How Much Does Car Insurance Cost for Unemployed Drivers in Alaska?

The words “affordable” and “insurance” probably shouldn’t be used together, specifically when you are looking for the best insurance rates for unemployed drivers. Because it’s so expensive, let’s lead off by showing you a few of the things that impact auto insurance premiums, and see if we can help you lower the cost of the next policy you buy.

For the unemployed, one of the big factors that help determine a rate quote is where your residence is in Alaska. Regions with more people or even just more weather-related claims like Anchorage, Fairbanks, and Wasilla tend to pay slightly more, whereas areas with fewer weather claims and lower vehicle theft rates profit from lower rates.

The illustration below lists the most expensive places in Alaska for unemployed drivers to purchase a policy in.

Annual rates are comparative as specific location information can modify premiums significantly.

Determining which company quotes the cheapest car insurance rates for unemployed drivers requires a little more work than just comparing a company or two. Every insurance provider uses their own formula for setting prices, so let’s rank the car insurance companies that tend to be cheaper in Alaska.

It’s important to understand that Alaska car insurance rates are based on many factors that will increase or decrease the policy premium. Simply improving your credit, becoming a homeowner, or getting a driving violation may prompt premium changes that can cause some rates to be cheaper than competitors.

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Umialik may offer some of the cheapest car insurance rates in Alaska at around $865 a year. USAA, State Farm, Progressive, and GEICO also rank well as some of the more affordable Alaska car insurance companies.

As illustrated above, if you are a customer of USAA and switched to Umialik, you may realize an annual premium reduction of approxmiately $102. Alaska drivers with State Farm may save as much as $110 a year, and Progressive insureds might cut rates by $345 a year.

To find out how your current rates compare, click here to start a quote or quote prices from the following companies.

It’s important to note that these premium estimates are averaged for all insureds and vehicles and and are not calculated with a rate decrease for unemployed drivers. So the auto insurance company that fits your situation best may not even be in the rate chart shown above. That affirms the importance of why you need to get car insurance quotes using your own specific driver information and vehicle.

The diagram below highlights how deductible selection can influence yearly insurance costs when trying to find cheap insurance for unemployed drivers. The costs are based on a single female driver, full coverage, and no discounts are taken into consideration.

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The chart above illustrates that a 30-year-old driver could reduce rates by $246 a year by changing from a $100 deductible up to a $500 deductible, or save $372 by selecting a $1,000 deductible. Even younger insureds, like the Age 20 chart data, can cut $548 or more by choosing a larger deductible amount.

If you do make the decision to raise your deductibles, it will be necessary to have emergency funds available to be able to pay the extra out-of-pocket expense that is associated with using high deductibles.

How to get cheap auto insurance for unemployed drivers in Alaska

Here are some penny-pinching solutions that can help you quote lower-cost coverage.

• Discounts for being claim-free can be substantial
• Do not pay for comprehensive and collision coverage on older vehicles
• Multi-policy discounts save money
• Increase your policy deductibles
• Increase your credit rating
• Buy a car with high safety ratings
• Shop around for cheaper prices

The last tip is extraordinarily significant, as we pointed out in the prior article. Auto insurance rates in Alaska vary greatly, so don’t be hesitant to buy a policy from a new company if a lower price can be found. Many drivers have brand loyalty and that’s fine, but we do not recommend it if that faithfulness ends up costing you a small fortune. Spend a few minutes and compare rates to find cheaper car insurance for unemployed drivers.