How Much are Auto Insurance Quotes for Drivers with Accidents in Alaska?

I’m sure you’ve seen the ads from car insurance companies like Nationwide, State Farm, and Farmers that promise the cheapest rates, so you just need to pick the one with the best commercial, right?

It’s just not that simple, as there are a whole bunch of unknown elements such as the insurance company you are currently insured with, the number of years you have been licensed, and the type of vehicle you drive. The content below will cover the things that cause high insurance rates and will hopefully give you a good start in finding the cheapest insurance in Alaska.

One of the key factors that is used by insurance companies to determine the cost of insurance is your zip code. Regions with more people or even just more weather-related claims like Palmer, Wasilla, and Fairbanks are more likely to have higher rates, whereas areas that tend to be more rural tend to receive slightly lower rates.

The table below ranks the highest-priced places in Alaska for drivers with accidents to purchase a policy in.

Rates are approximated as specific location information can change auto insurance rates greatly.

Finding decent, budget car insurance is hard enough, and figuring out which company offers the lowest-priced car insurance rates for drivers with accidents calls for even more shopping around. Policy prices should be moderately higher than the average price in Alaska because of the higher likelihood of claims that goes along with selling coverage for drivers with at-fault accidents, but affordable coverage may be achievable if you do a thorough comparison.

Every insurance company uses slightly different criteria for determining prices, so let’s begin by examining the overall cheapest car insurance companies in Alaska. It’s important to understand that Alaska car insurance rates are impacted by many things which can significantly increase or decrease the price you pay. Simply having a birthday, becoming a homeowner, or getting a reckless driving citation can produce rate changes that can make some companies more affordable than before.

Cheapest Insurance Rates for Accident Prone Drivers

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Umialik normally has some of the best car insurance rates in Alaska at around $892 a year. USAA, State Farm, Progressive, and GEICO also are some of the more affordable Alaska insurance companies.

As shown above, if you are a customer of USAA and switched to Umialik, you may realize a yearly price reduction of around $65. Customers with State Farm may save as much as $73 a year, and Progressive customers might see rate reductions of $318 a year.

Be aware that those rates are averaged across all ages of drivers and types of vehicles and and are not figured with a rate surcharge for drivers with accidents. So the company that is best for you may not even be in the list of companies above. That underscores the importance of why you need to get car insurance quotes using your own personal information and vehicle type.

The type of vehicle needing coverage is a large factor that determines if you can find low-cost insurance for drivers with accidents. Vehicles with average performance, a great safety record, or low incidents of liability claims will cost less to insure than high performance models.

The data below estimates insurance premiums for the more afforable automobiles to insure.

Data rating is based on single female driver age 30, no speeding tickets, two at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, multi-vehicle, and multi-policy. Estimates do not factor in specific zip code location which can revise auto insurance rates significantly.

Based upon these rates, you can conclude that vehicles like the Ford Escape, Honda CR-V, Chevrolet Traverse, and Ford F-150 are most likely going to be some of the most economical vehicles to insure for drivers with at-fault accidents. Auto insurance rates will be more costly because there is more risk for drivers with accidents, but overall those specific models will tend to have the lowest insurance rates that you’ll find.

Cost of full coverage in Alaska

Finding cheap insurance for drivers with accidents in Alaska should be important to most vehicle owners, and one easy way to find cheaper insurance is to not buy full coverage. The example below visualizes the comparison of auto insurance costs with liability coverage only compared to full coverage. The costs are based on a clean driving record, no claims, $500 deductibles, single status, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $500 Deductibles’, ‘Liability Only’],[‘Age 20’, 2185,829],[‘Age 30’, 1157,459],[‘Age 40’, 1131,427],[‘Age 50’, 1029,399],[‘Age 60’, 1001,393],[‘Age 70’, 1227,523]]);var options = {title: ‘Full Coverage and Liability Only Rates’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Alaska’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

On average, physical damage coverage costs an extra $1,288 per year more than just buying liability insurance. That amount may make you wonder when is it a good idea to stop buying full coverage. There is no specific rule to delete physical damage insurance, but there is a broad guideline. If the yearly cost of full coverage is more than about 10% of the replacement cost minus the deductible, then you may need to consider dropping full coverage.

For example, let’s assume your vehicle’s replacement value is $8,000 and you have $1,000 physical damage deductibles. If your vehicle is damaged in an accident, the most you would get paid by your company is $7,000 after paying your deductible. If it’s costing in excess of $700 annually for physical damage coverage, then you may want to consider only buying liability coverage.

The example below demonstrates how deductible levels can change insurance rates when trying to find cheap insurance for drivers with accidents. Data assumes a single female driver, comprehensive and collision coverage, and no discounts are applied.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 2183,2007,1815,1635],[‘Age 30’, 1519,1391,1243,1105],[‘Age 40’, 1405,1291,1159,1033],[‘Age 50’, 1231,1129,1013,905],[‘Age 60’, 1191,1093,983,875],[‘Age 70’, 1381,1273,1149,1035]]);var options = {title: ‘Impact of Deductible Levels on Insurance Prices in Alaska’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

The data above shows that a 50-year-old driver could lower rates by $218 a year by switching their comprehensive and collision coverages from a $100 deductible to a $500 deductible, or save $326 by switching to a $1,000 deductible. Even younger drivers, like the 20-year-old category, can cut $548 annually by selecting a higher deductible.

If you do make the decision to raise your deductibles, it will be important to have emergency funds available to be able to cover the extra out-of-pocket expense, which is the one disadvantage of using larger deductibles.

Tips for buying more affordable car insurance for drivers with accidents

It is possible to find better rates, and here are some thrifty ideas that can help Alaska drivers locate lower-cost auto insurance.

• Pay lower rates with good credit
• Increase your physical damage deductibles
• Avoid preventable accidents
• Save money by obeying traffic laws and keeping a clean driving record
• Vehicles with good safety ratings are usually cheaper to insure
• Look for cheaper rates once a year by shopping around

The last tip is especially valuable, as we stressed in this write-up. Insurance rates change a lot, so don’t hesitate to switch companies if you find a cheaper price. Having a favorite company is fine, but it’s not a good idea if that loyalty ends up costing hundreds every year. Spend a few minutes and compare rates to find cheaper car insurance for drivers with accidents.