alaska state law requires minimum liability limits of 50,000/100,000/25,000 but it’s recommended drivers buy higher limits.
Uninsured or underinsured coverage – Your UM/UIM coverage protects you and your vehicle’s occupants when the “other guys” either are underinsured or have no liability coverage at all. It can pay for hospital bills for your injuries as well as your vehicle’s damage.
Since many Alaska drivers only carry the minimum required liability limits (50/100/25), it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is important protection for you and your family.
We covered a lot of techniques to lower your car insurance rates. It’s most important to understand that the more times you quote, the higher the chance of saving money. You may even find the best prices are with an unexpected company. Smaller companies may have significantly lower rates on certain market segments compared to the large companies like GEICO and State Farm.
Cheap car insurance can be sourced on the web and with local Cordova insurance agents, so compare prices from both to have the best chance of lowering rates. Some companies do not offer you the ability to get quotes online and most of the time these small insurance companies sell through independent agents.
More detailed Alaska car insurance information can be found at the Alaska Division of Insurance website. Alaska drivers can learn about specific coverages, find a variety of consumer forms, read consumer alerts, and find out industry alerts.