How to Know You're Paying Too Much for Auto Insurance in Barrow

Nobody enjoys paying for auto insurance, especially knowing the cost is way too high. Because you have many options when it comes to auto insurance, it can be hard to find the cheapest insurance company.

Finding the best rates in Barrow is not that difficult. If you currently have a car insurance policy, you will be able to lower your premiums substantially using this strategy. Alaska consumers only need to know the most effective way to buy auto insurance over the internet.

How to Lower your Auto Insurance Rates

Consumers need to have an understanding of the factors that help determine auto insurance rates. When you know what positively or negatively impacts premium levels empowers consumers to make smart changes that could result in much lower annual insurance costs.

The following are a few of the "ingredients" used by your company to calculate premiums.

Lower deductibles cost more - The deductibles represent how much money you are required to spend in the event of a claim. Coverage for physical damage, also known as collision and other-than-collision, is used to repair damage to your car. A few examples of covered claims are colliding with a building, damage caused by hail, and rolling your vehicle. The higher the amount you have to pay, the lower your rates will be.
Bundling policies can get discounts - Many insurance companies will award you with lower prices to people who consolidate policies with them, otherwise known as a multi-policy discount. Even if you're getting this discount it's still a good idea to comparison shop to verify if the discount is saving money.
Teen drivers pay high rates - Teenage drivers in Alaska are known to get distracted easily behind the wheel so auto insurance rates are higher. If you've ever had to add a youthful driver onto a policy can be very expensive. Older drivers are more responsible, statistically cause fewer accidents and get fewer tickets.
Do you know you're credit rating? - A driver's credit history is a big factor in determining your rates. If your credit is not that good, you could save money insuring your by improving your rating. People with good credit tend to be more responsible than drivers who have lower credit scores.

Automobile Insurance Quotes in Barrow, AK

All major auto insurance companies provide price estimates on their websites. Getting online quotes is quite simple as you just enter your coverage preferences as detailed in the form. After the form is submitted, their system will obtain your driving record and credit report and gives you a price quote based on these and other factors. This streamlines rate comparisons, but the process of having to visit multiple sites and complete many quote forms can be a bit repetitive. But it's very important to have as many quotes as possible if you want to find the best price on auto insurance.

The preferred way to get multiple rate quotes requires only one form to get prices from many companies. The form is fast, requires less work, and makes online quotes much easier to do. After sending your information, it gets priced and you can select any or none of the resulting price quotes. If you find a better price you can click and sign and purchase coverage. The whole process takes 15 minutes at the most and you will find out if you're overpaying now.

To quickly find out if lower rates are available, click here to open in new window and enter your information. If you currently have coverage, we recommend you input the coverages as close as possible to your current policy. This makes sure you will have a rate comparison for the exact same coverage.

Are you getting all your discounts?

Companies don't always advertise all available discounts very well, so we took the time to find some of the best known and also the lesser-known discounts you could be receiving. If you don't get every credit you qualify for, you are paying more than you should be.

Multiple Vehicles - Buying coverage for multiple vehicles with the same company can get a discount on all vehicles.
Anti-lock Brakes - Vehicles equipped with ABS or steering control can reduce accidents and therefore earn up to a 10% discount.
New Vehicle Savings - Buying coverage on a new vehicle can cost up to 25% less because new vehicles have to meet stringent safety requirements.
Passive Restraints - Vehicles equipped with air bags or motorized seat belts can receive discounts of 20% or more.
Claim Free - Good drivers with no accidents can save substantially when compared with accident-prone drivers.
Senior Discount - If you're over the age of 55, you may be able to get a small decrease in premiums.
Homeowners Savings - Owning a home in Barrow can save you money due to the fact that maintaining a home is proof that your finances are in order.

A little note about advertised discounts, some credits don't apply to your bottom line cost. Most only reduce specific coverage prices like physical damage coverage or medical payments. So even though they make it sound like all the discounts add up to a free policy, you won't be that lucky.

To choose insurers who offer auto insurance discounts in Alaska, click here.

How can Allstate, GEICO and Progressive save drivers who switch?

Alaska drivers can't ignore all the ads for cheaper car insurance from the likes of Allstate, GEICO and Progressive. All the companies have a common claim about savings after switching your coverage to them.

But how can every company say the same thing? It's all in the numbers.

Insurance companies have a certain "appetite" for the type of customer that makes them money. For example, a profitable customer might be profiled as a mature driver, owns a home, and has great credit. A propective insured that hits that "sweet spot" will get the preferred rates and as a result will probably save a lot of money.

Consumers who are not a match for this ideal profile must pay higher rates and this can result in business not being written. The ads state "customers who switch" not "everybody who quotes" save that much money. That is how companies can truthfully advertise the savings. This illustrates why you need to compare many company's rates. It's not possible to predict which company will give you the biggest savings.

Tailor your coverage to you

When buying the right insurance coverage for your vehicles, there really is no single plan that fits everyone. Every situation is different and your policy should reflect that. For instance, these questions might point out whether you would benefit from professional advice.

Am I covered when driving on a suspended license?
Do I need PIP (personal injury protection) coverage in Alaska?
Should I file a claim if it's only slightly more than my deductible?
Should I drop comprehensive coverage on older vehicles?
Will I be non-renewed for getting a DUI or other conviction?
Can I afford to buy a different vehicle if my vehicle is totaled?
Should I buy additional glass protection?

If you can't answer these questions then you might want to talk to an insurance agent. To find lower rates from a local agent, fill out this quick form or go to this page to view a list of companies. It is quick, free and you can get the answers you need.

Even more information can be found at the Alaska Division of Insurance website. Alaska drivers can report car insurance fraud, read consumer alerts, read enforcement actions against agents and companies, and find out industry alerts.

Other informative sites include this page for Alaska auto insurance and this page for help finding agents in Barrow, AK.

A tidy conclusion

The cheapest auto insurance can be bought on the web as well as from independent agents in Barrow, and you need to price shop both to get a complete price analysis. There are still a few companies who don't offer online price quotes and usually these regional insurance providers provide coverage only through local independent agents.

As you prepare to switch companies, don't be tempted to reduce coverage to reduce premium. In too many instances, an insured cut physical damage coverage only to discover later that the small savings ended up costing them much more. Your focus should be to get the best coverage possible at the best price while not skimping on critical coverages.

Throughout this article, we presented a lot of ways to compare auto insurance prices online. The most important thing to understand is the more rate comparisons you have, the better your chances of lowering your rates. Consumers may even find the best price on auto insurance is with some of the smallest insurance companies. These smaller insurers may cover specific market segments cheaper than the large multi-state companies such as .